MtoM #230: Radiologist Hits Early Financial Independence and Finance 101: The Three Pathways to Wealth

Summary

White Coat Investor Podcast: MtoM #230 – Radiologist Hits Early Financial Independence and Finance 101: The Three Pathways to Wealth

Release Date: July 7, 2025

Dr. Jim Dahle of the White Coat Investor Podcast welcomes listeners to episode number 230, featuring Matthew, a radiologist who has achieved early financial independence. This episode not only celebrates Matthew’s financial milestones but also delves into foundational financial strategies applicable to high-income professionals.

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1. Guest Introduction: Meet Matthew

Timestamp: [02:00]

Matthew introduces himself as a radiologist based in San Juan, Puerto Rico, six years post-training. Notably, he completed a pain medicine fellowship at Stanford, setting the stage for his unique financial journey.

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2. Celebrating the Milestone

Timestamp: [02:16]

Matthew shares his significant financial milestone: selling a real estate investment, marking his first multi-seven-figure exit. He expresses that financial independence for him is more about achieving substantial passive income—targeting $30,000 to $40,000 per month—rather than a specific net worth figure, although he aims for low eight figures.

Matthew: "I’d like to have 30 to 40,000 passive a month... Probably like low eight figures would be, Would be my enough."
[02:44]

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3. Unconventional Pathway to Wealth

Timestamp: [03:35]

Matthew outlines his unconventional approach to achieving financial independence swiftly after completing his medical training. Unlike many physicians who dive straight into their careers, Matthew took a three-month hiatus to embark on a bicycle journey across the United States. This period of reflection led him to recognize the importance of taking financial risks.

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4. Investment Strategies

a. Cryptocurrency Investments

Timestamp: [04:34]

Matthew allocated approximately 40% of his net worth to cryptocurrency, focusing on blue-chip assets like Bitcoin and Solana. His strategic investments paid off significantly, especially with Solana’s price surge from $18 to $180.

Matthew: "Originally I invested more into Bitcoin, but I was investing about the same into Solana... Now it’s like $180."
[04:42]

He mitigates crypto risk by utilizing ETFs and maintaining hardware wallets for secure storage.

b. Individual Securities

Timestamp: [05:56]

Diverging from the common wisdom of index fund investing, Matthew dedicates extensive time to researching and investing in high-conviction individual stocks such as MicroStrategy and Tesla. He emphasizes the importance of active management, including strategies like taking profits and asset rotation.

Matthew: "I had high conviction in microstrategy and Tesla and I invested in that... applying common principles like taking profits and asset rotation."
[06:42]

c. Real Estate Investments

Timestamp: [08:16]

Matthew discusses his real estate strategy, which involves selling investment properties to reinvest in development projects with trusted developers. He believes that large-scale commercial and development deals offer greater alpha compared to single-family homes, which he views as less scalable and more reflective of broader economic factors.

Matthew: "The alpha is in big commercial and development deals. I just think that's where you add a lot of value to society."
[08:29]

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5. Tax Optimization through Relocation

Timestamp: [04:34] & [10:15]

A pivotal move in Matthew’s financial strategy was relocating to Puerto Rico, reducing his tax burden from over 30% to just 2%. This relocation not only preserved more of his earnings for investment but also provided significant capital gains tax advantages.

Matthew: "I moved to Puerto Rico and I decreased my tax basis from like 30 something percent to 2%."
[04:34]

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6. Current and Future Financial Strategies

Timestamp: [09:37] & [11:23]

As Matthew approaches his financial independence goals, he plans to diversify his investments towards more stable, passive income sources. His immediate next goal is to establish a teleradiology business aimed at providing high-quality services and challenging large private equity radiology firms. Additionally, he intends to expand into other development projects to leverage high-return opportunities.

Matthew: "My next financial goal is starting a teleradiology business where I'd like to have rates be high, quality be high..."
[11:23]

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7. Advice for Aspiring Financial Independents

Timestamp: [12:06]

Matthew offers valuable advice to his peers, emphasizing the importance of risk-taking and aligning one’s career with personal values and goals. He encourages professionals to diverge from the herd mentality and persistently seek out alpha in various asset classes.

Matthew: "Don’t be afraid to quit a job you have either because it doesn't align with your values or it doesn't align with your goals."
[12:06]

He also highlights the significance of a high savings rate, combined with aggressive and informed investing, as crucial drivers of his financial success.

