fbpx

Money Meets Medicine Podcast

MMM 67: Mistakes Doctors Make When Switching Jobs

Switching jobs in medicine is extremely common. In fact, over 50% of doctors change jobs within 2-5 years of signing a contract.  And, honestly, this is one of the most common opportunities to make a financial mistake.  This explains why one of the most common questions we hear is what someone should do with their financial situation when they change jobs. 

Attend

From backdoor Roth IRA mistakes to not maxing out retirement accounts – this episode covers it all. Join in as we discuss the mistakes you should avoid if you are switching jobs (or ever plan to). 

Today You’ll Learn

  • How to get your investments right when changing jobs.
  • The one mistake to avoid so that a Backdoor Roth IRA is still available to you after switching jobs.
  • How to avoid a massive student loan mistake that could cost you hundreds of thousands of dollars
  • And more!

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

You might also be interested in…

Greed, FOMO, and Bad Investments

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

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

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?