Are you revved up to get started on your journey to become debt-free?!?! Can you already feel the grass between your toes walking through the yard of your paid-off house and being able to scream, “I’m a debt-free millionaire!”. Can you see the dream becoming reality on the day when you will be able to do whatever you want to do, instead of doing what you have to do? We can assure you that when that day comes you will have become a transformed person – one who thinks and acts differently when it comes to your life and money.
So how revved up is your spouse? Do you have more excitement about the journey than he or she does? Don’t worry, you’re not alone if he or she is not jumping up-and-down with excitement to start the journey. In fact, it’s quite normal one of you is not totally committed to taking the first step, or any steps for that matter, in freedom from your debt.
A common challenge...
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...
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...
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.
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...