White Coat Investor Podcast MtoM #89 - Pediatric Hospitalist Pays Off $270,000 in Student Loans
Oct 24, 2022
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Rapid Loan Payoff Timeline
- Dr. Shane Raney paid off $270,000 of student loans in about 28 months after refinancing. He finished residency in 2018 and focused heavily on extra work and loan payoff starting a few years out.
Sole Breadwinner Strategy
- Dr. Raney became the sole breadwinner after his wife chose to stay home with their kids. He paid almost all the loans on his income while his wife managed the household.
Max Extra Work, Max Retirement, Then Attack Debt
- Work extra shifts and funnel all discretionary income to loans after maxing retirement contributions. Use your schedule advantages (like week-on/week-off) to pick up additional shifts and accelerate payoff.