Money Meets Medicine

Hosted by Doctor Podcast Network, Jimmy Turner MD

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173

Latest episode

Aug 2026

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About the show

On Money Meets Medicine, Dr. Jimmy Turner discusses all things career and finance for physicians. With expert guest discussions, Jimmy tackles the personal finance topics you wish you had learned in medical school. The MMM podcast will help you tackle your student loans, achieve financial independence, invest for retirement, and decrease your financial stress and burnout. To get help with free educational content or obtaining own-occupation disability insurance from a source you know you can trust, visit https://moneymeetsmedicine.com/disability Background: Dr. Turner is a practicing anesthesiologist, author of The Physician Philosopher's Guide to Personal Finance, and Co-Founder of Money Meets Medicine Disability Insurance. For more information, visit moneymeetsmedicine.com

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August 19, 202638 min

5 Bad Pieces of Financial Advice to Avoid

On the Money Meets Medicine podcast, Dr. Jimmy Turner and Justin Harvey discuss how common personal finance advice can be especially costly for physicians and outline six “bad advice” items. They warn that disability insurance company choice matters because applying with the wrong carrier can trigger denials that eliminate access to guaranteed standard issue policies; they also caution against waiting until late in training. They argue that saving 10–15% or just maxing a 401(k) is usually insufficient for doctors with delayed earnings and debt, suggesting higher savings rates based on retirement goals. They note student loan consolidation advice has changed under the One Big Beautiful Build Act and may limit repayment plan eligibility. They criticize “pay off all debt before investing,” explain why renting isn’t necessarily “throwing money away,” and argue that asking if an advisor is a fiduciary is no longer reliable, favoring fee-only transparency. Resources: Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability Are you a 1099, locums doc, or private practice partner or business owner? You need a tax strategy team. Get 10% off working with the team I use here (Gelt): https://moneymeetsmedicine.com/CPA Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 12, 202633 min

Should I Invest in SpaceX? (Lessons from SpaceX IPO)

SpaceX priced at $135 a share, raised $75 billion, and hit an all-time high of $225 within days — then fell to $107. Dr. Jimmy Turner and Justin Harvey CFP break down how index funds actually decide what gets included in the index, why the S&P 500 said no to SpaceX while CRSP and the Russell 1000 said yes, and what that means for the total stock market index fund in your 401(k). What you'll learn: Why an index fund doesn't pick stocks — it follows 3 rules: seasoning, profitability, and float How Nasdaq, Russell 1000, and CRSP cut IPO seasoning for SpaceX Why your money in an IPO often funds the private investors cashing out on the other side What Dimensional's 12-month IPO exclusion says about buying at the offering How to handle FOMO before Anthropic and OpenAI potentially go public Resources mentioned: Looking to lower your taxes? Check out Gelt, the tax team Jimmy uses: https://moneymeetsmedicine.com/CPA Juno — Looking for a lower interest rate on your student loans? Use group negotiated rates from Juno here: moneymeetsmedicine.com/juno Every physician needs disability insurance. Get quotes from Money Meets Medicine Disability Insurance: https://moneymeetsmedicine.com/disability The Physician Philosopher's Guide to Personal Finance — free book for physicians — moneymeetsmedicine.com/freebook Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 5, 202629 min

Are Doctors Fairly Paid? Inside the 2026 Compensation Data

28% of physicians say they don't earn enough for what their family needs. The lowest-paid specialty still makes $266,000. Medscape's 2026 physician compensation report surveyed roughly 6,000 doctors across 29+ specialties, and the numbers tell a stranger story than "doctors are underpaid." Average pay rose 3%, barely clearing inflation, and nine specialties were flat or down. Jimmy and Justin unpack what the data says about physician pay, negotiation, and the 40% side-gig statistic. What you'll learn: Why primary care averaged $298K and specialists $417K — and which specialties outpaced inflation What percentage of physicians negotiated their compensation, and how many just took what they were given Why "we don't negotiate" pay models push high performers out The paradox: 53% feel personally fairly paid, but 61% say the profession is underpaid What the 40% side-gig number reveals about autonomy and moral injury Resources mentioned: Money Meets Medicine Disability — moneymeetsmedicine.com/disability Need a new CPA or a better Tax Strategy? Get a 10% discount when working with Gelt, the tax strategy team that Jimmy Turner uses: https://moneymeetsmedicine.com/Gelt Medscape Physician Compensation Report 2026 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 29, 202647 min

Red Flags in Private Practice Job Offers

Being able to know the difference between a good and a bad job offer as a physician in private practice involves knowing where the landmines and pitfalls are so that you can avoid them. In this episode, host Dr. Jimmy Turner interviews Michael Johnson, a physician contract attorney at Michael Johnson Legal. Resources: Get 10% off working with Gelt, the tax strategy team that Jimmy Turner personally uses: https://moneymeetsmedicine.com/CPA Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook What you'll learn: What "partnership" truly means in a business context The financial realities of partnership tracks, buy-in costs, and ownership structures Common pitfalls, including misleading partnership titles, private equity buyout risks, and real estate considerations Eight essential questions physicians should ask before committing to a partnership Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 22, 202638 min

