Advertise on podcast: Wealth Planning for the Modern Physician

Host David Mandell welcomes Earned retirement plan specialist Nick Gizzarelli to discuss how retirement plan decisions fit into a physician's broader wealth and tax strategy. Nick explains why plan design should reflect retirement savings goals, income, career stage, and the makeup of a practice's workforce. The conversation explores fiduciary responsibilities for practice owners, the costs and funding commitments that can accompany different plans, and the value of reviewing an existing plan's fees, investment options, and administration. David and Nick also discuss why retirement plans should be revisited as a practice grows and a physician's circumstances change. For employed physicians, Nick outlines questions to ask about 401(k) and 403(b) plans, Roth contributions, and employer contributions. They also explore how 1099 side income may create additional retirement planning opportunities and discuss potential policy developments affecting plan sponsors and participants. Key Takeaways Plan design starts with the full picture. Savings goals, taxes, workforce demographics, and anticipated income changes all influence which retirement plan structure may be appropriate. Practice owners need to understand their fiduciary responsibilities. Reviewing administration, fees, investments, and funding requirements can help identify concerns and opportunities for improvement. Employed physicians may have opportunities beyond their workplace plan. Understanding employer benefits and coordinating any separate plan for eligible side income with a retirement specialist and CPA can support a more complete strategy. Insights Nick explains the retirement plan credentials and fiduciary focus that inform his work with medical practices. Qualified retirement plans connect long-term savings goals with tax planning for physicians and practice owners. Employers sponsoring retirement plans should understand the responsibilities they take on and seek qualified support where needed. Workforce size and demographics can affect employer contribution requirements and the overall cost of a plan. 401(k), profit-sharing, and cash balance plan decisions should account for funding commitments and projected income. A retirement plan should be reviewed as earnings, business structure, savings needs, and tax rules evolve. A plan review may examine its platform, administrative fees, investment expenses, funding design, and participant outcomes. Employed physicians should ask which plans are available, when they become eligible, and how to receive the full employer contribution. Roth 401(k) contributions and Roth IRA contributions have different eligibility rules, a distinction Nick highlights for high-income physicians. Resources: After-Tax Alpha: Quantifying the Value of Integrated Wealth and Tax Management for Doctors | Get Your Free Report Free Copy of Wealth Strategies for Today's Physician | Get Your Free Copy For more information and access to any offers, please visit earned.com/wpmp. To connect with Nick and the retirement plan specialists team at Earned, please email [email protected]. About the Guest Nick Gizzarelli, CPFA™, CBS™, QPA™, QKA® is a retirement plan specialist at Earned with approximately 15 years of experience in the retirement industry. He works with private practices, self-employed clinicians, and medical groups on retirement plan design, administration, and fiduciary considerations. He is an active member of the American Retirement Association. About the Host David Mandell, JD, MBA brings deep expertise in asset protection and wealth management, shaped by decades of experience advising physicians and co-authoring leading financial resources for the profession. His articles have appeared in many national publications, reflecting his standing as a thought leader in physician wealth strategy. As a recognized speaker and host of his own podcast, he regularly shares actionable guidance with audiences across the medical community, and his work with Earned Institute offers insight focused on helping doctors build, protect, and preserve long-term wealth.

