The Grow Your Wealthy Mindset Podcast: Recent Episodes
Elisa Chiang
Grow your wealth by working on your mindset and up leveling your game. Your thoughts about money have created your current financial net worth. Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive. Tune in each week to learn more on how to grow your wealthy mindset! Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms. Please subscribe and leave a review on your favorite Podcasting platform. You can learn more about Elisa at her website or follow her on social media. Website: www.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/elizabeth-chiang-0582a432
Is there a "right" way to handle money in a marriage? In this episode, we dive into the widely debated topic of how couples manage and split their finances. From fully merged joint accounts to the popular "His, Hers, and Ours" approach, we explore real-world data from hundreds of dual-income couples and breakdown the pros and cons of each system.
But as you’ll learn, the logistics of your bank accounts matter far less than your underlying money mindsets. Tune in to discover how to navigate different spending philosophies, handle differing financial goals (like funding college vs. making luxury purchases), and find a system that keeps you on the same team.
What You’ll Learn in This Episode:
- The 3 Main Financial Systems: A breakdown of fully joint, hybrid, and completely separate financial setups.
- Real-World Data: The surprising stats on how the majority of dual-income physician couples actually manage their money.
- Behind the Comments: Real-life examples and perspectives from couples navigating income disparities and student loans.
- Navigating Different Money Philosophies: How to handle it when opposites attract (e.g., a saver marrying a free-spender).
- The Key to Financial Unity: Why alignment on your core values matters more than who pays which bill.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Just like the world of medicine has its own language, the world of finance and investing also has its own language. This is why when you first starting developing your financial literacy, everything seems complicated. By learning the meaning of different terms, everything starts to make more sense. In this episode, I go over various financial terms you’ll encounter when you look at different investments.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Talking about death and divorce is never romantic, but staying silent means letting the government make your most personal decisions for you. In this episode, we break down a surprising truth: Everyone already has a default prenup and a default will. If you don’t write your own, your state’s laws will step in to dictate how your assets are handled during a divorce or after your death.
We explore why these topics make us so uncomfortable, how to overcome the anxiety, and why prenups are actually the ultimate exercise in financial intimacy. Plus, we look at why—for physicians specifically—legal planning is vital "preventative medicine" to protect against high student debt, future earning potential, and professional liability. I also share a bit of full transparency about why my husband and I didn't get a prenup when we were young.
What We Cover:
- The Default Reality: Why silence means accepting the state's rules for your estate and marriage.
- Overcoming Taboos: Navigating the emotional and cultural anxieties around money.
- Preventative Medicine for Docs: Why high debt, high future earnings, and liability change the game for physicians.
- Host Transparency: My personal story of marrying young with a negative net worth.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Replay Episode 31: Growing a Wealthy Mindset
Financial literacy is an important part of building wealth—but knowledge alone isn't enough. A truly wealthy mindset starts with believing that you can learn, grow, and develop new skills throughout your life.
In this replay episode, we explore the powerful concept of the growth mindset and how the way you think about your abilities can impact your financial success, career growth, and overall fulfillment.
In This Episode, You'll Learn:
- The difference between a growth mindset and a fixed mindset
- How your beliefs about intelligence, talent, and ability shape your actions
- Why mistakes and setbacks can become powerful learning opportunities
- How embracing challenges can accelerate personal and financial growth
- The role of neuroplasticity and how your brain continues to learn and adapt throughout adulthood
- Practical strategies to shift from self-limiting thoughts to growth-oriented thinking
- How process-focused goals can be more effective than outcome-focused goals
- Why surrounding yourself with growth-minded people matters
Books Mentioned
Mindset: The New Psychology of Success by Carol Dweck
Atomic Habits by James Clear
Eat That Frog! by Brian Tracy
Who Not How by Dan Sullivan and Dr. Benjamin Hardy
Think and Grow Rich by Napoleon Hill
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Welcome back to part two of our deep dive into Social Security! In episode 209, we covered the foundational basics of how the system works for individuals. Today, we are shifting the focus to couples.
Coordinating your Social Security strategy as a married couple is one of the most powerful ways to secure your joint retirement, yet it is frequently misunderstood. In this episode, we break down exactly how spousal and survivor benefits work, why the "higher earner" holds the key to long-term security, and how to map out a synchronized timeline to maximize your lifetime collective payout.
Resources:
Social Security Administration Official Site: SSA.gov
Missed Part 1? Listen to Episode 209: When to Start Taking Social Security Benefits
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
In this replay episode, we're revisiting one of the most common investing questions: Should you invest in exchange-traded funds (ETFs) or mutual funds?
Both ETFs and mutual funds can be excellent investment vehicles, especially when you're investing in low-cost index funds. In this episode, I break down the key similarities and differences between the two, including:
- How ETFs and mutual funds provide diversification
- Differences in trading and pricing
- Minimum investment requirements
- Automatic investing and dollar-cost averaging
- Tax efficiency considerations
- Expense ratios and other costs
- Dividend reinvestment
- Transparency and fund holdings
Important Update Since the Original Recording
In the original episode, I discussed how ETFs generally had to be purchased in whole shares while mutual funds could be purchased in fractional shares. Since that recording, many major brokerages now allow investors to purchase fractional shares of ETFs, making it possible to invest a specific dollar amount without buying a full share.
As a result, one of the historical advantages of mutual funds has become less significant for many investors. However, availability of fractional-share ETF investing varies by brokerage platform, so be sure to check your brokerage's specific features.
Key Takeaway
For long-term investors, the choice between ETFs and mutual funds often comes down to convenience, costs, tax considerations, and personal preference rather than investment performance. Both can be effective tools for building wealth when used as part of a disciplined, long-term investing strategy.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
When do you shift from simply "doing fine" to truly feeling like you are reaping the financial rewards of your career?
Inspired by a post from a physician with $370,000 household income, yet still feeling like they are constantly chasing, this episode dives deep into the psychology of wealth. We explore why high incomes don't automatically translate to financial security, what different milestones (like paying off debt or hitting $1M) mean to different people, and how cognitive behavioral concepts shape our relationship with money.
Tune in to discover why "making it" is an arbitrary goalpost, how to build a wealthy mindset, and why the secret to financial peace might just be learning to want what you already have.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Over the last 4 years, there have been several guests on the podcast. The guest who had the most downloads is Dr. Karen Leitner.
Listen in on a conversation that Karen Leitner and I had on what mindset really means and how it influences our lives. It’s a candid conversation between two coaches with a focus on money mindset and topics like negotiation, the gender wage gap, and reframing failure.
Dr. Karen Leitner is a primary care physician and an experienced life coach. She helps women physicians feel better and happier in their lives by empowering them to overcome work-life overwhelm, imposter syndrome, parenting challenges, and all the other joykills so common to women physicians (and so rarely talked about…until now).
You can find her on:
www.karenleitnermd.com
https://www.facebook.com/groups/howtofeelbetterforwomenphysicians
https://www.instagram.com/karenleitnermd/
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Following last week’s look back at where it all began, I’m fast-forwarding through the last four years to share what has changed, what has stayed the same, and what it really looks like to pursue an "ideal life." From the highs of checking off bucket-list travels to the unexpected pivots of the medical job market, this episode is an honest reflection on career resilience, lifestyle design, and human connection.
Resources Mentioned: Book: How Not to Die by Dr. Michael Greger
🎙️ I Need Your Feedback!
As I evaluate the future cadence of the show and step into a new creative season, I want to hear from you. Please reach out and let me know: What do you love about this podcast, and what do you want to hear more of moving forward?
- Connect with me: growyourwealthymindset@gmail.com
- Support the show: Please leave a 5-star rating and review on Apple Podcasts or Spotify!
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
The Grow Your Wealthy Mindset Podcast published an original weekly episode for the last four years. For the first episode of the 5th year of The Grow Your Wealthy Mindset Podcast, we return back to the very first episode, where Elisa Chiang talks about her journey that lead her to creating this podcast and why someone would want to take the time to listen to The Grow Your Weathy Mindset Podcast.
Enjoy this blast from the past.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
This episode dive into the complex world of Social Security through the lens of a high-earning professional. We move past the "standard" advice of waiting until age 70 to explore the Real Math, including the impact of current 2.7% TIPS real yields and the looming 2032 Trust Fund cliff. If you are in deciding on a claim strategy, this episode provides a framework for political risk management and tax-efficient retirement.
SSA.gov: Log onto or create your "My Social Security" account to view your earnings record and possible benefit.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
In the medical world, perfectionism saves lives. In the financial world, it can cost you a fortune. In this episode, we dive into the "A+ Student Syndrome" and why the traits that make you a world-class physician—attention to detail, risk aversion, and a desire for complexity—are the exact traits that lead to "Analysis Paralysis" in your portfolio.
This episode breaks down why searching for the "perfect" entry point or the "perfect" fund is often just a high-level form of procrastination. Learn why "B-level" work and boring investments actually lead to A-plus results over time.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
In this episode, we pull back the curtain on the U.S. tax system to explore how it specifically impacts high-earning professionals. Inspired by a recent Freakonomics episode and the research of Jessica Riedl (Brookings Institute), we dive into the data-driven reality of tax progressivity, the "Buffett Myth," and why being in the Top 5% of earners changes the way you should approach your retirement strategy. Whether you're a W-2 employee or looking to transition into asset ownership, this episode provides the context you need to grow a wealthy mindset.
Resources Mentioned in This Episode
Article: Correcting the Top 10 Tax Myths by Jessica Riedl
https://manhattan.institute/article/correcting-the-top-10-tax-myths
Podcast: Ten Myths About the US Tax System – Freakonomics Radio
https://www.google.com/search?q=https://freakonomics.com/podcast/10-myths-about-the-us-tax-system/
Data: How Much Income Puts You in the Top 1%, 5%, and 10%? – Investopedia
https://www.investopedia.com/personal-finance/how-much-income-puts-you-top-1-5-10/
Report: 2025 Physician Compensation Report – Medscape
https://www.google.com/search?q=https://www.medscape.com/slideshow/2025-compensation-overview-6017126
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
This week's episode reviews the findings published in Medscape's Physician Compensation Report for 2026.
Key Points
- The Numbers: The average physician salary rose to $356K (+3%), with Specialists ($417K) continuing to outearn PCPs ($298K).
- Top Earners: Orthopedics leads the field at $611K, followed by Cardiology ($575K) and Radiology ($571K); Pediatrics remains at the bottom ($266K).
- The Negotiation Freeze: 27% of physicians reported negotiation wasn't an option, as some consultants now advise employers to adopt a "no-negotiation" philosophy to maintain workplace equity.
- Demographic Gaps: Significant disparities persist, including a 31% gender pay gap and slower compensation growth for Black (2.9%) and Hispanic (3.5%) physicians compared to their White peers (6.1%).
- Productivity & Hours: The average work week dipped to 49 hours, yet 35% of doctors now see their base salary—not just bonuses—tied directly to productivity metrics like RVUs.
https://www.medscape.com/p11/return-normalization-medscape-physician-compensation-report-2026a10009um
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Just as an annual physical catches "silent killers" like hypertension, a financial deep clean identifies "Efficiency Leaks" before they cost you hundreds of thousands in lost growth. This episode provides a 5-point audit to ensure your money and mindset are perfectly aligned while you focus on your practice.
The 5-Point Financial Audit:
- 1. Financial Goals Review: Move beyond vague ideas. Are your goals SMART (Specific, Measurable, Achievable, Relevant, and Time-bound)? Don’t forget to celebrate your wins—it builds the momentum needed to keep going.
- 2. Lifestyle Creep Calibration: Calculate your Burn Rate. Physicians are prone to "Incremental Creep" where raises disappear into convenience spending. Ensure your outflows reflect your actual values.
- 3. The "Defense" Review:
- Umbrella Policy: Aim for coverage equal to your net worth (up to $5M).
- Disability Buy-Up: Check your "increase riders" to protect your growing income.
- Estate Assets: Ensure new properties are inside your trust and beneficiaries are updated.
- 4. The Subscription Purge: Audit your recurring "SaaS" charges. Call your providers and ask, "Is this the best rate you can offer?" A five-minute call can save $500 a year.
- 5. Portfolio Rebalancing: Don't let a bull market skew your risk profile. Use new cash to buy underweighted assets or rebalance within tax-advantaged accounts (401k/IRA) to "sell high" and stay disciplined.
The 72-Hour Challenge
Don’t try to do all five at once. Pick the easiest task and complete it within the next 3 days.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
If you’ve ever asked yourself, “Where should I open a brokerage account?”you’re not alone. This is a common question I see in personal finance groups, and it can feel overwhelming when you’re trying to make the “right” choice.
In this episode, I break down how to choose a brokerage account for investing outside of retirement accounts, or where to open an IRA, without overcomplicating the decision. We’ll walk through the key differences between Vanguard, Fidelity, and Charles Schwab, including fees, investment options, user experience, and account types. I also explain why I generally don’t recommend higher-fee platforms like Merrill Lynch for DIY investors, and why simpler apps like Robinhood may not be ideal if you’re trying to build a long-term, all-in-one investing strategy.
By the end of this episode, you’ll have the clarity and confidence to pick a platform and get started—without getting stuck in analysis paralysis.
Key Takeaway:
Don’t overthink it! Choose a low-cost platform and get started because taking action is how you will build wealth.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Starting in 2026, new rules will change how charitable tax deductions work. In this episode, we break down key provisions from the One Big Beautiful Bill Act and what they mean for your charitable giving strategy.
You’ll learn how the new $1,000 deduction for standard deduction filers ($2,000 for married couples) works, why itemized charitable deductions now have a 0.5% AGI floor, and how a new cap on itemized deductions may affect high-income taxpayers.
We also discuss strategies like bunching donations, donating appreciated assets, and using Qualified Charitable Distributions (QCDs) to give in a more tax-efficient way.
Even though the tax rules are changing, the goal of charitable giving stays the same: supporting causes that matter to you while being intentional about your finances.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
This podcast episode discusses a blog article from the White Coat Investor website written by Dr. Jim Dali, titled "Will Your Retirement Go As Planned.” The article highlighted unexpected challenges faced by retirees, such as early retirement due to job loss, health issues, and the death of a spouse. Elisa shared insights from the article, emphasizing the importance of considering life expectancy and health risks in retirement planning.
The article referenced in the podcast can be found at:
https://www.whitecoatinvestor.com/will-your-retirement-go-as-planned/
The Joint Life Expectancy and Mortality Calculator can be found at:
https://www.kitces.com/joint-life-expectancy-and-mortality-calculator/
To generate a graph to show the probably of death and the value of your portfolio, check out:
https://engaging-data.com/will-money-last-retire-early/
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Can you take money out of a retirement account early without paying penalties? Many people assume retirement accounts are locked until age 59½, which leads them to avoid maxing out contributions—especially if they’re planning early retirement.
In this episode, we explain when early withdrawals from retirement accounts don’t trigger the 10% penalty, including common IRS exceptions and strategies like Substantially Equal Periodic Payments (72(t)). You’ll learn the key differences between IRAs and 401(k)s, which withdrawals are penalty-free, and how retirement accounts can still play a central role in an early retirement strategy when you understand the rules.
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions
https://www.irs.gov/retirement-plans/substantially-equal-periodic-payments
Important Disclaimer:
This episode is for educational purposes only and does not constitute tax, legal, or investment advice. Rules around retirement distributions are complex and subject to change. Always consult a qualified tax or financial professional before implementing any withdrawal strategy.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
In this milestone 200th episode of The Grow Your Wealthy Mindset Podcast, we explore the difference between being rich and being wealthy and why the distinction matters more than most people realize.
While being rich is often visible through income and lifestyle, true wealth is usually invisible. Drawing from real-life examples and insights from The Psychology of Money by Morgan Housel, this episode breaks down how spending can create the appearance of success while quietly increasing financial stress.
For physicians especially, real wealth isn’t about looking successful—it’s about having options. The ability to walk away from a bad job situation, cut back at work, and make decisions from a place of flexibility rather than pressure.
In This Episode:
- The difference between being rich and being wealthy
- Why wealth is often invisible
- The tradeoff between lifestyle and long-term freedom
- Why many physicians chase being rich while they really want to be wealthy
- A simple personal audit to assess whether your money buys freedom or stress
The goal isn’t to look successful. It’s to build a life where your money supports your values, your time, and your well-being.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
High-income professionals often find themselves locked out of direct Roth IRA contributions. The "Backdoor Roth" is the gold-standard workaround, but it is a strategy where small administrative errors can lead to big tax bills. In this episode, we break down the mechanics of the Pro-Rata Rule, why your Form 8606 is the most important document in your tax return, and the specific steps physicians must take to keep their backdoor strategy "clean."
Key Takeaways
- Pre-Tax vs. Post-Tax: Understanding why the source of your IRA funds determines your tax liability.
- The Pro-Rata Rule: Why the IRS treats all your IRAs as one "pot of soup" and how existing SEP or SIMPLE IRA balances can trigger unexpected taxes.
- The December 31 Rule: Why your total IRA balance at the end of the year is the only number the IRS cares about for conversions.
- Solo 401(k) vs. SEP IRA: Why 1099 contractors should favor the Solo 401(k) to keep the backdoor strategy viable.
- Form 8606 Essentials: The common filing errors that lead to double taxation and why each spouse needs their own form.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
If you have children, you may have seen a prompt in TurboTax or other tax software about opening a Trump Account. But what exactly is a Trump Account, and is it right for your family?
In this episode, we break down everything you need to know:
- Who is eligible and how to open a Trump Account
- Contribution limits, employer contributions, and federal seed money
- How the accounts are invested and what restrictions apply
- Impact on financial aid and long-term planning
- Real-world examples and growth projections, including potential Roth IRA rollovers
We also discuss the pros and cons for families, including physicians, and why these accounts can be a powerful tool for passing wealth to the next generation, if used strategically.
By the end of this episode, you’ll understand whether a Trump Account makes sense for your child and your family finances.
Resources & Links:
- Official Trump Accounts info: https://trumpaccounts.gov
- IRS Form 4547 instructions: https://www.irs.gov/instructions/i4547
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
What if money isn’t just money—but stored life energy?
In this episode, I reflect on the core premise of Your Money or Your Life by Joseph R. Dominguez and Vicki Robin and how it’s showing up in my own life as a physician. From reviewing Medicare reimbursement rates to comparing insurance-based care with cash-pay work, I share why the trade between effort, responsibility, and compensation is starting to feel misaligned.
We explore what financial independence really means, how much money is truly needed for a fulfilling life, and why many of the most meaningful activities cost very little. I also talk about the fear of stepping away from medicine, market risk, and the difference between an ideal life and a “good enough” one.
This episode isn’t about quitting medicine—it’s an invitation to pause and ask:
Is the way you’re trading your life energy for money still worth it?
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Long-term care is one of the biggest unknowns in retirement planning. While many physicians can estimate their retirement spending, it’s much harder to predict if, and for how long, long-term care will be needed.
