Podcast

Wealthy Mom MD with Bonnie Koo | Financial Planning for Special Needs Children with Britta Koepf

212: Financial Planning for Special Needs Children with Britta Koepf

212: Financial Planning for Special Needs Children with Britta Koepf

Wealthy Mom MD with Bonnie Koo | Financial Planning for Special Needs Children with Britta KoepfPlanning for a child is one of the most rewarding journeys, but it can also be quite the challenge, especially when that child has special needs. Financial considerations are crucial if you or someone you know is in this situation. This is what led me to my chat with Britta Koepf, a certified financial planner and special needs consultant who has dedicated her career to helping families navigate these complex waters.

In our discussion, Britta shares her expertise on the intricacies of financial and special needs planning, from setting up various types of trusts to exploring ABLE accounts. We dive into why it's so important to plan for multiple futures, given the unpredictable nature of special needs. Britta also stresses the importance of starting early and customizing plans to ensure your child can thrive without losing out on government benefits.

Tune in this week to pick up invaluable tips on securing your special needs child's future. Whether you're a parent, guardian, or know someone in this position, this episode is packed with practical advice and resources. We cover everything from understanding government benefits and insurance options to the role of financial advisors in planning for your child's long-term needs.

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

What You'll Learn from this Episode:

  • How to set up different types of trusts for special needs children and their benefits.
  • The essentials of ABLE accounts and how they compare to trusts.
  • Why it’s important to plan for multiple futures given the unpredictable nature of special needs.
  • Strategies for ensuring your child can thrive without losing out on government benefits.
  • Key considerations for incorporating government benefits and insurance options into your financial plan.
  • Advice on working with financial advisors to secure your child's long-term financial needs.

Listen to the Full Episode:

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Wealthy Mom MD with Bonnie Koo | What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out Money

211: What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out Money

211: What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out Money

This week, Wealthy Mom MD with Bonnie Koo | What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out MoneyI had the pleasure of sitting down with Nick True, the founder of Mapped Out Money, to discuss the often overlooked world of cash flow management. Nick's journey into financial coaching started with a blog and YouTube channel back in 2015 where he and his wife explore the nitty-gritty of day-to-day financial planning. Unlike the often glamorized world of investing, Nick argues that mastering your cash flow is fundamental - it's the backbone that supports everything from budgeting to long-term financial security.

A common pitfall among high earners is neglecting cash flow. Nick’s approach isn't about being overly frugal, but rather about aligning spending with personal values and long-term aspirations. From the importance of tracking every dollar spent to the strategic use of some amazing tools, we discuss the transformative power of understanding where your money goes.

Tune in this week to learn how to navigate your financial journey with clarity and purpose. Discover why mastering cash flow isn't just about budgeting - it's about gaining the freedom to live the life you envision, without financial stress holding you back. Join us as we uncover practical steps to align your spending with your values, and to build a sustainable path towards your financial goals.

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

What You'll Learn from this Episode:

  • Why mastering cash flow is crucial for long-term financial security.
  • Practical strategies to track and optimize your daily spending habits.
  • How to align your financial decisions with your personal values and life goals.
  • The benefits of using tools like the You Need a Budget (YNAB) app for effective budget management.
  • Insights into common pitfalls high earners face with neglecting cash flow management.
  • How to challenge your approach to money management and start building a path towards financial freedom.

Listen to the Full Episode:

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Wealthy Mom MD with Bonnie Koo | Navigating Long-Term Care Insurance with Wallis Tsai, CEO of Above Board Financial

210: Navigating Long-Term Care Insurance with Wallis Tsai, CEO of AboveBoard Financial

210: Navigating Long-Term Care Insurance with Wallis Tsai, CEO of AboveBoard Financial

Wealthy Mom MD with Bonnie Koo | Navigating Long-Term Care Insurance with Wallis Tsai, CEO of AboveBoard Financial

With many of us living longer lives, often with chronic illnesses, understanding long-term care is more crucial than ever. Wallis Tsai, the founder and CEO of AboveBoard Financial, is driven by a passion for ethical insurance practices. She transitioned from a high-powered role at Goldman Sachs to start her own independent insurance brokerage. Her mission is to provide transparent, informed guidance on long-term care insurance, a topic that can often feel overwhelming and confusing.

