MtoM #193: Social Worker Becomes a Millionaire and Finance 101: Health Insurance in Early Retirement

Oct 21, 2024

Cindy, a former social worker and the first employee at White Coat Investor, shares her inspiring journey from managing student debt to becoming a millionaire. She discusses the shock of rising tax bills with increased income and her strategies for effective yet boring investing. Cindy also reflects on budgeting lessons learned while raising two teenage boys and explores the complexities of health insurance for early retirees, offering insights into coverage options and proactive financial management.

Ask episode

Chapters

Transcript

Episode notes

Intro

00:00 • 4min

From Social Worker to Millionaire: A Personal Finance Journey

03:57 • 5min

Navigating Family Finances: Lessons on Budgeting and Spending

09:05 • 3min

Financial Stability and Health Insurance Insights

11:35 • 14min

Navigating Health Insurance Options for Early Retirement

25:23 • 6min

Today we are talking with someone near and dear to us at the White Coat Investor. Cindy was the first employee at White Coat and has been working here helping Dr. Dahle make WCI what it is for over 10 years. Her background is in social work and she and her husband have been working to pay down student debt and build wealth. She shares her story of tax bill shock as their income grew, boring but effective investing, and their excitement around getting rid of student loans. After the interview we are talking about health insurance in early retirement.

Southern Impression Homes takes owning rental property to the next level with their innovative 2.0 approach, focusing solely on new construction investment properties. Single family homes, duplexes and quads in high growth markets of Florida. They handle every aspect of the process with expertise and efficiency. Including financing, insurance, and property management. To learn more about build-to-rent, visit https://www.whitecoatinvestor.com/southernimpressionhomes, or call 904-831-8058!

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!

Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones

Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter