Ep109: Your 401(k) Isn’t Free: How to Find and Cut Hidden Fees (Form 5500 Guide for Doctors)
Most of us assume our 401k plans are free because we never see a bill. But hidden fees—record keeping, custodial, administration, and advisory costs—can silently erode your retirement savings over time. In this episode, Dr. Disha Spath sits down with forensic 401k consultant Paul Sippel to uncover how these costs work, why they’re so hard to detect, and practical steps you can take to protect your wealth. If you’re a physician, business owner, or employee relying on your 401k for retirement, this conversation is a must-listen! Key Topics Covered: 1. The Hidden Price of 401K Why most employees (and even physicians) don’t realize how much retirement fees are costing them 2. Decoding the Fee Structure Custodial, record keeping, administration and advisory charges explained by Paul 3. So Who Really Pays the Bill? How physicians often carry a bigger share of plan costs than their staff. 4. Defining a “reasonable” costs Benchmarks to know if your plan fees are fair or quietly draining your bank account. 5. Beware of the Transparency Trap Why statements rarely show the true expense and how the industry profits from the confusion 6. Proven Strategies to Lower the Fees From negotiating employer-level billing to exploring self-directed brokerage accounts. Listener Takeaways: If you’ve never seen a bill for your 401k, that doesn’t mean it’s free—the fees are just hidden. Even “small” percentages in fees can compound into massive retirement losses over time. Physicians are often subsidizing their staff’s 401k costs without realizing it. Shifting fees to the employer level creates more fairness and bigger savings potential. You have the tools to uncover and reduce your 401k fees—knowledge equals real money saved. Resources Mentioned: Chatgpt Department of Labor’s www.efast.dol.gov FreeERISA Connect with Us: Host: Dr. Disha Spath, The Frugal Physician Guest: Paul Sippel, 401k Forensic Consultant
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Ep108: Direct Primary Care: Dream Job or Disaster? Lessons from Burnout to Building a Thriving DPC Practice with Monica McKittrick
Is burnout making you question your future in medicine? You’re not alone. For many physicians, the pressures of traditional healthcare lead to stress, exhaustion, and a loss of purpose. But what if there was another way? In this powerful episode of The Finding Financial Freedom Podcast, host Dr. Disha Spath sits down with Monica McKitterick, a physician who walked away from burnout and built a thriving Direct Primary Care (DPC) practice. Monica opens up about the real challenges and rewards of DPC—what it takes to start from scratch, how to set boundaries without sacrificing patient care, and the financial strategies that make this model sustainable. Whether you’re curious if DPC could be your dream job, or you’re preparing to make the leap yourself, this episode is packed with practical insights, cautionary tales, and inspiring takeaways. Key Topics Covered: 1. Is DPC a dream job or a disaster? Monica shares the truth about life as a DPC provider, from freedom to challenges. 2. The Leap from Traditional Healthcare to DPC Why she left a broken system for a model that prioritizes patients. 3. Financial Prep for First-Time DPC Physicians Smart steps to take before transitioning 4. Traits of a Successful DPC Provider The personality strengths (and pitfalls) that determine long-term success. 5. Building Boundaries Without Breaking Your Practice How Monica protects her time while keeping patients happy 6. Hiring on a Budget Tips for growing your team without overwhelming overhead. 7. Marketing Your DPC Practice How to attract patients while staying true to your values. Listener Takeaways: Learn how to recover from burnout and rebuild a fulfilling medical career. Discover what it really takes to start a DPC practice from scratch. Get practical tips on financial planning, hiring, and marketing for your DPC clinic. Find out if DPC is the right path for you—or if it might feel like a disaster. Resources Mentioned: DPC Dream Job or Total Disaster by Monica McKitterick Want to learn more about DPC? Check out: thedpcformula.com OnlineJobs.ph Connect with Us: Host: Dr. Disha Spath, The Frugal Physician Guest: Monica McKitterick, DPC Formula
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Ep107: Maximize Your HSA: How Smart Health Plan Choices & Price Transparency Can Boost Retirement Savings
Welcome back to the Finding Financial Freedom Podcast with Dr. Disha Spath. Today, we’re joined by Carl Hall CFA, a wealth advisor at CapTrust who helps individuals and families manage their financial lives and achieve their unique goals. CapTrust specializes in delivering financial planning, portfolio management, and investment advice—helping clients navigate complex decisions with confidence. In this episode, Carl dives into the often-overlooked connection between healthcare decisions, price transparency, and retirement planning. From choosing the right health plan during open enrollment to understanding how HSA’s can strengthen your retirement security, Carl breaks down how your medical choices today can significantly impact your financial freedom tomorrow. Key Topics Covered: 1. Making Smart Open Enrollment Decisions Why many people miss out on the optimal health plan and how to avoid common mistakes. 2. Understanding Health Plan Costs The real impact of premiums, deductibles, and co-insurance on your finances. 3. Affording Healthcare in Retirement Strategies to prepare for medical costs later in life. 4. The Shoeboxing Approach A practical method for tracking healthcare expenses. 5. FSA vs. HSA The key differences and why HSAs can be a powerful retirement tool. 6. Changes in the DPC Ecosystem What’s new and how it affects both patients and providers. 7. Healthcare Price Transparency & Retirement Security How knowing the cost of care can protect your long-term finances. 8. Aligning Provider & Patient Interests Why DPC providers should have the same goals as their patients. Listener Takeaways: How your healthcare plan choice can directly impact your retirement savings. Why HSAs are a game-changer for long-term financial health. The value of price transparency in protecting your future wealth. How to align healthcare decisions with your financial freedom goals. Resources Mentioned: CapTrust Price Transparency Tools Connect with Us: Host: Dr. Disha Spath, The Frugal Physician Guest: Carl Hall CFA, Wealth Adviser at CapTrust
