A Clean Bill of Wealth with Galen Nuttall
Why Traditional Financial Planning Does Not Work for Canadian Physicians.

Why Traditional Financial Planning Does Not Work for Canadian Physicians.

August 29, 2022

Welcome to my first solo episode!

I talk about why traditional financial planning does not work for Canadian physicians. 

I have a private Facebook group specifically for Canadian Physicians and I opened up a poll in there asking which concepts people wanted me to cover. 

The ones that rose to the top were
- Paying off debt or investing
- How to make the most of my corporation
- Whole life versus term life insurance
- How to create my own pension

I will cover those, but realized before I do, it's very important to understand why so much of the advice out there does not apply to the reality of the Canadian physician. 

The main reason is because of the corporate structure. Most physicians I meet are incorporated or should be incorporated. This adds a layer of complexity that makes simple questions now more complex.

Once a physician is incorporated, a whole new slew of questions arises. How much should I pay myself and how? Should I retain earnings in my corporation? How can I invest inside of my corporation in a way that is tax efficient?

I will cover these topics in future episodes, but first this episode is all about framing financial advice in a way that works for physicians. 

If you have any questions about the work I do, or would like to schedule a no-obligation call to see if you are a good fit for my services, go to: www.galenhelpsdocs.com

Creating Time Even When You Are Overwhelmed

Creating Time Even When You Are Overwhelmed

August 12, 2022

I'll admit that often times get stuck in a trap around time. That I don't have enough for the things that matter most to me.

But... I also wonder... "Well isn't that the way it has to be?"

Thankfully Dr. Gallie is a masterful life coach and in this episode she'll help you start to crack the code on how to shift the story around time. 

Annie is a practicing physician with a passion to help high achievers stop feeling overwhelmed so they can go after what they truly desire (and have fun doing it).  One of the main obstacles that she sees her clients struggle with is lack of TIME.  She helps her clients reframe how they think about time by showing them how to create time instead of trying to “find” time amidst their busy schedules.

She's also holding a workshop Sunday August 14th around how to create time during which you will learn how to:

  • Create more time, now. Not when you buy that new calendar, but now

  • Understand where and how you can create more time

  • Help to manage expectations with yourself and your partner in regards to time

Annie is a practicing family physician in Calgary, Alberta and a trained life coach through The Life Coach School.  She is married with two small kids and a quirky dog.  When she is not exploring with her family in the forest, you may find her making muffins (very popular in her house) or cooking with her family. 

Be sure to listen to this episode and register for the event at www.galenhelpsdocs.com/marriage

How to Stop Keeping Score and Create Unity in Your Relationship

How to Stop Keeping Score and Create Unity in Your Relationship

August 6, 2022

Exactly one year ago a good friend of mine said "Galen it's great that you're creating all these resources for physicians, but what about the spouses and partners of physicians, how do you support us?"

That conversation planted the seed in my brain that led to this podcast episode and the upcoming event on August 14th for physicians and their significant others. 

Let me introduce Sara, who is a master certified life coach, mother of 4, and wife to Ryan, a foot and ankle surgeon.

Sara coaches physician spouses and intimate partners to create rock solid marriages.

Sara helps intimate partners of physicians drop the scorecard in their marriage, come out of the shadow of their partner's career, and pursue what lights them up.

To learn more about Sara, be sure to check her out at: www.sarapayne.com/

To register for the event Strengthening Medical Marriages on Sunday the 14th that will be featuring Sara and another physician life coach, be sure to go to: 

https://www.galenhelpsdocs.com/marriage

Using your money archetype to make financial decisions with Brenda St. Louis

Using your money archetype to make financial decisions with Brenda St. Louis

July 3, 2022

The Tyrant, the Artist, the Warrior, the Wizard...

Which money archetype best describes you?

Brenda St. Louis believes that every person has a money archetype that shapes the way they relate to money. She helps people discover theirs and then use that knowledge to empower them to make better money decisions.

Brenda St. Louis is an Accredited Financial Counselor, Financial Therapist, Certified Money Coach, Trauma of Money Facilitator, and a Certified Financial Planner Candidate.

In this episode we talk all about how people's underlying beliefs about money can either empower them or sabotage them.

She helps me see the value in knowing our own money archetypes and taking on practices to transform the way we relate to wealth and money

To discover your money archetype by taking the quiz, head on over to www.brendastlouis.com

To download my service guide and get access to my guide on how advisors get paid and how to pick an advisor that is a good fit for you, head over to www.galenhelpsdocs.com

Financial Literacy for Physicians and How to Eliminate Pension Envy with Dr. Vu Kiet Tran

Financial Literacy for Physicians and How to Eliminate Pension Envy with Dr. Vu Kiet Tran

May 21, 2022

One day Dr. Tran had a brutal wake up call around his finances. He took a look at his portfolio and saw it had been languishing for a decade, not even keeping up with inflation. 

Done with the hands-off approach, he decided to educate himself around all things finance and dive deep into the reality of physician financial planning and corporations. 

