Finances 80/20 - How I Paid Off My Med School Loans & Investing Strategy

When it comes to money, there's a lot of noise, not a lot of signal. After years of reading intensely about personal finance optimization and investing, this is the system that works best for me.
🌍 Website & blog - medschoolinsiders.com
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🎥 My KZbin Gear: kit.co/kevinjubbalmd/
👀 Hand Picked Productivity Tools: www.amazon.com/shop/medschool...
🎵My Study Playlist: open.spotify.com/user/1231934...
TIMESTAMPS:
3:51 - My Approach to Finances in College & Medical School
7:06 - How I Recommend You Approach Finances
09:06 - My Current Approach
LINKS FROM VIDEO:
I Will Teach You To Be Rich: geni.us/HGGnz
Boglehead's Guide to Investing: geni.us/3BpWp
White Coat Investor: geni.us/liMjA
Personal Capital: personalcapital.sjv.io/c/2938...
Mint: mint.com
I Will Teach You To Be Rich Book Summary: • I Will Teach You to Be...
Highest Paid Doctor Specialties: • Top 10 Highest Paid Do...
Doctor vs Engineer Financial Analysis: • Are Doctors Rich? $$$ ...
#personalfinance #studentloans #investing
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Disclaimer: This is NOT investing advice and I am not a financial expert. This is simply what worked best for me. Content of this video is my opinion and does not constitute medical advice. The content and associated links provide general information for general educational purposes only. Use of this information is strictly at your own risk. Kevin Jubbal, M.D. and Med School Insiders LLC will not assume any liability for direct or indirect losses or damages that may result from the use of information contained in this video including but not limited to economic loss, injury, illness or death. May include affiliate links to Amazon. As an Amazon Associate, I may earn a commission on qualifying purchases made through them (at no extra cost to you). Personal Capital Advisors Corporation (“PCAC”) compensates (“Company”) for new leads. (“Company”) is not an investment client of PCAC.

[@xXGurgleXx]

i love how raw this video is. really showed us a different side of you.

[@kevinjubbalmd]

when the inner grandpa comes out

[@John-cq3hk]

I feel like this is a "fire side chat" with Dr. Jubbal. Awesome

[@ClintVanHoff]

With all our schooling you would think they would give us more advice on finances. Great stuff here! thank you!

[@keshavk]

Your monologue at the beginning of this video prompted me to say this - thank you so much for the incredible advice you have given me over the years! I was just accepted to a medical school last week, and you were the primary reasons I was able to create a big picture strategy and follow through on it over these past five years, whether it was about grades, MCAT, research, extracurriculars, application writing, etc. If any current premeds are reading this, Kevin is the real deal! If you watch all of his videos and internalize not only his specific tactics, but his overall orientation towards life and work, you will be setting yourself up for success on this journey.

[@Mo-is9ko]

Thank you so much for this Kevin. I wish schools and universities taught this. You are the teacher we needed!

[@chelseafc5653]

Thanks Grandpa keep these typa videos coming

[@ORTHO_BASICS]

And here I thought I was crazy tracking every penny throughout college and now med school.. I’m not alone 😅

[@kevinjubbalmd]

We both crazy

[@reeeeeeee-e2g]

I only recently started tracking literally every penny 2 years ago. I have an excel sheet that has my income and expenses down to a T. If I go negative, meaning I've spent more than my income i highlight it with red and green otherwise. I don't regret it. "What gets measured, gets managed" as they say

[@robwes9227]

Engaging for the algorithm. Rock on, and as always, thanks Kevin for all you do.

[@billytessio6326]

I am an undergraduate student looking to go to one of the best medical schools in Canada. For 2 years so far, I'd been getting average grades 80-86%. Started third year summer science classes looking to get better before I apply to med, so I implemented your advice on active recall and spaced repetition... I'm getting world-beater grades now north of 95% on every exam with those class averages around 70%. Thanks so much!!

[@yourfuturedocburenbeiya]

Thank you as always, Dr. Jubbal! Btw, I love the quote on your shirt, so I just bought one from the website! :) So much for trying to save money lol but it's the least I can do to support your work! I've watched a lot of your videos and always try to implement it or rewatch them as a reminder. Thank you for making a difference!

[@ShaunAndersen]

Yooo awesome advice! Tracking expenses is huge, especially for us students! && Also, I am an incoming Medical Student here in Las Vegas! Would love to grab lunch or something sometime! 🙌🏻

[@DrAlfredNUmar]

Your changing the world Doc! Keep it up bro great 👍 job

[@Adrian-dr5ci]

MS here. Couldn't be more perfect timing. Actually looking to purchase a used car this summer. Going to dig more into the resources you provided. If you are wondering "man I hope this video really helps just one person". Yes, it did. That person is me haha. Also love these type of videos and I really enjoy seeing this side of you. Feels like we are all just hanging out. Hope you will do more videos like these in the future (and a podcast later this year too???). I'll be there!

