When faced with a decision that has multiple options, the most common route is to make no decision at all. Most people prefer indecision to take action when they’re presented with two seemingly equal choices. This was shown in the famous Jam Experiment and resulted in what is now called Analysis Paralysis. This is exactly what happens when The Physician Philosopher readers ask about investing versus paying off debt. And it is exactly why I created an online course called Medical Degree to Financially Free (MDFF) to solve the problem of indecision.
Before the release to the public, I first opened up MDFF as a Beta version at a discounted price (one of the perks of being on my email list). During the Beta, 10 students went through to make improvements and to round the edges.
Then, I opened it up to the public via a live launch where it was only on sale for only two weeks.
Eighty students later, and the course is now well-built and functions exactly as it should, making analysis paralysis a thing of the past as I created a step-by-step set of directions that – if followed – will result in automatic financial freedom for you and your family.
Now there was a new problem.
The course was wildly successful, but it was only on sale for a limited amount of time. Then, I had residents and new attending physicians reaching out to ask if they could buy the course, but it was no longer on sale.
As part of this, anyone who now signs up for The Physician Philosopher email list (found at the bottom of this post) will also receive access to an On-Demand Webinar called The 3 Myths to Finding Financial Freedom.
Invest or Pay Down Debt? Solving Analysis Paralysis
Let’s be clear.
When you get to the point where you are asking whether you should invest or pay down debt with the money you have saved, you are already winning. Period.
That doesn’t answer the question, though, and it leaves most people stuck in indecision. Having seen this problem a hundred times, I created Medical Degree to Financially Free to provide clear and concise directions on the best order in which to pay off debt and invest in your future.
In the course, I created The Cash Flow Waterfall, which describes the best way to pay down your debt and invest in a physician-specific order. No more indecision. Just follow The Cash Flow Waterfall.
There are other talking heads out there who offer advice in this realm, most notably Dave Ramsey. However, his advice is not only lacking specificity for physicians, it is actually bad advice for us. Seriously.
This is why you need physician-specific advice to help you figure all of this stuff out.
What do the MD to Financially Free Alumni have to say?
Before I show you what is in the course, why don’t we talk about what you really want to know. Eighty other students took the course. What did they think?
Don’t take it from me… let’s hear from them.
I had been reading the physician finance blogosphere for months when I happened on this course. I can’t say enough how helpful it was to help get organized, even as someone who is fairly well-informed. The lessons are straightforward and build on each other nicely. I may decide to take other personal finance courses in future but honestly, not sure a person needs to after this. ~Hayley (EM Doc)
This course has really opened my eyes and changed my life. I never really thought about finances and retirement until later in my career and life. I just put my head in the sand. Jimmy was able to show me that I can retire with the proper plan and discipline and that I am on the road to financial freedom. Sure I am late to the game but a plan is now in place. He is always available to answer questions and the office hours are great! I highly recommend this course! ~Michael Dobrow, DO (Pain Doc)
A fantastic course for MDs wanting to become more educated and confident in navigating their road to financial independence (even if you are a novice at financial stuff) and not just rely on a third party. You’ll discover what is important to you and learn the tools to get there! ~ Christina C. (Allergy and Immunology Doc)
The MD to Financially Free course couldn’t have come at a better time. Starting to feel financially strapped and stretched, the course allowed me to focus on my cashflow and where exactly everything was going. Averse to traditional budgeting, it showed me where I had room to improve cashflow and got me on a road to crushing debt. I highly recommend it for any physician who feels overwhelmed by their debt burden. ~Scott W. (Anesthesiologist)
For more testimonials, click here to view the MD to Financially Free page.
What is Your Teaching Style in MDFF?
There are two reasons that I won the Golden Apple – awarded to the best teacher in the department as voted on by the residents – in my first year as an attending physician, which had never been done before. It is the same reason I had the top teaching evaluations for the department in my third year.
First, I care deeply about my students and residents. Granting them autonomy, and encouraging them to do hard things (because we can do hard things) while providing support allows them to ask tough questions without ever feeling judged. They know at a visceral level that I am invested in their success.
Second, my calling card is making complicated concepts simple. This is why the subtitle of my book is “The 20% of Personal Finance Doctors Need to Know to Get 80% of the Results.”
The focus of MDFF is a “how-to” course that guides you step-by-step through creating a cash flow plan that will help you pay down your debt, invest toward your individualized goals, and create the financial freedom you deserve.
This is what makes Medical Degree to Financially Free different, too.
Because I care about my students, I decided that even though I am going to make this course available year-round, I didn’t want to take away the live interaction the MDFF students get with me inside the course. I am still invested in your success!
This means that I am still offering weekly LIVE office hours in Q&A format inside the private Facebook Group that you can access as an MDFF student. Oh, and you get access to that Facebook Group for as long as it exists! So, you get the Live Q&A office hours for as long as you want/need them.
The Medical Degree to Financially Free Facebook Group also allows for community and accountability as other students are going through (or have previously completed) the course. Do you have any questions? The community has answers.
As for making things simple, I teach you only what you need to know. And it is taught in engaging whiteboard style presentations as opposed to typical PowerPoint lectures.
Everything is taught in a step-by-step process that builds on what you previously accomplished to get you closer and closer to your goals until everything is set in place. Then, you get to enjoy your Cash Flow Plan that will lead to automatic financial freedom.
What is offered in Medical Degree to Financially Free?
Here is what is offered:
- A 5-week step-by-step course.
- Weekly Live Q&A Office Hours.
- Additional Bonus Interviews with Content Experts including Ryan Inman on Life Planning, Sarah Catherine Gutierrez CFP on Cash Flow Planning, Justin Harvey CFP on student loans, and Larry Keller on Asset Protection.
- Downloadable content with each lecture (worksheets, calculators, etc).
- White Board style teaching of the concepts.
- All content is consumable in visual, audio, and plain-text formats.
- Private Facebook Community for MDFF Students.
- Lifetime access to the Facebook Group so long as it exists where the weekly Office Hours are offered.
Oh, and the course has a 14-day no-questions-asked money-back guarantee. You just have to ask for a refund before the start of Module 3. How’s that for no risk?
The 3 Myths to Finding Financial Freedom Webinar
Because everything above wasn’t enough, I also decided to edit a webinar and turn it into a FREE On-Demand Webinar for anyone who signs up for The Physician Philosopher email list. We discuss the course at the end, but there is also free value in the webinar.
So, if you are interested in watching the webinar, make sure to sign up for The Physician Philosopher email list. Then, you’ll be granted immediate access.
See you inside!
Are you thinking about enrolling in Medical Degree to Financially Free? Have questions?
Leave them below!