Mar 29, 2024
This episode is sponsored by PearsonRavitz– helping physicians protect their most valuable assets.
When you run across something weird or strange, how do you avoid major mistakes and minimize errors? Get a second opinion, especially when it comes to the good, the bad, and the ugly of financial planning for physicians.
In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Justin Harvey, a Certified Financial Planner (CFP®), about stories and experiences with physician families. Sometimes, the best and juiciest ones are difficult to change substantive facts enough to preserve client confidentiality.
Topics
Discussed:
Good: Immense value from financial advisors who understand
physician finances
• Bad: Save documents and keep records on servicer when third-part
is paying
• Ugly: Ultra high-risk investment activities—bordering on
gambling
• Understand the Deal: Perform due diligence and review contracts
for red flags
• Compensation: What money are you leaving on table based on how
you’re paid?
• Accurate Alignment: Involve spouse for honest answers about
financial security
• Life Lessons: Follow money, understand incentive/stakes, deal w/
consequences
• Moral of the Story: Sometimes, it’s worthwhile to pay a fair fee
for a CPA
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