Specialty

Financial Checklist

build-wealth
August 22, 2025•2 min read

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The Financial Checklist Every Doctor Needs (Before You Earn the Big Money)

Medical school, residency, attending life—they’re three very different worlds. But the one thing that connects them all? Money. Or more specifically, how you manage it. Here’s the financial checklist I wish I had printed out and taped to my wall from day one.

Medical School: Minimize the Damage

This isn’t the time to live like you’re already making six figures.

  • Take the least amount of loans possible. Don’t justify loan money for a new car or a week in Cabo. You’re borrowing against your future freedom.

  • Budget like crazy. Even $100 a month saved can help build the habit.

  • Use free resources. Scholarships, side gigs, and family meals all help.

  • Delay gratification. It’s temporary. Your future self will thank you.

Residency: Survive and Set the Foundation

Now you’re making some money—but it’s easy to fall into the “I deserve it” trap.

  • Don’t defer your loans. Use income-driven repayment plans like PAYE or REPAYE. That interest isn’t just disappearing.

  • Consider Public Service Loan Forgiveness (PSLF). If you're in an academic or nonprofit setting, this is gold.

  • Live below your means. If you can, save a little into a Roth IRA while your tax bracket is low.

  • Get disability insurance. Specialty-specific. Own-occupation. This is a non-negotiable.

  • Start learning about investing. Especially real estate. It's not about being a landlord—it's about building freedom.

Attending: Now It’s Game Time

You’ve made it. But this is where many lose the plot.

  • Negotiate your contract well. Get paid fairly for your work—including call, admin time, and productivity.

  • Push for loan repayment or benefits. Many employers offer it if you just ask.

  • PSLF or refinance. Decide based on your employer. If PSLF is off the table, lock in a low rate and pay it down fast.

  • Avoid lifestyle creep. That new paycheck can vanish if you let it.

  • Invest intentionally. Budget well, and start building real wealth—stocks, real estate, or both.

Why Real Estate Changed Everything for Me

I didn’t just save my way out—I invested. I used my attending income and knowledge of real estate to create new streams of income, buy back my time, and build real freedom. It helped me stay financially strong while still spending time with my family and pursuing the work I love.

Want a Shortcut?

If you’re serious about building wealth, take advantage of my Real Estate for Physicians Course, now just $97 with a money-back guarantee. No fluff—just strategy: https://resources.realestateinvestormd.com/courses/offers/de453696-6043-405d-9aa0-d34ae59bdf2f

And if time is your biggest constraint? Join us at Davis Equity Partners, where physicians invest passively and get access to institutional-grade deals without the heavy lift: https://api.leadconnectorhq.com/widget/survey/tksbfxdovtiNrrzLHjth

The earlier you get this right, the less pressure you'll feel later. Start smart.

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