I tend to be very debt-averse. So I've tried paying off almost all of it as quickly as possible. Do I think that's the fastest way to maximize wealth? Absolutely not. But traditionally, I just have not pursued options that were high on debt. My brother's gotten into short-term real estate rentals and he's done very well with that. For me, I just found I'm happier when I don't feel obligated to anyone else.
This Doc was on the podcast a few years ago to celebrate paying off his student loans. Just a few years later he is back as a millionaire. He said they live below their means and are happy to live a frugal lifestyle. For this doc the point of growing wealth is it gives him the ability to give back to the community. He has a broad investment and savings strategy and is continuing to look for ways to diversify. After the interview stick around for Finance 101: The 4% Rule.
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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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