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Physician Cents

Physician Cents

著者： Chad Chubb Tyler Olson
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 Welcome to the Physician Cents Podcast! A podcast designed specifically for physicians, offering a breakdown of complex financial topics to help you develop your financial IQ, further your financial journey, and improve your well-being. Whether you're a medical student, resident, fellow, or attending physician, you're sure to learn something new that will benefit your journey.2024 個人ファイナンス 経済学 衛生・健康的な生活 身体的病い・疾患
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  • Buying a Home as a Physician? What No One Tells You About the Mortgage Process, Ep 33

    Buying a Home as a Physician? What No One Tells You About the Mortgage Process, Ep 33
    2025/07/16
    Most physicians assume qualifying for a mortgage is straightforward; after all, you’re highly educated, creditworthy, and well-compensated. But buying a home as a doctor comes with hidden pitfalls that can leave you paying way more than you should, getting rejected unexpectedly, or locking in a rate you’ll regret. Many don’t realize that standard mortgage rules aren’t designed for your unique career arc, training debt, or 1099 income, leading to confusion and frustration in an already stressful process. Today, we get into those problems head-on with mortgage expert Josh Mettle, who explains why physicians are often at a disadvantage in conventional lending and what mistakes cost them thousands. We unpack the difference between negotiating price vs. concessions, strategies for buying down high interest rates, and how to safely navigate adjustable-rate or “stepped” loans without getting burned. Josh also sheds light on the challenges self-employed or partnership-track doctors face, and what to do about it. Josh offers concrete solutions that go far beyond “find a physician loan.” He and his team specialize in helping doctors across nearly every state understand their true options, run custom analyses, and move quickly in competitive markets. By the end of this conversation, you’ll know what questions to ask, what traps to avoid, and how to set yourself up for financial security, not surprise headaches, when buying your next home. If you’re serious about making the smartest move possible, this episode is your blueprint. Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients. You will want to hear this episode if you are interested in... (00:00) Intro.(01:00) Why elevated rates aren’t a 30-year problem and how to negotiate seller concessions.(08:50) Risks and downsides of stepped or subsidized mortgage payment strategies.(17:10) Solving self-employed and 1099 income challenges for physician borrowers.(23:00) Physician mortgage 101: what it is and how it really works.(26:30) Fake physician mortgages and how to vet lenders.(33:40) Comparing physician loans to conventional loans with total cost analysis. Why Physicians Need to Rethink the Mortgage Process Buying a home as a physician isn’t as straightforward as most people think. I see so many doctors assume they’ll just walk in and get approved thanks to their income, only to run into problems unique to our field. Between student debt, training contracts, and even being self-employed or 1099, there are roadblocks that a typical lender won’t understand. That’s why it’s so important to have these conversations about negotiating smarter, anticipating payment changes, and understanding the real cost of a mortgage beyond the interest rate you see advertised. Negotiating Smarter in a High-Interest Rate Market I wanted to dig in on this because so many clients are worried about buying at today’s higher rates. The reality is, it’s not a permanent 30-year sentence. There are real strategies, like negotiating seller concessions to buy down the rate temporarily, that can create meaningful monthly savings right when you need them most. By understanding how to work with local market data and partner with a lender who knows these tactics, you can offset a lot of the pain of a high-rate environment. But I also see the risks of stepping into payment plans that increase over time. I make it clear with anyone I work with: you need to plan for the worst-case payment and make sure it still fits. It’s like a built-in stress test for your budget. If you’re not comfortable with that future payment, it’s better to know now than get squeezed later. This approach isn’t about gambling on rates falling; it’s about making sure you have a safe, predictable plan no matter what happens in the market. How to Choose the Right Mortgage Strategy for Your Situation It’s not enough to just hear “physician loan” and assume it’s the best option. That name alone doesn’t guarantee a good deal. I walk clients through comparing physician mortgage terms with conventional options, analyzing total costs over time, and making sure they’re leaving room for savings, student loans, and life expenses. I also think it’s critical to vet your lender carefully, look at reviews, ask for referrals, and make sure they know physician-specific pitfalls. When you get that right, you’re not just buying a house, you’re securing your overall financial plan. The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician ...
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    43 分
  • Before You Sign Anything: What Docs Need to Know About Disability Insurance, Ep 32

