Episodes
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Today, Jon Appino talks about two stories from clients to illustrate this.
First, a physician didn't review her current contract before accepting a new job. She thought she had everything covered but overlooked a policy that cost her nearly $100,000 in bonus pay. This highlights the need to review all contracts thoroughly.
Second, another physician accepted a job offer with a risky salary agreement. Despite our warnings, he signed the contract and now finds himself unhappy and potentially owing a substantial repayment.
These stories emphasize the importance of understanding every detail of your contract, both when leaving a current job and accepting a new one. Contracts are complex, and thorough review can prevent costly mistakes.
Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
This week with Doug Crouse, we're discussing common mistakes people make when buying a house, especially their first one. The biggest mistake is shopping for homes without securing financing. Getting a pre-approval is crucial as it gives sellers confidence in your offer. Itâs not a quick process, so plan ahead.
Another common error is neglecting to thoroughly research the neighborhood. Location is vital; a great house in a bad area can lead to regret. Also, remember that no house is perfect. Focus on finding a home that meets most of your needs, and be open to making improvements over time.
Lastly, when viewing multiple houses, use a process of elimination to narrow down your choices. Compare each new house to your favorite so far, making it easier to decide.
For more details, reach out to me at www.dougcrouse.com or www.dougcrousephysicianloans.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Infidelity of any kind can wreck a relationship. Behavioral financial planner Shane Tenny talks about financial infidelity, which is more a betrayal and breach of trust than a conflict about the money itself.
He explains what it is, how to spot it, how to avoid it and how to recover from it. You can also read his blog on this topic at https://www.sdtplanning.com/blog/financial-infidelity-its-not-about-the-money-its-about-trust.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
In this episode of the Physicianâs Guide to Wealth Podcast, James continues his financial wellness 101 series. in this episode, we explore the essential financial indicators for physicians. James provides actionable insights to help you thrive on your unique medical journey by understanding and leveraging your financial vital signs. Whether youâre a seasoned practitioner or just starting out, these vital signs will guide your financial decisions.
Tune in and discover the keys to financial health.
Click here to access your free financial wellness 101 playbook
Advisory services offered through Commonwealth Financial NetworkÂź, a Registered Investment Adviser.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
In this inaugural episode of the financial wellness 101 series, James takes you on a journey to âget it together foreverâ financially. Imagine stepping into the shoes of a brand-new IM Wealth client, guided by James himself. No more cookie-cutter solutions from internet gurusâthis path is tailored to your terms.
As technology and AI reshape our world, James warns the importance of understanding your motivation. Why take control of your money? Beyond fleeting enthusiasm, discover what sustains you when the initial spark fades. Motivation wanes and just how the gyms fill in January and empty in February every year⊠You must discover what will keep you going after that initial motivation wanes. This IMPACT primer helps you unearth your deeper purpose, empowering you to master your financial vital signs.
Tune in and embark on a transformative financial journeyâone that aligns with your unique aspirations.
Click here to access your free financial wellness 101 playbook
Advisory services offered through Commonwealth Financial NetworkÂź, a Registered Investment Adviser.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
In this episode of Contract Diagnostics, Jon discusses the importance of regularly reviewing compensation data with a case study involving a physician named David. David, who annually reviews his compensation using Contract Diagnostics' tools, faced a challenge this year when his employer refused to increase his compensation despite data suggesting he deserved an 8% raise. The employer cited a different data set, leading to a standstill.
Jon emphasizes the need for transparency and routine discussions between employers and employees about compensation reports. He advises asking for detailed reports to understand discrepancies and considering the broader context of compensation, including factors like call duty, case volume, and administrative tasks.
Jon also highlights the value of having competing job offers as leverage in negotiations. If faced with resistance, Jon recommends persisting in requesting transparency and utilizing resources like Contract Diagnostics for support.
Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Today's episode is a special edition featuring a guest from the industry. Join me in welcoming Cole Griggs from Regions Bank. Cole and I often collaborate to find the best mortgage solutions for our clients, and today, he'll share insights on what makes Regions Bank unique.
We'll dive into the states Cole covers, including many in the South and Midwest, and explore Regions' professional loan program for various medical and professional fields. Cole will also provide his contact information and discuss how his programs differ from ours at BMO, particularly for clients with lower credit scores or unique financing needs.
Tune in for an in-depth discussion on finding the right mortgage fit and learn more about our industryâs collaborative approach to serving you best. Don't miss out on this informative episode!