In this episode, Elisa breaks down the real costs of long-term care, how long most people actually need care, and whether long-term care insurance makes sense for physicians.
Learn about:
- What counts as long-term care and typical costs
- How long people usually need long-term care
- The difference between self-insuring and buying long-term care insurance
- How long-term care insurance works—and its major downsides
- Who long-term care insurance may make sense for
This episode offers a practical, non–fear-based framework to help you decide how long-term care fits into your overall retirement plan.
To look at current cost of long-term care at different locations in the United States, check out https://www.carescout.com/cost-of-care
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
How much do physicians actually need to retire comfortably? If you’ve heard numbers like $4 million—or more—and felt overwhelmed, you’re not alone.
In this episode, we break down where these retirement numbers come from, why physicians tend to think they need significantly more than the average American, and how to calculate a retirement target that actually fits your life.
Using data from Medscape, Northwestern Mutual, and the U.S. Census Bureau, we explore income differences, spending expectations, taxes, and the realities of retiring as a physician, especially if you’re considering early retirement.
What You’ll Learn in This Episode:
- What physicians report needing for retirement and how that compares to the average American
- Why higher income doesn’t automatically mean you need more to retire
- How delayed earnings and fewer high-income years affect physician retirement planning
- Why retirement planning is really about spending, not just net worth
- How taxes change your true retirement number
- The role of lifestyle choices and flexibility in determining how much is “enough”
- What to consider if you want to retire before age 60, including healthcare costs
- A better question to ask instead of “What’s my retirement number?”
Key Takeaway:
There is no single “right” retirement number for physicians. Your retirement target depends on your spending, lifestyle goals, taxes, and timeline—not what other doctors are doing.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Why do physicians earning multiple six figures still feel financial pressure?
In this episode, we talk about why a high income doesn’t automatically lead to financial ease—and why many doctors feel stressed about money despite “doing everything right.” This isn’t about budgeting harder or cutting out every joy. It’s about understanding the real reasons behind that stuck, anxious feeling.
In this episode, we cover:
- What it really means for high-income doctors to “feel broke”
- Lifestyle creep vs lifestyle expansion, and why doctors are especially affected
- How delayed gratification during training shapes spending habits
- Why taxes and payroll deductions make high salaries feel smaller
- The difference between growing net worth and tight cash flow
- What actually helps: margin, flexibility, and values-based spending
If this episode resonated, you’re not bad with money—you’re navigating a complex financial season with real responsibilities.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Most physicians assume that every dollar in their employer-sponsored retirement account belongs to them. That assumption can be a very expensive mistake.
In this episode of The Grow Your Wealthy Mindset Podcast, we break down vesting—what it means, how it’s governed by federal law, and why it matters when physicians change jobs or negotiate contracts. I also share a personal early-career mistake that cost me my employer contributions, and how understanding vesting later helped me make a strategic career decision worth tens of thousands of dollars.
You’ll learn the difference between cliff vesting and graded vesting, how academic, hospital, and private practice roles may differ, and the one action step every physician should take before leaving a job.
Key takeaway: Before you assume that money is yours, make sure it actually is.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
If you’re a physician with 1099 income, locums work, or a small private practice, choosing between a Solo 401(k) and a SEP IRA can have a huge impact on how much you’re able to save for retirement.
In this episode, we compare Solo 401(k)s and SEP IRAs in plain language and walk through real physician examples to show how contribution limits change based on income type, age, and whether a spouse works in the business.
In this episode, you’ll learn:
- The key differences between a Solo 401(k) and a SEP IRA
- Why SEP IRAs are simple—but often limiting for physicians
- How Solo 401(k)s allow higher contributions, especially after age 50
- When a SEP IRA might make sense
- How spouse employees and side income affect retirement planning
Physician scenarios covered:
- A high-income independent contractor physician
- A W-2 physician with locums side income
- A physician-owned practice with a spouse as the only employee
We compare contribution limits at age 45 and age 55 and explain why the Solo 401(k) often allows physicians to save tens of thousands more per year than a SEP IRA.
Key takeaway:
For many physicians, the Solo 401(k) offers more flexibility, higher contribution limits, and better long-term tax planning than a SEP IRA—but the right choice depends on how your income is structured.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
In this episode of The Grow Your Wealthy Mindset, we take a practical look at the differences between working as a 1099 independent contractor and a W-2 employed physician — and how each option affects your income, taxes, autonomy, and long-term wealth.
Whether you're thinking about locums, considering a new job offer, or re-evaluating your career path, this episode gives you a clear framework to make a confident, informed decision.
What You'll Learn
• Why more physicians are now employed
We explore the shift from physician-owned practices to hospital systems and private equity groups and how this change has impacted compensation, autonomy, and burnout.
• What it really means to be a 1099 physician
We break down the core advantages (flexibility, tax deductions, higher earning potential) and the challenges (buying your own health insurance, managing variable income, handling self-employment taxes).
• The reality of locums benefits
Most locums agencies do not provide traditional health insurance, but a few offer access to group plans or partner benefits.
• The pros and cons of W-2 employment
Predictable pay, employer-sponsored benefits, and built-in support vs. less schedule control and more administrative pressure.
• How to choose the right model for your life
We cover the mindset, financial considerations, and lifestyle factors that help you decide between 1099 and W-2 work, especially if you’re striving for more autonomy or aiming to grow long-term wealth.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Are you a physician thinking about buying a home but tired of the usual “30% of your income” rule? In this episode, we explore how to figure out how much house you can really afford as a doctor, without relying on arbitrary percentages or just what a lender says you can borrow.
We talk about the smarter way to approach physician home buying, including:
· How to calculate the total cost of homeownership, factoring in property taxes, homeowners insurance, and maintenance and not just your mortgage payment.
· Why using a reverse budget helps you align your housing budget with your savings, investments, and long-term financial goals.
· How physician mortgage programs can allow no down payment and no PMI, and what that means for your overall financial plan.
With a step-by-step example, we break down the numbers in a way that’s easy to understand, showing how to make a financially smart home purchase that supports your lifestyle instead of constraining it.
Whether you’re buying your first home as a doctor or upgrading to your next home, this episode gives practical strategies to make a confident, informed decision.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Trump has proposed bringing back ultra-long mortgages — including a 50-year option — as a way to make housing more affordable. But would stretching a loan over half a century really help?
In this episode, we break down the real math behind the idea. You’ll learn why a longer mortgage term might look affordable month to month, but could cost you hundreds of thousands of dollars more over time.
We’ll cover:
· Why home prices have stayed high even after the pandemic
· How interest rates and inflation affect both buyers and sellers
· The difference between a 15-, 30-, and potential 50-year mortgage
· What history teaches us from the failed 40-year mortgage experiment
· Why focusing only on monthly payments can be a dangerous trap
If you’ve been wondering whether a 50-year mortgage could help you buy a home — or just keep you in debt longer — this episode will help you see the full picture.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
As the year ends, take a moment to pause and reflect. Instead of chasing resolutions, what if you designed a year that feels truly wealthy — rich in meaning, freedom, and joy? In this episode, learn how to align your money, time, and energy with what matters most, set financial intentions instead of goals, and take small, intentional steps toward your ideal life.
In this episode, you’ll learn:
· How to reflect on what worked and what didn’t this past year
· Why acknowledging your wins builds confidence and clarity
· How to define what a truly wealthy year means to you
· The difference between a financial goal and a financial intention
· How to use money as a tool to create more freedom and purpose
· Simple, sustainable steps to start living your vision now
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
This Christmas Eve episode invites you to slow down and reflect on one of the biggest myths we tell ourselves — the myth of more time.
As physicians, we often believe that at some point in the future, life will finally calm down. We’ll have better systems, more support, and more space to breathe. But the truth is, time doesn’t just appear — we have to choose to make it.
In this episode, we’ll explore:
- Why physicians fall into the trap of believing “things will slow down later”
- How every “yes” to one more shift or task is also a trade of your life energy
- The difference between financial freedom and time freedom
- How money can be used as a tool to buy back time and reduce stress
- What it really means to have enough — not just financially, but emotionally and spiritually
This episode is a gentle reminder that financial freedom isn’t just about reaching a number — it’s about having the ability to live life on your own terms. And that the true wealth we’re all seeking might not be in our bank accounts, but in the moments we’re fully present.
As you celebrate the holidays, take a moment to ask yourself:
What are you postponing for “later”?
And what would it look like to start living that “someday” life — today?
Listen in to rediscover why time, not money, is your most precious resource.
Resources Mentioned:
Your Money or Your Life by Joe Dominguez and Vicki Robin
The Simple Path to Wealth by JL Collins
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
This is the last episode in the How of Happiness Series that follows the 12 exercises outlined in The How of Happiness by Dr. Sonja Lyubomirsky
This episodes explores how meditation and physical activity can boost happiness and well-being. You’ll learn how meditation trains the mind for calm and awareness, how exercise can be as effective as medication for improving mood, and why both practices strengthen emotional resilience. Discover simple, practical ways to integrate mindfulness and movement into your daily routine to feel more centered, focused, and fulfilled.
Resources Mentioned:
The How of Happiness by Sonja Lyubomirsky
Meditation apps: Headspace, Calm, Insight Timer, Ten Percent Happier
Meditation centers: InsightLA, Spirit Rock, The Mindfulness Center
Studies specifically mentioned:
Kjaer TW, Bertelsen C, Piccini P, Brooks D, Alving J, Lou HC. Increased dopamine tone during meditation-induced change of consciousness. Brain Res Cogn Brain Res. 2002 Apr;13(2):255-9. doi: 10.1016/s0926-6410(01)00106-9. PMID: 11958969.
Blumenthal, J.A., Babyak, M.A., Moore, K.A., Craighead, W.E., Herman, S., Khatri, P., … Krishnan, K.R.R. (1999). Effects of Exercise Training on Older Patients With Major Depression: A Randomized Controlled Trial. Archives of Internal Medicine, 159(19), 2349–2356.
https://jamanetwork.com/journals/jamainternalmedicine/fullarticle/485159
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
This episode explores different money types—the patterns of beliefs and behaviors that shape how you earn, save, spend, and think about money. Understanding your personal tendencies can help you build a healthier and more balanced financial life.
This episode walks through several common money types—the Compulsive Saver, Compulsive Spender, Worrier, Gambler, Dreamer, Avoider, and Optimizer—and shares how each one shows up in everyday decisions. You’ll learn how these tendencies influence your emotions and relationships with money, and how to find balance between saving for the future and enjoying life now.
In this episode, you’ll learn:
· How your money personality shapes your financial habits and emotional reactions
· The strengths and pitfalls of each money type—from Saver to Optimizer
· Why awareness is the key to changing unhelpful patterns
· How to work through money conflicts with your partner
· Practical ways to create balance and align your financial choices with your values
No money type is “good” or “bad.” Each has strengths and weaknesses. By recognizing your tendencies, you can make more intentional decisions that move you toward financial confidence and fulfillment.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
What should you do when you suddenly come into extra money—like a bonus, inheritance, or settlement? Before you rush to spend it, take a pause. In this episode, we talk about how to make the most of an unexpected windfall so it supports your long-term financial goals instead of disappearing quickly.
You’ll learn:
- Why the first step after receiving a windfall is to do nothing—and where to safely park the money
- Guidelines to help you enjoy the money while also advancing your financial goals
- How to decide between paying down debt or investing
- When it makes sense to fund your emergency savings, retirement accounts, or HSA
- Why building wealth means owning assets, not just being debt-free
Whether your windfall is a few thousand dollars or tens of thousands, this episode will help you make intentional choices that build financial freedom and peace of mind.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
Thanksgiving isn’t just about turkey and pumpkin pie — it’s also full of lessons that can help you build a healthier relationship with money.
This episode of The Grow Your Wealthy Mindset Podcast, explores how the traditions and spirit of Thanksgiving reflect key principles of financial wellness. From planning ahead and practicing generosity, to cultivating gratitude and finding balance, you’ll discover how to bring more intention and joy into your financial life.
In This Episode, You’ll Learn:
- How planning ahead for Thanksgiving dinner mirrors effective financial goal-setting.
- Why sharing and generosity — both at the table and with money — create deep emotional rewards.
- What Thanksgiving dinner can teach us about setting healthy boundaries around spending.
- How to incorporate financial gratitude into your money mindset.
- The importance of balance — between saving for the future and enjoying the present.
Happy Thanksgiving!
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
As the year comes to a close, it’s time to make sure your finances are in order before December 31st. In this episode, we go over a practical year-end checklist designed specifically for physicians to help you save money, reduce taxes, and start the new year on solid financial footing.
We’ll cover:
- How to maximize retirement contributions and employer matches
- Smart ways to use your CME funds and professional allowances before they expire
- Tax strategies to consider before year-end, including charitable giving and tax-loss harvesting
- What to check with your HSA, FSA, and dependent care accounts
- Reviewing your investments, insurance coverage, and financial goals for the new year
This episode will help you finish the year strong—organized, confident, and ready to make the most of your money in the year ahead.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
This is the 11th episode that comes from the book The How of Happiness by Dr. Sonja Lyubomirsky. This week, we look at how faith and spirituality can influence happiness, health, and resilience.
Whether you identify with a particular faith, consider yourself spiritual but not religious, or approach life from a secular perspective, this episode invites reflection on how connecting with something larger than yourself can enhance happiness and resilience.
Tune in to learn:
- Why research suggests religious people tend to be happier and healthier
- How community and connection play a key role in well-being
- Ways to incorporate spirituality or mindfulness into daily life
- How seeking meaning and purpose contributes to long-term happiness
Even if religion isn’t part of your life, this episode offers insight into how meaning, connection, and purpose—universal human experiences—can help all of us grow our wealthy mindset.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value
Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work.
In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowing When to Walk Away, you’ll learn how to make more rational choices—whether it’s deciding to attend a rainy concert, stick with a struggling investment, or stay in an unfulfilling job.
You’ll learn:
- What the sunk cost fallacy is—and how it sneaks into your investing and daily choices
- Why we often “throw good money after bad” and how to stop doing it
- How opportunity costs help you see what you could be gaining elsewhere
- How to use expected value thinking to make smarter, more objective decisions
- Real-life examples from investing, research projects, and career choices
Understanding these concepts can help you step back, evaluate your options more clearly, and walk away from what’s no longer serving you—financially or personally.
Mentioned in this episode:
- Quit: The Power of Knowing When to Walk Away by Annie Duke
- Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts by Annie Duke
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
This week, we’re diving deeper into spending—what truly counts as a need versus a want, and how to make sure your spending reflects your values and supports your financial goals.
Even high-income earners can struggle to save when lifestyle inflation creeps in. In this episode, we’ll explore how lifestyle inflation happens, how to recognize it, and how to shift toward mindful spending that brings lasting fulfillment.
You’ll learn:
· How to tell the difference between needs and wants
· Why lifestyle inflation sneaks up on so many physicians
· How hedonic adaptation affects your happiness and spending
· How to spend intentionally on what truly matters to you
Your money should support the life you want—today and in the future. Tune in to learn how to make spending choices that align with your values and bring more meaning, freedom, and joy to your financial journey.
References:
https://www.census.gov/library/publications/2024/demo/p60-282.html
https://www.nerdwallet.com/article/finance/data-2023-budgeting-report
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Have you ever wondered how much you should be spending on housing, groceries, cars, or fun? This episode breaks down how to create a realistic and values-based spending plan that fits your lifestyle and financial goals.
Whether you’re creating your first spending plan or re-evaluating where your money goes each month, this episode will help you understand how to balance your spending between needs, wants, and savings—and how to adjust that framework to fit your own circumstances.
You’ll learn practical tips for evaluating your current spending, how taxes and deductions affect your take-home pay, and what percentage of your income you might want to allocate to housing, transportation, and other categories.
🧭 In This Episode, You’ll Learn:
- How to analyze your past spending to build a realistic budget
- The difference between needs, wants, and savings
- How to apply (and adapt) the 50/30/20 rule to your own finances
- Why your take-home income—not your gross income—is the key to building a sustainable plan
- How to think about big expenses like housing, cars, and insurance
- Why every spending plan should reflect your personal values and long-term goals
💡 Key Takeaways:
- Your ideal spending plan depends on your goals, lifestyle, and location.
- Start by tracking your current spending before deciding what to change.
- Keeping your needs at 50% or less of your take-home pay gives you flexibility.
- Saving and investing at least 20% of your income is key to long-term financial freedom.
- Spending on wants—guilt-free—is part of a healthy financial mindset.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
As physicians, we’re no strangers to long-term goals. Many of us spent years—if not decades—pursuing the dream of becoming a doctor. That kind of deep, meaningful striving can bring great fulfillment—but what happens when we achieve that goal and still feel like something’s missing?
In this episode, we explore how goals influence our happiness, why the type of goals we pursue matters, and how to realign our ambitions to create more joy, purpose, and emotional well-being. Whether you're feeling stuck, burned out, or just wondering what comes next, this conversation will help you reconnect with what truly matters to you—and inspire you to pursue it.
You’ll learn:
- Why meaningful goals are essential for lasting happiness
- The difference between intrinsic and extrinsic goals
- How approach vs. avoidance goals affect motivation
- What to do when your goals are in conflict
- How to evolve your goals as your life and priorities change
- Ways to reframe financial goals to make them more fulfilling
- A practical exercise to evaluate and refine your current goals
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Are you age 50 or older and contributing extra to your 401(k), 403(b), or 457(b)? Big changes are coming to catch-up contributions that could affect your retirement planning—especially if you’re a high-income earner.
In this episode of The Grow Your Wealthy Mindset, I break down the IRS’s final regulations on catch-up contributions under the SECURE 2.0 Act and what they mean for you starting in 2026.
We’ll cover:
- Who is considered a “high-income earner” and how that definition is determined
- Why all catch-up contributions will soon need to be Roth contributions (and what that means for your taxes)
- Projected contribution limits for 2026, including the special higher limits for ages 60–63
- How multiple employers, W-2 wages, and self-employment income affect eligibility
- Practical strategies for adjusting your payroll contributions ahead of time
These rules are complex—and a little confusing—so I’ll walk you through the details step by step to help you plan with confidence.
🔑 Key Takeaway: Starting in 2026 or 2027, if you earn more than $145,000, you’ll no longer be able to make pre-tax catch-up contributions. Understanding the new limits and planning now will help you avoid surprises later.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
As physicians, most of us start out following a traditional path: find a job posting, talk to recruiters, and take whatever positions are available in the places we want to live. But what if we thought differently about our careers? What if we created work arrangements that actually fit our lives, values, and goals?
In this episode of The Grow Your Wealthy Mindset, I share my own story of exploring non-traditional work arrangements — from going part-time, to traveling for work, to negotiating directly with practices rather than relying solely on locum agencies. I’ll take you behind the scenes of what it’s like to create a flexible career, the trade-offs involved, and the lessons I’ve learned along the way.
