MtoM #91 - OBGYN Builds Wealth
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 7 November 2022
⏱️ 18 minutes
🧾️ Download transcript
Summary
Dr. Spath interviews an OBGYN doc in his final year of residency. He has managed to pay off a significant amount of loans, save an emergency fund, and contribute to a Roth IRA with a wife and 4 children while in residency on 1 income. How did he do it? They have a written financial plan, a budget and a save first mindset. He teaches us that even as a resident you can save money and pay down debt. Want to learn more about emergency funds? Check out this post: https://www.whitecoatinvestor.com/where-to-keep-emergency-funds/
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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 | Hello and welcome to another milestones to millionaire podcast. I'm your host, Dr. Disha |
| 0:18.7 | Stath. This episode is number 91, OBGYN builds wealth. Today's episode is sponsored by Comp Help. |
| 0:26.4 | You've heard us talk about Comp Health before and how they created the locomotinance industry |
| 0:32.0 | as the very first agency to help physicians find short-term jobs. It's a great way to act |
| 0:37.2 | flexibility to your career and with Comp Health it's a truly personalized experience that focuses |
| 0:42.2 | on you and your skills, your specialty and your goals. Easily search for thousands of jobs across |
| 0:48.0 | the country that are added daily on Comp Health.com. You can find jobs close to home and Comp Health |
| 0:53.8 | can even help you find your next full-time job. Explore one of the largest job boards available now |
| 0:59.2 | at Comp Health.com. All right, welcome Dr. Bradley Mayor. How are you? Doing well. Thank you so |
| 1:06.9 | much for having me today. It's our pleasure, Bradley. Thank you for being here and tell us what we're |
| 1:12.0 | celebrating today. We're celebrating having a written financial plan that has led to a lot of |
| 1:18.1 | subsequent small financial milestones. Okay, small but very significant. Tell us what financial milestones |
| 1:26.0 | you've achieved recently. We've been able to fully fund our emergency fund. We've been able to |
| 1:32.7 | start and partially fund Roth IRA for both my wife and myself and not take on any more debt |
| 1:39.6 | other than what we took out from medical school. Amazing. So you're living on a resident salary |
| 1:46.1 | and able to do all of that. Most Americans don't even have a thousand dollars saved in their |
| 1:50.9 | real job. So what a great achievement. Tell us about where you are in your training right now. |
| 1:57.6 | I'm in my final year of training in OB-DYN. Okay, awesome. And what part of the country do you live in? |
| 2:05.2 | We're down in Houston, Texas, which is a good cost of living. Yeah. And tell us about your family |
| 2:10.8 | situation. So I'm married to my wife. We've been married for eight years and we have four beautiful |
... |
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