MtoM #107 - Cardiologist Becomes a Millionaire
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 27 February 2023
⏱️ 19 minutes
🧾️ Download transcript
Summary
This cardiologist became a millionaire just 3 1/2 years out of residency. He shares with us his tips for how he achieved this milestone - live on less than you make, get rid of debt, and invest the rest. He said that managing your finances well in your early attending years can more than compensate for any financial mistakes made through the training years. Want to become a millionaire? Learn how to here: https://www.whitecoatinvestor.com/everyone-a-millionaire/
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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Transcript
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| 0:00.0 | This is the Whitecode Investor Podcast, milestones to millionaire, celebrating stories of success |
| 0:05.6 | along the journey to financial freedom. |
| 0:12.7 | Hello and welcome back to the milestones to millionaire podcast. This is your host Dr. |
| 0:17.3 | Dishasbap. Today's episode is number 107. Cardiologist becomes a millionaire and he does it in |
| 0:23.6 | just three and a half years. I can't wait to hear this story. But first, this episode is sponsored by |
| 0:30.1 | MLG Capital. Step away from the volatility of the markets and put your money back to work with |
| 0:35.4 | MLG Capital series of private real estate investment funds. With over 35 years in the real estate |
| 0:40.7 | industry, MLG Capital has the experience to provide investors with substantial returns and the |
| 0:46.1 | track record to back it up. More than doubling every dollar invested through multiple investment |
| 0:51.6 | cycles. Their series of private investment funds target an 11 to 15% rate of return net to |
| 0:57.0 | investors through tax-efficient quarterly distributions. The fund structure prioritizes generous |
| 1:02.8 | returns to investors first before MLG can share in any profits, demonstrating their culture of |
| 1:08.8 | absolute integrity. Experience the peace of mind that comes with investing in diversified private |
| 1:14.1 | real estate with MLG Capital. Learn more about investing by visiting www.MLG Capital.com. |
| 1:21.5 | slash WCI. All right, we have a very exciting guest today who has chosen to remain anonymous. |
| 1:28.4 | Hello and welcome. Hi. How are you today? I'm doing good. All right, we are here to celebrate |
| 1:36.4 | you becoming a millionaire today. How does that feel? It feels good. So tell us, what is your |
| 1:43.5 | profession and how far are you out of school? I'm a cardiologist and I'm three and a half years |
| 1:49.2 | out of my fellowship. Awesome. And what part of the country do you live in? In midwest. |
| 1:55.2 | Okay. All right. And so you're three and a half years out of fellowship and you're making your |
| 2:02.1 | attending income. Can you tell us a little bit about your total household income and a rough breakdown |
| 2:07.7 | between the spouses? So when I started my job, it was 460K, 400 from my end and 60K from my spouses. |
... |
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