Money Meets Medicine Podcast
MMM #46: We Are in a Pandemic; Do You Have Your Financial House in Order?
There are so many unexpected things going on in the world right now. In the midst of all the uncertainty, it’s important to have some financially stability. Today we’re talking all about estate planning. While we’re in the middle of chaos it’s time to get your financial house in order.
What You’ll Learn:
In today’s episode of Money Meets Medicine, “We Are in a Pandemic, Do you Have Your Financial House in Order?,” you’re going to learn…
- All about why you need an estate plan.
- How to develop an estate plan.
- What to do if you want to donate to charity.
- How to make sure your kids are going to be okay!
- And more!
Quotes To Remember
“Estate planning is still extremely important, because if you’ve got other things like kids, that’s worth way more than any amount of money you’re ever going to make tenfold.”
“You might want somebody to have guardianship over your children, but you might not want that person to manage your finances. It doesn’t have to be the same person, which is interesting.”
“A will, at its most simple form is just a legal document that states your financial and your medical wishes. It’s going to ensure that that property that you have or personal effects or your medical status, it’s basically all cared for in a matter of your choosing.”
“A trust is an enforceable document that you’re crafting while you’re alive, that can, one, it can help reduce estate taxes, which we talked about is likely not the case, but it could plan for the care of your children.”
This Episode’s Sponsor
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TPP
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Dr. Peter Kim and Physician Entrepreneurship
Have you ever thought about using real estate to reach financial independence, but you didn’t want to be a landlord?
Recently I sat down with one of my good friends and one of the OG partners of The Physician Philosopher. He’s an anesthesiologist, husband, father, entrepreneur, as well as a real estate and physician side gig guru – of course, I’m talking about Dr. Peter Kim.
One of the interesting things about Peter’s story is his transition from full-time practice as an OB anesthesiologist to stepping away from medicine and going part-time, to now his being on sabbatical. He’s not sure if that’s a permanent sabbatical or not, so we got to explore his thought process on that and his story.
So let’s dive into this discussion with Dr. Peter Kim and the intersection of all things entrepreneurship, side gigs, medicine, money, and real estate.
Need help getting disability insurance or student loan help from a company built by doctors, for doctors? Make sure to check out HelloAttend.com
Are you ready to live a life you love?
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