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8. The Three Pathways to Wealth: Dr. Jim Dahle’s Framework

Timestamp: [13:19]

After Matthew’s interview, Dr. Dahle elaborates on the "Three Pathways to Wealth," drawing parallels to Matthew’s journey.

a. Pathway 1: The Default Pathway

This conventional approach involves saving 20% of one’s income and investing in index funds over an extended period (15-25 years) to achieve financial independence. It is reliable, reproducible, and avoids high risks, making it suitable for most doctors.

Dr. Dahle: "It is not guaranteed, but it's pretty darn close. That pathway is to go to medical school... save 20% of your money for retirement and you put it into some sort of reasonable investment."
[13:43]

b. Pathway 2: Leveraged Real Estate Pathway

A more accelerated route that involves saving a higher percentage of income and investing in real estate with leverage. This strategy demands more effort, expertise, and risk management but can lead to financial independence in under a decade through property appreciation and debt reduction.

Dr. Dahle: "This is a little bit faster pathway. In fact, I think a lot of people can even reach financial independence... with short term rentals in less than a decade."
[14:10]

c. Pathway 3: Entrepreneurship Pathway

The most dynamic and quickest method, exemplified by Matthew’s journey. It involves creating and scaling businesses, which can significantly cut down the time to financial independence. This pathway requires substantial risk-taking, dedication, and the ability to juggle multiple ventures simultaneously.

Dr. Dahle: "It's very similar to what the doc we interviewed today has done. He was a serial entrepreneur... we became financially independent when I was 43 years old, essentially cutting eight, nine years off the pathway to financial independence."
[14:40]

Dr. Dahle emphasizes the importance of high savings rates and the willingness to take calculated risks. He also warns against overexposure in high-risk investments once substantial wealth is accumulated, advocating for a shift towards more secure assets to preserve financial independence.

Dr. Dahle: "If you get to 10 and 20 and 30 million and then you go back to broken, you suck at this game. It's not that hard of a game. You only gotta win it once."
[16:30]

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Conclusion

Matthew’s story is a testament to the power of high savings rates, strategic investment choices, and entrepreneurial spirit in achieving early financial independence. Dr. Jim Dahle’s elucidation of the Three Pathways to Wealth provides a valuable framework for listeners to assess and choose their financial strategies based on their risk tolerance, commitment, and career trajectories.

Notable Quotes:

• Matthew: "Don't be afraid to quit a job you have either because it doesn't align with your values or it doesn't align with your goals."
  [12:06]

• Dr. Dahle: "When you have a massive savings rate... your ability to take risk is very, very high."
  [16:00]

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This episode serves as an inspiring guide for medical professionals and other high-income individuals seeking to navigate the complex landscape of personal finance and wealth building.

Transcript

[Matthew]

This is the White Coat Investor Podcast, Milestones to Millionaire. Celebrating stories of success along the journey to financial freedom.

[Jim Dahle]

This is Milestones to Millionaire podcast number 230, radiologist hits early Financial Independence. This podcast is sponsored by Bob Bayani at Protuity. He's an independent provider of disability insurance planning solutions to the medical community in every state and a longtime White Coat Investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact [e-mail] Protuity today by email infoorotuity.com or by calling 973-771-9100. All right, we have a scholarship. We give away money every year, but we need people to help us with the scholarship contest. We need judges, judges that are willing to read a few essays of scholarship applicants and judge them. You can't be a student, you can't be a resident, but you can be anybody in any career and you can be a retiree and be a volunteer judge for the White Coat Investor Scholarship. Just email [e-mail] if you would like to participate. All right, we've got a pretty interesting interview today. A little bit different than a lot of stuff we've done on here. After we're done, I'm going to talk about what I call the three pathways to wealth. And I think it's a useful discussion. I think it's particularly useful in light of what you're about to hear in this interview. It's not the typical milestone. It's not the typical pathway to that milestone, but I think you'll find it interesting nonetheless. Our guest on the Milestones to Millionaire podcast today is Matthew. Matthew, welcome to the podcast.

[Matthew]

Hey, thanks for having me.

[Jim Dahle]

Let's start by telling people a little bit about you. Let's talk about what you do for a living, how far you are out of training and what part of the country you're in.

[Matthew]

Sure. Yeah. So I'm a radiologist. I live in San Juan, Puerto Rico. I'm six years out of training. And something interesting about me is I did a pain medicine fellowship at Stanford.

[Jim Dahle]

Very cool. Very cool. All right, well, tell us what milestone we're celebrating today.

