Finance Flash Go | Create and Grow Wealth | Lessons, Tips, and Strategy: Recent Episodes
Taylor Brana
This podcast is designed for professionals looking to learn financial lessons and strategies to create and grow wealth more effectively. Throughout this podcast, we will be discussing different financial concepts that are important so that you can create a wealthier life! Learn what school didn't teach you with our question of the day podcast. Please send us your questions to: financeflashgo@gmail.com or on social media @financeflashgo
Today on the Finance Flash Go! podcast, we are talking about credit card points and when they can actually work to your advantage.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'll share why consumer debt is a true financial emergency!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast,I'll let you know if you need to worry about inheritance taxes!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are chatting about the Stretch IRA and if it really even exists anymore.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'll share the deep risks of investing and how you can manage them.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'll share the shallow risks of investing and if you should worry about them.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are going to discuss accounts receivable.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we chat about evictions.
If you invest in real estate, odds are you may have to deal with an eviction. So let's study up! Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's discuss why cash flow is maybe the most improtant variable in your financial life.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are going to talk about the SEC...what is it good for?
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will talk about your risk tolerance.
Everyone's risk tolerance is different. You need to figure out yours so you can create a financial plan and stick.to.it!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss bond index funds.
Bond index funds are collections of bonds put together as a fund to increase intra fund diversification.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss TIPS bonds.
TIPS are inflation indexed, meaning that their principal value rises as inflation rises while the interest payment varies with the adjusted principal value of the bond.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss EE bonds.
Series EE bonds are government bonds known as "Patriot" bonds that are guaranteed to at least double in value over their typical 20-year initial terms.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss I bonds.
Series I bonds are non-marketable bonds. They are part of the U.S. Treasury savings bond program designed to offer low-risk investments.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
What is investment arbitrage in technical and practical terms? We'll discuss on today's episode of the Finance Flash Go! podcast!
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll talk about the QBI, or 199A, tax deduction.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll talk about the child tax credit.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll talk about pass through tax entities.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll talk about stock futures.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we cover the topic of adjustable interest rate loans or mortgages, commonly referred to as ARMs...
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about variable interest rate loans...
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about fixed interest rate loans...
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about interest...when it works for you...and when it works against you...
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'll be talking about principal for your loan or your investment.
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will debate if tax refunds are good or bad...
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss the futures market for equities.
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we talk about closing costs in real estate transactions - what they are and why they matter!
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will talk about cash-out refinancing. When is it a good thing?
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'll detail the complexities of the bid-ask spread for equities like stocks.
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss the role of mortgage points in lending.
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss the scarcity money mindset...
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are chatting about an abundancy money mindset!
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing peer to peer lending.
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will talk about hard money lending.
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss the role and power of leverage in investing.
We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss more about the role of limited partners in investment structures. What are their rights? Their roles? Is their income passive or active? How is this determined?
All this and more in this episode!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss private equity structures.
Basically, who are the players involved and what are their roles. It's really important to understand all of this before entering a financial agreement with anyone or any company.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss what property managers do for your rental real estate investments. Then you can decide if they are worth it!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about LLCs.
What is it? Who needs them? Why are they good? Let's discuss!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about geographic arbitrage.
Geographic arbitrage will make you wealthier. But what does it mean exactly? And how should you take it into account?
More on that in this episode!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'm going to tell you what it means to buy the dip. Then we'll talk about if you should do it or not!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing multitasking.
Looking to increase your productivity? Well, multitasking isn't the answer. In fact, it will do the opposite. So, we need to change to a task switching mindset. Learn how in this episode!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about limiting beliefs.
The biggest obstacle to your financial success is looking you in the mirror. And limiting beliefs are a big reason why. So let's explore what they are and how we can overcome them!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing SPACs.
A SPAC is a Special Purpose Acquisition Company. Still confused? Yeah...me too. So let's talk about what SPACs are, why they exist, and if they are a good investment.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast,we are discussing HELOCs.
A HELOC is a home equity line of credit. It's a way to tap into your home's equity. But what does that cost? And is it worth it?
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about lump sum investing.
What is it?
How does it compare to dollar cost averaging?
What should you do and what doe sthe data show?
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will talk about non compete clauses.
A non complete clause is an important part of your contract to understand. Too often it is assumed that it is just a mandatory part of the contract. But that's not true...
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice. A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we chat some more about specifics regarding diability insurance.
A partial disability rider allows you to claim benefits for lost income due to an injury even if you are only partially disabled.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we chat some more about specifics regarding diability insurance.
The future increase option rider ensures that as your income increases, so can your disability benefits. But what exactly does this mean for you?
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about term life insurance ladders. They can be very beneficial if your situation calls for it. But first, you need to make sure you understand what they are, what they do, and if you need one.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about the importance and necessity of own occupation disability insurance including what it means and what it does for you.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing disability insurance - particularly its necessity for trainees and advantages of buying it in training!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
What's better? A 401(k)/403(b) or a pension? How exactly are they different? What are the pros and cons of each? Let's discuss today on the Finance Flash Go! podcast!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing pensions. What are they? How do they work? Do you want one? This and more in today's episode!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about vacancy in real estate investing. Why it's important? What it means? How to minimize its impact!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we chat about dollar cost averaging into the stock market.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will talk about hybrid investment plans, what they include, what they don't include, and why I use one.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing quarterly estimated taxes.
When do you have to pay them?
Who has to pay them?
How much?
All really important questions that I'll answer and more!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'll discuss 1099 income and ways to reduce your tax burden with this type of income!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I'll discuss W2 income and ways to reduce your tax burden with a W2 income!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, you can listen to me sound off on medical student loans.
But, I'll also go into the mindset that is required to attack these outrageous loans rot make sure they do not disrupt your financial well-being!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's chat about 1031 exchanges.
1031 exchanges are tax-deferred exchanges that can be utilized in real estate investing.
It's another example of a powerful tool in real estate investing that makes it a wealth accelerant and generational wealth builder.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about a step up in basis.
What does this mean?
How does it help build generational wealth?
Is it going to change?
We cover all this and more!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about an assets under management fee (AUM).
An AUM fee is very much NOT a flat fee model.
And that does make a lot of sense for those of us investing wisely via a passive route.
So let's discuss what it means and what better models for us are.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about stock splits.
Stock splits results in an increased number of stocks. But not an increased value of the stocks.
How does this work? I'll explain...
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
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Today on the Finance Flash Go! podcast is the shocking follow-up to our episode on dividends!
Let's talk about why reinvesting your dividends is such powerful investment strategy.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we hit the topic of dividends.
What are they?
What do they mean?
Should you favor stocks that give dividends or don't give dividends?
Find out this and more!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about deflation.
Deflation is the opposite of inflation.
But what does that mean to you as a consumer and investor? Let's discuss.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will discuss initial public offerings.
What are they? How are they valued? Should you buy into them?
All this and more to help shape your successful investment strategy!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about angel investing.
Put simply, angel investing is a way to get in on the ground floor with start ups companies. There is the potential for huge returns, yes. But there is also huge risk involved. Way more risk than is necessary for doctors to take on to reach their financial goals...
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about cryptocurrency.
And that is all I'm gonna say. I'm leaving it cryptic...get it?!
Tune in and see why I don't invest in it!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we're going to talk about refinancing student loans.
Basically, when you refinance student loans, you package some or all of your loans into a new loan product with new and better terms. There's a ton of upsides but also some downsides.
We cover it all in this episode!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about Ponzi schemes.
What are they? Why do doctors need to be aware of them along with all fraudulent investments? have any doctors created Ponzo schemes targeting other docs?
You'll find out in this episode!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let's talk about loan mindset...or basically howe you should think about debt.
The overwhelming majority of doctors will have loans in their life.
We take out loans early and often in our lives so they begin to feel normal. We therefore think that taking out more loans is no big deal.
Doctors begin to think that paying our loans becomes “just like any other bill.”
This is the wrong way to think about them! So how should we think about them? Let's explore.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll share my thoughts about investing in a backdoor Roth IRA as a high income earner.
Think this is a simple answer?
You may be surprised by my thoughts. And I won't give it away here!
Give this episode a listen!
Hint: It is always a good time to invest in the stock market! But only when you are investing in a manner that does not require you to be able to predict the future…like with low cost broadly diversified index funds.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about inflation.
Inflation decreases the purchasing power of your money each year.
It is the reason that you need to invest...and to invest wisely.
But what exactly is it and how does it affect you?
Let's explore!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we're chatting about REPS!
Real Estate Professional tax Status or REPS allows you to offset your ACTIVE income using your losses from real estate investing. This is a HUGE tax advantage for W2 and 1099 earners.
But how can you achieve REPS? Let me show you!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
On this episode of the Finance Flash Go podcast, I'll go in depth on depreciation and it's role in real estate investing.
Put simply, real estate depreciation is a paper loss that you automatically take on your investment property that can be counted against your income from that same or other properties. In certain scenarios, you can even use it to offset active W2 or 1099 income.
This is what makes real estate such a powerful investment vehicle!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll share my thoughts about FIRE and what it means! What is FIRE? I’m gonna keep this real brief.
If you go online to any forum, you will find intense arguments about what FIRE means, what it is and what it isn’t. Is the blogger technically on FIRE if she still blogs to make money?
Who.cares.
The thing is that it doesn’t matter at all what anyone else thinks. FIRE is personal. It’s a one woman or man game. You compete against no one but yourself. (And trust me, you are fierce competition enough!)
This is what FIRE is (to me, of course). But I think this is a generalizable definition.
FIRE is living your life on your terms It has nothing to do with finance per se.
However, finance is likely the biggest restraint to living life on our terms for the average human. This goes for those in both lower and higher socioeconomic levels. Sometimes it’s even easy to wonder if it can be a bigger restraint in the higher SES strata.