You’ll hear:
· Why networking and reaching out can open doors to opportunities that don’t show up on job boards.
· The differences between working through a locums agency and contracting directly with a practice.
· What it’s really like to travel for work, and the perks and challenges that come with it.
· Why every physician should have an emergency fund, even in high-demand specialties.
· How multiple streams of income can give you security when your job situation changes unexpectedly.
Whether or not traveling for work appeals to you, this episode will help you expand your perspective on what’s possible in medicine and encourage you to think creatively about designing your own work life.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In this episode of The Grow Your Wealthy Mindset, we dive into donor-advised funds (DAFs)—a powerful but often overlooked tool for charitable giving.
You’ll learn:
- What a donor-advised fund is and how it works
- Why donating appreciated assets (like stock) may be smarter than giving cash
- The benefits and downsides of using a DAF
- How Fidelity, Schwab, and Vanguard’s donor-advised funds compare
- When a DAF might make sense in your own financial or estate planning
Whether you’re already a generous giver or want to maximize the impact of your future donations, this episode will help you understand whether a donor-advised fund belongs in your financial toolkit.
Resources Mentioned:
Fidelity Charitable: https://www.fidelitycharitable.org
DAFgiving360™ (Schwab): https://www.schwabcharitable.org
Vanguard Charitable: https://www.vanguardcharitable.org
Daffy https://daffy.org
Charityvest https://www.charityvest.org/
https://inequality.org/article/top-public-charities-dafs/
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
When it comes to interest rates, not all percentages are created equal. In this episode, we break down the difference between APR (Annual Percentage Rate) and APY (Annual Percentage Yield)—two terms that may sound similar but can drastically affect how much you pay (or earn) over time.
We’ll explore:
- Why lenders advertise APR while banks flaunt APY
- How compounding frequency changes your bottom line
- Real examples from high-yield savings accounts and credit cards
- How daily vs monthly compounding adds up over time
- What’s actually included in APR (hint: it’s more than just the interest)
- Why understanding these terms is key to smarter borrowing and investing
Whether you're saving, borrowing, or just trying to get the most from your money, knowing the true cost or benefit of interest can help you make better financial decisions.
Tune in to learn how a few percentage points—and a little compounding—can make a big difference!
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Do you ever feel like you’re constantly chasing the next milestone, rarely stopping to enjoy the present moment? In this episode of The Grow Your Wealthy Mindset, we explore the powerful practice of savoring—intentionally appreciating positive experiences from the past, present, and future—and how it directly contributes to greater happiness and well-being.
This episode is the 9th in the series exploring concepts from The How of Happiness by Dr. Sonja Lubormosky.
What You’ll Learn in This Episode:
- Why high achievers often struggle to live in the moment
- The difference between savoring and flow
- Three ways to savor: past, present, and future
- Simple techniques to intensify and prolong enjoyment
- How savoring boosts resilience, optimism, and emotional well-being
- The surprising emotional benefits of nostalgia and bittersweet experiences
Practical Tips Shared:
- How to relish everyday routines like meals and coffee
- Creating a “savoring album” to capture meaningful memories
- Using guided imagery to relive joyful moments
- The right way to use your camera without missing the moment
- Celebrating small wins and sharing joy with others
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
What does a two–week trip to Ireland really cost—and how do you plan for it without blowing your budget? 🌍✈️
In this two episode series, I take you behind the scenes of our recent two–week adventure across Ireland. From castle stays and scenic drives to cozy B&Bs and once–in–a–lifetime experiences (like a hawk walk at Ashford Castle), I share exactly how I planned the trip, the financial choices we made, and a detailed breakdown of what we spent.
Here’s what you’ll hear in this episode:
How I booked flights (and rebooked to save money!) as upgraded to Polaris Business Class
Why we splurged on castle stays—and where we saved with B&Bs and groceries
The cost of rental cars, gas, ferries, and tolls while road-tripping through Ireland
Our favorite activities (from historic castles to Irish music pubs) and how much they cost
A full budget breakdown: lodging, transportation, food, and entertainment
How my pre-trip spending plan compared to what we actually spent
Whether you’re dreaming of Ireland, planning your own European getaway, or just curious about the real costs of international travel, this episode will give you both inspiration and practical money insights.
If you enjoyed this episode or have questions about trip planning and finances, email me at growyourwealthymindset@gmail.com
—I’d love to hear from you!
To see pictures from my Irish travels, find me on Facebook at https://www.facebook.com/ElisaChiang and check out my photo albums.
Check out Ashford Castle at https://ashfordcastle.com/
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
What does a two–week trip to Ireland really cost—and how do you plan for it without blowing your budget? 🌍✈️
In this two episode series, I take you behind the scenes of our recent two–week adventure across Ireland. From castle stays and scenic drives to cozy B&Bs and once–in–a–lifetime experiences (like a hawk walk at Ashford Castle), I share exactly how I planned the trip, the financial choices we made, and a detailed breakdown of what we spent.
Here’s what you’ll hear in this episode:
How I booked flights (and rebooked to save money!) as upgraded to Polaris Business Class
Why we splurged on castle stays—and where we saved with B&Bs and groceries
The cost of rental cars, gas, ferries, and tolls while road-tripping through Ireland
Our favorite activities (from historic castles to Irish music pubs) and how much they cost
A full budget breakdown: lodging, transportation, food, and entertainment
How my pre-trip spending plan compared to what we actually spent
Whether you’re dreaming of Ireland, planning your own European getaway, or just curious about the real costs of international travel, this episode will give you both inspiration and practical money insights.
If you enjoyed this episode or have questions about trip planning and finances, email me at growyourwealthymindset@gmail.com
—I’d love to hear from you!
To see pictures from my Irish travels, find me on Facebook at https://www.facebook.com/ElisaChiang and check out my photo albums.
Check out Ashford Castle at https://ashfordcastle.com/
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Life insurance isn’t something we buy for ourselves—it’s an act of love and protection for those who depend on us. This episode answers a listener’s question: How much life insurance is recommended?
This episode dives deeper into how to determine the right amount of coverage based on your personal circumstances—whether you’re single, married, or raising a family. Dr. Elisa Chiang shares real-world examples and walks through different strategies for determining how much term life insurance a physician should consider, including:
✅ The difference between term and permanent life insurance
✅ When you actually don’t need coverage
✅ Why physicians should often opt for term life over permanent policies
✅ Three different methods to calculate how much coverage to buy
✅ How to “ladder” life insurance policies for cost savings and flexibility
✅ Real-life case study of a physician family
Whether you’re just starting out in your career or well into attending life, this episode will help you feel more confident making decisions about protecting your family's future.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In this episode, we explore a powerful and fun way to boost your happiness—by living in the present through flow and savoring. This is the 8th episode in the series following Dr. Sonja Lubomirski’s book, The How of Happiness.
You’ll learn what “flow” really means, how to create it in your daily life, and why it’s one of the most effective ways to feel more fulfilled, engaged, and joyful—whether at work, at home, or in your free time.
Drawing from the groundbreaking research of psychologist Mihaly Csikszentmihalyi, we dive into how flow helps us operate at our best, the importance of balancing challenge and skill, and how to find deeper meaning even in routine activities. We also cover practical ways to invite more flow into your conversations, leisure time, and professional life—plus, why savoring the process matters more than chasing the end goal.
What You’ll Learn in This Episode:
- What the state of flow is and why it’s so enjoyable
- How to find the right balance between challenge and skill
- Why flow leads to more happiness and fulfillment
- How to create “microflow” moments in everyday tasks
- Ways to bring flow into your conversations and leisure time
- How your perspective on work can shift your experience of it
- The difference between healthy flow and potentially harmful overindulgence
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In this episode of The Grow Your Wealthy Mindset, we demystify the world of options trading—a topic that often feels complex and intimidating, especially for busy professionals like physicians. Whether you’ve heard of puts, calls, or covered calls and want to finally understand what they mean, or you're simply curious about how options can fit into a diversified investment strategy, this episode is for you.
Tune in to learn:
What options are and how they work
The difference between calls and puts
What it means to short a stock vs. buying a put
Common options strategies: covered calls, protective puts, bull call spreads, and bear put spreads
Even if you never plan to trade options, understanding how they work will help you better grasp market behavior and protect your wealth from unnecessary risk. Tune in to learn how options trading can be used for speculation, hedging, and income generation—and why it may or may not be a fit for your personal financial plan.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Dave Ramsey has helped millions of people take control of their finances—but does his advice make sense for physicians? In this episode of The Grow Your Wealthy Mindset, I break down where Ramsey’s principles work and where they fall short for doctors. With our unique financial journey—years of training, six-figure student loan debt, and sudden income jumps—physicians need a more nuanced approach than blanket debt-aversion.
From student loans and investing, to credit cards and retirement planning, I’ll explain why following Ramsey’s 7 Baby Steps might actually hurt more than help, especially if you're a physician working toward financial freedom.
What You’ll Learn in This Episode:
Why debt isn’t always bad—especially when it’s funding an income-producing asset like a medical degree
The ROI of student loans and how to decide if borrowing for education makes sense
Why Ramsey’s strict “no credit card” rule isn’t practical—or always smart—for physicians
Why delaying retirement investing for student loan payoff can cost you
Social Security data source:
Tamborini, Christopher R., ChangHwan Kim, and Arthur Sakamoto. 2015. Education and Lifetime Earnings in the United States. Demography 52: 1383–1407.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In this timely episode, Dr. Elisa Chiang breaks down the One Big Beautiful Bill Act, signed into law on July 4, 2025, and what it means for physicians. With over 800 pages of legislation, this sweeping law has far-reaching implications for taxes, healthcare funding, student loans, and energy incentives. Dr. Chiang highlights the key takeaways—both positive and negative—for physicians, medical students, practice owners, and anyone working in healthcare.
What You'll Learn:
- How the bill permanently lowers marginal tax rates and benefits high-earning physicians
- What the new 100% bonus depreciation rules mean for real estate investors and practice owners
- How the $50 billion Rural Health Fund could impact rural clinicians and hospitals
- Changes to Medicare, Medicaid, and ACA coverage—and what they mean for your patient panels and uncompensated care
- Why the reduction in the Medicaid provider tax will shrink state funding and affect reimbursement
- The new caps on federal student loans and how they may worsen the physician shortage
- Major changes to Public Service Loan Forgiveness (PSLF) and which repayment plans still qualify
- A timeline of expiring clean energy credits for solar, EVs, and home efficiency upgrades
Key Dates to Know:
- July 1, 2026: New cap on federal student loans begins
- July 1, 2028: Deadline for existing borrowers to switch to RAP or IBR for PSLF
- September 30, 2025: EV purchase credits expire
- December 31, 2025: Last day to claim credits for solar panels, energy-efficient windows, and heat pumps
- June 30, 2026: EV charger tax credit expires
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In this episode of The Grow Your Wealthy Mindset, we explore the 7th happiness activity from The How of Happiness by Sonja Lyubomirsky: Learning to Forgive. Forgiveness isn't about condoning hurtful behavior or reconciling relationships—it's about freeing yourself from anger, resentment, and emotional weight. You'll learn what forgiveness truly means, why it's essential for your mental and emotional health, and practical strategies you can start using today to begin your own forgiveness journey.
Whether you're holding onto past hurts or struggling to forgive yourself, this episode offers powerful insights and simple yet transformative exercises to help you move forward with peace and clarity.
What You’ll Learn in This Episode:
What forgiveness is—and what it’s not
How holding onto anger harms your well-being
The science-backed benefits of forgiveness
Step-by-step forgiveness exercises you can try today
Why forgiving others helps you more than it helps them
How to develop empathy even in painful situations
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Did you know you could get a 22–37% discount on your childcare or dependent care expenses just by using pre-tax dollars? In today’s episode, I dive into the often-overlooked but highly valuable Dependent Care Flexible Spending Account (FSA). While Health FSAs and HSAs get plenty of attention, Dependent Care FSAs can offer significant tax advantages—especially for dual-income families or single parents.
I break down who qualifies, what kinds of care are eligible, how much you can contribute, and what special considerations apply if you're divorced, filing separately, or classified as a highly compensated employee.
Whether you’re a physician with young kids or caring for a dependent adult, understanding how to use this account effectively could save you thousands.
In this episode, you’ll learn:
-
How Dependent Care FSAs work and how they differ from Health FSAs
-
Who qualifies as a dependent for reimbursement
-
What expenses are eligible (and what’s not)
-
Key contribution limits for 2025 and special rules for high-income earners
-
How divorce and custody arrangements affect eligibility
-
How to coordinate Dependent Care FSAs with the Child and Dependent Care Tax Credit
-
Common mistakes and nuances to watch out for
Resources Mentioned:
IRS Publication 503: https://www.irs.gov/publications/p503
Episode 137: Flexible Spending and Healthcare Savings Accounts
Disclaimer: I am not a CPA. Please consult your tax advisor for personalized guidance.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Looking for a way to grow your income beyond your clinical job? In this episode, we’re diving into debt funds—an often overlooked but powerful tool for generating cash flow. Whether you're curious about how they work, the risks involved, or how to get started, this episode breaks it all down in simple terms. If you’ve ever wondered how you can make your money work harder for you—without swinging for the fences—debt funds might be the steady engine your portfolio needs.
In this episode, you’ll learn:
What debt funds are and how they generate income
What kind of returns you can expect from debt fund investments
Tax considerations for debt fund income
How to evaluate a debt fund and what to look for
Common pitfalls to avoid when investing in these vehicles
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In this episode of The Grow Your Wealthy Mindset Podcast, we're diving into two primary strategies investors use to grow their wealth: investing for appreciation and investing for cashflow. Whether you're aiming to build long-term wealth or looking to create more immediate income from your investments, understanding the difference between these two approaches is essential to aligning your strategy with your financial goals.
You'll learn:
The difference between equity appreciation and investment cashflow
How payment structures can impact your total return and reinvestment opportunities
Why your financial phase (accumulation vs. decumulation) influences your preferred investment style
Which types of assets typically favor appreciation (e.g., stocks, Class A real estate)
Which investments are better known for cashflow (e.g., REITs, bonds, Class C real estate)
The tax implications of appreciation vs. cashflow investing
How passive income vehicles like dividend stocks, CDs, and bonds can complement your investment strategy
Resources & Mentions:
Episode 143: REITs: The Simplest Way to Invest in Real Estate – Released Feb 19, 2025
Episode 34: Understanding Certificates of Deposit (CDs) – Released Jan 18, 2023
Vanguard High Dividend Yield Index Fund – With a recent 30-day yield of 2.63%
Dividend-Paying Stocks Mentioned:
AGNC Investment (AGNC) – 17% yield
International Seaways Inc (INSW) – Up to 14% yield
AG Mortgage Investment Trust Inc (MITT) – Up to 12% yield
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
This episode if a collaboration project with myself and Dr. Disha Spath where we talk about money and happiness. Tune in for a fun and insightful conversation.
Dr. Disha Spath is a board-certified Internal Medicine Physician and the founder and CEO of The Frugal Physician, which has been recognized as a Plutus award nominee for excellence in financial media.
In addition to leading her own initiative, Dr. Spath contributes as a personal finance columnist for Practice Link magazine and has served as a finance contributor to NBC Universal. She has also been a host on the White Coat Investor podcast. Her expertise has been featured in major media outlets such as CNBC, Business Insider, and Forbes. Dr. Spath is passionate about helping physicians manage their finances effectively, enabling them to define and pursue their ideal lives.
You can learn more about Disha's podcast Finding Financial Freedom with The Frugal Physician at http://www.thefrugalphysician.com/podcast
Website: www.thefrugalphysician.com
Handles:
Facebook Page: @thefrugalphysician
Facebook Group: @The Frugal Physicians
Instagram: @frugalphysician
X: @frugalphysician
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In this episode of The Grow Your Wealthy Mindset, we explore the 6th activity from The How of Happiness by Sonja Lyubomirsky, Developing Strategies for Coping.Whether you're facing burnout, personal loss, or the everyday emotional weight of your work, learning to cope effectively can be life-changing. This episode reviews different types of coping strategies, from problem-solving to emotional processing, and dive into practical tools like expressive writing, thought disputation, and finding meaning in painful experiences.
What You’ll Learn in This Episode:
· The two primary types of coping: problem-focused and emotion-focused—and when each is most useful
· How expressive writing can help you process trauma and distress
· A three-step approach to finding personal growth and deeper meaning after loss
· The ABCDE thought disputation technique to challenge negative beliefs and reduce anxiety
· The thought model CTFAR by Brooke Castillo of The Life Coach School
· The Work by Byron Katie
· How working with a coach can help reframe your thoughts
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
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Are you tracking your spending—or just hoping it all works out? In this episode of The Grow Your Wealthy Mindset, I share how tracking your expenses can empower you to make intentional decisions, without the restrictions of a traditional "budget." I explain the difference between a spending plan and a budget, why I prefer the former, and exactly how my household tracks spending down to the category—from groceries and entertainment to travel and household maintenance.
To kick off the 4th season of The Grow Your Wealthy Mindset Podcast, I’m embracing being open when talking about money. I also break down our real numbers from July 2023 to June 2024, so you can see how a personalized spending plan actually works in practice. I offer insights into tools, tracking systems, and the mindset shifts that can help you take control of your financial life.
If you've ever felt overwhelmed by the idea of budgeting or confused about how much you should be spending, this episode will help demystify the process—and show you how tracking your spending can give you clarity, not constraint.
What You'll Learn in This Episode:
· The difference between a budget and a spending plan
· Why awareness (not restriction) is the key to financial control
· How we track expenses using spreadsheets—and why that works for us
· A full breakdown of our actual household spending (including groceries, entertainment, utilities, travel, and more)
· What it means to "pay yourself first" and how we invest 25%+ of our gross income
· How to adjust your spending plan as life and priorities change
· Tools and apps you can consider to help track your spending
Consider checking out Episode 25: Tools to Help Track Your Net Worth and Spending (Nov 16, 2022)
Connect With Me:
If you're ready to get clarity around your money, feel confident managing your finances, and design a spending plan that supports your goals, I'm here to help. I work with physicians and high-income professionals 1:1 to build financial literacy, heal money shame, and create intentional wealth.
👉 Book a call at www.growyourwealthymindset.com to get started.
Thank you for listening!
Please subscribe, share, and leave a review if this episode resonated with you. Let’s keep the conversation around money open, honest, and empowering.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Last week, we explored the role of insurance in protecting your assets. This week, we’re zooming in on a type of insurance that often flies under the radar: travel insurance. Whether you're climbing Mount Kilimanjaro, cruising to Antarctica, or simply flying cross-country, travel insurance can make or break your trip financially if something goes wrong.