[Matthew]

Milestone is I guess you could say that I'm selling real estate this month. It'll be my first multi seven figure exit. And I guess you could say I'm pretty close to where I want to be for financial freedom.

[Jim Dahle]

Very Cool. So really getting to be financially independent. So what kind of net worth are we talking about? What's your Number? Is it 4 million? Is it 8 million? Is it 15 million? What's your number that you think you really feel like you'd be financially independent?

[Matthew]

Yeah, so for me, I think more than just the number, it's really just how much passive income you're getting a month. So I'd like to have 30 to 40,000 passive a month. But I think in terms of net worth, I mean, I'd like to have definitely over, you know, seven figures. Probably like low eight figures would be, Would be my. Enough.

[Jim Dahle]

Very cool. All right, well, let's, let's talk a little bit about how you got there because you're relatively young, you're not that far out of training. How many years you been out of training?

[Matthew]

Almost six.

[Jim Dahle]

Six years out of training. And you're basically financially independent, you know, more than lots of docs would love to have. So what that tells me is you've had an unusual pathway. This is not the typical Dr. Pathway, whether it's how you earned money or how you saved money or how you invested money or how you used leverage, those sorts of things. So tell us how you got to where you are so quickly after training.

[Matthew]

Yeah, sure. So when I was done with training, I didn't have any help. I wasn't born rich. I think my net worth was like negative. Probably negative. A hundred thousand. Despite that, I, I didn't start immediately. I know a lot of physicians will start immediately after training. I actually took three months off and rode my bicycle across the United States because I had pain medicine patients one after another who had something terrible happen to them. And they said, I wish I could have done X if it weren't for, you know, I love, I wish I could go to Europe again, but I had this horrible event happen to me. So I just realized I was going through hoops until the grave. And on that trip I kind of realized that I wanted to take risks, try things. And so things I did to get to where I was was I invested in high conviction assets that I knew fundamentally were going to go up significantly, such as crypto assets invested in real estate and also different equities. Something else that helped me was I moved to Puerto Rico and I decreased my tax basis from like 30 something percent to 2%.

[Jim Dahle]

Yeah, that can, that can obviously give you a lot more money to invest. Tell us about the crypto assets you invested in. Is this primarily Bitcoin or what else did you Use?

[Matthew]

Yeah, originally I invested more into Bitcoin, but I, I, dollar for dollar I was investing about the same into Solana and that was when it was like maybe 18 to 32 dollars. And now it's like $180. So that helped. But I've, you know, I also invest a little bit in sui. I don't know how crypto, how, how big you guys are into crypto, but most of what I invest in are kind of blue chip cryptos. It's nothing crazy. Like, I, I, I don't own any meme coins or anything like that.

[Jim Dahle]

So what percentage of your net worth is in crypto assets now?

[Matthew]

Probably about 40%.

[Jim Dahle]

40%. So you have, you have millions of dollars in, in crypto assets. Does that make you uncomfortable at all?

[Matthew]

No, because a lot of it, I own ETFs, I converted my Bitcoin holdings into Ibit ETF, which is on Robinhood and it's FDIC. But I also am comfortable with owning my own hardware, wallet side, my own system for that.

[Jim Dahle]

Very cool. Now you mentioned you had made some investments in individual securities. Tell us a little bit about those and, and why you decided to do that rather than the more commonly used technique of just buying them all via an index fund.

[Matthew]

Yeah, sure. So I think like an, I think, you know, Dave Ramsey and some of these big financial people, they're all about index funds because their goal is for populations of people to have the best results on average for that population. But because I spend like three or four hours a day learning investing, I had high conviction in microstrategy and Tesla and I invested in that, in those, in 2023, 2024, and the returns have been good, but I mean I've, I'm applying common principles like taking profits and asset rotation. So I think like if you have, no, if you have like a lifetime cumulative experience of less than 50 hours of knowing finance or financial education, I think index funds are fine. I think if, if you are more hands on and you are part of communities of people that are really into knowing where to get alpha, I think that it's fine to go up a little bit on the risk curve.

[Jim Dahle]

Yeah. So do you still own a lot of Tesla stock?

[Matthew]

Yeah, yeah, I own, I mean I definitely own more than like million and a half dollars in Tesla and I also own a bunch of Tesla options. I've done covered calls, I've done leaps, I've done synthetic longs, but mostly now what I'm doing is just, just leap options in Tesla.

