M
Mark Soth
ICU physician and Associate Professor at McMaster University who writes The Loonie Doctor blog on physician finance and co-hosts The Money Scope Podcast.
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Oct 2, 2026
Ep #126: The Journey to Financial Independence - with the Loonie Doctor, Dr. Mark Soth
7:07
30:22

Yatin ChadhaHOST
So maybe I'll phrase this question as for you, what is your definition of time freedom and why is this so important to you?
M
7:16Mark SothGUEST
I think that's actually the core reason why money and paying attention to our finances is important.
M
7:22Mark SothGUEST
Understanding how money works and some basic management allows you to make use of it optimally for your career and your life to make those things better.
M
7:35Mark SothGUEST
We give up some of our time and effort to make money, and we use money to buy that from others in the form of goods and services.
M
7:43Mark SothGUEST
So the idea behind financial independence is really to have progressively more freedom to choose how you spend your time.
M
7:49Mark SothGUEST
If your financial needs are provided by your portfolio rather than work, you can choose what to do.
22 MINS LATER

Yatin ChadhaHOST
So, Mark, I know you've been thinking the same thoughts and living a similar journey even longer than I have, but I just love to know how you think about all this.
E193 - Money, Medicine, and Designing a “Good Life” Mark Soth on Achieving Physician Financial Independence
A
32:38Ameer FarooqHOST
Do you think it's, in general it's worthwhile, or what are the important caveats to think about in terms of incorporation?
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32:44Mark SothGUEST
I think it's important for you to understand when it's useful and when it's not, because we often rely on accountants to help us with this decision.
M
32:52Mark SothGUEST
And when like f- this is an example of how things were definitely easier when I entered, went to practice.
M
32:59Mark SothGUEST
Incorporation then had a lot more benefits than it does now, and those have been really kind of ratcheted back, uh, with various legislative changes against corporations.
M
33:12Mark SothGUEST
There are some accountants who may think it's a slam dunk based on old information.
13 MINS LATER