Wealth Planning for the Modern Physician

Welcome to the Wealth Planning for the Modern Physician podcast, where your host, David Mandell, JD, MBA addresses the most common concerns surrounding financial freedom and shares his tips for gaining independence. Listen in as David speaks with physicians, thought leaders, and industry experts about the steps they took to secure their financial futures, and lessons learned through their careers. In this opening episode, Sanjeev Bhatia, MD, joins the show to discuss investing, making informed job decisions, and more. You will learn the importance of viewing investing as a long-term game (and not being discouraged if you lose money in the beginning), why we must be careful not to overanalyze ourselves, and why the first job you take is not necessarily your perfect job.

You can find show notes and more information by visiting www.physicianswealthpodcast.com.

A second-generation physician, Jonathan explains why he became a plastic surgeon, his background in getting a master’s degree in public health, and his choice to become an employed physician out of fellowship. He and David discuss Jonathan’s decision to buy a private practice in San Francisco and everything that was involved in that transaction, including his use of an SBA loan and creation of a business plan. Jonathan then discusses the areas of wealth planning he handles himself, as well as the areas he delegates. Finally, Jonathan and David chat about why he created BuildMyBod, a tool that strives to create price transparency in health care. Jonathan covers what this new venture offers physicians and valuable lessons he has learned from this business.

You can find show notes and more information by visiting www.physicianswealthpodcast.com.

Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.”

Episode 1.13: Financial Therapy 101 with Dr. Gregory Gilot and Erika Wasserman

Originally released March 4, 2021

For the third segment of the 2023 Rewind Series, David speaks with Dr. Greg Gilot, an orthopedic surgeon at the Cleveland Clinic in Florida, along with his collaborator, "your financial therapist" Erika Wasserman.

David and Greg cover reasons why Greg chose to take time away from his busy orthopaedic practice to get a certification in financial therapy. Greg shares how physicians can benefit from financial therapy and introduces his collaborator Erika and her role as a financial therapist.

Because doctors experience a great deal of stress related to money, the availability of financial therapy is something they should be aware of for themselves, their colleagues, and their family members. This episode from 2021 offers a physician’s perspective on this important discipline that can help physicians focus on and achieve their long-term financial goals.

Ideas Worth Sharing

“We as physicians are high-income earners, but we accrue a lot of debt and we have no financial literacy.”

“Let’s pay for the past, live in the present while we prepare for the future.”

Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.

Listen in as David chats with author and consultant Frank Maselli. They begin by discussing Frank’s career path, from the military to Wall Street to being a speaker, author and trainer.

They then examine what Frank thinks about assessment tests and how he approaches them. Frank then explains the “3-part mind” and how it impacts interactions with your team. Next, Frank explains the Kolbe A test and how he uses this to evaluate teams. David and Frank then chat about how this evaluation worked at OJM Group.

Finally, Frank gives some advice about how to hire the right person for the job and the kind of work he does with organizations to get the most out of the people they already have.

You can find show notes and more information by visiting www.physicianswealthpodcast.com.

This episode focuses on a powerful wealth planning opportunity for physicians that is time-sensitive -- leveraging today’s historically low interest rates. You’ll hear from David, as well as his OJM Group partner, Jason O’Dell, MS, CWM, as they discuss techniques for leveraging low interest rates in a number of wealth planning areas.

David discusses three ways to leverage such low rates and then introduces Jason to discuss premium-financed life insurance, one technique that has increased attractiveness today.

You can find show notes and more information by visiting www.physicianswealthpodcast.com.