[Jim Dahle]

How'd that feel this spring as Elon Musk got involved with the government and, and investors seem to not exactly treat the price of a share of Tesla very well after that.

[Matthew]

Yeah. So sentiment without any. When people are trading headlines, usually that means it's an opportunity to buy. And so I did buy more Tesla. But regardless of your political views, there's some people whose entire platforms on social media and Twitter is just Tesla modeling. And they're more than just a car company. Their energy storage component of their business is growing rapidly. So is their, their bot component, their car insurance component. And so I really think like retail is the last to buy and the last to sell. And one of the easiest ways to make a lot of money is follow someone with less than 50 hours of financial education with a lot of opinions and just do the exact opposite of what they do. And so when you take like the mass in aggregate of people who are scared about Tesla, I just knew that timing, timing, the market is not as good as time in market. Tesla for me is about maybe a five to six year play at least.

[Jim Dahle]

Now you mentioned when I asked you what milestone you wanted to celebrate, you mentioned an exit from a real estate investment you had. Tell us a little bit about your real estate investing strategy. It doesn't necessarily sound like it's buy and hold forever.

[Matthew]

It depends. I mean I've owned various investment properties. Most of them are either divorce deals or partnership deals have gone bad. Right now I'm selling a piece of real estate and I'll be rolling it into a development project or two that I know with, with some people that I know are really good developers. I think develop, I think in the real estate world, single family homes, I just don't think it's scalable for a lot of reasons. I think you can go on loop net and you'll find these people in collections of like 50 single family homes are trying to sell it as, as one big asset. I mean I don't want to get into like economics too much, but if you look at like the case Shiller index and divided by the M2, it's just like a flat line, meaning that single family homes just kind of mirror global liquidity. I really think that the alpha is in big commercial and development deals. I just think that's where you add a lot of value to society.

[Jim Dahle]

Now that you've kind of gotten to enough for you, do you plan to change your investing strategy at all? Are you going to dial back the risk at all? You're going to dump a bunch of money into Treasuries. Do you have any plans to change how you've been investing?

[Matthew]

Yeah, so I'm definitely reallocating this year a little bit more into things that were more stable with passive income. I see no problem with that or profit taking and going down the risk curve a little bit. And I just think it's because that you'll see this with a lot of high net worth and ultra high net worth individuals is that they, some of them start to go down the risk curve because they don't want to lose what they've accomplished. And so I'm kind of in that same boat now.

[Jim Dahle]

Tell us a little bit about where you got the money to invest in the first place. As you started practicing medicine, what was your savings rate those first few years?

[Matthew]

I mean, my wife and I were pretty tight. We lived in a small house in Pennsylvania and I saved for two years. I basically just saved everything I could. And we moved to Puerto Rico. We lived in a small apartment as well. And I just, I mean, I did the opposite of what you're kind of supposed to do, which is like I just traded a lot of time for money.

[Jim Dahle]

So you say you made the money and then started investing it and, and tried to decrease your, your expenses as much as you could, including taxes.

[Matthew]

Yeah, things snowballed when I went to Puerto Rico, I was like a thousand there. And then things quickly changed. Just because of the tax advantage status you have there. There's no capital gains tax.

[Jim Dahle]

Yeah. So are you practicing via telemedicine at this point or are you practicing in Puerto Rico hospital or what's your practice plans at this point?

[Matthew]

Yeah, I just contract in the United States. That's part of the requirements for the Act 60 program is you have to do something that you're selling a good or service to the United States. And so that's exactly what I do, is I just contract in the United States and have contractors contract in the United States.

[Jim Dahle]

Very cool, very cool. All right, well, what's next for you? What's your next financial goal you're working on?

[Matthew]

My next financial goal is starting a teleradiology business where I'd like to have rates be high, quality be high, and try to tackle these multi nine digit private equity radiology businesses that have hurt a lot of radiologists either from their groups getting bought out or they almost hit partnership. And I'd like to expand that to other medical specialties. Other goals of mine is essentially just to get more into development deals and projects just because the returns are high and there's just a lot of good opportunity out there.

[Jim Dahle]

Very cool. All right, well, someone out there is hearing your story and going, I want to do that. What advice do you have for them?

