White Coat Investor Podcast MtoM #139: Academic Pulmonologist Hits Half Million Dollar Net Worth and Finance 101: Financial Advisors
Oct 9, 2023
An academic pulmonologist shares his journey to achieving a half million dollar net worth and taking control of his finances. Topics include firing a salesman financial advisor, building wealth, increasing savings, and the importance of finding a trustworthy financial advisor. The podcast also discusses the speaker's path to financial independence and their work in ICU telemedicine.
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Midwest Intensivist And Family Home
- Ian is an academic intensivist about seven years out of fellowship who lives in the Midwest and works in an academic center.
- He and his family bought a comfortable house during training that fits four kids and helps their finances without stress.
Net Worth Snapshot And Loan Plan
- Ian reported about $480,000 in retirement savings and roughly $150,000 in home equity as part of a half‑million dollar net worth milestone.
- He also expects his student loans to be forgiven via PSLF later this year and carries one car loan.
Income Fluctuated With COVID And Side Work
- Ian's household income rose from roughly $200k right out of training to over $400k during COVID before settling around $300k.
- He increased work hours and added tele-ICU shifts to boost income temporarily.