Speaker 1 00:00:08 What's up, everyone. Welcome to the finance for physicians podcast. I'm your host, Daniel Raimi. Join me as we dig into what it looks like for physicians to begin using their finances as a tool to live better lives. You can learn more about our
[email protected] let's. Jump into today's episode. Hello, everyone. Happy new year should be getting along in a year. By the time you're listening to this hope you're getting started off. Right? I wanted to start out with a couple of quick updates. There's been some big changes kind of in the news financially. So first of all, the big news with student loans, for those of you that have student loans, federal student loans, especially, uh, they decided to extend COVID forbearance. Again, you should have, if you're subscribing to our podcast emails, you would've, should've gotten an email from us, um, updating kind of giving you a little more detail on that, but basically the, the interest free period at 0% interest, no payments due got extended again, even though they said they weren't going to send it again.
Speaker 1 00:01:12 So who knows how long that's going to last, but, but that's a big deal, especially for people going for PSLF. That's like a home run. So that's one big thing. Second big thing. You've probably heard us talk about this before backdoor Roth IRAs, um, was one of the big changes. Um, they were in the tax proposals that were potentially going to go through, but turns out nothing happened. So the old West Virginia, uh, Senator like put his foot down and, uh, basically killed the deal. And so the none of that, the big tax, all you may have seen in the news, uh, build back better plan. I think that's what they call the build back better. Nothing passed yet. At least as of this recording, nothing has passed. And, uh, the word on the street is it's kinda like potentially not going to pass it all is especially in its current form.
Speaker 1 00:02:06 So who knows what happens with that? But the big things, a backdoor Roth, I was mentioning backdoor Roth was one of the things. It was a pretty complex like any of these bills, it was complex. There was a lot of changes. We covered some of the changes in a prior podcast, but I guess all that's irrelevant now. And so, uh, backdoor Ross was one of the things on the chopping block. And so that's, we're back in business with backdoor Ross. Now we're kind of playing it a little cautious with those because there's still, you know, you never know what's going to happen, but there's still some, um, indication that they might still try to pass some version of this. And there is a smaller, there's a small chance. They disqualify this retroactively back to the beginning of this year, but the longer the time goes, the less likely that is, I would say.
Speaker 1 00:02:51 So we're going to kind of see how things shake out in the next couple of weeks and if nothing still is happening, we'll probably, you know, encourage people to go ahead and start knocking out backdoor, Roth IRAs again. And so that's a big deal, especially if you're a high income earner and normally would not be able to contribute to Ross that that loophole is still open, uh, at least for the time being. So we'll keep that on the radar. Um, the other big thing is, uh, the limits on some of these plans, you can fund tax shelter plans increased. Uh, we sent an email off about that as well with details, but, uh, basically the limits are up. And so if now, just to clarify, if you're, if you work with our planning firm, feel free to reach out, we can kind of help you work through some of these things and, you know, we know your situation already, so we can kind of tailor this to your situation.
Speaker 1 00:03:40 So, you know, no need to take immediate action on these things, especially if you work with us, uh, on a one-on-one basis. And then also please feel free to check, you know, throw out questions with details, um, or with a specific questions, feel free to throw those out any time and then make sure just, uh, we'll throw out the disclaimer since we're kind of talking about taxes, always consult your tax advisor, a tax advisor for a specific advice on your situation. So, all right. So today, uh, I was planning to kind of zip up the vitals, uh, check stuff. We were talking about the past few episodes and, uh, talk through like kind of like a vitals follow-up plan because I mean, it's good to have, it's good to understand how that works. And it's great to kind of be thinking about them and you know, but at the end of the day, if nothing happens, like if you don't do anything about it, it's actually not great.
