White Coat Investor Podcast MtoM #206: Urologist Becomes a Millionaire and Finance 101: Changing Your Family Tree
Jan 20, 2025
A urologist shares how he became a millionaire just four years after training, thanks to supportive parents and a newfound understanding of finance. He emphasizes having a plan for your paycheck and reflects on the importance of gratitude in his journey. The discussion also highlights the role of financial literacy in changing family wealth, urging parents to teach their children about budgeting and investing. Additionally, the benefits of locum tenens work and specialized staffing agencies in achieving financial success are examined.
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Debt-Free Start From Physician Parents
- Rich is a urologist about four and a half years out of training working near New York City.
- He credits early parental help paying for undergrad and medical school for removing debt barriers to wealth building.
Pandemic Crash Course In Finance
- Rich learned personal finance during residency by reading The White Coat Investor and listening to podcasts during COVID downtime.
- He used that crash course to plan finances as he transitioned into attending years.
Urologist Redeployed On COVID Units
- As chief resident during COVID, Rich worked on COVID units and helped with intubations, essentially reverting to intern duties.
- The experience was harrowing and intensified his gratitude and perspective.
