The SECRET to NOT Being a Broke Doctor

[@DebtFreeDoctorJeffAnzalone]

Thanks for linking my KevinMD article about HENRY's!

[@DrCellini]

Ayyyye!! Loved the article! Had no idea you were on KZbin.

[@DebtFreeDoctorJeffAnzalone]

@@DrCellini I'd like to interview you on my channel.

[@ronalowy5552]

Great message and explained so clearly. Old Jewish saying : "Who is a rich person? The one who is satisfied with what they have."

[@sallythibodeaux7992]

So many people live beyond their means putting wants before needs. I see it everyday in people I know. They ask for advice but don’t want to make changes to be financially stable. So sad.

[@junierinrunescape]

"Work isn't so bad when you don't HAVE to work." So true, make most of my money on stocks so when I get a low or no tip on my server job, I find I don't really care much anymore. Sometimes sucks when you're the only one in a good mood coming into work lol

[@vickiecoles8214]

I’ve been a CST for 18 years and have worked with more than a handful of surgeons that live paycheck to paycheck. Oddly enough, at a tenth of their salary I had more savings than they did.

[@cameronvonk7235]

The broke new grad nurse appreciates this! Even though we are saving hard to change that!

[@DrCellini]

Haha glad you enjoyed it!

[@monicaperez2843]

I budget for everything. Just because I have the money, I do not feel the obligation to spend it. I live a simple lifestyle by choice.

[@kristyboule8768]

I may have clicked on this video, ready to be angry at this doctor telling people how to not be broke when doctors obviously make a lot of money. But I’m not mad anymore! Awesome content, great video with good points

[@sweetdoc1472]

Quite a lot of doctors are living below the economic means of their peers who graduated from other careers ans also doctors work way more hours so compensation per hour...it isnt astronomical like ppl think. Particularly if you arent in the US

[@rebeccareynolds6235]

I am in the process of re-evaluating my spending habits so I found this video incredibly heloful! I especially love how you repeated the same core message. This helped drill home the point and will stay with me. thank you!

[@dr.desta_seba]

Important message!...poor finincial decision...you said it so many times!

[@DrCellini]

Facts!

[@woodychan3225]

Been following your channel since I was a student. This is a great video!

[@JosiahHenry7]

Trust me, never fall for the marble or cards game at a populated event! Lost 300 dollars as an 18 year old simply because I didn’t listen to those around me and not give up my own money! My idea was to take their 300 dollars (cash) and not play the game, but in doing so it started the game. I wasn’t planning on playing, but stopping others from playing and I played. Smh 19 now with so many outlets of investment, that I’m certain I’ll make back that 300 100 fold. Great advice Dr. Cellini, keep up the great work!

[@JC-fm2rh]

Great video. Best advice I've heard from attendings is to live like a resident for the first couple years with attending money and hire a financial advisor.

[@ItsWhoIAmItsHowILive]

We lived without one bedroom light for 12 years under the assumption that we didn’t have any money, but as I grew older I understood that it was just a lack of priorities.

[@alexacarrillo4339]

My husband is a pretty high earner(not a Dr)and we make good financial decisions but our medical bills eat up so much of his salary due to things like my chronic migraines and his cancer. At least we currently aren’t underwater with our house(2008 taught me that even with 20% down and years of payment properties can become dang near worthless at times), own all our cars outright, have no student loans for us but the kids are hitting college(that is due to family support and luck so I am not bashing anyone that does), and we are overall boring(no fancy vacations etc). There is a degree of luck in where we are financially mixed with good decisions but medical bills are our bad luck. Sadly I see many people not understanding the hidden costs of certain things like the cell phone mentioned. My daughter’s financial literacy in high school class was a shit show of bad information and since she is who she is she researched everything they were told and broke it down as to if it was good.

[@CurseTheDarkness]

I was fortunate enough to marry a wife that shares my view of saving. Paid off my med school loans early and are well on our way with retirement savings. But my residency director passed on his words of wisdom “you can marry a rich girl as well as you can marry a poor girl”.

