Episode 205: The Annual Financial Deep Clean: A 5-Point Financial Audit

Send us Fan MailJust as an annual physical catches "silent killers" like hypertension, a financial deep clean identifies "Efficiency Leaks" before they cost you hundreds of thousands in lost growth. This episode provides a 5-point audit to ensure your money and mindset are perfectly aligned while you focus on your practice.The 5-Point Financial Audit:1. Financial Goals Review: Move beyond vague ideas. Are your goals SMART (Specific, Measurable, Achievable, Relevant, and Time-bound)? Don’t forget to celebrate your wins—it builds the momentum needed to keep going.2. Lifestyle Creep Calibration: Calculate your Burn Rate. Physicians are prone to "Incremental Creep" where raises disappear into convenience spending. Ensure your outflows reflect your actual values.3. The "Defense" Review: Umbrella Policy: Aim for coverage equal to your net worth (up to $5M).Disability Buy-Up: Check your "increase riders" to protect your growing income.Estate Assets: Ensure new properties are inside your trust and beneficiaries are updated.4. The Subscription Purge: Audit your recurring "SaaS" charges. Call your providers and ask, "Is this the best rate you can offer?" A five-minute call can save $500 a year.5. Portfolio Rebalancing: Don't let a bull market skew your risk profile. Use new cash to buy underweighted assets or rebalance within tax-advantaged accounts (401k/IRA) to "sell high" and stay disciplined.The 72-Hour ChallengeDon’t try to do all five at once. Pick the easiest task and complete it within the next 3 days.Please subscribe and leave a review on your favorite Podcasting platform. Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakesIf you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbookDr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .You can learn more about Elisa at her website or follow her on social media.Website: https://ww.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/ElisaChiang Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...