MtoM #127 - Veterinarian Starts Her Own Business and Finance 101: 457(b) Plans
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 17 July 2023
⏱️ 26 minutes
🧾️ Download transcript
Summary
This veterinarian shares her journey of graduating with $300,000 of debt and getting her first job making only $28,000 a year, to opening her own business. She realized that while she became a veterinarian because she was passionate about it, she would have to educate herself on finances and make some changes if she wanted to become financially independent. She is now loving owning her own mobile end of life care business and making progress on all of her financial goals. Stick around after the interview for a Finance 101 discussion about 457(b) Plans.
At some point in our financial lives, it will be time to buy a home. A physician mortgage can be a good vehicle for a young doctor who's just out of school and has a more effective place to use their money than on a big down payment. These loans allow doctors to secure a mortgage with fewer restrictions and a lower down payment than a conventional mortgage. But if you're further advanced in your career or deeper into your journey to financial freedom, buying a home with a conventional mortgage and then, later on, potentially refinancing that loan to a better rate with a shorter time frame could be a great move. Wherever you are in your financial journey, make sure you use the mortgage that will be most financially beneficial for you. Hop over to our recommended tab to learn more about all of your mortgage and refinancing options at https://www.whitecoatinvestor.com/mortgage
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 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 127. Veterinarian starts her own business. |
| 0:18.8 | At some point, our financial lives will be timed by a home. A position mortgage can be a good |
| 0:23.1 | vehicle for a young doctor who's just out of school and has more effective place to use their |
| 0:26.8 | money than on a big down payment. These loans allow doctors to secure a mortgage with fewer |
| 0:31.6 | restrictions and a lower down payment than a conventional mortgage. But if you're further |
| 0:35.3 | advancing your career or deeper into your journey to financial freedom, buying a home with |
| 0:38.6 | conventional mortgage and then later on potentially refinancing that loan to a better rate, |
| 0:42.4 | this shorter time frame could be a great move. Wherever you are in your financial journey, |
| 0:47.0 | make sure you use the mortgage that will be most financially beneficial for you. |
| 0:50.8 | Up over to our recommended tab to learn more about all of your mortgage and refinancing options, |
| 0:55.4 | at whitecoatinvestor.com slash mortgage. You can do this and the whitecoat investor can help. |
| 1:01.9 | All right, our guest today is not our typical guest on this podcast. We often get feedback saying, |
| 1:07.6 | ah, too many people that are deck of millionaires and make a gazillion dollars a year. How come |
| 1:13.5 | there's nobody like me on the podcast? Well, today we have somebody that maybe just like you |
| 1:19.3 | may even be making less money than you, yet still accomplishing great things in her financial |
| 1:26.0 | life. We're going to get her on the area here shortly. Let's stick around afterward. We're going |
| 1:29.6 | to talk a little bit about 457b plans before we go today. So let's get into our interview. |
| 1:36.3 | Our guest today on the Milestones to Millionaire Podcast is Jessica. Welcome to the podcast. |
| 1:40.2 | Thank you. Tell us what you do for a living and how far you are out of your school and training. |
| 1:45.5 | So I'm a veterinarian. I graduated from that school 12 years ago, which seems like a long time now. |
... |
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