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.

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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

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On the Money Meets Medicine podcast, Dr. Jimmy Turner and Justin Harvey discuss how common personal finance advice can be especially costly for physicians and outline six “bad advice” items. They warn that disability insurance company choice matters because applying with the wrong carrier can trigger denials that eliminate access to guaranteed standard issue policies; they also caution against waiting until late in training. They argue that saving 10–15% or just maxing a 401(k) is usually insufficient for doctors with delayed earnings and debt, suggesting higher savings rates based on retirement goals. They note student loan consolidation advice has changed under the One Big Beautiful Build Act and may limit repayment plan eligibility. They criticize “pay off all debt before investing,” explain why renting isn’t necessarily “throwing money away,” and argue that asking if an advisor is a fiduciary is no longer reliable, favoring fee-only transparency.

Resources:

Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

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

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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

SpaceX priced at $135 a share, raised $75 billion, and hit an all-time high of $225 within days — then fell to $107. Dr. Jimmy Turner and Justin Harvey CFP break down how index funds actually decide what gets included in the index, why the S&P 500 said no to SpaceX while CRSP and the Russell 1000 said yes, and what that means for the total stock market index fund in your 401(k).

What you'll learn:

• Why an index fund doesn't pick stocks — it follows 3 rules: seasoning, profitability, and float
• How Nasdaq, Russell 1000, and CRSP cut IPO seasoning for SpaceX
• Why your money in an IPO often funds the private investors cashing out on the other side
• What Dimensional's 12-month IPO exclusion says about buying at the offering
• How to handle FOMO before Anthropic and OpenAI potentially go public

Resources mentioned:

• Looking to lower your taxes? Check out Gelt, the tax team Jimmy uses: https://moneymeetsmedicine.com/CPA
• Juno — Looking for a lower interest rate on your student loans? Use group negotiated rates from Juno here: moneymeetsmedicine.com/juno
• Every physician needs disability insurance. Get quotes from Money Meets Medicine Disability Insurance: https://moneymeetsmedicine.com/disability
• The Physician Philosopher's Guide to Personal Finance — free book for physicians — moneymeetsmedicine.com/freebook

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

28% of physicians say they don't earn enough for what their family needs. The lowest-paid specialty still makes $266,000.

Medscape's 2026 physician compensation report surveyed roughly 6,000 doctors across 29+ specialties, and the numbers tell a stranger story than "doctors are underpaid." Average pay rose 3%, barely clearing inflation, and nine specialties were flat or down. Jimmy and Justin unpack what the data says about physician pay, negotiation, and the 40% side-gig statistic.

What you'll learn:

• Why primary care averaged $298K and specialists $417K — and which specialties outpaced inflation
• What percentage of physicians negotiated their compensation, and how many just took what they were given
• Why "we don't negotiate" pay models push high performers out
• The paradox: 53% feel personally fairly paid, but 61% say the profession is underpaid
• What the 40% side-gig number reveals about autonomy and moral injury

Resources mentioned:

• Money Meets Medicine Disability — moneymeetsmedicine.com/disability
• Need a new CPA or a better Tax Strategy? Get a 10% discount when working with Gelt, the tax strategy team that Jimmy Turner uses: https://moneymeetsmedicine.com/Gelt
• Medscape Physician Compensation Report 2026

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Being able to know the difference between a good and a bad job offer as a physician in private practice involves knowing where the landmines and pitfalls are so that you can avoid them. In this episode, host Dr. Jimmy Turner interviews Michael Johnson, a physician contract attorney at Michael Johnson Legal.

Resources:

• Get 10% off working with Gelt, the tax strategy team that Jimmy Turner personally uses: https://moneymeetsmedicine.com/CPA
• Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability
• Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

What you'll learn:

• What "partnership" truly means in a business context
• The financial realities of partnership tracks, buy-in costs, and ownership structures
• Common pitfalls, including misleading partnership titles, private equity buyout risks, and real estate considerations
• Eight essential questions physicians should ask before committing to a partnership

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Trump accounts — technically the 530A — went live July 4th, and Justin Harvey opened three for his own kids just to see how they work. These accounts are child-owned, they behave like a traditional IRA, and they come with rules most physicians haven't heard yet.

Tag along with Jimmy Turner and Justin Harvey as they discuss where they actually belong in your savings hierarchy, and who should pass entirely.

Resources:

• Get 10% off working with Gelt, the tax strategy team that Jimmy Turner personally uses: https://moneymeetsmedicine.com/CPA
• Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability
• Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

What you'll learn:

• Why the 530A is closer to a traditional IRA than a 529 — and the basis-tracking problem nobody is warning parents about
• Where Trump accounts rank against 401(k)s, backdoor Roths, and 529s in a physician savings hierarchy
• Who actually gets the free $1,000, and why older kids are treated differently
• The Roth conversion play at age 18 — and the risk of handing an 18-year-old a quarter-million-dollar account
• Why a kid's Roth IRA may teach better money lessons than any government-funded account

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