MtoM #141: Doctors Pay Off Student Loans Before Even Finishing Training and Finance 101: The Importance of Saving
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 23 October 2023
⏱️ 19 minutes
🧾️ Download transcript
Summary
This Hospitalist and Cardiology Fellow couple paid off almost $400,000 of student loans before they were both out of training! They put their noses to the grindstone and put all of their money to their loans. They said they are naturally not big spenders but were not financially literate until a few years ago when they found WCI. Once they knew what they needed to do they wrote a financial plan, made a budget and reduced their spending even more. It took them less than 3 years to pay off all of their student loans. After the episode stick around for Finance 101 to talk about the importance of saving to grow your wealth.
No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://whitecoatinvestor.com/courses to sign up.
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!
Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones
Main Website: https://www.whitecoatinvestor.com
Student Loan Advice: https://studentloanadvice.com
YouTube: https://www.whitecoatinvestor.com/youtube
Facebook: https://www.facebook.com/thewhitecoatinvestor
Twitter: https://twitter.com/WCInvestor
Instagram: https://www.instagram.com/thewhitecoatinvestor
Subreddit: https://www.reddit.com/r/whitecoatinvestor
Online Courses: https://whitecoatinvestor.teachable.com
Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This is a whitecoat investor podcast, Milestones to Millionaire, celebrating stories of success |
| 0:06.0 | along the journey to financial freedom. This is a milestone's millionaire podcast number 141. |
| 0:17.0 | Doctors pay off student loans before even finishing training. |
| 0:21.0 | Getting quality disability and life insurance should be the first financial chore for a doctor to complete. |
| 0:26.0 | Most docs don't have the ideal policy for their gender, specialty, state, or health status, |
| 0:30.0 | and one in seven doctors gets disabled at some point during their career. |
| 0:34.4 | Because these policies can only be purchased through brokers, we have put together a list of |
| 0:37.3 | vetted agents who are experienced with working with the specific needs of medical professionals |
| 0:41.5 | you have your best interest at heart. |
| 0:43.0 | If you have questions about insurance and what kind of policies would be the best |
| 0:46.2 | fit for you, check out our insurance recommended list at whitecode investor.com |
| 0:50.0 | slash insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. |
| 0:54.8 | You can do this. The white code investor can help. |
| 0:58.4 | All right, welcome to the milestones to Millionaire podcast. This is the |
| 1:01.7 | podcast where we use your accomplishments to inspire others to do the same. |
| 1:07.0 | We call those accomplishments milestones and they can be highly variable. Sometimes it's as simple as getting on a retirement committee. Sometimes it's |
| 1:14.4 | paying off some student loans or becoming a millionaire or just getting back to broke. I think we |
| 1:19.5 | even celebrated somebody that just bought a car with cash. We don't care what the |
| 1:22.6 | milestone is. We will use it to inspire others to do the same and to reach their own |
| 1:27.7 | milestone. So if you'd like to apply come on whitecoat investor.com |
| 1:31.2 | slash milestones. |
| 1:33.8 | All right, our guests today have taken their student loans |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Dr. Jim Dahle of the White Coat Investor, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Dr. Jim Dahle of the White Coat Investor and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.