White Coat Investor Podcast

MtoM #241: Plastic Surgeon Receives PSLF and Becomes a Millionaire and Finance 101: PSLF

Sep 22, 2025
An academic plastic surgeon shares his journey to financial success, celebrating both his Public Service Loan Forgiveness and millionaire status just five years into practice. He discusses a disciplined 30% savings rate and the importance of financial literacy learned later in life. The conversation also delves into the nuances of PSLF, highlighting recent policy changes and reassurances for current applicants. With a focus on strategic investments and debt management, this episode offers valuable insights for anyone looking to enhance their financial future.
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ANECDOTE

PSLF Discovery And Outcome

  • Rob received Public Service Loan Forgiveness early in his career after including training years toward qualification.
  • He discovered his loans were gone when his account no longer existed and confirmed forgiveness soon after.
ANECDOTE

Significant Payments Before Forgiveness

  • Rob and his wife together had about $340,000 forgiven via PSLF across both their accounts.
  • He notes he still paid substantial amounts during the qualifying years and dislikes the term 'forgiveness' because he contributed many payments.
INSIGHT

Savings Rate Trumps High Income Alone

  • Combining a modest attending income with a working spouse and a ~30% savings rate can build millionaire status relatively quickly.
  • Rob hit millionaire net worth about four years into practice by prioritizing savings over high income alone.
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