MtoM #38 - Dentist Achieves $0 Net Worth
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 1 November 2021
⏱️ 12 minutes
🧾️ Download transcript
Summary
This dentist just recently got back to broke! He finished training with a net worth of negative $510K. 5 years later they have reached a net worth of $40K. Consistently chipping away at your debt and managing your finances pays off. Make a plan early and track your financial goals with these four measurements. https://www.whitecoatinvestor.com/track-your-financial-goals-with-these-four-measurements/
I 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://www.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 for 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 Co-investor podcast, Milestones 2 Millionaire, |
| 0:04.5 | celebrating stories of success along the journey to financial freedom. |
| 0:09.0 | Here is your host, Dr. Jim Dolly. |
| 0:16.0 | This is Milestones 2 Millionaire podcast number 38, |
| 0:18.8 | a dentist getting back to broke. |
| 0:21.0 | This podcast is sponsored by Bob Bionny at drdisabilityquotes.com. |
| 0:25.4 | He's an independent provider of disability insurance planning solutions to the medical |
| 0:28.8 | community in every state and a long time White Co-investor sponsored. |
| 0:32.4 | Specializes in working with residents and fellows early in their careers to set up |
| 0:35.5 | sound financial and insurance strategies. |
| 0:37.7 | Can you review your disability insurance coverage or to get this critical insurance in place? |
| 0:41.7 | Contact Bob, drdisabilityquotes.com today by email info at drdisabilityquotes.com or by calling 973-771-9100. |
| 0:53.9 | Now this is the Milestones 2 Millionaire podcast where we celebrate whatever your Milestones |
| 0:58.8 | is and use it to inspire others who are working toward that same Milestone. |
| 1:02.4 | We've had lots of really impressive guests on this podcast lately, |
| 1:08.2 | which might make people think that, you know what, I can't relate to that. |
| 1:12.6 | I am so far away from that that this should I even be listening to this podcast. |
| 1:17.6 | Well today we've got a different Milestone. |
| 1:19.6 | We've got someone who has gotten back to broke, |
| 1:22.9 | which is probably the first and most important Milestone that we reach |
| 1:28.3 | on the pathway to wealth. |
| 1:30.0 | And so we've got a dentist on today who's been working toward this Milestone now for several years. |
... |
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