You’ve made it through med school and residency—and now the commas are finally showing up in your paycheck. But higher income doesn’t automatically equal financial stability.  Earning a physician’s salary feels like a huge win—but what you do next will either build wealth or build regret. In this episode of Financial Fortitude, Michael and Brady lay out the 4-step financial triage plan every new doctor needs to start strong.  

You’ll learn:
    ● The 4-step financial plan every new physician should follow
    ● How to manage student loans without losing lifestyle momentum
    ● The #1 protection most new doctors overlook—and why it matters
    ● Why “maxing out your 401(k)” isn’t always the smartest move
    ● How to avoid lifestyle creep and start building real wealth now

This episode is your step-by-step playbook for making smart money moves in your first few years as an attending.  Michael and Brady blend real talk, strategic advice, and medical analogies that make financial planning easy to understand—even during 80-hour weeks.

Key Timestamps:
(00:00) - Transitioning from medical school to residency
(03:05) - Jumping from residency to attending salary
(04:54) - Three common financial profiles of new physicians
(07:00) - Salary ranges by specialty and geography
(08:55) - Lifestyle creep and financial risks
(12:20) - Starting with a cash flow analysis
(13:45) - Leveraging your early income for wealth building
(15:27) - Dangers of overindulgence after residency
(17:10) - Hidden risks despite high attending salaries
(18:20) - De-risking your balance sheet
(20:35) - Unique risk factors for medical professionals
(25:55) - Understanding tiers of liquidity
(30:12) - Physician burnout and optionality
(31:50) - Planning to live debt-free
(35:22) - Income-driven repayment and PSLF strategy
(39:05) - Strategic payoff vs. emotional payoff
(41:20) - Prioritizing toxic debt in financial triage
(45:33) - New student loan legislation highlights

Key Topics Discussed:
Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, , Hiring a Financial Advisor, Student Loan Forgiveness, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income Money, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Financial planning for physicians, Student loan strategies for doctors, Transitioning from residency to attending, Physician wealth building tips, Medical professional financial advice

Mentions: 
Website: https://www.genesiswealthplanning.com/
Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/
Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/
Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice.  Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own.  Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. 

Guest speakers and the firms are not affiliated with or endorsed by Securities Guardian or Genesis. Wealth Planning, LC and opinion stated are their own. Guardian subsidiaries, agents and employees do not provide tax, legal or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.

All investments in investment strategies contain risk and may lose value. All scenarios. Names mentioned here are purely fictional and have been created solely for educational purposes. Any resemblance to existing situations, person or fictional characters is coincidental. The information presented should not be used as the basis for any specific investment advice.

Links to external sites are provided for your convenience in locating related information and services. Guardian, its subsidiaries, agents and employees expressly disclaim any responsibility for and do not maintain, control, recommend, or endorse third-party sites, organizations, products, or services and make no representation as to the completeness, suitability, or quality thereof.

Michael Acosta and Brady Hemmerle are Registered Representatives and Financial Advisors of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. 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. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. Michael Acosta'sCA Insurance License # 0M50974. Brady Hemmerle’s CA Insurance License # 4353077.  7237198.31  Exp 4/28