MtoM #115 - Doc Pays Off Student Loans in 30 Months
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 24 April 2023
⏱️ 19 minutes
🧾️ Download transcript
Summary
This doc paid off his student loans in only 30 months. He said the freedom of being out of debt is allowing him and his family create a better work life balance. His biggest piece of advice is to have a plan and stick to it. By sticking to his plan and working hard he was able to pay this debt off much faster than he had planned. Need help making a plan to pay off your student loans? Check out https://www.studentloanadvice.com
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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. |
| 0:12.8 | Smile Stones to millionaire podcast number 115. Mergency Doc pays off student loans in less than three |
| 0:18.0 | years. This episode is sponsored by InCrow. Their five to ten minute microsurvey's use a mobile |
| 0:23.2 | first approach, giving physicians an easy way to participate in paid research and diverse healthcare |
| 0:27.5 | topics. Medical research designed for physician schedules. Join now to be master studies that fit |
| 0:32.8 | your areas of specialization at whitecodeinvestor.com slash in crowd. All right, let's bring a guest on |
| 0:40.2 | here. We have a great guest today who's going to talk about his most recent milestone. Let's bring him on. |
| 0:46.9 | Our guest on the milestones to millionaire podcast today as us are. Welcome to the podcast. |
| 0:51.0 | Thanks for having me. All right, you have accomplished an impressive milestone |
| 0:56.2 | in an impressive amount of time. So congratulations to you and thank you so much for coming on here |
| 1:01.6 | to inspire others to do the same. Tell us what you've done. So I graduated residency in 2020 |
| 1:08.4 | and had a whole lot of debt at that time, about $250,000 in debt. And I just finished paying that off |
| 1:14.8 | at the beginning of March of 2023. Awesome. And I've got the exact amount here, 257,728,07. |
| 1:25.2 | That's what you had the day you walked out of residency? Actually, that's the amount that was on my |
| 1:29.7 | refinance at the end of 2020. So that's why I was able to get the exact number. Very cool. |
| 1:34.8 | Very cool. So it was probably actually maybe even a little more than that. All right, 30 months, |
| 1:39.4 | you knocked that out. That's pretty cool. What was your average income over that 30 months? |
| 1:44.0 | It's been pretty variable. So with COVID, you know, we didn't work very much. And so |
| 1:50.9 | my first year income was probably right around 250. And then last year, I guess the last two years, |
| 1:57.9 | it's been closer to about 300,000, I think was last year. And then I've got my wife is a |
| 2:03.7 | radiology nurse and she just went part-time. We had a kid and so she's bringing in about 20,000, |
... |
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