Wallis unpacks the evolution of the long-term care insurance industry, highlighting its tumultuous past and significant changes. She breaks down the various types of policies available today, from traditional long-term care plans to innovative hybrid policies that combine life insurance with long-term care benefits. Wallis shares her insights on industry challenges and pitfalls, like sudden premium hikes, and offers practical advice on making informed decisions.

Tune in this week to learn about the critical role long-term care insurance can play in your financial security and peace of mind. Wallis explains how AboveBoard Financial is setting a new standard with their transparent and client-focused approach. We also discuss practical tools, like cost analysis, to help you understand the expenses associated with long-term care in different regions.

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

What You'll Learn from this Episode:

  • The evolution of the long-term care insurance industry and its significant changes over the years.
  • The differences between traditional long-term care plans and innovative hybrid policies.
  • Common challenges and pitfalls in the long-term care insurance industry.
  • Practical advice on when and how to start considering long-term care insurance.
  • Tools and tips for understanding the costs associated with long-term care in different regions and making informed decisions.

Listen to the Full Episode:

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

 

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Wealthy Mom MD with Bonnie Koo | Relax, Learn, Grow: Highlights from My Conference Journey

209: Relax, Learn, Grow: Highlights from My Conference Journey

209: Relax, Learn, Grow: Highlights from My Conference Journey

Wealthy Mom MD with Bonnie Koo | Relax, Learn, Grow: Highlights from My Conference JourneyI recently took a two-week trip to the Caribbean to attend several conferences, but this time, I was there solely as an attendee, which was a refreshing change from my usual role as a speaker. In fact, this new perspective allowed me to fully immerse myself in the sessions and absorb the wealth of knowledge being shared, some of which I'd like to share with you in this episode.

Throughout the trip, I participated in four unique conferences, each offering valuable insights and fresh ideas. From the Prosperous Conference by Semi-Retired MD hosts to an eye-opening discussion on AI technologies, I gained a deeper understanding of the latest trends and strategies in various fields. The location of the conferences, the speakers, and the topics we covered were all purposefully designed for relaxation and a focus on business and personal growth.

Tune in this week to learn about my key takeaways from these conferences, including the importance of staying updated with technological advancements, the benefits of attending mastermind groups, and the necessity of diversifying investments. Whether you're looking to enhance your business acumen or stay ahead in the ever-evolving tech landscape, this episode is packed with insights that will inspire and inform.

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

The 2025 Live Wealthy Money and Wellness Conference for Female Physicians is opening for registration on May 29th, 2024. Ensure you're among the first to secure your spot and save $500 by joining our waitlist now! Click here to join the waitlist and get exclusive access.

What You'll Learn from this Episode:

  • Learn about the latest advancements in AI, including practical applications for business and customer support.
  • The importance of diversifying investments beyond the stock market.
  • The value of mastermind sessions and collaborative problem-solving with other entrepreneurs.
  • How to balance professional development with personal growth.

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.

 

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Wealthy Mom MD with Bonnie Koo | How to Protect Yourself in Today’s Digital Landscape

208: How to Protect Yourself in Today’s Digital Landscape

208: How to Protect Yourself in Today’s Digital Landscape

Wealthy Mom MD with Bonnie Koo | How to Protect Yourself in Today’s Digital LandscapeIn today's fast-paced digital world, safeguarding your personal and family's online security has become paramount. It’s like ensuring the doors are locked before we step outside. Security breaches, particularly within larger corporations, consistently remind us of the vulnerabilities we all encounter. As a result, it prompted me to reevaluate my own online protection measures.

Having dedicated time to research, I've implemented several proactive measures to strengthen my online security. Because it goes beyond the mere protection of personal data - it’s also about securing the collective well-being and ensuring we're equipped to navigate the evolving digital threats in the future as well.

Tune in this week as we explore practical strategies and tools to bolster your online security posture. From securing home Wi-Fi networks to implementing two-factor authentication and safeguarding children's online identities, we'll cover actionable measures to mitigate risks in today's digital environment. But do remember, while these steps help a lot, you should still remain vigilant.

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

The 2025 Live Wealthy Money and Wellness Conference for Female Physicians is opening for registration on May 29th, 2024. Ensure you're among the first to secure your spot and save $500 by joining our waitlist now! Click here to join the waitlist and get exclusive access.

What You'll Learn from this Episode:

  • Practical steps to fortify your passwords and protect personal data.
  • Strategies for safeguarding your home Wi-Fi network from potential threats.
  • Why it’s important to implement two-factor authentication for enhanced security.
  • How to monitor and manage your credit score to detect any suspicious activity.
  • How to safeguard your children's online identities and ensure their safety.
  • The significance of staying vigilant and proactive in navigating the ever-evolving digital landscape.

