The Grow Your Wealthy Mindset Podcast

Replay Episode 1: Grow Your Wealthy Mindset 03.06.2026 17m

The Grow Your Wealthy Mindset Podcast published an original weekly episode for the last four years. For the first episode of the 5th year of The Grow Your Wealthy Mindset Podcast, we return back to the very first episode, where Elisa Chiang talks about her journey that lead her to creating this podcast and why someone would want to take the time to listen to The Grow Your Weathy Mindset Podcast. Enjoy this blast from the past. Please subscribe and leave a review on your favorite P...

Episode 209: When to Start Taking Social Security Benefits 28.05.2026 12m

This episode dive into the complex world of Social Security through the lens of a high-earning professional. We move past the "standard" advice of waiting until age 70 to explore the Real Math, including the impact of current 2.7% TIPS real yields and the looming 2032 Trust Fund cliff. If you are in deciding on a claim strategy, this episode provides a framework for political risk management and tax-efficient retirement. SSA.gov: Log onto or create your "My Social Security" account to vi...

Episode 208: Why "Good Enough" Investing Beats a "Perfect" Strategy Every Time 20.05.2026 10m

In the medical world, perfectionism saves lives. In the financial world, it can cost you a fortune. In this episode, we dive into the "A+ Student Syndrome" and why the traits that make you a world-class physician—attention to detail, risk aversion, and a desire for complexity—are the exact traits that lead to "Analysis Paralysis" in your portfolio. This episode breaks down why searching for the "perfect" entry point or the "perfect" fund is often just a high-level form of procrastination. Lea...

Episode 207: The W-2 Physician’s Tax Reality 13.05.2026 10m

In this episode, we pull back the curtain on the U.S. tax system to explore how it specifically impacts high-earning professionals. Inspired by a recent Freakonomics episode and the research of Jessica Riedl (Brookings Institute), we dive into the data-driven reality of tax progressivity, the "Buffett Myth," and why being in the Top 5% of earners changes the way you should approach your retirement strategy. Whether you're a W-2 employee or looking to transition into asset ownership, this epis...

Episode 206: Inside Medscape's Physician Compensation Report 2026 06.05.2026 15m

This week's episode reviews the findings published in Medscape's Physician Compensation Report for 2026. Key Points The Numbers: The average physician salary rose to $356K (+3%), with Specialists ($417K) continuing to outearn PCPs ($298K).Top Earners: Orthopedics leads the field at $611K, followed by Cardiology ($575K) and Radiology ($571K); Pediatrics remains at the bottom ($266K).The Negotiation Freeze: 27% of physicians reported negotiation wasn't an option, as some consultants now a...

Episode 205: The Annual Financial Deep Clean: A 5-Point Financial Audit 29.04.2026 10m

Just as an annual physical catches "silent killers" like hypertension, a financial deep clean identifies "Efficiency Leaks" before they cost you hundreds of thousands in lost growth. This episode provides a 5-point audit to ensure your money and mindset are perfectly aligned while you focus on your practice. The 5-Point Financial Audit: 1. Financial Goals Review: Move beyond vague ideas. Are your goals SMART (Specific, Measurable, Achievable, Relevant, and Time-bound)? Don’t forget to celebra...

Episode 204: Don’t Overthink This: How to Choose Your Brokerage Account 22.04.2026 10m

If you’ve ever asked yourself, “Where should I open a brokerage account?”you’re not alone. This is a common question I see in personal finance groups, and it can feel overwhelming when you’re trying to make the “right” choice. In this episode, I break down how to choose a brokerage account for investing outside of retirement accounts, or where to open an IRA, without overcomplicating the decision. We’ll walk through the key differences between Vanguard, Fidelity, and Charles Schwab, including...

Episode 203: Charitable Giving Tax Changes in 2026 Explained 15.04.2026 11m

Starting in 2026, new rules will change how charitable tax deductions work. In this episode, we break down key provisions from the One Big Beautiful Bill Act and what they mean for your charitable giving strategy. You’ll learn how the new $1,000 deduction for standard deduction filers ($2,000 for married couples) works, why itemized charitable deductions now have a 0.5% AGI floor, and how a new cap on itemized deductions may affect high-income taxpayers. We also discuss strategies like bunchi...

Episode 202: Will Your Retirement Go As Planned? 08.04.2026 13m

This podcast episode discusses a blog article from the White Coat Investor website written by Dr. Jim Dali, titled "Will Your Retirement Go As Planned.” The article highlighted unexpected challenges faced by retirees, such as early retirement due to job loss, health issues, and the death of a spouse. Elisa shared insights from the article, emphasizing the importance of considering life expectancy and health risks in retirement planning. The article referenced in the podcast can be found...

Episode 201: Taking Money Out of Retirement Accounts Early Without the 10% Penalty 01.04.2026 17m

Can you take money out of a retirement account early without paying penalties? Many people assume retirement accounts are locked until age 59½, which leads them to avoid maxing out contributions—especially if they’re planning early retirement. In this episode, we explain when early withdrawals from retirement accounts don’t trigger the 10% penalty, including common IRS exceptions and strategies like Substantially Equal Periodic Payments (72(t)). You’ll learn the key differences between IRAs a...

