Money Meets Medicine Podcast
MMM #27: Strategies for Handling Market Corrections
It seems that the market has seen more volatility in the last 12 months than it has seen in the last 10 years. This volatility has turned seemingly solid investors into worried investors with a quivering lip at times. Why? Because of the market corrections that were experienced. If market history has anything to say, there are more market corrections on the way. How should you handle them? That’s what this post is all about!
What You’ll Learn:
In this episode of Money Meets Medicine, “Strategies for Handling Market Corrections,” you’ll learn:
- How to handle a volatile market.
- Why it’s a waste to try and time the market.
- Why you should act like a bear during a bear market.
- Why corrections for the market are actually healthy.
- And more!
Resources from the Episode:
Should I Sell When the Market is Low? Dealing with the Bear Market
This Episode’s Sponsor
This episode is brought to you by Michael L. Relvas. Michael is a CFP Professional and insurance agent committed to helping physicians nationwide with their term life and disability insurance needs. He provides an objective, transparent and education-focused process, that aims to help physicians make prudent decisions and avoid over-complicating things.
We really like Michael and know he’s got your best interest at heart when it comes to disability insurance. We know he’d be happy to help you with whatever your needs are.
You can find Michael at https://thephysicianphilosopher.com/mrinsurance or contact him at 800-817-4522.
Listener Question of the Week:
Today’s listener question comes from Marc Warner,
With Cash Balance Plan, 401k, and profit sharing, I can contribute 220k a year pretax. On retirement my nest egg would be 85-90% in tax deferred vehicles. Would there ever be a case to not take advantage of the tax deferral to diversify my retirement tax treatment.
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
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As the saying goes, money is 80% behavior and only 20% math.
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There’s no shame in asking for help – you just want to get the help you need at a fair price.
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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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