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Mastering Physician Finances with Dr. Elisa Jung | Medicine Money Podcast

In this episode of the Medicine Money Podcast, host Dr. Joseph Ryan Smolarz welcomes Dr. Elisa Jung, an oculoplastic surgeon and life coach from Cleveland, Ohio. They dive deep into financial habits, investing journeys, and the mindset shifts necessary for physicians to achieve financial independence. Dr. Jung shares her self-taught financial wisdom, emphasizing the importance of educating oneself, living within means, and taking control of financial decisions to combat physician burnout and gain true freedom. They discuss leveraging debt wisely, understanding various levels of financial independence, and the significant impact of financial freedom on reducing dependency on external systems. Join the conversation to gain invaluable insights and practical advice on becoming a financially sound and independent physician.

00:00 Introduction and Special Guest Announcement
01:20 Dr. Elisa Jung's Financial Journey
02:14 Learning About Personal Finance and Investing
04:44 Advice for Medical Students and Residents
06:56 Understanding Physician Burnout
09:12 Financial Advisors and Physician Finances
12:01 The Importance of Financial Freedom
22:16 The Arrival Fallacy and Financial Goals
30:36 Debt Management and Leveraging Assets
35:43 Tax-Advantaged Accounts and Final Thoughts

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Solving Hyper Dependency in Medical Practices with Mark Leary - Visionary Leadership and EOS

In this episode, we dive into business growth and leadership with Mark Leary, an expert EOS implementer and the host of the Practice Freedom Podcast. Mark shares his journey from running a frustrating business to becoming a successful coach who helps business owners achieve vision, traction, and a healthy culture. The discussion focuses on reducing hyper dependency in medical practices, allowing physicians to regain their time and create a self-sustaining practice. Key topics include defining roles within a business, implementing a business operating system like EOS, and shifting from a scarcity mindset to one of abundance. This episode is packed with actionable insights for physicians looking to transform their practice.

00:00 Building Value in Medical Practices: Insights from Mark Leary
00:31 Introduction to Business Growth and Leadership
01:51 Mark Leary's Journey to Success
05:07 Implementing EOS in Healthcare
08:08 Addressing Hyper Dependency in Practices
15:46 Leadership and Delegation in Medical Practices
20:56 Visionary vs. Integrator Roles
26:10 Client Dependency and Role Modeling in Healthcare
27:11 Journey of Delegation and Culture Building
28:30 Leadership and Accountability in Practice
33:19 Understanding EOS: Vision, Traction, and Health
36:31 Mindset Shifts for Successful Practice Management
41:24 Measuring Progress: The Gap and the Gain
43:57 Final Thoughts and Call to Action

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From ER Doctor to Entrepreneur: Dr. Harris' Journey into Investing

In this engaging episode, Ryan and Dr. Jason Harris reflect on their 26-year friendship and discuss their pivotal transformation in 2016 from traditional physicians to passionate entrepreneurs and investors. Dr. Harris delves into the challenges and rewards of starting his own assisted living facility and other ventures. He offers advice for new physicians considering entrepreneurship, emphasizing the importance of passion, mentorship, and continuous learning. The conversation also explores financial sovereignty, the significance of financial planning, the power of having a supportive community, and the impact of making calculated, research-backed decisions in investments. Tune in for invaluable insights from two seasoned professionals on navigating the dynamic worlds of medicine, business, and investment.

00:00 Welcome and Introduction
00:49 Reflecting on the Journey: 2016 and Beyond
02:27 The Challenges and Rewards of Entrepreneurship
03:21 Advice for Aspiring Entrepreneurs
07:50 The Importance of Passion and Resilience
10:07 Steps to Becoming a Savvy Investor
13:15 The Role of Mentorship and Continuous Learning
22:49 Financial Sovereignty and Personal Goals
24:18 Future Plans and Final Thoughts