Bonnie Koo

229: Maximize Your Income: Tax Strategies Every Physician Must Know with Doc Wealth

229: Maximize Your Income: Tax Strategies Every Physician Must Know with Doc Wealth

Wealthy Mom MD with Bonnie Koo | Maximize Your Income: Tax Strategies Every Physician Must Know with Doc WealthAre you a physician looking to keep more of your hard-earned money? Do you feel like you're paying too much in taxes and not sure what to do about it? If so, this episode is for you.

In this episode, I talk with Dr. Mark Applegate and Laxman Pichappan, the founders of Doc Wealth, a tax strategy and CPA firm tailored specifically for physicians. As a physician, you have unique challenges and opportunities when it comes to taxes, whether you're a W-2 employee or a business owner.

Mark and Laxman share their expertise on how physicians can reduce their tax burden using a variety of strategies. They discuss the difference between a CPA and a tax strategist, and why it's so important to work with professionals who understand the specific needs of physicians. If you're ready to take control of your taxes and keep more money in your pocket, you won't want to miss this valuable episode.

We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

Ready to transform your life and finances? Join the Happy and Rich Club for Women Physicians — a 6-month, intimate program designed to help you thrive in both life and money. Click here to learn more, enroll, or schedule a quick call to see if it's the right fit for you!

What You'll Learn from this Episode:

  • Why most CPAs are not equipped to provide proactive tax strategy for physicians.
  • The key differences between being taxed as a W-2 employee versus a business owner.
  • How real estate investments, especially short-term rentals, can provide significant tax benefits.
  • The power of setting up the proper business entity, such as an S Corp, to reduce self-employment taxes.
  • Why defined benefit plans and cash balance plans can be a game changer for high-earning physicians.
  • How to take advantage of the Augusta rule to write off personal home expenses.
  • The importance of proper documentation when expensing business costs like vehicles and home offices.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

228: Pivoting with Purpose: Aligning Your Money and Life Goals

228: Pivoting with Purpose: Aligning Your Money and Life Goals

Wealthy Mom MD with Bonnie Koo | Pivoting with Purpose: Aligning Your Money and Life GoalsHave you already given up on your New Year's resolutions? Don't let another year go by without making meaningful changes in your life. As a physician, it's easy to get stuck in the same career path, neglecting other important areas of your life like family, relationships, and personal growth.

In this episode, I share some exciting changes happening in my business and how they reflect the importance of evolving and living life intentionally. I'm retiring my main money program and launching a new six-month mastermind called the Happy and Rich Club for Women Physicians, as well as a business program for female physicians starting their own ventures.

Join me as I discuss the six key areas of life that money fuels and how to align your financial goals with your life goals. It's time to give yourself permission to pivot, make changes, and design the wealthy life you truly desire.

We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

Ready to transform your life and finances? Join the Happy and Rich Club for Women Physicians — a 6-month, intimate program designed to help you thrive in both life and money. Click here to learn more, enroll, or schedule a quick call to see if it's the right fit for you!

What You'll Learn from this Episode:

  • Why it's normal and necessary to evolve in your career and life.
  • The importance of living life intentionally and not neglecting key areas.
  • How money is a tool to fuel six key areas of life: career, family, relationships, fun, vitality, and self.
  • Details about my new six-month mastermind, the Happy and Rich Club for Women Physicians.
  • Plans for a new business program for female physicians launching in the spring.

Don't forget to grab your Design 2025 & Beyond workbook I created just for you. You'll also get the deets to attend my upcoming live workshop Design Your Wealthy Life on Jan 15th or 18th, 2025.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

227: Massive Action: The Key to Achieving Your Hopes and Dreams in 2025

227: Massive Action: The Key to Achieving Your Hopes and Dreams in 2025

Wealthy Mom MD with Bonnie Koo | Massive Action: The Key to Achieving Your Hopes and Dreams in 2025Do you find yourself stuck in passive action mode, endlessly consuming information but never actually doing anything with it? You're not alone. As high-achieving, perfectionist women, we often fall into the trap of thinking we need to know everything before taking action. But here's the truth: all that passive action is really just a way to avoid failure.

In this episode, I'm diving deep into the difference between passive and massive action. I explain why we get stuck in passive mode and how it's actually a form of failure in itself. Plus, I share strategies for overcoming your fear of failure and taking the massive action required to achieve your goals.

