The Grow Your Wealthy Mindset Podcast

EXPLORE

Society & Culture

© 2024 PodJoint

https://is1-ssl.mzstatic.com/image/thumb/Podcasts221/v4/53/9d/2e/539d2e2a-4d40-270c-8984-2fdd3983eff3/mza_7796651354034385922.jpg/600x600bb.jpg

The Grow Your Wealthy Mindset Podcast

Elisa Chiang

181 episodes

3 days ago

Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...

Show more...

All content for The Grow Your Wealthy Mindset Podcast is the property of Elisa Chiang and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...

Show more...

Episodes (20/181)

The Grow Your Wealthy Mindset Podcast

Episode 180: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value

Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...

1 week ago

14 minutes

The Grow Your Wealthy Mindset Podcast

Episode 179: Spend with Intention and Discerning a Need from a Want

This week, we’re diving deeper into spending—what truly counts as a need versus a want, and how to make sure your spending reflects your values and supports your financial goals. Even high-income earners can struggle to save when lifestyle inflation creeps in. In this episode, we’ll explore how lifestyle inflation happens, how to recognize it, and how to shift toward mindful spending that brings lasting fulfillment. You’ll learn: · How to tell the difference be...

2 weeks ago

20 minutes

The Grow Your Wealthy Mindset Podcast

Episode 178: A Practical Guide to Dividing Your Income: Needs, Wants, and Savings

Have you ever wondered how much you should be spending on housing, groceries, cars, or fun? This episode breaks down how to create a realistic and values-based spending plan that fits your lifestyle and financial goals. Whether you’re creating your first spending plan or re-evaluating where your money goes each month, this episode will help you understand how to balance your spending between needs, wants, and savings—and how to adjust that framework to fit your own circumstances. You’ll learn...

3 weeks ago

19 minutes

The Grow Your Wealthy Mindset Podcast

Episode 177: The How of Happiness Committing to Your Goals

As physicians, we’re no strangers to long-term goals. Many of us spent years—if not decades—pursuing the dream of becoming a doctor. That kind of deep, meaningful striving can bring great fulfillment—but what happens when we achieve that goal and still feel like something’s missing? In this episode, we explore how goals influence our happiness, why the type of goals we pursue matters, and how to realign our ambitions to create more joy, purpose, and emotional well-being. Whether you're feelin...

4 weeks ago

12 minutes

The Grow Your Wealthy Mindset Podcast

Episode 176: Changes Coming to Catch-up Contributions to Retirement Accounts

Are you age 50 or older and contributing extra to your 401(k), 403(b), or 457(b)? Big changes are coming to catch-up contributions that could affect your retirement planning—especially if you’re a high-income earner. In this episode of The Grow Your Wealthy Mindset, I break down the IRS’s final regulations on catch-up contributions under the SECURE 2.0 Act and what they mean for you starting in 2026. We’ll cover: Who is considered a “high-income earner” and how that definition is determinedWh...

1 month ago

11 minutes

The Grow Your Wealthy Mindset Podcast

Episode 175: Redesigning Work to Fit Your Life

As physicians, most of us start out following a traditional path: find a job posting, talk to recruiters, and take whatever positions are available in the places we want to live. But what if we thought differently about our careers? What if we created work arrangements that actually fit our lives, values, and goals? In this episode of The Grow Your Wealthy Mindset, I share my own story of exploring non-traditional work arrangements — from going part-time, to traveling for work, to negotiating...

1 month ago

17 minutes

The Grow Your Wealthy Mindset Podcast

Episode 174: Donor-Advised Funds: A Smart Way to Give to Charity?

In this episode of The Grow Your Wealthy Mindset, we dive into donor-advised funds (DAFs)—a powerful but often overlooked tool for charitable giving. You’ll learn: What a donor-advised fund is and how it worksWhy donating appreciated assets (like stock) may be smarter than giving cashThe benefits and downsides of using a DAFHow Fidelity, Schwab, and Vanguard’s donor-advised funds compareWhen a DAF might make sense in your own financial or estate planningWhether you’re already a generous giver...

1 month ago

20 minutes

The Grow Your Wealthy Mindset Podcast

Episode 173: APR vs APY Explained: How Compounding Affects Interest

When it comes to interest rates, not all percentages are created equal. In this episode, we break down the difference between APR (Annual Percentage Rate) and APY (Annual Percentage Yield)—two terms that may sound similar but can drastically affect how much you pay (or earn) over time. We’ll explore: Why lenders advertise APR while banks flaunt APYHow compounding frequency changes your bottom lineReal examples from high-yield savings accounts and credit cardsHow daily vs monthly compou...

1 month ago

11 minutes

The Grow Your Wealthy Mindset Podcast

Episode 172: Savoring Life's Joys

Do you ever feel like you’re constantly chasing the next milestone, rarely stopping to enjoy the present moment? In this episode of The Grow Your Wealthy Mindset, we explore the powerful practice of savoring—intentionally appreciating positive experiences from the past, present, and future—and how it directly contributes to greater happiness and well-being. This episode is the 9th in the series exploring concepts from The How of Happiness by Dr. Sonja Lubormosky. What You’ll...

2 months ago

13 minutes

The Grow Your Wealthy Mindset Podcast

Episode 171: Our Two Week Irish Adventure: What We Did, What We Spent - Part 2

What does a two–week trip to Ireland really cost—and how do you plan for it without blowing your budget? 🌍✈️ In this two episode series, I take you behind the scenes of our recent two–week adventure across Ireland. From castle stays and scenic drives to cozy B&Bs and once–in–a–lifetime experiences (like a hawk walk at Ashford Castle), I share exactly how I planned the trip, the financial choices we made, and a detailed breakdown of what we spent. Here’s what you’ll hear in this epi...

