White Coat Investor Podcast MtoM #168: Anesthesiologist Becomes a Millionaire and Finance 101: White Coat Investor Philosophy - 12 Financial Principles for Doctors
Apr 29, 2024
An anesthesiologist shares her journey to becoming a millionaire in just 3.5 years post-training, stressing the importance of saving and negotiation. The podcast also covers financial principles for doctors, including intentional spending, tax strategies, and asset protection.
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Rapid Path To A Million
- Jane became a millionaire three and a half years after fellowship by saving aggressively and investing.
- She reported a net worth of $1.2M with $90k in investments and $15k student loans remaining.
Make And Follow A Written Plan
- Read financial education consistently and make a written roadmap for investing.
- Update the plan when needed and stick to it instead of chasing individual stocks.
Negotiate To Grow Your Income
- Invest in negotiation skills and pursue higher-paying contract structures like 1099 or S-corp when appropriate.
- Work smarter to increase your 'shovel' rather than only increasing hours.