Money Meets Medicine

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

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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.

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

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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.

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

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