Money, Mindset, and Medicine: Unlocking Changemaking with Michael Swartz

What does it take to break free from financial stress and become a changemaker in healthcare? 

In this episode, Dr. Andrea Austin connects with Michael Swartz, a fee-only financial planner and coach who specializes in guiding physicians from residency to retirement. Drawing from his work at Schwartz Financial Planning, and his Health and Wealthness podcast, Michael offers a roadmap for physicians to navigate financial challenges and align their careers with their purpose.

They explore how the psychological weight of student loan debt can drive overwork and burnout, with Michael sharing strategies to reframe debt as an investment in future earning potential. He emphasizes the importance of a wealth-based mindset—where decisions are driven by values, not just income—and provides practical advice on balancing clinical demands with personal well-being. From empowering physicians to say “no” to toxic work environments to planning for a sustainable retirement. The conversation also covers the pitfalls of rigid financial goals, the power of coaching to shift mindsets, and the importance of surrounding yourself with supportive professionals who share your vision for change.

If you’re a physician feeling trapped by student loans, overwork, or a misaligned career, this episode provides actionable tools and inspiration to reclaim financial and personal freedom.

Together, they dive into:

• Reframing student loan debt as an investment in earning potential, not a burden
• Balancing clinical work with personal well-being to avoid burnout
• Empowering physicians to make value-driven career decisions with financial confidence
• Practical retirement planning tips for high-income professionals

If you’re a physician feeling trapped by financial pressures or seeking to align your career with your purpose, this episode offers actionable strategies to reclaim control and drive meaningful change.

About the Guest:

“I help physicians find clarity and confidence in their financial and personal lives.” – Michael Swartz

Michael Swartz is a fee-only financial planner, coach, and owner of Schwartz Financial Planning, specializing in financial planning for physicians from residency to retirement. He is the author and host of Health and Wealthness, a book and podcast dedicated to guiding physicians through financial and life transitions. With personal insight from his wife’s career as a physician assistant, Michael helps physicians navigate student loans, career transitions, and retirement planning with a focus on empowerment and well-being.

📍 Connect with Michael

Website: healthwealthness.com (http://healthwealthness.com)
Podcast: https://healthwealthness.com/podcast   
Book: Health and Wealthness: The Physician’s Guide to the Retirement Journey (https://www.amazon.com/Health-Wealthness-Physicians-Personal-Retirement/dp/B0DTGQVQ4P)

 

📚 Resources + Mentions

• 🔗 Health and Wealthness: The Physician’s Guide to the Retirement Journey by Michael Swartz (https://www.amazon.com/Health-Wealthness-Physicians-Personal-Retirement/dp/B0DTGQVQ4P)
• 🔗 Stumbling on Happiness by Daniel Gilbert (https://www.amazon.com/Stumbling-Happiness-Daniel-Gilbert/dp/1400077427)
• 🔗 The Gifts of Imperfection by Brené Brown (https://www.amazon.com/Gifts-Imperfection-Think-Supposed-Embrace/dp/159285849X)
• 🔗 Recalibrate: Group Coaching for Physicians (https://www.coachingfordoctors.net.au/programs/recalibrate-doctor-care/)

🔑 Top 3 Key Takeaways

• Reframe debt as an investment: Shift your mindset from seeing student loans as a burden to viewing them as an investment in your earning potential, reducing psychological stress and empowering long-term planning.
• Wealth is a mindset: True wealth means living aligned with your values, regardless of income, allowing you to make career decisions without financial pressure dictating your choices.
• Seek fee-only financial planners: Work with a fee-only Registered Investment Advisor (RIA) to ensure unbiased, fiduciary advice tailored to physicians’ unique financial needs.

🩺 About the Host

Dr. Andrea Austin is a board-certified emergency physician, educator, and passionate advocate for system-level change in healthcare. As the creator and host of Heartline: Changemaking in Healthcare, Dr. Austin brings curiosity, compassion, and bold honesty to conversations with leaders who are challenging the norms and reshaping medicine from the inside out.

With decades of experience in high-pressure clinical environments, Andrea has seen firsthand the cracks in the system—and the people working to repair them. Whether she’s mentoring residents, speaking on national stages, or recording with a fellow disruptor, she centers one theme: change doesn’t happen in isolation. It happens heart to heart.

💫 About the Show

Heartline: Changemaking in Healthcare isn’t just a podcast—it’s a pulse check on what’s possible.

Hosted by emergency physician and educator Dr. Andrea Aust…