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The Financial Samurai Podcast

Making Money As A Doctor Today, Burning Out, And Pursuing Entrepreneurship With Daniel Shin, MD

Oct 5, 2023
Former urologist turned entrepreneur, Daniel Shin, discusses his journey from a $600,000 job to pursuing entrepreneurship. Topics include doctor burnout, entrepreneurship, family, real estate, income potential for urologists, urinary issues in older individuals, challenges with insurance companies, and financial goals with real estate investments.
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Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Dr. Daniel Shin transitioned from being a full-time urologist to pursuing entrepreneurship and real estate investing, emphasizing the importance of having long-term goals and outlets for energy in a high-income profession like medicine.
  • Relocating from Southern California to Memphis highlighted the challenges and importance of diversity and community, with Dr. Shin emphasizing the need to find a balance between providing for children and ensuring they face challenges and grow resilient, while maintaining their cultural identity.

Deep dives

Finding a New Path: The Journey to Financial Independence

Dr. Daniel Shin, a former surgeon, shares his journey to financial independence and the reasons behind his decision to start a blog and venture into real estate investing. After realizing that his career as a doctor lacked long-term goals and outlets for his energy, he started his blog as a creative outlet and to document his pursuit of financial independence. He calculated a target net worth and crafted a 15-year plan to achieve it. However, he later shifted his focus to real estate investing as a faster path to financial independence. Despite taking a significant income hit when moving to Memphis, Tennessee, Dr. Shin now works as a low-contentency urologist seven to ten days a month, allowing him more time to focus on his blog, social media presence, and real estate investments. He aims to achieve a balance between medicine, family, and business, and is confident that he can sustainably maintain this lifestyle and achieve financial independence within the next five years.

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