Money Meets Medicine

Recent Episodes

1. Are Doctors Fairly Paid? Inside the 2026 Compensation Data

   Aug 5, 2026

   Jimmy Turner and Justin Harvey analyze Medscape's 2026 physician compensation report, which surveyed approximately 6,000 doctors across 29+ specialties. They examine four key findings: 28% of physicians report earnings below family needs despite earning $266K–$417K; a paradox where 53% feel personally fairly compensated but 61% believe the profession is underpaid; 70% of doctors rarely or never negotiate compensation due to employer "no negotiation" policies; and 40% maintain side gigs outside clinical medicine. The hosts discuss how fixed compensation models suppress high performers, moral injury from insurance denials, and why autonomy losses drive physicians toward entrepreneurship.

2. Red Flags in Private Practice Job Offers

   Jul 29, 2026

   Michael Johnson, a physician contract attorney, discusses red flags and evaluation strategies for private practice partnership opportunities with Dr. Jimmy Turner. The episode breaks down the critical distinction between partnership in name versus actual ownership, guides physicians through pre-ownership track compensation analysis, and explores real estate and facility fee ownership structures. Johnson provides eight essential questions physicians should ask when evaluating partnership buy-in opportunities to avoid costly mistakes.

3. Trump Accounts: What You Need to Know

   Jul 22, 2026

   Dr. Jim Turner and Justin Harvey discuss Trump Accounts (530A accounts), a new government program launched July 4, 2025, that provides $1,000 in government funding for children born during Trump's tenure (2025-2028) and allows parents to contribute up to $5,000 annually. The hosts explore the mechanics of these child-owned accounts, their similarities to traditional IRAs, tax implications including basis tracking, and where they fit in a savings hierarchy relative to 529 plans, Roth IRAs, and other investment vehicles. They address who should consider these accounts, behavioral finance concerns around giving large sums to 18-year-olds, and the importance of aligning account decisions with personal financial goals and values.

4. Physician Tax Strategy: W2 vs 1099 vs K1

   Jul 8, 2026

   Spencer Carroll, a CPA and leading account executive at Gelt, discusses advanced tax strategy for physicians across different income structures. The episode covers why W2 income offers limited tax optimization opportunities, how 1099 and K1 business ownership unlock significant tax benefits, S Corp strategy and reasonable salary determination, and the role of AI-powered tools in modern tax planning. Carroll emphasizes that effective tax strategy requires complexity—ideally through business ownership—and warns against pursuing tax strategies solely for their deductions without sound underlying investments.

5. Why FIRE Isn't the Goal (FIWO)

   Jul 1, 2026

   Dr. Jimmy Turner and Justin Harvey discuss Financial Independence Work Optional (FiWo) versus the popular FIRE (Financial Independence Retire Early) movement among physicians. Turner argues that FIRE often leads to arrival fallacy and existential crisis, sharing his personal experience of burnout, going part-time, and struggling with loss of purpose. The episode emphasizes that financial freedom is a tool, not an end goal, and that physicians should focus on understanding root causes of dissatisfaction before making drastic career changes.

6. Saving Less Saved My Career (Coast FIRE)

   Jun 24, 2026

   Jimmy Turner, an academic anesthesiologist at Wake Forest, discusses how reducing his clinical workload from 1.3 FTE to part-time practice saved his career and mental health. The episode explores the concept of Coast FIRE—leveraging high savings rates in the first 2-3 years post-training to achieve financial independence by the mid-40s while working reduced schedules. Turner shares his personal burnout experience, the importance of time autonomy, and how a 30% wealth accumulation rate early in a physician's career can provide long-term flexibility without extreme sacrifice.

7. Why Many Doctors Live Paycheck to Paycheck

   Jun 17, 2026

   Justin Harvey, a certified financial planner specializing in physician wealth management, joins Dr. Jimmy Turner to discuss why high-earning physicians often live paycheck to paycheck despite earning $250k–$400k+ annually. The episode explores psychological money phenomena like lifestyle inflation (the Diderot Effect), leverage risk, and analysis paralysis that trap doctors in financial stress. Harvey and Turner emphasize the importance of intentional spending, creating a financial plan early in attending years, and maintaining optionality for career flexibility a decade forward.

8. Is Loan Forgiveness Worth a $300K Tax Bill?

   Jun 10, 2026

   Dr. Jimmy Turner and Justin Harvey discuss a complex student loan scenario involving a high-income married couple—an anesthesiologist earning $600K and a dentist earning $225K with $400K in federal loans at 7% interest. The couple is considering taxable forgiveness through income-driven repayment plans while filing taxes separately to minimize monthly payments, but faces a potential $300K tax bill in 20 years. The hosts explore the tradeoffs between taxable forgiveness, refinancing, PSLF eligibility, and the psychological/financial implications of each strategy, emphasizing the importance of professional consultation and the complexity of student loan planning.

9. New Student Loan Rules: The $100K Mistake

   Jun 3, 2026

   Dr. Jim Turner, host of Money Meets Medicine, delivers a comprehensive solo episode on the May 2026 Department of Education final ruling implementing the Working Family's Tax Cuts Act (formerly the One Big Beautiful Bill Act). The episode details major changes to federal student loan repayment plans—specifically the elimination of PAYE, REPAYE, and ICR in favor of the Repayment Assistance Plan (RAP) and Income-Based Repayment (IBR)—and the critical implications for residents and fellows. Turner walks through the "RAP to IBR playbook," explaining how physicians can strategically use RAP during training (with its valuable interest subsidy preventing loan balance growth) and then transition to IBR post-training, with particular emphasis on the July 1, 2026 eligibility cutoff and the permanent consequences of consolidating loans after that date.

10. Should You Rent or Sell Your House When You Move?

    May 27, 2026

    Justin Harvey and Dr. Jimmy Turner discuss whether physicians should rent or sell their home when relocating for training or career moves. Using a listener's question about a couple moving from Georgia to New York for fellowship, they explore the financial math of rental properties, the psychological appeal of real estate as a wealth-building tool, the critical Section 121 capital gains exclusion rules, and the often-overlooked realities of becoming a landlord—including maintenance costs, property management fees, and tax implications.