[@nataleefr]

Hey doc, not a med student but thanks for the productivity and studying tips!

[@justme-ld9xz]

Yoo Kevin, interesting video. I guess I need to check out those books in the description bar. I tend to be quite impulsive when it comes to spending, but I'm fine with owning an older phone and just regular clothes and stuff. I might download that app too, might bring some awareness. Thanks dude, I enjoy your channels a lot 🤗

[@thunder8bunny]

"grandpa Jubbal"....cracked me up pronto XD always love your videos Kevin!

[@TheDentistryDiary]

Man your editing is legit cool 😁🙌

[@feiertag20]

You should do a video on your favorite books you’ve read!!love your content man keep it up

[@AbhishekDharan]

You won my subscription when I realized you're a fellow churner in medicine, entering ms3 year so hopefully I have time to watch more of your videos lol

[@kevinjubbalmd]

I love me some good butter

[@PhoenixBlade538]

Haha as soon as you plopped cross legged in your chair, I knew this was gonna be a great video

[@yusufqureshi9579]

Such great vibes from grandpa jubbal

[@marvinprempeh4438]

Energy on 💯,,,Keep it up king

[@Max-ej3po]

FIRE subreddit represent

[@future528score7]

Love this.

[@RhesusMedicine]

There should be courses on this in med school itself, would save a lot of students/doctors financial headaches in the future

[@bobmarlow8420]

Love your vids Kevin, would love to hear your opinion on online business and best way to approach them, I’m a 3rd year med student hoping to start something for myself

[@kanu6259]

This grandpa has a great voice! Btw love your videos!!

[@carsonswheels2134]

1:39 I made the video! Let's goo! 😂

[@maugraluna3836]

Very informative and straight forward

[@joshmcgoo]

commenting for the youtube algorithm

[@kevinjubbalmd]

MVP

[@rotinomaso]

If you had all the knowledge you currently have about personal finance optimization before starting med school what would you have done differently? Would you have started credit card churning or investing in index funds earlier?

[@kevinjubbalmd]

I would have starting putting money into index funds sooner, particularly into a Roth IRA when I was in college. That way some money would go towards my loans/tuition, and some money would go towards retirement accounts which are tax advantaged. I wish I started churning sooner than 2014, but it was better late than never. I wish I stopped being so frugal a bit sooner and started valuing my time more, maybe some time during medical school rather than just at the end of medical school (when I started using grocery delivery services)

[@reems4325]

Lol Kevin you look like you just took a couple hits of a blunt when you're tired at 1 a.m bro hahaha. Nice video!

[@heartcomedy5]

That’s what I was thinking.

[@greysongan3410]

Oh he definitely did

[@kevinjubbalmd]

Haha maybe if I did, I wouldn't have had issues falling asleep 😂

[@reems4325]

@@kevinjubbalmd hahahah same. I used to be a heavy smoker, but I stopped because of the weight gain. Have you ever tried marijuana? Would you use it recreationally?

[@MrM5exy]

Lovely. Thank you.

[@Shameless_Papist]

I should watch your study videos.

[@john119john]

great video, just note that risk is always something to be considered with investments. Even though and investment has a higher average rate of return doesn't necessarily mean it's a better investment against one with a lower rate of return and less risk. And on the contrary just because an investment has a lot of risk doesn't mean it should be avoided. Much has to do with the timeline and expectations of each investment. Generally speaking people try to reduce risk as they get closer to retirement.

[@enosestixreia]

Hey man, thanks for the great video, lens keeps getting out of focus though

[@brettlarson3801]

Appreciate you, Dr. Jubbal.

[@Lazzor5000]

Hey Kevin, is there any way you could make a video going in depth about some of the terms or a video tailored toward people starting their pre-med journey this upcoming fall as a freshmen. It'd be great to have some financial advice for some people who may not have tuition fully covered, or maybe even some advice on the best loans we should take out now and if we should do variable or fixed rates or defer payments etc. I'm a pre-med and i start fall 2020, but I'm still looking at ways to pay for college because I don't even have half of the cost covered. Thanks !!

[@js2156]

Dr. Jubbal, can you break down what % of your income approximately you send where and maybe go over the rationale? That's the part I find the most "gray" - saving up a decent emergency fund, and then what? How do you decide discretionary spending for fun vs. investing? Thanks!

