Financial Mistakes to Avoid as a Student ft. Dr. Cellini | Beyond the Scope | ND MD
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- เผยแพร่เมื่อ 24 พ.ย. 2024
- Welcome to the Beyond the Scope Podcast presented by ND MD. This podcast continues the mission of sharing the incredible stories and experiences of students, physicians, and healthcare professionals...but this time it's all about the things all those years of medical training doesn't prepare you for. Things that are beyond the scope of our practice. Whether it's navigating starting a family as a medical student or physician, or learning how to invest as a student, the goal is to bring on incredible guests who can guide you through those puzzling questions. Today we have an incredible mentor, TH-camr, and double boarded diagnostic and interventional radiologist on the show, Dr. Michael Cellini. In addition to his passion for medicine, Dr. Cellini has actively pursued his passion in finance and real estate as his medical training progressed. Now as an attending physician, he looks back and gives advice on the financial mistakes to avoid as a student, whether you are a high school student, pre-med in college, current medical student, or even medical resident.
Cover Art by Grace Oh
[S1:E8]
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I swear me and Dr. Cellini could bro talk it out about absolute nonsense for like 3 hours if we didn't have any structure lol
🎉🎉😮😮😮😮😮😮😮😅😅😅o😅😮
🎉😅😅😮😮😮
Thanks for having me! Looking forward to doing another one in the future.
Next time we’ll just livestream and have the chat comment what to talk about😂
Want to say this wasnt DRY at all! Such great insight and information!
@@NDMD I wanted to second that the "dry" part was actually incredibly interesting. I'd really like to know more about IRA, 401k, "Roth". That was the most interesting part for me, in fact. The strategy around taxation made a ton of sense, and finances/taxes usually make no sense to me whatsoever. Great stuff!
Talking to or listening to Dr Cellini is like talking to your older bro.
I could not possibly agree more about how tough it is to be in a major city in the medical field.
As someone who is currently applying to med school this is so helpful. Thanks for the content and good luck to everyone on this journey too 💜
Def check out the WCI as someone in a similar position as you :)
15 minutes into my first Trauma call at JHMC in NY I was dealing with a dual victim gunshot wound from a drive by on Van Wyck with another arriving DOA. Really opens your eyes to "I have to be on my game at all times"
What's jhmc?
@@Ahn-mu3db Jamaica Hospital Medical Center :)
These podcasters are off to a good start. In time, maybe they’ll also have listeners feeling as though they’re in a break room with a doc who shares food for thought, and also his bagel.
Was looking up ROTH IRA/401k stuff yesterday for the first time, and coincidentally stumbled upon this video today! I appreciate you addressing these topics for beginners - thanks!
Not a financial nerd, TRUST MEE. Trying to learn and really enjoyed this interview.
Another great podcast episode and great topic. I really did end up going on a deep Google search about all these loan repayment programs lol. I just got into finance/investing over the pandemic so I was really looking forward to an episode about money and loans in medical school.
Awesome video! This is a topic I’m super passionate about and I do believe all medical students should learn and start investing as soon as possible even if it’s just fractional shares to 1. Become financially literate and 2. Become financially independent enough to outpace loan interest rates
glad you enjoyed the vid!
whitecoatinvestor bogleheads whitecoatinvestor bogleheads whitecoatinvestor bogleheads. Those are really good places to start and ask questions.
My coworker graduated from ucla som way back when and it was 3k!
Thank you!! This was very interesting and insightful!
Perfect video, guys...really helpfull... looking forward for another video with Dr. Cellini❤️
Is it smart to work for a few years in another career to save up for med school? Money vs. time. What are your thoughts?
Terrible idea. Just get thru medical school/training as fast as you can. Every year you delay before becoming an attending you are missing out on attending salary
That’s literally what Dr. Cellini did, it’s all up to you!
Surgical internship in NY sounds rough
Awesome video
Congrats on 100k!!
amazing vid thanks!
Oh I didn't even realize he did some post bacc at KSU haha
great podcast!
I keep forgetting to pause whenever it's mentioned but what is the repeatedly mentioned book called again?
The White Coat Investor
If you came into $200k, why wouldn’t you just put it in some kind of interest-bearing account that you can dip funds out of at will, and pay for your med school tuition and living expenses while you are still in school?
What’s the plan to come across $200k? Please let me know so I can join you 😂
Also, why do so many people believe that real estate investing is like guaranteed money?
timestamp 18:17 Assume that student loan companies will charge you a much much higher rate, well above regular consumer loans. Why because they can and 70% of med school students do not have a choice. You might not have been offered an 8% rate, you are in Georgia, but someone on the West coast or East coast has. The middle of the country has cheap state medical schools. not necessarily so on the coasts.
It’s funny that he doesn’t know he’s a celebrity to us.
One thing they DON’T tell you if you have $200,000.00 wiped off your loan is
YOU ARE SCREWED TAX WISE!!!!
YO END UP OWING THE IRS AND STATE $80,000+ IN TAXES!!!
DO NOT LISTEN TO THIS GUY!!!
(Make sure you live in a state that does not have state tax like TX, FL, etc.).
BECAUSE WHEN YOU GET $200,000 in loans forgiven - that you can pay over 15 years - YOU WILL BE IN FINANCIAL DISTRESS WHEN THAT 1099 gets sent to you in the mail and you have to put $200,000 in INCOME - along with your regular salary on your tax return.
This is only good for people AFTER 2017 who have loans taken out - there is tax forgiveness. Pre 2017 there is NO FORGIVENESS. And if the law changes and reverts back; you are screwed.
The investment strategies were horribly oversimplified, investing is not that straightforward, especially in real estate. Maybe look into reits or other index based real estate if you’re giving basic investment suggestions
don't listen to this guy
you're probably right
Hahahha
LOL