S3, Episode 4- Why I Won’t Retire by 45 (Case Study)

January 20, 2017

In our last podcast episode, we examined the case study of PhysicianOnFire and how he will retire by 45.

However, for many of us, that simply isn’t a reality. Retiring by 45? You might think this is impossible. You might even think that is crazy. Maybe you are looking at retiring at 50, 55, 60, 65, or even 70 years old.

Maybe that’s frightening and scary for you. Guess what? You’re not alone. I’m there too. I can’t retire by 45. It’ll probably be 60 or 65.

Let me explain more.

In this podcast, you will discover...

  • My Biggest Investment Mistake (Hint: It wasn't a stock, bond, mutual fund, or other security)
  • 5 Reasons Why I Won't Retire at 45
  • The 11 Assumptions That I am Making For My Retirement
  • How Equity In My Practice Will Impact My Assumptions

For the whole podcast, show notes, and loads of free resources, check out the podcast website at www.doctorfreedompodcast.com

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S3, Episode 3- How This Doctor Can Retire by 45 (Case Study)

January 13, 2017

For all the show notes, resources, and loads of free stuff, check out the podcast website at www.doctorfreedompodcast.com

 

This month, I am sharing a case study or two of physicians that can and will retire before 45 and why many of us (including me) won’t retire until well after 45.

The first person I thought of is my frequent email correspondent and fellow northerner PhysicianOnFire.

He has an incredible blog dedicated to FIRE- Financial Independence Retire Early.

I read at least one of his blog posts every couple of weeks and share them freely on social media.

While he’s never revealed the Clark Kent behind his Superman identity nor the Physician behind the Fire, we can learn a ton from him.

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In this podcast, you will discover...

 

- 5 Lessons on Retiring Early from PhysicianOnFire

 

- Learn the sacrifices he made with time and money to get to this point (& how you can too)

 

- Discover the bonus lesson that I think has made all this possible and the additional podcast that you need to listen to (Hint: It has to do with a ring)

 

- What 10 financial habits he exercised and helped him grow his financial muscles

 

- Discover the numbers that reveal why he could retire by age 45

 

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S3 Episode 2- Part Two- Peter Kim- Financial Prosperity Through Mentorship

January 7, 2017

In part two of this interview with Dr. Peter Kim, you will discover:

- How his frustration with real estate led to a side hustle

- How he is monetizing the side hustle without physicians paying out of pocket for his services

- The non profit that is close to his heart & why he is donating to this cause

- How he found the time & passion outside of medicine & why he found more focus

- Why he thinks entreprenuership isn't a special characteristic trait & why he thinks any physicians can do it

- Learn how he is reducing his clinical hours & his plan for the future

- Discover the role of real estate in his portfolio & his goals

Click here to discover all the resources, show notes, and mentions from this podcast episode.

 

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S3 Episode 2- Part One- Peter Kim- Financial Prosperity Through Mentorship

January 6, 2017

Some of us have to learn the hard way... through the school of hard knocks and through our own mistakes.

Others of us embrace our mentors. Sometimes it may take a kick in the rear end or sometimes a moment of epiphany.

Our next guest has experienced all of this and has some incredible words of wisdom for us.

Click here to discover all the resources, show notes, and mentions from this podcast episode.

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Welcome back to our monthly fireside chat with a physician to get to know their journey, their joys, and their struggles with finances and outside of finances.

Our next guest has not only been a physician, but also has created a side-hustle focused on concierge real estate for physicians called Curbside Real Estate.

A little bio on him… he is practicing, full-time, anesthesiologist. He lives in beautiful Sunny Southern California, my birth home. Go Lakers!

I mentioned that he has this passion from real estate that stemmed from his own frustrations and failures.

I know he has a ton of wisdom to share with us and with no further adieu…

Please help me welcome Dr. Peter Kim!

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In part one of this episode, you will discover:

- How his relationship with his dad led to a passion of medicine

- The moment his engagement changed his perspective on finances and his management of money (Hint: It had to do with his father-in-law)

- The lessons he learned growing up & how debt impacted his future life

- The number of credit cards he had & why he fell into that trap

- How he hustled and got it all paid off within 1 year

- How my wife and I differ on how we grew up with money

Click here to discover all the resources, show notes, and mentions from this podcast episode.

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S3, Episode 1- How To Start Your New Year

January 1, 2017

Make sure to check out all the show notes and resources by visiting www.doctorfreedompodcast.com

 

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In this episode, you will discover:

 

- Two habits I am picking back up and doing more of in 2017

- My challenge to you

- 2 whole new introductions. Which will you want in 2017?

- Have you checked out the new podcast art? What do you think?

 

 

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In Memoriam- Amanda Liu, MD

December 30, 2016

In this episode, I am honoring my friend Dr. Amanda Liu with the last podcast of the year.

About a month ago, she passed away unexpectedly.

She was a bright, bubbly light showing the way to prosperity.

She left for us a legacy of love, caring, and devotion to medicine, colleagues, and most of all, her family.

I'm not sure how long her website may be in existence due to her passing away, but you can discover her nuggets of wisdom at www.drwisemoney.com for as long as it is available.

I hope to preserve her legacy and her mission on a go-forward basis.

May she rest in peace.

