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Grow your wealth by working on your mindset and up leveling your game. Your thoughts about money have created your current financial net worth. Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive. Tune in each week to learn more on how to ...
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Depending on your job situation, there’s a good chance that at some point, you may switch from a guaranteed salary to being paid based on your productivity. The productivity may be based on Revenue Value Units/RVUs or collections. Many people, and probably more so trainees looking at their first position post medical training, focus on the salary o…
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Many people tend to think of Financial Independence as a static goal, achieving some magical number in net worth or passive income that means you don’t have to work for money anymore. However, many people will push the goal post once they achieve their number, feeling like they need more. I see financial independence more as a journey with differen…
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You may have heard that the National Association of Relators was sued by a group of homeowners earlier this year and the outcome of the lawsuit was a settlement included a changes to relator compensation. Traditionally, when you sell a piece of property through a relator, the seller pays both the seller’s agent and the buyer’s agent anywhere betwee…
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In the quest to build multiple income streams, is doing physician surveys something to consider? In this episode, I discuss my own experience with medical surveys as well as the experience of Dr. Rikki Racela, who wrote a blog article entitled “How I made $30,000 Taking Doctor Surveys” (You can read the blog article for yourself at https://www.whit…
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What do you actually know about the Social Security Program and what kind of benefits you may possibly receive from Social Security? If you are like me, not all that much. You may know that you pay taxes to Social Security and may think it’s unlikely you’ll get much payout or all those taxes that you have paid over your entire working life. I spent…
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Employment contracts layout the terms of employment and generally layout the terms for what can cause termination of employment as well as any consequences that result from termination of employment. If you are considering leaving your current job for another job, then you will want to find your current employment contract and review what you previ…
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If you, any of your family members, friends, or patients are taking a very expensive medication for which a coupon card or program is being used for assistance to pay for the medication, you will want to tune in to learn about the Co-Pay Accumulator Policy. Dr. Celine Lee, a rheumatologist practicing in the state of Utah, explains what the Co-Pay A…
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Private lending offers possible stock like returns over a short term time horizon while being uncorrelated with the activity of the stock market. There is thought to be a higher level of risk compared to investments like CDs or government bonds, but these investments can be backed by hard assets like real estate, and thus lowering the risk. Sound i…
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You may know that there is a limit to monetary gifts you can give to anyone other than your spouse in a calendar year, currently $18,000 in 2024. While $18,000 in gifts is a generous some, what if you want to give more? This often happens with people who want to help their adult children, whether it’s to help them buy a home, chip in for a wedding,…
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When you have a long investing horizon of 5 years or more, there are many options for investments with potentially high returns. What about when you have a shorter time horizon? They may be saving for a downpayment on a house to purchase in the next 2-3 years or for a specific dream vacation. Or it may be money that you are setting aside for the ne…
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Depending on where you work, you may have the ability to invest in a 457 plan. 457 plans are another type of retirement account where money can grow tax free similar to a 401K or 403B but there are some important differences compared to 401Ks and 403Bs. Depending on your employer, it may not be a good idea to invest within their 457 plan. Generally…
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If you've been listening to business or financial news, you may be hearing the term Stagflation. Stagflation is the combination of stagnation and inflation describing a period of low growth with high inflation. There are concerns that we are headed towards stagflation. What does that mean and what can you do to protect yourself? Tune in to learn mo…
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Shanika Esparaz, MD is a medical retina specialist with board certifications in both ophthalmology and lifestyle medicine. In this episode, we talk about how starting a direct specialty practice and developing that entrepreneurial mindset as well as the finances behind starting a practice. You can find Dr. Shanika at Instagram link: https://www.ins…
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Wow, what a milestone! 100 episodes of The Grow Your Wealthy Mindset Podcast! If you have listened to all 100 episodes, you have hopefully learned a lot about personal finances and investing. Learning is a great first step, but you need to take action to create your version of a wealthy life. What does it really mean to be wealthy? It’s a topic I e…
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Pension plans and defined benefits plans are becoming more scarce and 401(k) and 403(b) and other types of defined contribution plans have become the norm. In this episode, I start with a brief summary of the history behind funding retirement before I dive deeper into the most common type of retirement plans currently available to W-2 employees. Th…
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Artificial Intelligence is getting better and better. What does that mean for robo-advisors, or using programing and technology instead of a human financial advisor? Wealthfront and Betterment were the first two large platforms to offer robo-advisors services. Now Vanguard, Fidelity, and Charles Schwab are offering robo-advisor services. This episo…
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I-bonds purchased between Nov 1, 2023 and April 30, 2023 have a fixed interest rate of 1.3%, the highest fixed rate in 15 years. Combined with the inflation rate, they are paying 5.27%. If you've ever been interested in buying I-bonds, now is the time. If you don't particually want more I-bonds in your portfolio but you have I-bonds previously purc…
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How did Mitt Romney amass $20-100 Million in his IRA? In this episode, I introduce self-directed retirement accounts, what they are and what they are used for. Please subscribe and leave a review on your favorite Podcasting platform. If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free c…
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This week’s episode is a really personal one where I share how recently, a lot of money scarcity has been coming up in my life and how I’ve been working through it. Its really a raw episode, me talking while I'm in the thick of it, with minimal editing. (mostly to take out long pauses) Please subscribe and leave a review on your favorite Podcasting…
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There are those who believe that investing in the United States stock market is all the diversification you need for your stock portfolio. Some even limit themselves to the S&P 500 Index fund while other go with the total US stock market. This week’s episode talks about adding international stock exposure to your portfolio. Please subscribe and lea…
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In this episode, I review updates with filing taxes for 2023 as well as discussing different tools and help offered by the IRS to get your taxes done. The standard deduction for 2023 is $13,850 for single or married filing separately and $27,700 for a married couple filing jointly. To create an account to pay your taxes online or set up a payment p…
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This is a follow-up episode from last week, so if you haven't listened to Episode 91: Choosing Between Traditional or Roth Retirement Accounts, I would encourage you to do that first. Last week I centered the discussion around marginal tax rates. This week, I review factors like age and timelines as well as planning if you want to leave your retire…
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More employers are offering the choice between a Traditional 401K or 403B and a Roth 401K or 403B. How do you choose which one is best for you? Unlike with the choice for which IRA to use (the backdoor Roth IRA is the clear winner for physicians), deciding between for 401Ks or 403Bs involve more thought. The hardest part of making the decision is p…
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There's a quote from this episode that I absolutely love, and it goes like this: "Where focus goes, energy flows." It's a simple phrase, but it can have tremendous power when it comes to centering, or re-centering, your life around the things that matter the most to you. In this episode, with the help of marriage and intimacy coach, Dr. Kate Mangon…
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Our society is increasingly become cashless and most of use rarely use actual money. We have money electronically transferred in and out of our bank accounts. So what does this mean for banking and how can you optimize your banking? Tune in to learn more. If you have ever thought of being an entrepreneur, then you definitely want to attend the Leve…
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Today's episode is a truly honest and vulnerable reflection on the value of doing hard things. Dr. Shehzad Batliwala, who featured as a guest in Ep. 53, was kind enough to join me for a second time on the podcast to talk about his recent trip to Tanzania to climb Mount Kilimanjaro. Needless to say, his story is incredible! From joining the expediti…
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If you invest in real estate syndications, you may have gotten notice about a capital call. Capital calls for real estate syndications have been on the rise in the last year. This week’s episode discusses possible causes for the increase in capital calls. Registration is now open for the Leverage and Growth Summit, which will be February 26 to Marc…
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Dr. Liz Aguirre is a remarkable women. She grew up in poverty without reliable access to food or shelter and is now a mom, wife, and a physician with passion for person-centered health. We talk about how she grew her wealthy mindset and how coaching has assisted that journey. I am so lucky to have great clients like Dr. Liz. You can find Liz Aguire…
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The Corporate Transparency Act, which was passed as part of the National Defense Authorization Act for Fiscal Year 2021, introduced new reporting requirements for businesses in the United States, specifically focusing on beneficial ownership. This episode details who needs to file a Beneficial Owner Information Report, what information is collected…
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Many people set goals or New Year resolutions around this time for the year ahead, and then never look at those goals again. In this episode, I talk about my thoughts and approach to goal setting as well as some goals I set over a decade ago that I recently accomplished. Please subscribe and leave a review on your favorite Podcasting platform. If y…
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The beauty of travel is that it can be anything you need and want it to be, for whatever chapter you're at in your life. It can be adventurous, relaxing, healing, horizon-expanding... you name it, and I think this episode really highlights the value in this versatility. I had the pleasure of having Dr. La Toya Luces-Sampson back on the show for the…
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Treasuries are considered one of the safest investments out there as they are backed by the full faith and credit of the US government. They can be directly purchased at TreasuryDirect.gov as well as bought and sold on the secondary market. Yet Treasuries are often overlooked by the individual investor compared to CDs (certificate of deposits). Thi…
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Hi everybody! I hope you were able to enjoy last week's episode, which was part 1 of an interview that I did with Dr. Tatyana Reznik on her podcast, the Voices of Women Physicians Podcast. This week we're back with part 2 to talk about travel planning tips for the new year. If I had to sum up the sentiment of this episode with a quote, it would be …