Watch or listen in as host David Mandell welcomes Dr. Eric Hansen, an independent physician, clinical professor and physician advocate who has spent more than two decades building his own practice while working to strengthen the environment for independent doctors. Eric begins by sharing the personal story that inspired him to pursue medicine. Growing up on a ranch near Temecula, California, he expected to work in his family's construction business until the loss of a close childhood friend changed his direction and motivated him to prove to himself that medical school was possible. The conversation then turns to Eric's passion for independent practice. He explains why autonomy, entrepreneurship and control over his own schedule have been central to his career, and why he believes young physicians should continue to view independent or small-group practice as a viable option. David and Eric also discuss side opportunities for physicians, contract review, payer mix and the importance of making deliberate business decisions rather than simply accepting the status quo. Eric then explains how value-based care has changed the economics of Medicare patients in his practice. He describes his participation in an accountable care model, how better tracking and follow-up can improve patient outcomes, and how shared-savings programs can create an additional revenue stream for independent practices already doing the work of delivering strong preventive care. David and Eric also discuss medical office real estate, including Eric's decision to build and own his practice space, as well as his involvement in organized medicine and healthcare policy through the California Medical Association. The episode concludes with Eric offering practical advice for both younger and experienced physicians on overcoming fear, building long-term financial assets, teaching and mentoring, and staying engaged in the profession.   Key Insights: Background: Dr. Eric Hansen grew up on a 26-acre ranch near Temecula, California, in a family that worked in construction, and he worked in ceramic tile construction before medical school. Motivation for Medicine: A conversation with a close childhood friend, followed by that friend's death in a car accident, became a defining moment that pushed Eric to work harder academically and pursue medicine. Independent Practice Mindset: Eric says the desire to determine his own path and make his own decisions made independent practice a natural fit for him from the beginning of his career. Teaching the Business of Medicine: He believes medical students and residents often hear that independent practice is no longer realistic, so he makes a point of teaching trainees about practice ownership and the business side of medicine. Using a Medical Education Broadly: Eric encourages physicians to recognize that their training can create opportunities beyond seeing more patients, including teaching, consulting, locums work and other professional side pursuits. Schedule Control: One benefit Eric attributes to independent practice is the ability to design his own schedule and make operational choices that support both practice performance and personal flexibility. Contract and Payer Review: He stresses that independent physicians should regularly review contracts, reimbursement and payer mix rather than signing an agreement and leaving it untouched for years. Value-Based Care: Eric describes value-based care as an important opportunity for physicians who already provide strong preventive care and follow-up, particularly for Medicare patients. Shared Savings: Through an accountable care organization model, physicians can be financially rewarded when strong care coordination and outcomes help reduce overall healthcare costs. Medicare Economics: Eric explains that participation in value-based care changed the economics of Medicare in his own practice and made those patients significantly more valuable to the business than they had been under fee-for-service alone. Owning Practice Real Estate: After years of renting, Eric purchased commercial property, designed his own office building and used an SBA loan to create an asset that also serves as the home of his practice. Long-Term Wealth Building: He views practice real estate as both a way to control occupancy costs and a potential long-term asset that can become part of a physician's retirement nest egg. Physician Advocacy: Eric's involvement in organized medicine grew from a local medical society role into leadership with the California Medical Association, where he advocates for independent physicians and healthcare policy. Supporting Access to Care: He argues that independent physicians remain especially important in smaller and underserved communities where larger health systems may have less incentive to operate. Advice Across Career Stages: For younger physicians, Eric emphasizes overcoming fear, considering ownership and starting a defined benefit plan when appropriate. For experienced physicians, he encourages organized medicine, mentorship, teaching and value-based care as ways to stay engaged and work smarter. Key Takeaways Takeaway 1: Independent Practice Is Still a Viable Path A central theme of the conversation is Eric's belief that physicians should not dismiss independent practice simply because employment has become the more common or easier path. He sees autonomy as both a career benefit and a business advantage, provided physicians are willing to learn the financial and operational side of running a practice. That means reviewing payer contracts, understanding which patient populations are financially sustainable, building an effective staff and using the flexibility of ownership to make changes when the numbers or the physician's priorities change. "You are smart enough to run a small business. That is nothing compared to med school or residency." Takeaway 2: Value-Based Care Can Reward Work Physicians Are Already Doing Eric describes value-based care as one of the most important economic opportunities available to independent physicians who care for Medicare patients. In his experience, tracking preventive care, monitoring patient outcomes and responding quickly to events such as emergency-room visits can improve care while also creating access to shared-savings revenue. His larger point is that physicians who are already doing the work of coordinated, high-quality care should understand whether a value-based program can compensate them for that effort. For practices with significant Medicare populations, Eric believes this can materially change the economics of the practice. "You're doing the work already. You should be getting compensated for that." Takeaway 3: Build Assets and Purpose Beyond the Daily Clinical Grind Eric's career illustrates several ways physicians can build value outside of simply seeing more patients. He points to owning practice real estate, creating retirement assets such as a defined benefit plan, teaching medical students and residents, and participating in organized medicine as examples of how doctors can broaden both their financial and professional lives. For younger physicians, that may mean moving through the fear that comes with ownership or entrepreneurship. For experienced physicians, it may mean mentoring, advocacy or teaching as a way to remain connected to the profession while sharing the knowledge accumulated over a career. "Everything you want is on the other side of fear." Links: Eric Hansen Bio Aledade.com After-Tax Alpha: Quantifying the Value of Integrated Wealth and Tax Management for Doctors | Get Your Free Report Free Copy of Wealth Strategies for Today's Physician | Get Your Free Copy For more information, offers and more, please visit earned.com/wpmp.