Speaker 1 00:04:41 It's, it's, it's kind of worthless until you actually have a concrete until you start to take 10 steps forward. It's not of any value to you. And so I really wanted to, I thought it would be helpful to talk about what am I look like from an actual execution standpoint? Like, what are the steps to be thinking about? How do you start to take steps forward, uh, with this or apply it, um, and, and start to make some progress because that's really what it's about is, is, uh, making progress. So before we jump into it, we'll do kind of a quick review of the vital. So first one we went over was clarifying values. So what's most important. What are your goals? Where do you want to go? Um, that's kind the that's, that's definitely the most, the reason it's first is it's the most important thing it's going to drive your, uh, how you decide, you know, which direction to take this, and it's how you personalize things.
Speaker 1 00:05:40 So it's definitely huge. Second vital was understanding your savings, spending, giving ratio, basically where your money's going. You know, that's a big deal. Um, not only understanding where it's going, but also understanding where you would like it to go because not all, it's not always in alignment. I mean, it's for a lot of us, it's a, you know, rarely in, well, I guess for all of us, it's never in perfect alignment. So understanding where it is today, and then also starting to understand where you would like it to go. Um, and then the third vital was monitoring net worth. So what are your assets minus liabilities? That's your net worth? How's it changing over time? What's your debt to income ratio? What's your, how much debt do you have in total what's housing progressing over time. So that's net worth vital. And then the fourth was having a safety net check and that gets into like, do you have enough insurance?
Speaker 1 00:06:33 Do you have enough cash reserves in the event of unexpected type stuff? So that's kind of like your worst case scenario check. Uh, and then the last one was having an investment plan. And so that's just, you know, regularly, well, first of all, what's the plan for investments and then having some sort of regular check on that. So each of them, each of these are really important and they can be come more important depending on where you're at in life, like early on. It's usually like the investment plan is kind of important, but it's not usually like the highest priority because you don't really have a lot of investments. It's more about like, save, spend, give ratio. Like the second vital is huge for everybody that's young, that's like huge just cause you gotta have, you gotta build wealth from something. And that's where it comes from.
Speaker 1 00:07:20 The first vital is important for everybody. But, uh, the, the last few, like if you're financially independent, the fourth vital, like safety net is less important because you kind of like, can your safety net is your wealth. Um, that's kind of what financial independence is. Not, it's not safety net for everything, but it's covers a lot of those unexpected circumstances just by, in itself. So how do we bring all these together? Um, it's kind of like, you know, health vitals, you don't, um, you kind of got to look at the whole picture and also look at the individuals, circumstances and history and goals. And, you know, that's, that's really where you start to come up with a game plan and customize it. So the key though is first of all, tracking having some sort of vitals, you check and tracking them over time, we've already talked about that in the past episodes, but then the next big part is how are you measuring success?
Speaker 1 00:08:22 So in that that's a lot of like, you know, values. So that first vital, we need to know where you want to go. What's most important. And that's how we should be measuring success with all these things. So, you know, big net worth having a fast growing network, you know, it could be good, but like that doesn't equate to happiness always. So, um, idea really where you get happiness is when your values are in alignment with your actions. And that happens only happens when you understand these values and your checking, you know, keeping an eye on the actions and being intentional about, uh, moving, pulling those two things together. And that's, you know, that's what we're after here. So let the big thing, the big takeaway, I think the most important thing is, um, letting that first vital or letting your values be the measuring stick.
Speaker 1 00:09:17 Like that's how you start to customize these things. And that's how you start to say, okay, what is my next step? If you've ever like hung out with financial planners, um, like myself or asked, you know, questions were notorious for being like, yeah, it depends. You know, we say it depends to everything financially that comes up, but that's really because we're trained in, in, um, you know, values-based planning and when you're really doing good planning, it's gonna, it does depend. I mean, it depends on what's what's most important to you. Um, I can't tell you if you know, XYZ is a good move financially until I know like where you want to take all this, like, what's the purpose of the money what's most important to you? Cause that's, that's the measuring stick. So I'll throw out some examples of this, maybe your, one of your values.