Trump Accounts: What You Need to Know

Trump accounts — technically the 530A — went live July 4th, and Justin Harvey opened three for his own kids just to see how they work. These accounts are child-owned, they behave like a traditional IRA, and they come with rules most physicians haven't heard yet. Tag along with Jimmy Turner and Justin Harvey as they discuss where they actually belong in your savings hierarchy, and who should pass entirely. Resources: Get 10% off working with Gelt, the tax strategy team that Jimmy Turner personally uses: https://moneymeetsmedicine.com/CPA Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook What you'll learn: Why the 530A is closer to a traditional IRA than a 529 — and the basis-tracking problem nobody is warning parents about Where Trump accounts rank against 401(k)s, backdoor Roths, and 529s in a physician savings hierarchy Who actually gets the free $1,000, and why older kids are treated differently The Roth conversion play at age 18 — and the risk of handing an 18-year-old a quarter-million-dollar account Why a kid's Roth IRA may teach better money lessons than any government-funded account Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 8, 202642 min

Physician Tax Strategy: W2 vs 1099 vs K1

CPA Spencer Carroll joins the show to unpack tax strategy for physicians: why your income type matters more than your income, and where the real savings hide. Whether you're a W-2 employee, a 1099 locums doc, or a K-1 partner, the levers you can pull are wildly different. What you'll learn: Which of W-2, 1099, and K-1 is the best—and worst—way to get paid as a physician When an S corp actually makes sense, and how "reasonable salary" really works The truth about real estate professional status and the short-term rental loophole, from a CPA who owns rentals himself The one red flag that means you're probably overpaying: barely talking to your CPA all year Resources: Head to moneymeetsmedicine.com/cpa to book a complimentary call with Gelt and get 10% off your first year. Subscribe to Money Meets Medicine wherever you get your podcasts, and leave a rating—it helps other physicians find the show. Disclaimer : This episode is a part of a paid partnership between Physician Philosopher LLC with Better Technologies Inc. (DBA Gelt), a tech-enhanced tax-strategy company. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July 1, 202624 min

Why FIRE Isn't the Goal (FIWO)

Dr. Jimmy Turner cut back to part-time at 35—and ended up on antidepressants. FIRE wasn't the escape hatch he expected. FIRE—financial independence, retire early—promises an exit from burnout. But what happens when you finally get there and realize you don't know who you are without medicine? Jimmy and Justin make the case for FIWO (financial independence, work optional) instead. Resources: Disability Insurance: Every physician needs to get individual disability insurance while in training. Get a quote from Money Meets Medicine Disability Insurance , a company you can actually trust. Built by doctors, for doctors. Does your CPA only reach out in March each year and show you a giant tax bill? You need tax strategy, not just tax filing. Click here to get a 10% discount code to work with Gelt, the same tax strategy team that Jimmy personally uses. Every physician needs basic financial literacy. Get a free copy of Dr. Turner's best-selling book , The Physician Philosopher's Guide to Personal Finance. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

June 24, 202622 min

Saving Less Saved My Career (Coast FIRE)

What if your first three years as an attending decide whether you work three days a week in your 40s—or six days into your 60s? Dr. Jimmy Turner burned out early in his career—antidepressants, 1.3 FTE, the works—before discovering the fix: working less. He and Justin Harvey, CFP, break down Coast FIRE, your Wealth Accumulation Rate, and why the savings decisions you make right out of training set a trajectory you'll feel for decades. What you'll learn: Why a ~30% Wealth Accumulation Rate early on can buy you a 3-day clinical week later How Coast FIRE lets you save less down the road and still reach financial independence on time The two kinds of autonomy—personal and professional—that really drive physician burnout A smarter take on "live like a resident" so you can enjoy your income without losing the plot Resources: Are you a 1099, locums doc, or private practice partner or business owner? You need a tax strategy team. Get 10% off working with the team I use here (Gelt): https://moneymeetsmedicine.com/CPA Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

June 17, 202625 min

Why Many Doctors Live Paycheck to Paycheck

Physicians earning $400K are living paycheck to paycheck—and an 18th-century psychology trap is why. Roughly 30% of doctors over 60 don't have $1M in net worth, even counting their home. Justin Harvey and Dr. Jimmy Turner unpack the behavioral-finance forces—the Diderot Effect, lifestyle creep, and leverage—that quietly erode physician wealth, and the simple framework that lets you spend guilt-free while still building real options. Resources: Disability Insurance: Every physician needs Disability Insurance from MMM Disability Insurance . Click here to get a Quote from Money Meets Medicine Disability Insurance Looking for a new CPA? Use the one that Dr. Jimmy Turner personally uses and recommends (Gelt). Click here to get a 10% discount code on services when working with Gelt. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

June 10, 202633 min

Is Loan Forgiveness Worth a $300K Tax Bill?

There are two ways to get your student loans forgiven — and the one nobody talks about could leave you with a six-figure tax bill. Most physicians know PSLF. Far fewer understand taxable forgiveness — the IDR path that hands you a massive tax bill 20 years down the road. Jimmy and Justin break down a real listener question (anesthesiologist + dentist, $400K in loans at 7%) to show why "married filing separately" math isn't as clean as it looks, and why your repayment plan now hinges on a looming July 2026 deadline. Resources mentioned: Looking for a CPA that does more than just file taxes each year? Check out Gelt , the proactive tax strategy partner that Jimmy personally uses, and receive 10% off the first year through the MMM link. Get $100 off a Student Loan Consult with Student Loan Planner: moneymeetsmedicine.com/loans Looking to refinance your private student loans? Click here to learn how to find the lowest interest rates out there . Every physician must get disability insurance before leaving training! Get a disability insurance quote from Money Meets Medicine Disability. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.