Season 7 of Wealth Planning for the Modern Physician begins with host David Mandell joined by Bill Martin, CFA, Chief Wealth Officer at Earned Wealth and founder of the Earned Institute. Bill shares the career experiences that led him to Earned and explains why he was drawn to building an integrated wealth-management platform specifically for doctors. He and David also discuss the Earned Institute and its education-first mission of bringing together expertise across tax, investing, insurance, asset protection, retirement planning and other areas of a physician's financial life. The conversation then turns to Earned's new white paper, After-Tax Alpha: Quantifying the Value of Integrated Wealth and Tax Management for Doctors. Bill explains why taxes should be viewed as a year-round planning opportunity rather than simply an annual reporting exercise. He and David walk through six key drivers of after-tax wealth: year-round tax-loss harvesting and gain deferral; placing investments in the most appropriate account types; planning ahead of practice sales and other liquidity events; coordinating financial decisions before they are made; allowing tax savings to compound over time; and structuring 1099 and practice income more intentionally. Throughout the discussion, Bill and David emphasize that many doctors do not necessarily have an investment problem as much as a coordination problem. Tax, investment, retirement, insurance, estate and business decisions can each affect the others, and valuable opportunities may be lost when those decisions are made in isolation or too late in the year. The episode offers practical examples of how proactive planning can create meaningful long-term benefits for employed physicians, practice owners and doctors with side income or other entrepreneurial interests. Key Takeaways Tax planning can be most effective when it is treated as a year-round discipline and coordinated with investing, retirement planning and other major financial decisions. For doctors with multiple accounts, advisors or financial professionals, coordination across the entire financial picture can be just as important as the individual strategies being used. Planning well in advance of major events, including a practice sale, investment gain or new source of 1099 income, can create opportunities that may no longer be available once the transaction or tax year is nearly complete.   Key Insights Year-round tax-loss harvesting can capture opportunities that a traditional year-end review may miss, particularly during periods of sharp market volatility. A tax-loss "bank" may help offset future capital gains inside or outside an investment portfolio, making tax-loss harvesting relevant beyond the year in which the loss is realized. Asset location matters. Taxable, tax-deferred and tax-free accounts are treated differently, so the placement of investments across those accounts can affect long-term after-tax results. Managing several investment accounts or advisors without a coordinated strategy can lead to duplicated exposures, inefficient asset placement and an overall portfolio that is out of balance. Practice sales and other liquidity events should be planned for well before closing. Tax-loss harvesting, charitable strategies, estate planning and other tools may become more valuable when there is sufficient time to implement them. Financial decisions often cross disciplines. Investment, tax, retirement, insurance, estate and gifting strategies can work against one another when the professionals involved are not coordinating before decisions are made. The long-term impact of tax-efficient planning comes not only from the tax savings themselves, but also from allowing those retained dollars to remain invested and compound over time. Physicians with 1099 income or practice ownership may have access to additional planning opportunities, including retirement-plan design, business deductions and entity-structure considerations. Cash balance and other retirement-plan strategies can be especially significant for physicians with the right income, cash-flow and age profile, but they require advance planning and proper structure. The central theme of the episode is proactive coordination: tax strategy becomes more powerful when it is integrated into the doctor's broader financial plan instead of being addressed as a separate, once-a-year exercise.   Resources: Extra Disclosures (Related to this specific topic) | Please View Now After-Tax Alpha: Quantifying the Value of Integrated Wealth and Tax Management for Doctors | Get Your Free Report Earned Institute | View Now Free CPA Consultation | Schedule Today Free Copy of Wealth Strategies for Today's Physician | Get Your Free Copy For more information, offers and more, please visit earned.com/wpmp.