You can reach Cole here: (317)446-0904
Email - [email protected]
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
In this episode, Doug Crouse delves into the specifics of adjustable rate mortgages (ARMs). I'll explain what a 10/6 ARM is, how these loans are amortized over 30 years, and the importance of the margin and index in determining future rates. We'll also cover the significance of rate caps and how they protect you from drastic interest rate changes.
For more details, reach out to me at www.dougcrouse.com or www.dougcrousephysicianloans.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Elizabeth Landry founded The Med Commons to help physician spouses and partners navigate life in the world of medicine. It can be lonely and isolating at times. Nonmedical friends may not understand the burdens placed on the partner who is trying to hold the family together when the physician partner is working 80 hours per week. They may think the physician family is so lucky when really they are saddled with $350,000 in debt and are juggling money to pay bills during residency.
Elizabeth is trying to bring physician families together so they have community. She is working with residency programs to incorporate physician spouse/partner programs into their wellness programs as family happiness equates to physician happiness, which can help with overall satisfaction, recruiting and retention.
She even has a friending app to help people find others within 50 miles who may understand and be navigating a similar pathway so they can connect. You can learn more at www.TheMedCommons.com. You can also find them on Instagram.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
We all know it's important to save for our future, but what about today? It is equally important to live our lives in the here and now. As physicians, our time is precious.
This episode is to remind you that it is OK to buy back some time so you can enjoy those people you love, recover from a hard week at work or whatever it is that brings you joy.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Join Doug Crouse as he discusses the intricacies of rate locks. Most lenders don't offer a lock and shop, meaning your pre-approval comes with a floating interest rate placeholder. The first opportunity to lock your rate is when you provide a purchase contract with a close date.
Exceeding this rate lock can become costly, so it's crucial to consider the duration carefully. Particularly in new construction, where delays are common, padding your rate lock can save you money.
Rate locks are a two-way commitment between you and the lender, so understanding the balance between interest rates and closing costs is essential. Join me as we explore these topics and help you make informed decisions about locking your mortgage rate.
If you have questions, Doug is available at DougCrouse.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
James Nutter dives into whether you need a financial advisor by introducing a four-step "value equation" inspired by Alex Hermozi. James emphasizes the importance of assessing your dream financial outcomes, your confidence in achieving them alone, the efforts and sacrifices required, and the time it might take. By reflecting on these aspects, you'll gain clarity on whether professional financial help is right for you.
The episode also touches on the benefits of having specialized coaches for various aspects of life such as fitness and nutrition, comparing self-managed approaches to professional guidance.
If you have any feedback or topics you would like covered, please email James at [email protected]
Advisory services offered through Commonwealth Financial NetworkÂź, a Registered Investment Adviser.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Join Jon as he dives into the nuances of employer compensation structures and the importance of understanding when and how these changes occur. Learn how to proactively engage in compensation discussions, leverage the latest MGMA data, and craft a compelling case for your value.
Whether youâre negotiating a new contract or preparing for an upcoming review, this episode provides essential insights for maximizing your compensation package.
Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
In this episode of the Mortgage Minute, host Doug Crouse discusses crucial aspects of real estate contracts that can jeopardize your down payment, with a focus on earnest money. Learn why earnest money isn't always refundable and the risks involved in waiving loan contingencies.
Doug provides essential tips to protect your earnest money and navigate the home-buying process more securely. Tune in to ensure you're making informed decisions when buying a home.
If you have questions, Doug is available at DougCrouse.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Many physicians are interested in diversifying their portfolio with passive real estate investing. Charles Clinton joins us to talk about the risks and benefits of alternative investments with a crowdfunding platform as both the real estate owner and lender.
We explore how current interest rates are affecting investments, tax benefits of real estate and how fractional real estate ROI is distributed. You can learn more and sign up for free education at www.EquityMultiple.com.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Hey everybody, it's Jon again with Contract Diagnostics. Today, we're diving into the topic of physician burnout and how it's impacting contracts. Employers are now implementing various strategies to combat burnout, such as increased vacation time, support programs for physicians and their families, and more structured work hours. It's crucial to have thorough discussions about your work schedule and support options with your employer.
For any contract-related advice, reach out to us at Contract Diagnostics.
Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
** if you didnât already, tune into the 3 Simple Summer Money Hacks Episode**
James Nutter breaks down a game-changing framework to help physicians achieve their financial goals, adding a powerful fourth step to his previous three summer money habits. James introduces the meaningful goal-setting model, personalized for each physician's unique journey.
