Certified financial planner Michelle Neiswender discusses her article, "Why physicians should not be their own financial planner." Michelle explains why physicians, despite being brilliant, often make costly financial mistakes when managing their own money. She argues that financial planning is a complex specialty (just like medicine) and that a doctor's time is too valuable to be spent decoding tax rules or tracking stocks. Michelle highlights the unique tax challenges physicians face as high-income earners and how emotional bias (like fear during a market dip) can derail a financial plan. This discussion covers why delegating to a CFP is a wealth-building strategy and how it protects physicians from costly errors in investments, retirement planning, and insurance. Learn why the smartest doctors get a "second opinion" on their financial health.

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Why being your own financial planner is costing you millions

The Podcast by KevinMD