Speaker 1 00:10:11 And we talked about this in the first vital check. So if you want to dig into this more, definitely go back and check that out, but we'll hit on some high points, um, or high point, uh, some examples again today. So let's say your, a big values is generosity and family time, maybe. So, you know, maybe your goal for that is starting to give more charitably and, uh, maybe not work quite as much, or like at least watch your time and, you know, make sure you're not, you're balanced and spending more time at home. And so in that scenario, it's not all about like, it's not about growing your net worth. In fact, like it might be that you're growing your net worth really fast. And that's the problem because, and maybe your savings ratio is really high and you're making a lot of money, but like that's a problem too, because say you're not giving anything and you're working 80 hours a week, but going back to your values, the problem is that you say your values are family time and generosity, but like your actions are not in alignment with that.
Speaker 1 00:11:22 And so when I say that, it sounds kind of like obvious, this is obvious stuff, but the key is like going through the exercise of really like, what are my values? I mean, it's not something that most people think about every day. So going through that, and that's why, you know, these are important. We'll S we'll circle back to like, you know, a little bit more of a specific plan for doing this, but we're starting big picture. So, um, so that's an example where, you know, maybe growing your net worth is not always going to be in alignment with your values. Um, it might need to be that you slower or, you know, give more money, which will always slow down your net worth growth, or maybe your, um, you know, having your first child. And you're like covering my family, like taking care of my family is number one, that's a common one is just like financially making sure my family is taken care of.
Speaker 1 00:12:10 And that scenario, like if that's the key, that's the number one. That's like the big value. Then that scenario safety net really tends to kind of move up the list. And maybe you don't need to, maybe in this phase of your life, say you're in training, uh, early on and income is going to go up in the future, but it's still, you know, modest, maybe safety net is, should be the highest priority. It's like getting insurance, like disability insurance or income insurance or life insurance. A lot of times that should be the high priority. If, if, if taking care of your family in the, you know, in all scenarios is most important that that tends to kind of be the one to watch, you know, look out for. So a good, I think, I think what happens sometimes is like, maybe this all makes sense, but it's like, well, how do I know if I'm actually in alignment?
Speaker 1 00:13:03 I know what these vitals make sense. Like, and I get it. Like, obviously it makes sense to keep an eye on your finances, but like, how do I actually know if I'm in alignment? It doesn't feel like I'm in alignment. Uh, or I'm not sure if I'm in alignment or I'm having trouble calculating if I'm in alignment. And so there's a bunch of different, um, issues that could be happening there. So, um, first of all, if you're not tracking your vitals, then you got to start there. And that includes like understanding your values. So if you don't know your values, you don't know where you want to go and you're not tracking some of these big vitals. Like that's number one, you gotta, you gotta start there. There's no way you're going to feel an alignment until you start doing that. And if you're not like excited about doing that, go find a financial planner.
Speaker 1 00:13:55 That's what we do. That's like our job is to track these vitals for people. That's, that's basically what we do for people is monitoring these types of things and telling them, you know, Hey reminder, like your vitals, you said, this is most important, but like, we're kind of getting off track there. So sometimes people just like, you know, or need, or want kind of a third party to be more involved. But other people, you know, maybe you're a great kind of DIY in that. And, but the, the key is to kind of have them in the first place. Other problems that can sometimes happen is maybe you, uh, resonate with that. And you're like, yeah, I got it. Um, I'm, I'm doing it or I'm starting to do it, but I'm having trouble, like knowing if my say it's vital, number four, like safety net check.
Speaker 1 00:14:45 I'm having trouble knowing if I have enough, you know, if my disability insurance ratio is good or maybe it's the investment plan, pardon them. You're like, okay, I got a plan, but like, I don't know if it's efficient. I just kind of like Googled it and pulled some off the internet. So two thoughts on that, like number one, you know, that's usually a sign that you probably need to like learn the topic more. So it's, it's definitely gonna be something to dedicate more time to that, or get some books on it or something along those lines. So for example, I mean, there's all kinds of books on these things. So you can find a book on like how to create your investment plan, literally. I mean, and they'll give you some, uh, ideas of what to do and, or you can read about how to calculate how much life insurance you have, you should have or disability insurance.
