#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
#133 Dependent Care FSA: Time Suck or Tax Saver for Doctors? [not-audio_url] [/not-audio_url]

Duration: 21:26
There are a thousand opinions out there on how to raise kids, but the one thing everyone can agree on is that raising kids is expensive. Luckily, there’s a way that doctors like you can save on taxes and use pretax dolla…
#132 Should Physicians Own AI Stock? [not-audio_url] [/not-audio_url]

Duration: 31:58
Before Amazon was Amazon, some people took a huge risk and bought stock in the company. Luckily, that risk paid off for them! Now, history is repeating itself with some AI stocks where they could be the next Amazon, or t…
#129 Will a Summer Splurge Spoil Physicians' Savings Plans? [not-audio_url] [/not-audio_url]

Duration: 35:42
Summer means vacations, and vacations can lead to splurges. While following a plan is important, the occasional splurge is inevitable, even for the pros. Listen in as Nate Reineke, Chelsea Jones, and Kyle Hoelzle reveal…
#126 One (More) Big Beautiful Episode with Ken Eremita, CPA [not-audio_url] [/not-audio_url]

Duration: 30:00
The One Big Beautiful Bill remains long and confusing. Some people think that the new tax laws are barking mad, while others are wagging their tails with delight. Listen in as Ben and Nate are joined by Ken Eremita, CPA…