This summer, join host David Mandell as he revisits and highlights episodes from Season 5 of The Wealth Planning for the Modern Physician podcast, in our 2026 Summer Rewind Series. "I genuinely believe there is a lot of information to gain from all of our episodes deliver, but for the summer, I've handpicked a few that offer intriguing ideas and a unique perspective for physicians in 2025," says David. "I hope you enjoy this Season encore series. Have a great summer!" Episode 5.18 | Originally Released: May 14, 2025 In this episode of the Wealth Planning for the Modern Physician podcast, host David Mandell sits down with two highly respected medical leaders—Dr. Mark Figgie, Chief Emeritus of the Surgical Arthritis Service at the Hospital for Special Surgery (HSS), and Dr. Joel Press, Physiatrist-in-Chief at HSS—to explore their personal and professional journeys in medicine. Dr. Press shares how his diverse early experiences led him to physiatry, while Dr. Figgie recounts his balance between science, business, and a lifelong pursuit of education, including earning an MBA during his fellowship. The conversation shifts into a discussion of mentorship at the Hospital for Special Surgery, where both physicians have played key roles in developing a cross-disciplinary mentorship model to support younger doctors. Their focus extends beyond clinical guidance to include career development, personal financial planning, and wellness—areas often overlooked in traditional medical training. This approach fosters institutional collaboration and a stronger culture at HSS. Finally, the episode dives into physicians' relationships with industry. Dr. Figgie offers candid advice on contracts, intellectual property rights, and ethical considerations when working with device manufacturers. He emphasizes the importance of legal review and staying true to what benefits patients. Dr. Press adds insight into personal financial trust, suggesting that doctors build a "board of directors" for trusted guidance. The episode closes with a preview of future initiatives aimed at supporting physicians earlier in their careers through financial education and mentorship. Learn more by visiting the original episode page. Learn more, including additional show notes, links, and detailed key takeaways, by visiting visiting the original episode page. Check out other episodes from our 6 seasons by visiting, physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

This summer, join host David Mandell as he revisits and highlights episodes from Season 5 of The Wealth Planning for the Modern Physician podcast, in our 2026 Summer Rewind Series. "I genuinely believe there is a lot of information to gain from all of our episodes deliver, but for the summer, I've handpicked a few that offer intriguing ideas and a unique perspective for physicians in 2025," says David. "I hope you enjoy this Season encore series. Have a great summer!" Episode 5.13 | Originally Released: March 5, 2025 Host David Mandell speaks with orthopedic surgeon and retired Army Colonel Dr. Pat St. Pierre. Pat shares how his path took him from West Point and infantry service to military medicine, orthopedic surgery and a long-running sports medicine practice in Palm Desert, California. Along the way, he offers practical advice for younger physicians about mentorship, employment contracts, family considerations and the financial realities of private practice. The conversation also explores Pat's work with medical-device companies, including his role in developing robotic technology for shoulder replacement surgery. He explains why thoughtful collaboration between physicians and industry is essential to advancing patient care. Finally, Pat discusses the importance of retiring to something rather than simply retiring from medicine. He shares how a longtime passion for wine became a challenging and rewarding second chapter, and why physicians should begin planning early for a meaningful life beyond clinical practice. Learn more by visiting the original episode page. Learn more, including additional show notes, links, and detailed key takeaways, by visiting visiting the original episode page. Check out other episodes from our 6 seasons by visiting, physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

