Physician Family Financial Advisors Podcast

Physician Family Financial Advisors Podcast

As a physician mom or dad, you put everything into your practice and your kids and you want to make sure you’ll have enough for retirement some day. But work and family soak up most of your time and energy, so the last thing you want to do is sit down and dig through the ever-changing world of investment options and tax laws to find out what you’re missing and figure out what to do with your extra money. Join hosts W. Ben Utley and Nate Reineke, two Certified Financial Planner™ professionals on a mission to turn your worries about taxes, investments and extra money into a lifelong feeling of financial security. Together, we’ll tackle the top issues you’ll face as you invest for retirement, save for college and strive to protect your family from uncertainty. Subscribe now, then visit https://physicianfamily.com/podcast to learn more.

Episodes

March 20, 2024 22 mins

Physician culture is a funny thing. Your colleagues may be thinking the same thing you’re thinking (about paying for college) but you would never know.

Well, we do.

As our in house college planning specialist, Nate Reineke has written college plans to help the physician moms and dad we serve send more than 300 children to college.

So maybe your colleagues don’t talk to you about college but we hear about it all the time.
At least t...

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If something seems too good to be true, it probably is (not?)
When physicians hear that they could save tens of thousands of dollars in taxes by utilizing a Defined Benefit Plan for retirement saving, it sounds like a pipe dream.

Before you write this retirement savings tool off, think of it like this:
If something seems too good to be true, it probably is for most.
But if you are a high earning physician this tax savings dream cou...

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Happy (somewhat belated) Valentine’s Day physician moms and dads.
Did you remember to make a date or buy your sweetie flowers?
If you failed it’s not too late, you can still buy them a vacation home!

But should you?

Whether they are dreaming of a house in the mountains or a condo on the beach, your colleagues often cite three reasons to tie the knot on a second home and only one will end in true love.


Listen in as Nate and Ben pla...

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“If you don’t make time for your health now, you will be forced to make time for your illness later.”

You have heard quotes like this before but they don’t change the fact that it is difficult for physicians to make time for much of anything other than work and their family lives.

Listen in as Hannah Brandt - an expert in nutrition and helping busy physicians carve out time for a healthy lifes...

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Money won’t buy you happiness.

You have all heard this before and by and large everyone agrees with this statement, yet for many physicians your actions say otherwise.

Listen in as Nate lays out how working with hundreds of physician families has shaped his thinking on what living an abundant life really means and how you can shift your perspective about money to actually start living one.

 

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Remember the good old days?

I’m not talking about the days where teenagers consistently used words like “sir” and “ma’am”, I’m talking about when those teenagers could get away with paying for college with nothing but the income they earned from their summer jobs. 

While those days are gone, the College Board just came out with some good news about the rising cost of college. Listen in as Ben ...

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Einstein famously said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.”

In today’s episode Nate and Ben discover that this compounding effect is not unique to your investments with money. It works the same way with your joy and ability to create memories early in your life. Listen in to find out how thinking about your physician inheritance ...

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Did you brush your teeth today? Of course you did.

But did you actually think about what you were doing? Probably not.

Insurance open enrollment is like that. It’s something you do every year and you probably don’t think about it. In fact, you just might choose to do the same thing you did last year but that could cost you hundreds of thousands of dollars over the span of your career.

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Imagine your physician Retirement Fund is one big pie. If you look closely, that pie will primarily be made of a physician 401k or 403b and the entire financial services industry wants a piece. If you’re not careful where the filling lands, you might cut them more than their fair share. Listen to Nate and Kyle discuss how to keep more 401k money for yourself on your journey to retirement.

 

ARE YOU GETTING...

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October 18, 2023 29 mins

Investing is a strange thing: the less you pay, the more you get.

And for physician investors, keeping more of what you earn means paying less taxes on your investments.

For the past three decades Exchange Traded Funds (ETFs) have made it easy for all investors to own a balanced, diversified, low cost, tax efficient portfolio.

But what are ETFs and how can you use them?

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Imagine a big sack of donuts. Now imagine a big stack of plywood.

What do these have in common?

They are stories Ben and Nate share on today’s show.

While every physician wants to be responsible with money, most physicians come to realize that retirement planning simply sucks.

It’s laborious, time consuming and overwhelming.

So what do you do?

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Fake news. It’s everywhere and some people even believe it. Some unintentional fake news you have heard recently is that Public Service Loan Forgiveness is not real.

In today's show, Ben and Nate share stories of real live physicians who have gotten real relief through the Public service loan forgiveness program.

We break down the must-know news about student loan forgiveness for doctors and t...

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Every physician wants to lower their tax bill. But, of all the best-known tax strategies for doctors that you may have heard about, which ones are both possible and worth your time? Tax loss harvesting just might be the winning answer for a mid-career physician.

 

Listen in as Kyle and Nate discuss tax loss harvesting and if it’s right for you

 

ARE YOU GETTING ALL TH...

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College is getting more and more expensive every year. For most people, the cost of college results in a six-figure ball and chain of student loan debt.

 

Have you ever wondered how your children can show up to their college graduation ceremony free from this financial burden?

 

Listen in on some LIVE college planning with Nate and Chelsea where they discuss setting a college goal, investment ...

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Lets face it; you have WAY too much cash in the bank. Maybe you got a buy-out. Or an inheritance. Or maybe cash has been piling up in your bank account because you just haven’t had time to invest it.

 

Well, now is the time to think about all the things you can do with that extra money and maybe even start to take action.

 

Join Nate and Ben to learn how you can stop letting inflation pick you...

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Good medicine requires a good treatment plan for each patient and the tools needed to implement it. But what do you do when your most efficient tool is broken?

 

Listen in as Nate asks Kyle what to do when you have a sound treatment plan for your investments - target date investing - but the target date funds in your 401(k) are busted. 

 

ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE?

...

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Have you ever hired a babysitter? You know, someone you trust to love and care for your child while you’re away?

 

Well, hiring a financial advisor is a lot like that. If you’re looking for a new financial advisor, you’ll undoubtedly want to ask all the right questions. In this episode, Ben and Nate give you seven questions you can use to choose not just a good advisor but a great one.

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June 21, 2023 22 mins

Doctors are smart and real estate is real but is real estate the right investment for real smart doctors?

The answer is no.

Listen in as Ben and Nate discuss the four reasons why physicians – at least those who want to focus on their marriages, their children and their practices – can just say NO to the problems, perils and broken promises of real estate investing.

 

ARE YOU GETTI...

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June 7, 2023 26 mins

Is “physician happiness” an oxymoron? Sometimes it may seem that way but you may be surprised to hear that some physicians have cracked the code on happiness. On this episode, Ben Utley, CFP® and Nate Reineke, CFP® discuss the Medscape Physician Lifestyle & Happiness Report 2023 in an effort to understand why physicians reported being less happy this year.

 

ARE YOU GETTING ALL THE TAX BREA...

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If you’re a physician, you’ve probably heard of F.I.R.E. (financial independence, retire early). It sounds amazing, but do physicians *actually* retire early? Why or why wouldn’t you? On this episode, Nate Reineke, CFP® is joined by Chelsea Jones, CFP®, our in-house Retirement Planning Specialist,  to discuss the balancing act between working to save like crazy versus enjoying more life early on in your career.  

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