    Before You Sign Anything: What Docs Need to Know About Disability Insurance, Ep 32
    2025/07/01
    If you’re a freshly minted physician just stepping out of residency or fellowship, the last thing you need is another decision demanding your urgent attention. But there’s a flurry of emails, conversations in hospital cafeterias, and ads in your inbox pushing one message hard: “Get disability insurance now, or else.” It’s intense, it’s relentless, and it’s not the full story. What’s often left unsaid is that while disability insurance is crucial, potentially one of the most important financial decisions of your early career, you’re not on the clock in the way you’ve been led to believe. The notion that your opportunity to secure discounted coverage vanishes on July 1st? That’s marketing pressure, not reality. The smarter approach begins by pulling back from the noise and focusing on what actually matters: long-term income protection that aligns with your career and health profile. Guaranteed Standard Issue (GSI) policies often represent a one-time shot at securing coverage without the scrutiny of traditional underwriting. The problem? Most physicians are unaware that their program may already offer this, or they’re being steered away by agents who either lack access or prioritize their own commissions. This conversation cuts through the noise, giving you the context, timing, and key signals to watch for, so you can make this choice with the clarity it deserves. Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients. You will want to hear this episode if you are interested in... (00:00) Before you sign anything for disability insurance.(01:10) Debunking the July 1st deadline myth.(02:45) How much time you really have and what to do with it.(04:55) Why GSI policies are a once-in-a-lifetime opportunity.(07:00) Common pitfalls and how to avoid bad advice.(09:20) The truth about who controls GSI access (and why it matters).(11:35) Locking in GSI now vs. hoping for second chances later. Why You’re Being Pressured, and Why You Can Take a Beat Every year around graduation, there’s a wave of messaging that tries to convince physicians they need to lock in disability insurance immediately or risk losing everything. The emails sound urgent, the reps sound convincing, and the deadline, July 1st, is treated like it’s carved in stone. But that sense of panic is manufactured. What’s really happening is that disability insurance is both important and profitable, and that combo makes it ripe for pressure tactics. You don’t need to jump the moment someone flashes a discount. Most programs that offer discounts, especially GSI access, give you a runway of 90 to 180 days after graduation. That’s built-in breathing room. So if you’re just trying to get your feet under you post-training, know that you’re not too late. The people who rush this decision often end up with the wrong coverage, or worse, locked out of better options. GSI Policies Aren’t Just Nice to Have, They Might Be Your Only Shot The idea that you can just “upgrade later” or “shop around” doesn’t hold water when it comes to GSI policies. These aren’t something you can casually circle back to once you’ve settled into your attending role. If your training program offers a GSI, that might be the only window in your career to secure disability coverage with zero medical underwriting. That means no bloodwork, no exams, no questions about your health history, just locked-in coverage based on your job and income potential. And here’s the kicker: a lot of physicians never even hear about these options because their program doesn’t officially publicize them. The access point isn’t the hospital or university; it’s the insurer and its appointed agents. If you don’t know the right person, you won’t even know what you’re missing. That’s why relying on generic advice, or worse, pressure from someone who doesn’t have access to GSI, is a fast way to lose out on your strongest coverage option. Smart Strategy Beats Fast Action Every Time It’s tempting to equate speed with responsibility, especially when you’ve just stepped into the world of attending paychecks and adult-sized decisions. But strategy wins in the long run. Taking time to verify whether your program offers a GSI, learning who has access to it, and comparing your options before signing anything? That’s what puts you in control. A GSI policy can be your foundation. You can always layer on a traditional policy later if your income or needs change. What matters most is locking in insurability while it’s still on the table. Not because someone told you to do it today, but because you made a calm, informed choice in your best interest. The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler ...
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    16 分
  • How Big Life Changes Wreck, or Rescue, Your Student Loan Strategy, Ep 31

    How Big Life Changes Wreck, or Rescue, Your Student Loan Strategy, Ep 31
    2025/06/15
    You might think that making more money solves more problems, but early-career physicians know it can have the opposite effect. The moment you or your partner graduate, sign a contract, or even get engaged, your financial world shifts. And if one of you has massive student loans tied to forgiveness programs like PSLF, those life events don’t just change your lifestyle; they can completely upend your loan strategy. In this episode, we examine how a personal decision like marriage can lead to substantial changes in your repayment plan, tax filing decisions, and long-term financial outlook. And we don’t stop at hypotheticals, we walk through actual numbers and scenarios, including couples holding off on marriage for years, all in the name of student loan optimization. But it’s not just about marriage. From the confusion around SAVE plan forbearance to the overlooked tax traps in your first attending year, we break down the key decisions that tend to sneak up on you the moment your income goes up. This isn’t about turning you into a financial planner, it’s about giving you the clarity to act (or not act) with purpose. We talk about what to avoid, when to wait, and how to spot the quiet mistakes that could cost you thousands. Whether you’re transitioning out of fellowship, newly navigating PSLF, or just trying not to mess up your first six-figure paycheck, this episode gives you the financial footing you didn’t know you needed. Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients. You will want to hear this episode if you are interested in... (00:00) Intro and Jeremy’s student loan + marriage question(02:00) PSLF, joint income, and tax filing decisions(05:30) Should couples delay marriage for a loan strategy?(09:20) SAVE plan uncertainty and dual-loan households(13:40) Tax moves when going from fellow to attending(23:20) Are DFA and Avantis worth the cost? Understand how your partner’s student debt changes your financial reality If one of you has six figures of med school debt and the other’s making solid income, your financial life just got way more complicated. I lay out how your partner’s loan situation can impact PSLF eligibility, how your tax filing status plays into it, and why your state’s laws might push the numbers in a direction you didn’t expect. This isn’t just about love and money, it’s about knowing how the system treats you once you’re linked on paper. Know when to act, and when to chill, on student loan plan changes With the SAVE plan in limbo, making a move right now could do more harm than good. If you’re in forbearance, stuck in application purgatory, or wondering whether to jump plans, this part is for you. A lot of borrowers feel stuck, but sitting tight might actually be the smart play. I walk through why filing new forms too early can lock you into the wrong plan, what “waiting it out” should actually look like, and how to stay informed without stressing daily. The key is knowing what to watch for and how to be ready the second new rules drop. Reacting early could cost you forgiveness dollars down the line. Stop the tax + investment mistakes that trip up new attendings When your pay triples overnight, so do your financial blind spots. I walk through common errors I see first-year attendings make: over-contributing to retirement accounts, accidentally triggering Roth IRA penalties, and getting blindsided by taxes on forgivable bonuses. Add in SAVE changes or leftover training-year quirks, and things get messy fast. If you’re trying to stay organized while your income spikes, this is how you do it without leaving money on the table or owing it back in April. The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers. Resources & People Mentioned https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service https://www.irs.gov/payments Connect With Physician Cents WealthKeel LLCOlson Consulting LLCTyler Olson on TwitterChad Chubb, CFP®, CSLP® on Twitter Subscribe to Physician Cents Apple Podcasts Audio Production and Show Notes by - PODCAST FAST TRACK
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    34 分

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