(P.S. It’s not. But the fact that some high income earners place themselves in self imposed golden handcuffs is a very avoidable fate…)
Related Post:
To Be Rich & To Feel Rich: Two Very, Very Different Things!
So, that’s what FIRE means to me. I want to reach financial independence to live life on my terms. Honestly, things may not change very much externally when I reach FIRE. But internally, the change will be immense.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll share my thoughts about investing during market highs!
Hint: It is always a good time to invest in the stock market! But only when you are investing in a manner that does not require you to be able to predict the future…like with low cost broadly diversified index funds.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will cover the topic of market appreciation.
Market appreciation is how much your property is valued in the market. It is subjective and based just on how much someone will pay for your property at any given time.
It is out of your control and should not be relied on as a consistent source of income/equity in your real estate investing. Think of it instead like a cherry on top…if it happens great! If not, no big deal.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we will cover the topic of forced appreciation.
Forced appreciation in real estate investing is appreciation that YOU, as the investor, bring about on your property.
Your investment property is a business. So it is valuated as such. And anuthing you do to increase the profits of your business will force appreciation on it!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I want to go a little more in depth about cash on cash calculations as they relate to real estate investing. Specifically, we will talk about their relationship to return on investment.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re talking about stock P/E ratios.
The P/E ratio helps investors determine the market value of a stock as compared to the company's earnings. In short, the P/E shows what the market is willing to pay today for a stock based on its past or future earnings. A high P/E could mean that a stock's price is high relative to earnings and possibly overvalued. Conversely, a low P/E might indicate that the current stock price is low relative to earnings.
However, companies that grow faster than average typically have higher P/Es, such as technology companies. A higher P/E ratio shows that investors are willing to pay a higher share price today because of growth expectations in the future. The average P/E for the S&P 500 has historically ranged from 13 to 15. For example, a company with a current P/E of 25, above the S&P average, trades at 25 times earnings.
https://www.investopedia.com/investing/use-pe-ratio-and-peg-to-tell-stocks-future/
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re talking about capital gains taxes.
Capital gains taxes are unlike income taxes in that they are not taxed on an annual basis.
They are taxed based on when the asset being taxed is sold.
They also are generally lower than your income tax rate which can be used to your advantage.
Let’s discuss more.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about stock dividends.
A stock dividend is a dividend given to shareholders that is made in shares, not cash. The advantage is the rewarding of shareholders without reducing the company's cash balance, although it can weaken earnings per share.
Let’s discuss more.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll share my favorite metric for evaluating investment real estate properties, cash-on-cash return!
Cash-on-cash return (CoC) is the percentage of annual cash flow that a property puts in your pocket divided by the amount that you paid out-of-pocket for that property.
I pursue properties that reach an expected CoC return of 10% or greater. If it meets that mark, I am going to make an offer. If not, I’ll pass.
Let’s discuss.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer, while we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’m talking about day trading.
Day trading generally refers to the strategy of trading individual stocks within a trading day.
Why is this a bad idea?
Well, it relies on you predicting the unpredictable, which is the emotional aspect of stock investing.
Let’s discuss.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we talk about YOLO investing.
YOLO investing means You Only Live Once so let’s let your money ride of an individual stock like GameStop.
It’s the inverse of the index fund/FIRE philosophy.
But can you do a little bit of YOLO investing?
Let’s discuss.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, it’s all about 529 plans and saving for your kids’ colleges.
529 plans, also known as qualified tuition plans, allows for individuals to save money for qualified educational costs with tax advantages.
Which ones? How? How much should you be saving in these accounts?
We will cover it all in this episode!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to cover expense ratios in stock investing.
Put simply, an expense ratio for a mutual fund refers to the fee that the investor must pay to cover the expenses for operating the mutual fund.
So make sure they are low!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll tell you what you need to know about liabilities.
Let’s get down the basics. Let’s talk about assets and liabilities and how they will determine your wealth and, ultimately, financial freedom.
Liabilities are anything that takes money out of your pocket.
Again, it’s that simple. Listen and I’ll tell you why.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll tell you what you need to know about assets.
Let’s get down the basics. Let’s talk about assets and liabilities and how they will determine your wealth and, ultimately, financial freedom.
Assets are anything that makes you money, it puts money in your pocket.
It’s that simple. Listen and I’ll tell you why.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let’s chat about deep work.
One of the better books that I have read in the past year is Deep Work by Cal Newport. Both my wife, Selenid, and I have read it. And I even gifted it to my brother-in-law, Justin, who still thinks he’s smarter than me. As a concept, “deep work” refers to the ability to concentrate without distraction on a cognitively challenging task. As you can imagine, the advantages of deep work for anyone, let alone a physician, are humongous! So, this post is all about implementing deep work as a physician.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let’s chat about cars for doctors.
Everyone knows about the doctor car. Doctors know about it. Non-doctors know about it. Other than the doctor house, it is the symbol of medicinal consumerism.
But is it smart to get a doctor car? If not, what kind of car? Should you buy or lease a car?
Well, take me as an example as I try to illustrate this.
Before I began my financial education at the end of my fellowship, I was prepared to lease a doctor car. I budgeted $600-700/month for my car’s lease.
But,
- My student loans totaled over $450,000
- I had not even made my first attending paycheck
- I had credit card debt
- My financial plan was non-existent
Hmm, maybe this $7200-8400/year could be better allocated to increasing my net worth by decreasing my debt instead of buying a depreciating liability?
Oh yeah, that’s the other thing. A car decreases in value the moment you drive off the lot. It’s not an asset. It’s a liability.
And leasing a car, you basically are subsidizing the depreciation of the car for the dealership.
So, my advice to to buy your car outright. If you can’t pay the car off in one year, you can’t afford it!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about analysis paralysis.
Analysis paralysis can seriously impede our ability to make progress in our lives. Personally. Professionally. Financially. With friends, family, colleagues. The list goes on and on…
It is also super common. I have never asked one person who hasn’t admitted to suffering from analysis paralysis in one form or another.
And it is hard to resist. Evolutionarily, analysis paralysis makes sense. We are a loss adverse species in which losses hurt a lot more than wins give us pleasure. We are hardwired to scrutinize the decisions we make with an emphasis on not making the wrong one.
And that is what the driving force of analysis paralysis is…fear!
How often have you seen someone who is deciding between two good things? It really can be anything.
Maybe it’s something serious like the decision to pay down debt or invest in index funds…both options are great.
The key to overcoming is trusting yourself.
You need to learn to trust yourself. You will know what the right move and decision is. Your heart or gut or soul or whatever you want to call it will be telling you. Meanwhile, your cavewoman brain will still be wrestling to try and protect you.
Like so many things in this world, analysis paralysis is not one of those things that you conquer once and for all.
It’s a constant effort.
But it does get easier. Once your have developed the tools, you become more adept at implementing them when the time arises.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll share how to calculate your net worth.
Net worth is the scorecard of financial well-being, security, and ultimately independence. You want to increase your net worth every day.
To review, net worth is equal to all of your assets added up subtracted by all of your liabilities added up.
In the way of definitions, assets are things that put money in your pocket. A cash-flowing real estate investment property is an asset. A liability is anything that takes money out of your pocket. A brand new luxury car that depreciates 10% when you drive it off the lot is a liability.
Without keeping score, we have no idea how we are doing financially.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let’s chat about capitalizatoion rates.
Capitalization rates, or cap rates, come into play when discussing real estate investing.
Basically, the cap rate is a measure of return that you receive from an investment property.
Mathematically, it is equal to your net operating income (NOI) divided by the price that you bough the propert for. And NOI is equal to your income from the property minus all expenses EXCEPT mortgage principal and interest.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking bear markets.
A bear market is when the value of the opverall stock market drops 20% of more below it’s recent peak values. It is basically the opposite of a bull market.
But bear markets are not uncommon. You will go through them in your investment career.
The key is to understand the correcty philosophy of investing broadly for the long term, not the short term. You do NOT want to sell your stocks in a bear market because you are worried about further drops. This will insure that you are selling low and losing money.
You can help to avoid this by making sure you set your asset allocation to your proper risk tolerance.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to discuss stock market corrections.
A bull market refers to a financial market in which prices of assests are rising, or are anticipated to rise.
The traditional definition is a market that has risen in value by 20% or greater.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer: While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to discuss stock market corrections.
A stock market correction is defined as a drop in the overall stock market of 10%.
They can last for days, weeks, or months and generally occur on average once a year.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer: While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to talk more about annuities and a particular variety of annuity.
An single payment immediate annuity is a product and agreement between an individual and an insurance company that pays the owner a guaranteed income starting pretty much immediately. It differs from a deferred annuity, which begins payments at a future date chosen by the annuity owner. An immediate payment annuity is also known as a single-premium immediate annuity (SPIA), an income annuity, or simply an immediate annuity.
Buyers can choose monthly, quarterly, or annual income. Payments are generally fixed, but variable and inflation-adjusted annuities are also available.
People often buy immediate payment annuities to supplement their other retirement income. It is also possible to buy an immediate payment annuity that will provide income for a limited period of time, like 5 or 10 years.
One downside of an immediate payment annuity is that payments usually end upon death with the insurance company keeping the remaining balance. That’s how the insurance company makes money.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to talk about whole life insurance.
First, what is life insurance for?
Life insurance is insurance needed if you have anyone depending on your income to live. This includes spouses, partners, kids, etc.
Don’t have any dependents? Then you don’t need life insurance. Are you and your dependents financially free? Then you don’t need life insurance.
Unlike term insurance, which lasts only for the “term” that you buy it, whole life insurance is designed to pay out when you die, no matter when that is, even if that's at age 95.
That is an upside, I guess, to whole life insurance.
However, there are a whole lot of downsides that make whole life insurance really not a great or even mediocre option for 99% of physicians out there.
