#137 Should Physicians Have a Whole Life Policy?

#137 Should Physicians Have a Whole Life Policy?

Author: Nate Reineke October 15, 2025 Duration: 25:52

As a young doc, it can seem like everyone has something to sell you. Many physicians can end up with a whole life policy that they don’t actually need, and that policy can have a loan against it without you really knowing what’s happening. Nate Reineke and Chelsea Jones break down why these policies are often sold in the first place, how the loans work, and how you can get out of them. They also give some suggestions on what you can do with that money once you escape the trap. We also answer your colleagues' questions. A webinar attendee asked, “Should I make a retirement budget or use 80% of my current expenses when calculating how much I need to save?” A double doc family in West Virginia says both of us work at a University and have a plan with a mandatory 6% contribution. Is this outside the $23,500 limit in 401(k)’s (or other plans)? An emergency med doctor in Tennessee wants to know if he should set up an S-Corp instead of being a sole proprietor, and if he can pay his wife a salary for the work she does to help him. A Psychiatrist in West Virginia just relocated and has some cash leftover from the sale of their home. They want to know where the best place is to put this? Are you ready to turn worries about taxes and investing into all the money you need for college and retirement? It’s time to make a plan and get on track. To find out if we’re a match visit physicianfamily.com and click get started or, you can ask a question of your own by emailing podcast@physicianfamily.com. See marketing disclosures at physicianfamily.com/disclosures


Finding a clear path through financial planning feels uniquely challenging when your career is in medicine and your heart is at home with family. The Physician Family Finances Podcast exists in that specific, demanding space. Host Nate Reineke, alongside co-host Chelsea Jones, brings their experience as Certified Financial Planner™ professionals directly to conversations with physician parents. They understand the dual pressures of managing a practice, caring for kids, and making smart long-term decisions with your earnings. Each episode moves beyond generic advice to tackle the real questions you face, from navigating student loan strategies and investment options tailored to a physician's timeline to planning for retirement without sacrificing your family's present. This isn't about quick tips; it's about building a sustainable framework that aligns with your values and goals. Tune in for a candid, practical discussion that makes complex topics like tax laws and wealth building accessible, so you can gain confidence and clarity with your finances. The entire podcast is built on the principle that securing your future should feel like an achievable part of your life's work, not an overwhelming distraction from it.
Author: Language: English Episodes: 100

Physician Family Finances Podcast
Podcast Episodes
#169 Is Physician Workplace Insurance Enough to Protect Your Family? [not-audio_url] [/not-audio_url]

Duration: 32:35
As a busy physician mom or dad, you put everything into your practice and your kids, meaning you want to make sure you're doing the absolute right thing with the money you earn. But when it comes to safeguarding your fam…
#168 Why Your Physician Portfolio Doesn't Need to Be Busy [not-audio_url] [/not-audio_url]

Duration: 27:01
Between managing a packed clinic and a chaotic home life, the last thing any physician needs is a financial statement that looks as cluttered as a playroom floor. Nate and Kyle tackle a question from a Washington dermato…
#167 Are Physicians Itchy About High-Yield Savings Accounts? [not-audio_url] [/not-audio_url]

Duration: 26:01
It’s time to talk about the "cash itch,” that restless feeling doctors get when a healthy high-yield savings account starts to look like a missed opportunity. Nate Reineke and Chelsea Jones dive into a dilemma from a rad…
#166 Physician Mothers Need To Put On Their Oxygen Mask First [not-audio_url] [/not-audio_url]

Duration: 18:10
As we head into Mother’s Day this weekend, we reflect on everything moms do for us. In today’s world, more and more parents are supporting their children for longer. Nate Reineke looks at the question “What should my kid…
#165 Does Tax-Free Growth Beat Liquidity for Docs? [not-audio_url] [/not-audio_url]

Duration: 27:10
When you’re sitting in the 37% tax bracket, the opportunity to shield more wealth from the IRS through a Mega Backdoor Roth feels like a no-brainer. But is the promise of tax-free growth worth the price of locking your m…
#164 Extra, Extra: Hear All About Where Docs Can Keep Extra Savings [not-audio_url] [/not-audio_url]

Duration: 27:25
Building on the momentum of your high-earning years can sometimes feel like a puzzle with missing pieces. When it comes to finding a home for your extra savings, it can seem like there are a million account types, and it…