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Ep106: That One Big Beautiful Bill (OBBB): Taxes, Loans, and DPC Eligibility
In this episode, Dr. Disha Spath is joined by his husband Josh Spath to break down the sweeping legislation dubbed “The Big Beautiful Bill,” passed on July 4th—and what it could mean for your medical practice, finances, and future. From Medicaid and CHIP cuts to student loan shifts and personal tax changes, Josh and Disha unpack the potential ripple effects on physicians, patients, and the healthcare system as a whole. If you're a medical professional trying to stay ahead of policy changes and protect your financial well-being, this one’s for you. Key Topics Covered: 1. The Big Beautiful Bill: Overview & Impact How this newly passed bill could reshape the healthcare and financial landscape. 2. Medicaid & CHIP Cuts: Who’s Most Affected? The real-world impact on low-income families, children, and legal immigrants. 3. What the Bill Means for Doctors Coverage changes, patient eligibility, and why physicians should pay attention. 4. The Silver Lining: Opportunities in Chaos What benefits or reform might come out of the bill's implementation? 5. ACA Health Plan Categories A breakdown of Bronze, Silver, and Platinum tiers and how they fit into evolving patient care models. 6. Student Loans: What’s Next? Navigating the Repayment Assistance Plan vs. the Standard Repayment Plan. 7. Your Taxes Might Shift Too What you need to know about potential changes in personal taxes. Listener Takeaways: How upcoming Medicaid and CHIP changes may affect your practice. What legal immigrants stand to lose—and why it matters to all of us. How DPC memberships may become more relevant in a post-Bill landscape. What to expect in student loan repayment and how to plan for it. Why staying informed on healthcare policy is critical for your financial freedom. Connect with Us: Host: Dr. Disha Spath and Josh Spath, The Frugal Physician This episode is brought to you by: Earned Wealth: Earned's unique Doctor Wealth Playbook includes tax planning, investing, insurance, career advisory, and more. It’s a holistic approach from advisors who get the financial pressures of your profession. And for a limited time, Frugal Physician listeners can visit Earned.com/Frugal for exclusive access to this comprehensive planning at a discounted rate.
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Ep105: The Mindset of the Entrepreneurial Physician with Dr. Ryan Smolarz
Welcome back to the Finding Financial Freedom Podcast with Dr. Disha Spath. Today’s guest is Dr. Joseph Ryan Smolarz, M.D., M.B.A.—a board-certified surgeon turned social entrepreneur with a powerful story of reinvention. In this episode, Dr. Ryan shares his candid financial journey, from the operating room to business school, and how embracing entrepreneurship led him to a more fulfilling and financially secure life. He unpacks the physician mindset shift that helped him navigate early mistakes, the surprisingly simple logic behind self-storage investing, and how his net worth transformed through calculated risk-taking and education. Key Topics Covered: 1. From Medicine to Money Mastery How Dr. Ryan’s physician journey ignited his interest in financial literacy. 2. Why Self-Storage Stands Out in Real Estate Breaking down the complexity of commercial real estate—and why self-storage is the simplest entry point. 3. Learning Personal Finance from Scratch How Dr. Ryan went from financially overwhelmed to confident and capable. 4. How Dr. Ryan Dealt with His Transition from Being a Physician to Entrepreneurship The reactions he received from fellow physicians when he chose the entrepreneurial route. 5. Tracking the Financial Transformation How his net worth shifted as he embraced entrepreneurship, business school, and smart investing. Listener Takeaways: Why commercial real estate—especially self-storage—might be worth exploring How to start your financial education, no matter where you’re at What to expect when you pivot from clinical work to entrepreneurship Real talk on the personal and financial growth that follows bold decisions Resources Mentioned: The Medicine and Money Show by Dr. Ryan Smolarz Connect with Us: Host: Dr. Disha Spath, The Frugal Physician Guest: Dr. Joseph Ryan Smolarz, M.D., M.B.A. This episode is brought to you by: Earned Wealth: Earned's unique Doctor Wealth Playbook includes tax planning, investing, insurance, career advisory, and more. It’s a holistic approach from advisors who get the financial pressures of your profession. And for a limited time, Frugal Physician listeners can visit Earned.com/Frugal for exclusive access to this comprehensive planning at a discounted rate.
About Finding Financial Freedom with The Frugal Physician - Finance, Wellness, Budget, Student Loans, Wealth, Doctor, Fitness, Money
Financial Freedom and Peace of Mind. For all of us.
A podcast by The Frugal Physician for healthcare professionals looking to get their financial house in order and design their ideal lives.
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