Episode #22: Do You Feel Like You’re Wearing Golden Handcuffs?

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Are you feeling trapped in your job because of finances? Are you unsure if you could afford to make changes? A great place to start is to revisit your financial situation and strategy. Our guest, Rick Ferri CFA, is a Chartered Financial Analyst, author, podcaster, and proponent of low-cost investing. He’s here to talk about money, investing for retirement, and paying off debt. If you want to take charge of your money and have the freedom to make the career choices that work for you, come and listen in!

In this episode we’re talking about:

  • Can physicians afford to change their careers?
  • How much money do you need to retire?
  • Should you pay off your debt right away or invest the money?
  • How money management fees can adversely impact investment returns.
  • A simple, low-cost approach to investing.

Links for this episode:

(I have no financial affiliations with the individuals/companies listed below)

Rick Ferri’s Business Website
Core-4.com – Rick Ferri’s Sample Free Portfolios
The White Coat Investor

Not mentioned in the podcast – additional resources

Financial Residency
The Scope of Practice
Wealthy Mom MD
Doctor Money Matters
Passive Income MD

Thank you for listening!

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Heather Fork

5 Comments

  1. Carl Greer on March 27, 2021 at 2:22 pm

    Rick and Heather, Thanks for the perspective reset. It is freeing to know that it is possible to change to part-time work or follow Dr. Zimmerman’s lead (see retirement podcast). Get us past OMY and FOMO

    • Heather Fork on March 27, 2021 at 5:00 pm

      Thank you so much Carl for listening to both podcasts and commenting! We never want to feel trapped, right? Given all the training we do and the years we commit to this path, it should give us options and flexibility. I love this concept of the portfolio career – where you get to do a portfolio of different things, either sequentially or concurrently. Since physicians are typically life learners, we want and need to be able to keep learning new things and feel like we’re not gathering moss or going into a vegetative state. I hope your path is bringing good things your way!

  2. Modupe Oladeinde on April 3, 2021 at 2:29 am

    Hi Heather, this was a very useful podcast on financial planning, a lot of food for thought. Thanks to you and Rick.

  3. Steven Zachary Powell on April 11, 2021 at 2:24 pm

    This episode was one of the best so far! Mr. Ferri has a great outlook and hearing his advice was very settling for me and, I’m sure, many others who wrestle with complex advice from all corners. It is so true, we do not need as much as we are told we need in order to retire comfortably.

    • Heather Fork on April 11, 2021 at 3:32 pm

      Thanks so much for your great feedback Dr. Powell! I’ll make sure that Mr. Ferri sees your very enthusiastic comments. I’m glad that this episode was valuable for you and also that it gave you some peace of mind. You are right, it can be hard to know what advice to listen to. I think since everyone has different financial goals and lifestyle preferences, it’s good to gather information from a variety of sources but ultimately choose the approach that works for and resonnates with you.

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modupe

"Heather’s approach was great! She would listen to me and helped me appreciate who I am."

I remember when she said ‘do your resume before our next meeting’, I was about to push back but she gently nudged me along and I’m glad I did exactly what she wanted me to do. We also did interview prep via Zoom and I was offered a great job in UM. She has continued to follow up even after I was offered this job, helping me with pointers about negotiating. I will totally recommend the Doctors Crossing and Heather to anyone feeling stuck like me and looking for a great coach! Thank you Heather!

- Modupe Oladeinde, MD

Family Medicine