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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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.
June 3, 202634 min
New Student Loan Rules: The $100K Mistake
One student loan decision in the next few weeks could cost — or save — a physician six figures.
On May 1, 2026, the Department of Education finalized the 134-page rule rewriting federal student loan repayment. Dr. Jimmy Turner goes solo to break down what changed and the moves that protect six figures.
What you'll learn:
Why the July 1, 2026 cutoff decide whether you keep IBR at all
The consolidation trap that can permanently lock residents out of IBR
The RAP interest subsidy that keeps a $300K balance from ballooning during residency
The RAP-to-IBR playbook for PSLF: which payments count, and when to switch
Married or in a community property state? How filing separately changes the math
Resources:
Every doctor needs their own occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability
Have private loans? You should refinance those to the interest rate you can find. To do that, check out Juno: https://moneymeetsmedicine.com/JUNO
Looking for a new CPA? Use the one Jimmy uses (Gelt). Get a 10% discount when working with them here: https://moneymeetsmedicine.com/CPA
Looking to save $100 on a student loan consult? Visit moneymeetsmedicine.com/loans
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
May 27, 202627 min
Should You Rent or Sell Your House When You Move?
Becoming an accidental landlord could cost you a six-figure tax bill — or be the smartest move you make. You're finishing training, moving cities, and that house you bought a few years ago — the one with the enviably low mortgage — is suddenly a decision: sell it and pocket the equity, or rent it out and start building "passive income"? It sounds simple. It isn't. Dr. Jimmy Turner and Justin Harvey, CFP®, break down the real math behind renting vs. selling your home as a physician — and the IRS clock most people don't realize is already running.
What you'll learn:
How Section 121's $500K capital gains exclusion works — and the 2-out-of-5-year rule that quietly creates six-figure tax bills
Why "I have a 3% mortgage" is golden handcuffs, not a strategy
The honest cost of becoming an accidental landlord — property management, the 1% maintenance rule, the curveballs
When renting during a fellowship is a smart, low-risk way to test landlording
Why real estate tax breaks aren't free — what 1031s and "die-with-it" actually require
Resources
1099 Doc, locums, or private practice partner? Upgrade your CPA with Gelt (the tax strategy team Jimmy uses). Use this link to get a 10% discount when working with Gelt: https://moneymeetsmedicine.com/CPA
Get Disability Insurance from Money Meets Medicine Disability Insurance — moneymeetsmedicine.com/disability
Have a question you want discussed on the show? Email me at jimmy@moneymeetsmedicine.com
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
May 20, 202631 min
40% of Doctors Have a Side Gig. Most Set It Up Wrong.
40% of doctors have a side gig — and most are one contract clause away from handing it to their employer. Forty percent of physicians now run a side gig — chart reviews, expert witness work, SaaS tools, real estate, content, consulting. But here's what nobody covered in residency: most are leaving money on the table at tax time, mixing business and personal finances into an unfixable mess, or unknowingly signing away their intellectual property in an employment contract they barely skimmed. In this episode of Money Meets Medicine, Dr. Jimmy Turner and CFP Justin Harvey unpack what physicians actually need to know before they earn their first non-clinical dollar — and what to do once they're already five figures a month in. If you've ever wondered whether you should be an S Corp, whether your hospital can claim your nights-and-weekends project, or whether business ownership is even worth the headache, this one is for you.
Resources:
Need a new CPA? Work with Gelt, the proactive tax strategy partner that Jimmy uses, and receive 10% off the first year through the MMM link — https://moneymeetsmedicine.com/CPA
Disability Insurance — Where physicians (especially trainees) can request a GSI quote and learn whether one is available at their program — moneymeetsmedicine.com/disability
Medscape 2025 Physician Side Gig Survey - https://www.medscape.com/slideshow/doctors-side-gigs-2025-6018502
Episode Summary
An orthopedic surgeon writes in: he's pulling $550K at an academic center and has quietly built an AI-powered prior authorization SaaS now generating five figures a month. What should he be thinking about? Jimmy and Justin use that question as a launchpad into the financial reality of physician non-clinical income — the ups, the downs, and the surprisingly counterintuitive parts.