[@lindawhite5006]

I retired on disability. My income is less than half per month as I made working. I scraped and did without and paid all my debt (except my low interest mortgage) off. I drive a 20 yr old car that has been well maintained and still runs well and gets good fuel mileage. My entertainment is Netflix, Amazon Prime TV (it's the same $$ as cable with more choices), you tube, reading, etc. I have time to cook at home and eat better. Going into disability was very scary for me! I didn't think I could survive on 1/2 of the income I was used to. But I had no choice. What I have discovered is...I don't require every thing I thought I needed. My life is so much more simpler and peaceful now. I no longer go "shopping" just to "look" at what's available, which I in the past would buy. I no longer desire all of that. I shop with a LIST and CASH. For the first time in my life I can say I am content and happy! And I thank GOD for this every single day!

[@ItsWhoIAmItsHowILive]

My software engineer manager friend was a mentor for the fresh grads because they all had a problem with spending all of their money.

[@sandylewis8897]

Yup -- it's not what you make but what you spend. Dad always said if you make $10, you spend only $5!!

[@nibor110]

Brilliant, wish more people understood this!

[@CelliniRounds]

Assets > liabilities

[@DrCellini]

facts

[@terryheaton31]

Live below your means; invest the difference.

[@JimYeats]

It's not how much you make, it's how much you spend.

[@JohnnyDaines]

It’s not about how much you earn but how much you spend!

[@sibongilegumede07]

Great video Dr Cellini

[@mohamedosama3605]

*Cries in non-American doctor salary*

[@sriramrao188]

The title made me think you were gonna open with avocado toast haha

[@DrCellini]

Lol what

[@megancohannah3423]

Ahh. Yes I fell into the money trap not to long ago. Financed a fridge, mattresses. A computer chair, husband's subs. All because it was interest free. 🙄 it got to the point we failed to notice how much I was per month. Luckily we paid it off and learned our lesson. But yes. It will sneak up on you!

[@winchey8053]

👋I have a question Dr. Cellini. Does an interventional radiologist like you also perform cardiac stenting or clot removal during a stroke or is this type of procedure only performed by an interventional cardiologist and a radiologist specialized in invasive neuroradiology ? thanks to my favorite youtuber

[@murraysolomon4924]

In the past cardiac radiologists would enter the coronary arteries but today interventional cardiologists enter the coronary arteries and place coronary stents and perform coronary angioplasties

[@alanawilson9027]

Will you be doing more on call/day in the life as a doctor videos? Love these from you!!

[@bobfg3130]

The amount of money you makes DOES matter. There's a point where you're not making enough to cover basic living expenses. Yes, 70% of Americans are living paycheck to paycheck. That's because they don't get paid enough to live properly. Also, the price of a product doesn't always show its quality. Luxury brands are usually poor value for money. Most of the time you can get the same or almost the same for far less. You've mentioned cars. Audi, Mercedes and BMW are probably the most overpriced products on the market. Also, an Audi R8 might sound nice and you might think you deserve it but you're not enjoying it properly or getting your money's worth if you're not taking it to a track day. Track days cost money and if you can't afford them you shouldn't buy the car. This also goes for Audi RS cars, BMW M cars and Mercedes AMGs and especially for Ferraris, Lamborghinis, Porsches and other cars like those. Yes, spending less than you make is a good idea. You can have some savings and also invest. Only investing in real estate has some big risks. Real estate works in a boom bust cycle. Basically if you're making money monthly out of your houses or apartments and are satisfied with the amount of money you make be prepared to NOT make that amount of money. Also, things change in the real estate market too. Working from home has changed a lot of things. Many office buildings will NOT get tenants and they are modified into residential buildings which will lead to more competition for residential buildings and smaller rents. This IS permanent. You need to adapt. As for having so much money as to not have to work....that's what is known as financial independence in some circles. You need a really good margin for that. Many have obtained it and have retired early....at least partially anyway. The FIRE movement has become somewhat popular. The "Financial Independence Retire Early" movement has been getting more and more people involved lately. Thing is if there's a financial crash this movement gets hit. Many people that have retired early have started working again because they were running out of money. Most of these people relied on the stock market but many relied on real estate too. When a financial crash appears many start moving in with their families again and that means there will ge fewer tenants and you will have to lower the rent to get tenants or be stuck with a house or apartment that doesn't generate any money. There goes your financial independence. On the upside, it's the right time to invest in the stock market now that it's down. A safer option would be index funds but if you study a company and the market it's in you can invest in it too.

