MtoM #42 - Back to Broke as a Resident
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 29 November 2021
⏱️ 13 minutes
🧾️ Download transcript
Summary
This second year anesthesiologist resident and nurse partner are already back to broke. With a salary of $90K they have been investing and paying off debt. What are their secrets to success? Being born into geographic arbitrage has definitely helped. Continuing to take advantage of that by doing med school and residency in a low cost of living area and keeping the loans down to $125K helps also. As well as making sure they are spending money in alignment with their goals. Live like a resident https://www.whitecoatinvestor.com/live-like-a-resident/ and you can get back to broke and soon be debt free and on your way to millionaire status too.
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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. |
| 0:16.1 | Some milestones to millionaire podcast number 42. Back to broke is a resident. |
| 0:21.5 | The year is nearly over and we're all looking forward to 2022. That means it's |
| 0:24.7 | start of a new tax year and as always it's time to check whether your current tax plan is |
| 0:28.2 | truly tax-efficient to make sure you're keeping more of your hard-earned money in your pocket. |
| 0:32.0 | If you haven't heard about cerebral tax advisors, physicians all over the country work with them |
| 0:35.5 | to lower their personal and business taxes through court tested and IRS approved tax strategies. |
| 0:40.6 | Medical professionals rely on cerebral tax advisors for proactive planning strategies that help |
| 0:44.8 | them lower their effective tax rate and increase their wealth. Luxes Galati, founder of cerebral |
| 0:49.2 | tax advisors has nearly two decades of experience and high level tax planning strategies and multi-state |
| 0:53.9 | tax preparation. She's also the author of the book Advanced Tax Planning for Medical Professionals. |
| 0:58.1 | Groping a family of physicians and as married to them. |
| 1:00.9 | Cerebral services are flat rate and they're focused on their client's return on investment. |
| 1:05.1 | If you'd like to find out more, schedule a free consultation, visit their website |
| 1:08.7 | at cerebraltaxadvisors.com. |
| 1:12.2 | All right, we've got a great guest today who's recently gotten back to broke. Let's get him on the podcast. |
| 1:18.9 | All right, my guest today on the podcast is Colin. He is a second year anesthesiology resident |
| 1:24.8 | and has accomplished a pretty significant milestone. |
| 1:28.2 | He's already back to broke. |
| 1:29.6 | Welcome to the milestones to millionaire podcast, Colin. |
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