A Clean Bill of Wealth with Galen Nuttall

How to Become a Money Smart MD with Dr. Matt Poyner

Dr. Matt Poyner is a physician who empowered himself around his finances and is now doing the same for other physicians.

He also took a year off with his wife and four children, travelled the world, and blogged about it, which is really amazing. 

Part of how Dr. Poyner helps physicians is to help them clarify their financial path forward, one of the big questions he gets is "Should I become a DIY investor?" To help answer that, he's come up with the three signs you might be a candidate for doing your own investing. Tune in to hear what they are. 

Matt goes deeper than just the numbers and looks at the intersection of money and happiness. We talk about a cool concept Dr. Poyner refers to as the 'four f's of evidence-based happiness'. Listen in to see how you rate yourself on those four f's.

Also, listen in to see how to avoid the ‘one more year’ trap that sometimes keeps physicians working longer than they need to.

To learn more about Dr. Poyner's course head on over to www.moneysmartmd.com

If you have any questions for Matt, you can email him directly at: moneysmartmd@gmail.com

To learn more about the investing side of what Matt has discovered, check out www.dividendstrategy.ca

Making Cash Flow Fun with Sunny Wishart, CFP

What relationship do you have with the longest ‘four letter word’ in financial planning? Of course, I’m talking about ‘budgeting’.

I had never done an episode about cash flow, and when I met Sunny, I realized she is the perfect person for this episode, because she makes it fun.

Sunny is a zero-judgement financial planner who rolls up her sleeves and digs deep into real money talk. In this episode Sunny and I talk about how to look at cash flow and budgeting without getting bogged down by shame and judgement.

We also talked about a common catch-22 in planning, where many people feel like they can’t start a plan until they have a budget they can stick to.

Sunny and I talked about how to overcome that and keep it from being a limitation from creating a plan that will work for you.

We found amazing common ground on a concept many of my own clients follow, which is called ‘reverse budgeting’.

We also talk about why cash flow is a cornerstone of every good plan.

Tune in to see what approach works best for you.

To learn more about Sunny, check out her work at:

https://www.alacartefinancial.ca/

If you have any questions for Sunny directly, you can reach her at:

sunny@alacartefinancial.ca

Critical Financial Concepts for Canadian Physicians with The Loonie Doctor, Mark Soth, MD

When I first came across Dr. Mark Soth's website: https://www.looniedoctor.ca/ I was blown away by the amount of content created by just one guy. 

In case you haven't heard of The Loonie Doctor, Dr. Soth is a mid-career academic ICU doctor. He has been helping Canadian physicians and other high-income professionals to not get hosed (nor be hosers, eh) with their time and money since 2017. 

He's got insight into insurance, investing, incorporation, taxation, and much more. He also has some cool calculators to help put some numbers behind his insight.

He also goes into some of the more personal topics like wealth and happiness and earning versus spending. Be sure to go to his website to check it all out. 

In this episode I learn from Mark what inspired him to learn so much about finance and then share it with his colleagues. We also talk about why he himself uses a financial advisor and the important difference between delegating and abdicating when it comes to working with a financial professional. 

Join me in this episode to gain insights from a doctor who is very knowledgeable about all things finance and physicians. 

Why Traditional Financial Planning Does Not Work for Canadian Physicians.

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

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

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

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

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

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

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.