This summer, join host David Mandell as he revisits and highlights episodes from Season 5 of The Wealth Planning for the Modern Physician podcast, in our 2026 Summer Rewind Series. "I genuinely believe there is a lot of information to gain from all of our episodes deliver, but for the summer, I've handpicked a few that offer intriguing ideas and a unique perspective for physicians in 2025," says David. "I hope you enjoy this Season encore series. Have a great summer!" Episode 5.8 | Originally Released: December 25, 2024 Host David Mandell continues his conversation with dentist and coach Dr. Sue Keller. Picking up where they left off at the end of Part I, David and Sue discuss the ongoing financial challenges of her specialty dental practice. Here, they tackle Sue's difficult decision to file bankruptcy for the practice after more than 20 years—and the legal, practical and emotional processes involved. The discussion then turns to Sue's transition after closing her practice—from working part-time for another dentist, serving patients as part of a non-profit and her eventual interest in, and transition to, coaching. David and Sue conclude the conversation chatting about Sue's role as a coach and how physicians and dentists could benefit from this type of advisor. Key Takeaways from this Episode: Bankruptcy does not necessarily mean failure, but it can be a step toward a more balanced life Regular evaluation of business and life balance is vital The importance of community and support in times of crisis     Learn more, including additional show notes, links, and detailed key takeaways, by visiting visiting the original episode page. Check out other episodes from our 6 seasons by visiting, physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

This summer, join host David Mandell as he revisits and highlights episodes from Season 5 of the Wealth Planning for the Modern Physician podcast, in our 2026 Summer Rewind Series. "I genuinely believe there is a lot of information to gain from all of our episodes deliver, but for the summer, I've handpicked a few that offer intriguing ideas and a unique perspective for physicians in 2025," says David. "I hope you enjoy this Season encore series. Have a great summer!" Episode 5.7 | Originally Released: December 11, 2026 Listen in or watch as host David Mandell interviews dentist and coach Dr. Sue Keller. David begins with questions he asks all doctor guests to the program—about their initial interest in becoming a doctor, early career journey and more. Sue relates her personal experiences that lead her to dentistry and a shift from an interest in orthodontics to general dentistry. Sue explains her initial venture into private practice, purchasing an existing practice from a burned-out dentist, and her initial attempts to grow the practice. She and David discuss her challenges in growing the practice, the positives and negatives to developing a niche practice, to moving the physical location and the difficulties of keeping good staff. For the remainder of this first part of a two-part episode, Sue tells David about the challenges of keeping the practice afloat financially. In part two, they discuss Sue's decision to file bankruptcy for the practice after more than 20 years and her career transition thereafter. Key Insights: Sue shares her personal journey, mentioning her early interest in dentistry after having her first loose tooth at six years old. Sue had a positive childhood experience with her dentist, which fueled her desire to make dentistry comfortable for others. She discusses the transition in her career, starting her practice after a residency and eventually purchasing an existing practice from a burned-out dentist. In 1995, Sue took over a family practice and started building it up, noting challenges with old technology and financial constraints. She explains that her practice focused on treating anxious adult patients with oral sedation, creating a niche in an underserved area. She moved her practice in 2007, creating a comfortable environment in Northampton but encountered financial challenges in 2008 due to the financial crisis, including losing two-thirds of her patients after the move and facing difficulties hiring motivated staff, leading to constant turnover. Sue reflects on the decision to go fee-for-service and the financial pressures of taking insurance while striving to maintain high-quality care. Despite her advanced education, she struggled to implement complex treatments due to a lack of patients who could afford the care. Sue emphasizes the importance of utilizing specialists, even for bread-and-butter dentistry, to maintain quality and avoid complications. She outlines the ongoing financial struggles from 2008 to 2017, refinancing multiple times to stay afloat amid a tough market.   Learn more, including additional show notes, links, and detailed key takeaways, by visiting visiting the original episode page. Check out other episodes from our 6 seasons by visiting, physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

