S4, Episode 18: [Physician’s Fireside Chat] with EJ from Dad’s, Dollars, & Debts

April 27, 2018

Our next guest is a cardiologist from Northern California… and you guessed it- he is also a…. blogger- another blogger I found courtesy of the extremely lengthy blog roll from PhysicianOnFire.

He’s someone who is really passionate about his family and is playing around with the idea of retiring early but doesn’t seem quite sure yet. So, we’re going to get into that.

He’s 5 years into being an attending physician and is well on his way to financial independence.

Anyhow, I can’t wait to hear about his journey and his advice for us!

Please help me welcome EJ from Dads, Dollars, and Debts. Welcome EJ!

In this podcast you will:

  • Acquire his views on living a modernism lifestyle versus a minimalist lifestyle.
  • Learn how his family influenced his habits with money: spending and saving. Did EJ take on his parents spending habits?
  • Discover how a house fire ended up benefiting EJ and his family financially.
  • Hear how EJ and his wife view spending money and how they balance their differences. (HINT: You may be surprised how EJ handles their differences.) 

For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

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Minisode-ParadisePracticeWorkshop.com

April 24, 2018

Have you ever wanted to open your own cash-based, insurance free practice?

If the answer is YES then I invite you to attend a special workshop, led by my friend. Dr. Mike Woo-Ming, who I’ve previously interviewed on this podcast.  

Mike is a physician Entrepreneur, who has been quietly teaching physicians a special type of medical practice that is cash pay only and takes no insurance.

He calls them “Paradise” practices.  And they have been wildly popular not only for patients but for the physician owners. Because it allows you to work less while making more.

Well, Mike and his team are looking to help more doctors who want to learn this successful system that trains you to build these cash pay, insurance free practices that can work in almost any location.

And as friends of the Doctor Freedom Podcast, He wants to give my podcast listeners a special discount if you would like to attend this exclusive workshop

If this Resonates with you, I invite you to go to this link ParadisePracticeWorkshop.com/freedom And receive $100 off your registration.

That’s ParadisePracticeWorkshop.com/freedom and get $100 of your ticket.

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S4, Episode 17-Discovering the Challenges and Successes of Being Married to a Physician with Lara McElderry [Married to Doctors.com]

April 20, 2018

My friends, in this show, I try and dig deep to find interesting people. Our guest today is not a doctor, but she is married to one. She is married to a surgeon and she is on a mission to help other physicians. Help them to understand their path and what it is like to be married to a physician.

 

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She and her husband got married before he started his medical path. For 16 years they have struggled, triumphed through the MCAT, through medical school, through residency and fellowships including a specialty change. They have 4 kids and she knows that being married to a physician is not an easy journey. I know she is going to bring to us some wisdom and talk to us through their journey.

Please help me welcome, Lara McElderry! Welcome, Lara!

In this podcast you will:

  • Learn the lessons that Lara would share with the physicians on how they could support their spouse and nurture their marriage.
  • Discover the curveball that they dealt with that could have ended her husband's medical career.
  • Learn how they survived having 3 kids while her husband was in medical school and residency and Lara was a stay at home mom.
  • Find out the 3 subjects she aims to focus on within her podcast: Married to Doctors.
  • Take in the biggest financial mistake that they made that Lara would not want you to do or have to go through.

For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

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S4, Episode 16-[Physician Fireside Chat] Doctorpreneur, Survivor, Physician Edna Ma-Part 2[ednama.com]

April 13, 2018

Our next guest is a board-certified anesthesiologist working both in academic/private hospitals in Los Angeles. She is an entrepreneur, an author and a mother of two and a wife. Where does she find the time?

In an attempt to raise money for her start-up, she accepted the challenge and opportunity to compete as a castaway on the hit reality TV show Survivor. She was on the hit TV show during season 5 of Shark Tank.

Edna has written three children’s books which celebrate cultural and racial diversity.

Outside of the operating room, Edna attempts to balance work, life, and being mother/wife. I bet she has some tips we all could use for work-life balance.

Please help me welcome Dr. Edna Ma!

