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I am very big on paying off student loan debt as quick as possible. Why? It’s not because I did it and want everyone to blindly just follow me. I believe a life without debt allows you to fully realize the potential of your income and make moves that can lead to a more fulfilling career.
My next guest is here to talk about how doctors can quickly pay off their student loans or other debt as quickly as possible. Dr. Cory Fawcett created Prescription for Financial Success – Helping Health Care Professionals Grow after a combination of thinking outside of the box and looking to decrease his clinical practice a bit. He has now published the first three books in The Doctors Guide financial series, writes a weekly blog, and posts 3-5 minute videos on his Facebook page daily.
After his first book won an award for Non-Fiction book of the year he decided it was time to give up clinical medicine and concentrate on changing the financial lives of doctors through writing and coaching. His last day of clinical medicine was Feb 20, 2017. He now calls himself a “repurposed” surgeon.
We’ll be talking about his book – Eliminating Debt. The White Coat Investor called him the “Dave Ramsey for Doctors without the bad investing advice.” I definitely agree with that. I found his book easy to read and the advice was simple and applicable whether you’re a resident or young attending. Definitely wish I had discovered him sooner!!
Things to pick up in this episode:
- Paying off debt vs investing
- Why you should pay off your debt as quick as possible
- He answers the scenario of a young Neurosurgeon attending with plenty of debt, no savings and investing
- Advice to pre-meds & medical students
- How he answers #imnotjustadoc
To learn more about Dr. Cory Fawcett check out his website: drcorysfawcett.com
Check out our sponsor Set for Life Insurance: www.setforlifeinsurance.com