Episode 200: Being Rich vs. Being Wealthy 25.03.2026 12m

In this milestone 200th episode of The Grow Your Wealthy Mindset Podcast, we explore the difference between being rich and being wealthy and why the distinction matters more than most people realize. While being rich is often visible through income and lifestyle, true wealth is usually invisible. Drawing from real-life examples and insights from The Psychology of Money by Morgan Housel, this episode breaks down how spending can create the appearance of success while quietly increasing financi...

Episode 199: Common Backdoor Roth IRA Mistakes and How to Avoid Them 18.03.2026 16m

High-income professionals often find themselves locked out of direct Roth IRA contributions. The "Backdoor Roth" is the gold-standard workaround, but it is a strategy where small administrative errors can lead to big tax bills. In this episode, we break down the mechanics of the Pro-Rata Rule, why your Form 8606 is the most important document in your tax return, and the specific steps physicians must take to keep their backdoor strategy "clean." Key Takeaways Pre-Tax vs. Post-Tax: Unde...

Episode 198: Trump Accounts Explained: What Parents Need to Know 11.03.2026 13m

If you have children, you may have seen a prompt in TurboTax or other tax software about opening a Trump Account. But what exactly is a Trump Account, and is it right for your family? In this episode, we break down everything you need to know: Who is eligible and how to open a Trump AccountContribution limits, employer contributions, and federal seed moneyHow the accounts are invested and what restrictions applyImpact on financial aid and long-term planningReal-world examples and growth...

Episode 197: Your Money or Your Life: A Physician’s Life Energy 04.03.2026 12m

What if money isn’t just money—but stored life energy? In this episode, I reflect on the core premise of Your Money or Your Life by Joseph R. Dominguez and Vicki Robin and how it’s showing up in my own life as a physician. From reviewing Medicare reimbursement rates to comparing insurance-based care with cash-pay work, I share why the trade between effort, responsibility, and compensation is starting to feel misaligned. We explore what financial independence really means, how much money is tr...

Episode 196: Planning for Long-Term Care: Insurance vs Self-Insuring 25.02.2026 15m

Long-term care is one of the biggest unknowns in retirement planning. While many physicians can estimate their retirement spending, it’s much harder to predict if, and for how long, long-term care will be needed. In this episode, Elisa breaks down the real costs of long-term care, how long most people actually need care, and whether long-term care insurance makes sense for physicians. Learn about: What counts as long-term care and typical costsHow long people usually need long-term careThe di...

Episode 195: How Much Do Physicians Need for Retirement? 18.02.2026 14m

How much do physicians actually need to retire comfortably? If you’ve heard numbers like $4 million—or more—and felt overwhelmed, you’re not alone. In this episode, we break down where these retirement numbers come from, why physicians tend to think they need significantly more than the average American, and how to calculate a retirement target that actually fits your life. Using data from Medscape, Northwestern Mutual, and the U.S. Census Bureau, we explore income differences, spending expec...

Episode 194: Why High-Income Doctors Still Feel Broke 11.02.2026 13m

Why do physicians earning multiple six figures still feel financial pressure? In this episode, we talk about why a high income doesn’t automatically lead to financial ease—and why many doctors feel stressed about money despite “doing everything right.” This isn’t about budgeting harder or cutting out every joy. It’s about understanding the real reasons behind that stuck, anxious feeling. In this episode, we cover: What it really means for high-income doctors to “feel broke”Lifestyle creep vs ...

Episode 193: Vesting: What You Actually Get to Keep in Your Employer Retirement Plan 04.02.2026 9m

Most physicians assume that every dollar in their employer-sponsored retirement account belongs to them. That assumption can be a very expensive mistake. In this episode of The Grow Your Wealthy Mindset Podcast, we break down vesting—what it means, how it’s governed by federal law, and why it matters when physicians change jobs or negotiate contracts. I also share a personal early-career mistake that cost me my employer contributions, and how understanding vesting later helped me make a...

Episode 192: Solo 401k vs SEP IRA - Which Is the Better Choice? 28.01.2026 22m

If you’re a physician with 1099 income, locums work, or a small private practice, choosing between a Solo 401(k) and a SEP IRA can have a huge impact on how much you’re able to save for retirement. In this episode, we compare Solo 401(k)s and SEP IRAs in plain language and walk through real physician examples to show how contribution limits change based on income type, age, and whether a spouse works in the business. In this episode, you’ll learn: The key differences between a Solo 401(k) and...

Episode 191: W-2 vs 1099 for Physicians: Pros, Cons, and the Money Impact 21.01.2026 16m

In this episode of The Grow Your Wealthy Mindset, we take a practical look at the differences between working as a 1099 independent contractor and a W-2 employed physician — and how each option affects your income, taxes, autonomy, and long-term wealth. Whether you're thinking about locums, considering a new job offer, or re-evaluating your career path, this episode gives you a clear framework to make a confident, informed decision. What You'll Learn • Why more physicians are now emplo...