Paging Financial Freedom
Paging Financial Freedom
Podcast Description
This podcast is about empowering doctors and their spouses to break free from the golden handcuffs of medicine by building wealth through real estate and smart financial strategies. Through our personal journeys and hard-won lessons, we share practical tools to help you create more freedom, flexibility, and control over your time and future.
Podcast Insights
Content Themes
The podcast focuses on empowering medical professionals by discussing wealth-building strategies, financial literacy, and real estate investment opportunities. Episodes cover topics such as transitioning from traditional medical roles to flexible careers, tax-saving strategies, and practical tools for financial independence, with example discussions including Dr. Shin's shift from surgery to part-time practice and Lila's experiences in real estate.
This podcast is about empowering doctors and their spouses to break free from the golden handcuffs of medicine by building wealth through real estate and smart financial strategies. Through our personal journeys and hard-won lessons, we share practical tools to help you create more freedom, flexibility, and control over your time and future.
In this episode of Paging Financial Freedom, Dr. Daniel Shin, a surgeon and real estate investor, and Lila Kaplan, a former Wall Street professional and certified financial planner, dive into the financial traps doctors face during residency—and how to avoid them. Together, they share personal stories, hard-earned lessons, and practical strategies to help residents and their spouses build a foundation for financial freedom.
The conversation uncovers the realities of low residency pay, mounting student debt, and the predatory financial advisors who target young doctors. Dr. Shin reflects on his own struggles during residency and how small, consistent investments added up over time, while Lila shares a shocking story of a financial advisor with 13 violations who scammed countless doctors. They emphasize the importance of financial literacy, protecting yourself from bad advice, and starting small with savings and tax-advantaged accounts.
With perspectives from both a doctor and a spouse, Daniel and Lila highlight how even small steps—like investing $100 per paycheck or avoiding lifestyle creep—can set doctors up for long-term success. Their mission is clear: to give medical families the tools to take control of their financial future and retire on their own terms.
Key Takeaways:
00:01 – Introduction to the podcast and the hosts’ mission to help doctors and spouses achieve financial freedom.
01:14 – Why medical training leaves doctors unprepared for financial security.
03:35 – Lila’s eye-opening realization about her husband’s low residency salary and debt load.
06:19 – The story of “Frank,” a financial advisor who scammed doctors—and how to spot red flags using FINRA BrokerCheck.
09:07 – The four major financial pitfalls for doctors: whole life insurance, fee-heavy advisors, predatory debt, and lifestyle creep.
12:52 – Simple strategies residents can start today: automatic savings, Roth IRAs, 403(b) contributions, and avoiding lifestyle inflation.
17:59 – Why starting early, even with small amounts, gives doctors a powerful head start toward financial freedom.
18:23 – Final takeaways: financial freedom begins with small, consistent money moves during training.
Links Mentioned in the Episode:
- Paging Financial Freedom Podcast on Spotify & Apple Podcasts
- Learn more about Dr. Daniel Shin’s Real Estate Fund: CereusRealEstate.com
- Learn more about Lila Kaplan’s real estate investment management company: https://silverbackequitypartners.com/
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