 

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[Best Of] The Best 12 Pieces of Advice from The Advisor to Doctors

December 23, 2016

In another 'best of' episode, I am bringing to you the 2016 solo show that I am very proud of. It's hard to choose your favorite child...

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Anyhow...

Have you ever wondered, am I making the right moves?

Have you ever worried, gnashing your teeth over a financial decision?

Like most of my listeners and readers, maybe you’ve even made a few mistakes along the way.

I’m constantly reading and learning and growing. As a matter of fact, I recently read an article from another financial advisor and he gives the 11 Best Pieces of Advice from a Financial Planner.

Some of them were awesome, some of them I disagreed with, and others I think just simply don’t apply to doctors.

In this podcast, I give my reactions to his article and what he missed out on that is specific to physicians and other white coats.

Would it be okay if I shared them with you?

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In this podcast, I reveal…

–  The best piece of advice that EVERY doctor and (pretty much everyone else!) should be doing EVERY month

– The strategy that the author mentioned that was completely self-serving and what you should do instead

– The three amazing strategies that are physician specific that MOST financial advisors (and thousands of doctors) miss out on

For the full transcript, the show notes, and loads of free resources, check out www.doctorfreedompodcast.com 

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[Best Of] Dr. Pamela Wible, MD- How to Break Free of the Machine

December 16, 2016

In this best of throwback episode, we explore one of my very first [and best] podcast interviews in 2015. 

For the show notes, loads of resources, and tons of free stuff, visit the podcast website at www.doctorfreedompodcast.com

Back in 2015, I was working on networking with other authors and experts who can speak to the issues that physicians face every day.

For example, what can physicians do to become financially free and truly enjoy their job? How can they look forward to going to work every day? 

That’s why I thought I’d bring a special guest to the podcast, Dr. Pamela Wible.

Pamela Wible, MD, is a family physician and pioneer in the ideal medical care movement. In 2004, Dr. Wible left assembly-line medicine and held town hall meetings where she invited citizens to design their own ideal clinic. Open since 2005,  Dr. Wible’s innovative practice has inspired physicians to create ideal clinics nationwide.

This interview reveals the following:

– How she started up & maintains a simple, yet highly profitable (90%!) margin practice

– The secrets to systematizing & automating a practice (Including revealing the billing tool she uses)

– What critical skills doctors miss in their training (Hint: they do this every day)

– How much money doctors should spend on advertising when they own their own practice

– When physicians should go to counseling to maintain their sanity & inner peace (and who they shouldn’t go to)

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The Top 3 Financial Games of All Times

December 9, 2016

For the full podcast and all the show notes, visit www.doctorfreedompodcast.com

With Christmas coming around the corner, family is on my mind!

In my family, we love to play all kinds of games. As a kid, we love Pinochle and Jenga and Match game and Chutes & Ladders and 'The Dice Game' and Yahtzee. 

In reflecting on some of my favorite games (that aren't listed above), they really shaped & influenced my perception of money.

Are you looking for an amazing Christmas present that will be both fun & educational? Look no further!

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In this podcast, you will discover:

  • The 3 games that my listeners recommended
  • My favorite all-time financial game that involves drilling for oil
  • My recommended game that boils down Monopoly to only 15 to 20 minutes
  • The top 4 lessons learned from Monopoly (Hint: One of them involves a mortgage)
  • How to read your opponent's personality before you even start playing Monopoly
  • The 2 games that I haven't played yet and want to check out
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Bo Liu- Making It Rain Dollars in Debt Forgiveness

December 2, 2016

For all the show notes, resources, & loads of free resources, check out more podcasts at www.DoctorFreedomPodcast.com

 

Have you struggled with trying to decide how to tackle your mountain of student debt?

Have you felt like pulling your hair and throwing your hands up in frustration over all of these options?

PSLF, IBR, PAYE, ICR, & REPAYE. All these acronyms floating around in your brain and you aren't sure which one to choose!

Well my friend, no worries we have your back covered today!

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Welcome back to our monthly fireside chat with a physician to get to know their journey, their joys, and their struggles with finances and outside of finances.

This show is not always about actionable content. It is however a chance for you to see behind the curtains, to walk in another person’s shoes and experience their lives.

Our next guest was kind enough to allow me to guest post on his blog for the second time and now he is generous enough to share with us his journey and his wisdom.

I wanted to invite him back because he is a wealth of knowledge! As a matter of fact, he helped my wife and I save a few hundred bucks on our phone upgrade.

He is currently a radiology resident at Florida Hospital Orlando. Throughout his medical education, he’s noticed a surprising lack of personal finance knowledge among young medical professionals, many of whom are extremely bright and talented. Hence, he created a blog, FutureProofMD.com
Currently, he’s been focusing on topics relevant to a recent medical graduate such as loan repayment and financial organization.
I can’t wait to get an update from him!

Please help me welcome Dr. Bo Liu

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In this podcast, you will discover...

  • Why he switched from IBR to REPAYE
  • His inspiration to start a blog
  • Learn how you can get the government to subsidize the interest on your loans
  • Why you need to understand the difference between subsidized & unsubsidized loans
  • Why paying zero is a good thing (Hint: It leads to a lot more of something good)
  • Discover the burden of capitalized interest & why REPAYE wouldn't be a good fit for some doctors
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