White Coat Investor Podcast

MtoM #104 - Dual Physician Couple Pay Off Loans During Residency

Feb 6, 2023
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ANECDOTE

Residency Debt Payoff And Early Net Worth

  • Edgar and his wife are both residents in Boston and paid off about $100,000 of student loans during residency.
  • They also built roughly $250,000 in bank accounts and investments while still in training.
ADVICE

Maximize Savings Rate During Training

  • Live frugally and set a very high savings rate to accelerate debt payoff and investing.
  • Edgar reports saving 65–85% of their combined resident salary each month to fund both goals.
ADVICE

Earn Extra Money With Call Shifts

  • Pick up extra shifts or call opportunities to boost resident income for debt repayment.
  • Edgar earned nearly $8,000–$10,000 extra this year by taking extra call shifts.
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