White Coat Investor Podcast MtoM #184: Orthopedist Hits $3 Million and Finance 101: You Don't Have to Invest in Everything
Aug 19, 2024
An accomplished orthopedist who amassed $3 million just three years after training shares his inspirational journey. He and his wife tackled student loans, saved aggressively, and aligned their finances for a balanced life. They emphasize financial literacy and intentional choices that led to success. The conversation extends to the importance of a clear investment strategy, cautioning against FOMO, and exploring how commercial real estate can offer diversified opportunities without needing to invest in everything.
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Rapid Net Worth Growth
- The guest is an orthopedic surgeon three years out of training who hit $3 million in net worth with his wife.
- They combined incomes and front-loaded sacrifices early to accelerate wealth building.
Income Needs Financial Literacy
- High income alone doesn't create wealth without financial literacy and intentional saving.
- Brute-force savings and time in the market drove most of his early net worth growth.
Locums Paid Off Student Loans Fast
- He did a rural locums stint for 4.5 months that paid well and allowed rapid student loan payoff.
- That freed them to travel and begin fellowship without debt stress.