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A lot of physicians, including Elisa, love to travel. Dr. Weili (pronunced "Way Lee") Gray, host of the Dare to Dream Physician Travel Podcast talks about her journey from burnout to life planning to traveling around the world while still enjoying working as a physician. A pivoting point in Weili’s life was when she volunteered at a conference for …
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I think life planning is one of the most powerful tools that we have for envisioning and building the life that we want. And as I always say, it's as helpful the 10th time as it is the first time! This week's episode is from a recent interview that I did with Dr. Tatyana Reznik on her podcast, the Voices of Women Physicians Podcast. Dr. Reznik is s…
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Depending on background and circumstances, building a strong credit score may have come naturally or more be more difficult. It can certainly be more difficult to those who come to the United States, especially from countries that don’t use a lot of credit. In this episode, I discuss what goes into determining credit scores and how anyone can build…
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During this time of year, there are some people who do a lot of spending. While physicians tend to be considered good credit risks, there are some physicians who find themselves with credit card or consumer debt. While student loan debt doesn’t generally carry a feeling of shame, credit card debt can which means it may not be talked about. This epi…
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This week on the Dare to Dream Physician Travel Podcast, I'm thrilled to have a guest who truly embodies the spirit and name of this podcast. In just a few years, Dr. Nishi Bhopal has built the job and travel lifestyle that she always dreamed of by following her inner voice and aligning herself with her values. Dr. Bhopal is a board-certified Psych…
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I tend to space out episodes with guests but this week, I’m breaking that trend. This episode was created spontaneously after Nathan and I started having a conversation that seemed like it would be relevant for the podcast. We’ve been married for 23 years, and together for 26 years so it’s a lot of time to reflect on. I’m really curious to get your…
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Dare to Dream Physician Resources: DM me on FB, IG, or LinkedIn to learn more about travel hacking with credit card points to get free flights, lodging, and more! Get a bonus with Rakuten AND support the Dare to Dream Physician! https://www.rakuten.com/r/NEODEN2 Dare to Dream Physician https://daretodreamphysician.com DreamPhysician on Instagram ht…
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Dare to Dream Physician Resources: DM me on FB, IG, or LinkedIn to learn more about travel hacking with credit card points to get free flights, lodging, and more! Get a bonus with Rakuten AND support the Dare to Dream Physician! https://www.rakuten.com/r/NEODEN2 Dare to Dream Physician, Life Planning for Physicians https://daretodreamphysician.com …
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Elaine Stageberg, MD is a trained psychiatrist, who alongside her husband Nick, built a real estate empire valued at over $330M. Elaine and Nick founded Black Swan Real Estate where they started with single family homes and have since expanded to much larger projects. None of this was handed down to them by their families. Tune in to learn more abo…
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If you're a world traveler, you're definitely going to want to listen to Dr. Jess talk about her experiences! She's been to 78 countries across all seven continents, and she's a wealth of knowledge when it comes to trip planning and balancing physician life with travel. Dr. Jess was actually one of my biggest inspirations to start traveling more wi…
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You’ve probably heard about hedge funds but you probably don’t know much about them. Honestly, I don’t know a whole lot about them either, I’ve never invested in a hedge fund personally. In the recent episode on diversification, I talked about a study by JP Morgan that came out this year showing that adding alternative investments to a traditional …
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Most people don’t look forward to spending time paying bills, tracking spending, or reviewing their personal finances. While some people enjoy the investing part, I would say even those people have something else they would prefer doing, meeting up with friends for dinner, watching a good movie, reading a good book, etc. Setting up systems and auto…
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This question gets asked a lot. People generally lament that it’s too late to invest in real estate, that they missed the good opportunity X number of years ago. The funny thing is that people continue to say that, and yet most people wish they actually got started when they first started thinking of it, except maybe if they started thinking of it …
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Dare to Dream Physician Resources: DM me on FB, IG, or LinkedIn to learn more about travel hacking with credit card points to get free flights, lodging, and more! Get a bonus with Rakuten AND support the Dare to Dream Physician! https://www.rakuten.com/r/NEODEN2 Dare to Dream Physician, Life Planning for Physicians https://daretodreamphysician.com …
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When it comes to investing, diversification is the key to increasing returns while reducing risks. Tune in to learn more about diversification, including diversifying beyond the traditional assets of stocks and bonds. You can find the report discussed in this podcast episode at https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/insights/…
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Two years ago, I was a guest on the Dare to Dream Podcast hosted by Dr. Weili Gray. Dr. Weili is a gifted interviewer and I love the conversation which become three podcast episodes. This is the second of a three-part series bringing you the episodes from the Dare to Dream Podcast. In this episode, we continue our conversation about money and how t…
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Dare to Dream Physician Resources: DM me on FB, IG, or LinkedIn to learn more about travel hacking with credit card points to get free flights, lodging, and more! Get a bonus with Rakuten AND support the Dare to Dream Physician! https://www.rakuten.com/r/NEODEN2 Dare to Dream Physician, Life Planning for Physicians https://daretodreamphysician.com …
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