In this episode of Money Meets Medicine, hosts Dr. Jimmy Turner and Justin Harvey tackle three listener questions on personal finance for physicians. They discuss whether HSA-eligible plans make sense during high healthcare-usage periods like pregnancy, charitable giving strategies including donor advised funds and tax-efficient gifting of appreciated securities, and when physicians with significant net worth should consider stopping life and disability insurance premiums. The hosts emphasize personalized decision-making based on individual circumstances, consistently recommending listeners consult qualified financial professionals before making major financial decisions.

Resources:

• Are you a 1099, locums doc, or private practice partner or business owner? You need a tax strategy team. Get 10% off working with the team I use here (Gelt): https://moneymeetsmedicine.com/CPA
• Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability
• Want to get started on your financial literacy journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance.

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On the Money Meets Medicine podcast, Dr. Jimmy Turner and Justin Harvey answer three listener questions. First, they discuss 457 plans and how to determine if you should be participating in yours, including the three questions to answer to figure it out in your situation. They alos discuss if doctors should have emergency funds and, if so, how large they should be. Finally, they chat about investing bonus money: invest it all in at once? Or let it trickle in through dollar-cost averaging (DCA)?

Resources for this episode:

• Every doctor needs own-occupation disability insurance. Get a quote from Money Meets Medicine Disability Insurance, co-founded by host Dr. Jimmy Turner.
• Are you looking for a new accountant? Check out Gelt, the tax strategy team that Jimmy Turner personally uses. Use this link to get 10% off Gelt's services the first year you work with them.
• Looking to increase your financial literacy, but not sure where to start? Get a free copy of Dr. Jimmy Turner's best-selling book, The Physician Philosopher’s Guide to Personal Finance.
• IRS guide on differences between governmental and non-governmental 457 can be found here.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Money Meets Medicine, hosts Dr. Jimmy Turner and Certified Financial Planner (CFP) Justin Harvey tackle three listener questions from the Money Meets Medicine community.
1. Should residents pay extra on their student loans if they are in the new Repayment Assistance Plan (RAP)?
2. What are the financial considerations to make working part-time make sense?
3. If you are a parent (or plan to be), should you pay for your kid's college education? If you do, how can you make that work given the new federal student loan borrowing limits?

Resources:

• Every doctor needs disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability
• Are you a 1099, locums doc, K-1 partner, or business owner? You need a tax strategy team. Get 10% off working with Gelt, the team that Jimmy Turner personally uses here (Gelt): https://moneymeetsmedicine.com/CPA
• Looking to get a lower interest rate on your student loans? Check out Juno’s unique student loan Group Negotiation process at https://moneymeetsmedicine.com/Juno
• Not sure what to do with your student loans? Get $100 off a student loan consult: https://moneymeetsmedicine.com/loans

Have questions of your own? Send them to Jimmy at Jimmy@moneymeetsmedicine.com

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.