Retired ophthalmologist shares secrets to his $50 million portfolio success, advocating for strategic living and business ownership. Finance 101 covers estate taxes and the Fire Your Financial Advisor online course for comprehensive financial education.
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question_answer ANECDOTE
Owning A Surgery Center Scaled Wealth
Fred co-founded and managed a high-value surgery center and sold portions to private equity over time.
He sold remaining shares at retirement, which materially boosted his net worth toward ~$50M.
question_answer ANECDOTE
A Teen's Inheritance Sparked Lifelong Investing
At 13 Fred inherited $15,000 in a single stock and refused a broker's advice to sell low a year later.
That early lesson led him to self-educate on investing and later adopt low-cost index funds.
insights INSIGHT
Use Munis To Reduce Sequence Risk
Fred holds ~$17M in high-quality tax-free municipal bonds to generate stable retirement income.
That bond income plus index dividends yields about $1.3M tax-free, insulating him from sequence-of-returns risk.
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This doc recently retired after a 40 year career that he loved with a nearly $50 million portfolio. He has been living and preaching the WCI methodology long before WCI existed. He tells us part of his secret to success is to choose where you live wisely and own your own business. He said owning his own surgery center made a massive difference to his happiness and his wealth because he got to control the way the practice was run, how efficient it was, who worked there etc. He is a testament of what can happen if you live below your means and invest wisely. He wants us all to remember to find joy in all stages of life and not just live for retirement. After the interview we will be talking about estate taxes for finance 101.
No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://www.whitecoatinvestor.com/courses to sign up. 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!
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