MtoM #217: Ophthalmologist Overcomes Financial Mistakes and Finance 101: Career Longevity
Apr 7, 2025
An ophthalmologist shares his inspiring journey of overcoming financial mistakes, including parting ways with a costly advisor and dropping an overpriced policy. He emphasizes the importance of self-forgiveness and financial literacy in managing student loans and making informed financial choices. The conversation also delves into the significance of career longevity in healthcare, highlighting the need for balance between patient care, personal well-being, and sound financial planning for sustained success.
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question_answer ANECDOTE
Bad Disability Policy Bought In Residency
Bradley bought a disability policy in residency after a salesman pushed it and didn't scrutinize the terms.
Years later he realized it lacked specialty-specific and own-occupation coverage and replaced it via WCI-recommended brokers.
question_answer ANECDOTE
Firing A Misleading Advisor
Bradley trusted a so-called financial advisor who was actually selling insurance products.
He fired the advisor by email when he lost confidence and chose to manage finances himself.
volunteer_activism ADVICE
Evaluate PSLF Before Refinancing
Check public programs like PSLF before refinancing federal loans.
If you work in academia, evaluate PSLF eligibility because refinancing can forfeit large forgiveness benefits.
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Today we are talking with a doc who is celebrating getting back on track after some financial mistakes. He made the same mistake so many of us have and ended up with a bad financial advisor. His advisor sold him a disability policy that was overpriced and not a good product. Once he had his financial awakening he realized he could do this on his own. He fired his advisor and dropped the crappy policy. He took on his student loans in a new way and got rid of those too. He talked about the process of forgiving himself for his mistakes and celebrated the things he did do well. We love this story that shows us that making mistakes is part of the deal and you can always take control of your financial life and get back on track. After the interview we will be talking about career longevity for Finance 101.
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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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