This is not a comprehensive list but the downsides include:
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It is wayyyy more expensive than term life insurance
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The returns are low
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These bad returns (often negative) are front loaded
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Most policies are surrendered prior to death, meaning that those who bought them found they did not serve a purpose
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Many more!
So, don’t buy whole life insurance, especially if you are a resident.
Buy term life insurance that you can drop when you reach financial freedom!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to talk about tax rates.
It’s very important to understand the difference between your marginal and your effective tax rate.
When people talk about their “tax bracket,” they are really talking about their marginal tax rate. This is the rate that the next $1 that they earn is taxed at.
But, we have a progressive tax system in the US. This means that every dollar that you make is not taxed the same way. The first $1000, let’s say, is taxed at a much lower rate than is the rest of your income. As you make more taxable income, you progress up through the tax brackets.
These change all the time with different political administrations, however, the highest tax bracket is usually around 33%, give or take. So, if you make a certain amount of income, usually above $400,000, every dollar above that income amount will be taxed at the highest rate. That is your marginal tax rate.
Your effective tax rate is equal to the amount of taxes you pay divided by your taxable income. This is basically the averaged out tax rate that you pay for all of your taxable income. It is by definition less than your marginal tax rate.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll share my thoughts on familiarity bias in stock investing.
Familiarity bias is when we feel that an investment is good, or even worthwhile, because we are familiar with it.
We feel that we have some “insider” knowledge of a product, industry, field, technology, you name it. So, we believe that we can leverage this familiarity and perceived knowledge to invest and outperform the market.
This plays out allllll the time, especially in stock investing. Someone works in product development and thinks some new technology will push some product into the stratosphere. So they buy some stock in the company with the technology and/or product.
As physicians, we are particularly susceptible to this bias
If I had a dollar for every doctor that has told me they like to invest in medical technology because they really feel it is going to take off…Oh yeah, and because they feel they can understand it, I could shave a few years off of my retirement.
That’s exactly the problem with familiarity bias. It lulls us into a false sense of security. All of a sudden, we think we can beat the stock market and time the market and do all these sorts of things that we just can’t.
When you invest, you are minimizing risk and maximizing return.
The only way to do this in the stock market is through index fund investing and approximately the market. In doing this, I pin my hopes and money on the entire US and world economy. If something good happens for me and my money, it’s happening for everyone.
When you speculate, you are hoping and banking on something happening that is good for you and inherently bad for others. Right?
You are making a bet, and someone has to win and someone has to lose.
Even if you are making a small bet, like on medical technology stocks because you are a doctor and know the field, you are still speculating.
Think about your investments right now and see if you are relying, even a little, bit on the speculative component on the stock market’s value.
If so, I would strongly consider adjusting to minimize your risk and maximize your reward.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we wade in tricky water…discussing good vs. bad debt!
Can debt be good? Or it all bad? These are important questions to ask.
A straw poll of most people would likely reveal an overwhelming majority who believe that all money owed is bad.
I wouldn’t be surprised to find that an even greater majority of physicians believe that all debt is bad. We spend so much of our lives under the burden of student loans. Physicians also notoriously use borrowed money to finance the lifestyle and gratification that they have delayed for so long.
So, what is good debt?
I’ll borrow my definition from Robert Kiyosaki in his book, Cashflow Quadrant.
Debt is good if you are compensated or paid for taking it on.
You may be screaming at the computer or phone screen right now saying that this is not possible. When we borrow money, we have to pay interest on top of the principal. So, how the heck would we get compensated for the debts that we take on?
What is bad debt?
Well, it’s the inverse of good debt.
Therefore, it’s debt that you are not compensated or paid to take on. I would venture to guess that most of the debt that most physicians think of fall into this category.
You can use good debt to improve your ability to accrue income producing assets.
This is my favorite use of debt.
Let’s start with an example from my life. My wife and I bought a duplex for $174,500 using 25% down. Thus, we owed about $130,000 on the mortgage when we closed. We increased our debt by six figures!
But…that’s not where the story ends. Every month, our tenants pay rent. This rent covers our mortgage. It also covers all other expenses like taxes, insurance, and maintenance. There is also extra that we put (usually tax-free) into our pockets.
There is no better example of getting paid to take out debt than investing in cash-flowing real estate.
I don’t think anyone can argue that this is bad debt.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to discuss tax credits.
Now let’s chat about tax credits.
Tax credits are different from tax deductions in that the full amount of a tax credit is deducted from the amount of taxes that you owe in a given year.
For instance, if you have a $5000 tax credit, that means that you pay $5000 less in taxes that year.
In contrast, a $5000 tax deduction will save you an amount equal to $5000 multiplied by your margial tax rate.
So, a tax credit is more valuable than a tax deduction.
An example of a tax credit is the child tax credit.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to discuss tax deductions.
A tax deduction is a form of a tax break.
Essentially, a tax deduction lowers the amount of a person's taxable income. In this way, the amount of income that you are taxed on in that given year is less. Thus you pay less taxes.
The amount that a tax deduction saves you in taxes is equal to the whole sum of your deductions multiplied by your marginal tax rate.
Some tax deductions are able to be taken directly from your taxable income. These are called “above the line” deductions or income adjustments.
Other tax deductions only can be counted if, when summed up, they are greater than the defined “standardized deduction” for that given tax year. If they total less than this, it is better to take the standarized decution which in this case would be greater.
Mortgage interest payments, property taxes, job related expenses, healthcare costs and other payments are eligible for tax deductions.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to discuss target date retirement funds.
Target date funds are funds offered by many brokerages in which they base the asset allocation on the estimated year that you plan to retire.
The funds are generally composed of index funds in select stock/bond allocations that decrease in risk as you approach your targeted retirement year. The asset rebalancing is performed automatically by the fund without you needing to actively do anything.
The disadvantage of target date funds are that their expense ratio is typically a bit higher than just doing the work yourself. However, the increase in fees is not typically large.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’ll fill you in on what it means to be an accredited investor.
An accredited investor is an individual or a business that is allowed to invest in certain vehicles or opportunities that may not be registered with authorities. They are allowed to do this by satisfying at least one requirement with regards to factors, usually income or net worth.
In the U.S, the definition of an accredited investor is madeby SEC in Rule 501 of Regulation D.
To be classified as an accredited investor, a person must have an annual income exceeding $200,000 ($300,000 for joint income) for the last two years. They must also have an expectation of having the same or a higher income in the current year. An individual must have earned income above the thresholds either alone or with a spouse over the last two years.
A person is also considered an accredited investor if they have a net worth of more than $1 million, either individually or jointly with their spouse.
There are other requirements that apply to business entities and such but not to individuals.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we have a simple question: Is passive income a real thing?
This is the question that I will try to answer today.
It’s hotly debated. Many accused me many times of incorrectly calling some type of income passive.
It really comes down to semantics. But semantics can be important. Someone hears about “passive income” and imagines a golden goose. It’s important that what we are describing is accurate to avoid misleading people.
Real passive income is really leveraged income.
There is no such thing as passive income. We are really after leveraged income.
I fully believe that there is no such thing as real passive income. No investments are therefore truly passive. (Buying and winning a lottery ticket is gambling, not investing so don’t even try that one…)
However, I have found many investments that weaken the link between my time/work and making money. As a plastic surgeon, my work/time:money ratio is roughly 1:1. But with my investments, it is much, much lower. But, it’s never been 0.
Just because some work is required does not mean it is not worth it.
Now that you understand my philosophy on leveraged income, you should really think hard about starting to create some leveraged streams of income.
Link: Physician Side Gigs to Make You Passive Income
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, I’m gonna tell you how you should invest your emergency fund!
Keep your emergency fund (or any pile of money you need in the short term, like 5ish years) in a safe place, like a high yield savings or money market account, so that it can be accessed and used easily when it is needed, in an emergency.
This emergency fund will keep you from needing to take out more debt or extend credit for things like car repairs, a broken furnace, or a pandemic that results in decreased income for an extended time period.
Having an emergency fund is like a life preserver for the crazy things that no one can predict. Too many physicians found this out the hard way with COVID. Make an emergency fund a priority and make keeping it safe a habit. Don’t chase performance with it.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are going to talk about 457 accounts!
A 457 investment account is another tax advantaged retirement account. It comes in two flavors: governmental 457 and non-governmental 457.
Governmental 457 accounts are more common and cater to local and state public workers rather than for-profit employers like 401(k)s.
Non-governmental 457s are available to certain tax-exempt non-governmental institutions. They are similar but, in general, governmental 457s are a bit better.
Like 401(k)s, 457s allow pre-tax contributions that grow within the account and are taxed upon withdrawal. The 2020 contribution limit is $19,500. While employer contributions are possible, the total limit stays $19,500. This means that is your employer will contribute $10,000, you can only contribute $9,500.
The disadvantage again is that you can only withdraw from this account without a 10% penalty at age 70½ or for other qualified emergencies, etc.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, it’s all about investment brokerages!
A brokerage is a company that serves as an intermediary for you to purchase investment products like mutual funds, stocks, bonds, and/or REITs among other products.
You can open a variety of accounts within a single brokerage. For instance, you can open a Roth IRA and a taxable investment account with Vanguard.
You will also use a brokerage to invest your employee retirement savings if you have such an account. In this case, your employer would select your brokerage.
The key things to determine when you are selecting a brokerage are the investment products and funds available to you and the expense ratios that they charge you.
You should seek a brokerage with a wide selection of index funds and very low (<0.1%) expense ratios. This is why I like Vanguard the best.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, it’s all about annuities!
An annuity is a contract between you and an insurance company. Basically, you agree to make a lump-sum payment or series of payments and, in return, receive regular disbursements, beginning either immediately or at some point in the future.
