MtoM #99 - Doc Pays Off Student Loans 8 Months Into Attendinghood
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 2 January 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
This doc paid off his student loans in record time. He took on several moonlighting jobs during residency in order to pay down his loans while still in training. He had paid off $287,000 only 8 months into his first attending job. We think you will find his story motivating and inspiring! Want to learn more about moonlighting? Check out this article: https://www.whitecoatinvestor.com/financial-considerations-for-moonlighting-physicians/
If you're like most doctors, nobody taught you anything about personal finance or investing during your undergrad, professional school, or residency. And even though your family - and perhaps even your business - rely on you to be the Chief Financial Officer, you have never been given the tools to succeed. Enroll in WCI Financial Boot Camp, a FREE educational email series, and learn to convert your high income to wealth. You will learn the basics of investing, saving, insurance, and more. Your high income alone will not lead to financial success, but as always, we want to help you on your financial journey. Go to https://www.whitecoatinvestor.com/financialbootcamp to sign up today! 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 | Hello and welcome to another episode of the milestones to millionaire podcast. I'm your host |
| 0:17.6 | Dr. Disha Spath and today we have a very special guest Dr. Leo Reep who's going to tell us about |
| 0:22.4 | his journey to pay off $287,000 of his student loans in a hurry. This episode is sponsored by |
| 0:29.6 | all global circle. You have valuable knowledge and can always use a little extra money. |
| 0:34.8 | The all global circle community is set up to provide a clear, easy and efficient means of |
| 0:38.6 | communication between the pharmaceutical industry, the research industry, and those professionals |
| 0:43.6 | were using new developments and end products on an ongoing daily basis. If all global circle can't |
| 0:49.3 | get you a survey to take within 90 days, they'll pay you a loyalty bonus just for logging in and |
| 0:54.6 | checking a couple of times per month. By signing up at whitecodeinvestor.com slash global, you'll get |
| 1:00.7 | an extra $50 just for being a member of the WCI community. All right Dr. Reep, how are you today? |
| 1:08.1 | I'm wonderful. Thanks so much for having me out. Thank you for being here. Please tell us a little |
| 1:12.5 | bit about yourself. Yeah, so I'm a human-talented oncologist. I graduated medical school in about 2015 |
| 1:20.4 | and completed my training just a little over a year ago. Wonderful. And what part of the country do you live in? |
| 1:28.0 | We live in Michigan and live in the Metro Detroit area. And how much did you pay off? |
| 1:34.2 | I ended up paying them about $287,000, about eight months after I finished training. |
| 1:39.7 | Oh my god, eight months. That's amazing. How long did it take you total? Were you making payments |
| 1:45.2 | during your training as well? Yeah, so I certainly didn't make that pay that off all within the eight |
| 1:50.9 | months, within becoming an attending long story short. In about 2014, I discovered the WCI and |
| 1:58.6 | started to dig into the philosophy a little bit. And then in 2015, when I got that infamous packet |
| 2:04.9 | delivery with the sum of my money that I owed, I ended up sort of a little bit of a fire in me to |
... |
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