Most physicians assume their first contract is a “standard agreement” that everyone signs without question. But as Kyle Claussen, CEO of Resolve, reveals in this episode, there’s no such thing as a truly standard physician contract.

From compensation structures to non-compete clauses and tail coverage, every detail can significantly impact your financial future and career flexibility. Yet, many doctors accept these contracts at face value, unknowingly leaving money on the table or committing to restrictive terms that could hinder them down the road.

By the time a physician realizes a contract term is unfair, it’s often too late. That’s why Kyle emphasizes the importance of negotiation—even for new attendings who feel they have little leverage.

With insights into compensation benchmarks, legal loopholes, and real-life examples of contract pitfalls, this episode equips physicians with the knowledge they need to advocate for themselves. Whether you’re reviewing your first contract or renegotiating your current one, this conversation is a must-listen for any doctor who wants to be treated—and paid—fairly.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• (0:00) Why ‘Standard Contracts’ are anything but standard
• (2:30) Do residents need an attorney for training contracts?
• (4:00) Your first attending contract: Why "standard" is a myth
• (7:10) Compensation pitfalls & the long-term impact of a low starting salary
• (9:10) The hidden dangers of tail coverage
• (16:00) The biggest red flags in physician contracts
• (24:50) Side gigs, burnout, and financial freedom

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

• Resolve
• Bain & Company Report
• CMS Compensation Guidelines

• Resolve’s website
• Kyle Claussen on LinkedIn

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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Lots of physicians wonder: If I can manage my own investments, why pay an advisor? It’s a fair question. If you're comfortable picking index funds and setting up automated contributions, what’s left for an advisor to do?

This conversation unpacks the real value of financial planning beyond investments. From student loans and tax decisions to asset protection and estate planning, there's much more to consider than just growing a portfolio. Many assume an advisor’s worth is tied to investment management alone, but the real benefits show up in unexpected areas—especially as life and finances become more complex.

We break down when it makes sense to hire an advisor, how to recognize a good one, and whether paying for professional help actually leads to better financial outcomes. Whether you're just getting started or re-evaluating your financial team, this discussion helps bring clarity to an often misunderstood topic.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• (0:00) Why Pay an Advisor at all?
• (1:20) When to hire a financial advisor
• (3:29) Flat fee vs. AUM: Key differences
• (7:41) What to look for in an advisor
• (14:20) Misconceptions about financial advice
• (25:10) Spotting red flag advisors
• (34:40) Finding the right long-term fit

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

• Certified Financial Planner (CFP) Board
• Tyler Olson’s Personal Finance Resources List
• National Association of Personal Financial Advisors (NAPFA)

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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Managing your own investments can feel empowering—especially when you've done the research and built a solid plan. But when does the complexity of financial planning cross the line from DIY-friendly to requiring professional help?

That’s exactly what Dr. W is wondering. As a resident who's been diligently managing an all-equity portfolio, he’s now questioning when and if a financial advisor would be worth the cost. What’s the real value of professional advice, and how does it stack up against a well-educated, self-managed approach?

We unpack the tangible and intangible benefits of working with a financial planner, from tax management and asset allocation to the critical role of behavioral coaching. The answers may surprise even the most financially savvy physicians.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• (4:50) The financial industry’s value problem
• (7:10) The gap between advisor cost and value
• (9:10) How to tell if an advisor adds value
• (13:30) The hidden cost of bad advice
• (18:00) Why behavior & tax strategy matter
• (22:40) What to ask when hiring an advisor
• (27:30) Tax planning: the advisor’s edge
• (36:20) Final thoughts on advisor selection

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

• Vanguard Advisor’s Alpha
• Michael Kitces
• Bogleheads Community

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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What does it take to pave the way for the next generation while navigating the scars of being first? When we sat down with Steve Sample, an emergency medicine physician, we were struck by his mix of gratitude, hard-earned wisdom, and tough decisions.

From his untraditional path into medicine—starting as a young father with dreams of becoming Garth Brooks—to now supporting his daughter through medical school, Steve offered a candid look at the challenges and triumphs of being a first-generation doctor building generational wealth.

We explored the financial and emotional realities of supporting a child through one of the most expensive educational journeys out there. Together, we unpacked big questions: How do you balance a child’s dreams against daunting debt? What financial lessons can you pass along while helping them build independence? And how do families create equity among siblings while setting the next generation up for success?

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• (00:00) How physicians manage family finances while building generational wealth
• (00:34) Steve Sample’s journey from aspiring musician to emergency medicine doctor
• (02:15) Lessons from a nontraditional path to medicine and early financial struggles
• (06:00) Supporting kids through medical school without sacrificing independence
• (16:30) Preparing for fourth-year med school costs and residency transitions
• (27:00) Smart strategies for retirement savings and long-term wealth building
• (33:40) Balancing career demands with family life and personal health

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

• Air Force Health Professions Scholarship Program (HPSP) fact sheet
• Public Service Loan Forgiveness (PSLF)

• Steve Sample on LinkedIn

In the last couple of episodes, we’ve started to scratch the surface when it comes to the importance of disability insurance.