These are insurance contracts that promise to pay you regular income either immediately or in the future. Therefore, many people find them useful and buy them for retirement. If they are not sure that their money will last until they die, they buy an annuity to ensure that they always have some “income.”
Annuities come in three main varieties—fixed, variable, and indexed—each with their unique risks and payout potential.
Notably, the income receives from an annuity is taxed at regular income tax rates, not long-term capital gains rates, which are usually lower.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, let’s get into the dirt talking about junk bonds!
Junk bonds, or high-yield bonds, are risky investments. They are bonds that have higher rates of default. But they also offer significantly higher returns. Unlike lower-risk, investment-grade bonds, junk bonds are not usually ideal for long-term investments, and can easily cause the investor to lose their investment.
I don’t invest in junk bonds and really recommend that you stay away as well!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are going local and organic as we discuss municipal bonds!
A municipal bond is a bond (or “debt” or “IOU”) issued by a state or municipality to fund public works. Like other bonds, investors lend money to the issuer for a predetermined period of time, also known as the maturity of the bond. The issuer promises to pay the investor interest over the term of the bond (usually twice a year), and then return the principal back to the investor when the bond matures - that’s how all bonds work. The only difference is a municipal bond is lended locally to a municipality rather than the state or federal government.
Municipal bonds are considered quite safe with a low default rate and are very tax efficient as their interest is tax free. This is in contrast to most bonds that are tax ineffiicent.
Therefore, muni bonds are good to hold in a taxable account while other bonds should usually be held in a tax advantaged account.
You can also of course by index funds of municipal bonds.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, it’s trap or cap time. So let’s go!
A stock’s “cap” refers to its relative size in the market.
Large cap refers to a company with a market capitalization value of greater than $10 billion.
Market capitalization is calculated by multiplying the number of a company's shares by its stock price per share.
A company’s stock is the generally classified as large cap, mid cap or small cap.
Mid is the next size down and small is obviously the smallest.
It’s just a size thing and bigger is not always better (no puns intended!).
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’re going to cover growth versus value stocks.
Growth stocks are stocks in companies that are estimated to have the potential to outperform the overall market over time because of their future potential. Value stocks are stocks in companies that are currently trading below what peopel think they are really worth and will thus in theory provide a superior return.
Growth stocks are considered by analysts to have the potential to outperform either the overall markets or else a specific subsegment of them. Growth stocks can be found in small, mid or large cap sectors and really only retain this status until analysts feel that they have achieved their potential. Growth stocks are expected to outperform the overall market over time because of their future potential.
Value stocks are usually larger, well-established companies that are trading below the price that analysts feel the stock is worth. Value stocks are thought to trade below what they are really worth and will thus may theoretically provide a superior return.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Even hotter topic alert! Today on the Finance Flash Go! podcast, we’ll be discussing the Backdoor Roth IRA!
There IS a way for high income earners to contribute to a Roth IRA. It is colloquially called a Backdoor Roth IRA.
I won’t get into the nitty gritty of exactly how to do this here, but will describe the general idea.
Let’s say your income as a married couple is above $206,000. You already maxed out your 401(k) and 457(b) options. You want to maximize your tax advantaged investing before going into a taxable account.
What you can do is contribute $6000 to a Traditional IRA. Because you are above the income limit, your contributions will then be taxed. Leave it in the Traditional IRA and your money will be taxed again upon withdrawal.
BUT…the government will now allow you to roll your (now after-tax) Traditional IRA contributions into a Roth IRA once a year. Once this rollover is done, the money will grow tax free and not be taxed upon withdrawal. You are contributing to a Roth IRA through the backdoor…hence the nickname.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Hot topic alert! Today on the Finance Flash Go! podcast, we’ll be discussing the Roth IRA!
The Roth IRA is named after Senator William Roth who introduced the concept.
With a Roth IRA, your money is taxed at the time of contribution. The money then grows tax-free and is NOT taxed upon withdrawal. The contribution limit in 2020 is $6000 and the general rule for age of withdrawal without penalty is 59½.
Ok, here’s the kicker…there is an income limit to be allowed to contribute to a Roth IRA. The income limit in 2020 is $139,000 for individuals and $206,000 for married couples. Most physicians will again be above these limits.
With that being said, there IS a way for high income earners to contribute to a Roth IRA. It is colloquially called a Backdoor Roth IRA.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we’ll talk about health savings accounts or HSAs!
An HSA is an account where you contribute tax free money to be used towards health care expenses. While in the account, it grows tax free and is withdrawn tax free, so long as it goes towards health care expenses.
Triple tax free – no other account does that!
The extra nice trick is that you don’t need to withdraw money to pay for health care expenses right when they are due.
You can save the receipt for a health expense in 2021 and withdraw the money from your HSA in 2050 tax free using your saved receipt after it has had 30 years to benefit from compound interest growth.
That’s why it is often referred to as a Stealth IRA.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, the topic is 529 accounts!
A 529 account is an education savings account. Contribute money tax free, invest it tax free, and withdraw it tax free so long as it goes towards your designated child’s education.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, the topic is Traditional IRAs!
A Traditional IRA or Individual Retirement Account is an investment account available to any individual.
You can contribute up to $6000 yearly (as of 2020) to a Traditional IRA. Money put into this account is not taxed. Again, the money grows and then is taxed upon withdrawal (when your effective tax rate is likely lower).
Money can be withdrawn without a 10% penalty beginning at age 70½.
The main issue with a Traditional IRA is that the initial tax deduction upon contributing money is phased out for individuals making more than $75,000 or married couples making more than $125,000 in 2020.
Physicians will be above this income limit and therefore, their contributions will be taxed twice – once at contribution and once at withdrawal!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, how to manage lifestyle creep!
So, we are all on the same page, lifestyle creep is the concept that when we increase our income, we respond by increasing our spending.
This is such a huge thing for physicians because after training, our income increases 100s fold overnight. Add that to years and years of delayed gratification and mountains of debt and it can be a recipe for disaster.
The reason is that it is much easier to reduce spending that was never there by avoiding excessive lifestyle creep than it is to get rid of the spending once the items like huge houses, luxury cars, etc are already signed for and bought on credit or with loans.
Once your lifestyle creeps too much, you will still have to pay loans and your income is never going to increase 100x again. In fact, many doctors have seen their income decrease, leading to issues like bankruptcy.
What are some strategies to mitigate lifestyle creep,
- Rent your first home or at least do not spend more than 2x your income on your home
- Abide by the 10% rule, use 10% of your income increase to spend guilt free. The rest goes to your plan/savings
- Set aside big ticket items to buy with cash once you have saved up enough. Science shows you will enjoy them more)
- Reward yourself with an indulgence when you reach big financial goals like paying off credit card debt etc
- Be intentional with your spending. We are bad judges at what will make us happy in the long term, most of the time we get a short burst of enjoyment and then regress. Really think if what you want to buy will make you happier. If the answer is no or you are not sure, then don’t buy it.
In fact, I would go so far as to say that I can predict with good accuracy how someone will end up financially by what they do with their first attending paycheck. You have a critical window here to really set yourself up for financial success and even make up for past mistakes. Once you are debt free and firmly on the road to financial freedom, there will be plenty of time for splurging if you decided that’s truly what makes you happy – although I bet you will find that not quite to be the case.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about an amazingly simple and effective investment strategy called rebalancing!
Ok to start, we are assuming that at this point you have determined your asset allocation and bought funds according to your asset allocation. What next?
When investing in anything, the goal is to buy low and sell high. Then you earn the difference between the buying price and the selling price.
But how can you do this in the market without timing it or guessing the future, which we cannot reliably do?
It’s actually incredibly simple.
After you buy your funds in your asset allocation, do nothing. Then once or twice a year, rebalance your portfolio back to your set asset allocation.
Here’s an example of how to do this.
Let's say your goal asset allocation sis 80% stocks, 10% bonds, and 10% REITs.
Some years, stocks will do better than bonds and REITs.
At the end of the year using our example, you may have 90% stocks, 5% bonds, and 5% REITs (because stocks performed better).
To rebalance, you would sell enough stocks (you are selling high) and buy enough bonds and REITs ( you are buying low) to get an allocation back at 80% stocks, 10% bonds, and 10% REITs.
Do this and you are guaranteed to ALWAYS sell high and buy low.
Alternatively, you can divvy up whatever new funds you will be investing in the correct proportion to rebalance your asset allocation back to its predetermined percentages. This way, you can just buy low and don’t need to sell (and risk any tax implications).
Now sit back another year and do the same thing.
Rinse, lather, repeat.
You are now investing without needing to predict the future (impossible) or constantly stalk the finance pages (misleading) in a manner guaranteed to have you buy low and sell high (that’s how you make money, right?).
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are talking about the all-important 401(k) account!
A 401(k) investment account is probably the most common retirement investment account offered by employers. Additionally, self-employed individuals can open a solo 401(k).
In a 401(k), the money you put in ($19,500 limit in 2020) is not yet taxed (pre-tax money). It then grows in the account and is taxed when you withdraw the money in the future. This is advantageous because your effective tax rate during your peak earning years is very likely to higher than it will be in retirement when you will take the money out.
Often, employers will contribute to your 401(k) as well. Commonly, a “match” is offered in which the employer will contribute a certain amount if you contribute to the 401k to a certain level. The maximum combined employer-employee contribution in 2020 is $57,000. If you are self-employed with a solo 401(k), don’t worry. You can contribute as both employer and employee.
The price for this tax advantage is that the money cannot be withdrawn prior to age 59½. Take the money out before that age and you will pay a 10% penalty in addition to the typical taxes.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing what is included in our savings rate.
As I’ve shared before, the formula for wealth as a physician is quite simple. And a savings rate of at least 20% is pretty much mandatory.
Let's give an example:
We can determine that we would need to save $50,000/year for 30 years assuming a very conservative 5% return to live on $120,000 annually in retirement.
