MtoM #133: CRNA Becomes a Millionaire and Finance 101: Disability Insurance

Aug 28, 2023

A CRNA became a millionaire after an expensive divorce, emphasizing the need to learn about finances. They discuss the importance of admitting what you don't know, getting educated, and taking action. The podcast also covers the significance of disability insurance for doctors and provides alternative plans if it's not attainable.

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Introduction

00:00 • 2min

A Journey from Negative Net Worth to Millionaire: An Independent Locomus Provider's Story

01:31 • 2min

Asset Allocation and Financial Awakening

03:21 • 8min

Financial Success and Understanding Disability Insurance

11:16 • 6min

The Importance of Disability Insurance and the Need for Honesty

17:02 • 4min

This CRNA just became a millionaire. He had his financial awakening after an expensive divorce and realized he needed to learn more about finances if he ever wanted to retire. He dove in and read everything he could. He is now on his way to financial independence. He said there is no secret to any of this - you just have to do the work. He encourages us to admit to ourselves what we don't know, then get educated and get to work. After the interview stick around for a discussion on disability insurance for Finance 101.

Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted agents who are experienced with working with the specific needs of medical professionals and who have your best interest at heart. If you have questions about insurance and what kind of policies would be the best fit for you, check out our insurance recommended list at https://whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place.

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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