[@Phenom161000]

I'm from Vegas too!

[@Rainbowofthefallen]

Just commenting for the algorithm 💙

[@healthyconsistency4748]

Grandpa Jubbal: "It's 1am and I'm.." Me: *First time watching you also up at 1 am worrying about finances with Match coming up next month*

[@ykonratev]

That logic applies to almost all of school...just learn on your own

[@King-zo4vv]

I’ve really been looking into investing fr

[@evelynndynes2677]

I need help establishing credit I’m 18 and it’s literally none existing, I tried doing a secured credit card and put down 200 but they didn’t accept me so I have no idea Wht to do now😓

[@petals9287]

HI DR! Hru. Nice video

[@Sunny-wb1op]

Is it okay to invest if you plan on going to medical school and having financial aid help pay for school?

[@SaSpursFan]

I thunk I have/had sleep onset insomnia. But I also have poor sleep hygiene. Right now I wake up at 5 to fast and that is the only thing that helps me sleep at 10:30

[@DFOlover1]

Hey Dr. Jubbal, if you don't mind me asking, what's your net income?

[@zeem316]

Where did you get that lamp in the background

[@art.65367]

I was never that grateful for not having to pay for med school in my country😅

[@Alexander-gx4cu]

KEVIN JEWBALLS

[@sarramerzougui7911]

Were you using blue light glasses?

[@aakashpatel8518]

we need more of this just talking hahaha

[@UneasyTortoise]

any tips on having income during medical school?

[@johnlabernik4599]

YNAB is the way to go

[@shantricejones5830]

I'm 29 and feel like I underperformed. I do save have a decent savings but i could be better. I only have 2 credit cards tho.

[@roman9509]

Grampa Jubbal? Keep in mind “you’re only mortal”

[@heartcomedy5]

Grandpa Juball 👨🏼‍🦳👨🏼‍🦳👨🏼‍🦳

[@taylormcmichael2246]

What specific stocks do you invest into?

[@hadibaianonie109]

Dr. Jubbal, did you complete Calculus 1 in high school? and if so do you remember which math you took in the freshmen year of high school. I'm currently a 7th grader and look up to you; any advice on how I can improve my chances of becoming successful to your level. if you can give me any advice i'm all ears..................... Thank You

[@zaviermagee8952]

AP classes help with hours for college but only if you get a qualifying score!

[@hadibaianonie109]

@@zaviermagee8952 Definitely good to kno

[@DiLLZGFX]

What's the good subreddit he recommended for personal finance thanks !

[@lunarstrom8160]

r/personalfinance and r/financialindependence

[@jamesjnrekow-annan667]

First view 😁

[@Ms.Opinionated]

70/20/10 = 70% income fund, 20% moderate, 10% international.... i have an annual ROI of about 7% to 10% every year.

[@victordiaz8985]

Can you tell us the apps you use lile memm, i dont found it

[@kevinjubbalmd]

Memm is coming out soon. Subscribe to our newsletter for updates

[@samfick4897]

🐐

[@SK-mr6ov]

Where did you go to medschool

[@i123456987654]

charles schwab sounds great for traveling internationally...maybe i should make an account with them...i can withdraw money from any atm around the world for free?

[@kerrington6]

I could’ve sworn in a previous video you never paid for tuition because you got full rides

[@kevinjubbalmd]

Scholarship in medical school covered tuition and part of living expenses. My loans were below average

[@SamianHQuazi]

@@kevinjubbalmd Are doctors' loans that bad? Sure, having $150k-200k sounds bad but when you make $200k-300k a year, it's probably pretty easy to pay off in a couple of years.

[@NerdyMuseAZN]

@@SamianHQuazi this is a question of intense interest vs. high tax bracket

[@hellotonygreen]

Why move to Vegas

[@sunflowers_n_coffee]

You should use your voice for voice overs and make money

[@J-jizzy_]

Right now isn’t a good time to be investing in stocks anyways. Wait for wave 2 fellas!

[@kevinjubbalmd]

Maybe. I'm not trying to time the market. I'm just auto investing a small amount every week, regardless of what's happening in the markets

[@johnkevin1104]

My parents and grandparents have been and are currently in creditcard debt. Not for me. Call it black and white but it's a generational curse and I would like it to end

[@dnm9931]

What is memm??

[@BollywoodMediaOnline]

10:27 why do you have 35 credit cards

[@kevinjubbalmd]

Check out my credit card churning playlist. I explain why

[@joaoaox5485]

Can a medical doctor have a slash career?