Navigating the world of disability insurance as a physician can be complex, especially when it comes to understanding how medical conditions impact coverage eligibility.

In this episode of Physician Cents, Larry Keller breaks down the most common medical issues that lead to disqualification or exclusion from coverage—and what you can do to protect yourself.

From understanding Guaranteed Standard Issue (GSI) plans to spotting red flags with agents, Larry shares invaluable insights to help you make informed decisions. Tune in to learn why this foundational aspect of financial planning is critical to getting right the first time.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• (0:00) Introducing Larry Keller of Physician Financial Services
• (5:38) Common medical issues that will disqualify you from coverage
• (16:05) The two types of GSI plans available on the market
• (18:07) Some myths circulating about guaranteed standard issue offers
• (22:34) Red flags to watch out for with GSI agents
• (27:00) Why doesn’t every program offer a GSI?
• (28:42) How to determine if you shouldn’t get a GSI
• (41:39) How to find a trusted insurance agent
• (48:05) How disability insurance protects your future

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

• Why Every Physician Needs Disability Insurance with Michael Relvas, CFP®, Ep #18
• Exploring Financial New Year’s Resolutions with The White Coat Investor, Ep #20

• Physician Financial Services
• Connect on LinkedIn

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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Is your financial house in order for 2025? In this special episode of Physician Cents, we’re joined by Jim Dahle, the one and only "White Coat Investor," to help you tackle the financial “resolutions” every physician should embrace. From crafting a rock-solid financial plan to protecting your health and wealth, this conversation is packed with actionable advice to start the year strong.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Get a financial plan in place [1:55]
• Get educated about debt [4:32]
• Invest in date nights [7:01]
• Get disability insurance [8:33]
• Spend money on something that makes you feel alive [17:51]
• Protect your health alongside your wealth [22:57]
• Be intentional with your portfolio design [25:22]
• Get a values-based system in place [30:25]
• Learn about the Physician Wellness & Financial Literacy Conference [33:22]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

• The Physician Wellness & Financial Literacy Conference

• The White Coat Investor
• Connect on LinkedIn

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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Debt is a reality that most medical professionals face, with 78% of graduating medical students carrying substantial loans. It’s not the easiest topic to discuss, but it’s a critical one. For most, debt is a significant piece of the financial puzzle—and knowing how to manage it effectively can shape your future.

In this episode, Jenny Twomey—the Community Communications Lead at Earnest—joins us to break down loan repayment and refinancing. We’ll explore the pros and cons of refinancing, how to evaluate your loan options, and the key factors to consider when making these decisions. Whether you’re just starting out or looking to take control of your financial future, this conversation is packed with insights you can use right away.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• Navigating repaying private student loans [2:14]
• What is debt? How does it work? [8:09]
• Who shouldn’t consider refinancing? [11:56]
• Who should consider refinancing? [17:45]
• Learn more about refinancing options with Earnest [24:51]

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

• Earnest.com

• Connect on LinkedIn

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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As a physician, your income is your most valuable asset—but what happens if you’re unable to work due to illness or injury? Disability insurance is critical to protecting the investment you’ve made in your education and career. It ensures financial stability in the face of unforeseen challenges, whether it’s a car accident or a cancer diagnosis.

While premiums can be costly, especially during residency, starting with even a small policy is far better than having no coverage at all. In this episode of Physician Cents, Michael Relvas, CFP® joins us to explore the importance of disability insurance.

He covers key considerations like level versus graded premiums, and why group coverage alone often falls short. Learn how to safeguard your future against the unexpected, because your financial well-being depends on it.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

• [1:46] Why does every physician need disability insurance?
• [8:18] Choosing a lower amount versus a graded premium
• [10:53] Understanding level versus graded premiums
• [16:56] Is group disability insurance coverage enough?
• [22:16] Why you need to know the policy language
• [27:48] Anecdotal evidence: Why disability insurance is necessary
• [33:34] Take this decision process seriously

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don’t expect!) about a sponsor, please let us know. We call it the “best of the best” for a reason, and we will maintain that standard for our listeners & viewers.

This podcast is for informational purposes only. Physician Cents is not affiliated with or endorsed by PAS, Guardian, or M.R. Insurance Consultants and opinions stated are their own.

Michael is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 9200 CORPORATE BLVD, SUITE 390, ROCKVILLE MD, 20850, 240-683-9700. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. M.R. Insurance Consultants is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License #0G91249, AR Insurance License #8913976. 2024-179887 Exp 8/26

• Connect with Michael on LinkedIn
• MR Insurance Consultants

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

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