Speaker 1 00:15:37 So that gets into like the education component. So sometimes that's the issue is that financial literacy is not to the level yet to where you are going to feel confident. So you either have to learn it. And there's plenty of not nowadays. The good thing is it's all over the internet. You can find it easily. You just have to spend the time. So you got to put in the time and learn it, or you can, you know, hire help to kind of shortcut it. Like, so financial planners, we're not going to like teach you financial planner is not really going to, I mean, we educate partially, but we're not gonna like teach you how to do it. It's more like designed to be outsourcing lean. So we're going to help you do things more efficiently. Part of that is like trying to shortcut it, showing you like the most applicable giving you advice on the best path forward for whatever given situation we're looking at.
Speaker 1 00:16:33 So, um, other times, you know, you might feel out of alignment just simply because there's some like value clash happening, especially if you're married. Um, that's often we see that come up. It's like, you're not sure what the priority is, uh, or you have conflicting priorities. So one spouse might want to go this way and another spouse might wanna go that way. And you haven't done the hard work yet of like reconciling that or compromising that. And so there's going to be some like tension around, you know, feeling like you're not on track. And so you're, you might be checking all these boxes we've talked about so far, you might be, you know, clear on your values. You might have a good system for tracking your vitals and you do it regularly, but you still feel like there's some, uh, you know, misalignment and, you know, pressure, uh, you don't feel like you're quite on track.
Speaker 1 00:17:33 And so that might be that situation can sometimes be like a, you know, like I mentioned, spousal conflict. And so, you know, that's, that's one of those, that's like an easy, hard thing. It's like have the conversation simple, but like not always so simple to have the conversation. I mean, at the end of the day, that's what you have to do is have the conversation about the issue and make a compromise and, you know, give more than you always give more than you, whatever your guts like saying you ought to give you double that and like compromise really. That's what I'm trying to say. So there's a lot of, lot of things that can make you feel like you're not in alignment and it really depends. Depends on, you know, what's going on in your situation. Maybe you are certain you're out of alignment. That's another, so we were talking, I'm talking before I was talking about like, what if you're not sure, like, you feel like you're doing pretty good, but like, you're just not sure if you're on track.
Speaker 1 00:18:31 Um, when I'm talking about now is like, you know, you're out of alignment, you're it doesn't take a rocket sign. It sounds, you're like, you know, I got, I'm definitely not going the right direction in this. We need to change. Um, that's I mean, getting to that point, that's actually a good thing. As long as you are going to take some action on it. Um, but the, the key is, you know, first of all, if you're there, that's great key is what action are you going to take to get back into alignment? And is everybody committed? So like both spouses have to be committed. Um, and typically it requires change because oftentimes you're out of alignment due to like, you know, not great habits over a long period of time. So you have to be on board with like changing those habits. These vitals will help you to shine the light on that.
Speaker 1 00:19:26 So if, you know, for sure, you're out of alignment, checking your vitals regularly can be kind of a regular way of saying, okay, you're making some progress, but you're still, still, still needs some work here. Or maybe you've gotten back on track and you're solid now. So the key though is taking action on. And I think tracking these is a small little step that'll help shine the light on it. And the bigger step is in like the daily actions, like the little stuff compounded, like all the little daily decisions. And I think that tends to come when you're aware of things. And that's what the vitals, so the, the whole intent behind these is like better awareness having a plan and better awareness. And so by, you know, measuring them or, you know, shining light on them and making them more in the forefront. You're going to be more likely to be thinking about them on a daily basis, which is going to translate to your little decisions over time.