This summer, join host David Mandell as he revisits and highlights episodes from Season 5 of The Wealth Planning for the Modern Physician podcast, in our 2026 Summer Rewind Series. "I genuinely believe there is a lot of information to gain from all of our episodes deliver, but for the summer, I've handpicked a few that offer intriguing ideas and a unique perspective for physicians in 2025," says David. "I hope you enjoy this Season encore series. Have a great summer!" Episode 5.6 | Originally Released: November 27, 2024 Listen in or watch as host David Mandell speaks with practice consultant Jessica Jones. David begins asking about Jessica's career and how she ended up working with medical and dental practices. Jessica then shares with David the pain points doctors typically have when they contact her—how they want to see their practices—and lives—improved. J essica then speaks to David about the importance of finding the doctor's passions and how to align the practice with those passions, along with patient needs—potentially with a cash-based revenue element outside of insurance reimbursement. She then digs into the details around service offerings, equipment purchases, the importance of delegation and other key success factors her experiences has discovered are valuable—in cash-based practices or traditional ones. Finally, Jessica stresses the importance of brainstorming and getting out of the daily grind to have perspective on what is working and what could be improved. Learn more by visiting the original episode page, here. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

In this Season 6 executive summary episode of the Wealth Planning for the Modern Physician Podcast, host David Mandell reflects on the major themes, conversations, and lessons shared throughout the season. David explains the structure of the podcast's academic calendar format and previews the upcoming Summer Rewind series, which revisits standout episodes from prior seasons. He then walks listeners through each episode of the season, highlighting important insights and lessons from all 20 episodes. By summarizing each episode from the season, this episode serves as both a roadmap for listeners looking to revisit episodes they may have missed and a reminder of the practical strategies, red flags, and opportunities physicians should consider as they navigate modern medical careers. Insights Covered in Season 6: Private practice compensation models are evolving to better align with the priorities of younger physicians entering medicine.  Entrepreneurship in healthcare can create significant opportunities, but it also introduces operational, financial, and emotional risks. Asset protection planning requires ongoing maintenance and discipline rather than a one-time legal setup. Artificial intelligence is already improving workflow efficiency and reducing administrative burden in clinical practice. Physician burnout often requires both operational changes and personal reinvention strategies to address effectively. Healthcare mergers, acquisitions, and private equity activity continue to reshape the physician practice landscape. Financial literacy and business education can dramatically improve a physician's ability to make informed career decisions. Peer review processes and workplace conflicts can have major professional and financial consequences if handled improperly. Real estate investments can be beneficial for physicians, but leverage and market timing carry meaningful risks. Strong mentorship, networking, and community support remain essential throughout every stage of a physician's career. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

Dr. Kirk Campbell shares his journey from aspiring physician to orthopedic surgeon and academic leader, highlighting how early experiences shaped his passion for medicine. He reflects on the rigorous training physicians undergo and the significant gap in financial education during that time. Despite entering high-income roles, many physicians lack the knowledge to manage their finances effectively, often facing high debt and limited exposure to wealth-building strategies beyond traditional investments. The conversation explores how the shift from private practice to employed physician models has reduced access to traditional wealth-building opportunities, such as ownership in practices and ancillary revenue streams. Dr. Campbell explains how he discovered real estate syndications as a way to recreate these benefits, generating passive income and leveraging tax advantages. Through disciplined self-education and experience, he developed a strategy that aligns with physicians' analytical skill sets, emphasizing due diligence and risk assessment. Dr. Campbell also provides practical insights for physicians interested in alternative investments, including how to evaluate deals, identify red flags, and build relationships with trusted sponsors. He stresses the importance of financial education, diversification, and creating income streams that are not tied to clinical work. Ultimately, the episode underscores the need for physicians to take an active role in their financial lives to gain flexibility, reduce risk, and build long-term wealth. 3 Key Takeaways Physicians often lack financial education despite earning high incomes. Real estate and alternative investments can help recreate lost private practice benefits. Education and due diligence are critical before entering private investment opportunities. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

