MtoM #235: Resident Gets $100K in Assets During Residency and Finance 101: Medical School
Aug 11, 2025
A third-year resident boasts an impressive $100,000 in assets, showcasing smart savings habits and a 40% savings rate. Learn how he manages low expenses, moonlights for an extra $40K, and still enjoys life. The discussion also tackles the value of medical school amid evolving financial landscapes and the impact of technology on healthcare. Plus, get practical tips for navigating loans and financial planning while maintaining a fulfilling lifestyle. This journey is all about balancing finance and passion in the medical field!
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volunteer_activism ADVICE
Apply For The WCI Scholarship
Apply for the White Coat Investor scholarship by the end of August to reduce student debt risk.
Ten scholarships award thousands of dollars each year, so submit a strong financial-themed essay.
question_answer ANECDOTE
Combine Finances Early
Shreish and Hina combined all accounts and cards when they married in May 2023 to share access and visibility.
They track income and spending together so both know what is coming in and going out.
question_answer ANECDOTE
Rapid Net Worth Turnaround
They moved from a combined net worth of -$318,000 in 2023 to -$212,000 while in residency.
They have $100,000 in assets across a taxable brokerage, two Roth IRAs, and residency retirement accounts.
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Today we are talking with a doc just starting his third year of residency and he already has $100,000 in assets. He had his financial awakening his final year of medical school and has hit the ground running. He has a savings rate of over 40% and has done an amazing job keep their fixed expenses low. He has no car payment, no kids, cheap rent, and is living like a resident should. He found a moonlighting job that should let him make around $40K this year that will all go to savings. This doc is going to absolutely crush all of his financial goals moving forward. After the interview we are talking about if going to medical school is still worth it for Finance 101.
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