Eric Miller on Practice Wealth, Financial Habits, and Financial Freedom

On the Underdog Physician podcast, host interviews Eric Miller, co-founder and chief financial advisor of Econologics Financial Advisors, LLC, who has helped more than 50 healthcare practice owners transition their businesses and oversees over $250 million in assets. Miller shares why he started a financial planning firm in 2008 to serve healthcare professionals and argues financial outcomes are mostly an “inside job” driven by habits and basic systems. He highlights key blind spots like not deciding where money goes before it arrives, and explains his philosophy of treating the household as a “parent company” that manages all assets, with the practice often being the biggest investment. He outlines a three-step framework—clean up, set up, grow up—discusses building multiple income streams sequentially, warns against relying solely on qualified retirement plans, and advises setting aside a fixed percentage for investments. He covers partnership/team considerations, practice exit readiness (emotional and financial), what drives practice value, private equity trends, delegating to scale, and directs listeners to a free financial assessment at econologics.com.

00:00 Welcome and Guest Intro

00:44 Eric’s 2008 Origin Story

01:55 Money Mindset and Habits

02:48 Physician Money Blind Spots

04:31 Household as Parent Company

06:44 Clean Up Set Up Grow Up

08:08 Building Multiple Income Streams

09:51 Beyond the 401k Playbook

11:48 Financial Beast Book Lessons

13:56 Partnerships and Team Building

15:45 Delegation and Mentorship

18:06 Practice Exit Strategy Basics

20:00 Who’s Buying Practices Now

21:41 Hot Sectors and PE Targets

22:58 Work Life Integration Today

24:20 Legacy and Industry Impact

25:30 How to Connect and Wrap Up

www.econologicsfinancialadvisors.com