Money Meets Medicine Podcast
MMM #17: Bonds… James’ Bonds “Turner”
It is usually recommended to have at least some bonds in your portfolio. What would you think if I told you that Ryan – a financial planner – doesn’t have any bonds in his own portfolio. Join along as we discuss the purpose of bonds, and if there is anything we can use as a bond surrogate to help perform the function of bonds… without actually owning any. Ludicrous? Or Inventive? You’ll have to listen to find out.
What You’ll Learn:
In this episode of Money Meets Medicine, “Bonds… James Bond’s “Turner” you’re going to learn all about bonds and if they’re right for your investing portfolio. You’ll also learn:
- Why investing is going to look different for everyone.
- Why everyone should have at least some bonds in their portfolio.
- What’s the best proxy for you?
- What are bonds actually and what kinds are there?
- And more!
Quotes to Remember:
“Personal finance is personal! What works for me may not work for you.”
“If you want to grow you capital.. stocks are really the way to go. Bonds are for capital preservation.”
Resources from the Episode:
Got Student Loans? Alter Your Asset Allocation.
This Episode’s Sponsor
This episode is brought to you by Robert Kaplan, CFP of Kaplan Financial which can be found at Kaplan Financial . Robert specializes in serving the unique disability insurance needs of over 2,500 physicians nationwide. Robert, who has been married to a practicing physician for over 25 years founded Kaplan Financial in 1990. Kaplan Financial is the place to go for objective and experienced financial advice, discounted rates on individual disability insurance, and a long-term commitment of superior service.
So, if you are in need of disability insurance, don’t hesitate to reach out to Robert at KaplanFinancial.net or if you prefer email or phone you can email Robert at [email protected] or call him directly at 818-783-6620.
Listener Question of the Week:
Today’s listener question comes from Dr. Jason Bethea who asks:
My wife has 3 retirement accounts from previous jobs (internship & first attending job) that are with TIAA and Fidelity. Most are target date funds with expense ratios from 0.07% and 0.45%, I believe. What are our options for these now that she does not work for those institutions anymore? I know that we can invest in different funds that are available on TIAA and Fidelity but do we have any other options? She was a 1099 employee with her first attending job but we are both W2 currently. Thanks.
Each episode, we are going to start including listener questions as they are provided to us. So, if you have a specific question you’d like answered on the podcast reach out to us! Email [email protected] or [email protected]
TPP
2 Comments
Submit a Comment
You might also be interested in…
Greed, FOMO, and Bad Investments
Despite our best intentions, certain emotions can keep us from building wealth. After many years arming physicians with the information they need to achieve financial wellness, I had a significant realization.
Information is one thing – behavior is another.
As the saying goes, money is 80% behavior and only 20% math.
Not only do I want to share important information about personal finance, I also want to help you recognize how certain behaviors can (and do) affect your finances.
Drawing from one of the classic books about investing, let’s go over five common behaviors that could be keeping you from achieving your financial goals.
How Doctors Can Get Good Financial Advice
Many doctors and high-income professionals hire financial advisors for any number of reasons. Either they’re too busy to handle their finances themselves, they don’t really know how to invest, or they want an expert on their side to make sure they’re on the right track.
So allow me to say from the start: I’m not against financial advisors, but I am against doctors (or anyone, really) being overcharged for bad advice.
There’s no shame in asking for help – you just want to get the help you need at a fair price.
You should be equipped enough to vet and evaluate your financial advisor so you’ll know whether they’re working well on your behalf. How can you be as confident as possible they’re acting in your best interest? This episode will help you find out.
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?
© 2021 The Physician Philosopher | Website by The Good Alliance
Perhaps my morning coffee hadn’t kicked in yet, or I just am that financially illiterate, but can you explain more the concept of a mortgage or student loan being bond proxy? I didn’t understand the concept.
Hey Stephen, so here is the idea. The purpose of a bond is to stabilize the volatility that you experience in the stock market. So if you have a mortgage or student loan within interest rate of three or four percent then you can view that as a “guaranteed return” that is “safer” than investing in stocks.
In this way it can serve as a proxy or surrogate for bonds.