Speaker 1 00:20:25 And so if you're listening to this and you feel like you're out of alignment, you're already on the right track, start tracking them. Think about what's one small change you're going to make, like, if you're having trouble with the action part, like just come up with one little tiny step, like whatever small step it is, what is one step you're going to take today that is going to move you in the direction of better alignment with what's most important. And so maybe that's like getting some life insurance or something like that, uh, or, um, or measuring, or, you know, reducing your spending ratio a little bit and, and making sure it gets saved, or it could be anything, but like the key is like, what does that for you? And then now how do we track it? Which that's what these vitals are, is like, let's look at it over time to make sure you're moving the right direction.
Speaker 1 00:21:18 Now. Hopefully all of you, um, are in perfect alignment. Now that's obviously that's unrealistic. None of us are, but like, hopefully you're working towards like better alignment in your, you know, in good alignment. If that's you, I would say, be thankful that's important and give yourself a pat on the back and don't be like trying to get to the next level. Cause it's like, you're already at a good level. Like what take it easy on yourself. Uh, and then also it's not like on the flip side, I guess it's not like, I'm I got this I'm good finances. A lot of times people will say like, well, you know, think that this whole like personal finance thing is like, uh, let's get a game plan together and like set it and forget it. Like, that's not how it works. It never works that way. You can't just like figure it out and then be done with it.
Speaker 1 00:22:11 It's always a lifelong thing. Even if you're rocking it now something's going to change. And it's going to be challenging if you don't have a challenge in your life, something's wrong. Like, I don't know. I think on Facebook we see people and we're like, they have the perfect life, but like in reality people don't, I mean, there's challenged. So inevitably things will kind of move back the other direction if you're human. And so be thankful that you're in alignment now, but also realize that there's, you know, it's something you need to not just put on the shelf and like not pay attention to you. You always need to be kind of check in this stuff over time. Um, little check-ins over time and put it on kind of, you know, you're on a maintenance plan, but there's still some like regular activity to keep tabs of all this stuff.
Speaker 1 00:23:00 So that, that brings me to the next point. Um, oftentimes we get the question, like how often should I check all these things? Or how often should I be looking at them, or if you're working with a financial planner, like how often are we looking at these things? And so I think it's good to, this is what we do. And this is what I would recommend to you. If you're doing this yourself, I think it's good to create kind of like a calendar system for your finances so that you have like regular reminders. Now, if you're working with us, that's part of what we're going to do is we'll look at things every so often and alert you if there's issues, but I'll talk through like what that might look like to kind of give you guys an idea of kind of give you a starting point.
Speaker 1 00:23:44 So first vital values. Um, I think that is good to look at annually or so I guess all these are good to look at if you have a big, huge change. So values is if everything's kind of going off on track everything's as is not a big, not a big change. I think values are good to look at annually. And if you have a big change, it's good to look at it right around that change time. But annually is a good routine, maybe up to every two years, if you have less going on. But, uh, that kind of annual routine I think is good for values. And what I mean by review? Well, if you, if you haven't documented it, the first time is going to be a little harder, but like, get it on paper. Like what's most important. Where do you want to go with your finances?
Speaker 1 00:24:34 Like the big non-negotiables write them down and prioritize them. And when you go put, I just literally would say, put a calendar invite or a calendar event in your calendar. If you have electronic calendar, just do it, the repeating annual event for whenever you happen to be doing it. So, you know, say it's now, now is a good time of year to be thinking about this is like new year's resolution time. So maybe it's now you do it today the first time. And then you set a reminder next year, same date. Uh, and so when you review it, you just pull out that list, you put up together this year and you just skim it and spouse needs to be involved. And then you just say, okay, well what's changed here. Or are there any new things? Are there any other things we want to work towards?
