MtoM #68 - Surgeon Builds Wealth By Living Like a Resident
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 30 May 2022
⏱️ 13 minutes
🧾️ Download transcript
Summary
This surgeon got back to broke 18 months out of residency. They continued to live like a resident, even living in their residency home. They went from $370K in debt to now $170K net worth. Maxed out tax protected accounts and put the rest toward paying off the debts, 60-70% of their income. Living like a resident works! https://www.whitecoatinvestor.com/live-like-a-resident/
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Transcript
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| 0:00.0 | This is the Whitecode Investor Podcast, milestones to millionaire, celebrating stories of success |
| 0:05.6 | along the journey to financial freedom. |
| 0:12.7 | This is milestones to millionaire podcast number 68, Surgeon Builds Wealth by Living Like A Resident. |
| 0:18.0 | This podcast is brought to you by the Peak Housing Read, an investment opportunity that enables |
| 0:22.9 | you to passively invest in single-family rental units at scale. With a minimum investment of $25,000, |
| 0:29.2 | the Peak Housing Team can immediately put your money to work across seven rapidly growing markets |
| 0:34.0 | in the US. To learn more about the Peak Housing Read, visit whitecodeinvestor.com slash peak P-E-A-K. |
| 0:41.6 | All right, we love doing these milestones podcasts. There are a lot of fun for us and |
| 0:45.5 | I hope you enjoy listening to them. If you want to be featured on the podcast, whatever milestone |
| 0:50.0 | you've reached, whether it's back to broker, a net worth of 100,000 or a million or 10 million, |
| 0:56.0 | or becoming financially independent or paying off your car or your mortgage or whatever, |
| 1:01.2 | we'd like to celebrate with you and use your experience to inspire others to do the same. |
| 1:05.9 | So you can apply at whitecodeinvestor.com slash milestones. Now let's get today's guest on the podcast. |
| 1:13.2 | My guest today on the milestones to millionaire podcast is Dr. David Oton. Welcome to the podcast. |
| 1:18.4 | Thank you for having me. Well, let's talk a little bit about you for a second. What's your |
| 1:22.8 | profession and how far are you out of training? I'm a general surgeon and I've been out of training |
| 1:27.9 | for just under two years now. Okay, and what part of the country are you in? You in the Northwest, |
| 1:32.3 | with Southeast or where? I live in the Northeast in a lower cost to living area in the Northeast. |
| 1:39.5 | Okay, and tell us about the milestone you recently reached that will be celebrating with you. |
| 1:44.6 | So I got back to broke, which was awesome. That is awesome. You know, we need to celebrate this |
| 1:51.3 | more often in our community because it's a big deal. I run into docs all the time that are years |
| 1:55.7 | and years out of training and their net worth is still zero or below zero. You know, |
... |
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