Money Meets Medicine
New episodes every Wednesday
Meet the hosts
James D. Turner, MD
Practicing physician and self-described personal finance nerd.
Flat, fee-only financial planner and owner of Physician Wealth Services.
The personal finance space is full of rules. Things you should be doing with your money and things you should stop doing with your money. Certain numbers you should be aiming for at specific points in your life. But do you really need to follow every single money rule out there when it comes to personal finance? Which personal finance rules and numbers are most important and which ones might not matter at all.
People often think about money as the end goal. The reason they work, save, and make decisions in life revolve around this idea that they are striving to meet a money goal. But today we are going to flip the script on this mindset around money. Instead of thinking of money as the goal, we are going to look at money as a tool.
Everyone in the personal finance space loves to tell you how you should save money. That’s great, but what about spending it?
That is exactly what we want to dive into today on the show. Ways to spend money that make sense we have talked about before include spending to get your time back, vacations, and spending on others (gifts, holidays). But today we want to encourage you to spend lavishly on your on things you love. Yes, as money gurus we are going to talk to you about spending lavishly (and smartly of course). So let’s go.
You might think that the only person that influences your financial success in the short term and the long term is you. The truth is you can have little to do with how successful you are in planning out your finances and investing. This is because there are certain people in your life that influence what decisions you make and how. These people ultimately determine your success.
Should physicians save for retirement or help their family? In today’s episode of Money Meets Medicine, we talk about a few different scenarios that life may present you when it comes to your finances and how to best position yourself if you ever have to make a choice.
What are the top financial rules a resident should follow while in training? Keep listening to find out what made it on our list here on Money Meets Medicine!