Mo Money, Mo Problems

<p>Do you remember the late Notorious B.I.G.&rsquo;s song, Mo Money Mo Problems? Physicians can probably relate to it. On the flip side, some people believe that having more money makes you benefit from fewer problems.&nbsp;&nbsp;&nbsp;&nbsp;</p> <p>In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Jeff Wenger, a Certified Financial Planner (CFP&reg;), about how making more money often leads to more problems.</p> <h3><strong>Topics Discussed:</strong></h3> <ul> <li>Does money make you happy? Depends on how you define problems</li> <li>$1 or $1 Million: More money makes simple things complex choices, decisions</li> <li>More assets means more checking, savings, credit card accounts go unclaimed</li> <li>Temptation: Easy to add something, but more painful to take something away</li> <li>What happens to your money? Be responsible and organized; not out of control</li> <li>Perceived Target: Doctors are rich, even residents with $400,000 in student loans</li> <li>Moral of the Story: Use money to improve and have less problems, happier life</li> <li>Slippery Slopes: Choose wisely between buying nice things or being generous</li> <li>Time: More money can buy time to prioritize and outsource tasks, responsibilities</li> </ul> <h3><strong>Links:</strong></h3> <p><a href="https://www.linkedin.com/in/jeffrey-wenger">Jeff Wenger on LinkedIn</a></p> <p><a href="https://wrennefinancial.com/">Wrenne Financial Planning</a></p> <p><a href="http://financeforphysicians.co">Finance For Physicians</a></p>