White Coat Investor Podcast

MtoM #49 - EM Doc Pays Off Loans and Reaches $250K Net Worth

Jan 17, 2022
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ANECDOTE

Early Financial Success Story

  • Jason, an emergency physician, paid off all his student loans and reached a $250K net worth within a year and a half out of training.
  • He built good financial habits during residency by maxing out his Roth IRA and investing consistently, benefiting from a strong market year.
INSIGHT

Balanced Investment Allocation

  • Jason's net worth is broadly diversified, mostly in index funds, bonds, and some cash saved for a house.
  • This balanced allocation supports growth while maintaining liquidity for near-term goals like home buying.
ADVICE

Live Like a Resident, Invest Aggressively

  • Jason lived like a resident while working as a full-time emergency physician, directing 50-60% of his income toward building wealth.
  • Prioritizing financial goals like debt payoff and investing enables significant net worth growth even on moderate income.
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