MtoM #167: General Surgeon Becomes a Millionaire 3 Years Out of Training and Finance 101: Cars

Apr 22, 2024

A general surgeon became a millionaire 3 years after training, sharing insights on wealth building and frugal spending. He discussed paying off student loans, saving, and splurging on what matters, like buying a Corvette. The podcast also covered Finance 101 with a focus on car purchases and financial discipline.

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Introduction

00:00 • 2min

Financial Journey of a General Surgeon Achieving $1 Million Net Worth

02:26 • 2min

Building Wealth Through Financial Discipline

04:40 • 8min

Navigating Money Disagreements and Financial Alignment in Residency

12:18 • 2min

Building Wealth: Balancing Financial Goals and Life Pleasures

13:53 • 10min

Financial Insights on Car Purchases and Safety Balancing

23:32 • 4min

Today we are talking with a general surgeon who paid off his student loans only 7 months out of training. He then dove into growing his wealth and became a millionaire in 3 years. He said he and his wife have always been fairly frugal and good savers but they have also splurged on what they care about. This doc is a car lover and happily bought himself a corvette. He is a great example of building wealth while allowing your spending to reflect your values. After the interview we are gong to talk about cars for Finance 101.

I estimate that 80% of doctors need, want, and should use a financial advisor and/or an investment manager. Some investment gurus such as Dr. William Bernstein think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it—just make sure you are getting good advice at a fair price. If you need help updating your financial plan or just getting one in place, check out our list of recommended financial advisors at https://www.whitecoatinvestor.com/financial-advisors. You can do this and The White Coat Investor can help.

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!

Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones

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