MtoM #94 - ER Doc Pays Off Student Loans In 18 Months
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 28 November 2022
⏱️ 14 minutes
🧾️ Download transcript
Summary
This ER Doc paid off his student loans in just 18 months! How did he do it? He gave himself a 10% raise and continued to live like a resident and didn't feel like he was giving anything up despite living on a relatively small portion of his income. Want to get out of debt fast? Check out this post: https://www.whitecoatinvestor.com/how-fast-can-you-get-out-of-debt/
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 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 Whitecode Investor Podcast, milestones to millionaire, celebrating stories of success |
| 0:05.6 | along the journey to financial freedom. |
| 0:12.7 | This milestones to millionaire, podcast number 94. Emergency physician pays off student loans in a year |
| 0:18.9 | and a half. You've heard me talk about comp health before and how they created the locomotendants |
| 0:23.5 | industry as the very first agency to help physicians find short-term jobs. It's a great way to add |
| 0:28.2 | flexibility to your career. With comp health, it's a truly personalized experience that focuses |
| 0:32.7 | on you and your skills, especially in goals. Easily search from thousands of jobs across the country |
| 0:38.0 | that are added daily on comp health.com. You can find jobs close to home and comp health can |
| 0:42.7 | even help you find your next full-time job too. Explore one of the largest job boards available now |
| 0:47.4 | at comp health.com. This is the milestones to millionaire podcast. That means it's all about you |
| 0:53.5 | and what you've accomplished. We love to bring people on the podcast and celebrate their |
| 0:58.7 | accomplishments with them and use those accomplishments to inspire you to do the same. |
| 1:03.4 | So whatever financial accomplishment or milestone you've reached, no matter how big or how small, |
| 1:09.6 | we'd like you to come on the podcast and talk about it with us. You can apply at whitecodeinvestor.com-milestones. |
| 1:17.3 | We've got a great guest on today who's near and dear to our hearts. Let's get him on the line. |
| 1:21.1 | All right, our guest today on the milestones millionaire podcast is Jake. Welcome to the podcast. |
| 1:27.0 | Thanks for having me, Jim. Happy to be here. Always great to have a WCI family member here. Jake is |
| 1:32.7 | a partner of one of our staff members and you may have had a chance to meet him at the WCI conference |
| 1:38.1 | last year. But he has reached the milestone and it's time to celebrate it, especially since he |
| 1:42.8 | reached it so early in his career. Before we get into the milestone, tell us a little bit about you. |
| 1:48.1 | Tell us about your profession, how far you are out of training. So I am an emergency physician in |
| 1:52.5 | Madison, Wisconsin. Right now I am about a year and a half out of training now. Okay, and what are |
... |
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