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.

 

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Wealthy Mom MD with Bonnie Koo | Building Your Dream Outside of Medicine with Tiffany Moon, MD

207: Building Your Dream Outside of Medicine with Tiffany Moon, MD

207: Building Your Dream Outside of Medicine with Tiffany Moon, MD

Wealthy Mom MD with Bonnie Koo | Building Your Dream Outside of Medicine with Tiffany Moon, MDI love that there are tons of in-person events for professional women to get together and excel. My guest this week holds these kinds of events herself, and she’s here to discuss the amazing opportunities that live events present to us as physicians to create success in community.

Today, I’m joined by a very special guest. Dr. Tiffany Moon is a board-certified anesthesiologist, a social media personality, ex Real Housewife, and a mom of twins. She’s built an amazing career outside of her clinical work, and she’s here to discuss the many opportunities that exist for physicians outside of practicing medicine.

Tune in this week to discover how Tiffany Moon is creating opportunities for herself outside of her work as a physician. You’ll learn what it takes to create real, sustainable wealth while also enjoying the present moment, and Tiffany is sharing an incredible opportunity to find a community of powerful women who make things happen.

Learn more about Live Wealthy, an exclusive coaching program designed for successful women who want to be confident.... and be rich.

What You'll Learn from this Episode:

  • The difference between an influencer and a social media personality.
  • Tiffany Moon’s story of becoming a Real Housewife of Dallas and a social media personality.
  • How social media helped Tiffany make real friends as a busy physician.
  • Why we need to look beyond medicine to start building real, sustainable wealth.
  • How Tiffany Mood prioritizes connection over perfection in every aspect of her life.
  • The balance Tiffany strikes between financially preparing for the future and enjoying the present.
  • How Tiffany created an amazing conference for professional women.

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.

 

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Wealthy Mom MD with Bonnie Koo | How to Start Thinking like an Entrepreneur

206: How to Start Thinking like an Entrepreneur

206: How to Start Thinking like an Entrepreneur

Wealthy Mom MD with Bonnie Koo | How to Start Thinking like an EntrepreneurThis week, you’re getting a preview of my talk on entrepreneurship at the 2024 Money and Wellness Conference for Women Physicians!

Whether you want to start your own business or you’re happy staying an employee, everyone needs to learn the skills of thinking like and being an entrepreneur. The good news is that our training as physicians makes us natural entrepreneurs, and in this episode, I’m walking you through the basics of an entrepreneurial mindset.

Join me on this episode to learn why everyone needs to know how to think like an entrepreneur, even if you have no desire to start your own company. I'm showing you the differences between the mindset of an entrepreneur versus an employee, what gets in the way of physicians thinking like entrepreneurs, and the importance of finding community in entrepreneurship.

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

What You'll Learn from this Episode:

  • Why everyone needs to learn the skills of thinking like and being an entrepreneur.
  • The differences between an entrepreneur and an employee mindset. 
  • How our training as physicians makes us natural entrepreneurs.
  • The challenges physicians face in thinking like and being entrepreneurs.
  • How money drama affected my business.
  • Why finding a community in entrepreneurship matters.
  • The importance of investing in your mindset.

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.

 

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Wealthy Mom MD with Bonnie Koo | How Physicians Can Start Their Real Estate Journey with Peter Kim M.D.

205: How Physicians Can Start Their Real Estate Journey with Peter Kim M.D.

205: How Physicians Can Start Their Real Estate Journey with Peter Kim M.D.

Wealthy Mom MD with Bonnie Koo | How Physicians Can Start Their Real Estate Journey with Peter Kim M.D.My guest this week is Dr. Peter Kim, a practicing anesthesiologist with a wealth of knowledge when it comes to real estate investing. He started sharing about his journey to financial freedom on his blog, Passive Income MD, with the hopes of helping other physicians do the same through his online course and physician-only community.

Like many of you physicians, Dr. Peter Kim decided he wanted other ways to generate income outside of his job as a doctor. He landed on real estate investing as the best way to supplement his clinical income, and he’s dedicated himself to helping others make the same move he did. I’ve learned tons about real estate investing from Peter, and he’s here to share his wisdom with all of you.

