Wealth Minded MD

Your contract is likely approaching its automatic renewal date, but that doesn’t mean you have to settle for the same terms. In this episode, we share practical, high-impact tips on how to renegotiate your work contract before it auto-renews. Learn how to determine your value, identify who has the authority to approve changes, compare your compensation to industry standards, and clearly define what you want—whether it's a new pay structure, a different schedule, or a change in location. We also highlight why timing matters, especially around the end of the fiscal year. Tune in for actionable advice to help you secure better pay, improved schedules, and more favorable work conditions.   [00:02:54] How to Negotiate Your Salary and Employment Contract Effectively[00:14:52] Step-by-Step Guide to Renegotiating Your Work Contract[00:26:29] How to Get Your Manager’s Support in Contract Negotiations[00:27:08] Using Negotiation Scripts to Boost Your Confidence and Results[00:28:06] How to Determine Your Market Value Before Negotiating[00:30:44] Identifying Key Contract Changes: Salary, Schedule, Location[00:33:12] Negotiation Tips for Non-Salary Benefits and Work Conditions[00:40:36] How to Clearly Articulate Your Professional Value Ready to increase your income at your job? Join the waitlist for our Negotiate Like a BOSS accelerator!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!  Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!

The economic headlines might feel overwhelming; stocks are going up, stocks are going down, and maybe you or people around you are starting to panic—but there are smart ways to protect your finances. In this episode, we address the recent fluctuations in the stock market, the impact of tariffs, and the financial uncertainty many are facing. We discuss the importance of maintaining a long-term investment strategy and offer actionable advice on securing income through long-term disability insurance, revisiting debt payoff strategies, and maintaining multiple income streams. Plus, learn the importance of diversifying investments and being prepared for potential economic downturns while making smart financial decisions. Tune in now as we detail our plan of action amidst economic chaos.   [00:03:47] Current Economic Climate and Its Impact on Careers[00:08:05] Market Fluctuations and Investment Strategies[00:20:09] Debt Payoff Strategies and Financial Adjustments[00:27:13] Navigating Tax Season: 1099 Income and Quarterly Payments[00:31:18] Conference Trip to St. Louis and Easter Fun   Ready to increase your income at your job? Join the waitlist for our Negotiate Like a BOSS accelerator!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!  

What do you do with an old 401(k)? Should  single people buy life insurance? And how do you let yourself actually enjoy your money after years of frugal living? In this episode, we answer listener-submitted questions that touch on common financial challenges physicians face. We break down rollover options for a small 401(k), including pros and cons of using a Roth IRA or your new employer’s plan. We also dive into when life insurance is necessary and when it might be okay to wait.  Plus, for those struggling to transition out of the frugal residency mindset, we share strategies for spending with intention while still staying on track financially. Tune in for actionable advice and real-life insight to help you navigate these key financial decisions with clarity and confidence.   [00:05:32] Navigating Financial Differences in Marriage[00:10:45] What to Do With an Old 401(k)?[00:17:30] Do I Need Life Insurance as a Single 30-Year-Old Woman?[00:22:40] How to Shift From a Saver Mindset to Allowing Spending?[00:26:53] Destination Weddings & First-Class Flights We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp! Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!

If you have access to a 457(b) through your employer and you're trying to figure out whether it's a smart move for your financial future, we've got you covered. In this episode, we dive into the intricacies of the 457(b) retirement account, a powerful yet often overlooked option for high-income earners. We break down the key advantages, such as tax-saving benefits and investment growth, and walk you through the critical considerations, including employer stability, income thresholds, and distribution rules. We also explain the differences between governmental and non-governmental plans and why that distinction matters. Tune in for a detailed analysis to help you determine whether a 457(b) fits into your long-term financial strategy!   [00:02:08] It’s Dr. Brittne Halford’s Birthday![00:11:02] Understanding 457(b) Retirement Accounts [00:20:54] Drawbacks of Deferred Compensation Plans for High-Income Earners[00:23:51] Income Thresholds and Work Requirements for 457(b) Plans[00:24:56] 457(b) Distribution Options & Tax Implications[00:26:35] Governmental vs. Non-Governmental 457(b) Plans[00:29:27] Should You Contribute to a 457(b)?   We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!    Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!

Taxes don’t have to be a headache, especially when you know how to work the system! In this episode, we’re diving into non-traditional tax-saving strategies for high-income earners. Learn how Dr. Brittne saved $25,000 on her taxes by investing in oil and gas. We’re breaking down the benefits, risks, and key steps to vetting these alternative investments, so you can decide if they’re the right fit for your financial strategy. Plus, we’re covering how to maximize immediate deductions and build long-term wealth while keeping more of your hard-earned money. Tune in to learn how to effectively reduce your tax burden while diversifying your investment portfolio.   [00:13:41] Tax Season Tips & Smart Strategies to Maximize Savings[00:22:49] How to Make Your First Investment in Oil and Gas[00:23:04] Oil and Gas Investment Tax Benefits, Risks, and Challenges[00:35:56] How to Evaluate and Vet Oil and Gas Investment Opportunities[00:41:37] Understanding Tax Implications and Returns from Oil and Gas Investments[00:46:36] Who Should Consider Oil and Gas Investments?   We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!    Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!