[Matthew]

I think one thing is that physicians especially are, I think, like, from an early start in their training, they're, they're, they're basically trained to mitigate risk or to be as more risk averse as possible. And I just don't think that that's something you should shy away from, even if people are being naysayers about it. Don't be afraid to quit a job you have either because it doesn't align with your values or it doesn't align with your goals. I wouldn't. I think if you follow the herd, you're just. I mean, your returns are going to be less than mediocre. And don't be afraid to try things. I tried making a supplement company that was with sleep strips that were inspired by what I took when I moonlit in a prison overnight as an urgent care doctor, and it failed. I mean, Kroger almost picked it up and then Covid hit. But it's okay to keep trying. I think, you know, if you want to, quote, do what I did, some of it's luck, but some of it is just trying to aggressively spend an insane amount of time just looking for alpha and different asset classes. So I think that's another thing. I would, I would definitely say that me and where I came to be didn't just come from me just throwing money at different places. It literally took hundreds and hundreds of hours every day, just combing through opportunities.

[Jim Dahle]

Very cool. Well, thank you so much for being willing to come on the podcast and sharing your story and using it to inspire others to also find financial success in their endeavors. And thanks so much for that.

[Matthew]

Yeah, thanks for having me on.

[Jim Dahle]

All right. I hope you enjoyed that interview. It's not a typical pathway to wealth that you guys hear about, so I thought it would be useful to talk about what I call the three pathways to wealth. The first one is what I call the default pathway. It works extremely well. It's very reliable. It takes time, though, and it is a pathway that I have talked about here for the last 15 years. And it should not sound very unusual to you at all. It is. It is not guaranteed, but it's pretty darn close. That pathway is to go to medical school, go to residency, complete all that, and get a job where you're paying, being paid reasonably well. Okay. We're talking, you know, about what, your specialty or what your profession, if you're not a document is worth, then over the next two to three decades, you carve out 20% of your earnings and you put it toward retirement. You basically save 20% of your money for retirement and you put it into some sort of reasonable investment. Okay, typically, you know, index funds, right? You're buying all the stocks in the world using index funds. Maybe you have some bonds in there as well. Maybe there's a little bit of real estate, whatever. Typical portfolio, you put your money in there, 20% of it or so. And you know what? After 15, 20, 25 years, you hit financial independence. You get to the point where you never have to work again. You have 25 times what you spend per year saved up in retirement accounts. You know, whether it's a 401 or Roth IRA or a taxable account, it's not very complicated, it's not very hard, it's very reproducible. It's very easy to teach. And frankly, if you learn it well and you stay the course with your plan, it's pretty hard to screw up. That's pathway number one. And the pathway, frankly, that most doctors should be on, the real problem in the doctor financial world is not enough. Doctors are on this pathway. They're on no pathway at all. So this is the default pathway. Pathway number two is what I call the leveraged real estate pathway. You still have to save a bunch of your money, and maybe you save Significantly more than 20% of your money and you use it to invest with leverage with borrowed money. Okay? Typically this is done using real estate investments, whether they are short term rentals or long term rentals. You buy the properties. As the debt starts getting paid down, the property appreciates, you borrow money out of the property again to maintain a reasonable but constant or relatively constant amount of leverage until you reach financial independence, at which point you can do what you want. You can start paying down those properties and reducing your leverage risk or whatever you want to do. This pathway is probably faster than the default pathway, mostly because you're using leverage, but also because you are putting extra effort in and that effort has value. Typically in the beginning, you're often managing these properties yourself. You're certainly putting effort in making the deals and so on and so forth. Okay, so this is a little bit faster pathway. In fact, I think a lot of people can even reach financial independence, particularly with short term rentals in less than a decade. It does work. I've met many docs who have gone down this pathway and been just fine. Now you can't just do it haphazardly. You can't just throw the money around willy nilly and not manage the properties well. You can't buy terrible properties, you can't get over leveraged and get to the point where your properties are not cash flowing. It does take more time, it takes more effort, it takes more expertise and yes, there is more risk there and yes, there are aspects of a second job to it, but I think it's a faster pathway than pathway one and it's reasonably reproducible. Pathway number three is what I call the entrepreneurship pathway. It's interesting. People ask me, well, how do I get wealthy? And I generally tell them about pathways one and two. Is that how I became wealthy? No, I went down pathway three. Now we were also at the same time on pathway one. And if my pathway three had not worked out, our backup plan was to go down pathway two. We would have still reached financial independence by the time I was in my early 50s. Only from Pathway 1 without any entrepreneurship whatsoever. But because the white coat investor worked out as an entrepreneurial investment, as a side