If your annual gross income is $250,000, 20% of your gross income is equal to the necessary $50,000/year. This salary is right around the median (actually a bit below) average physician income in 2020.
So just about every physician should be able to do this, and really even do a lot more.
I see and receive a lot of questions about what should be included in your savings rate. Basically, people asking, “Does X count towards my savings rate?”
I have pretty strong feelings about what does and does not count. And the reason I feel strong is because I base it on (what I think is) a pretty simple definition.
If you are setting aside any money from your gross pay (your paycheck or self-employed earnings), that counts towards your savings rate.
Based on my definition, it really doesn’t matter what you are saving that money for. Money is fungible. Each dollar can be used interchangeably to buy things or build wealth in any way.
This includes debt payments! Each $1 of debt that I pay off increases our net worth by $1. So of course it counts towards our savings rate!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing real estate syndications.
Passive real estate investing is any investment into real estate that you make with your money alone. You contribute no “sweat equity” to the venture.
You simply hand your money to someone else (usually a group) and they use that money to invest in real estate. The most common forms of this type of real estate investing are syndications and funds.
In a syndication, you and a number of other people pool your money to buy and invest in one property. In a fund, you are contributing along with others to a large pool of money used to invest in many real estate investment properties.
If you performed your due diligence well with the passive investment that you choose, they do well and you receive a return based on the structure of your investment.
These investments can use Buy & Hold, Buy & Sell, Fix & Flip, or any other real estate strategy to turn a profit. They are all passive in this instance because you are not the one doing the work.
You will also want to make sure that you understand how your syndication is structured, meaning how the syndication will pay its investors, like you.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing passive real estate investing.
Passive real estate investing is any investment into real estate that you make with your money alone. You contribute no “sweat equity” to the venture.
You simply hand your money to someone else (usually a group) and they use that money to invest in real estate. The most common forms of this type of real estate investing are syndications and funds.
In a syndication, you and a number of other people pool your money to buy and invest in one property. In a fund, you are contributing along with others to a large pool of money used to invest in many real estate investment properties.
If you performed your due diligence well with the passive investment that you choose, they do well and you receive a return based on the structure of your investment.
These investments can use Buy & Hold, Buy & Sell, Fix & Flip, or any other real estate strategy to turn a profit. They are all passive in this instance because you are not the one doing the work.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Today on the Finance Flash Go! podcast, we are discussing the classic three fund portfolio.
Ok, let’s take a step back and chat about stock and index fund investing again.
When you buy a company’s stock, you are saying that you believe in that company’s success. If you are right, like with Apple, you make a lot of money. If you are wrong, like Enron, you lose all of your money. Picking the right company, or horse, can be difficult even for the “experts.”
When you buy the whole U.S. stock market, you are saying that you believe in the overall ingenuity and innovation of humankind and the U.S. economy
So, if you make this bet and you are right, you make money. If you are wrong, the economy and civilization as we know it collapses. Your portfolio will be the last thing on your mind. Everything to gain and nothing to lose.
Betting on the whole stock market is a much safer bet. Over the long term, the overall stock market has always gone up. If you put money in the overall stock market at any point in history and just did nothing and kept it there for 20 years, you would have made a lot of money. This is largely what you are doing by investing in broadly diversified index funds. For example, the brokerage Vanguard (my favorite for its low costs and ease of use) has an index fund of every stock in the entire U.S. stock market. Buy that index fund and you own the next Enron, but you also own the next Apple. And everything in between. You will be investing in the innovation and entrepreneurial spirit of humankind.
So, that’s the first “fund” of your three fund portfolio: US stocks.
Now, you may want to also bet on the global economy in addition to the U.S. economy. So, you can buy a broadly diversified international stock index fund.
That’s part 2 of your 3 fund portfolio: Global stocks
Hmmm…still feeling like you’re taking on too much risk by putting all of your savings into stocks, even though you’re not planning to need it for 15-20 years. No problem. You can buy a bond index fund just the same way as a stock index fund. The performance of bonds does not correlate with the performance of stocks, so you are now diversifying.
And now your 3 fund portfolio is complete with the last component: Bonds.
This is a very simple yet very smart investment portfolio.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Welcome to another episode of the Finance Flash Go! podcast. On this episode, we’ll talk about VTSAX. Confused? Well, tune in!
VTSAX is an index fund offered through the brokerage Vanguard.
But before we even get into that, a refresher on stocks and index funds.
Over the long term, the overall stock market has always gone up. If you put money in the overall stock market at any point in history and just did nothing and kept it there for 20 years, you would have made a lot of money. This is largely what you are doing by investing in broadly diversified index funds. For example, the brokerage Vanguard (my favorite for its low costs and ease of use) has an index fund of every stock in the entire U.S. stock market, VTSAX. Buy that index fund and you own the next Enron, but you also own the next Apple. And everything in between. This is a safe bet. Over time, you will enact a system of rebalancing your accounts to ensure you always buy low, sell high, and profit from the margin.
VTSAX is an index fund representative of the entire US stock market. It is often considered the ultimate index fund as it is broadly diversified and built for the long-term.
It’s a great way to invest your money.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Welcome to another episode of the Finance Flash Go! podcast. On this episode, we’ll talk about the Public Service Loan Forgiveness (PSLF) program.
Now, I am a big proponent of paying off your student loans as quickly as possible. This is how I am paying off my student loans as well. Our goal is that we need to pay these off in 5 years or less.
But there is also the PSLF program. And that may be an option for some physicians. But who?
Well, I could have taken advantage of the PSLF program because my training was 7 years, during which I could have made small income based repayments. Then I would only need 3 more years of repayments at a qualifying hospital to have the remainder of my loans forgiven. But I was ignorant and didn’t take advantage of this as a trainee. Now that my salary is much much higher, income based amounts are very high and any forgiveness, if at all, would be minimal.
So, in general, if you have a longer training period and/or have a low income/debt ratio (<1), PSLF likely will be a good option for you. If neither of those are true, paying off your debt via an approach like the one above is likely your best option.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Could a physician side gig be for you?! Let’s explore in this episode of the Finance Flash Go! podcast!
Passive income was a foreign concept to me just a short time ago. And physician side gigs? Why in the world would a doctor want or need a side gig?
The problem was that I was stuck in the traditional narrative that the way to reach financial freedom and true wealth was to work hard, ask no questions, and eventually you retire. But the issue with this way of thinking is that the concepts of saving, investing, and creating cash flow are completely absent.
Now…I am a huge fan of passive income and side gigs. I advocate for all physicians to pursue a side gig.
But first, let’s talk about what physician side gigs are not.
Side gigs are not endeavors to complicate your life or to further take time away from your family. Most doctors get squirmy thinking about a side gig because they don’t want to spend more of their time. In fact, they do the exact opposite.
The important thing when deciding to pursue a side gig is to establish the long term goals. My side gigs will allow me to practice medicine on my own terms, because I want to, not because I have to. They will give me MORE time with my family and for my personal well-being as they turn into passive income.
It’s true that side gigs may initially require a good amount of sweat equity.
In fact, a few months ago, my wife and I spent all Saturday painting our new rental property. I don’t mind doing that because I know that this property will pay me cash flow and build equity for the rest of my life. One active weekend is worth a lifetime of passive income and financial freedom.
In fact, passive income is really a misnomer. Nothing is completely passive. What you are looking to do is weaken the connection between your time and your money. You are used to trading your time for money. By creating “passive” income, your money makes more money that you trade for your time.
With that said…
There are a ton of awesome advantages to physician side gigs
• Create passive income AKA money you make while you sleep
• Diversify your income so that a decrease in one income stream does not create financial stress
• Increase your income!
• Decrease the amount of savings that you need to retire
• Pay off your debts faster
• Invest more
• Utilize tax breaks to your advantages
• Exercise your entrepreneurial muscles
• Treat yo’ self!
We will continue to explore specific examples in future episodes!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast will share the most passive and easiest form of real estate investing.
Real Estate Investment Trusts are basically investing in a mutual fund of real estate investments. These are available in nearly every brokerage. Real estate doesn’t correlate with stocks/bonds so this is a good, passive way to diversify. No traditional tax benefits with this type of real estate investing though.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast will teach you all about passive real estate investing.
Passive real estate investing is any investment into real estate that you make with your money alone. You contribute no “sweat equity” to the venture.
You simply hand your money to someone else (usually a group) and they use that money to invest in real estate. The most common forms of this type of real estate investing are syndications and funds.
In a syndication, you and a number of other people pool your money to buy and invest in one property. In a fund, you are contributing along with others to a large pool of money used to invest in many real estate investment properties.
If you performed your due diligence well with the passive investment that you choose, they do well and you receive a return based on the structure of your investment.
These investments can use Buy & Hold, Buy & Sell, Fix & Flip, or any other real estate strategy to turn a profit. They are all passive in this instance because you are not the one doing the work.
Sounds pretty sweet right?
Why I don’t invest passively in real estate (yet)
As you can see, there are advantages to passive real estate investing.
For one, you don’t have to contribute any sweat equity to the investment. You contribute your money and when the investment does well, you get paid.
The flip side to this, however, is that the performance of the investment is decidedly not in your control.
You had better be sure that you trust the syndication or fund that you are giving the money to. Because if the investment loses, you don’t get any profits and lose your money as well.
For this reason, it is extremely important to perform extensive due diligence on these investments before going into one.
The problem here is that any past performance cannot guarantee future performance and again, there is little control. These funds will often set out pro forma or expected returns. But these are really just guesses. They have no fiduciary responsibility to live up to these returns.
Lastly, the real money in these investments is going to the people who are putting in the sweat equity.
Of course, the active partners of the fund or syndication are going to set things up so that they see the majority of profits if the investment performs well. I mean this is really only fair. You’re paying a big tax in exchange for being able to be passive in the investment. And, while we’re on the topic of taxes, many of the tax benefits in active real estate investing don’t pass to you as a passive investor.
