An emergency physician shares how he and his family paid off an astounding $311,000 in student loans in under a year! By taking extra shifts and living like residents, they tackled their debt head-on. He passionately credits his wife's sacrifices for their success. The conversation also dives into the best paying hobby out there, revealing insights on financial independence for healthcare professionals. Discover how strategic planning and dedication can lead to a brighter financial future!
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question_answer ANECDOTE
From Residency To Zero Net Worth
Nathan is an emergency physician one year out of training living in the Southeast with a low cost of living.
He and his wife paid off their student loans and reached zero net worth within months of finishing training.
question_answer ANECDOTE
Loan Freeze And Residency Moonlighting
Nathan left med school owing about $298k and the balance stayed roughly the same through residency due to the loan freeze.
He saved roughly $80,000 during residency by moonlighting in his third year.
volunteer_activism ADVICE
Work Extra Shifts Strategically
Maximize early-career income by picking up extra shifts and signing a contract with fewer required hours if you plan to moonlight.
Use the extra earnings to accelerate debt repayment or savings while preserving scheduling flexibility.
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This emergency doc paid off $311,000 in less than one year! He worked like crazy and picked up shifts every chance he could get. He and his family lived like residents and poured everything they could into the loans. He credits his wife and all she sacrificed to making this huge accomplishment possible. They are now excited to have him significantly cut back on shifts and to buy a much needed car. For Finance 101 find out what the best paying hobby you can have is.
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