MtoM #125 - Psychiatrist Pays Off Half a Million in Loans and Becomes a Millionaire and Finance 101: The Savings Rate
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 3 July 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
This psychiatrist paid off over a half a million dollars of student debt in just over 5 years! Not only has she paid off this massive amount of loans, but bought a house and reached millionaire status. They made sacrifices while they were tackling the loans including living with family for over 3 years. This doc originally planed to go for PSLF but decided against it when a higher paying job opportunity came up. She shares that the security that came from getting out of debt made writing those big checks feel worth it. After the interview we will be talking about The Savings Rate for Finance 101.
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Transcript
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| 0:00.0 | This is the White Coat Investor Podcast, Milestones to Millionaire, |
| 0:04.2 | celebrating stories of success along the journey to financial freedom. |
| 0:13.6 | This is Milestones to Millionaire Podcast number 125. |
| 0:16.5 | Psychiatrist pays off half a million dollars in student loans and becomes a millionaire. |
| 0:21.7 | Step away from the volatility of the markets. Put your money back to work with |
| 0:25.3 | MLG Capital's series of private real estate investment funds. |
| 0:28.7 | For over 35 years in the real estate industry, MLG Capital has the experience to provide |
| 0:33.2 | investors substantial returns in the track record back it up, more than doubling every dollar |
| 0:37.6 | invested through multiple investment cycles. Their series of private investment funds target |
| 0:41.9 | an 11 to 15% rate of return net to investors through tax-efficient quarterly distributions. |
| 0:47.5 | One structure prioritizes generous returns to investors first, |
| 0:50.7 | or MLG can share in any profits demonstrating the culture of absolute integrity. |
| 0:55.7 | Experience the peace of mind that comes with investing in diversified private real estate with |
| 0:58.9 | MLG Capital. Learn more about investing by visiting www.mulgcapital.com slash wci. |
| 1:07.9 | All right, we've got a great interview today. You're really going to enjoy this. We're bringing on |
| 1:12.9 | somebody who had a lot of debt, lived in a high cost and living area, and still has become |
| 1:20.2 | very financially successful. So let's get her on the line here and we're going to chat about that. |
| 1:24.7 | But stay tuned afterward. We want to talk a little bit about a concept we call the savings rate |
| 1:30.1 | around here. Why it's important for you to actually calculate yours and how to do that. |
| 1:36.7 | Our guest today on the Milestone Simulator podcast is Christina. Welcome to the podcast. |
| 1:41.2 | Thank you for having me. Tell us a little bit about yourself. What part of the country do you live in? |
| 1:45.4 | What do you do for a living? How far you are at? Are you out of training? |
... |
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