Ep 168 Financial Planning for Emergency Physicians

Emergency Medicine Cases

Dr. Anton Helman

Education, Health & Fitness, Courses, Medicine, Science

4.7 • 602 Ratings

🗓️ 26 April 2022

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode we discuss how to earn, spend, save and invest wisely and answer questions such as: What is time affluence and how should it guide our financial planning? Why should our goal be financial independence rather than retirement? What are the 4 evidence-based cornerstones for financial planning for happiness? What is the 4% rule for figuring out how much money one needs to be happy? How should we approach spending in a way that is sound? When should we start saving and how much should we save through our careers? What is more important: how much we save or our investment returns? How much do you need to be financially independent or retire? What are the first steps of financial planning? What are the advantages and disadvantages of having a financial advisor vs DIY financial planning? What are the biggest risks for investors? What are the first steps to becoming a DIY investor and many more...

Transcript

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0:00.0	Welcome to the Emergency Medicine Cases podcast.
0:05.0	I'm your host, Dr. Anton Hellman, bringing you Canada's brightest minds in emergency medicine from EMC studios in Toronto.
0:13.9	EM cases is part of SREMI, Schwartz-Risman Emergency Medicine Institute, the nonprofit organization dedicated to improving EM care through research and
0:21.3	education. The opinions expressed on this podcast are intended for information and education
0:24.3	purposes only and should not be used to diagnose treat or prevent any medical condition,
0:26.4	nor should they be used as a substitute for medical advice from qualified practicing physician.
0:31.2	On EM cases over the years, we've talked a lot about the various ingredients for enjoying a
0:36.4	fulfilling career in emergency medicine.
0:39.1	If I stop and think about it, that's really what EN cases is all about.
0:42.9	Learning how to be a better doc by sharing our knowledge in an engaging and effective way
0:48.0	so that we can all go to work feeling good about what we do, save some lives, and improve outcomes.
0:53.3	But you can't really come up with all the ingredients of enjoying a fulfilling career in EM
0:58.2	without talking about money.
1:01.9	Cold, hard money.
1:05.0	And it's something we don't talk about that often at work.
1:08.2	Especially if you work in an academic center, it seems almost sinful to talk about
1:12.3	money. After all, in EM, it should all be about taking care of patients as best we can, right?
1:20.4	Well, I'd argue that it's really challenging to take great care of patients unless we're somewhat
1:26.4	comfortable with our financial situation.
1:29.0	Because if we're practicing EM just to make money, we'll probably end up very unsatisfied and not
1:35.7	taking good care of patients. And if we hardly think about money at all and don't have a good
1:41.3	financial plan, we might end up having to work for way longer than we
	...

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