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White Coat Investor Podcast
MtoM #140: Vascular Surgeon Lives Like a Resident and Finance 101: Car Insurance
Oct 16, 2023
Discover how a vascular surgeon achieved financial milestones by living like a resident. From paying off student loans to buying cars with cash and maxing out retirement accounts, she shows that growing wealth doesn't require a high income. Stick around for a finance 101 discussion on car insurance, including the importance of increasing liability coverage and understanding comprehensive/collision insurance.
25:25
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Quick takeaways
- Living frugally and saving like a resident can lead to financial success and the accomplishment of significant milestones.
- Increasing liability coverage and considering umbrella insurance can provide adequate protection in auto accidents and minimize financial risks.
Deep dives
Achieving Financial Milestones
In this podcast episode, a vascular surgeon shares her journey to financial success, highlighting three significant milestones. Firstly, she received her public service loan forgiveness for her student loans, a major relief after consolidating her loans and spending hours on the phone with FedLoans. Secondly, she achieved a net worth of one million dollars, reaching her goal before turning 40. To accomplish this, she and her husband lived like residents, saving over $120,000 for a down payment on their home and negotiating a favorable deal. Finally, the surgeon emphasizes the importance of living frugally, maxing out retirement accounts, and staying up-to-date with student loan management strategies. Overall, her story provides inspiration for others to take control of their finances and pursue similar milestones.
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Discover
highlights
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