I’m not saying that passive real estate investing is bad. Many people do it very well, I just prefer an active strategy.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast covers physician mortgages.
Let’s start with basics. A mortgage is a loan from the bank. Various mortgage products are available. Most require a fairly significant down payment, anywhere from 3.5% for FHA loans to 25%. Many physicians do not have this kind of lump sum money sitting around to afford a mortgage right out of training. This obviously represents one of the reasons that renting your home right out of training is a much safer bet in general.
But physicians make a lot of money. And banks know that. And banks are not in the business of losing potential high income clients.
So, they created physician’s loans which are loan products that are offered to those with a high future income as documented by a signed contract or recent pay stubs. These products in general require a lower amount of money down (usually from 0-5%). The advantage of this for you is that less money is required up front. But the downside is that you have little to no equity in the house in the beginning. If you can’t make payments and/or need to sell, you are in big trouble.
Don’t be mistaken. Banks are not doing this because they are nice and feel for the plight of the doctor. They will tell you that you can afford a huge amount of house, way more than would be financially responsible. And they will tell you they can give it to you for little to no money down. Don’t fall for the trap. If you are going to use this product, use it to your advantage! For example, I got a house that was much less than 2x my income. I got it with 0% down and used the money that I saved in down payment to buy a cash flow rental property as an asset. Putting equity into your home to pay off a mortgage or lessen the amount of mortgage is a smart move. If you are not doing this, I highly recommend using that money as an investment and not spending it to appease lifestyle creep.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast is about buying your primary residence.
Buying a home out of training especially in my mind requires you to really have a strict set of criteria that you follow for it to be the right financial choice.
The reason that my wife and I bought our first home is multifold.
But the bottom line is that we set a budget of what we could afford, created criteria for what we were looking for, and kept emotion out of it (ok fine…emotions were involved but we acknowledged them and kept them out of the decision-making process).
First, we had created our written financial plan and budget before buying our home
A written financial plan and budget MUST come first.
The first things we factored into our budget were our “needs” and our savings, including loan payments. Once we set this number with a savings rate of 41%, we knew how much we would have for everything else, including PITI and other expenses for a mortgage.
Sure, you can use some rules of thumb in making sure you don’t buy too much house. The purchase price should definitely be less than 2x your annual income (ours is 1.2x our salary). Your annual mortgage to income ratio should be less than 28%.
These generalities are fine. However, I recommend setting a budget and knowing down to the dollar how much house you can buy. You’ll feel a lot more confident and relaxed in your decision.
Second, we set strict criteria for our home.
Much like with an investment property, we set criteria for the type of home that we were looking for. If a house didn’t meet this criteria, it wasn’t for us. Most home buyers let emotion dictate which houses they consider and like. We set these hard terms to limit the effect of emotion in our decision.
By following these criteria, we were selecting for a home that we knew we would want to stay for at least 10 years. As I’ve said before, the housing market is like the stock market – volatile in the short term but stably increasing in the long term. Buying a home that we were planning to live long-term, we maximized our chances of making a profit when we sold.
Also, by using a physician loan with 0% down, we would not need to sacrifice any savings or investments.
My wife and I agreed that if we didn’t find a house that fit these criteria, we would rent until we did.
Most importantly, I moved home.
This is probably the biggest qualifier of our decision to buy a house.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast discusses some important considerations with asset location!
The first account we’ll review is a taxable investment account.
This is the account that you probably think of when you imagine investing your money in the stock or bond market. This account does not carry any special considerations from the government or IRS.
Anyone can open one of these accounts by signing up for one on Vanguard (my recommendation), Fidelity, or any other brokerage.
In general, the money that you put into this account has already been taxed (post-tax money) and any money made in the account is taxed when you take it out via capital gains taxes (long term capital gains taxes for money left in the account greater than 1 year are less than short term capital gains taxes).
However, you can remove the money from the account at any time without a penalty. Other accounts, as you will see, have age limits for withdrawal. Take money out before a certain age limit and you will be penalized. This is not the case with taxable accounts.
In general, you will want to contribute the maximum to your tax advantaged accounts before contributing to your taxable account.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast will help you to set your own asset allocation!
Step #1 before you actually invest your money is determining your asset allocation.
Step #1 is where most people get hung up.
There are so many different asset allocations and we can get so worried about picking the right one. But the trick is to realize that there are no right asset allocations. There are also few wrong asset allocations.
The important thing is that you pick one and stick with it.
Let’s figure out one possible asset allocation right now. First, what percentage of stocks and bonds?
A good starting point is your age (rounded to nearest 10) for your bond percentage. I’m 32 so that would mean 30% bonds.
Now, think if you would like to be more or less aggressive. The further into the future that you are planning to need your money, the more aggressive you may generally be.
If you’re more aggressive, do less bonds. Less aggressive? Do more bonds.
Next, in coming episodes, we will learn how you want to split up your stocks.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast is all about the magic of compound interest.
Compound interest is magic. In fact, Einstein has been quoted as saying it is the most powerful force in the universe. It never rests. It can be working against you or for you. It works against you in the form of interest on debt. It works for you in the form of yield or return on investments. The sooner you can have it stop working against you by paying off debts and get it working for you by investing wisely, the sooner you will reach financial freedom!
How magic is it? Well, if you invest $25,000 a year starting at age 25, planning to retire at age 60, and get a 7% annual net yield, you will have $3.5 million at age 60.
If you did the same thing but started at age 35, ten years later, you would only have $1.5 million at age 60.
That’s a $2 million difference!
Does that not seem like THAT big a deal? Well, based on the 4% rule for safe withdrawals in retirement, you will be living on an annual “salary” of only $60,000 with a nest egg of $1.5 million versus a safe annual withdrawal of $138,000. That is a big difference.
So, this is to illustrate that the sooner you take advantage of compound interest in your favor, the better off you will be. In fact, when you start earlier, the amount that you save is way more important even than the return rate that you get from your investments. And the amount you save is 100% absolutely under your control! Towards the end of your savings career, return rate becomes more important if you had not started saving earlier. So make it a point to start learning about the different investment vehicles out there that can help you start taking advantage of compound interest right now!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast is all about the magic of compound interest.
Compound interest is magic. In fact, Einstein has been quoted as saying it is the most powerful force in the universe. It never rests. It can be working against you or for you. It works against you in the form of interest on debt. It works for you in the form of yield or return on investments. The sooner you can have it stop working against you by paying off debts and get it working for you by investing wisely, the sooner you will reach financial freedom!
Just a basic primer on why compound interest is so awesome. Let’s say that you have $10,000. You can hide it under your mattress for 30 years and you will have…ta da…$10,000.
But, let’s say that you invest this $10,000 in an investment vehicle, let’s say a total market index fund, that returns 7% net yield every year. So, after one year it yields 7% of $10,000, or $700. Now you have $10,700. Pretty good. But…the next year, year 2, it yields 7% not of $10,000 but of $10,700 and so on and so forth for 30 years. So, after 30 years you would have about $76,000! Now let’s imagine you put in $10,000 every year instead of just the first year, you would have about $945,000! Not we’re talking. If you had just saved this money and not taken advantage of compound interest, you would have only $300,000 or $10,000 x 30.
That.is.magic.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast shares tips for keeping your emergency fund safe.
Your emergency fund is a stash of money that represents 3-6 months of your average expenses. Your emergency fund is money that you could need at any time. For an emergency. Its even in the name. Invest it somewhere safe. This fund is kept in a safe place, like a high yield savings account, so that it can be accessed and used easily when it is needed, in an emergency. This emergency fund will keep you from needing to take out more debt or extend credit for things like car repairs, a broken furnace, or a pandemic that results in decreased income for an extended time period.
So, this really becomes one of, if not the, top financial priority for you.
Having an emergency fund is like a life preserver for the crazy things that no one can predict. Too many physicians found this out the hard way with COVID. Make an emergency fund a priority.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go! podcast will talk about your emergency fund AKA the most important fund you have.
One of the first things that you need to do with the at least 20% of your income that you are saving is to establish an emergency fund. This is done before you start investing your money. Your emergency fund is a stash of money that represents 3-6 months of your average expenses. This fund is kept in a safe place, like a high yield savings account, so that it can be accessed and used easily when it is needed, in an emergency. This emergency fund will keep you from needing to take out more debt or extend credit for things like car repairs, a broken furnace, or a pandemic that results in decreased income for an extended time period.
So, this really becomes one of, if not the, top financial priority for you. The only time I would contribute savings elsewhere such as debt paydown or investing before beginning to establish your emergency fund is if you have outstanding high interest consumer debt. This is an emergency already!
For example, my initial budget called for ~$3000 a month to establishing our emergency fund. However, this was altered to but at least half of that towards our consumer debt until it was gone.
Having an emergency fund is like a life preserver for the crazy things that no one can predict. Too many physicians found this out the hard way with COVID. Make an emergency fund a priority.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This epsiode of the Finance Flash Go! podcast will talk about financial advisors and if you need one to manage your money.
I think this a question on a lot of people’s minds, especially as they transition to and are a young attending physician.
My answer is pretty simple, you do not need a financial advisor to manage your money as a physician. How can I say this so boldly, because I went from financially clueless to managing my own finances within a few months. I am not special, if I can do it, so can you. It’s largely about mindset, you have learned so many more difficult things than the basics of investing your money. You can do it!
With that said though, I am not opposed to someone paying a fair price for good advice from a financial advisor.
But you do have to be able to generally tell good advice from bad advice as well as what a fair price is for this to work. So, you need to be educated regardless. Honestly, by the time you are educated enough to tell this difference, you are also educated enough to manage your own finances.
