256 - How not choosing student loan forgiveness gave this doctor and her husband career freedom and three kids (part 1)

Docs Outside The Box

Dr. Nii Darko

Career, Education, Doctor, Medicine, Careers, Job, Business, Health & Fitness, Finance, Investing, Premed, Black, Money, Lifestyle, Mindset

4.9 • 516 Ratings

🗓️ 3 December 2021

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

SEND US A TEXT MESSAGE!!! Let Drs. Nii & Renee know what you think about the show! Dr. Adaira Landry paid off over $200,000 of student loan debt in 3 years. She started when she was a fellow. She’s here to talk about not only the HOW of paying this debt off, but she’s also going to share the WHY. Here’s a little hint, the mountain of student loan debt was starting to have repercussions on: The type of jobs she would takeWhere she could liveThe decision on when to start having childrenWe ...

Transcript

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0:00.0	This episode is brought to you by Set for Life Insurance.
0:06.0	Listen, Docs, one of the first steps we took to pay off our student loan debt was realizing we paid way too much for our disability insurance.
0:12.9	That all changed when we found Set for Life Insurance.
0:15.6	They helped us with a customized insurance policy that met our needs and most of all budget.
0:20.5	To learn more, check
0:22.1	out set for life insurance.com. Chances are the locum doc you're signing out to is getting paid
0:33.2	33% more than you are. Throw on top of that, they get to choose when and where they want to work.
0:40.1	Look, I also got to tell you about the built-in tax advantages, medical malpractice, travel,
0:45.5	housing, all of this being taken care of.
0:48.0	So that's why for the past four years, I've practiced full-time as a Locum doctor.
0:52.5	And you can too.
0:54.0	Check out LocumStory.com to learn everything you need to know about locum tenants.
0:59.5	Again, visit locum story.com to see if a locum tenants assignment is right for you.
1:09.8	Hey, guys, this is Dr. Ney. Hey, listen, I want you guys to check out episode 254. It came out last week.
1:15.3	In that episode, we talk about why we paid off our student loans. That's $662,000 of student loan debt.
1:23.1	Why we did that in three years, as opposed to taking a longer period of time to pay it out off.
1:28.3	But it's more than just why.
1:30.0	It's the could you invest as well as pay off debt at the same time.
1:35.4	So initially we were going to pay off that debt in five years, but we did it in three years.
1:39.6	But we also get into the whole notion of, you know, saving an emergency fund for nine months, as well as
1:45.8	maxing out both of our traditional IRAs and also putting in enough of the match for a 401K.
1:53.6	So we were showing that you can do both.
	...

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