If you're ready to stop letting perfectionism hold you back and start making real progress toward your hopes and dreams, this episode is a must-listen. I give you the mindset shifts and practical tools you need to get out of your own way and into action. Let's make 2025 the year you finally go after what you really want!

We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • Why passive action feels safe but is actually a form of failure.
  • How to radically change your relationship with failure.
  • The importance of having compassion for yourself when you fail.
  • How to shorten the time between failure and your next action.
  • Why courses and communities make it easier to take massive action.
  • How to track your progress and ensure you're taking enough massive action.
  • The key mindset shifts required to overcome perfectionism and fear of failure.

Don't forget to grab your Design 2025 & Beyond workbook I created just for you. You'll also get the deets to attend my upcoming live workshop Design Your Wealthy Life on Jan 15th or 18th, 2025.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

226: Rethinking Retirement: Are You Chasing the Wrong Goal?

226: Rethinking Retirement: Are You Chasing the Wrong Goal?

Wealthy Mom MD with Bonnie Koo | Rethinking Retirement: Are You Chasing the Wrong Goal?I still can’t believe it’s 2025. Time seems to fly, especially when raising kids. My child is about to turn eight, and I can’t help but wonder how it happened so fast. It got me thinking about the stories I hear from clients - how childhood feels short. Many parents say they want to spend more time with their kids but feel money is the obstacle. The truth is, money isn’t the goal; it’s a tool to build a life you won’t regret.

This brings me to a question I hear often: Am I on track for retirement? Should I hire a financial advisor? But that’s not where I’d start. Too many people focus on hitting a “magic number” or following financial rules. The reality is, if you focus only on building net worth, you might reach financial success only to wonder why you didn’t enjoy it sooner. Life isn’t linear, and neither is money. So what are we really working toward, and are we living the life we want?

Tune in this week as I walk you through a mindset shift - thinking of life in seasons and aligning your finances with what matters now. I’ll share practical steps to create a vision of what you want, whether that’s traveling, prioritizing family, or feeling in control of your choices. By the end of this episode, you’ll feel ready to plan for a life that’s rich in every sense.

We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • Why focusing on a “magic number” for retirement might be holding you back.
  • How to shift your mindset and think of life - and money - in seasons.
  • Ways to identify what truly matters to you and prioritize experiences now, not later.
  • How to create a vision for your life and align your finances to support it.
  • Why money is a tool, not the goal, and how to use it to build a life you love.

Don't forget to grab your Design 2025 & Beyond workbook I created just for you. You'll also get the deets to attend my upcoming live workshop Design Your Wealthy Life on Jan 15th or 18th, 2025.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

225: Change Your Mindset, Change Your Life

225: Change Your Mindset, Change Your Life

Wealthy Mom MD with Bonnie Koo | Change Your Mindset, Change Your LifeWhat if the way you see the world isn’t about the circumstances around you, but the lens you’re looking through? Two people can go through the same experience yet describe it completely differently - one sees endless challenges, the other sees possibilities. The secret lies in something we all have but rarely think about: mindset. It’s not just who you are; it’s how you view and live your life.

Most of us think our thoughts are facts, but they’re not. They’re stories we’ve been telling ourselves for years - stories that shape how we feel, what we do, and ultimately, the lives we create. The good news? Those stories aren’t permanent. Changing them takes practice, but it’s absolutely possible. Once you start, it’s like flipping a switch on how you experience everything around you.

This episode is about getting that power back - learning to notice the thoughts that aren’t serving you and choosing ones that do. You’ll walk away with a better understanding of how your mindset shapes your world and simple steps to start shifting it today.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • How your mindset shapes the way you experience life and why it’s not fixed.
  • The connection between your thoughts, emotions, and actions - and how to take control of them.
  • Why beliefs feel like facts and how to identify the ones holding you back.
  • How to start rewiring your brain for a more empowering perspective.
  • How to break free from autopilot thinking and create a mindset that supports your goals.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

224: From Medicine to Startups: Dr. Alison Curfman’s Leap Into Innovation

224: From Medicine to Startups: Dr. Alison Curfman’s Leap Into Innovation

Wealthy Mom MD with Bonnie Koo | From Medicine to Startups: Dr. Alison Curfman’s Leap Into InnovationWhen I first met Dr. Alison Curfman in 2016, we were part of a Facebook group connecting women physicians who wanted to think differently about their lives and careers. At the time, Alison was deep in pediatric emergency medicine, never imagining she’d step outside the traditional healthcare system. Fast forward to today, and Alison has taken a bold leap - building startups, shaping new models of care, and proving the impact doctors can have beyond clinical work.