In this podcast you will:

  • Discover how Edna balances her medical career, family, and entrepreneurship ventures.
  • Explore the pros and cons that came from her experience on Shark Tank, Did she get a deal???
  • Receive tips and tricks to help you get on Shark Tank, the process may be a lot different than you may think it would be.
  • Learn what new side hustle she is involved in (HINT: It's something that I have focused some podcasts on and I'm diving into myself!) 

For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

 

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S4, Episode 15-Dollars and Sense- A Book Review

April 6, 2018

When you think about money, your spending habits, and your instincts do you analyze the mental and emotional side to finance? Most people do not realize that there is a correlation between spending and human emotion. 

Emotions play a powerful role in shaping our financial behavior, often making us our own worst enemies as we try to save, access value, and spend responsibly. 

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I have read the book: Dollars and Sense by Dan Ariely and Jeff Kreisler. I am going to give you a short synopsis of the book and my thoughts on the mental side of spending and saving your money.

In this podcast you will:

  • Learn the mental side of finance aka behavioral finance and how your spending habits may or may not change based on your mood.
  • Discover if getting something for free is too good to be true (HINT: You may be surprised by the very common result of a free promotion). 
  • Acquire ways that people avoid pain when it comes to money and spending. A lot of these tips are very easy to put into your routine.
  • Gain practical tools needed to understand and improve your financial choices, save and spend smarter. 

For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

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S4 Episode 14-How the New Tax Reform Impacts You-Part 6-Small Business Owner, S Corps or Sole Proprietorship

March 30, 2018

Hello my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast.  The podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.  As you know, there has been a lot of focus on the tax reform.  This will be my final one for the current future, and today's focus will be small businesses-S-CORPs, sole proprietorships, etc.

In this podcast you will:

  • Discover how the new tax reform will impact small businesses
  • Learn the difference between a s corp and a sole proprietorship
  • Discover how taxes differ between FICAs-Social Security and Medicare
  • Get lots of questions answered from our episode with Craig Cody in February 2018
  • Learn the difference between "above the line" and "below the line" tax deductions
  • Uncover the still looming question, "Does the taxable income have to do with all of your income, or is it just based on your business income?"

Resources mentioned in this podcast:

How Pass-Through Income Will Be Taxed In 2018 For Small Business Owners

Tax Reform! How Physicians and the Self-Employed are Affected

Individual Tax Planning Under The Tax Cuts And Jobs Act Of 2017

Trump Tax Reform Calculator

A Tax Professional’s Take on Trump’s Tax Plan

If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222.

If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my website
www.doctorfreedompodcast.com.

Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.

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S4 Episode 13-Home Buying and Interest Rate Update With Josh Mettle of Physician Financial Success

March 23, 2018

Hello my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast.  Joining us for this episode is a three-time guest.  He is an author, mortgage lender, specializing in physicians, dentists, CRNAs and PAs, and you'll hear him on his own podcast, Physician Financial Success Podcast.  Please help me welcome Josh Mettle. 

In the past we've discussed buying homes and rental real estate.  This is a great time of the year to discuss these topics if you're transitioning to practice, buying your first home.  Or maybe you've been an attending for the last year or two and now you're considering buying your first home.  This episode is just for you. 

 

In this podcast episode you will:

  • Hear about the two colliding forces that will cause mortgage interest rates to go up from here on out, and how to prepare yourself for it
  • Learn why mortgage rates are starting to move up, yields are moving higher, how that is affecting the season of buying bonds and how that will make an impact on home purchases
  • Discover how new home sales, existing homes, and permits might be affecting demand and supply
  • Get great advice on how to look at purchasing and owning your home with the "big picture in mind" vs. your home owning you
  • Learn why living like a resident financially after transitioning to practice for the first couple years and paying off your student loans quickly will help you be better financially secure for the future

Resources mentioned in this episode:

Josh Mettle- Real Estate Smashing Failures & Glorious Successes

The Tax Reduction Prescription with Josh Mettle

Josh Mettle- The Pitfalls of Physician Mortgages

www.doctorfreedompodcast.com/homevalue

Physician Financial Success Podcast

 

 

If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my website
www.doctorfreedompodcast.com.

If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222.

Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.

