Family doc shares how he saved $500,000 while enjoying life. Discussion on key moments pushing towards retirement. MLG Capital's private real estate investments offer substantial returns. Importance of maxing out retirement accounts and strategic career decisions highlighted.
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Half-Million In Retirement Eight Years Out
Colin, a family medicine doctor eight years out, hit $500,000 in retirement accounts while still carrying student loan debt.
He combined profit-sharing, partner ownership, and aggressive contributions to reach this milestone.
question_answer ANECDOTE
From $380k Student Loans To $80k Remaining
Colin described paying down massive osteopathic school debt from about $380k to roughly $80k now with about 18 months left.
He also owns a home and rental properties which contribute to an $800k net worth.
volunteer_activism ADVICE
Use Private Refinancing Options Strategically
Use family or private arrangements to refinance student loans if public forgiveness isn't available for you.
Negotiate reduced interest or payment plans with relatives to accelerate payoff responsibly.
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Today we are talking with a family doc who has hit a big net worth milestone. He has been paying down debt all while building wealth totally half a million dollars. He tells us that he has been saving aggressively and accomplishing his financial goals, but still finding a balance with enjoying life and spending money too. Stick around after the interview for Finance 101 with a discussion on moments in your financial life that help push people towards retirement and why.
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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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