MtoM #75 - Postdoc Pays Off High Interest Debt
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 18 July 2022
⏱️ 13 minutes
🧾️ Download transcript
Summary
After not matching and doing a year postdoc before now being accepted into anesthesiology residency, this doctor accumulated $26K in credit card debt, mostly for the payment of his wedding. We celebrate with him today that he has paid off all of that high interest debt. With a $48K income as a postdoc and interest rates on the cards between 26-29% it was way harder than he thought! If you have debt hanging over your head here are some guiding principles for managing it: https://www.whitecoatinvestor.com/ten-guiding-principles-for-physician-debt-management/
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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 75, postdoc pays off credit card debt. |
| 0:18.0 | Now, SOFI has exclusive rates and offers for medical professionals, which could help you save |
| 0:22.4 | thousands by refinancing your student loans. You're still in residency, SOFI offers a lowered |
| 0:26.9 | interest rate and the ability to reduce your payment to just $100 per month while in school. |
| 0:31.7 | If you're out of residency, SOFI's great rates could help you save money and get on the road |
| 0:35.5 | to financial freedom. Check out their payment plans and interest rates, SOFI.com slash Whitecode |
| 0:40.4 | Investor. SOFI student loans are originated by SOFI bank and a member FDIC, additional |
| 0:45.3 | terms and conditions may apply, NMLS 696891. All right, we've got a great episode for you today, |
| 0:52.2 | a little bit different from some of the other ones we've done, but I think super inspiring. |
| 0:57.1 | And I know there's a segment of our audience out there that can really relate to this situation. |
| 1:02.0 | So I've been looking forward to it. If you would like to be on this podcast, if you would like to |
| 1:07.1 | celebrate your milestone with us, you can do so at whitecodeinvestor.com slash milestones. |
| 1:12.8 | And I don't care what your milestone is, whether it's getting back to broke, whether it's paying off |
| 1:16.5 | a car, whether it's buying a car. I think we did one like that a while back. Maybe it's paying off |
| 1:22.3 | your medical loans or becoming a millionaire, becoming financially independent, or paying off a |
| 1:26.5 | mortgage, whatever it is, we'll celebrate it with you. And we will use it to inspire others to |
| 1:31.7 | do the same. Let's get our guest on the line today. All right, our special guest today is Randall |
| 1:38.2 | Porter. Welcome to the milestones to millionaire podcast, Dr. Porter. Thank you for having me. |
| 1:43.3 | Tell us a little bit about your professional journey so far and kind of where you're at. |
| 1:48.4 | So professional journey has been a little bit securitist, but in short, finished med school and |
... |
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