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5 Ways to Stay Positive with Six-Figure Debt

One of the greatest challenges, once you decide you want to be free of your debt, is keeping a positive attitude over the years it often takes to find freedom.  This post is focused on five practical ways to keep a smile on your face as you walk the path to becoming a debt-free millionaire doctor.  We begin with a story many of you can probably relate to.


The day had come when Janet’s hard work was finally going to pay off.  During the last 12 years she had completed a degree in biology, achieved an MD, and was now about to finish four years of residency.  The hundred plus hour weeks of studying and working were about to come to an end.  A new chapter was beginning as Janet was set to start a new job as an attending physician at a hospital in her hometown on Monday.

She was excited to be going back home and surrounded by family that she had missed during her years of education and training.  Finally, her life was beginning to slow...

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Developing Debt-Free Millionaire Doctor Habits

If we only had five minutes to provide guidance on how to succeed not only with your finances, but with life in general, we’d tell you the three most critical factors to success are: 

  1. Who you marry.
  2. Who you spend most of your time with.
  3. Your habits.

The first two, especially number one, are hard to “fix” on your own, and we’ll discuss both of them in future blog posts so let’s start with the “easiest” one of the three – your habits. 

We are what we repeatedly do.  Excellence, then, is not an act, but a habit.



What’s below the surface matters most.

Our lives in many ways are like an iceberg.  A typical iceberg has 90% of its volume under water and out of sight.  One thought that comes quickly to mind is how much this analogy is like social media in that only a very small percentage of our lives are visible online – usually just the good stuff.  We, like you I’m...

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Debt and Marriage: A Deadly Combination

One of the greatest things in life is marriage.  When you find someone to share your life with you become a more complete person.  However, marriage is also one of the greatest challenges in life, and when you throw money issues into the mix it’s no surprise that one of the top reasons for divorce is money fights.

Those fights are not regarding having too much money:-), but are centered on challenges primarily related to debt and having too little money to cover monthly bills.  Arguments about money is by far the top predictor of divorce, according to Sonya Britt-Lutter, assistant professor family studies and human services and program director of personal financial planning at Kansas State University.  She was one of the researchers who conducted a study using longitudinal data from more than 4,500 couples as part of the National Survey of Families and Households.  In their study the researchers controlled for income, debt, and net worth and the...

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Top 10 Reasons to Become Debt-Free

Debt is a lot like smoking or excessive drinking.  We all know both are bad for you, but often it can take years, sometimes even decades, before cigarettes and alcohol start to have a significant effect on your health.  Short term it doesn’t seem like it could be a terminal decision, but as the years tick by the cumulative effects start to surface.

In much the same way as smoking and drinking play into your long-term physical health, debt can also affect your long-term financial health.  Few credible people would argue excessive debt is helpful to your financial future.  However, this hasn’t stopped many from borrowing heavily in the early years of their educational and professional career leading to decades spent paying off debt, and for some even into retirement. 

We’ve never met anyone who set a goal to retire with debt, however, we do know many who are still working and not retired because they have debt! 

This post focuses on...

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Busting the Millionaire Myths

A myth is a belief that is widely held but false, and in this post we aim to bust a number of myths related to millionaires.  Our purpose in doing so is to boost your confidence in becoming a millionaire long before you hit retirement age.  If there ever was a profession that should have the highest percentage of millionaires it’s doctors, and as we review the myths you will begin to see you can do this.  You can become not only a millionaire, but better yet, a debt-free millionaire!


What is a millionaire?

Before we address the myths, it’s essential to make sure you truly understand the definition of a millionaire.  This seems like something everyone should know, but many have a false definition of what it takes to be called a millionaire. 

The most common misinterpretation is that a millionaire is someone who earns an annual salary of a million dollars or more per year.  While earning a big salary could lead to becoming a millionaire...

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The 4 Vital Mindsets Leading to Debt Freedom

Mindset (mind-set) noun.  1. a mental attitude or inclination. 2. a fixed state of mind.

Every journey begins with a single step.  Getting free from your debt is perhaps one of the most challenging journeys you may ever take, but once you get started and begin to build momentum, fear and frustration begin to diminish and excitement and energy set in to power your future steps as you gain traction. 

Are you ready to take your first steps?  If so, let’s get started!

In this post we’ll discuss four vital mindsets that you need to begin the journey to debt freedom.  Even though we describe these as mindsets you need to begin the journey they will be a constant part of your path to building and maintaining wealth. 


Mindset 1: Decide you want to do it.

Do you remember the day you decided to go to medical school?  Without making that decision you would not be where you are today.  Your career as a physician...

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