MtoM #200: Military Family Physician Takes the Fast Lane to Wealth and Finance 101: The Millionaire Fastlane
Dec 9, 2024
A military family physician shares his remarkable journey to millionaire status by age 30, emphasizing the support of family and a strong entrepreneurial spirit. He dives into his real estate investments, detailing strategies like house hacking and leveraging partnerships for financial success. The discussion highlights the lucrative and flexible nature of locum tenens work, which allows healthcare professionals to maximize their income while enjoying more control over their careers. Ultimately, balancing work and family is key to fulfillment and wealth.
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question_answer ANECDOTE
Military Doc Reaches Millionaire Milestone
Alex is a U.S. Air Force family medicine physician stationed in Colorado Springs and four years out of residency.
He hit a million-dollar net worth just before turning 31 through investing and hustling.
question_answer ANECDOTE
Residency House Hack Turned Windfall
Alex bought a house in residency with only $58 down using a physician loan and did a live-in flip.
That property later doubled in value and now cash flows about $1,000 per month as a rental.
volunteer_activism ADVICE
Get In The Right Room And Partner Up
Join the right rooms and find partners after educating yourself to scale investments faster.
Partnerships accelerated Alex's growth and enabled deals he couldn't do alone.
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This military family medicine doc has become a millionaire. He is doing all the right things to invest and build wealth, but his real focus is on real estate. He has a real entrepreneurial mindset and is a natural hustler. He is creating businesses, buying properties, investing in real estate deals and doing whatever it takes to build wealth quickly. He said his biggest hobby is his businesses but his biggest priority is his family and he will always value time with them above anything else. After the interview we will be talking about M.J. DeMarco's book, The Millionaire Fastlane for Finance 101.
One of the most underrated financial moves in medicine is working locum tenens. It pays significantly more on average, and you can work locums full time or on the side of your full time. And when you work with CompHealth, the #1 staffing agency, they cover your housing and travel costs —which on top of higher pay, really adds up. Locums also gives you more control of your career, allowing you to go where you want, when you want, with a schedule that works for you. It’s the perfect way to get ahead financially while getting focused on what you love. Whether it’s locum tenens or a regular permanent position, build your career your way with the power of CompHealth. Learn more at https://CompHealth.com
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!
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