Out of this self-discovery he created the podcast "How's My Financial Health, Doc?" where no financial topic is too taboo AND he is the President of the Canadian Physician's Pension Plan. 

Join me and Vu as we tackle subjects like: 

- Can physicians create their own pension?
- How much should you outsource and how much should you figure out on your own?
- Is there black-and-white financial advice for physicians, or is it more complex than that? 

To learn from one of the top physicians in Canada when it comes to financial literacy, be sure to give this episode a listen.

To check out Vu's podcast and programs go to: www.financialhealthdoc.com/

Practice Transformation via Coaching and Peer Support with Dr. Wing Lim

Practice Transformation via Coaching and Peer Support with Dr. Wing Lim

May 13, 2022

I had a flat-out amazing conversation with Dr. Wing Lim about practice transformation, finances, and peer support all for physicians. 

Dr. Wing Lim is a family physician based out of Western Canada and co-founder of Physician Empowerment, a group of physicians out to enhance the lives of doctors across Canada with their financial literacy, practice transformation, and coaching programs. 

In this interview, Dr. Lim shares with me the rough road that led him to take control of his finances and the struggles he sees physicians face behind closed doors. 

We also talk about the upcoming Physician Empowerment conference to be held in Toronto June 3-5th, which also has a streaming option. 

To check out the amazing lineup of speakers and secure your spot, be sure to go to https://www.physempowerment.ca/live and use promo code 'GALEN' to get your discount. 

Empowering Physicians Around Their Finances With Dr. Kevin Mailo

Empowering Physicians Around Their Finances With Dr. Kevin Mailo

April 24, 2022

The doctor so nice, I had to interview him twice. 

Dr. Mailo is an emergency physician based out of Edmonton, Alberta, the founder of Physician Empowerment, and an all-around great guy. 

In this episode we talk about key things Dr. Mailo has learned from working with physicians and providing them with a financial education for the past many years. 

We talk about examples of 'million dollar conversations', conversations that are worth a million dollars of impact. 

We also talk about the key takeaways from the upcoming Physician Empowerment conference coming up June 3-5th in Toronto (with a virtual option of course). 

To register for the conference be sure to visit https://www.physempowerment.ca/ 

Don't forget your promo code! Type in GALEN into the promo code box when you register to get your discount. 

I hope you enjoy listening to this episode as much as I enjoyed making it. 

Physician Empowerment and Real Estate Investing with Kevin Mailo, MD

Physician Empowerment and Real Estate Investing with Kevin Mailo, MD

February 27, 2022

This was an episode a long time in the making and just in time for our upcoming Webinar about Real Estate Investing for Busy Physicians, coming up on March 5th at 10am EST. 

Click here to register: https://www.galenhelpsdocs.com/real-estate

Join me and Dr. Mailo as we explore physician empowerment, financial literacy, real estate and sleeping better at night and providing better care to patients via financial peace of mind.

Dr. Kevin Mailo is a full-time emergency physician and founder of Physician Empowerment – an organization dedicated to transforming the financial and professional lives of Canadian physicians. He has been active in real estate for over 10 years.

He is the founder of Physician Empowerment – an organization dedicated to transforming the financial and professional lives of Canadian physicians.

Have fun listening and be sure to register for the webinar if you'd like to learn more about Real Estate Investing. 

A Female Physician’s Perspective on Personal Finances and Intergenerational Wealth

A Female Physician’s Perspective on Personal Finances and Intergenerational Wealth

January 29, 2022

Check out this amazing conversation with Dr. Stephanie Zhou where she shares loads of what she's learned about finance for physicians as well as much more. 

In this episode we talk about: 
- Financial literacy for physicians
- Intergenerational wealth among immigrant families
- Equity, Diversity, Inclusion, and Belonging research

Dr. Zhou practices Addictions Medicine at Sunnybrook Hospital and is a Lecturer for the Financial Literacy curriculum at the University of Toronto Faculty of Medicine. In addition to financial education, she also does research in Equity, Diversity and Inclusion and co-developed the Diversity Mentorship Program at UofT.

She is also the creator of the Physicians Financial Wellness Conference, for early to late career physicians.

In her spare time, she blogs about personal finance on Instagram and Youtube @breakingbaddebt and about Equity, Diversity & Inclusion on Twitter @stephanieyzhou

Coaching for Physicians who feel disconnected from their purpose with Dr. Randy Cook

Coaching for Physicians who feel disconnected from their purpose with Dr. Randy Cook

January 8, 2022

Check out this amazing conversation with Dr. Randy Cook around coaching for physicians. 

Dr. Cook is the host of 'RX for success' podcast where he spotlights physician leaders as they reflect on the elements that helped them in their journey to success. 

He brings more than four decades of beside practice to the table as we talk about the intersection of practice and well-being. Dr. Cook shares with me what he has gleaned from interviewing medical professionals as well as his own experience. 

We talk about how physicians are handling the shifting landscape of medicine and how he and his coaches support physicians who feel like they no longer belong in medicine or are looking for a creative outlet outside of their practice. 

Check it out and check out Randy's podcast at: https://rxforsuccesspodcast.com/

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