Money Meets Medicine

Because of Lisha and my personal journey with personal finance, I know that there are medical professionals out there who want to provide personal finance lectures to others around them or maybe even create a personal finance curriculum if they are in academics. So if you are that resident or doctor interested in creating a personal finance curriculum for doctors or maybe just teaching friends and family about money, today’s episode is for you. Today we are going to be talking about how you can start teaching other doctors and medical professionals about money.

Everyone has heard of a backdoor Roth IRA, but what’s the big deal with Roth IRA’s anyway? Today, Dr. Lisha Taylor and I are going to be talking about Roth IRA money for physicians. This is an important topic because doctors often need to use any tax-advantaged space they can get their hands on since we normally have a high savings rate. So join us today to learn what a Roth IRA is and why you should seriously consider one as a physician.

You might be looking for tax loopholes for doctors as we enter everyone’s favorite time of year. The truth is there are tips and tricks that you likely are not taking advantage of as a doctor that will help you reduce your taxes. In this episode, we will give you the top things you can do now (and for the future) to save money on your taxes as a doctor.

One thing we can agree on about today’s topic is this: doctors historically are under-savers.

But when it comes to physician money management, exactly how much doctors should be saving is hotly contested. How much and how you save is going to depend on your own financial goals and your current situation – the status of your student loans, whether you’re married or have kids or plan to start a family when you want to retire, etc.

In this episode, we’ll give you two different options for figuring out how much money you should save – regardless of your situation.

Doc, are you thinking about making some New Year’s resolutions that involve your personal finances? Hopefully that is a loud YES. Well, today on the podcast we are talking all about financial goals for the New Year that you likely have as a physician.

Let’s be honest… we all love learning from other people’s financial mistakes. It is like a slow-motion car accident. You just can’t take your eyes away. Money mistakes are going to happen, and we are going to discuss a few common financial mistakes that doctors make. Come join Lisha and I as we discuss our share of financial mistakes, and some of them are very common and might resonate with you on episode this episode of Money Meets Medicine.