Jimmy, recently transitioned from 15 years as a W-2 academic anesthesiologist to a 1099 private practice gig, shares why business ownership has been more stressful than running codes — and why he's still glad he did it. He explains why a $30,000 surprise tax bill finally pushed him to bring in a real tax strategy team (not the February-only compliance CPA most physicians settle for), and the difference between the two.
The conversation digs into the Medscape 2025 numbers: 40% of physicians have a side gig, 50% between ages 40 and 50, and 60% say they're doing it for extra income. Most physicians aren't actually trying to leave medicine — they're trying to build enough financial freedom to practice on their own terms. Sometimes a $60,000 side income buys back a day of the week.
Justin pushes on the harder questions: What's your goal? What's the actual ROI once you factor in CPA fees, self-employment tax, and the brain space business ownership demands? Why some physicians thrive in 1099-land and others should sprint back to W-2.
They also walk through the practical setup — the deceptively simple three-step LLC-EIN-bank-account process most physicians overcomplicate or skip entirely — and the contract landmine almost no academic physician thinks about: who actually owns the work you do on nights and weekends. Plus the tax-strategy doors most W-2 doctors don't realize are closed to them: S Corp elections, QBI, solo 401(k)s, cash balance plans, and pass-through entity tax.
If you're already running a side gig or seriously thinking about one, this is the cheat sheet you wish someone had handed you before you started.
What You'll Learn
Why 40% of physicians now run a side gig — and the real reason most start one (it's not what you think)
The three-step business setup most physicians overcomplicate: LLC, EIN, separate bank account
How an employment contract clause can quietly hand your side gig over to your hospital — and how to negotiate it before you sign
When a tax strategy team actually pays for itself versus when basic compliance is enough
The ROI math on 1099 income: what your side gig really needs to clear after self-employment tax, professional fees, and added complexity
Side gigs with lower ceilings but much higher odds of success — and why 90% of online businesses fail
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
May 13, 202629 min
New Attending Financial Checklist: Money Mistakes to Avoid
The 12 to 24 months after residency set the trajectory for your entire financial life — and most physicians get it wrong. In this episode, Jimmy and Justin walk through the financial checklist every new attending needs: why you should start a taxable brokerage account immediately (not just max your retirement accounts), how to build a student loan plan before RAP and IBR rules shift, the backdoor Roth transition, vesting schedules that can cost you tens of thousands, and the lifestyle inflation trap that quietly delays financial independence. You can have anything you want — just not everything.
Resources:
Looking for a CPA that does more than just file taxes each year? Check out Gelt - the proactive Tax team that Jimmy 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 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
May 6, 202624 min
When Can I Get Rid of My Disability Insurance?
There's a point in every physician's career where you can stop paying for disability insurance — and most doctors have no idea when that point arrives. In this episode, Dr. Jimmy Turner and Justin Harvey, CFP® break down the full physician insurance stack and tackle a question they've never covered in 270+ episodes: when (if ever) should you drop your disability and term life insurance policies?
What you'll learn:
Why own-occupation DI is the #1 financial priority for every doctor — even before paying off credit card debt
How to make DI affordable on a resident budget
Why you should secure disability insurance BEFORE term life (an underwriting issue most docs never hear about)
Tail coverage red flags to negotiate before signing a contract
The "leverage frame" for keeping coverage after you hit financial independence
Jimmy also shares his own cautionary tale: bad advice from an insurance agent as an MS4 left him permanently uninsurable for DI coverage. Don't let that be you.
👉 Get a quote that includes every option — including GSI policies your program may not know about — at moneymeetsmedicine.com/disability Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
April 29, 202629 min
Why Doctors Work Longer Than They Need To (One More Year Syndrome)
The biggest financial mistake high-earning physicians make isn't overspending — it's the exact opposite.
In this episode of the Money Meets Medicine podcast, Dr. Jimmy Turner and Justin Harvey, CFP® dive into one of the most overlooked challenges in physician personal finance: the super saver trap. While most financial advice for doctors focuses on avoiding lifestyle inflation, living like a resident, and preventing the Diderot Effect, Jimmy and Justin tackle the other side of the coin — what happens when financially literate physicians save too much and can't flip the switch to actually enjoy their wealth.
