The Physician Philosopher's Guide to Personal Finance

47min | 06/27/2019

Description

The next three episodes comprise an intro to the Physician's Guide to Personal Finance. We start with the Physician Philosopher, an anesthesiologist blogger who wants his audience to understand their "why" to understand their "how" of personal finance. Next week we interview Bonnie Koo, MD, the voice of female physician finance, and the following week we interview Ryan Inman, a fee-only financial advisor who understands the specifics of physicians' financial needs as he exclusively works with us and he's married to one of us.

To understand The Physician Philosopher's book, you first need to understand the Pareto Principle, or the 80/20 rule, which states that 80% of the effects come from 20% of the causes. James Turner, MD, aka Physician Philosopher, believes this about personal finance. To get 80% of the benefit, you only need to understand 20% of the concepts. To quote the phys ed coach from Teen Wolf, “the rest is cream cheese.” We discussed the 20% he wants physicians to understand to take control of their personal finances.

He completed his undergraduate studies at Erskine College, went to medical school at Wake Forest, was an anesthesia resident at North Carolina Baptist Hospital before returning to Wake Forest as a regional anesthesia and acute pain management fellow and there he has stayed as an attending. He is currently creating a personal finance curriculum for the PA, CRNA and medical students of Wake Forest. His blog is thephysicianphilosopher.com, now part of the White Coat Investor Network, and his new book, The Physician Philosopher’s Guide to Personal Finance, is available everywhere fine books are sold.

We start out discussing some philosophical questions, the Kinder questions, that have helped him to focus on his priorities and why this is critical in personal finance. We get into the financial independence movement and how to calculate how much money you need to be financially independent; why it is totally fine that he bought a tricked-out new car despite this being anathema to his spending philosophy, an introduction to public student loan forgiveness and who should be looking into this, and why the 80:20 rule may help you avoid the need to hire a financial advisor.

Find this and all episodes on your favorite podcast platform at PhysiciansGuidetoDoctoring.com

Please be sure to leave a five star review, a nice comment and SHARE!!!

Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow!

Disclaimer:

This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

Description

The next three episodes comprise an intro to the Physician's Guide to Personal Finance. We start with the Physician Philosopher, an anesthesiologist blogger who wants his audience to understand their "why" to understand their "how" of personal finance. Next week we interview Bonnie Koo, MD, the voice of female physician finance, and the following week we interview Ryan Inman, a fee-only financial advisor who understands the specifics of physicians' financial needs as he exclusively works with us and he's married to one of us.

To understand The Physician Philosopher's book, you first need to understand the Pareto Principle, or the 80/20 rule, which states that 80% of the effects come from 20% of the causes. James Turner, MD, aka Physician Philosopher, believes this about personal finance. To get 80% of the benefit, you only need to understand 20% of the concepts. To quote the phys ed coach from Teen Wolf, “the rest is cream cheese.” We discussed the 20% he wants physicians to understand to take control of their personal finances.

He completed his undergraduate studies at Erskine College, went to medical school at Wake Forest, was an anesthesia resident at North Carolina Baptist Hospital before returning to Wake Forest as a regional anesthesia and acute pain management fellow and there he has stayed as an attending. He is currently creating a personal finance curriculum for the PA, CRNA and medical students of Wake Forest. His blog is thephysicianphilosopher.com, now part of the White Coat Investor Network, and his new book, The Physician Philosopher’s Guide to Personal Finance, is available everywhere fine books are sold.

We start out discussing some philosophical questions, the Kinder questions, that have helped him to focus on his priorities and why this is critical in personal finance. We get into the financial independence movement and how to calculate how much money you need to be financially independent; why it is totally fine that he bought a tricked-out new car despite this being anathema to his spending philosophy, an introduction to public student loan forgiveness and who should be looking into this, and why the 80:20 rule may help you avoid the need to hire a financial advisor.

Find this and all episodes on your favorite podcast platform at PhysiciansGuidetoDoctoring.com

Please be sure to leave a five star review, a nice comment and SHARE!!!

Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow!

Disclaimer:

This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

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