How this doc helped a single mother of 3 pay off over $500k of student loan debt #271

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

🗓️ 7 March 2022

⏱️ 37 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! Knowing that you have student loan debt versus paying them off are two different things. Nii remembers having mad doubts about our payoff plan and the timing of being able to complete this task. In this episode, Nii & Renee briefly discuss what it’s like to have someone to support you during this time. We also have Dr. Caroline Clerisme, a Dentist and found of Doctors out of Debt, on this show. S...

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 out
0:22.3	set for life insurance.com. Hey, docs. Are you looking to learn how to become a physician leader?
0:29.6	Then physician CEO is for you. Physician CEO is an accelerated business immersion program
0:35.5	designed for physicians and developed by MBA faculty
0:39.0	from the Kellogg School of Management at Northwestern University. So learn more at www.
0:45.0	www.f physician-co.com forward slash DOTB. All right, Renee, so listen, I always look at our
0:53.4	financial life before October of 2014 and then what happened afterwards.
0:59.9	And the reason I bring it up is that is the date that we decide, or at least that's the month that we decided that we were going to jump and tackle our over $662,000 of student loan debt.
1:10.8	That's when we decided that we're going to devote at least anywhere between 60 to 70%
1:15.2	of our income intentionally to pay off debt.
1:19.7	We were able to pay off our debt really quick.
1:22.2	We thought it was going to take about five years.
1:24.0	We ended up doing it in three years.
1:26.8	And rather than talk about the angle, which was
1:31.0	paying it all off, do you remember any time either before that point or during that point
1:36.9	where you're like, yeah, we're not going to make this? I don't even think that I really thought
1:42.3	about it. Really? You never got weak or anything like that.
1:46.0	You mean...
	...

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