gig, as a business, whatever you want to call it, we became financially independent when I was 43 years old, essentially cutting eight, nine years off the pathway to financial independence. Now this is very similar to what the doc we interviewed today has done. He was a serial entrepreneur. He came out of residency and becoming wealthy was very important to him. It was important enough that he put in a whole bunch of work on the side. That's not all that different from what I did with the white coat investor. I basically had two full time jobs for a number of years, one of which was not paying me very much for quite a while. And he did this serially. When something worked out great, he took the money, he invested it, generally invested with quite a bit of risk, but he invested the money and he took on another serial venture. Even now he's talking about starting another company. He was willing to do a lot of things that a lot of people are not willing to do. Work very hard. Not only in his radiology and pain practices. I mean, just doing radiology and pain is pretty unusual. But after hours, on weekends, on holidays, on his vacations, he was putting in this additional work on this other stuff. He was willing to move to Puerto Rico, for example. I'm not willing to move to Puerto Rico. We've had blog posts by the way, if you're interested on that and whatever it's called. I can't remember Law 60 or whatever it is, but if you search Puerto Rico. At the White Coat Investor website, you can read more about the tax advantages available when you relocate to Puerto Rico. But he was willing to do these things, right? And the fun thing is when you have a massive savings rate, right, you're making good money. You're a radiologist, you're a pain dog, you're busting your butt, you've got this high six figure income. When you're doing that and you're saving almost all of it, your ability to take risk is very, very high. Whether that is business risk, whether that is leverage risk, whether that is market risk, whether that's investment risk, your ability to take that risk is very high. Now, the risk doesn't always pay off, right? Picking stocks is not a practice I generally recommend, no matter how much you're going to study the stocks. I mean, just look at the data, right? There's all these professionals out there picking stocks, trying to beat the market. And what percentage of them do it in the long run? Right. 5% ish. Over 20 or 30 years, that's the percentage that beats the market. So if those are professionals with all kinds of analysts working with them and high powered computers helping them that are beating the market, it's probably not the way for you to bet. But if you're saving 80% of a really high income, it really doesn't matter all that much how you're investing. You're going to become wealthy very quickly. Yeah. Did he have some winners? Absolutely. Right. Crypto's done very well over the last 15 years. And so investments in that it could have gotten somebody very wealthy very quickly. Now he's got a little bit of real estate on the side as well. And when that pays off, similarly, you can do very well. Now, high returns help, but that big savings rate was a massive method, Right. It would be interesting to go back and look at how much of his money was brute force savings versus how much was investment returns. And I wouldn't be surprised to learn that 30%, 50% or more of it is just money he made that he didn't spend. And that's oftentimes how you can get anything like this going. Whether it's a bootstrap business, whether it's reaching financial independence, making a lot of money and saving a big chunk of it is how you get wealthy very quickly. So don't assume that you can not make much and not save very much of it. If you just had put it all in Bitcoin and Tesla would have paid off. There's a whole bunch of people that picked something besides Bitcoin and Tesla, for whom it did not pay off. So be careful with that. And certainly as you begin to approach enough. Remember Bill Bernstein's advice, right? When you win the game, stop playing. Now, that's not specific advice. Don't try to pin him down on what exactly that means. But the point is, if you get to 10 and 20 and 30 million and then you go back to broken, you suck at this game. It's not that hard of a game. You only gotta win it once. So if you're getting to the point where you've got eight figures in assets, take some of it out and stick it in treasuries or something very safe so that you'll never go back to being broke. I've had a few stories of docs who have done ridiculously well, oftentimes with stories like this doc has had and then are subsequently find themselves at 55 or 60 back working clinical shifts because they have to. You don't want to be in that situation. You only got to get rich once if you do it right and you invest in a way that you will stay rich. So I hope that's helpful. All right. This podcast was sponsored by Bob Baiani at Gratuity. One listener sent us this review. Bob has been absolutely terrific to work with. Bob has always quickly and clearly communicated with me by both email and or telephone, the responses to my inquiries usually coming the same day. I have somewhat of a unique situation and Bob has been able to help explain the implications and underwriting process in a clear and professional manner. Contact [e-mail] Protuity today or you can email infootuity.com or you can call 973-771-9100 and get your disability insurance in place today. Thanks for being a listener to the podcast. Keep your head up and shoulders back. You've got this. We'll see you next time on the podcast.

[Matthew]

The hosts of the White Coat Investor are not licensed accountants, attorneys or financial advisors. This podcast is for your entertainment and information only. It should not be considered professional or personalized financial advice. You should consult the appropriate professional for specific advice relating to your situation.