Alison’s story is about recognizing problems in the system and deciding to solve them. From co-founding Imagine Pediatrics, a company built to improve care for children with chronic conditions, to working with developers on tech-driven solutions, she’s learned what it takes to bring ideas to life in ways most physicians haven’t imagined. But it hasn’t been a straight path. Alison shares the risks, mindset shifts, and moments of growth that come with stepping into unfamiliar territory, like uprooting her family for a once-in-a-lifetime opportunity and scaling a team from a handful to hundreds.

Tune in to this inspiring conversation to learn how Alison leveraged her skills to break into consulting, advising, and healthcare innovation. Whether you’re a physician exploring new opportunities, curious about how AI and tech are reshaping the industry, or eager to hear how one doctor turned a gap in the system into a thriving business, this episode is packed with insights. Alison also gives a sneak peek into her latest venture, Start Up Physicians, where she’s helping doctors define their value, break into the startup space, and reimagine what’s possible for their careers.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • How to transition from traditional clinical work to entrepreneurship and startups.
  • The mindset shifts doctors need to embrace new opportunities outside the hospital.
  • Why physicians are natural problem-solvers - and how to apply that skill to business and innovation.
  • The role of AI, technology, and value-based care in shaping the future of healthcare.
  • How to create and communicate your value when stepping into consulting or advising.
  • Practical first steps for doctors interested in startups, including coaching, LinkedIn, and building a network.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

223: Reflect, Reset, and Step into 2025

223: Reflect, Reset, and Step into 2025

Grab my End of Year Reflections Prompts that will help you make and stick to meaningful goals for the new year!

Wealthy Mom MD with Bonnie Koo | Reflect, Reset, and Step into 2025

As we wrap up the year, I’ve been thinking about how time seems to speed up as we get older. Do you feel it too? Summers that once felt endless now seem to pass in the blink of an eye, especially with kids around. That’s why it’s important to pause and reflect on the year - on what went well, what we’ve learned, and the moments that truly mattered. For me, one of the highlights was spending a month in Greece with my family, enjoying a freedom and simplicity that’s hard to find in daily life.

Reflection doesn’t have to be overwhelming. It can be as simple as setting aside time to write about your favorite memories or jot down lessons from the challenges you’ve faced. I share some practical ways to reflect on the positives, the meaningful moments, and what you’d like to carry forward into the new year. Whether it’s creating a photo album or journaling, the key is to find tools that work for you and let them guide your thoughts as you close out 2024.

Join me today as we create space to reflect and plan with purpose. Together, we’ll celebrate what made this year special and start thinking about the next chapter. Whether you want to reconnect with your achievements or imagine what 2025 could bring, this episode will inspire you to look back with gratitude and ahead with intention.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • Why reflecting on your year can help you move forward with clarity and purpose.
  • Simple ways to pause and appreciate the positives from 2024.
  • How to create a meaningful reflection through journaling, photo albums, or storytelling.
  • How to identify the lessons in your challenges and turn them into growth opportunities.
  • Why unstructured play and simplicity can bring joy to your family life.
  • How to set the tone for 2025 with a clear vision and sense of direction.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

222: Navigating Perimenopause and Beyond: A Guide to Women’s Health with Dr. Shieva Ghofrany

222: Navigating Perimenopause and Beyond: A Guide to Women’s Health with Dr. Shieva Ghofrany

Wealthy Mom MD with Bonnie Koo | Navigating Perimenopause and Beyond: A Guide to Women’s Health with Dr. Shieva Ghofrany

Being a woman can be challenging, especially when navigating life’s unspoken phases like perimenopause and menopause. I’m joined by Dr. Shieva Ghofrany, a board-certified OB/GYN with over 14 years of experience, to explore the often-overlooked aspects of women’s health. Dr. Shieva shares her personal experience of navigating postpartum life after having her third baby at 41, while also entering perimenopause. She sheds light on how unpredictable and transformative these phases can be, from hormone fluctuations to muscle loss.

