MtoM #116 - ER Doc Builds Wealth and Pays Off $344,000 in 2 1/2 Years
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 1 May 2023
⏱️ 23 minutes
🧾️ Download transcript
Summary
This ER Doc has worked hard since finishing residency and has not only paid off $344,000 in 2 1/2 years,. but he also managed to build wealth and buy a new truck at the same time. This doc says paying off his loans made him feel like he was finally and officially done with med school. How did he do it? Live like a resident and work like a resident. They are now using those big student loan payments to build a nest egg and save for a down payment. Need help figuring out what to do with your student loans? Check out https://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. |
| 0:12.7 | This is milestones to millionaire podcast number 116. |
| 0:15.6 | Emergency physician pays off student loans. |
| 0:18.8 | Right now, qualifying medical professionals can refinance the private student loans with |
| 0:22.2 | an up to 1% rate discount. Still a resident? The so-pai student loan refinancing you could pay just |
| 0:27.0 | $100 a month during your residency. And as a so-pai member, you'll have access to a powerful set of |
| 0:31.7 | tools, education, even financial planners to help you not only save money, |
| 0:35.2 | but help you get on the road to financial freedom. Check out their payment plans and interest rates |
| 0:39.2 | at so-pai.com slash Whitecode Investor. So-pai student loans are originated by so-pai bank and a |
| 0:44.6 | member FDIC. Additional terms and conditions may apply. NMLS 696891. |
| 0:50.7 | All right, we've got a great interview today. I'm not just saying that because he's an emergency |
| 0:55.0 | physician, but he's accomplished two milestones, which are very impressive. I'm not going to say |
| 0:59.6 | he did everything right, but he did enough right that he's doing really, really well together with |
| 1:05.2 | his spouse, who's now a stay-at-home mom. We'll soon be mom. By the time you hear this episode, |
| 1:10.4 | she'll be a mom. And it's a great interview. But stick around afterward. I want to tell you a |
| 1:15.6 | little bit about mortgages afterward. Our guest today on the milestones podcast is Alex. Welcome to |
| 1:22.3 | the podcast Alex. All right, thanks for having me Jim. Tell us what you do for a living where you're at. |
| 1:27.9 | I'm an emergency physician in the upper Midwest. Okay, and tell us we're celebrating two |
| 1:34.2 | milestones today. Tell us what they are. I paid off my student loans, which is about $344,000 |
| 1:41.0 | and during that time period also accumulated about $300,000 in that work. Awesome. So how far are |
| 1:47.7 | you out of residency? Graduated residency in 2020. So coming up on three years. Not very far out |
... |
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