Regardless, let’s review some things to know about financial advisors in case you decide to use one. You should interview the advisor and don’t take it easy on him or her. This person is managing your money, the money that you earned after spending countless hours studying, not sleeping, and helping patients. Don’t throw it away.
You will want to ask how they make their money. If they tell you that you don’t pay them or you don’t understand their answer, run away. This means that they are paid by commissions they make from selling you bad investments.
If they tell you they get a percentage of what you make, it’s worth learning more and perhaps negotiating a bit. A usual fee is 1% of assets under management. This means that they get 1% of your total investments with them. At least with this model, your goals are aligned, if you do well, they do well. But once your portfolio gets greater in value, are they really working harder to deserve to get paid more?
The best fee structure is a flat fee service where you pay a flat fee for the work that your advisor does. There are those out there who do this so look for them or contact me for a recommendation.
Ask your potential advisor what their investment strategy is. Do they think they can beat the market by actively managing your money. There is an 80% chance that they cannot do this while this strategy will cost you money in taxes and fees. They should be proponents of or at least open to managing your money with passive low cost, broadly diversified index funds.
Also make sure that you like them. If you get a bad feeling, don’t go with them. It’s not worth it.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This epsiode of the Finance Flash Go! podcast will teach you the pinciples of budgeting made simple
Here is how you create your simple budget:
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Come up with a list of broad categories of expenses (i.e. rent/mortgage, groceries, entertainment, taxes – don’t forget taxes, etc.)
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Do NOT make one category “Amazon.” You need to break out what exactly you are buying at Amazon to avoid this becoming a black box.
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Label each expense category as a need or a want
- Go to your bank account(s)/credit card(s) and put every single expense from the past month (1st of month to 1st of month) in an expense category
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Add up the total for each expense category
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Add up the grand total for the month and make sure it is less (or at worst equal to) your monthly income
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Do you have enough left over to save for your financial goals?
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If yes, great! If no, what can you adjust to make this happen
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Aim for a savings rate of at least 20% - this can include debt payments and establishing an emergency fund
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Now, go through each category and decide how much you can spend while still reaching your goals
Done! Easy!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This epsiode of the Finance Flash Go! podcast is all about saving your money!
This podcast is all about the basic strategies to achieving financial freedom though, which by definition is all you need. I say this to emphasize that what I am going to share with you is a very simple recipe to achieve financial well-being and a safe retirement.
Save 20% of your gross income.
Do this and invest safely as I will teach you and you will be almost assuredly set.
For example, we can determine that we would need to save $50,000/year for 30 years assuming a very conservative 5% return to live on $120,000 annually in retirement.
If your annual gross income is $250,000. This is right around the median (actually a bit below) average physician income in 2020.
So just about every physician should be able to do this, and really even do a lot more.
So, as we go into the new podcast episodes on creating a budget and a savings plan, keep this 20% savings rate as a baseline goal.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This epsiode of the Finance Flash Go! podcast is going to cover estimating how much money you need to retire.
How much of your retirement savings can you take out for living expenses each year in retirement without running out of money? That’s the biggest piece of the puzzle to estimating how much of a nest egg you will actually need.
A classic financial study demonstrated that if you withdraw 4% of your retirement savings each year during retirement, your nest egg will have the best chance of living as long as you do. This means you will not run out of money before you die. You withdraw 4% per year and the rest of the money is working for you in your investments to keep replenishing so that you have enough for the golden years.
People are usually surprised at this concept as they imagined that they would be able to withdraw a higher amount per year – I know I was!
This allows us to create a magic equation for retirement savings.
Once you have figured out your goal yearly expenses for retirement ($X) and a safe withdrawal rate (4%). The following simple equation will then allow you to compute how much of a nest egg you need:
4% = $X/Nest Egg
So, say you predict your monthly expenses to be $10,000. Your desired yearly withdrawal amount is then $120,000 ($10,000 x 12).
Some back of the envelope math will show you that you then would need a nest egg of $3 million ($120,000/4%). Also 25 x amount you want/year. Was this more or less than you were expecting?
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This epsiode of the Finance Flash Go! podcast is about maybe the most importanta nd also intimidating part of your financial plan…student loan management!
So, we will now address debt paydown and student loans. I’m going to start generally by emphasizing that paying off debt is the most important thing that you can do to boost your financial well-being and advance towards financial freedom. That’s because this really is the first step to financial freedom. You need to stop taking on new debt and get rid of any and all debt you have. Look, when you are in a hole the first step is to stop digging. Then start climbing out. You can’t run until you get out of the hole. So, this is a huge thing that should definitely be at or near the top of your financial priority list that will go in your financial plan. Each $1 you use to pay off debt is $1 that your net worth increases.
That’s what I am doing now. Every month, I throw huge sums of money at my debt.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
The topic on the Finance Flash Go podcast today is an important one! It's all about an overlooked but very important aspect of your contract negotiation.
Learn your benefits, they are part of your salary!
Another overlooked aspect of contract negotiation is making sure that you have a comprehensive understanding of the benefits offered by your employer. Your benefits package makes the difference in tens of thousands of dollars but most people don’t even learn about them until after signing the contract. Ask to speak with a benefits representative during your interview or on the phone.
Find out what tax protected retirement accounts are offered and specifically if the employer offers a match. Let’s say the employer will contribute up to $22,800 to a retirement account like mine. That’s $22,800 additional money that will grow tax free via compound interest that is basically a part of your contract. As an aside, make certain that you contribute enough to your retirement account to trigger the employer match. Failing to do so is leaving money at the negotiating table.
Also find out if your employer offers a Health Savings Account (HSA). I won’t go into detail about HSAs here, but in brief, it is one of the very few triple tax free investment vehicles and is a nice advantage if they have one (my employer does not).
Learn if your employer offers group malpractice, disability, or life insurance and how much it covers. This will reduce or eliminate the need to buy expensive individual policies on your own dime. The malpractice insurance that my group offers is so strong that I did not need an individual policy. The life insurance, however, was minimal and no group disability is offered so I did purchase these on my own.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Now we are going to talk a bunch about mindset and specifially money mindset here on Finance Flash Go. But I’m gonna cut right to the chase today. You and your mindset need a “big why” to be financially successfull. Let me show you today on the Finance Flash Go podcast!
Remember, your big why, your overarching goal is going to guide you to success, pushing you through the good times and pulling you through the difficult times.
It is the reason that you are listening to this podcast.
So, take some time alone or with your partner to really think about what it is that you want.
My wife, Selenid, and my big why is that we want to achieve financial freedom with a focus on improving our overall well-being to be able to chase our passions on our own terms while maximizing our time with our children, friends, and family.
I can’t tell you in just the short time since we have been on this journey how many times we hit a tough spot where it would be much easier to just take a shortcut or even give up. But this why keeps us constantly moving, it pulls us through the mud until we are back on solid footing.
Write your why, your overarching goal(s) down. Keep it somewhere that you will often see it and it can remind you of why you chose the path less travelled, the path to financial freedom and success. Don’t worry about making it perfect, there is no such thing. The important thing is just that you get it out of your head and into the world!
This is the most important and most challenging step of the whole process!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Income is obviously a big part of your personal finances. And for income, you will likely get a doctor job. But how do you find the perfect job? I have a very special formula that I am going to share with you on the Finance Flash Go podcast, starting now!
Ok this is a lot of fun. For a lot of you, this will be the first time that you are hitting the open market as a free agent, working on finding your first job. For others, you may be looking to improve your current situation.
Regardless, the first step is not looking at what is out there but really to look inside and create your perfect or ideal job.
Too often we think of the jobs we want in terms of the jobs that we know are out there. I know that I did this. Until I saw someone who I really respected in the field who was doing their own thing and was super happy. They were still really well respected; they didn’t fall off the map because they were in a “nontraditional position.”
It made me realize that the happiest attendings I saw tended to be those that formed their ideal job in their mind and then looked for the job that best fit this description. The least happy attendings seemed to be those that just looked for the jobs that they knew about or that they felt others thought were the best or most prestigious without regard for what they actually wanted.
So, what I want you to do now is to think of your ideal job. Don’t worry about how feasible or realistic you think it is, just in a perfect world, what would your job look like? Are you clinical or research focus? How much money do you make? What types of patients do you see? How many days a week?
What are you colleagues like? How are you compensated? Salary? RVU? Profit and loss? Where is the job located?
This is the first step!
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
When it rains, you need an umbrella for protection. You also need umbrella insurance to protect you from above policy limits litigation. Find out more in this episode of the Finance Flash Go podcast!
Umbrella insurance is insurance that covers any and every claim that could go against you and exceed your policy limits. It’s like an umbrella in that way.
So, let’s say that your car insurance has a bodily damage limit of $250,000 like mine. And you get in an accident and someone sues you for injuries for $500,000. If there was a successful judgement against me, my umbrella insurance would cover the extra $250,000. Same with a malpractice or home-based suit that exceeds your limits. It’s actually kind of rare to have a suit against you, even a malpractice suit as a physician, that exceeds your policy limits. But umbrella insurance is so cheap that I recommend getting it. For instance, I have a $5 million umbrella policy for $395/year.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
A malpractice suit against you can be a financial catastrophe. That's why you need to protect yourself with malpractice insurance. Find out more in this episode of the Finance Flash Go podcast!
Malpractice insurance is expensive but a bit less complicated than disability insurance. Basically, you want to make sure that your malpractice insurance carries high enough coverage. Generally, you want $1million/$3 million in coverage. The cost of suits can add up but having a decision made above these limits is also rare.
There are also two types of malpractice insurance. Claims based malpractice insurance determines who is responsible for paying based on when the claim was made. For example, if you worked at one hospital with one malpractice insurance in 2015 and now and you work in a different hospital and are sued by a patient from 2015, the old policy would not cover it. That is because they base things on when the claim is made. If you have this type of policy, you need to buy tail coverage for when you leave the job to cover claims made after you leave. It is expensive but not worth the risk not to have it. Occurrence based coverage is based on when the incident in question occurred. Therefore, in the above scenario, the old malpractice insurance would cover the claim since the occurrence was in 2015 when you had that insurance. Occurrence based in obviously better.