He navigates through goal identification, setting smart deadlines, prioritization, and the importance of visualization and accountability. Dive in to discover how to stay financially on track, avoid burnout, and live a fulfilling, present life while aiming for future financial success. Listen for actionable insights and practical advice.
7 Part Meaningful Goal Setting Framework.
identify your goals - things you want in life.
Places you want to go
Things you want to do
Things I want to have
next 12 months
next 3 years
next 5 years
write them down and share them with others - how much would it cost? vision board.. what am I staring at in the face every day?
Identify what challenges could come up
set deadlines - if thereâs no deadline itâs just a dream
prioritize your goals - items of wants and needs in a logical order
visualize your goals - picture yourself accomplishing the goal.
be persistent
With your new commitment to financial wellness and investing back into yourself what kinds of things do you want more of?
What new lifestyle things will you want?
Investments
Real Estate
Kids College FundsRetirement planning
Experiences
Loans
Travel
Car
House
Luxuries
Country Club
Training / Events
New Healthy Lifestyle choices - join x gym
What does a meaningful life mean to you?
Cost to create your new meaningful life.
A. Cost to live per month - complete circulatory cash flow system training (use rocket money $8/mo to help you or budget tool in emoney)
B. Current take home monthly income.
C. Difference Between A & B. You either have a surplus or shortage.
D. Monthly Cost to accomplish the goals you wrote above (I.e. $1,000/mo in additional vacation, $600/mo car payment, etc.).
E. Add C&D. Your current need (or deficit) + Your vision.
F. What is your projected future monthly income?
H. Projected Surplus (or shortage). Subtract F minus E.
I. What else would you like to do with your surplus? If you have a shortage, what else can you do to make more money and reach your goals?
Now visualize your meaningful journey. What will life be like at the new level?
Current lifestyle - what does your current life afford you.
Investments
Loans
Retirement funds
Kids college
Real Estae
Car
house
bills
luxuries
vacations
country club
self care
gym
NEW LIFESTYLE - what my life will look like at this level
what will I improve.. what will I do different
Investments
Loans
Retirement funds
Kids college
Real Estate
Car
house
bills
luxuries
vacations
country club
Self care
gym
Advisory services offered through Commonwealth Financial NetworkÂź, a Registered Investment Adviser.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
In this episode of "A Life Well Lived: A Physician's Guide to Wealth," James Nutter discusses the importance of hiring a financial planner and the different standards that financial advisors are held to.
He emphasizes the fiduciary standard, which requires advisors to act in the best interests of their clients, and contrasts it with the suitability standard, which allows advisors to prioritize their own interests.
Nutter also explains the key licenses and certifications that fiduciary financial advisors should hold. Tune in to learn how to choose the right financial advisor for your needs.
Timestamp
Summary
0:07
Unveiling Financial Advisors' Confidential Earnings and Practices
1:16
How to Decide Whether to be a DIY or Hire a Financial Planner
4:37
Understanding Fiduciary Standards in Financial Planning
10:57
Comparing Fiduciary and Suitability Standards in Advice
12:25
Verifying Financial Advisors' Credentials Through BrokerCheck
13:48
Understanding Fiduciary Financial Advisor Licenses and Certifications
19:43
Choosing the Right Financial Advisory Path
Advisory services offered through Commonwealth Financial NetworkÂź, a Registered Investment Adviser.
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
This week Doug Crouse discusses the importance of managing your funds for closing. It's vital to avoid consolidating money right before closing due to potential bank holds. If you do need to consolidate funds, do it well in advance. Avoid moving large sums into a new bank account without transaction history, as this can appear suspicious and cause delays. Ensure the funds are in an account with established history to prevent issues. Thanks for listening, and we'll talk to you next time.
If you have questions, Doug is available at DougCrouse.com
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This episode is brought to you by Equity Multiple. Dedicated to assisting physicians in simplifying their investment journey, Equity Multiple enables passive investment in vetted, professionally managed commercial real estate. Learn more at www.equitymultiple.com.
Jon from Contract Diagnostics provides an update on the FTC's non-compete rulings as of June 5th. The FTC recently voted to eliminate non-competes in the United States, though the decision faces legal challenges. While this affects around 30 million Americans, only about 500,000 to 600,000 are healthcare providers.
Jon outlines key dates and timelines for ongoing legal proceedings and emphasizes the importance of renegotiating contracts proactively. He advises physicians to understand their current agreements and prepare for potential changes, while employers should focus on retaining top talent. For more information and assistance, Jon encourages reaching out to Contract Diagnostics.
Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com
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