In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss how financial burdens impact medical professionals' personal lives, academic performance, and career decisions. They explore various studies that demonstrate these effects, covering topics such as increased stress levels, delayed life decisions like marriage and children, negative impacts on academic performance, and challenges faced when managing student loan debt. Additionally, they delve into the ethical concerns related to financial incentives in medical practice. The episode also emphasizes the importance of financial literacy for medical residents and offers practical solutions for incorporating financial education into residency programs, drawing on Justin's experience in delivering such talks.

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In this episode of Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the importance of understanding non-compete clauses in physician contracts and strategies for negotiating favorable terms. They answer listener questions covering investment options outside of traditional index funds, including local investments, real estate, and lending to peers. The conversation also touches upon the allocation of inherited funds to maximize growth and tax efficiency while honoring the legacy of the gift. Additionally, they emphasize the significance of liquidity and the benefits of having an emergency fund to handle irrational institutional decisions. The episode stresses empowering physicians to leverage their positional advantages effectively.

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What if your emergency fund is actually too big? In this week’s episode, Dr. Jimmy Turner and Justin Harvey tackle that question — plus a few more from listeners in another grab-bag style show that blends practical advice with behavioral finance insights. Specifically they tackle:

When to Drop Life & Disability Insurance:
How to decide if you’re truly financially independent enough to cancel term life or long-term disability — and why many physicians pull the trigger too early.

Lease or Buy That New Car?:
With income jumps and lifestyle creep in mind, they unpack whether to lease a luxury SUV or buy something mid-range, how financing fits into a high-income household, and why automating your financial goals should come before upgrading your ride.

The “Too Big” Emergency Fund Debate:
How much cash should high earners keep on hand — and why disagreements over emergency funds often trace back to money stories and emotional experiences around security and scarcity.

From peace-of-mind trade-offs to spousal financial dynamics, this episode dives deep into the intersection of math, mindset, and marriage.

👉 Resources Mentioned:

Free Book: The Physician Philosopher’s Guide to Personal Finance — moneymeetsmedicine.com/freebook

Disability Quotes: moneymeetsmedicine.com/disability

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