Are you a non traditional med student and think you’ll never be free of those loans? Think again. This psychiatrist finished training at 50 years old and had her loans paid off 3.5 years later. She took the WCI advice to live like a resident to heart. She sees debt as a great evil that keeps people down and is now so relieved to have it gone. See this advice for how to live like a resident https://www.whitecoatinvestor.com/live-like-a-resident/

This episode was brought to you by Laurel Road. At Laurel Road, we’ve always been committed to serving the financial needs of doctors, and we’re taking that commitment to the next level with a special announcement today on National Doctors' Day. For more information on this exciting initiative for doctors, please visit www.LaurelRoad.com. Laurel Road is a brand of KeyBank N.A. Member FDIC and Equal Housing Lender. NMLS # 399797

Management service organizations (MSOs) provide a range of administrative and managerial services to doctors. With the trend in practice ownership changing from ownership to employees, more people will be interacting with MSOs, either as an organization providing administrative services for your practice or as a private equity buyout that acquires your practice and you take more of an employee role. In this episode we discuss the advantages and disadvantages of an MSO to help you decide if this move is right for your practice. We also answer listener questions about what to do if you are denied life insurance, whether you should do Mega Roth IRA or tax deferred contributions, where to put your REITs, and purchasing company stock. See full show notes here https://www.whitecoatinvestor.com/mso-podcast-203/

This episode is brought to you by 37th Parallel Properties https://www.whitecoatinvestor.com/37parallel There is a substantial body of evidence supporting commercial real estate investing. Through the years, as we gained a deeper understanding of the asset class, we added more and more to our portfolio. But, unless you want to manage it yourself, the real trick is to find a trusted investment sponsor. As one of the good guys in the industry, 37th Parallel Properties is a partner we trust. They’ve been around for more than ten years and still maintain a 100% profitable track record with clear reporting, and excellent educational content. Many of our readers have invested with 37th Parallel, and so have we. If you’d like to check them out, go to https://www.whitecoatinvestor.com/37parallel

Dr. Cori is a hospitalist worth 2.8 million. She reached millionaire status 5 years out of training. Her secret to success? Automating and tracking her financial life. A key was working with her partner to make some sacrifices early on to reach their goals so they can live like no one else later. Now they have the opportunity to cut back to part time, retire early, or pursue other interests. Want to be a millionaire? Follow the steps found here: https://www.whitecoatinvestor.com/everyone-a-millionaire/

This episode was sponsored by Bob Bhayani, an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. If you need disability insurance coverage, contact Bob at drdisabilityquotes.com today by email info@drdisabilityquotes.com or by calling (973) 771-9100.

Managing finances with your partner can be challenging but it is hard to be successful if you don't learn to do it well. In this episode we discuss with Mrs. WCI how we have learned to work together to strengthen our relationship and our finances through the long pipeline of medical training and on to financial independence. From this episode you will see that getting on the same financial page with your partner takes time and effort but working together towards your shared goals is worth it. Learn how to work together here. https://www.whitecoatinvestor.com/7-ways-to-get-your-partner-on-board-financially/

If you have student loans, SoFi sofi.com/whitecoatinvestor practically invented student loan refinancing in 2011 and right now they have the lowest starting fixed interest rates they’ve had in years, which could help you save thousands of dollars on your student loans. Plus, they just lowered rates for physicians and dentists still in residency. If you refinance your student loans through SoFi, you’ll get a $500 cash welcome bonus just for listeners of this podcast.

Shifting your mindset, creating a plan, and executing that plan will lead to major success. That is what this doctor did to pay off $300K in student loans in just 2 years. With the mindset that you no longer care what other people think, you can avoid the lifestyle creep and reach your financial goals. Learn how to avoid the lifestyle creep https://www.whitecoatinvestor.com/how-to-avoid-the-traps-of-lifestyle-creep/

If you still have private student loans at a high rate, we recommend checking out Student Loan refinancing with Splash Financial. Refinancing with Splash can save you a lot of money with rates at historic lows. Splash also offers special refinancing to residents and fellows AND a cash bonus for eligible White Coat listeners. Go to splashfinancial.com/whitecoat today to see how much you can save.

It is that time of year again when many doctors start asking, should I keep renting or buy a home? Well, truthfully many are asking how can I get someone to loan me money for a home right now? But what we wish they were asking is should I buy a home at all, and if the answer is yes, should I use a doctor mortgage (https://www.whitecoatinvestor.com/doctorloan) or a conventional mortgage? We are going to jump into all these questions in this episode. Home ownership is great when done at the right time and right place. We hope this episode will help you be successful identifying that time and place for you.

If you have student loans, SoFi (https://www.sofi.com/whitecoatinvestor) practically invented student loan refinancing in 2011 and right now they have the lowest starting fixed interest rates they’ve had in years, which could help you save thousands of dollars on your student loans. Plus, they just lowered rates for physicians and dentists still in residency. If you refinance your student loans through SoFi, you’ll get a $500 cash welcome bonus just for listeners of this podcast.

Paying off student loans quickly doesn’t take a high physician size income. It simply requires you to live like a resident for a little bit longer and put large chunks of your extra income toward the loans each month. Working together with her partner, this pediatrician slayed her six figure student loan debt in only 15 months, giving them the freedom to now spend how they want without the weight of debt on their shoulders.

If you still have private student loans at a high rate, we recommend checking out Student Loan refinancing with Splash Financial. Refinancing with Splash can save you a lot of money with rates at historic lows. Splash also offers special refinancing to residents and fellows AND a cash bonus for eligible White Coat listeners. Go to splashfinancial.com/whitecoat today to see how much you can save.

Real estate is certainly a legitimate pathway to wealth that many people have followed. Our guest in this episode is Peter Kim of Passive Income MD. We dive into your questions about passive income today, especially real estate. See full show notes here https://www.whitecoatinvestor.com/vetting-private-real-estate-deals-podcast-200 . We discuss how to vet private real estate deals. We talk about what a young physician starting from scratch can do to dial up his real estate portfolio. We share some of the deals we have done that have gone bad and debate whether taking money out of traditional retirement accounts to fund real estate investments is a good idea. If you want to know how to get started with this asset class, this is a great podcast to listen to.

Pattern https://www.whitecoatinvestor.com/patternpodcast knows doctors have more important things to do than spend hours sorting through numerous insurance options. This is why thousands of White Coat Investor’s followers have trusted Pattern to help them compare and understand the disability insurance they are buying. Their online process is simple: First, request your quotes online. Second, compare your options and ask questions. And third, apply risk-free. Be confident you have the right policy at the best price. Request your disability insurance quotes with Pattern.

This millionaire radiologist graduated medical school with a net worth of a bottle of wine and a bicycle. 8 years out of training he was a millionaire. How did he do it? Not with the typical white coat investor portfolio. But we learn there is more than one way to become wealthy. They all start with a high savings rate though. He applied the 1/3 rule. He saved a 1/3 of his income, enjoyed 1/3 of his income, and used a 1/3 for his living expenses. Save 33% of your income and you can do nearly anything and still be a multimillionaire by mid career. Check out this post for ways to increase your savings rate. https://www.whitecoatinvestor.com/friday-qa-series-7-ways-to-increase-your-savings-rate/

This episode was sponsored by Bob Bhayani, an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. If you need disability insurance coverage, contact Bob at drdisabilityquotes.com today by email info@drdisabilityquotes.com or by calling (973) 771-9100.