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I listened to WCI and now I'm broke!

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  • I listened to WCI and now I'm broke!

    I started reading WCI in residency around 2012 with a net worth in the ballpark of -150k, finished training last year around -90k. Kept on living like a resident and as of today I'm happily worth a little over $0! Thanks Jim!

  • #2
    Well-played (x2) and congrats!

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    • #3
      Great work!
      Welcome to ground zero.
      Keep up the work and you will be a millionaire before you know it. Love the funny title. Click bait! Maybe you could write a guest post about this with more details?

      Comment


      • #4




        Great work!
        Welcome to ground zero.
        Keep up the work and you will be a millionaire before you know it. Love the funny title. Click bait! Maybe you could write a guest post about this with more details?
        Click to expand...


        Yeah I did the click bait in hopes WCI would actually see my thank you. I know it's a for profit blog but everyone likes to know they're doing more than just earning a paycheck. A guest post would be a boring one: moonlight as much as you can safely, budget intentionally (I have used Mint for years and it works well for me), use the surplus to move forward financially based on your goals (debt payments, savings, home etc). Give some to charity or tithe to your church; it makes you look at money differently in a way I can't explain.

        I refinanced into a short term student loan with a high monthly payment on auto draft to help prevent lifestyle creep. Made extra payments when I could. Half of my gain was paying down the loan, the other half was split amongst retirement account savings and growth and our home.

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        • #5
           

          You have to go through zero to get to a million.

          Your story might seem boring to you, but many people find it inspiring. Think of it like the Dave Ramsey "I'm Debt Free!" screams. If you want to write it up, I'll bet it will be good enough to publish. I'll help with the editing.

           
          Helping those who wear the white coat get a fair shake on Wall Street since 2011

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          • #6
            Nice post lol

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            • #7
              Congratulations on becoming broke! Nice work on the clever title and the great financial victory.

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              • #8




                I started reading WCI in residency around 2012 with a net worth in the ballpark of -150k, finished training last year around -90k. Kept on living like a resident and as of today I’m happily worth a little over $0! Thanks Jim!
                Click to expand...


                18-month follow up:

                For the first time ever, I’ve filled his/hers backdoor Roth IRAs and maxed my 401k before February 1st! Net worth broke 500k in November, about the same time the student loan balance hit $0. It works if you work it.  Thanks again WCI!

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                • #9
                  Rags to riches!

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                  • #10







                    I started reading WCI in residency around 2012 with a net worth in the ballpark of -150k, finished training last year around -90k. Kept on living like a resident and as of today I’m happily worth a little over $0! Thanks Jim!
                    Click to expand…


                    18-month follow up:

                    For the first time ever, I’ve filled his/hers backdoor Roth IRAs and maxed my 401k before February 1st! Net worth broke 500k in November, about the same time the student loan balance hit $0. It works if you work it.  Thanks again WCI!
                    Click to expand...


                    Congratulations! So nice to read a follow-up. Wish more people would post their success stories.
                    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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                    • #11
                      and that is how you dominate.  Strong work

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                      • #12
                        Gulp, 8 or 9 digits next?
                        Awesome!

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                        • #13
                          Congratulations! As Jim said, "You have to go through zero to get to a million."

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                          • #14
                            Strong work. I literally laughed out loud. keep up the good work!!!

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                            • #15
                              Woot!

                              We hit net worth 0 on 11/22/18. Not like a took a screen shot of my mint and saved it to a file or anything.....

                              Started working my first job out of dental school August of '17. Not completely fair though since I had a sugar-momma wife who was working as an engineer while I was in dental school. I think we graduated with a net worth around -150k.


                              Once I finish paying off student loans I think we will regrettably have to upgrade from my '97 Accord that has treated me so well over these year.

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