Why being your own financial planner is costing you millions

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. Our presenting sponsor is Microsoft Dragon Copilot. Microsoft Dragon Copilot, your AI assistant for clinical workflow, is transforming how clinicians work. Now you can streamline and customize documentation, surface information right at the point of care, and automate tasks with just a click. Part of Microsoft Cloud for Healthcare, Dragon Copilot offers an extensible AI workspace and a single, integrated platform to help unlock new levels of efficiency. Plus, it's backed by a proven track record and decades of clinical expertise, and it's built on a foundation of trust. It's time to ease your administrative burdens and stay focused on what matters most with Dragon Copilot, your AI assistant for clinical workflow. VISIT SPONSOR → https://aka.ms/kevinmd SUBSCRIBE TO THE PODCAST → https://www.kevinmd.com/podcast RECOMMENDED BY KEVINMD → https://www.kevinmd.com/recommended