In this episode, we dive into actionable advice for women of all ages. Dr. Shieva emphasizes the importance of building muscle and focusing on protein intake, especially after your 30s. She explains how small, realistic changes - like weightlifting and eating well - can have a big impact. Additionally, she discusses the gaps in medical education that leave both women and doctors uninformed about managing perimenopause and menopause, and offers simple, accessible solutions for taking charge of your health.

Tune in this week to gain expert insights on perimenopause, menopause, and postmenopause, as well as practical tips for navigating these life stages with confidence. From the surprising benefits of vaginal estrogen to breaking down the myths around hormone therapy and women’s libido, this episode is packed with empowering knowledge. No matter your age, this is an essential listen to help you take the reins on your health journey.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • The key differences between perimenopause, menopause, and postmenopause.
  • Why knowing these definitions is vital.
  • How to manage hormone fluctuations with simple, accessible lifestyle changes.
  • Why building muscle and prioritizing protein intake in your 30s can have long-term health benefits.
  • The surprising connection between estrogen and vaginal health at different life stages.
  • How gaps in medical education affect women’s access to comprehensive health knowledge.
  • Myths and truths about hormone therapy, including the role of vaginal estrogen and testosterone.
  • Insights into the limited options for addressing women’s libido compared to men’s health solutions.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

220: Raising Financially Savvy Kids with Hope Seidel, MD

220: Raising Financially Savvy Kids with Hope Seidel, MD

Wealthy Mom MD with Bonnie Koo | Raising Financially Savvy Kids with Hope Seidel, MDDo you struggle with knowing how to talk to your kids about money? Are you worried they'll grow up feeling entitled? In this episode, I'm joined by Dr. Hope Seidel, a pediatrician turned parenting coach, to discuss strategies for raising financially savvy kids.

As physicians, many of us are considered affluent and have the means to give our children what they want. But how do we decide what's appropriate and teach them to be good stewards of their money? Hope shares her expertise on navigating these tricky conversations and instilling healthy financial values.

We dive into topics like allowance, separating chores from money, modeling restraint, and using everyday moments to teach skills like budgeting and delayed gratification. Hope emphasizes the importance of being intentional with the lessons we impart and using money conversations as opportunities to discuss our values. Tune in for actionable tips to set your kids up for financial success!

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • Why it's crucial to be intentional about the financial lessons you teach your kids.
  • How to separate chores from allowance and teach the value of contributing to the household.
  • Strategies for modeling restraint and delayed gratification around purchases.
  • Ways to use everyday situations to teach budgeting and financial literacy skills.
  • The importance of having transparent conversations about wealth, privilege, and values.
  • How to navigate the challenges of raising non-entitled kids in an affluent community.
  • Tips for aligning with your partner on financial parenting decisions.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

219: Smart Shopping Strategies for Black Friday

219: Smart Shopping Strategies for Black Friday

Wealthy Mom MD with Bonnie Koo | Smart Shopping Strategies for Black FridayWhen it comes to Black Friday, it's easy to get caught up in the buzz and spend beyond what you planned. I know the feeling all too well. So let’s start by setting up a game plan to avoid those common pitfalls. Whether it’s gifts for loved ones or items you’ve been eyeing all year, taking stock of what you need - and sticking to it - can make all the difference.

I’ll walk you through crafting a budget that covers everything, right down to some wiggle room for those last-minute impulse buys. We’ll break down how to balance between your total spending goals and individual budgets for each person on your list. Trust me, with some careful planning, you can make every dollar (and point) count.

Tune in to learn how to tackle Black Friday like a pro. From setting up a Rakuten account to take advantage of cash back deals, to optimizing shopping portals for points, I’ve got you covered. Whether you're an avid planner or just want a bit more strategy in your shopping, this episode will give you the tools to save smartly and make the most out of this Black Friday season.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • How to set up a realistic Black Friday budget and avoid overspending.
  • Creating effective shopping lists to stay focused on must-haves and gifts.
  • Planning individual spending caps for each person on your list.
  • Strategic tips on opening a rewards credit card to maximize bonus points.
  • Leveraging Rakuten and other shopping portals for additional cash back and points.
  • Ways to take advantage of credit card rewards for future savings.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.