Tax season is approaching, and while it might feel like a roller coaster, we’ve got your back! In this episode, we’re sharing practical strategies to navigate the chaos, reduce stress, and stay on top of your tax game. Discover how to make the most of tax professionals and strategists, manage the flood of tax documents, and uncover valuable deductions, even if you don’t have a mortgage or kids. We also break down the perks of filing tax extensions, the importance of making quarterly tax payments, and how to maximize credit card points when paying your taxes. Plus, we’re spilling the details on how to stay organized, save money, and keep tax season from feeling overwhelming. Tune in for tips that’ll make tax season feel a little less taxing!    [00:02:04] Tax Season Struggles and Strategies[00:04:00] How Employing Your Child Can Provide Tax Benefits[00:13:33] Hiring a Tax Accountant vs. Doing It Yourself[00:24:25] Navigating Business Partnership Taxes[00:25:21] Mastering the Basics of Tax Filing and Compliance[00:28:02] The Benefits of Filing Tax Extensions and Exploring Cash Balance Plans[00:34:03] Quarterly Tax Payments and How to Navigate Safe Harbor Rules[00:40:45] Maximizing Tax Deductions[00:45:15] 'Fun money' moments after managing their tax obligations We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com.   Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!    Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!

Juggling multiple retirement accounts can feel like a financial circus, but with the right strategy, you can make them work for you. In this episode, we dive deep into strategies for managing and maximizing multiple retirement accounts. Learn how to navigate various tax-protected accounts to your benefit, understand the differences between employee and employer contributions, and prioritize accounts to get the most out of employer matches. We also cover IRS rules, tax implications, potential pitfalls like overfunding, and balancing pre-tax and Roth contributions. Tune in now and turn your scattered retirement accounts into a cohesive and profitable strategy, setting yourself up for long-term financial success!    [00:12:03] Navigating Multiple Retirement Accounts[00:21:14] Maximizing Retirement Matches with Multiple Jobs[00:22:05] Understanding Contribution Limits and Types[00:23:14] Strategizing Contributions Across Employers[00:27:34] Employer Contributions and Tax Diversification[00:32:25] Navigating IRS Rules and Overfunding   We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!  Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!  

If you have a side gig, there’s a powerful way to grow your wealth while protecting it from taxes. In this episode, we delve into the benefits and nuances of Solo 401ks and the advanced Mega Backdoor Roth IRA strategy. Discover how a Solo 401k lets you contribute as both an employee and employer, and how it can be an excellent option for self-employed professionals and those with side gigs. We also break down the distinctions between basic and 'fancy' Solo 401k plans, highlighting the significant tax advantages and contribution limits. Additionally, the discussion includes potential drawbacks, such as the need for a third-party administrator and additional IRS reporting requirements, ensuring you have a comprehensive understanding to make informed financial decisions.  Don’t miss this deep dive into smarter, tax-efficient investing! [00:05:25] What is a Solo 401k and How Does it Work?[00:10:44] Employee and Employer Contributions Explained[00:14:59] Tax Benefits and Financial Strategies[00:17:45] Choosing the Right Retirement Account[00:22:21] Maximizing Contributions with Mega Backdoor Roth[00:27:48] Setting Up a Customized Solo 401k[00:30:24] Drawbacks and Considerations of a Solo 401k[00:37:28] Brittne’s latest sweatsuit find and Lisha’s cousins’ cruise vacation to Greece!   We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!  

Too many people leave money on the table simply by not optimizing their finances. In this episode, we discuss actionable ways to elevate your financial well-being in 2025,  from being mindful of where to keep your cash for the best returns to canceling unnecessary credit cards and consolidating retirement accounts for simplicity.  We also delve into the importance of having a clear student loan repayment plan,  optimizing retirement account contributions, adjusting tax withholdings, ensuring you have the right insurance, and the advantages of consolidating accounts from previous employers. Tune in for smart financial moves that will help you upgrade your financial life.   [00:09:04] Student Loan Confessions and Strategies[00:16:20] Maximizing Your Cash and Credit Cards[00:30:55] Understanding Private Student Loans and Refinancing[00:34:10] Consolidating Retirement Accounts for Simplicity[00:37:29] Maximizing Retirement Contributions[00:39:42] Adjusting Tax Withholdings for Extra Income[00:43:23] Reevaluating Insurance Needs[00:47:46] Keeping Track of Business Expenses[00:52:04] Updating Estate Planning[00:53:24] Lisha’s Girl Scout Cookies and Brittne’s Safety Belts Travel Hacks   We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!    Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us. Wishing you a fantastic week ahead and happy wealth building!

Despite your best intentions, you’re probably wasting money without even realizing it. In this episode, we explore the hidden money leaks draining your budget and how to stop them. From bank and investment fees to whole life insurance and overlooked expenses like unused gym memberships, streaming services, and digital storage costs, we dive deep into the financial pitfalls that are easy to overlook. Plus, we tackle the financial and environmental downsides of fast fashion and bottled water consumption, and share practical tips to increase energy efficiency at home and review subscriptions to avoid wasteful spending. Tune in for practical strategies to stop the leaks, save more, and take control of your spending habits! [00:08:08] Avoiding Money Leaks[00:10:55] Hidden bank fees, investment fees, and the pros and cons of whole life insurance[00:22:30] Credit card and add-on fees you should watch out for[00:25:18] Unused goods and services that cost you money[00:33:08] Fast fashion and its hidden financial and environmental costs[00:36:59] The bottled water dilemma and how to break free from unnecessary costs[00:39:19] Balancing energy efficiency at home to save money We want to enhance your podcast experience with us. Please fill out our super quick 6-question survey. Your input helps us to deliver content that resonates with you!   🎉This episode is sponsored by  PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing info@pkainsurance.com. Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query. Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint. Claim your debt freedom with our boot camp!Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.   Wishing you a fantastic week ahead and happy wealth building!