In this episode, I share:
- When travel insurance is actually worth buying
- The difference between credit card travel protection and comprehensive travel insurance
- Why I canceled my Chase Sapphire Preferred after a frustrating insurance claim
- How to evaluate the real value of travel coverage, especially when traveling internationally
- The pros and cons of single-trip vs. annual travel insurance
- Which companies are most reputable and what to look for in a policy
From missed connections to emergency evacuations, I’ll help you decide when it makes sense to get coverage — and how to avoid wasting money on insurance that won’t pay when you need it most.
Key Takeaways
- Credit card travel insurance can be helpful for minor issues, but often lacks the customer support or reimbursement success for larger claims.
- Comprehensive travel insurance offers coverage for emergencies, medical care, and trip cancellations — crucial for expensive or adventurous trips.
- Consider annual plans if you travel frequently.
- Always read the fine print and check what’s truly covered before buying.
Mentioned Travel Insurance Companies
- Allianz Travel Insurance
- World Nomads
- AIG Travel Guard
- IMG
- Travelex Insurance
- American Express Travel Insurance
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
When it comes to asset protection, your first line of defense is insurance against a potential financial disaster. You may purchase insurance to protect an asset, like homeowners’ insurance protects your personal residence in the case of significant damage. As you build your wealth, you may drop some types of insurance since you can self-fund if a situation occurs where you would actually use that insurance. Once you have an emergency fund that covers 3-6 months of living expenses, then you can self-fund any short-term disability. Some insurances are only necessarily depending on your personal situation. Life insurance is really to protect your loved ones since when you buy life insurance for yourself, you aren’t on this earth the benefit from the payout of life insurance.
This episode reviews the different types of insurance products and breaks down who would benefit from each insurance product.
Disclaimer: I am not an insurance broker, this is not personalized professional advice.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
This month is going over probably my favorite happiness activity that comes out of The How of Happiness by Dr. Sonja Lyubomirsky and that’s nurturing social relationships. I personally am an extravert and love being connected with people. However, I have found this harder to do as I’ve gotten older. We all get busy with our lives and time can seem to fly by. I’ll notice it has been months since I chatted with a friend. Prepping this episode has prompted me to reach out to several people, as I mention in the episode. I hope it also prompts you to reach out to a friend or loved one you haven’t connected with in a while. It’s likely to boost your, and their, happiness.
In this episode, we dive into:
- Why connection is a biological and emotional necessity
- How small expressions of gratitude can transform your marriage or partnership
- The surprising truth about happy couples and the 5:1 ratio
- How to shift your mindset when a loved one disappoints you
- The Four Horsemen of unhappy relationships—and how to avoid them
- Ways to celebrate good news with others and deepen connection
If you’re looking to feel more supported, loved, and joyful in your everyday life, this episode offers practical strategies backed by research—and delivered with compassion.
Books Mentioned:
- The How of Happiness by Sonja Lyubomirsky
- The Seven Principles for Making Marriage Work by Dr. John Gottman
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
More people are familiar with the Backdoor Roth IRA strategy but there is also a Mega Backdoor Roth Strategy. While the Backdoor Roth Strategy is available to the majority of people, the Mega Backdoor Roth Strategy is more limited since it depends on how your employer sponsored retirement plan, whether it’s a 401(k), 403(b) or 401(a), is set up. In this episode, discuss Roth conversions, review the Backdoor Roth IRA strategy (also check-out Episode 38: The Backdoor Roth IRA Explained) and then discuss the Mega Backdoor Roth Strategy.
This week’s episode covers:
· What a Roth conversion is and how it works
· Why it’s important to know whether your IRA contributions are pre-tax or post-tax
· How to handle taxes when performing a Roth conversion
· The income limits for Roth IRA contributions in 2025 and how they affect high earners
· Why the Backdoor Roth IRA remains a valuable strategy despite no upfront deduction
· The step-by-step mechanics of the Mega Backdoor Roth strategy
· Which types of 401(k) plans support Mega Backdoor Roths
· Why business owners and self-employed physicians are uniquely positioned to take advantage of these strategies
· Tax implications and planning considerations, including why consulting with a CPA is essential
If you’ve been wondering how to maximize your retirement savings and achieve greater tax efficiency, especially as a high-income earner, this episode is packed with practical guidance.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Index fund investing is the best way to invest in the stock market. It has low fees, is tax efficent, and hands off while providing better returns over a 10 year period compared to 90% of actively managed mutual funds.
However, not all index funds are created equal. There are index funds that have relatively high expenses and high turnover leading to tax inefficiency. There are also index funds that don’t track the index they are following particularly well, leading to subpar returns.
Choosing Index Funds is easy at Vanguard, Fidelity, or Charles Schwab who provide generally good index funds. But what about your employer sponsored retirement account where you may not have access to Vanguard or Fidelity Funds? Tune in to this week’s episode to learn how to look for a good index fund for your portfolio.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
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You may have heard recommendations that range anywhere between 10% and 50% when it comes to how much of your income to save for retirement. I often recommend saving a min of 20% of gross income to physicians who plan to invest primarily in stock and bond index funds. How do you know what saving rate you need in your situation?
What it comes down to is how many years you save (and invest) for retirement prior to withdrawing from the portfolio to fund retirement and how large of a portfolio is necessary to support the level of spending you desire to have once you are retired. The other factor is how long of a retirement you are expecting, which is a bit variable since no one really knows at what age they will die. If you plan on working until you are 65, you probably don’t need to plan for a 40 year retirement but there is a possibility you could live to age 105.
In this episode, I first do some calculations at various savings rates based on a $350,000 income, which is around the current average income for a physician. I think discuss Wade Donald Plau’s research on Safe Savings Rates.
This is an episode where it may be helpful to read the information and look at the chart. You can find a blog version of this week's podcast episode at https://www.growyourwealthymindset.com/blog
Pfau, Wade Donald, 2011. "Safe Savings Rates: A New Approach to Retirement Planning over the Lifecycle," MPRA Paper 28796, University Library of Munich, Germany.
https://ideas.repec.org/p/pra/mprapa/28796.html
You may also want to check out the blog article based on this episode, which can be found at https://www.growyourwealthymindset.com/blog
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In the book, The How of Happiness, Dr. Sonja Lynbomirsky outlines 12 activities to increase overall happiness by shifting one's baseline. For 2025, each month will have an episode that talks about activities that can help increase happiness by adjusting that baseline upwards.
This month’s episode is about Practicing Acts of Kindness. Tune in to learn about activities that research has shown to increase happiness.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
When you hear about a big drop in the stock market, do you feel uneasy? Do you consider selling your stocks or not investing any more money right now. That you’ll wait until the market starts to recover?
If that sounds like you, you need to listen to this podcast episode. I want to encourage you to stay invested. When you deviate from your investment plan due to the performance of the stock market, you are actually practicing market timing, which is a fool game.
In this episode, I explain why it’s so hard to time the market and why it’s better to stay invested, and keep investing according to your financial or investment plan. That was true even with the Great Depression. The big market drop came in 1929 but the stock market didn’t hit bit bottom until 1932. People who kept investing in 1930 and 1931 and didn’t wait until 1932 ended up with a much higher portfolio by 1942.
Current life expectancy in the US of 79.4 years is from https://www.macrotrends.net/global-metrics/countries/usa/united-states/life-expectancy
The research study that showed that US male physicians were older when they died compared to male lawyers, other male professionals, and men in general is Frank, Erica et al. Mortality rates and causes among U.S. physicians American Journal of Preventive Medicine, Volume 19, Issue 3, 155 – 159. The Jama paper reporting women physicians have a lower life expectancy compared to male physicians is Patel VR, Liu M, Worsham CM, Stanford FC, Ganguli I, Jena AB. Mortality Among US Physicians and Other Health Care Workers. JAMA Intern Med. Published online February 24, 2025.W
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
401(a) plans were established with the original tax code in 1954 and have actually been around longer than 401(k) or 403(b) plans. 401(a) plans are generally offered by government agencies, educational institutions and non-profit organizations. Employers can form multiple 401a plans that each have their own distinct eligibility criteria, contribution amounts, and vesting schedules. 401a plans can have mandatory or voluntary contributions. For those plans that require employees to participate, employers must also contribute to the plan for the benefit of the employee. An employer may offer both a 401(a) plan and 403(b) plan which each have separate contribution limits. Tune into this episode to learn more about 401(a) plans and how they differ from 403(b) and 401(k) plans.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
The alternative minimum tax, or AMT, was implemented in 1969 to ensure that all Americans pay their fair share of taxes, and particularly targeted high-income individuals who had a lot of tax deductions. It was originally design to catch those high-income individuals who paid little to no tax but unfortunately, it was not indexed for inflation until 2012. Over time, the AMT started affecting tax payers in middle-class households. The Tax Cuts and Jobs Act of 2017 passed under President Trump’s first term made significant changes to the AMT beginning with the 2018 tax year but that expire in 2025. Depending on what happens this year, we will likely see changes to the tax code. This could be a continuation of what was passed in 2017 or something new. This episode goes into the AMT before 2017, who it affects for 2025, and what could happen if the TCJA is not extended or replaced.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Dr. Michele Cho-Dorado is a Pediatric Gastroenterologist, Medical Director, children’s book author, speaker and founder of Bright Futures EDG. She has developed a children’s book series with a mission to introduce financial literacy to young kids. Her first two books are called “Reach For The Stars” and “Mimi’s Magical Money-Earning Adventure” with additional books being released soon. Bright Futures EDG was formed to be a platform to increase financial literacy for kids while empowering them to be bold and to think big.
She will be hosting the second annual Prosperous Kids Summit in late March 2025, which focuses on helping parents set their kids up for financial and personal success. She hopes to help raise confident leaders and compassionate changemakers. I am proud to be one of the speakers at this year's conference. Registration is free at https://prosperouskidssummit.com/
Contact or follow Dr. Michele Cho-Dorado at
Website www.BrightFuturesEDG.com
Instagram: @brightfuturesedg
Facebook: Bright Futures EDG
LinkedIn: www.linkedin.com/in/michelecd/
Email: info@brightfuturesedg.com
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In the book, The How of Happiness, Dr. Sonja Lynbomirsky outlines 12 activities to increase overall happiness by shifting one's baseline. For 2025, each month will have an episode that talks about activities that can help increase happiness by adjusting that baseline upwards.
This month’s episode is about avoiding overthinking and social comparison. Tune in to learn about activities that research has shown to increase happiness.
In the book, overthinking is defined as thinking too much, needlessly, passively, endlessly and excessive pondering the meanings, causses, and consequence of your character, your feelings, and your problems. This podcast reviews 5 strategies to help stop overthinking
Social comparison is comparing yourself to others and is natural in our society. From a young age, we get compared to our fellow students in school, to our fellow teammates when playing sports, and possibly to our siblings by our parents/teachers/other adults. Social comparison can both be motivating and demoralizing. The key is to focus on the positive aspects.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
W-2 is a wage and tax statement and is sent by an employer to an employee to show the earned income the employer paid the employee during the prior tax year.
1099-NEC (or 1099-MISC before 2020) are issued to independent contractors.
K-1’s are issued by Partnerships, S-Corps, or Estates and Trusts to partners, shareholders, and beneficiaries to report financial information like income and earnings, losses, deductions, and credits.
Three are a number of other types of 1099s issued to report some sort of compensation or distribution of assets as well as losses.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
One thing that attracts a lot of people to investing in real estate is how fast you can potentially grow your wealth. Yes, it takes a lot more effort and work than investing in low cost index funds. The use of financial leverage is also a key to amplify returns in real estate investing. However, using financial leverage goes both ways, it magnifies returns but also magnifies losses. Tune in to learn more about the risks and benefits of using financial leverage with different scenarios explaining the power, for better or worse, of financial leverage.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
The easiest way to invest in real estate is through publicly traded REITs, Real Estate Investment Trusts and REIT mutual funds or exchange traded funds.
Congress established REITS in 1960 which must meet specific criteria.
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Invest at least 75% of its total assets in real estate, cash, or US Treasurys
-
Derive at least 75% of its gross income from rents of real property, interest on mortgage financing property or from sales of real estate
-
Pay at least 90% of its taxable income in the form of shareholder dividends each year
-
Taxed as a corporation and managed by a board of directors or trustees
-
Must have a minimum of 100 shareholders with no more than 50% of its shares held by five or fewer individuals.
REITs can be a good source of cashflow, though they tend to be tax inefficient. REITs provide high liquidity and diversification and you can start with small investments.
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Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In the book, The How of Happiness, Dr. Sonja Lynbomirsky outlines 12 activities to increase overall happiness by shifting one's baseline. For 2025, each month will have an episode that talks about activities that can help increase happiness by adjusting that baseline upwards.
This month’s episode is about cultivating optimism. Tune in to learn about activities that research has shown to increase happiness.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Have you ever heard of a hot stock tip and debated if you should jump on it? Or been invited to join a group where they discuss promising stocks? If so, you want to avoid finding yourself in a pump an dump scheme. It can be tempting to seek out quick riches but it can leave you with sizeable losses. In this episode, I review what are pump and dump schemes and how they work. I also talk about short squeezes, like what happened to GameStop Stock in 2021.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
For many people, the largest amount of money spent in a single purchase is buying real estate. The average home price in the United States is around $420,000 in 2024. In high cost of living areas, the average single-family house can be over $1 million dollars. There are people who think that rent is throwing away money, and if a mortgage is less than rent, you should buy.
What those people don’t realize is the true cost of homeownership. This includes the cost of purchasing a home, maintaining the home, and selling the home. It is possible to purchase a home with very little upfront cash, this is especially true when using a physician loan. Once you own the home, you are responsible for all the maintenance. This not only includes utilities and landscaping but also fixing and replacing household appliances or structural components. When selling a property, you may need to make repairs or pay for staging. You’ll also pay for closing costs and realtor costs.
Tune in to learn more about the true costs of home ownership.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
This episode discusses the adjustment in tax brackets and changes in contribution limits for tax advantaged accounts for 2025.
Marginal Tax Rates for 2025
37% for single taxpayers with incomes over $626,350 and $751,600 for married couples filing jointly
35% for incomes over $250,525 and $501,050 for married couples filing jointly
32% for incomes over $197,300 and $394,600 for married couples filing jointly
24% for incomes over $103,350 and $206,700 for married couples filing jointly
22% for incomes over $48,475 and $96,950 for married couples filing jointly
12% for incomes over $11,925 and $23,850 for married couples filing jointly
10% for incomes $11,925 or less and $23,850 or less for married couples filing jointly
The standard deduction for 2025 is $15,000 for single filers and $30,000 for married couples filing jointly.
Social security tax now applies to the first $176,100 of income, up from $168,600 in 2024. This means paying an extra $465 in 2025 to social security taxes for salaries above $176,100.
2025 Contribution limits
401(k) 403(b) and 457 employee contribution limits
Under age 50 $23,500
Age 50-59, age 64 and older $23,500 + $7,500 catch up for total $31,000
Age 60-63 - $23,500 + $11,250 catch-up for total $34,750
401(k) and 403(b) Employer contribution limits - $46,500 or 25% of employees salary, whichever is lower, contrubtions are salary capped at $350,000
IRA/Roth IRA
Age <50 $7,000
Age 50+ $7,000 + $1,000 catch-up = $8,000
Defined benefit plan contribution limit - $280,000
Define contribution plans contribution limit - $70,000
Health Savings accounts contribution limit - $4,300 for single and $8550 for families There is a 1,000 catch up for those 55 and older.
More details at https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
In Episode 131: Escaping the Hedonic Treadmill, we learned that hedonic adaptation is the tendency to return to a relatively stable level of happiness. People tend to have a baseline or set point level of happiness (or unhappiness) that hey return to. There are ways to adjust that baseline.
In the book, The How of Happiness, Dr. Sonja Lynbomirsky outlines 12 activities to increase overall happiness by shifting one's baseline. For 2025, each month will have an episode that talks about activities that can help increase happiness by adjusting that baseline upwards.
This month’s episode is about expressing gratitude. Tune in to learn about activities that research has shown to increase happiness.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
Flexible Spending and Heathcare Savings Accounts are both ways to pay for your medical expenses with pre-tax money. Anytime you can use pretax money to pay for anything, you are getting generally getting a 22% discount or more depending on your tax bracket.
Flexible Spending Accounts (FSA) are benefits that may be provided by your Employer. Not all Employers will provide this benefit and with some employers, you may pay a fee to have this benefit. Money is taking out of your paycheck throughout the year which can be used to directly pay for or reimburse qualified medical expenses. The money is use it or lose it so you want to consider your healthcare expenses carefully before decided how much money to set aside in these accounts.
Healthcare Savings Accounts (HSA) are available to anyone with a qualified High Deductible Healthcare Insurance Plan. This is not a benefit from your employer, but will often be set up with your employer if you are using a healthcare insurance plan they offer you as a benefit. You contribute pretax money into the account where you can invest it to grow tax free. If you use that money anytime in the future for qualified healthcare expenses, it comes out tax free as well. You can reimburse yourself for qualified medical expenses years after you incurred the expense, as long as the expense was incurred after the account was created. There is no other tax advantaged account where money goes in pre-tax, grows tax free, and can be withdrawn without paying taxes as well.
Tune in to this week’s podcast to learn more about the details of these two types of accounts.
Please subscribe and leave a review on your favorite Podcasting platform.
Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mind...
The roots of making New Year Resolutions can be traced to Ancient Babylonia and well as Roman traditions. It’s still something many people do today. However, many people who make New Year Resolutions don’t end up keeping them. In this episode, I talk about goal setting an what can help you to accomplish those goals.
I am also happy to announce that for the new year, I will be taking a limited number of clients for a year of unlimited coaching sessions for the bargain price of $8,000. We can coach on any and all aspects of your life so that 2025 is a year of transformation. Imagine how much change you could make in a year. I’ve had prior clients who either saved more than the cost of coaching or brought in far more money through coaching then they paid for the coaching. Consider this as an investment that could pay huge dividends if you are willing to do the work. If you want to jump forward on your goals, set up a zoom meeting at https://www.GrowYourWealthyMindset.com.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Some of us are spenders while some of us are savers. Personally, I’m a saver. I like to always have a money cushion. The idea of living paycheck to paycheck freaks me out. I like to get good value and prefer to buy any big-ticket items on sale. That being said, I do like nice things and spend a lot on experiences/travel. It can be hard for me to buy something nicer than what I already have which still works or does the job. If you’re like me, then this week’s episode is for you.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Amy Vertrees, MD is a board-certified general surgeon, Army veteran, certified coach, author and founder of the BOSS Business of Surgery Series. She served 17 years in the Army, reaching the rank of lieutenant colonel, and deploying 3 times to Afghanistan and Iraq as a general surgeon. After leaving the military, she was an employed surgeon then created Columbia Surgical Partners, a private practice general surgery group. She discovered there were lessons that she was never taught in residency that were necessary for a successful surgical career. She created the BOSS Business of Surgery Series to fill in that gap and has used everything that she has learned to become a successful private practice general surgeon. The BOSS series includes a highly rated podcast, group coaching and 1:1 coaching and the book “Become the BOSS MD: Success Beyond Residency.”
