Episode 17 Doctor Money Matters.
On this episode, my guest is Valerie Jones, MD an OB/GYN physician who decided to retire from medicine at age 37. We talk about her background and what led her into and eventually out of medicine. We also discuss how she was financially able to retire at such a young age and advice she has for other physicians. Listen also to how she dealt with criticism from other physicians when she announced her decision.
Dr. Jones currently blogs at www.obdoctormom.com and also has written some articles for the Kevin MD website. I think many physicians will be able to relate to the stressors that led to this decision in their own practice or that of their colleagues.
Key points include living off of one income, rapid loan paydown, and non extravagant living.
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DawnJune 2, 2018 at 2:42 am
She doesn’t say how she really saved. Even if she only lived on her salary as she says and saved her husbands( lets say he made 100000k per year)they still would not have the 30 x living expense that she says she has now. The numbers don’t add up.There had to be family money passed down which allowed her and her husband to retire early because her 8 years of attending salary would not cut it. I think she should have disclosed that.
Dr. Money MattersJune 13, 2018 at 11:57 pm
Its a bit tough to disclose real numbers when reveal your actual identity on social media. But I understand what you are saying, but I certainly understand her reluctance to answer those specifics.
G.Y.July 24, 2018 at 7:01 pm
Very doable on 2 salaries with a frugal lifestyle and mindset. Why assume she has family money? That is the negativity and “no-can-do” attitude that keeps physicians locked in the rat race and underacumluation of wealth lifestyle. When you aren’t disciplined enough to work towards retirement at 37, you will work for eternity. I see it among all my colleagues. Bravo to her.