[@Ms.Opinionated]

Hi Dr. C! Do NBA teams have radiologists on staff at the games? GP II elbow fracture was already x-rayed and diagnosed before Grizzlie game was at half time. One Love

[@mjradi4371]

Hi Michael Great video - as always. When will you start doing vlogs like you used to? I understand you are at a new place and it may be different, but the style of your previous videos (which got the most videos) are missed. Thanks for the content.

[@ItsWhoIAmItsHowILive]

I was poor my whole life. I like nice things but I still assume I don’t have any money. It’s hard to buy things that are considered a non-necessity. My coworkers drive Audi… I drive RAV4…

[@cooperdabest]

Thank the Lord for Dr Cellini

[@DrCellini]

haha

[@lipman19]

These messages are always so confusing to me. 1. Don't spend more than you make =I feel like this is an over simplified term for an extremely complex topic. A lot of people don't have this luxury. Shouldn't the lesson involve how to get to the point where this is feasible? 2. Invest in stocks or real estate. =Awesome advice if you have the disposable income to even consider this. Also the amount of knowledge to do this even if you have the income is pretty dense. I don't even know where I would begin to learn how to do this without investing poorly which imo would leave you worse off vs not doing it at all.

[@cactiish]

Great advice 👍

[@bigdogfromnj]

Great video I'm not a doctor so I always felt like doctors never go broke

[@gdaymates431]

I love living within my means and saving half of my pay so that I have a lot of savings to spend when I want to. That to me = true freedom.

[@KAE-wo6uq]

I wish I could like this video a million times most definitely deserves it.

[@x9841]

:) I have a medical question! Since September last year, I've been having episodes where I get lots of chest pain,I struggle to breathe, I have pins and needles and then I faint. I've been in and out of hospital for weeks, but no one can figure out what's wrong with me. I now have a blood pressure of usually 140 - 169/ 90 -106 What do you think that it may be???? Edit: I am only 14 and it's making quite a big impact on my learning as I have one nearly every day

[@ellencunningham9790]

You are right thank you

[@hubsanrcproductions7222]

Doctors won't get paid a lot of money until they pay off their student loans.

[@Love-ql7rd]

Thanks! Sharing with my children!! Good material!

[@DrCellini]

thanks!

[@rtox99]

I wanna see them fools mad when my jaguar pulls in the parking lot lol

[@PeterJ_88]

Love this. Your cheap boots analogy reminds me of the saying "buy cheap, buy twice" I am finally not a HENRY and it feels great.

[@paulklemer]

Are there doctors who live in their cars?

[@sudhirkathuria1259]

I like your content but constant video zoom jumps make me dizzy …do we really need this feature ? Thanks

[@monicaperez2843]

Consider myself and others' worth as "priceless", because we are all G_D's children.

[@murraysolomon4924]

One wife, one house will go a long way to financial security.

[@environmentalnews6040]

Easy for you, you were blessed w/ good genes.

[@Pathologymadesimple]

I know exactly why I am broke

[@reddbendd]

Rich people hide that they are rich

[@jakedifatta]

But I want to buy $100k diamond chains with my attending paycheck one day 😩😩

[@livinglife7515]

😂😂🤣

[@sublingnitro]

Early to the vid!

[@DrCellini]

Lesssgoo!

[@valwallace7322]

So true omg

[@fit2day239]

Amen!!!!

[@memcore1312]

landlords perpetuate poverty

[@bbaron1]

i never understood why people with relatively steady high paying jobs make huge financial investments in things like crypto or stocks. bird in the hand worth two in the bush or whatever idk lol. maybe thats why im not rich lmao

[@kingvolt8694]

to make more money and have your future generations in a great position.

[@bbaron1]

@@kingvolt8694 oh that is a good point. seems like an unreliable way to invest in the future though. but who am i to say what good financial behavior is

[@reanne9356]

New editor?

[@jaymata1218]

I just wanna make enough to afford Door Dash

[@thingsiforwarded5014]

Hey

[@hhfamily2058]

DAVE RAMSEY

[@ginaashman8849]

Ouch!!!! The truth hurts but the understanding is healing❤️‍🩹 You told the truth about financial foolish ways. I believe Most of Americans are caught up in this spend all you make or don’t make game. Thank you for explaining so plainly. Time for change. Definitely starts with mindset change and a lot of prayer for me.