In this episode, Dr. Amy and I talk about the fluctuations in income that occur with being a business owner and the mental drama it can create. As an employed physician, she was used to a regular paycheck. Her goal with her private practice was to be profitable from day 1. Tune in to learn more how she made this goal a reality but how she had to learn to manage the fluctuations in income.
You can contact Dr. Amy Vertrees at
Website: https://www.bosssurgery.com/
Facebook: “Become the BOSS MD Coaching”
https://www.facebook.com/groups/249619353796932
Instagram https://www.instagram.com/become_the_bossmd/
LinkedIn: https://www.linkedin.com/in/amy-vertrees-md-20192a8b/
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Most physicians will change where they work at least once during their career. Some estimates are as high as 70% of physicians leaving their first job within 2 years. If you have been at a job for a while, hopefully you have an employer sponsored retirement account like a 401(K) or 403(b). Your may also have a 457 plan. This episode discusses the options for what to do with these accounts when you leave your job.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
While filing taxes may still feel like a long time away, December is the time to strategize what you can do before the end of the year to decrease your tax burden. In this episode, I review actions you may want to consider to decrease your tax bill.
Maxing out your employee contributions to your employer sponsored retirement accounts, your 401K or 403B
Donate to 501(c)(3) charities if you itemize your tax deductions
Putting your family to work in your business if you have a profitable business. This could be your private practice or a side-business
Maximize any business tax deductions including purchasing needed equipment that qualifies for bonus depreciation or pre-paying business expenses like rent and utilities for the following month
Depending on your situation, prepay state and local income taxes.
I am not an accountant or CPA so please review any of these strategies with your CPA to make sure you are following to rules to maximize your tax deductions.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Hedonic adaptation is the tendency to return to a relatively stable level of happiness. Good things happen and we may be happy but over time, we return to our baseline of happiness. Bad things happen and we may be upset, sad, or angry but over time, we return to our baseline of happiness. If that’s the case, are we stuck where we are? In this episode, I talk about Hedonic Treadmill, it’s similarities and differences from habituation, and some things we can do to actually shift out baseline level of happiness.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Many people have a hard time saying no and this can affect multiple areas of life related to and not related to money. In this episode, I talk about reasons we may not be saying no as often as we should and how to get more comfortable saying no.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Many people are interested in investing in real estate but don’t want the hassle or headaches of being a landlord. This week’s episode talks about how accredited investors can invest passively in real estate syndications or real estate funds. It explains what a real estate syndication represents and compares investing in individual real estate syndications to real estate funds.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
If you are interested in learning more about how to evaluate a real estate syndication, The Hands-Off Investor by Brian Burke is a great place to start.
I know everyone does love learning about finances and investing. Some people just want to know what they should invest in. In this episode, I talk about mutual funds that are one stop shopping where a single fun could meet your investment goal as well as putting together a diversified portfolio with three or four different funds.
Recommended funds to build your portfolio as mentioned in the podcast include:
Vanguard
Vanguard Total Stock Market Index Fund (VTSAX) Exp ratio 0.04%
Vanguard Total International Stock Index Fund (VTIAX) Exp ratio 0.12%
Vanguard Total Bond Market Fund (VBTLX) Exp ratio 0.05%
Vanguard Total International Bond Index Fund (VTABX) Exp ratio 0.11%
Fidelity
Fidelity ZERO Total Market Index Fund (FZROX) (Exp ratio 0%, not open to new investors) or Fidelity Total Market Index Fund (FSKAX) Exp ratio 0.015%
Fidelity ZERO International Index Fund (FZILX) (Exp ratio 0%, not open to new investors) or Fidelity Total International Index Fund (FTIHX) Exp ratio 0.06%
Fidelity U.S. Bond Index Fund (FXNAX) Exp ratio 0.025%
Charles Schwab
Schwab Total Stock Market Index (SWTSX) Exp ratio 0.03%
Schwab International Index (SWISX) Exp ratio 0.06%
Schwab U.S. Aggregate Bond Index Fund (SWAGX) Exp ratio 0.04%
T Rowe Price *
Total Equity Market Index Fund (POMIX) Exp ratio 0.19%
International Equity Index Fund (PIEQX) Exp ratio 0.26%
US Bond Enhanced Index Fund (PBDIX) Gross Exp ratio 0.28%
Northern Funds*
Stock Index (NOSIX)
International Index (NOINX)
Bond Index (NOBOX)
Dreyfus Funds*
S&P 500 Basic Index (DSPIX)
International Index (DIPSX)
Bond Index Basic (DBIRX)
*Funds suggested by the Bogleheads Wikki
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
When it comes to planning our spending, we often what we need, what we want, and what we can afford. Sometimes, we conflate things we want as things we need but when we step back, we realize a lot of things we feel we need are really things we want. Then there are things we want that we may say we can’t afford. Paula Pant is known for saying “You can afford anything, but not everything.” As physicians, that rings true. Where are you choosing to spend your money and do you like those decisions?
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
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https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
I have often thought of the 403b as being the non-profit version of the 401K but through recent events, I’ve learned some differences that may affect those working at non-profits. This may be especially true if your spouse is a teacher or works for a school system.
I found https://403bwise.org/ to be a helpful website. They rate different 403b providers at https://403bwise.org/advocacy/rating_system
This podcast is also a story of how it can be frustrating to navigating getting your financial house in order but hopefully show you that anyone, even someone who enjoys managing her finances, can end up having a painful time doing something that seems like it should be simple.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
In 2022, women in the United States earn 82 cents for every dollar men earn. This has been called the Gener Wage Gap or the Gender Pay Gap. This gap appears to be potentially higher for women physicians, and persists even after controlling for age, experience, specialty and other factors. Over a simulated 40 year career, women physician are estimated to earn $2 million less than male physicians. Women are also more likely to decrease work or give up work in order to take care of children. This puts women at a disadvantage for building wealth compared to men. This episode explores the evidence behind the gender pay gap and talks about things you can start doing now to close the gap for yourself.
References
US Census Bureau
https://www.gao.gov/products/gao-23-106041 US Census Bureau
Diversity in Medicine: Facts and Figures 2019 Figure 12. Percentage of U.S. medical school graduates by sex, academic years 1980-1981 through 2018-2019
https://www.aamc.org/data-reports/workforce/data/figure-12-percentage-us-medical-school-graduates-sex-academic-years-1980-1981-through-2018-2019
Jena AB, Olenski AR, Blumenthal DM. Sex Differences in Physician Salary in US Public Medical Schools. JAMA Intern Med. 2016 Sep 1;176(9):1294-304
Miller H, Seckel E, White CL, Sanchez D, Rubesova E, Mueller C, Bianco K. Gender-based salary differences in academic medicine: a retrospective review of data from six public medical centers in the Western USA BMJ Open. 2022 Apr 7;12(4):
Whaley CM, Koo T, Arora VM, Ganguli I, Gross N, and Jena AB. Female Physicians Earn An Estimated $2 Million Less Than Male Physicians Over A Simulated 40-Year Career. 2021 Dec;40(12):1856-1864.
Harvard Business Review Why Women Volunteer for Tasks that Don’t Lead to Promotions
https://hbr.org/2018/07/why-women-volunteer-for-tasks-that-dont-lead-to-promotions
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
This week’s episode comes from a talk I gave at the Women in Ophthalmology Conference. I was given the choice to speak on any financial topic as part of a financial wellness panel but with a very limited time of 8 minutes. I thought really hard about what would be the most important message I could deliver in 8 minutes and when it came down to it, it’s why becoming financially literate is so important. This week’s episode is an expanded version of that 8 minute talk. Enjoy!
If you are affiliated with any medical training program, I’m happy to do a free zoom talk for your residency or fellowship program that goes over the basics of personal finance and investing. Please reach out to me!
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Dr. Nneka Unachukwu is the founder of EntreMD, a company on a mission to help 100,000 physicians build profitable 7 and 7+ figure businesses so they have the freedom to live life and practice medicine on their terms. She does this through the EntreMD Business School, the only school of its kind for physician entrepreneurs, the EntreMD podcast, a top 1% podcast, and her best-selling books. Dr. Una, as she is fondly called has also been featured in Forbes and her company hit #315 on the Inc. 5000 list of fastest-growing privately held companies in America.
She is a board-certified pediatrician and resides outside Atlanta with her husband and four children.
You can connect with Dr. Una online at:
Website Address: www.entremd.com
Facebook: https://www.facebook.com/nneka.chinemeunachukwu
Instagram: @drunachukwu
LinkedIn: @druna
The EntreMD Podcast: www.entremd.com/podcasts
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
The 4% rule is probably the most talked about method when it comes to how to plan to withdraw from your retirement portfolio. However, when it comes to actually withdrawing from your retirement portfolio, there are a lot more options, and nuances. If you're not near retirement, why learn about these different methods now? Using different methods can give you a better idea of how large of a stock/bond portfolio you'll need to last the rest of your lifetime and cover your spending in retirement. It can give you more confidence to know that you will have "enough" during retirement. There are also some people who see the 4% rule is outdated, some say it's too conservative and that you can really plan to withdraw more and others that say there is still the possibility of depleting your portfolio with the 4% rule, especially if your retirement may last longer than 30 years.
In this episode, learn about withdrawal methods including 1/N, Variable Percentage Withdrawal, Dynamic SWR, Endowment Strategy, Guyton-Klinger Guardrails and the 95% rule.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
No one wants their retirement portfolio to run out of money before they die. Many retirement calculators use static assumptions, like a constant growth rate or inflation rate. The stock market may have average returns of around 10% per year but in any given year, it’s rarely a 10% return. Some years it can be up 18% and other years down 10% or anywhere in between.
If you really want to put your retirement portfolio (or your future retirement portfolio) to the test, there are online tools to help you do that. These tools use Monte Carlo simulations, which is a mathematical technique that predicts possible outcomes of an uncertain event.
In this episode, I specifically discuss:
https://thepoorswiss.com/fire-calculator/
https://Firecalc.com
https://ficalc.app/
https://www.portfoliovisualizer.com/monte-carlo-simulation
Two additional tools can be found at:
https://cfiresim.com/
https://engaging-data.com/will-money-last-retire-early/
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
The goal of retirement calculators is to help you answer three questions:
-
How much do I need to save and invest for retirement?
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How much money do I need in my retirement portfolio to retire?
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How much can I realistically expect to spend once I am retired?
In this episode, I review the following free retirement calculators available online.
https://investor.vanguard.com/tools-calculators/retirement-income-calculator
https://www.schwab.com/retirement-planning-tools/retirement-calculator
https://digital.fidelity.com/stgw/digital/planning/retirement/retirement-income-calculator
https://www.nerdwallet.com/calculator/retirement-calculator
https://www.bankrate.com/retirement/retirement-plan-calculator/
https://www.calculator.net/retirement-calculator.html
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
You may have heard that your retirement portfolio should be 25 times your spending or your income for you to retire. This is actually derived from The 4% Rule, which is the commonly held belief that you an safely withdrawal 4% from your retirement portfolio invested in stock and bonds and not run out of money before you die. In this episode, I look at the original published research where the 4% rule originated, which has been nicknamed the Trinity Study. I also talk about the paper published by William Bengen, who inspire the authors of the Trinity Study.
The key take home points are:
-
If you withdrawal 4% of your retirement portfolio in your first year of retirement, and then withdraw that amount adjusted for inflation in each subsequent year, then there is a 95% chance your portfolio will last at least 30 years. This assumes a portfolio that is invested at least 50% in an S&P 500 Index fund with the rest invested in long-term high-grade corporate bonds.
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Have at least 50% of your stock and bond portfolio invested in stocks. A portfolio of 75% stocks and 25% bonds results in more upside with no significant downside compared to investing 50% stocks and 50% bonds. A portfolio of 100% stocks does have the possibility of significant downsides compared to a 75/25 stock/bond portfolio.
The original papers:
Cooley, Phillip L., Carl M. Hubbard, and Daniel T. Walz. (1998). "Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable." AAII Journal, 20(1), 10-14.
https://www.aaii.com/journal/199802/feature.pdf
Bengen, William P. (1994). "Determining Withdrawal Rates Using Historical Data." Journal of Financial Planning, 7(4), 17-26.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Summer vacation is coming to an end. While physicians don’t get summer vacation like students and teacher do, we may think that vacation will come when we retire. While the first few months, or even years, or retirement might feel somewhat like vacation, retirement is not an endless vacation.
In this episode, I talk about Ty Bernicke, a Certified Financial Planner, who believes people need less for retirement than what traditional financial planning recommend. He published a paper called “Reality Retirement Planning: A new Paradigm for an Old Science” in 2005 which discusses how people tend to spend less money as they age in everything other than healthcare. When accounting for the decreased spending that occurs later in life, it’s possible that such a big nest egg isn’t actually needed. Read his article, which can be found free online at https://robberger.com/wp-content/uploads/2024/02/RealityRetirementPlanning.pdf or listen to the podcast episode to learn more.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
This episode is really targeting to those physicians who have recently finished training but will be helpful to anyone who is debating between deciding to pay down debt versus investing. There are multiple factors when it comes to figuring out the best place to put your money. When looking at whether to pay down debt, things to consider include the interest rate, whether or not the debt has the possibility to be forgiven, and if the debt is tax deductible. When it comes to investing, the best first investment for most people is to contribute to an employer sponsored retirement account if there is a match by the employer and that you are likely able to keep that match. In order to keep employer contributions, there is often a vesting period where you have to stay working for the employer for a certain length of time to have contributions match. There are some employers, usually non-profits, where any contributions my fully vest immediately. With other employers, a percentage of employer contributions vest over time or it takes a certain number of years for any contributions to vest. Tune in to learn more to help you make an informed decision.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Qualified dividends are taxed at a lower rate, similar to capital gains tax whereas non-qualified dividends are taxed at the ordinary income tax rate. This episode goes into detail what makes a dividend considered qualified to help you make choices to lower how much you ultimately pay in taxes.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Whenever there is money to be made, Uncle Sam wants his cut. Part of building wealth is learning the rules to legally decrease what you pay to Uncle Sam. In this episode, I talk about Capital Gains Tax, which is the tax on any profit from selling an asset. By holding on to an asset for over a year (366 days), the profit from the sale of the asset is subject to a capital gains tax rate that is lower than your marginal tax rate. There are exceptions to what is included in the long-term capital gains tax rate. Tune in to this week’s episode to learn more!
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
With climate change, there have been more heat waves. This lead me to thinking about our use of air conditioning and the cost associated with it. In this episode, I talk about how much energy and money is saved by setting the thermostat to a warmer temperature in the summer and cooler temperature in the winter. This could be done all the time, or only when no one is home. I go over the cost of air conditioning per hour and measures of efficiency for AC units. Of course, there are other ways to decrease energy used to heat and cool your home other than adjusting the thermostat.
I reference a few websites in this episode, including
https://smartenergy.com
https://www.energy.gov/energysaver/
https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
https://www.bls.gov/regions/midwest/data/averageenergyprices_selectedareas_table.htm
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Depending on your job situation, there’s a good chance that at some point, you may switch from a guaranteed salary to being paid based on your productivity. The productivity may be based on Revenue Value Units/RVUs or collections. Many people, and probably more so trainees looking at their first position post medical training, focus on the salary offered. If you plan on being at the job for more than 2 years, you’ll want to look ahead at what your compensation will be like and how it may change. In this episode, I talk about things to consider whether you’ve already started your job or are looking at new jobs.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Many people tend to think of Financial Independence as a static goal, achieving some magical number in net worth or passive income that means you don’t have to work for money anymore. However, many people will push the goal post once they achieve their number, feeling like they need more. I see financial independence more as a journey with different stages. In this week’s podcast episode, I’ll talk about four different levels of financial impendence. Survival FI, Coast FI, Traditional FI and FAT FIRE.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
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https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
You may have heard that the National Association of Relators was sued by a group of homeowners earlier this year and the outcome of the lawsuit was a settlement included a changes to relator compensation. Traditionally, when you sell a piece of property through a relator, the seller pays both the seller’s agent and the buyer’s agent anywhere between 4 and 7% of the sale price. The new rules will require buyers’ brokers to enter into written agreements with their buyers. It also prohibits disclosing the compensation for agents on the MLS. Brokers will also no longer be required to subscribe to the MLS. What will this actually mean for you and me when we go to buy or sell property? No one really knows yet but I brought Samantha Chin, a relator and my oldest friend, to speculate about what could happen once these rules go into effect.
If you’re looking for a real estate agent in the Cleveland area and would like to contact Samantha, her linked in profile is at https://www.linkedin.com/in/samanthachin/
You could also follow the Chin team on Facebook at https://www.facebook.com/ChinTeamHowardHanna/
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your
In the quest to build multiple income streams, is doing physician surveys something to consider? In this episode, I discuss my own experience with medical surveys as well as the experience of Dr. Rikki Racela, who wrote a blog article entitled “How I made $30,000 Taking Doctor Surveys” (You can read the blog article for yourself at https://www.whitecoatinvestor.com/how-i-made-30000-taking-doctor-surveys/) As suggested by the blog article, it is possible to make a five figure amount doing medical surveys, but it will depend on a few factors. Tune in to this week’s episode to learn more about what’s involved with doing medical surveys and what factors make it more likely that you may actually get a decent payout from doing them.
Incrowd Referral Link http://incrwd.me/r/5U2L
Webpages for referral links (listed in Alphabetical order)
Physician on Fire https://www.physicianonfire.com/medical-surveys/
Physician Side Gigs https://www.physiciansidegigs.com/medical-surveys
White Coat Investor https://www.whitecoatinvestor.com/surveys-for-money-best-companies-for-physician-online-surveys/
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
What do you actually know about the Social Security Program and what kind of benefits you may possibly receive from Social Security? If you are like me, not all that much. You may know that you pay taxes to Social Security and may think it’s unlikely you’ll get much payout or all those taxes that you have paid over your entire working life. I spent some time learning a lot more about social security and this episode is the fruits of that labor. Chances are, social security will provide some benefits during retirement, though it certainly will be far from enough to live on.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Employment contracts layout the terms of employment and generally layout the terms for what can cause termination of employment as well as any consequences that result from termination of employment. If you are considering leaving your current job for another job, then you will want to find your current employment contract and review what you previously agreed to. In this episode, I specifically talk about non-competes, how much notice is required when you plan to leave your job, and malpractice tail insurance.