Episode 6.19 features franchise consultant Matt Stevens, who joins David Mandell to unpack the fundamentals of franchising and why it can be an attractive wealth-building strategy for physicians. Stevens explains that franchising is less about buying a brand and more about gaining access to a proven system, support structure, and community. With thousands of franchise opportunities across dozens of industries, physicians have a wide range of options, many of which can be tailored to their time constraints and financial goals. A core theme of the conversation is the concept of 'buying down the learning curve.' Instead of spending years making costly mistakes building a business from scratch, franchisees leverage established playbooks, training systems, and peer networks. This is particularly appealing to busy professionals like physicians who may lack the time to build and test systems independently. The discussion also highlights how franchise ownership can be structured around passive or semi-passive involvement, often through hiring operators or partnering with family members. The episode also explores due diligence, risk factors, and long-term exit strategies. Stevens emphasizes the importance of reviewing the Franchise Disclosure Document (FDD), especially Item 20, and speaking with existing franchisees to validate the opportunity. Success ultimately comes down to engagement—following the system, leveraging support, and committing to the model. With the right approach, franchising can provide not only income but also scalable growth and a meaningful exit, making it a compelling addition to a physician's overall wealth strategy. Franchising accelerates business success by providing a proven system and reducing the learning curve. Physicians can participate in franchising even with limited time through structured, semi-passive ownership models. Thorough due diligence—especially speaking with existing franchisees—is critical to identifying the right opportunity. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

Dr. Steven Siepser shares a compelling journey from his early fascination with medicine to becoming a highly skilled ophthalmologist and entrepreneur. His career path was shaped by curiosity, adaptability, and a willingness to pursue opportunity, from studying abroad to pivoting specialties into ophthalmology. He ultimately built a thriving solo practice by leveraging early expertise in emerging technologies like intraocular lenses and LASIK, positioning himself ahead of many peers.   The conversation highlights both the rewards and risks of entrepreneurship in medicine, particularly through Dr. Siepser's experience with practice ownership and commercial real estate. While his clinical success led to expansion and investment in a large medical facility, external factors such as 9/11, economic downturns, and rising interest rates significantly impacted his financial outcomes. His story serves as a cautionary tale about leverage, market timing, and the unpredictability of macroeconomic forces.   Dr. Siepser's latest venture, VisionLock (now SightAssure), represents an innovative approach to patient confidence and physician differentiation through outcome-based insurance. By identifying top-tier surgeons and insuring their results, the model enhances trust while creating a premium positioning for providers. Although initial scaling challenges and undercapitalization slowed progress, he is relaunching the concept with a more robust financial and structural strategy, emphasizing the importance of execution, funding, and timing in entrepreneurial success. 3 Key Takeaways Clinical excellence can create entrepreneurial opportunity, but business success requires different skills and risk management.   Real estate investments in medical practices carry risk, especially when tied to economic cycles and interest rate changes.   Innovative business models—like outcome insurance—can differentiate physicians and improve patient trust but require strong capitalization and scalability planning. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

Episode 6.17 features Todd Jason, a reinvention coach and podcast host, who joins David Mandell to explore physician burnout, career transitions, and the evolving nature of work. Drawing on his experience working with organizations like Kaiser Permanente, Todd highlights the growing prevalence of burnout among physicians, driven by overwhelming workloads, administrative burdens, and lack of support systems. He emphasizes that burnout is not a personal failure but a systemic issue affecting many professionals, particularly those in high-stakes, service-oriented careers like medicine. Todd shares practical strategies to manage burnout, focusing on small, intentional actions that can be integrated into daily routines. These include taking mindful breaks, spending time outdoors, journaling, and using tools like AI to reduce cognitive load. He also stresses the importance of setting boundaries outside of work and delegating tasks where possible to reduce overwhelm. By reframing how physicians approach their workday and personal time, Todd suggests that even incremental changes can significantly improve mental and emotional well-being. The conversation then shifts to the concept of reinvention—particularly for mid-career professionals. Todd defines reinvention as a proactive, mindset-driven approach to aligning one's career with personal fulfillment, rather than simply reacting to burnout or external changes. Through exercises like writing one's own eulogy, he encourages individuals to reflect on what truly matters and explore new opportunities, income streams, and career paths. Ultimately, the episode underscores the importance of adaptability, self-awareness, and intentional decision-making in navigating both burnout and long-term career satisfaction. Key Takeaways: Burnout is systemic, not personal: Physicians are facing increasing complexity and workload, making burnout a widespread and legitimate challenge.   Small, intentional habits matter: Simple daily practices (breaks, movement, journaling, AI tools) can significantly reduce stress over time.   Reinvention is a mindset shift: Mid-career professionals should proactively explore what fulfillment looks like and align their work accordingly.   Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

