MtoM #110 - New York Physician Pays Off Student Loans
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 20 March 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
This New York City doc paid off $375,000 in only five years. This is a dual physician couple that wanted to get rid of both of their loans as quickly as possible. He shares that after training he knew very little about finances but knew getting rid of loans was a top priority. This doc shows us that you can live in a high cost of living area and still pay off loans, save for retirement, buy a house and live the life you want. His tips? Have a plan and stick to it, don't explode your lifestyle and automate as much of your finances as you can. He says you can have anything you want, you just can't have everything you want. Want to avoid lifestyle creep? Read this post: https://www.whitecoatinvestor.com/how-to-avoid-the-traps-of-lifestyle-creep/
Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted agents who are experienced with working with the specific needs of medical professionals and who have your best interest at heart. If you have questions about insurance and what kind of policies would be the best fit for you, check out our insurance recommended list at https://www.whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. You can do this and The White Coat Investor can help.
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 | This is a milestones to millionaire podcast number 110. New York Physician pays off student loans. |
| 0:18.6 | This is the podcast where we feature you, you and your accomplishments, you and your milestones, |
| 0:25.1 | and we use what you've done to inspire your peers and colleagues and your trainees |
| 0:31.8 | to do the same so that we can all lift each other and be financially successful. |
| 0:36.8 | If you'd like to be on this podcast, we'd like to have you. You sign up at whitecodeinvestor.com |
| 0:43.6 | slash milestones. There's a little application to fill out, but this is not exactly a high-stress |
| 0:49.2 | situation. We don't even record these interviews live. So if you would like to share what you've |
| 0:53.6 | accomplished, we would like to do so as well. Please apply. Are you ready to start earning passive |
| 0:59.9 | income while diversifying your investment portfolio and check out the peak group. Through the peak |
| 1:04.4 | housing rate, they're helping WCI members build well through passive real estate investment |
| 1:09.0 | and lowering the barrier to entry with a $25,000 minimum investment. Their team is ready to help |
| 1:13.8 | you guide you on your investment journey. Ready to learn more? Go to whitecodeinvestor.com slash peak |
| 1:20.2 | that's PEAK. Another great thing I like about that particular investment is you don't have to file |
| 1:26.4 | in multiple states. A lot of real estate investments, you know, when they pay you on a K-1, you end up |
| 1:32.4 | having to file in two, three, five, ten different states because of that. Not with this one because |
| 1:38.0 | its structure is a reach. You just get it $10.99 in January and that's all you got to deal with. |
| 1:43.3 | All right, we've got a great guest on the podcast today. Let's bring him on. |
| 1:47.6 | Our guest today on the milestones to millionaire podcast is Vinny. Welcome to the podcast. |
| 1:52.9 | Thank you. Thanks so much for having me. Excited to be here. |
| 1:55.4 | All right. I just got to know you for a few minutes before the before we started recording, |
... |
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