I’ve helped multiple clients with career transitions and job changes. If you or anyone you know would benefit from working with a coach to help clarify your thoughts and directions regarding a job or career, I’d be happy to help. Sign up for a free consult at www.GrowYourWealthyMindset.com.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
If you, any of your family members, friends, or patients are taking a very expensive medication for which a coupon card or program is being used for assistance to pay for the medication, you will want to tune in to learn about the Co-Pay Accumulator Policy. Dr. Celine Lee, a rheumatologist practicing in the state of Utah, explains what the Co-Pay Accumulator Policy is and how it can significantly impact the finances of anyone taking an expensive medication.
If you would like to read more about the Co-Pay Accumulator Policy, Dr. Celine mentioned an article that can be found at https://www.crohnscolitisfoundation.org/patientsandcaregivers/managing-the-cost-of-ibd/copay-accumulator-maximizer-programs
Some states have banned copay accumulators. As of summer 2023, 19 states have banned copay accumulators: Arizona, Arkansas, Colorado, Connecticut, Delaware, Georgia, Illinois, Kentucky, Louisiana, Maine, New Mexico, New York, North Carolina, Oklahoma, Tennessee, Texas, Virginia, Washington, and West Virginia, as well as Puerto Rico.
If you live in a state that has NOT banned copay accumulators, be an advocate:
Contact your congressman
Contact your state's insurance department
Call your insurer to ask questions. Depending on what you learn, you may want to talk to your employer. Your employer might not be aware they signed up for this program or how it negatively affects their employees.
Dr. Celine Lee is a Rheumatologist practicing in the state of Utah. She is not an insurance expert in anyway. This podcast episode is for informational and entertainment purposes only. If you would like to find out more about Dr. Celine Lee or are looking for a rheumatologist in Murray, Utah, her website is https://lotusrheumatology.com/
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of he podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
Private lending offers possible stock like returns over a short term time horizon while being uncorrelated with the activity of the stock market. There is thought to be a higher level of risk compared to investments like CDs or government bonds, but these investments can be backed by hard assets like real estate, and thus lowering the risk. Sound intriguing? Listen to learn more!
In this episode, I mention the DLP Capital lending fund as an example. This is not meant to be investment advice and I get no compensation from DLP Capital. I have not personally invested with DLP Capital at the time of the creation of this podcast episode. I also mention Doc2Doc Lending, for which I do have a financial relationship and hold a small equity position (like holding stock) with Doc2Doc Lending.
You may know that there is a limit to monetary gifts you can give to anyone other than your spouse in a calendar year, currently $18,000 in 2024. While $18,000 in gifts is a generous some, what if you want to give more? This often happens with people who want to help their adult children, whether it’s to help them buy a home, chip in for a wedding, or any other reason. It can also happen when people are supporting their parents, sibling, or another family member. This episode talks about how the $18,000 limit is not actually and issue and how you can be as generous as you desire.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
When you have a long investing horizon of 5 years or more, there are many options for investments with potentially high returns.
What about when you have a shorter time horizon? They may be saving for a downpayment on a house to purchase in the next 2-3 years or for a specific dream vacation. Or it may be money that you are setting aside for the next real estate investment. In this case, the primary goal is to preserve capital with growth a secondary goal. There’s also the goal decreasing how much inflation my decrease spending power. Accessibility and liquidly is also a consideration.
In this episode, I discussed High Yield Savings Accounts, Money market accounts/funds, Certificates of Deposits, and US Government bonds (T-bills, T-notes and I-bonds).
If you would like a referral to get a bonus on your interst rate at Wealthfront, my referral link is https://www.wealthfront.com/c/affiliates/invited/AFFC-3KZP-5R22-FQUV
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Depending on where you work, you may have the ability to invest in a 457 plan. 457 plans are another type of retirement account where money can grow tax free similar to a 401K or 403B but there are some important differences compared to 401Ks and 403Bs. Depending on your employer, it may not be a good idea to invest within their 457 plan. Generally, if you work for a government employer, like a county hospital, then you’re safe investing in a 457 plan. If you work for a community hospital, you’ll need to be very confident in the hospital’s financial situation before contributing to a 457 plan. This episode discusses the nuances of 457 plans and how they different from other retirement accounts.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
If you've been listening to business or financial news, you may be hearing the term Stagflation. Stagflation is the combination of stagnation and inflation describing a period of low growth with high inflation. There are concerns that we are headed towards stagflation. What does that mean and what can you do to protect yourself? Tune in to learn more.
Inflation rates stated in the episode are from https://www.usinflationcalculator.com/inflation/historical-inflation-rates/
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Shanika Esparaz, MD is a medical retina specialist with board certifications in both ophthalmology and lifestyle medicine. In this episode, we talk about how starting a direct specialty practice and developing that entrepreneurial mindset as well as the finances behind starting a practice.
You can find Dr. Shanika at
Instagram link: https://www.instagram.com/shani_esparazmd/
Wellness website for women in healthcare: https://envisionyourwellness.mykajabi.com
Practice link: http://www.envisioncle.com
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Wow, what a milestone! 100 episodes of The Grow Your Wealthy Mindset Podcast!
If you have listened to all 100 episodes, you have hopefully learned a lot about personal finances and investing. Learning is a great first step, but you need to take action to create your version of a wealthy life.
What does it really mean to be wealthy? It’s a topic I explored early on in Episode 6. After attending a recent talk given by Peter Kim, also known as Passive Income MD, I thought it was a great topic to bring back for the 100th episode.
I start this episode by reviewing Stewart Butterman, one of the co-founders of Slack, definition of wealthy
Level 1. I’m not stressed out about debt. People who no longer worry about their credit card bills or their student loans.
Level 2. I don’t care what stuff costs in restaurants: It doesn’t really matter how much you spend on a particular meal.
Level 3. “I don’t care what a vacation cost, I don’t care how expensive the hotel is or how much the flight costs.” “Beyond that, I don’t really think it makes any difference.”
Next up is Morgan Housel’s definition of wealth which he wrote about in The Psychology of Money. “The highest form of wealth is the ability to wake up every morning and say “I can do whatever I want today””
And how does Peter Kim define wealth? “Wealth is the difference between get to and have to.”
Tune in for an episode to hopefully stretch your mind on what it means to be wealthy.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
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Pension plans and defined benefits plans are becoming more scarce and 401(k) and 403(b) and other types of defined contribution plans have become the norm. In this episode, I start with a brief summary of the history behind funding retirement before I dive deeper into the most common type of retirement plans currently available to W-2 employees. There’s a good chance that you may have one, or multiple, of these accounts, so it’s a good idea to learn how to make them best work for you. Tune in to learn more about the benefits of contributing to these accounts, how you can tap into these accounts if you need money earlier than retirement and what to do when you leave or change jobs.
Here are two links mentioned in the episode that may be helpful:
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-hardship-distributions
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Artificial Intelligence is getting better and better. What does that mean for robo-advisors, or using programing and technology instead of a human financial advisor? Wealthfront and Betterment were the first two large platforms to offer robo-advisors services. Now Vanguard, Fidelity, and Charles Schwab are offering robo-advisor services. This episode explores robo-advisors to help you decide if that’s something you would like to explore.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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Facebook https://www.facebook.com/ElisaChiang
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I-bonds purchased between Nov 1, 2023 and April 30, 2023 have a fixed interest rate of 1.3%, the highest fixed rate in 15 years. Combined with the inflation rate, they are paying 5.27%. If you've ever been interested in buying I-bonds, now is the time.
If you don't particually want more I-bonds in your portfolio but you have I-bonds previously purchased at a lower fixed interest rate, you may consider cashing those out and buying the current I-bonds.
Individuals are limited to buying $10K of I-bonds annually. There is a way to get more I-bonds at the current 1.3% fixed rate by having someone else purchase gift I-bonds for you. This is perfect for married couples, who can buy gifts of I-bonds for each other. In this episode, I discuss how gifting I-bonds works and how this can be used to load up on the current I-bonds available.
The IRS has a video to guide you how to purchase I-bonds as a gift on their website https://treasurydirect.gov/indiv/tools-videos/purchase-gift-bonds/
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
How did Mitt Romney amass $20-100 Million in his IRA? In this episode, I introduce self-directed retirement accounts, what they are and what they are used for.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
This week’s episode is a really personal one where I share how recently, a lot of money scarcity has been coming up in my life and how I’ve been working through it.
Its really a raw episode, me talking while I'm in the thick of it, with minimal editing. (mostly to take out long pauses)
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
There are those who believe that investing in the United States stock market is all the diversification you need for your stock portfolio. Some even limit themselves to the S&P 500 Index fund while other go with the total US stock market. This week’s episode talks about adding international stock exposure to your portfolio.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
In this episode, I review updates with filing taxes for 2023 as well as discussing different tools and help offered by the IRS to get your taxes done.
The standard deduction for 2023 is $13,850 for single or married filing separately and $27,700 for a married couple filing jointly.
To create an account to pay your taxes online or set up a payment plan, go to https://www.irs.gov/payments/your-online-account
To find out the status of your tax refund, head to https://www.irs.gov/wheres-my-refund
You can get help filing your taxes in person or by telephone. To locate an office near you, go to https://www.irs.gov/help/contact-your-local-irs-office
For phone numbers and other online information, head to https://www.irs.gov/help/let-us-help-you
For individual tax returns, call 1-800-829-1040. If you need help for filing for your business the number is 1-800-829-4933.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
This is a follow-up episode from last week, so if you haven't listened to Episode 91: Choosing Between Traditional or Roth Retirement Accounts, I would encourage you to do that first. Last week I centered the discussion around marginal tax rates. This week, I review factors like age and timelines as well as planning if you want to leave your retirement accounts to your heirs or charity.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
More employers are offering the choice between a Traditional 401K or 403B and a Roth 401K or 403B. How do you choose which one is best for you? Unlike with the choice for which IRA to use (the backdoor Roth IRA is the clear winner for physicians), deciding between for 401Ks or 403Bs involve more thought. The hardest part of making the decision is predicting your marginal tax rate when you are withdrawing from your retirement account. Tune in to this week’s episode to learn more.
If you would like to see historical tax rates at different tax brackets, you can find that information at https://taxfoundation.org/data/all/federal/historical-income-tax-rates-brackets/
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Our society is increasingly become cashless and most of use rarely use actual money. We have money electronically transferred in and out of our bank accounts. So what does this mean for banking and how can you optimize your banking? Tune in to learn more.
If you have ever thought of being an entrepreneur, then you definitely want to attend the Leverage and Growth Summit from February 26 to March 1, 2024.
Registration is now open and free! The VIP All-Access pass is $97 thru February 25, 2024. it goes up to $197 during the conference and $297 after the conference ends.
Please consider registering with my affiliate link, https://passiveincomemd.com/LGS2024-Elisa-Chang
If you do buy a VIP pass, I will receive a commission which supports The Grow Your Wealthy Mindset Podcast. There is no change in the cost to you.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
If you invest in real estate syndications, you may have gotten notice about a capital call. Capital calls for real estate syndications have been on the rise in the last year. This week’s episode discusses possible causes for the increase in capital calls.
Registration is now open for the Leverage and Growth Summit, which will be February 26 to March 1, 2024. VIP All-Access pass is $97 thru February 25, 2024. it goes up to $197 during the conference and $297 after the conference ends.
Please consider registering with my affiliate link, https://passiveincomemd.com/LGS2024-Elisa-Chang . If you do buy a VIP pass, I will receive a commission which supports The Grow Your Wealthy Mindset Podcast. There is no change in the cost to you.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Dr. Liz Aguirre is a remarkable women. She grew up in poverty without reliable access to food or shelter and is now a mom, wife, and a physician with passion for person-centered health. We talk about how she grew her wealthy mindset and how coaching has assisted that journey. I am so lucky to have great clients like Dr. Liz.
You can find Liz Aguire at:
https://www.lizaguirremd.com/
https://www.facebook.com/DrLizAguirre
Watch Liz’s TEDx Talks:
End Professional Burnout: Become More Energized and Less Stressed https://youtu.be/Mo9DS6kBDyY
Why the Secret to Fulfillment is Imagination https://youtu.be/_D9zcEOheqc
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
The Corporate Transparency Act, which was passed as part of the National Defense Authorization Act for Fiscal Year 2021, introduced new reporting requirements for businesses in the United States, specifically focusing on beneficial ownership. This episode details who needs to file a Beneficial Owner Information Report, what information is collected, as well as how to file. I go into detail who is considered a beneficial owner as described by FinCEN. Penalties for not filing as well as how the information will be stored and who it will be shared with is also discussed.
If you have an LLC, even a single member LLC disregarded for tax purposes, you likely still need to file a Beneficial Owner Information Report.
To file your Beneficial Owner Information Report, go to https://www.fincen.gov/boi
Learn more about the requirements for filing at https://www.fincen.gov/boi-faqs#B_1
If you have ever thought of being an entrepreneur, then you definitely want to attend the Leverage and Growth Summit from February 26 to March 1, 2024.
Registration is now open and free! The VIP All-Access pass is $97 thru February 25, 2024. it goes up to $197 during the conference and $297 after the conference ends.
Please consider registering with my affiliate link, https://passiveincomemd.com/LGS2024-Elisa-Chang . If you do buy a VIP pass, I will receive a commission which supports The Grow Your Wealthy Mindset Podcast. There is no change in the cost to you.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Many people set goals or New Year resolutions around this time for the year ahead, and then never look at those goals again. In this episode, I talk about my thoughts and approach to goal setting as well as some goals I set over a decade ago that I recently accomplished.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Treasuries are considered one of the safest investments out there as they are backed by the full faith and credit of the US government. They can be directly purchased at TreasuryDirect.gov as well as bought and sold on the secondary market. Yet Treasuries are often overlooked by the individual investor compared to CDs (certificate of deposits). This episode discusses the three main types of Treasuries, T-bonds, T-bills, and T-notes.
Elisa will be speaking at WCICON24 in Orlando, Florida, on the subject of bonds. If you are attending the conference, please come and say hello!
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
A lot of physicians, including Elisa, love to travel. Dr. Weili (pronunced "Way Lee") Gray, host of the Dare to Dream Physician Travel Podcast talks about her journey from burnout to life planning to traveling around the world while still enjoying working as a physician. A pivoting point in Weili’s life was when she volunteered at a conference for financial advisors for a life planning session.
In this episode, Weili mentions the three questions of life planning. Elisa made a YouTube video on the three questions of life planning which you can find on her YouTube channel at https://www.youtube.com/c/wealthymindsetmd (the precursor to The Grow Your Wealthy Mindset Podcast), the direct link to the Kinder questions https://www.youtube.com/watch?v=zFEqA6sU5OY&t=4s
George Kinder’s Three Questions:
Question 1: Design Your Life
I want you to imagine that you are financially secure, that you have enough money to take care of your needs, now and in the future. The question is, how would you live your life? What would you do with the money? Would you change anything? Let yourself go. Don’t hold back your dreams. Describe a life that is complete, that is richly yours.
Question 2: You Have Less Time
This time, you visit your doctor who tells you that you have five to ten years left to live. The good part is that you won’t ever feel sick. The bad news is that you will have no notice of the moment of your death. What will you do in the time you have remaining to live? Will you change your life, and how will you do it?
Question 3: Today’s the Day
This time, your doctor shocks you with the news that you have only one day left to live. Notice what feelings arise as you confront your very real mortality. Ask yourself: What dreams will be left unfulfilled? What do I wish I had finished or had been? What do I wish I had done? [Did I miss anything]?
Dr. Gray founded Dare to Dream Physician, a mission-driven endeavor empowering fellow doctors to dream big and embrace life through travel. She's all about boosting physician wellness and shares her wisdom on stages and her inspirational weekly podcast called "Dare to Dream Physician Travel."
You can find Dr. Weili Grey at:
Dare to Dream Physicianhttps://daretodreamphysician.com
@DreamPhysician on Instagramhttps://www.instagram.com/dreamphysician/LinkedInhttps://www.linkedin.com/in/weili-gray-md/
Dare to Dream Physician Travel Facebook Community (for Physicians):
https://www.facebook.com/groups/878895016552178/
Dare to Dream Physician Travel Podcast
https://daretodreamphysician.buzzsprout.com/
Depending on background and circumstances, building a strong credit score may have come naturally or more be more difficult. It can certainly be more difficult to those who come to the United States, especially from countries that don’t use a lot of credit. In this episode, I discuss what goes into determining credit scores and how anyone can build up their credit score.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
During this time of year, there are some people who do a lot of spending. While physicians tend to be considered good credit risks, there are some physicians who find themselves with credit card or consumer debt. While student loan debt doesn’t generally carry a feeling of shame, credit card debt can which means it may not be talked about. This episode is for anyone who has found themselves with credit card debt that they are unable to pay off.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
I tend to space out episodes with guests but this week, I’m breaking that trend. This episode was created spontaneously after Nathan and I started having a conversation that seemed like it would be relevant for the podcast. We’ve been married for 23 years, and together for 26 years so it’s a lot of time to reflect on.
I’m really curious to get your feedback on this episode. Did you enjoy it? Would you like more episodes like this one? If so, what topics would you want for us to discuss?
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Elaine Stageberg, MD is a trained psychiatrist, who alongside her husband Nick, built a real estate empire valued at over $330M. Elaine and Nick founded Black Swan Real Estate where they started with single family homes and have since expanded to much larger projects. None of this was handed down to them by their families. Tune in to learn more about how Elaine grew her wealthy mindset, from being emancipated at age 16 to where she is today.
You can learn more about Black Swan Real Estate at http://meetblackswan.com/
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
You’ve probably heard about hedge funds but you probably don’t know much about them. Honestly, I don’t know a whole lot about them either, I’ve never invested in a hedge fund personally. In the recent episode on diversification, I talked about a study by JP Morgan that came out this year showing that adding alternative investments to a traditional stock and bond portfolio increased returns while decreasing volatility. The alternative investing strategies they used in the study consisted of real estate, private equity, and hedge funds. I do invest in real estate and private equity so I thought I should look a little more into hedge funds.
So if you’ve been curious about what consists of a hedge fund, and how it’s different from a traditional mutual fund or exchange traded fund, this episode is for you.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Most people don’t look forward to spending time paying bills, tracking spending, or reviewing their personal finances. While some people enjoy the investing part, I would say even those people have something else they would prefer doing, meeting up with friends for dinner, watching a good movie, reading a good book, etc.
Setting up systems and automating your finances can decrease the time you spend on personal finance and investing as well as potentially get you to your goal more easily. Tune in to learn more!
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
This question gets asked a lot. People generally lament that it’s too late to invest in real estate, that they missed the good opportunity X number of years ago. The funny thing is that people continue to say that, and yet most people wish they actually got started when they first started thinking of it, except maybe if they started thinking of it in 2006 or 2007.
The truth is, the real estate market is an inefficient market. At any given time period, there are deals to be found and money to be made. Sometimes there are more deals and sometimes you have to look harder to find deals, or train your brain to see the deals that you didn’t see before.