2 months ago

25 minutes

The Grow Your Wealthy Mindset Podcast

Episode 170: Our Two Week Irish Adventure: What We Did, What We Spent - Part 1

What does a two–week trip to Ireland really cost—and how do you plan for it without blowing your budget? 🌍✈️ In this two episode series, I take you behind the scenes of our recent two–week adventure across Ireland. From castle stays and scenic drives to cozy B&Bs and once–in–a–lifetime experiences (like a hawk walk at Ashford Castle), I share exactly how I planned the trip, the financial choices we made, and a detailed breakdown of what we spent. Here’s what you’ll hear in this epi...

2 months ago

38 minutes

The Grow Your Wealthy Mindset Podcast

Episode 169: “I Love You” Insurance: Protecting Your Loved Ones with Term Life

Life insurance isn’t something we buy for ourselves—it’s an act of love and protection for those who depend on us. This episode answers a listener’s question: How much life insurance is recommended? This episode dives deeper into how to determine the right amount of coverage based on your personal circumstances—whether you’re single, married, or raising a family. Dr. Elisa Chiang shares real-world examples and walks through different strategies for determining how much term life insurance a p...

2 months ago

18 minutes

The Grow Your Wealthy Mindset Podcast

Episode 168: The How of Happiness Increasing Flow Experiences

In this episode, we explore a powerful and fun way to boost your happiness—by living in the present through flow and savoring. This is the 8th episode in the series following Dr. Sonja Lubomirski’s book, The How of Happiness. You’ll learn what “flow” really means, how to create it in your daily life, and why it’s one of the most effective ways to feel more fulfilled, engaged, and joyful—whether at work, at home, or in your free time. Drawing from the groundbreaking research of psychol...

3 months ago

11 minutes

The Grow Your Wealthy Mindset Podcast

Episode 167: Options Trading 101: An Introduction to Derivatives

In this episode of The Grow Your Wealthy Mindset, we demystify the world of options trading—a topic that often feels complex and intimidating, especially for busy professionals like physicians. Whether you’ve heard of puts, calls, or covered calls and want to finally understand what they mean, or you're simply curious about how options can fit into a diversified investment strategy, this episode is for you. Tune in to learn: What options are and how they work The difference between cal...

3 months ago

16 minutes

The Grow Your Wealthy Mindset Podcast

Episode 166: Why Dave Ramsey’s Advice Doesn’t Work for Physicians

Dave Ramsey has helped millions of people take control of their finances—but does his advice make sense for physicians? In this episode of The Grow Your Wealthy Mindset, I break down where Ramsey’s principles work and where they fall short for doctors. With our unique financial journey—years of training, six-figure student loan debt, and sudden income jumps—physicians need a more nuanced approach than blanket debt-aversion. From student loans and investing, to credit cards and retirement plan...

3 months ago

14 minutes

The Grow Your Wealthy Mindset Podcast

Episode 165: How the One Big Beautiful Bill Act Affects Physicians

In this timely episode, Dr. Elisa Chiang breaks down the One Big Beautiful Bill Act, signed into law on July 4, 2025, and what it means for physicians. With over 800 pages of legislation, this sweeping law has far-reaching implications for taxes, healthcare funding, student loans, and energy incentives. Dr. Chiang highlights the key takeaways—both positive and negative—for physicians, medical students, practice owners, and anyone working in healthcare. What You'll Learn: How the bill permanen...

3 months ago

11 minutes

The Grow Your Wealthy Mindset Podcast

Episode 164: The How of Happiness Learning to Forgive

In this episode of The Grow Your Wealthy Mindset, we explore the 7th happiness activity from The How of Happiness by Sonja Lyubomirsky: Learning to Forgive. Forgiveness isn't about condoning hurtful behavior or reconciling relationships—it's about freeing yourself from anger, resentment, and emotional weight. You'll learn what forgiveness truly means, why it's essential for your mental and emotional health, and practical strategies you can start using today to begin your own forgiveness journ...

4 months ago

8 minutes

The Grow Your Wealthy Mindset Podcast

Episode 163: Maximize Tax Savings with a Dependent Care FSA

Did you know you could get a 22–37% discount on your childcare or dependent care expenses just by using pre-tax dollars? In today’s episode, I dive into the often-overlooked but highly valuable Dependent Care Flexible Spending Account (FSA). While Health FSAs and HSAs get plenty of attention, Dependent Care FSAs can offer significant tax advantages—especially for dual-income families or single parents. I break down who qualifies, what kinds of care are eligible, how much you can contribute, a...

4 months ago

15 minutes

The Grow Your Wealthy Mindset Podcast

Episode 162: Investing for Cashflow with Debt and Lending Funds

Looking for a way to grow your income beyond your clinical job? In this episode, we’re diving into debt funds—an often overlooked but powerful tool for generating cash flow. Whether you're curious about how they work, the risks involved, or how to get started, this episode breaks it all down in simple terms. If you’ve ever wondered how you can make your money work harder for you—without swinging for the fences—debt funds might be the steady engine your portfolio needs. In this episode,...

4 months ago

18 minutes

The Grow Your Wealthy Mindset Podcast

Episode 161: Passive Income or Long-Term Growth? Investing for Cashflow vs. Appreciation

In this episode of The Grow Your Wealthy Mindset Podcast, we're diving into two primary strategies investors use to grow their wealth: investing for appreciation and investing for cashflow. Whether you're aiming to build long-term wealth or looking to create more immediate income from your investments, understanding the difference between these two approaches is essential to aligning your strategy with your financial goals. You'll learn: The difference between equity appreciation and investme...

4 months ago

12 minutes