Tune in this week to discover the different options for physicians who want to invest in real estate. Peter shares why he chooses to focus mostly on passive real estate investing, why real estate is the key to financial freedom for physicians like us, and most importantly, how you can get started on your real estate investment journey.

Join us for a live workshop hosted by Peter Kim on Thursday, April 11th, 2024 at 12 pm ET. Learn about passive real estate and why it might be a valuable addition to your portfolio. Click here to sign up to secure your spot and receive the Zoom link.

This weekend, April 6th and 7th, is your chance to get $200 off Peter's signature program, Passive Real Estate Academy. Don't miss out on this opportunity to gain confidence in evaluating deals and mastering passive real estate in just four weeks. Register now and take control of your financial future!

What You'll Learn from this Episode:

  • How real estate investments help you take control of your money as a physician.
  • Why Peter chooses to prioritize investing in real estate rather than other options like stocks.
  • The powerful sense of community in the physician real estate investing space.
  • How there is a massive need for education on real estate in the physician space.
  • Why Peter prefers to focus more on passive real estate investing rather than active.
  • How to make real estate investment your key to financial and time freedom.

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.

 

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Wealthy Mom MD with Bonnie Koo | Lessons from the Money and Wellness Conference for Women Physicians

204: Lessons from the Money and Wellness Conference for Women Physicians

204: Lessons from the Money and Wellness Conference for Women Physicians

Wealthy Mom MD with Bonnie Koo | Lessons from the Money and Wellness Conference for Women PhysiciansThe first-ever Money and Wellness Conference for Women Physicians in 2024 just concluded at the Miraval Arizona!

This is the first and only money conference specifically for women physicians that I know of, and it’s something I feel very strongly about. There is so much power and magic in meeting in person to discuss all things money and wellness, and I’m sharing some of my top takeaways with you in this episode.

From the location of the conference to the speakers and topics we covered, all of it was purposefully designed for relaxation and a focus on your personal growth. Listen in to hear my top takeaways from this conference, and nuggets of wisdom from the experts who shared their insights on topics like real estate, negotiation, charting, and emotional regulation.

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

What You'll Learn from this Episode:

  • My intentions and vision for the Money and Wellness Conference for Women Physicians.
  • The time and effort required for you to create passive income.
  • Why there is always learning to be had, even in an area in which you might be an expert.
  • The importance of thinking like an entrepreneur, even if you’re not one.
  • How to use a stress scale to practice emotional regulation.
  • Why you must understand the outcome you want out of a negotiation conversation.

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.

 

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Wealthy Mom MD with Bonnie Koo | Do You Even Need a Financial Planner? With Sim Terwilliger of SLP Wealth

203: Do You Even Need a Financial Planner? With Sim Terwilliger of SLP Wealth

203: Do You Even Need a Financial Planner? With Sim Terwilliger of SLP Wealth

Wealthy Mom MD with Bonnie Koo | Do You Even Need a Financial Planner? With Sim Terwilliger of SLP WealthThis week, I’m bringing you a conversation with a representative of another of my amazing sponsors: SLP Wealth. SLP stands for Student Loans Planner. As many of us know, student loans can be pretty complicated. But thanks to some recent changes, you could have the opportunity to get your loans forgiven. To discuss this, and also dive into financial planning in general, I’m joined by Sim Terwilliger.

Sim Terwilliger is a Certified Financial Planner and Certified Student Loan Professional with SLP Wealth. She is a passionate advocate for her clients in all stages of their financial life plans. Whether you want to take a sabbatical, figure out when you can retire, or you want to know how much house you can afford, Sim believes these choices are personal, and your financial plan should be too.

Tune in this week to discover why, especially as a physician, you need a financial planner on your side. Sim Terwilleger is discussing how SLP Wealth does things a little differently. We’re simplifying the common jargon you encounter in the financial planning space, and you’ll learn how to make sure your financial planner is working in your best interest and toward your specific goals.

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

What You'll Learn from this Episode:

  • Why SLP Wealth decided to take a different approach from typical financial planners.
  • Some of the unhelpful advice out there about student loans that prevents you from building real wealth.
  • Why, especially as a physician, you need a financial planner in your corner.
  • How SLP Wealth works with their clients to pursue their financial goals.
  • Some examples of how a financial planner can help you save on your tax bill.
  • How to know whether or not a financial planner is acting in your best interest.
  • What you need to know about student loan forgiveness in 2024.

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.

 

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