[@st3ady]

This is great. Let me know if you get started in real estate investing, I am reading Rich Dad Poor Dad right now

[@hadibaianonie109]

Dr.Jubbal whats ur ethnicity? Just wondering

[@kevinjubbalmd]

Antarctican

[@rahulv2225]

Dude he is indian

[@yusufqureshi9579]

Buy real estate and rent it out. The property will pay for itself.

[@varadahegde3255]

💖💖💖💖💖💖💖💖

[@ETL1151]

Solid video, I will disagree somewhat with the diversification aspect though. Warren Buffet would as well. Three "wonderful" companies > a thousand "fine" companies. But I see the appeal for sure.

[@kevinjubbalmd]

No, Warren Buffet is a strong proponent of buying index funds for regular investors

[@ETL1151]

@@kevinjubbalmd I was referencing this video kzbin.info/www/bejne/kHvdppKuftmBobs , but you're right, at other times he emphasizes index funds etc. especially for the common investor, it is hard to beat the S&P.

[@Chasing702]

Didn’t you go to med school for free ? Why don’t you make a video on that? There is no way to save your way in med school to pay off the $200k plus tuition.

[@roman9509]

Didn’t you get your money from your work and not your investments? Investments are for the future

[@kevinjubbalmd]

Yes

[@roman9509]

@@kevinjubbalmd that's what those solid investment book tell you anyway, the majority of the money comes from the work you do

[@Spartan11KIA]

Wouldn't opening up alot of credit cards lower your credit score

[@abdullaalshahariar8278]

What you do to recover when you suffer from insomnia?

[@kevinjubbalmd]

Get outside my bedroom and do something else like read for a bit until I get tired

[@Ad-kw6yk]

If you actually know how to conduct proper equity analysis individual investing is actually less gambling that buying an index fund where you don’t even understand a single companies financial position in that fund Just because index funds go up in a bull market doesn’t mean you’ll always have positive returns yoy for the rest of your life You can actually put some time and effort and learn about market fundamentals and make more informed decisions with individual stocks. I argue index fund investing is basically gambling.

[@moneyallday6524]

How old r u bro

[@IvanAtli]

So wait, how did you pay off your loans??

[@jjwaters4037]

I take it you do not like Dave Ramsey then

[@kevinjubbalmd]

Don't have an opinion. I'm not familiar with his content, other than "all debt is bad" which I disagree with. It seems like for the most part he has a positive effect on helping those who are financially illiterate improve their finances.

[@jjwaters4037]

Kevin Jubbal, M.D. I agree with some of it but when I heard him say you can easily cash flow medical school “without any debt” I kind of Tuned out. Love your videos you put up ❤️

[@jasonsheby889]

You’re plant is more in focus than you 😂😂 jk😂

[@gdora1995]

In Norway 🇳🇴 medical school is 100% free ,, in Germany 🇩🇪 medical school in 100% free, in Sweden 🇸🇪 med school are 100% free, in belgium🇧🇪 it cost 900 dollars a year if u r an eu national and 2000 dollars for international students.. Russia, China,Malaysia, Ukraine.. All cost less than 5000 a year.. And total years of medicine is 6 not 8 like the US.. US citizens are living in HELL thinking they are a developed country.. In dubai, Saudi Arabia and all gulf countries u hv to score 70% to get into medical school 100% free.. I live in Dubai. Universities here are 100 billion times more developed than the US.. In all these countries above medical residents earn 55,000 dollars a year and 200,000 dollars a year as an attending doctors but the difference is NO DEBT

[@AbdurahmanAlomrani]

Nice B.S Jk tryna be a troll haha

[@LaoevanSVU]

Kevin your hair is so puffy lol

[@kevinjubbalmd]

Puffy boiz

[@behindthewhitecoat6560]

Hi Tai Lopez!

[@kevinjubbalmd]

lol

[@behindthewhitecoat6560]

@@kevinjubbalmd When are you going to drop your 12 steps to greatness playlist?

[@titosmiff1058]

The idea that you can take out a loan at 2% and invest and get 6% or 8% is cute, but not grounded in reality. You are not factoring in risk. There is a risk your investment will lose 5% over the course of your loan. There is also a risk you won't be able to pay for your car loans and then now you are getting your car repossessed with a brokerage account that is losing money. Vs just paying cash for your car and now you're safe.

[@suns1457]

this is literally useless information. you didn't break down hard numbers at all. just randomly talked about general concept. thanks

[@shaunanigans3364]

Step 1: make a KZbin

[@mattluckman872]

"paid off" not "paid of"

[@AR-kp2yz]

focusing on the important things

[@kevinjubbalmd]

Thanks, fixed