 

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S4 Episode 12-”Taking Wise and Necessary Risks”-Enjoying Life with David Stein from Money for the Rest of Us

March 16, 2018

Welcome back my friends to the latest episode of Freedom Formula for Physicians' Podcast.  I'm honored to have a guest on here with us today that has tons of experience in podcasting. With over 6 million downloads of his podcast and an accomplished career in the financial world, he is now enjoying life, traveling the world, and helping people with financial issues and questions. Please help me welcome David Stein of Money for Rest of Us.  

In this podcast episode you will:  

  • Be motivated to not just settle with getting by
  • Learn how to think "forward" as our economy is always changing
  • Hear David's story of starting with nothing and moving to prosperity based on moving his thoughts to actions and taking necessary risks
  • Discover David's formula for how his podcast is growing-it involves investing in his listeners and giving away resources for FREE
  • Learn what some of the biggest financial pitfalls can be
  • Be motivated to develop a lifestyle business after retiring, especially if you retire early 

Resources mentioned in this episode:

Money For The Rest of Us Podcast 

If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my website
www.doctorfreedompodcast.com.

If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222.

Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.

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S4 Episode 11-How the Tax Reform Impacts You-Part 5-Residents and Fellows

March 9, 2018

Hello my friends, welcome back to another episode of Freedom Formula for Physician's Podcast, the podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.  

I am excited for the start of the year here, as we are well on our way into 2018.  I would like to ask a favor-could you take 5 minutes or less to rate and review the podcast on iTunes?   I'd like to give some listener love to a few people who have recently received the podcast:

Todd, KS (paraphrased)-I came across this podcast in early 2017, and it has been a wonderful addition to my morning routine and commute.  Dave has great guests on and gets right to their personal stories. These stories include financial struggles and pearls of wisdom-an enjoyable listen. Highly recommended!

Dr. Mike WM-An excellent podcast for physician's-young and old.  As doctors, we get zero business education in medical school, and Dave gives practical advice to help us on our financial journeys. Highly recommended!

There have been some BIG changes with taxes, and I've had a huge focus on addressing these changes between 2017 and 2018!  And as a friendly reminder, you can text LESSTAXES to 44222, and that will give you all kinds of information with the tables I've been going over and possibly help you to apply for your specific situation.

In this podcast you will:

  • Learn how itemizing is a much more difficult barrier for residents and fellows to get over
  • Discover the difference of tax savings between being single and being married

If you think you may be paying more taxes than the numbers I've crunched, I'd love to hear from you and look over those numbers with you to see if I might be off on your calculations or if you might off on your calculations.  Also remember, you can e-mail me at dave@doctorfreedompodcast.com.

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S4 Episode 10-Med School, Residency, Loans-”OH MY”!-Navigating the course of Medical School Debt with Travis Hornsby

March 2, 2018

Hello my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast, the podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.  And today we're focusing on the debt side of that equation.  

Our next guest founded Student Loan Planner after helping his physician now wife, now wife navigate ridiculously complex student loan repayments following med school.  To date, he has personally consulted on over $200 million in student debt, personally more than anyone else in the country.  And this is a guy after my heart own heart-he is an Eagle Scout, a CFA (chartered financial analyst, he used to do a bunch of trading back in the day.  Now, his focus is on student load debt payment.  Please help me welcome Travis Hornsby.
 
 
In this podcast you will:
 
  • Learn how to make a strategic plan when graduating from med school with significant debt
  • Get an inside look at Public Service Loan Forgiveness (PSLF) and how and when to apply
  • Discover how Travis and his wife Christine navigated through the FFEL (Federal Family Education Loan) program
  • Why you shouldn't consolidate all your loans at END of your residency
  • Learn about the Direct Loan Program
  • Why refinancing may be the best option to repay your student loans during residency

Resources mentioned in this podcast:

Contact Travis directly at travis@studentloanplanner.com

Student Loan Planner

 "To learn more about Student Loan Planner's services, see if a student loan consultant is right for you.
 
If you're confident you want to pay back your med school loans as fast as possible, check out these cash back bonuses for refinancing student loans."
 

If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my website
www.doctorfreedompodcast.com.

If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222.

Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.

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