In this episode, I talk about the different ways to get returns with real estate investing to help you train your brain to look for deals.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
When it comes to investing, diversification is the key to increasing returns while reducing risks. Tune in to learn more about diversification, including diversifying beyond the traditional assets of stocks and bonds.
You can find the report discussed in this podcast episode at https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/insights/portfolio-insights/know-your-alternatives.pdf
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Two years ago, I was a guest on the Dare to Dream Podcast hosted by Dr. Weili Gray. Dr. Weili is a gifted interviewer and I love the conversation which become three podcast episodes. This is the second of a three-part series bringing you the episodes from the Dare to Dream Podcast. In this episode, we continue our conversation about money and how to have an abundant mindset towards money.
Dare to Dream Physician Resources:
Dare to Dream Physician, Life Planning for Physicians https://daretodreamphysician.com
Dare to Dream Physician on Facebook https://www.facebook.com/daretodreamphysician/
@DreamPhysician on Instagram https://www.instagram.com/dreamphysician/
The Dare to Dream Podcast has pivoted and is now the Dare to Dream Travel Podcast. You can find the podcast at https://daretodreamphysician.buzzsprout.com/ or on multiple podcast apps.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Two years ago, I was a guest on the Dare to Dream Podcast hosted by Dr. Weili Gray. Dr. Weili is a gifted interviewer and I love the conversation which become three podcast episodes. This is the second of a three-part series bringing you the episodes from the Dare to Dream Podcast. In this episode, we talk about the subject of money including how even talking about money is thought of as taboo.
Dare to Dream Physician Resources:
Dare to Dream Physician, Life Planning for Physicians https://daretodreamphysician.com
Dare to Dream Physician on Facebook https://www.facebook.com/daretodreamphysician/
@DreamPhysician on Instagram https://www.instagram.com/dreamphysician/
The Dare to Dream Podcast has pivoted and is now the Dare to Dream Travel Podcast. You can find the podcast at https://daretodreamphysician.buzzsprout.com/ or on multiple podcast apps.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Two years ago, I was a guest on the Dare to Dream Podcast hosted by Dr. Weili Gray. Dr. Weili is a gifted interviewer and I love the conversation which become three podcast episodes. This is the first of a three-part series bringing you the episodes from the Dare to Dream Podcast. In this episode, we talk about how I first came into coaching and how coaching allowed me to change my mindset about the job I was at before making decisions of how I wanted to move my life forward.
Dare to Dream Physician Resources:
Dare to Dream Physician, Life Planning for Physicians https://daretodreamphysician.com
Dare to Dream Physician on Facebook https://www.facebook.com/daretodreamphysician/
@DreamPhysician on Instagram https://www.instagram.com/dreamphysician/
The Dare to Dream Podcast has pivoted and is now the Dare to Dream Travel Podcast. You can find the podcast at https://daretodreamphysician.buzzsprout.com/ or on multiple podcast apps.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Dr. Kristi Klee is a physician and a mom of four who set a goal to get to financial freedom in as few door as possible so that she could practice medicine, raise her kids, and live life on her own terms. She was able to reach the goal of financial freedom with one short term rental. Her second short term rental replaced her clinical income. Tune in to listen to how she made reached her goal and how she now helps others reach their goals through investing in short term rentals.
You can learn more about Kristi at her website, https://www.rocketyourrental.com
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
"The Millionaire Next Door" by Thomas J. Stanley and William D. Danko is a book that examines the habits and characteristics of wealthy individuals in the United States. The authors conducted extensive research and surveys to identify common traits among millionaires and prodigious accumulators of wealth (PAWs). The book challenges common stereotypes about millionaires and suggests that many of them live modest lifestyles, are frugal, and avoid conspicuous consumption. It introduces the concept of "UAWs" (Under Accumulators of Wealth) who have high incomes but fail to accumulate significant wealth due to overspending and poor financial habits.
What can physicians take away from the lessons in “The Millionaire Next Door”? Tune in to learn more.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Do you tend to worry about money?
Do you feel insecure when it comes to money?
Tune in to learn how to address those worries and insecurity.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
This episode gives an overview to Estate Planning.
Tune in to hear about:
Wills
Trusts
Health Care Proxy
Durable Power of Attorney
Estate tax
Inheritance tax
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
If you could increase your physician income without working more hours or seeing more patients, or otherwise adding more day-to-day hassle, that’s something you’d probably say yes too. More money and more income is a “preferred neutral” meaning all else being equal, its better to have more money or more income.
What can you do to increase your physician income? You’ll want to check out this episode to find out!
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
In Western Culture, we typically think that marriage is for love. The truth is, whom you choose to marry is one of the biggest financial decisions you will make. Before tying the knot, consider really discussing your thoughts about money with your future spouse. If you’re already married, it’s not too late to open up that conversation.
When it comes to divorce and the splitting of assets, divorce seems like it’s a decision that is partially based on finances. Tune in to hear why I think finances should play less of a role on deciding to get divorced.
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If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Have you ever wondered about the origins of tipping and how the culture of tipping evolved? If so, this episode is for you. I’ve personally never been a fan of tipping. From trying to figure out what is a good tip, to making sure to have small bills (and sometimes large ones) and then having to keep cash on hand, there’s a lot to think about around tipping. The only time I have enjoyed tipping is when giving something to someone who didn’t expect anything at all, and saw it as a blessing to receive it. In this episode, I go a bit into the history of tipping, how it creates inequity, the movement to move away from tipping, but how tipping is unlikely to go away in the U.S.
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If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Dr. Kristine Goins is a board-certified integrative adult & pediatric psychiatrist, physician coach and world traveler. Prior to pursuing a lifestyle of freedom and adventure by becoming a digital nomad, Dr. Goins graduated from Rutgers-Robert Wood Johnson Medical School, completed her adult psychiatry residency at Emory University and her child & adolescent psychiatry fellowship at Yale. Passionate about approaches to healing outside of conventional practice, she also completed an integrative medicine fellowship at The Andrew Weil Center for Integrative Medicine. Having served in several healthcare settings and various leadership positions within academic centers, Dr. Goins has witnessed firsthand the impact that burnout, stress, and work-life imbalance can have on physicians’ lives. Motivated by a desire to make a difference, Dr. Goins founded Nomad MD, where she empowers doctors to break the chains of traditional medicine to achieve location freedom & create their ideal nomadic lifestyle.
Website/Blog: thenomadmd.com
IG: @thenomadmds
FB: @thenomadmd
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Tax lost harvesting is an investment strategy that involves selling an asset at a loss to offset gains in other areas of your portfolio to decrease the amount of tax paid. Tune in to learn more about how to use the Tax Lost Harvesting to decrease taxes.
I want to hear about your money wins! No matter how big or small! Celebrating wins is a way to keep moving forward and we often overlook our small wins. Email your wins to GrowYourWealthyMindset at gmail.com to be entered in a drawing for a $100 Amazon Gift Card! Please use “Win” for the subject heading and send one win per email. If you send multiple emails, each with a different win, you’ll get entries for each win submitted. Drawing will be on Labor Day.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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Facebook https://www.facebook.com/ElisaChiang
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
This podcast came at the suggestion of someone who asked for a podcast to know when she is having a scarcity mindset or is being frugal. I discuss a scarcity mindset around money, which can lead to being cheap and then talk about being cheap vs. being frugal.
I want to hear about your money wins! No matter how big or small! Celebrating wins is a way to keep moving forward and we often overlook our small wins. Email your wins to GrowYourWealthyMindset at gmail.com to be entered in a drawing for a $100 Amazon Gift Card! Please use “Win” for the subject heading and send one win per email. If you send multiple emails, each with a different win, you’ll get entries for each win submitted. Drawing will be on Labor Day.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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Facebook https://www.facebook.com/ElisaChiang
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
I’ve been thinking a long time on how to make an episode on talking to children about money. Since I don’t have any kids, I stay away from giving parental advice. Instead, I thought I’d talk about my memories from experiences from when I was a kid and the impact it has had on me today.
I want to hear about your money wins! No matter how big or small! Celebrating wins is a way to keep moving forward and we often overlook our small wins. Email your wins to GrowYourWealthyMindset at gmail.com to be entered in a drawing for a $100 Amazon Gift Card! Please use “Win” for the subject heading and send one win per email. If you send multiple emails, each with a different win, you’ll get entries for each win submitted. Drawing will be on Labor day.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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Facebook https://www.facebook.com/ElisaChiang
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
There is no truly safe investment. Investments are all about waying risks vs returns. Keeping money in a FDIC insured savings account may seem safe, if you consider slowly losing money over time as being safe. Tune in to hear more about what to consider when choosing your investments.
I want to hear about your money wins! No matter how big or small! Celebrating wins is a way to keep moving forward and we often overlook our small wins. Email your wins to GrowYourWealthyMindset at gmail.com to be entered in a drawing for a $100 Amazon Gift Card! Please use “Win” for the subject heading and send one win per email. If you send multiple emails, each with a different win, you’ll get entries for each win submitted. Drawing will be on Labor day.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Join in on the conversation between myself and Dr Johanna Moore on redefining success. Johanna is a mom of twins, Harvard trained physician scientist, life and business coach, the founder of She is Money, and podcast host for the Your Version of Success Podcast. Her membership, the So Money Society, is the place where successful women create more time, money and energy to enjoy the lives they’ve worked so hard to achieve. In the Society, ambitious women gain clarity on what they really want, and get coached on the financial and life goals they achieve in alignment with that life.
You can find out more about Dr. Moore at
Www.sheismoney.com
www.instagram.com/sheismoney.llc
Your Version of Success Podcast https://sheismoney.mykajabi.com/podcasts/your-version-of-success
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
1031 Exchanges, also known as Like-Kind Exchanges, allows you to continue to defer paying taxes with real estate investing. There are a lot of rules involved in doing a 1031 Exchange but if done correctly, you could defer taxes on real estate investments until you die, and allow your heirs to inherit real estate with a step up in basis so that those taxes are never paid. It is yet another reason why real estate is a powerful tool to build generational wealth.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Real Estate Investing is a poplar way to diversify from traditional stock and bond investing. Some people are so pro real estate investing, that it makes up the vast majority, if not all, of their portfolio. Like any investment, there are advantages and disadvantages. In this episode, I go more into what those are for real estate investing.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
I had the privilege of meeting Elizabeth Gilbert, who is best known as the author of Eat, Pray, Love. She has another wonderful book called Big Magic. In preparation for meeting Liz Gilbert, I also read (well, listened to the audio books) her novels, City of Girls and The Signature of All Things.
She led a workshop with around 60 women physicians. This episode reflects some of what I learned that day.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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Facebook https://www.facebook.com/ElisaChiang
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
On this week’s episode, I have guest Dr. Sarah Neitzel who is a podiatrist that runs her own practice as well as a medspa. We talk about investing in your own clinical practice, the questions Sarah asks before she makes a purchase and how she determines if it’s a smart investment.
You can find Dr. Sarah Neitzel on Instagram @Dr.Sarah
Website is Www.visionarypracticesolutions.com
Email: drsarahvps@gmail.com
Do you love to travel? If you do, check out my new course and coaching program, Travel Planing Made Simple Beta. It's open to the first 20 people to sign up and this is a very limited time offer. For details, go to https://growyourwealthymindset.mykajabi.com/travel-made-simple
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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Linked In: www.linkedin.com/in/ElisaChiang
Physicians are no strangers to being entrepreneurs. Many physicians have started their own private practices, or purchased a private practice and made it their own. Other physicians have started other businesses, some related to clinical medicine while others have nothing to do with medicine. In recent years, there has been more physicians who are abandoning entrepreneurship to work for somebody else. While there are some employed doctors who may have an income of $1M, entrepreneurship is the way to create income of multiple millions. Today’s episode talks about the Employee Mindset vs. the Entrepreneurial Mindset.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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The cost of tutition for higher education has risen significantly in the past few decades, well above that rate of inflation. 529 plans are sponsored by states, state agencies, or educational institutions and are a way to help people save and invest for future educational expenses. Different plans give different benefits, depending on the plan and the state you live in. This podcast looks at the basics of 529 plans.
Of the many websites I looked at, I found https://www.savingforcollege.com/ to be a helpful website. It is owned by VentureKite, which appears to be a private for-profit business. Savingforcollege.com states they provide “unbiased information to assist families in meeting the rising costs of education.”
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Dr. Mamta Kumar is Integrative medicine physician turned Land Investor for the last 3 years. In this episode, we talk about what got her started with land investing, what’s involved, and how she’s grown it into a full real estate business. She helps educate other physicians on land investing her Facebook group "Financial freedom with land investing for physicians with land investing" and has a 12 week group program for physicians on Land Investing.
Please subscribe and leave a review on your favorite Podcasting platform.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Just like the world of medicine has its own language, the world of finance and investing also has its own language. This is why when you first starting developing your financial literacy, everything seems complicated. By learning the meaning of different terms, everything starts to make more sense. In this episode, I go over various financial terms you’ll encounter when you look at different investments.
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: https://www.GrowYourWealthyMindset.com
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Linked In: www.linkedin.com/in/ElisaChiang
Wow, we're up to episode 50! Thank you to all the listners who have shared the podcast and listen regularly. For this 50th episode, I thought I would get back to basics and talking about the fundamentals of building wealth, which is acquiring assets.
If you haven't left a review, I would really appreciate if you would write one today!
If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
Website: https://www.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
This week, listen in on a conversation that Karen Leitner and I had on what mindset really means and how it influences our lives. It’s a candid conversation between two coaches with a focus on money mindset and topics like negotiation, the gender wage gap, and reframing failure.
Karen Leitner is a primary care physician and an experienced life coach. She helps women physicians feel better and happier in their lives by empowering them to overcome work-life overwhelm, imposter syndrome, parenting challenges, and all the other joykills so common to women physicians (and so rarely talked about…until now).
You can find her on:
www.karenleitnermd.com
https://www.facebook.com/groups/howtofeelbetterforwomenphysicians
https://www.instagram.com/karenleitnermd/
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Buying a home, or a primary residence, has long been part of the American Dream. As physicians, we often move a lot for our training and some of us look forward to the day were we can buy that big, beautiful house to call home. When is it actually smart to buy that house and how do we know how much to spend on it? Tune in to this week’s episode to find out!
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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Linked In: www.linkedin.com/in/ElisaChiang
Dr Latifat is a Gastroenterologist and founder of The Money Coaching School for Badass Women Physicians. She is also the host of The MoneyFitMD podcast. She combines her interest in personal finance, her training as a certified life coach, and her passion for physician wellness. She believes every physician can create their own wealthy life. Her mission is to equip every physician with the tools they need to be financially liberated to live well, fully, and without burning out. She is the author of, “Done With Broke: A Woman Physicians Guide to More Money and Less Hustle” available for purchase May 2, 2023.
Email: Moneyfitmd@gmail.com
Website: MoneyfitMD
Facebook: MoneyfitMD | Facebook
Instagram: Latifat Akintade. MD. GI (@moneyfitmd) • Instagram photos and videos
Podcast: MONEYFITMD PODCAST on Apple Podcasts
Youtube: MoneyFITMD – YouTube
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
In this episode, I discussed what is an Accredited Investor and what opportunities are available to people who qualified ans an Accredited Investor. I also dicussed Qualified Client and Qualified Purchaser. Welcome to the world of expanded investment opportunities!
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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Linked In: www.linkedin.com/in/ElisaChiang
Burnout has been reported to affect 40-60+% of US physicians. Last year, 10% of physicians left the practice of medicine, a number far higher than what would be expected for “normal retirement.” Burnout is likely one of the causes for physicians leaving medicine, making it a threat to building our wealth. (unless they left after having built their wealth but I suspect many were not at that point)
Talbot and Dean argued that physicians aren’t burning out, they are facing moral injury.
In this episode, I talk about the terms of burnout and moral injury, the historical context of when those terms started to apply to those in healthcare, as well as the signs and symptoms.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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Linked In: www.linkedin.com/in/ElisaChiang
This week, we have the amazing Kate Mangona, MD as a guest on the podcast. Kate is a pediatric radiologist as well as a Marriage coach. Tune in to our conversation on money and marriage.
You can find more about Kate at:
Website: https://www.medicinemarriageandmoney.com/
Podcast: https://podcasts.apple.com/us/podcast/medicine-marriage-money-with-dr-kate-mangona/id1526737149
Facebook: https://www.facebook.com/katemangonamd
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
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What caused the 16th largest bank in the United States to collapse in March 2023 and what does this mean about the US banking system? And what does it mean for you? Listen to find out!
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You can learn more about Elisa at her website or follow her on social media.
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Linked In: www.linkedin.com/in/ElisaChiang
I recently returned from WCICON23, short for the White Coat Investor Conference, where I gave a talk on Transforming from Burning Out to Burning Brightly
This podcast highlights points from the Keynote given by Stacy Taniguchi, PhD titled Choose to Thrive. I go over points made in the talk, though I left out the wonderful stories Stacy shared. If you want to hear the original talk, you can purchase access through The White Coat Investor.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
Do you know what's really stopping you from having what you want?
Its most likely your limiting beliefs.
What's a limiting belief? Listen to the podcast to find out!
The Leverage and Growth Virtual Summit registration is open! The summit is on March 15-19, 2023
Summit Pricing:
Free registration (access to videos for ~24 hours)
Paid VIP All-Access Pass upgrade pricing is as follows:
$97 thru March 14, 2023 (before conference)
$197 on March 15 - 19, 2023 (during conference)
$297 beginning on March 20 (after conference)
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You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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If you have an amount of money to invest into your index funds, what's the best way to do it? Do you invest it all at once, called lump sum investing, or do you spread it out over time, called dollar cost averaging? In this episode, I discuss both investment strategies.
The Leverage and Growth Virtual Summit is returning! Registration opens on March 1, 2023 and the summit itself will be March 15-19, 2023:
Summit Pricing:
Free registration
Paid VIP All-Access Pass upgrade pricing is as follows:
$97 thru March 14, 2023 (before conference)
$197 on March 15 - 19, 2023 (during conference)
$297 beginning on March 20 (after conference)
Register at https://passiveincomemd.com/LGS2023-Elisa-Chang
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You can learn more about Elisa at her website or follow her on social media.
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In this episode, I reflect on what I have come to realize was a life changing event for me that changed the trajectory of my life.
That life changing event was the first Leverage & Growth Virtual Summit that was held in May 2020. It came during a life changing year, the pandemic, and arguably its inception was due to the pandemic.