In this episode, you'll learn:
Why the traditional "live like a resident" advice can backfire for financially literate physicians
How the 10% Rule allows you to enjoy lifestyle upgrades without sabotaging your financial future
The identity crisis that hits doctors when they realize they could go part-time, cut back to 3 days a week, or retire early
Why "one more year syndrome" keeps physicians grinding long after they've reached financial independence
How to balance saving, spending, and living a life you actually enjoy as a high-income earner
The values-based decision-making framework Justin uses with clients facing major financial trade-offs (home upgrades, practice ownership, business launches)
Why dying with too much money is a real risk for financially literate doctors — and how to avoid it
How to use the Kinder questions to uncover what you actually want from financial independence
Jimmy shares his personal journey of saving over a third of his income early in his attending career, then deliberately scaling back to take a lower-paying job 30 minutes from home so he could coach his kids' baseball team and be present for his family. Justin shares a real client story about a physician weighing a $2.7 million home purchase against time to retirement, work-life balance, and family values.
Whether you're a resident, fellow, early-career attending, or established physician approaching financial independence, this episode will challenge you to ask the harder existential questions: What is enough? When can you flip the switch? And are you using money as a tool — or letting it use you?
Resources mentioned in this episode:
🎓 Residents & Fellows: Get disability insurance before you finish training, including any Guaranteed Standard Issue (GSI) policies available at your program → moneymeetsmedicine.com/disability
📘 Free book: The Physician Philosopher's Guide to Personal Finance → moneymeetsmedicine.com/freebook
🎙️ Subscribe to Money Meets Medicine wherever you listen to podcasts!
Topics covered: physician personal finance, financial independence for doctors, super saver syndrome, one more year syndrome, lifestyle inflation, the 10% Rule, Diderot Effect, physician burnout, going part-time as a physician, disability insurance for residents, GSI policies, financial planning for physicians, behavioral finance, retirement planning for doctors.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
April 22, 202637 min
Should I Consolidate My Loans, PSLF, and Buying a Home
Dr. Jimmy Turner hosts a solo Money Meets Medicine mailbag addressing timely physician finance questions, emphasizing that trainees should secure disability insurance before finishing training because guaranteed standard issue (GSI) policies are only available during training and many doctors need them. He explains 2026 federal student-loan changes under OBBBA, advising residents planning aggressive payoff to avoid refinancing in training, exit the defunct SAVE plan, and consider the Repayment Assistance Plan (RAP) for its interest subsidy and flexibility. He warns fourth-year med students pursuing PSLF not to consolidate loans to skip the grace period, because a post–July 1, 2026 consolidation can eliminate IBR eligibility and lead to much higher payments versus IBR’s cap.
Get $100 off a student loan consult with Student Loan Planner: https://moneymeetsmedicine.com/loans
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.
April 15, 202629 min
Tax Day: How to Save Money on Taxes as a Physician
On the Money Meets Medicine podcast, host Dr. Jimmy Turner and co-host Justin Harvey CFP discuss Jimmy's surprise $36,000 2025 tax bill after household income rose into the $500,000–$1,000,000 range, phasing out tax breaks like the child tax credit and qualified business deduction, and raising his effective rate from ~25% to 31%.
They review contributors, such as using Roth 401(k)/403(b) contributions (increasing taxable income) and taking the standard deduction after front-loading charitable deductions via a donor-advised fund in 2024. They explain safe harbor concepts, note new tax changes from the “One Big Beautiful Bill Act” (including SALT cap rising to $40,000 but phasing back to $10,000 as income approaches ~$600,000), and emphasize year-ahead planning to manage AGI. And they even discuss one of the most over-hyped opportunities pitched at physicians that you should consider avoiding.
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.
April 8, 202627 min
How to Invest for Your Kids (529s, Trump Accounts, Custodial IRAs)
In this episode of the Money Meets Medicine podcast, Jimmy discusses how his daughter Grace just earned $120 from her first real babysitting gig — and it sparked a deep dive into the best ways to invest money for your kids. In this episode, Jimmy and Justin break down the major investment accounts available for children, including 529 plans, UGMA/UTMA accounts, custodial Roth IRAs, and the brand-new Trump accounts (plus who actually qualifies for the $1,000 seed money and the $250 Dell-funded option).
They also share what's actually worked in their own families to teach kids about money — from the three-jar system to Apple Pay allowances to the parent match strategy. Whether your kids aren't born yet or are already earning their own income, you'll walk away with a game plan for building financial literacy and long-term wealth for your family.
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.
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