Managing Windfall Finances as a Pediatric Resident

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A pediatric resident details their financial decisions after receiving a $130,000 windfall, including paying off debts, maximizing retirement accounts, and strategizing to tackle $266,000 in student loans. The chapter explores considerations around home ownership, investment choices, and balancing debt repayment with investing priorities.

This pediatric resident is preaching the importance of having a written financial plan. He is a second year resident and got back to broke by knowing exactly what to do with a windfall because he had a written plan. He took the Fire Your Financial Advisor course and now has all of the knowledge and skills he needs to stay on the road to financial independence. After the interview we will be talking about mutual funds for Finance 101.

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