MtoM #134: Primary Care Doc Becomes A Millionaire And Pays Off Student Loans in 4.5 Years And Finance 101: Hitting The Ground Running
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 4 September 2023
⏱️ 23 minutes
🧾️ Download transcript
Summary
This doc has been a White Coat Investor since he was a med student. He got started with his financial journey during residency and has hit financial milestones left and right. Less than 5 years after residency he has paid off his student loans, acquired several real estate properties, invested wisely and become a millionaire. If you want to follow in his path he recommends that you learn all you can, absorb everything you can, surround yourself with like minded people and work hard up front. After the interview we will talk about hitting the ground running for Finance 101.
We estimate that 80% of doctors need, want, and should use a financial advisor and/or an investment manager. Some investment gurus such as Dr. William Bernstein think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it—just make sure you are getting good advice at a fair price. If you need help updating your financial plan or just getting one in place, check out our list of recommended financial advisors at https://whitecoatinvestor.com/financial-advisors. You can do this and The White Coat Investor can help.
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, |
| 0:02.2 | 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 134. |
| 0:16.3 | Primary care doctor becomes a millionaire and pays off student loans in four and a half years. |
| 0:20.8 | We estimate that 80% of doctors need want and should use a financial advisor and or an |
| 0:25.5 | investment manager. Some investment gurus such as Dr. William Bernstein |
| 0:29.8 | think my estimate of 80% is way too low. But at any rate, if you want to use an advisor |
| 0:34.7 | temporarily or for your entire life, there's no reason to feel guilty about it. |
| 0:38.0 | Just make sure you're getting good advice at a fair price. If you need help updating your |
| 0:42.7 | financial plan or just getting one in place, check out our list of recommended financial |
| 0:46.4 | advisors at whitecodeinvestor.com slash financial dash advisors. You can do this and the white |
| 0:52.0 | code investor can help. By the way, we have a new page where we have all of our recommended services |
| 0:56.4 | on one page. You can go to whitecodeinvestor.com slash recommended and check that out. |
| 1:01.8 | All right, we got a great interview today. |
| 1:04.4 | My interview today is someone who found financial near Vana early in his career. |
| 1:12.4 | Basically, he's a medical student, read the whitecode investor book and that has made all the |
| 1:17.1 | difference over the next eight years or so. And as now had a relatively high amount of financial |
| 1:25.3 | success, just knocking off milestones left and right. So let's get them online and you'll |
| 1:30.5 | get to hear the story. The stick around afterward, I'm going to talk a little bit about |
| 1:35.1 | that it most important year in your financial life and how important it is to hit the ground |
| 1:39.2 | running for that. All right, our guest on the milestones familiar podcast today is what I call |
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