A Clean Bill of Wealth with Galen Nuttall
Business:Investing
This episode is different.
It's only my second solo episode, with many more to come. It's a topic close to my heart: helping people who are confused about their finances.
Have you ever felt like everyone else has it all figured out when it comes to money?
Do you feel like there must be something wrong with you if you haven't been able to make sense of your options?
Do you struggle to find the time to compare all the different accounts and products available and don't have a clear path forward?
Well... then this episode is for you.
In this episode, I pull back the curtain about financial planning for physicians, tackling the misconception that everyone else has their financial life all figured out.
As part of this, I share the results of a survey of Canadian Physicians.
Guess what percent agreed with the statement "I'm not confident I'm using my corporation to the fullest"
And when it comes to finances, guess what percent agreed with the statements:
Spoiler alert, over 50% agreed with those last two statements
I get why that is.
Physicians have limited, if any, formal training around financial literacy and likely struggle to find time to try to figure it all out.
Even when someone does take the time to figure it all out through research, there's plenty of differing opinions. Sometimes people say the opposite thing about the same concept.
There is more information available than ever, then why are so many people still confused?
Because more information might not make a difference.
One of my favourite concepts from my teaching days is "Bloom's Taxonomy" where the lower levels of comprehension are information based and the higher levels tackle implementation.
Before I became an advisor I was definitely stuck in an information gathering loop when it came to my finances, where I always felt like I needed to know more before I could take action.
If that sounds like you, it could make sense to work with a Financial Planner.
Even if working with a planner doesn't work for you, I believe it's crucial to decide when enough information is enough and when it's time to take action.
Give this episode a listen. My goal is if you are feeling like the only person who is confused about finances, that you no longer feel so alone.
If you've got a lot of unanswered questions about your finances, like if you're making the most of your corporation, if you're putting enough away in the right places to retire, and more, you might be a good fit for a fee-based plan.
Book a free discovery call where I'll help you figure out if a fee-based plan could help you. Click here to book your call.
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Financial Literacy for Physicians and How to Eliminate Pension Envy with Dr. Vu Kiet Tran
Practice Transformation via Coaching and Peer Support with Dr. Wing Lim
Empowering Physicians Around Their Finances With Dr. Kevin Mailo
Physician Empowerment and Real Estate Investing with Kevin Mailo, MD
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