In Part Two of this two-part conversation, Stephanie Pearson shares how personal hardship ultimately led her to build a mission-driven business dedicated to protecting physicians. What began as a deeply personal recovery journey evolved into an education-first approach to disability and life insurance. Rather than setting out with a business plan, Stephanie initially focused on helping other physicians avoid the mistakes and gaps that impacted her own experience. Through organic growth, word-of-mouth referrals, and a partnership that developed naturally, she built a firm centered on advocacy, transparency, and informed decision-making. Stephanie discusses the challenges of transitioning from surgeon to entrepreneur, including the discomfort many physicians feel around sales. She reframes the role not as selling a product, but as educating clients about complex insurance contracts and advocating for their best interests. The conversation explores the critical differences between group and private disability policies, the nuances of policy language, and why specialty-specific definitions of disability are essential for physicians. Her philosophy emphasizes managing expectations, pre-underwriting, and eliminating surprises—treating insurance planning with the same rigor as informed consent in medicine. Beyond insurance mechanics, Stephanie reflects on broader themes relevant to physicians: burnout, identity shifts, entrepreneurship, and the importance of mentorship and community. She encourages physicians considering business ventures to seek mentors, surround themselves with experts, and remain authentic to their mission. For those facing burnout, she stresses the importance of therapy, boundaries, hobbies, and building a support system. Ultimately, her story illustrates how adversity can be transformed into purpose—creating both financial protection for others and personal fulfillment. 3 Key Takeaways Education Over Sales: Disability and life insurance planning for physicians should center on education, transparency, and advocacy—not product pushing. Definitions Matter: The specific language in disability policies (especially specialty-specific definitions) can significantly impact outcomes in the event of a claim. Burnout Requires Intention: Transitioning careers or starting a business is not automatically a cure for burnout; personal work, boundaries, and mentorship are critical.     Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

In Part One of this two-part conversation, Dr. Stephanie Pearson shares her powerful journey from practicing OB/GYN to becoming a nationally-recognized advocate for physician disability insurance and financial protection. Nearly ten years into practice, a traumatic shoulder injury sustained during an emergency delivery permanently ended her ability to operate and perform obstetrics.. What initially felt like a temporary setback quickly became a life-altering pivot point—complicated further by contract language, disability policy limitations, and systemic barriers that left her financially and emotionally vulnerable. Stephanie details the harsh realities she encountered after her injury, including being terminated when her FMLA expired, denied disability coverage due to policy fine print, and fighting a lengthy workers' compensation battle. She candidly discusses the mental toll of the experience, including a period of severe emotional distress, and emphasizes how little physicians are taught about contracts, disability insurance, and financial risk management. Her story underscores the importance of reviewing employment agreements and understanding both employer-sponsored and private disability coverage. Out of this adversity, Stephanie co-founded PearsonRavitz, an insurance brokerage dedicated to helping physicians secure appropriate disability and life insurance protection. Now part of the broader Earned Wealth platform alongside OJM Group, she is committed to improving financial literacy among physicians. This episode sets the stage for Part Two by highlighting not only the risks physicians face but also the importance of proactive planning, proper policy design, and advocating for oneself long before a crisis occurs. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!