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White Coat Investor Podcast
MtoM #153: Emergency Medicine Physician Pays Off $315,000 of Student Loans in One Year and Finance 101: Health Insurance in Early Retirement
Jan 15, 2024
An emergency medicine physician and his wife paid off $315,000 of student loans in one year through hard work and frugality. They share their journey of managing pregnancy while setting ambitious goals and reading financial books. The podcast also discusses the workload and passion of an ER doctor and provides insight into health insurance options in early retirement.
30:49
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Quick takeaways
- A single-income family paid off $315,000 in student loans in one year by working hard and making financial sacrifices.
- The podcast discusses various health insurance options for early retirees and emphasizes the need to plan and budget for health insurance costs.
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Paying off $315,000 in Student Loans in One Year
In this podcast episode, a husband and wife share their impressive achievement of paying off $315,000 in student loans within a year. Despite being a single-income family with the husband working as an emergency physician and the wife being a stay-at-home mom to four children, they were able to accomplish this goal by working hard and making financial sacrifices. The husband increased his workload and worked more shifts per month than the average emergency physician. They lived frugally, didn't make any major purchases, and paid off their credit cards and car loans. They also received some help by living in a rent-free space provided by the wife's parents. Their next financial goals are to invest in real estate and build a diversified investment portfolio. The couple gives advice to others, encouraging them to set specific financial goals, read financial books, and stay focused on their objectives.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode