MtoM #132: Emergency Medicine Resident Hits $100K in Retirement Accounts and Finance 101: Cash
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 21 August 2023
⏱️ 23 minutes
🧾️ Download transcript
Summary
This emergency medicine resident saved $100,000 in his retirement accounts all during residency. He said living in the midwest helped because of low cost of living. In addition he stuck to a tight budget, cooked at home, rode his bike to the hospital and saved all he could. This doc is also committed to education and has helped many of his peers and attendings become more financially literate. He said his next big financial goal is to become a millionaire within 3-5 years. After the interview Dr. Dahle will be talking about cash and what to do with it 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 milestone to millionaire podcast number 132. |
| 0:16.6 | Emergency medicine resident hits $100,000 in retirement accounts. |
| 0:21.3 | As a White Coat, you have valuable knowledge. |
| 0:23.3 | Various companies want that knowledge and they're willing to pay you for it. |
| 0:26.1 | That's why we put together a list of recommendations for companies that pay you to take |
| 0:29.3 | service. You're looking for a profitable side gig for not too much effort. |
| 0:33.6 | Hitting paid for service could be the perfect solution for you. |
| 0:36.6 | You can make extra money, start a solo 401k and use your medical knowledge to |
| 0:39.9 | impact new products. One of the WCI columnists makes an extra $30,000 |
| 0:43.8 | a year just doing these surveys. Sign up today and use a fraction of your |
| 0:47.3 | downtime to make extra cash. Go to whitecodeinvestor.com slash MD |
| 0:52.0 | service. You can do this and the White Coat Investor can help. |
| 0:55.8 | All right, we got a great guest today that's really accomplished something remarkable. |
| 1:00.1 | Stay tuned after this interview with Paul. We're going to talk about cash, |
| 1:03.7 | what you should do with your cash. Let's get him on the line. |
| 1:08.3 | Our guest today on the milestone to millionaire podcast is Paul. Paul, welcome to the podcast. |
| 1:12.8 | Thank you. Tell us what you do for a living and how far you are out of train. |
| 1:17.5 | So I actually just graduated in the end of June. |
| 1:21.3 | So and I'm in a ER. So have you actually yet to start my actual first attending job, |
| 1:27.4 | but that starts in about a week? Oh, that's exciting. Yeah. So you got a few weeks off. |
... |
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