Speaker 1 00:25:22 Or maybe like, what do we want to work towards this year? Or, you know, so it's a quick kind of goal settings, uh, and re review of values. So that's an annual thing. I think it's good to do that annually second vital save, spend, give ratio. That is also I think, another, another good one to do annually. If this is a, is a definitely an if big, if you are feeling on track, if your ratio is in alignment with what you think it should be. So if you're spending and saving and giving is in alignment with what you think it should be annually, I think is a good check-in period to kind of look at that and review it and just double-check. But I found that that's probably one of the most common things that's out of alignment. So if you're not sure, or if you know, it's out of alignment, you kind of have to ramp that up.
Speaker 1 00:26:18 I think it's better to do it more frequently, depending on how out of alignment it is. If it's quite a bit out of alignment, I would say monthly. Um, so that's where your, and you could even take it to the level. I mean, you can get more detailed with this stuff. This is just kind of a high level check, but, um, you know, looking at your, where your money's going each month is a very good exercise. If you, especially, if you feel like that particular vital is out of alignment, it's kinda like your blood pressure. If your blood pressure is high, like start tracking it regularly like monthly or weekly or however frequent. And that way you have a better pulse on it and you can see improvements sooner. Um, so that's saved, spin, give ratio. It really depends on how well aligned it is the net worth, um, vital.
Speaker 1 00:27:08 Um, I think that's a good one. I think a general target is say semi-annually or as is the case with all these, you know, you might also want to do when big changes are happening, but semi-annual is, is a pretty good kind of routine for that net worth. And that's where you just update all your assets, update the liabilities date, stamp it, and, you know, look at if there's anything that needs to be worked on safety net check. So the fourth one that's I think that's a good one to do annually, maybe even every two years, especially if you're a, if you've got all your stuff in order, this one is going to depend a lot on like lifestyle and income. So let's say you're in training and you've gotten all your insurances where they need to be, and you have a S you know, a safety net of cash.
Speaker 1 00:27:57 Um, so like, I would say, you know, your safety net vital is solid. So in that case, like if you're in training and your financial situation, hadn't changed a lot. And like you, haven't your lifestyle hadn't changed a lot and you know, not, not nothing big. Um, maybe you can wait, you know, two, three years or so to, to look at that. And you can kind of do that less frequently versus if you're, um, transitioning into practice, that's the other extreme, it's like, income's going up lifestyle oftentimes is going up. And so that typically completely changes how all that safety net stuff's going to work for you, or even job changes like benefits change. So that's typically throws these out of whack. So it's good to, so safety net is very much so dependent on what's going on change wise, especially related to income and job and lifestyle.
Speaker 1 00:28:50 And so every year to two years is good for general. And if the stuff's not changing, but if big changes are happening, especially with those things, I would do it, you know, the best time is shortly before that type change happens. Um, and then the last one investment plan that's important to do quarterly. I think quarterly is a good routine for that, or if the market is crazy, especially if you have larger investment balances, especially if you have taxable investment accounts, it's important to you don't want to watch the market every day, like the stock market. Like if you have investments that get taxed, that aren't, you know, tax sheltered, like retirement plans are tax sheltered, but if you have non-retirement investment accounts, um, it becomes even more important to kind of keep a pulse on what's going on the market so that you can adjust things if need be to kind of minimize taxation.
Speaker 1 00:29:46 So, but a goal, a good rule of thumb is, is quarterly for investments. And so what that might consist of is just looking at your investment plan and doing a quick rebalance of those investments. And maybe, maybe it's even as simple as like you're in training and you're in a target retirement date fund. And, um, you don't even need to rebalance. You're just glancing at it. And you're like, okay, it looks good. On the other hand, if you're like, uh, quite a bit along in practice and you have lots of assets, lots of accounts, it gets a little more intensive. It's like, you know, that's typically gonna require rebalancing, making sure everything's doing what it needs to do, making sure you're in alignment with your investment plan. So those are, I think those are good kind of, uh, scheduling wise, uh, or frequency wise targets for these to be thinking about another question people, you know, typically will say, you know, are there other things, what other things do I need to be looking at besides this?