The Leverage and Growth Virtual Summit is returning! Registration opens on March 1, 2023 and the summit itself will be March 15-19, 2023:
Summit Pricing:
- Free registration
- Paid VIP All-Access Pass upgrade pricing is as follows:
$97 thru March 14, 2023 (before conference)
$197 on March 15 - 19, 2023 (during conference)
$297 beginning on March 20 (after conference)
Register at https://passiveincomemd.com/LGS2023-Elisa-Chang
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
There’s still time for you to do a Backdoor Roth IRA for 2022! In this episode, I discuss the IRA, or individual retirement account, in more detail. There is the Traditional IRA and the Roth IRA. The Backdoor Roth IRA is a strategy to help high income earners contribute to a Roth IRA since there are income limits for directly contributing to a Roth IRA. Many high Income earners can’t tax deduct contributions to a traditional IRA so the Backdoor Roth IRA strategy is helps be more tax efficient with investing for retirement.
https://www.irs.gov/publications/p590b#en_US_2020_publink1000230955
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Asset allocation is one of the most important decisions when it comes to investing. It will determine your overall return on your investment as well as the fluctuations in the value of your investment portfolio. It can be the difference between reaching your financial goals or being caught short when the time comes. In this episode, I give multiple examples of asset allocation for the goal of long-term growth, generally for retirement. I also talk about asset classes beyond stocks and bonds and how to invest in them.
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Target Date Funds have been touted as the one fund you need for retirement. Pick the year you want to retire, choose the Target Date Retirement with that year, and you’re all set. Is it really that simple? What does a Target Date Fund actually do? Are there better investing options? Listen to this episode for those answers and more.
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You can learn more about Elisa at her website or follow her on social media.
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Dr. Linda Street is the Founder & CEO of Simply Street MD Negotiation Coaching where she helps female physicians negotiate for the salary they deserve.
Women physicians earn up to 30% less than male physicians in similar positions. Studies show the gender pay gap is independent of women working part time, taking maternity leave, or any other factors. By earning less, it makes it even harder for women to build their wealth, which is why I’m so excited to have Dr. Street here to talk about how women physicians can negotiate for better compensation.
Your can learn more about Dr. Street at her website: https://Simplystreetmd.com
I also recommend checking out her Podcast “Simply Worth it: Physician Negotiations” https://podcasts.apple.com/us/podcast/simply-worth-it-physician-negotiations/id1548597809
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Episode 34: Certificates of Deposits
Stocks are a great investment for people with long term horizons but what to do with money that’s ear marked for something with a short time horizon? There are High Yield Saving Bang Accounts (high yield meaning they pay better interest than average), Money Market Accounts, short term US treasury bonds, or the topic if this week’s episodes, Certificates of Deposits, often abbreviated as CDs. Listen to learn more about CD’s as well as building a CD ladder.
And don't forget to pick up your copy of Made for More: Physician Entrepreneurs Who Live Life and Practice Medicine on Their Own available at smile.Amazon.com
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For instant diversification in the stock market, buying a index fund is a good way to go. Index funds come in two different flavors, as traditional mutual funds as well as exchange traded funds. In this episode, I go into the pros and cons of each type of fund to help you decide what is best for your situation.
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You can learn more about Elisa at her website or follow her on social media.
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We start the new year with this information about student loan forgiveness. Many physicians have 6 figures of student loan debt. The burden of student loan debt has been increasing. It’s not uncommon to have more than $200,000 or even $300,000 of student loan debt. For some people, Public Service Loan Forgiveness may be a solution.
This week, I interview Megan McGuire who is a Certified Student Loan Planner and Senior Student Loan Advisor at Student Loan Planner.
You can find out more information about Student Loan Planner at https://www.studentloanplanner.com/
Other resources for student loan planning advice include:
https://StudentLoanAdvice.com endorsed by The White Coat Investor
https://freestudentloanadvice.org/ The Institute of Student Loan Advisors is a non-profit organization founded by Betsy Mayotte, was created, per their website, to ensure that all consumers have access to fair, free, student loan advice and dispute resolution.
https://student-loan-consultant.com/
http://askheatherjarvis.com/
Lawyers:
Stanley Tate of Tate Law https://www.tateesq.com/
Jay Fleishman of https://www.moneywiselaw.com/
I have no affiliation with any of these companies. Please vet each company to see if the services they provide align with what you are looking for.
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You can learn more about Elisa at her website or follow her on social media.
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What is a growth mindset and how does that differ from a fixed mindset?
With The Grow Your Wealthy Mindset, I want to encourage you to embrace having a growth mindset more often than having a fixed mindset. Listen to this episode to find out more about mindsets and how you can work to make that switch.
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You can learn more about Elisa at her website or follow her on social media.
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This episode talks about all the costs that are associated with investing and how much it can impact the returns of your investment. All investments have some cost associated with them. Some costs are more visible while some costs can be hidden. Fees that seem small can cost 6 or 7 figure over your investing lifetime.
Tune in each week to learn more on how to grow your wealthy mindset!
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You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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“Boundaries are the distance at which I can love you and me simultaneously.” Prentice Hemphill
A boundary consists of a request you make, followed by the action you will take.
A financial boundary are limits you set to protect your money. You may even set a boundary to protect your money from yourself.
Listen to more learn about financial boundaries.
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You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
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This week, we have a special guest, Dr. Lara Hochman, who is the founder of Happy Day Health and has the mission to help physicians practice medicine where an environment where they love practicing medicine. She’s been called the medical matchmaker, matching physicians with medical practices where it’s a good match for both the physician and the practice.
You can reach Dr. Lara Hochman at
Website: www.happydayhealth.co (not .com)
LinkedIn: https://www.linkedin.com/in/larahochman/
Youtube: https://www.youtube.com/channel/UCorwNuzOmzeH25dDy6i6N5w
TikTok: https://www.tiktok.com/@happydaymd
Instagram: https://www.instagram.com/happydaymd/
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In this episode, I explain the concept of multiple streams of income. I then elaborate on the different types of income as well as the concept of passive vs. active income.
Active income generally occurs when you are trading time for money.
Passive income is income that where the work involved is much less compared to the income. Usually there is still some work involved, usually upfront, but then income can continue with significant effort or time.
I also discussed the difference of active vs passive income in the eyes of the IRS, which involves whether or not your materially participated in the business.
The link for the IRS website which defines material participation is : https://www.irs.gov/publications/p925#en_US_2021_publink1000104582
I also mention Doc 2 Doc Lending, find out more information at https://www.Doc2DocLending.com
For full disclosure, I do have a financial interest in Doc 2 Doc Lending.
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You can learn more about Elisa at her website or follow her on social media.
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This episode is about the practice of gratitude, which has been shown to improve physiological and psychological health. What's even better in that improvements can be seen with only 5 minutes a week.
In this episode, I reference The Huberman Lab Podcast Episode 47 The Science of Gratitude & How to Build a Gratitude Practice.
There are also a number of research papers referenced which are listed below:
Emmons, R. A., & McCullough, M. E. (2003). Counting blessings versus burdens: An experimental investigation of gratitude and subjective well-being in daily life. Journal of Personality and Social Psychology, 84(2), 377–389. https://doi.org/10.1037/0022-3514.84.2.377
Seligman, M. E. P., Steen, T. A., Park, N., & Peterson, C. (2005). Positive Psychology Progress: Empirical Valida-tion of Interventions. American Psychologist, 60(5), 410–421. https://doi.org/10.1037/0003-066X.60.5.410
Hori D, Sasahara S, Doki S, Oi Y, & Matsuzaki I. (2020) Prefrontal activation while listening to a letter of gratitude read aloud by a coworker face-to-face: A NIRS study. PLoS One, 15(9),e0238715. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7478838/
Hazlett LI, Moieni M, Irwin MR, Byrne KE,Jevtic I, Meyer ML, Breen EC, Cole SW, & Eisenberger NI. (2021) Exploring neural mechanisms of the health benefits of gratitude in women: A randomized controlled trial. Brain Behav Immun. 95, 444-453. PMID: 33932527
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You can learn more about Elisa at her website or follow her on social media.
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In this episode, I talk about different tools, (software and apps) that you can use to help track your Net Worth and your spending habits.
Personal Capital https://www.personalcapital.com/
Tiller https://www.tillerhq.com/
Kubera https://www.kubera.com/
Mint https://mint.intuit.com
YNAB https://www.youneedabudget.com/
Quicken https://www.quicken.com/
New Retirement https://www.newretirement.com/
PocketSmith https://www.pocketsmith.com/
Monarch Money https://www.monarchmoney.com/
Every Dollar https://www.ramseysolutions.com/ramseyplus/everydollar
Albert https://albert.com/
The review articles I read to prepare this episode include:
https://robberger.com/net-worth-calculators/
https://www.investopedia.com/personal-finance/best-budgeting-software/
https://investorjunkie.com/personal-finance/how-to-track-your-net-worth/
https://www.mymillennialguide.com/net-worth-tracker/
https://afterschoolfinance.com/best-net-worth-trackers/
https://www.techradar.com/best/best-budgeting-software
https://www.forbes.com/advisor/banking/best-budgeting-apps/
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You can learn more about Elisa at her website or follow her on social media.
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Are we in a recession and who gets to decide? Learn more about recessions and how to prepare for the next recession in this episode.
How do Economist determine whether the economy is in a recession?”
https://www.whitehouse.gov/cea/written-materials/2022/07/21/how-do-economists-determine-whether-the-economy-is-in-a-recession/
National Bureau of Economic Research Business Cycle Dating Committee
https://www.nber.org/research/business-cycle-dating
For Show Notes
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This weeks episodes talks about risks and how to overcome fear when it comes to investing. Not investing has it's own risks. Money decreases in value due to inflation. It's not possible for most physicians to save enough money for retirement. The saved money needs to be invested so that it can grow, your money needs to be working hard for you so you don't have to keep working hard for money.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media. If you are interested in 1:1 coaching with Elisa, you can sign up for a consultation call at https://calendly.com/wealthymindsetcoaching/30min?month=2022-10
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In this episode, Elisa talks about the short-term rental she purchased in 2021 and how this became both a profitable investment as well as resulted in a large tax refund.
In the course, she mentions Dr. Sabitha Setty, also known as The Unorthodox Doc, who runs the course Roadmap to Investing In Short Term Rentals. The book mentioned in the podcast is Short-Term Rental Long-Term Wealth by Avery Carl (not Carl Avery as stated in the podcast)
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In this episode, I cover two powerful real estate strategies that have allowed investors to save tens of thousands of dollars in taxes. The first strategy is achieving Real Estate Professional Status and the second is using the Short Term Rental Loophole. Bonus depreciation has supercharged the ability of these strategies to decrease the tax burden for W-2 and 1099 employees.
REPStracker App can be used to help document your hours for Real Estate Professional Status.
For more information on Real Estate Professional Status, refer to Look IRS Sec 469c(7). You can learn more at. https://www.irs.gov/publications/p925
For more information on the “short term rental loophole,” refer to IRS Reg. Section 1.469-1T(e)(3)(ii)(A).
There are two great books written on real estate and taxes
The Book on tax Strategies for the Savvy Real Estate investor by Amanda Han & Matthew MacFarland
The Book on Advanced Tax Strategies Vol 2. by Amanda Han & Matthew MacFarland
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Real estate investing is a great way to grow wealth and diversify your investment portfolio. There are many ways to get involved in real estate investing that ranges from being very hands on to being completely hands off. In this episode, I introduce multiple ways to invest in real estate. You’ll learn about the difference between long term, mid term and short term rentals, which are always ways of actively investing in real estate. I also discussed passive real estate opportunities, both investing in real estate equity or investing in debt backed by real estate. If you haven’t hard of the Augusta Rule, listening to this episode could save you thousands of dollars in taxes a year depending on your personal situation.
In the podcast, I mention my favorite book for learning about investing in real estate syndications, The Hands off Investor by Bryan Burke. If you want to see more books I recommend about money and real estate, https://www.growyourwealthymindset.com/resources.
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The largest life time expense most physicians will have is taxes. In this episode, I review tax deductions available to W-2 earner physicians. I then talk about how the majority of tax deductions go to business owners.
Some people equate financial independence with retirement but there are more reasons to achieve financial independence other than retirement. In this episode I talk about the benefits of financial independence as well as the different levels of financial independence.
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Your employer sponsored retirement plan may have limited choices, or may have so many choices you have no idea what to pick. There may or may not be index funds or there may be index funds. So how do you go about choosing which funds to invest in? That’s what you’ll learn in this episode of The Grow Your Wealthy Mindset Podcast.
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I start this episode taking about the Warren Buffet Challenge and how he won a million dollar bet that the S&P500 index fund would outperform an actively managed hedge fund.
I discusses the three most popular indexes, the Dow Jones Industrial Average, The S&P 500 Index and the Nasdaq Composite Index. I then go a little into the history of mutual funds, discussing actively managed funds and index or passive funds. I end with how to invest using index funds.
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Have you been thinking about whether or not to hire a financial advisor?
This episode discusses who should consider hiring a financial advisor, what financial advisors can help with you and how they can provide value, and how to choose a financial advisor if you decide it's right for you.
If you're interested in working with Elisa Chiang, head over to her website
https://www.GrowYourWealthyMindset.com and sign up for a free consultation meeting.
Not ready for that step? Then follow Elisa on social media.
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Stephanie Pearson, MD, FACOG was in the prime of her career as an OB/GYN when she suffered a shoulder injury at work that soon prevented her from practicing medicine. Her struggle navigating the disability claims process, along with the challenges of losing her identity as a physician, drove her to become a passionate advocate and advisor to her peers on the importance of disability insurance.
Stephanie dedicated herself to educating others on the vital need to have the appropriate policy (something she had lacked) and decided to become an insurance broker; specifically, the rare type of broker who follows her clients throughout their careers, advising them continuously as their life circumstances change.
She is now the CEO and Insurance Advisor at PearsonRavitz which was founded in Philadelphia in 2017.
Website: https://www.pearsonravitz.com/
Office: Phone: 610 658 3251
Office: Fax: 610 667 1497
10 East Athens Avenue Suite 208
Ardmore, PA 19003
Email: Stephanie@PearsonRavitz.com
Facebook: https://www.facebook.com/stephanie.pearson.790
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YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
For most early career physicians, their greatest asset is the ability to earn income practicing medicine. All doctors know about health insurance. Anyone who owns a car is required to have auto insurance. If you have a mortgage on your home, your bank will require you to have home owners insurance. Most people have heard about life insurance. But there are still a lot of physicians out there who don't know about or don't have the proper disability insurance. What you don't know can hurt you, so listen to the episode to learn about long-term disability insurance.
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You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
When do you need to have an Emergency Fund?
How much should you have in it?
Where is the best place to keep an Emergency Fund?
Do doctors really need an Emergency Fund?
Listen to learn all about Emergency Funds.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
There is a common saying that money can't buy happiness, but is that really true? In this episode, I discuss many studies around money, wealth and happiness. It turns out that there are ways of spending money that can potentially increase happiness
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
I bonds have been around since 1998 so why does it seem like people only started buying them recently? It all has to do the the I part of I-bonds, I standing for Inflation. With inflation at the highest rates in decades, the interest rate on I-bonds have suddenly become very attractive. But is it worth all the hype? Listen to find out.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
I'm excited to bring the first guest to the Grow Your Wealthy Mindset Podcast, Dr. Recha Bergstrom.
Recha Bergstrom, MD is a practicing radiologist in Northern California specializing in Women’s Imaging. She is also a mom of three, wife, entrepreneur, and philanthropist.
Recha founded The Physician Philanthropist to help doctors donate effectively, invest responsibly and spend thoughtfully so thatthey can maximize the positive impact they want to have in the world. She established The Physician Philanthropy Impact Fund to make it easy for doctors to advance their goals of healing and alleviating suffering globally, in all its forms, for people and planet.
Her blog “Intentional Money for Doctors” provides simple steps to start learning how to use the power of the money you have as the most effective way to create change in the world. She also offers self-paced online courses for busy doctors. “The Physician Philanthropist Course” is a comprehensive online course to develop an impactful giving plan. “Profit & Purpose: Impact Investing for Doctors,” helps doctors align their investment portfolios with their values without sacrificing returns.
You can follow her on FB & IG @physicianphilanthropist, and there is a private FB group for doctors - www.facebook.com/groups/thephysicianphilanthropist. Her blog and courses can be found at www.thephysicianphilanthropist.com.
Social media links:
Website & course: https://www.thephysicianphilanthropist.com/
Instagram: https://www.instagram.com/physicianphilanthropist/
Facebook: https://www.facebook.com/physicianphilanthropist
LinkedIn: https://www.linkedin.com/in/recha-bergstrom-3058352/
Facebook group for physicians: https://www.facebook.com/groups/thephysicianphilanthropist
AFFILIATE LINK:
https://www.thephysicianphilanthropist.com/affiliate_users/sign_up
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
In the episode on investing, I briefly mentioned considering which accounts you want to use in your financial plan. In this episode, I will discuss many tax-advantaged accounts that can be used for investing. Many of these accounts are designed to help people save for retirement but there are other accounts with different goals as well. It can sound confusing since many accounts are named with letters and number. Once you get use to the names, it's really not so bad.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
If you want to build wealth, you'll need to know something about investing. Investing is all about making your money work for you so you don't have to always work for money.
Most investments fall into
1) Investing into a business
2) Lending money to earn interest
3) Buying something you hope goes up in value
Some people would call #3 gambling. It's not hard to argue that there is some gambling, or measure of chance, that occurs with investing so I'm not going to argue about investing vs. gambling.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
How do people define rich or wealthy? In this episode, I dig into that question. A lot of people had different opinions on what it means to be rich or wealthy. Some people felt like being rich is different from being wealthy.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
Everyone makes financial mistakes. Some are smaller, like missed opportunities, and some are larger, costing tens or even hundreds of thousands of dollars. The more financial mistakes you can avoid, the better. Talking about financial mistakes helps other people avoid them. Here are some financial mistakes physicians often make.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
Debt is money that you bought and the price you pay for that money is interest. Debt is neither good nor bad. Understanding debt can take away some of the shame people have around debt. The ability to buy money is actually a great benefit.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
Do you know your financial net worth?
If you don't, then this episode is for you!
If you're working on growing your wealth, you'll want to know where you stand now.
You'll also want to give some serious thought about what that means to you.
Tune in each week to learn more on how to grow your wealthy mindset!
Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
Many of us have fallen into the trap of arrival fallacy, or the belief that you'll finally have lasting happiness once you achieve a specific goal our outcome. Yes, reaching goals can make us feel happy for a while, but eventually that becomes your new baseline and life goes back to "normal." Learning to enjoy the journey which is going to include both ups and downs will lead to more happiness now.
Tune in each week to learn more on how to grow your wealthy mindset!
Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
Dr. Elisa Chiang started her financial education in 2004 when she bought her first house while still a student. Tune in to hear her story and see how she grew her monthly mindset which led her to be a millionaire within 3 years of finishing her medical training.
Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive.
Tune in each week to learn more on how to grow your wealthy mindset!
Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms.
Please subscribe and leave a review on your favorite Podcasting platform.
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432
This is a pre-podcast episode to introduce the new podcast that is releasing on June 1, 2022!
You can learn more about Elisa at her website or follow her on social media.
Website: www.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/elizabeth-chiang-0582a432