Many group policies will be available based on your job. Again, talk to your HR rep to get all of the details about the policy. If they are not covering you at all or adequately enough, you will need to buy malpractice insurance on the market.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
Do you need life insurance? This episode of the Finance Flash Go podcast will help you answer this question!
Life insurance can be very important. Life insurance is insurance that will pay out to your loved ones (beneficiaries) if you pass away. Therefore, if you have anyone depending on your income like a spouse and /or kids among other possible dependents, you need life insurance.
Before we move on, one important distinction needs to be made. You are looking for term life insurance. This is life insurance offered over a time period or term. If you die within that time period, the policy will pay out. The policy ends after the term is over. Let me repeat this is what you want, term life insurance.
You do not want whole life insurance. This is a combined insurance-investment product that 99.9999% of physicians do not need. It lasts your whole life and for most of the time, your policy is not even worth the premiums you pay. These are products meant to be sold not bought and salespeople therefore make a fat commission when they get someone to buy it. Do not buy whole life insurance, especially as a young trainee or attending.
OK, back to term life insurance.
The good news is that the term life insurance landscape is pretty easy to navigate. It is basically a commodity so you just price out the options from various reputable companies and choose the cheapest one with the terms you want. I recommend using an independent broker that works with many companies to help you. Find such brokers on the Recommend page of The Prudent Plastic Surgeon. To apply, you will need your basic demographic information, a list of all medications, as well as a list of all doctors you currently see. Have this information ready to expediate the process. Once you apply, you will need to supply some information and generally take a physical. Once this is done, they will grant you the policy.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
In this episode of the Finance Flash Go podcast, we'll chat about disability insurance.
Disability insurance can be tricky.
Ok, disability insurance. This is insurance that you pay so that if you become disabled and cannot work anymore, the policy will pay you enough money such that you can keep living your life. It is much more expensive than life insurance but is completely necessary. Disability is a financial catastrophe. You need to be protected against it.
But how much disability insurance do you need? To find this out, calculate your monthly expense, minus tax because the policy payout is tax free generally. You need your policy to be able to cover at least this amount of monthly payment. Once you know how much insurance you need, decide on the delay after disability before the insurance policy is paid to you. You should have an emergency fund of 3-6 months expenses so you can reduce your premium by choosing a longer delay period.
Next, you need to figure out what terms and riders you want on the policy. First, your policy NEEDS to be own-occupation. This means that if you are a surgeon and get hurt and can’t perform the duties of your old job anymore, you get paid. You still get paid even if you are able to work as an intensivist, let’s say. This is important.
You also ideally will get a policy that is non-cancelable. This means that as long as you pay your premium, they cannot cancel your policy or raise your rates. Less ideal options are guaranteed renewable (they have to renew the policy but can raise the rates if they do so for all customers in your demographic category) and conditionally renewable (they can cancel the policy anytime they like).
In terms of riders, you will generally want to include a
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Cost of living adjustment rider to keep your policy up with inflation
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Partial disability rider to cover some of your monthly costs if you become disabled, can work, but cannot make the same amount of money as before your disability
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A future increase option that allows you to increase the amount of coverage in the future for a commensurate increase in premium price
Similar to life insurance, to apply, you will need your basic demographic information, a list of all medications, as well as a list of all doctors you currently see. Have this information ready to expediate the process. Once you apply, you will need to supply some information and generally take a physical. Once this is done, they will grant you the policy.
Also, I will note that some jobs offer group disability insurance. This is usually insurance that your employer has negotiated with a company that is not individualized to you. Some can be good, some not so good. You can supplement group with individual disability insurance. TSpeak with your HR person to get details before speaking with a broker to get the most objective information.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer. While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go podcast is all about active versus passive investing. Which is best?
Actively managed accounts underperform passively managed funds 80% of the time. And, there is no way to predict ahead of time which actively managed funds will be in the 20%. Your advisor thinks she is smarter than the rest and can beat the 80%. She can’t.
My stock portfolio is comprised of passively managed index funds that are designed to approximate the market average, not chase waterfalls. I’ll take an 80% chance versus 20% any day of the week.
Further, fees in actively managed funds are going to kill you. There’s a saying in Wall Street: “In investing, the goal is for the investor, the advisor, and the brokerage to win. But, two out of three ain’t bad.” Guess who they’re leaving out of this equation?
Your advisor wants to get paid. They get paid based on how actively they manage your investments. Each move is made using their extensive knowledge and training and you must pay for that expertise. Even if it loses 80% of the time…that’s equivalent to hitting below the Mendoza line for all the baseball fans out there. Most advisors charge an AUM (Accounts Under Management) fee, usually 1%. Doesn’t seem like much. Until you realize that your 8% yield just became 7%. Over an investor’s career, that’s equal to hundreds of thousands of dollars.
If you are looking for a winning formula, take 20% of your income as savings and invest it passively in broadly diversified, low cost index funds.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go podcast is one of my favorite topics, index funds!
An index fund is a collection of stocks strategically picked to mirror some index marker of the overall stock market. For instance, the S&P 500 is an index with a collection of stocks thought to give a good sense of the overall market. (Is the market going up or down?, etc.).
An index fund will mirror the movement of the index that it is based on. Betting on the whole stock market is a much safer bet. Over the long term, the overall stock market has always gone up. If you put money in the overall stock market at any point in history and just did nothing and kept it there for 20 years, you would have made a lot of money. This is largely what you are doing by investing in broadly diversified index funds. For example, the brokerage Vanguard (my favorite for its low costs and ease of use) has an index fund of every stock in the entire U.S. stock market. Buy that index fund and you own the next Enron, but you also own the next Apple. And everything in between. You will be investing in the innovation and entrepreneurial spirit of humankind.
Now, you may want to also bet on the global economy in addition to the U.S. economy. So you can buy a broadly diversified international stock index fund.
Hmmm…still feeling like you’re taking on too much risk by putting all of your savings into stocks, even though you’re not planning to need it for 15-20 years. No problem. You can buy a bond index fund just the same way as a stock index fund. The performance of bonds does not correlate with the performance of stocks, so you are now diversifying.
Lastly, you’ve heard that real estate is a smart investment but aren’t ready to buy a rental property. We still have you covered. You buy a REIT (Real Estate Investment Trust) index fund. This is essentially a fund representing ownership in a collection of real estate investments. REITs behave differently than stocks AND bonds, so you are even more diversified.
Over the long term, you know that your investments will rise because you are smart and bet on the ingenuity of humankind rather than try to stock pick or time the market, which no one in history has been able to do reliably.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go podcast discusses mutual funds.
A mutual fund is a collection of stocks that some financial "expert" puts together that she or he thinks will perform very well i.e. the value will overall trend upward. This is a form of active investing in which you or someone tries to pick the best stocks and time the market, meaning choose when the stocks will go up or go down.
Unfortuantely, active investing has shown to not work. Passive investing is better. In fact, by managing your portfolio passivel), statistics show that you have a portfolio that is better than 80% of people in any given year who try to actively “beat the market.” Can you believe that people pay more (in advisor fees, transaction fees, and taxes) for active investment management?
Pay more to do worse. That’s a losing hand.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go podcast is all about bonds including what they are and how many you need.
A bond is basically an IOU from the government, a corporation, or other entity. You give them money and they promise you to give that amount of money back with a fixed interest rate at a later date (called the maturity of the bond, like 5 years, 7 years, or whatever).
A stock is a part ownership in a company. You buy one share and you become an owner. Each share has a price tag when you buy it that changes based on various and, at times, arbitrary factors as they are traded in the stock market. If the price goes up, good for you, you just made money. If it goes down…not so lucky.
Bonds are considered safer investments in general. You will likely want to have both stocks and bonds in your portfolio. The more bonds you own, the more conservative and less risky the portfolio is. However, the expected returns are lower in return. A good rule of thumb is to take your age and round down to the nearest 10. This is the percentage of bonds that you will want to have.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode of the Finance Flash Go podcast answers an important question: What has the stock market done over the long term?
And the answer is...Over the long term, the overall stock market has always gone up!
If you put money in the overall stock market at any point in history and just did nothing and kept it there for 20 years, you would have made a lot of money. This is largely what you are doing by investing in broadly diversified index funds. For example, the brokerage Vanguard (my favorite for its low costs and ease of use) has an index fund of every stock in the entire U.S. stock market. Buy that index fund and you own the next Enron, but you also own the next Apple. And everything in between. This is a safe bet. Over time, I'll show you how to enact a system of rebalancing your accounts to ensure you always buy low, sell high, and profit from the margin.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!
This episode is an introduction to the Finance Flash Go Podcast where we provide a question and answer style show every weekday!
The Finance FlashGo Podcast is a podcast co-produced by Plastic Surgeon Dr. Jordan Frey, Family Physician Dr. Neel Desai, and Psychiatrist Dr. Taylor Brana. We also want to give thanks to Atrik Patel for aiding us in content production for this amazing show. One challenge that many people face is that they never learned the proper methods of creating and sustaining wealth. While we all may hold different ideas of what it means to be wealthy, learning lessons about finance is a way you can help yourself, your friends, and your family. Being financially savvy may not be the answer to everything, but it is an important aspect of leading a happier and peaceful life.
Coming from a background in medical training, there was no one throughout the process who taught us the important life skill of being financially savvy. This podcast will bring you a question and answer format where we hope to tackle important aspects of becoming more financially knowledgeable.
Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey’s blog prudentplasticsurgeon.com where he gives great financial advice.
A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner’s responsibility to due their due diligence before making important financial decisions.
We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!