What if money isn’t just money—but stored life energy?

In this episode, I reflect on the core premise of Your Money or Your Life by Joseph R. Dominguez and Vicki Robin and how it’s showing up in my own life as a physician. From reviewing Medicare reimbursement rates to comparing insurance-based care with cash-pay work, I share why the trade between effort, responsibility, and compensation is starting to feel misaligned.

We explore what financial independence really means, how much money is truly needed for a fulfilling life, and why many of the most meaningful activities cost very little. I also talk about the fear of stepping away from medicine, market risk, and the difference between an ideal life and a “good enough” one.

This episode isn’t about quitting medicine—it’s an invitation to pause and ask:

Is the way you’re trading your life energy for money still worth it?

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...

Long-term care is one of the biggest unknowns in retirement planning. While many physicians can estimate their retirement spending, it’s much harder to predict if, and for how long, long-term care will be needed.

In this episode, Elisa breaks down the real costs of long-term care, how long most people actually need care, and whether long-term care insurance makes sense for physicians.

Learn about:

• What counts as long-term care and typical costs
• How long people usually need long-term care
• The difference between self-insuring and buying long-term care insurance
• How long-term care insurance works—and its major downsides
• Who long-term care insurance may make sense for

This episode offers a practical, non–fear-based framework to help you decide how long-term care fits into your overall retirement plan.

To look at current cost of long-term care at different locations in the United States, check out https://www.carescout.com/cost-of-care

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...

How much do physicians actually need to retire comfortably? If you’ve heard numbers like $4 million—or more—and felt overwhelmed, you’re not alone.

In this episode, we break down where these retirement numbers come from, why physicians tend to think they need significantly more than the average American, and how to calculate a retirement target that actually fits your life.

Using data from Medscape, Northwestern Mutual, and the U.S. Census Bureau, we explore income differences, spending expectations, taxes, and the realities of retiring as a physician, especially if you’re considering early retirement.

What You’ll Learn in This Episode:

• What physicians report needing for retirement and how that compares to the average American
• Why higher income doesn’t automatically mean you need more to retire
• How delayed earnings and fewer high-income years affect physician retirement planning
• Why retirement planning is really about spending, not just net worth
• How taxes change your true retirement number
• The role of lifestyle choices and flexibility in determining how much is “enough”
• What to consider if you want to retire before age 60, including healthcare costs
• A better question to ask instead of “What’s my retirement number?”

Key Takeaway:

There is no single “right” retirement number for physicians. Your retirement target depends on your spending, lifestyle goals, taxes, and timeline—not what other doctors are doing.

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...

Why do physicians earning multiple six figures still feel financial pressure?

In this episode, we talk about why a high income doesn’t automatically lead to financial ease—and why many doctors feel stressed about money despite “doing everything right.” This isn’t about budgeting harder or cutting out every joy. It’s about understanding the real reasons behind that stuck, anxious feeling.

In this episode, we cover:

• What it really means for high-income doctors to “feel broke”
• Lifestyle creep vs lifestyle expansion, and why doctors are especially affected
• How delayed gratification during training shapes spending habits
• Why taxes and payroll deductions make high salaries feel smaller
• The difference between growing net worth and tight cash flow
• What actually helps: margin, flexibility, and values-based spending

If this episode resonated, you’re not bad with money—you’re navigating a complex financial season with real responsibilities.

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...

Most physicians assume that every dollar in their employer-sponsored retirement account belongs to them. That assumption can be a very expensive mistake.

In this episode of The Grow Your Wealthy Mindset Podcast, we break down vesting—what it means, how it’s governed by federal law, and why it matters when physicians change jobs or negotiate contracts. I also share a personal early-career mistake that cost me my employer contributions, and how understanding vesting later helped me make a strategic career decision worth tens of thousands of dollars.

You’ll learn the difference between cliff vesting and graded vesting, how academic, hospital, and private practice roles may differ, and the one action step every physician should take before leaving a job.

Key takeaway: Before you assume that money is yours, make sure it actually is.

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...

If you’re a physician with 1099 income, locums work, or a small private practice, choosing between a Solo 401(k) and a SEP IRA can have a huge impact on how much you’re able to save for retirement.

In this episode, we compare Solo 401(k)s and SEP IRAs in plain language and walk through real physician examples to show how contribution limits change based on income type, age, and whether a spouse works in the business.

In this episode, you’ll learn:

• The key differences between a Solo 401(k) and a SEP IRA
• Why SEP IRAs are simple—but often limiting for physicians
• How Solo 401(k)s allow higher contributions, especially after age 50
• When a SEP IRA might make sense
• How spouse employees and side income affect retirement planning

Physician scenarios covered:

• A high-income independent contractor physician
• A W-2 physician with locums side income
• A physician-owned practice with a spouse as the only employee

We compare contribution limits at age 45 and age 55 and explain why the Solo 401(k) often allows physicians to save tens of thousands more per year than a SEP IRA.

Key takeaway:

For many physicians, the Solo 401(k) offers more flexibility, higher contribution limits, and better long-term tax planning than a SEP IRA—but the right choice depends on how your income is structured.

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...

In this episode of The Grow Your Wealthy Mindset, we take a practical look at the differences between working as a 1099 independent contractor and a W-2 employed physician — and how each option affects your income, taxes, autonomy, and long-term wealth.

Whether you're thinking about locums, considering a new job offer, or re-evaluating your career path, this episode gives you a clear framework to make a confident, informed decision.

What You'll Learn

• Why more physicians are now employed

We explore the shift from physician-owned practices to hospital systems and private equity groups and how this change has impacted compensation, autonomy, and burnout.

• What it really means to be a 1099 physician

We break down the core advantages (flexibility, tax deductions, higher earning potential) and the challenges (buying your own health insurance, managing variable income, handling self-employment taxes).

• The reality of locums benefits

Most locums agencies do not provide traditional health insurance, but a few offer access to group plans or partner benefits.

• The pros and cons of W-2 employment

Predictable pay, employer-sponsored benefits, and built-in support vs. less schedule control and more administrative pressure.

• How to choose the right model for your life

We cover the mindset, financial considerations, and lifestyle factors that help you decide between 1099 and W-2 work, especially if you’re striving for more autonomy or aiming to grow long-term wealth.

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...

Are you a physician thinking about buying a home but tired of the usual “30% of your income” rule? In this episode, we explore how to figure out how much house you can really afford as a doctor, without relying on arbitrary percentages or just what a lender says you can borrow.

We talk about the smarter way to approach physician home buying, including:

· How to calculate the total cost of homeownership, factoring in property taxes, homeowners insurance, and maintenance and not just your mortgage payment.

· Why using a reverse budget helps you align your housing budget with your savings, investments, and long-term financial goals.

· How physician mortgage programs can allow no down payment and no PMI, and what that means for your overall financial plan.

With a step-by-step example, we break down the numbers in a way that’s easy to understand, showing how to make a financially smart home purchase that supports your lifestyle instead of constraining it.

Whether you’re buying your first home as a doctor or upgrading to your next home, this episode gives practical strategies to make a confident, informed decision.

Please subscribe and leave a review on your favorite Podcasting platform.

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang

Disclaimer: The content provided in the Grow Your Wealthy Mind...