A Physician’s Guide to Wealth - 7 Part Meaningful Goal Setting Framework

Financial Residency

This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.

** if you didn’t already, tune into the 3 Simple Summer Money Hacks Episode**

James Nutter breaks down a game-changing framework to help physicians achieve their financial goals, adding a powerful fourth step to his previous three summer money habits. James introduces the meaningful goal-setting model, personalized for each physician's unique journey.

He navigates through goal identification, setting smart deadlines, prioritization, and the importance of visualization and accountability. Dive in to discover how to stay financially on track, avoid burnout, and live a fulfilling, present life while aiming for future financial success. Listen for actionable insights and practical advice.

7 Part Meaningful Goal Setting Framework.

1. identify your goals - things you want in life.

   1. Places you want to go

   2. Things you want to do

   3. Things I want to have

   4. next 12 months

   5. next 3 years

   6. next 5 years

2. write them down and share them with others - how much would it cost? vision board.. what am I staring at in the face every day?

3. Identify what challenges could come up

4. set deadlines - if there’s no deadline it’s just a dream

5. prioritize your goals - items of wants and needs in a logical order

6. visualize your goals - picture yourself accomplishing the goal.

7. be persistent

With your new commitment to financial wellness and investing back into yourself what kinds of things do you want more of?

What new lifestyle things will you want?

Investments

Real Estate Kids College Funds

Retirement planning

Experiences

Loans

Travel

Car

House

Luxuries

Country Club

Training / Events

New Healthy Lifestyle choices - join x gym

What does a meaningful life mean to you?

Cost to create your new meaningful life.

A. Cost to live per month - complete circulatory cash flow system training (use rocket money $8/mo to help you or budget tool in emoney)

B. Current take home monthly income.

C. Difference Between A & B. You either have a surplus or shortage.

D. Monthly Cost to accomplish the goals you wrote above (I.e. $1,000/mo in additional vacation, $600/mo car payment, etc.).

E. Add C&D. Your current need (or deficit) + Your vision.

F. What is your projected future monthly income?

H. Projected Surplus (or shortage). Subtract F minus E.

I. What else would you like to do with your surplus? If you have a shortage, what else can you do to make more money and reach your goals?

Now visualize your meaningful journey. What will life be like at the new level?

Current lifestyle - what does your current life afford you.

Investments

Loans

Retirement funds

Kids college

Real Estae

Car

house

bills

luxuries

vacations

country club

self care

gym

NEW LIFESTYLE - what my life will look like at this level

what will I improve.. what will I do different

Investments

Loans

Retirement funds

Kids college

Real Estate

Car

house

bills

luxuries

vacations

country club

Self care

gym

Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.