Speaker 1 00:30:47 So first of all, start here, don't get carried away. And even if you're having trouble with all these, like start small, so start with that. Maybe you start with values and save, spend, give ratio. That's a huge start, but don't get the cart ahead of the horse. Now you could come to a point where there definitely are other things you should be tracking. So there's, I mean, there's a million examples. It just, it depends on what the main vitals are. I think it's still good to have these as the key vitals. Uh, but there'll be stuff that kind of like you personally in your situation, uh, are going to need to keep tabs on, but it's going to, it's very much dependent on, um, your situation and there'll be other things like financially, like you need to look at education funding and make sure your college counselor, if you do, if you use those, make sure they're, you know, tracking the right direction, you know, you need to make sure and look at, um, business, any business related stuff.
Speaker 1 00:31:45 That's, there's a lot of financial stuff that ties into that. So there's definitely some other things outside of the scope of these kind of main vitals. Uh, but they're going to be very situational. Okay. So big takeaway here, come up with a plan to take action and get it on the calendar and start to get in that routine of checking these things and referring back to your values. So if you're, if you're DIY, you got to do that, you got to get it on the calendar. You got it. It's, you know, typical is like any DIY project. It's like, get out your calendar, put it on the calendar, make, get your spreadsheets created. Like, uh, we have some spreadsheets we can share. Um, you can check some of them we've already shared in the prior episodes, but, you know, get those in place, get it going.
Speaker 1 00:32:36 And you're off to the races. Now, if working with a financial planner, you can lean on them a lot, make sure they're kind of helping duties. A lot of times they're doing these behind the scenes. So for example, like the investment plan, we, um, most of our clients are like super busy and they're like, just, we want to make sure things are taken care of. Uh, but like we would rather not have like a barrage of emails. And so we're not like telling them every single detail about what we do always, but they're getting taken care of. So like with investments, we're looking at that every single quarter. And um, a lot of times it's like, everything's good and we don't actually have to make changes that particular quarter for that particular person. So we're not gonna like fill up their inbox with an email that says, Hey, we looked at it and everything looks good.
Speaker 1 00:33:25 So they might be doing things behind the scenes that, uh, you're not exactly aware of, but it would be, you know, it doesn't hurt to ask, uh, about things or, you know, see, uh, where they're at or, you know, maybe they're not aware of certain things and you can kind of bring that to their attention. Um, but, uh, you can, the nice thing about that setup is you can kind of lean on them for a lot of this stuff, but either way, the big thing is, as I mentioned, several times taking action, and I think if you can start to take, take action, it doesn't have to be perfect, but like this, the littlest step forward, I would try to focus on that. And that's how it starts stick that little step and then get in the habit. And then you can really go take this wherever direction it needs to go.
Speaker 1 00:34:13 Um, maybe you need to kind of educate yourself and read up on things and you can make that a goal and kind of add that in the more knowledge you have, it's just going to make all this stuff easier and less time consuming. So, you know, whatever direction it takes you, it always, you know, you gotta be taking that action. All right, well that is it for today. I hope it's been helpful. Uh, as I mentioned, please feel free to reach out with questions or if you have, uh, more specific topics, always welcome those and, uh, hope you have a great rest of your day. And, uh, we'll talk to you next time as always, thank you so much for joining us today. If you found this valuable, please give us a review on iTunes and share with a friend. Also check out our
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Speaker 1 00:35:04 See you next time. Finance for physicians is not an investment tax legal or financial advisor. All content included in this podcast is for informational purposes only and should not be considered financial tax or legal advice. Material presented is believed to be from reliable sources and no representations are made by finance for physicians as to another party's informational accuracy or completeness, all information or ideas provided should be discussed in detail with an advisor accountant or legal counsel prior to implementation. You don't have an advisor or like a second opinion. Feel free to check out our website for recommended advisors.
