Residency isn’t the time to get rich. It is the time to avoid the mistakes that keep doctors broke and stressed for decades, and instead build the habits that will bring you financial success.
This book will restore your faith in the financial benefits of a career in medicine. That high income is coming, and if managed properly, it will allow you to eventually pay off your debts, buy your dream house, and enjoy a life free of financial worry.
24% of doctors in their 60’s are not yet millionaires despite decades with a six-figure income. That doesn’t need to be you.
Dr. Jim Dahle, emergency physician, best-selling author, and founder of The White Coat Investor, will help walk you through the handful of things you really do need to do during residency to ensure future financial success.
Residency is really about preparation. That means being paid fairly in your first attending job and walking out of residency with a written plan for your first twelve attending paychecks. Doctors who do this become multi-millionaires, often much sooner than they expected.
Use this guide to give yourself a massive financial head start and then be the best doctor you can be.
If you are a resident who wants to set yourself up for a very bright financial future and you have one slow call night ahead of you, this guide is for you. If you are an attending with trainees you want to start out right, this is the perfect ‘book club’ option to do that.
“Where do I even start?” is the financial question residents ask me most often. This book answers that question and much more. It covers the financial topics most relevant to residents in a concise, easy-to-read fashion. It would make a great ‘book club’ option to start your trainees out right. If you follow the path this book sets out for you, your financial future will be VERY bright.” – Kent R. Bradley, MD, WCI Financial Educator of the Year 2024
“There is no better cure for physician burnout than this book. Imagine if every physician followed this advice from Dr. Dahle and implemented it on day one after training. We would have a lot of happy physicians living lives of freedom and options.” – Sarah Catherine Gutierrez, CFP®, CRPS®
“The resident-to-attending transition is the most financially important period of your career, and navigating it effectively is literally worth millions. This short, digestible book shows you how in a format that fits even the busiest residency schedule.” – Jacob Zadra, MD
James M. Dahle, MD, FACEP, FAAEM is a practicing emergency physician and the founder of The White Coat Investor, now the most widely read, physician-specific personal finance and investing website in the world. He became interested in personal finance and investing after becoming disillusioned with the way he was treated by several unscrupulous financial professionals and in an effort to help his fellow physicians and other high-income professionals avoid the same errors, started The White Coat Investor website in 2011.
Dr. Dahle is now a best-selling author of four books and host of two weekly podcasts and an annual CME-eligible Physician Wellness & Financial Literacy Conference.
He is convinced that increasing the financial security of doctors enables them to be better partners, parents, and doctors along with reducing burnout, decreasing suicide risk, and improving patient care. The principles he teaches are neither complicated nor risky, but the process of becoming wealthy as a physician is by no means automatic.