Why Doctors SHOULDN’T Pay Off Their Loans | Dr. Cellini Reaction

Dr. Cellini posted a video recently discussing why he's waiting to pay back his medical school loans. I did things the opposite way and paid back my loans in one lump sum. Did I make a mistake? Should I have waited too? Let's discuss why Dr. Cellini is doing this, what points we agree on, and what points we disagree on.
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TIMESTAMPS:
00:00 - Introduction
00:49 - Financial Foundations & Fundamentals
01:45 - Paying Off Your Loans vs Investing
12:30 - Final Thoughts
LINKS FROM VIDEO:
‪@DrCellini‬ Original Video: • Why I'm NOT Paying Off...
Cost of Medical School | How to Save $250,000: • COST of MEDICAL SCHOOL...
7 Financial Lessons I Wish I Learned When I Was 20: • 7 Financial Lessons I ...
#medicalschool #studentloans #investing
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Disclaimer: 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. 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).

[@DrCellini]

All I know is that I’m here for this video! 👍🏼

[@AmericaRevere]

awesome video! i also decided to pay off my loans, peace of mind is priceless 😎

[@khalilahd.]

Not paying off the thousands of dollars of debt?? Weird flex but okay 😭 just kidding his argument was actually pretty solid. You should definitely have your financial fundamentals taken care of before you take on this mountain of debt

[@user-kr2ty9vk5n]

The lower your loans are, the more motivation you have to pay it iff because you can actually make big dents in it. Someone with 400k who is in primary care will not feel like they are making any progress with high monthly payments, and that will negatively impact their well being. At that point, it might be best to not pay them off and use the extra income to have a comfortable life. It's all about priorities and balance I think.

[@FacundoMD]

Great point ! ER doc here with 500K + in loans 😭😎. Next few weeks will come up with videos on this same topic. One should be out now.

[@ringchaser4488]

​@@FacundoMD good thing you have a good field to make money to get out that hole. If you make 275k and take home 200k after taxes..just live off of 50k. You would be loan free in 3ish years (putting 150k yearly toward the loan) Not bad at all, you got this. Good luck!

[@FacundoMD]

@@ringchaser4488 agree with you :)

[@raunakchodankar1843]

Great video Dr . Jubbal ! Could you please make a video for pre-meds on how to review practice questions effectively. Thanks !

[@JDailyshorts]

Interesting video!! I'm 180k in debt after withdrawing from school, pretty much hopeless about being able to pay it off. Hoping I can find some options on what do to about it.

[@FacundoMD]

Yooooooo what !??? ER DOCTOR HERE ! I am about to upload my quick intro about students loans. Right on time haha. So funny. I am also planning on paying OFF all my students loans. That video is coming up at a later week. Also I am preparing to react to your video "so you want to be an ER doc" since docs have already done Neurosurgery, ortho, rads, etc. :) Hope all is well. You are a true entrepreneur. I said many times !

[@kevinjubbalmd]

Looking forward to the reaction video! That’ll be fun

[@matthewk250]

In NYS if your income is over 70k (single) you can't claim the interest any longer.

[@chalpua8802]

I have always believed in paying off debts vs investing money.

[@Mariii739]

30k for medschool? In Brazil you wont spend less than 300k US dollars

[@bookworm_md4140]

Yes more about real estate please!

[@baylorwiggins9781]

Talk more about stocks when possible, I enjoy those videos

[@adamgill618]

Wow that’s not a bad student loan burden. Especially considering most medical students end up with 200-260 thousand or so I think.

[@craigman7262]

yeah this is kind of silly.

[@appollo1826]

I saw that video and his strategy is cool but not for me. He expounds a little on the peace of mind and that is all I want. Be in the positive and stay in the positive. Im pretty simple, if I want I will find a way to get it without putting it on a loan for too long and immediately or stay out of debt.

[@tylorjordon1642]

There's something that is not covered here is that you can be sued for not paying back your loans which is an even bigger headache. The more net worth you have, the more likely you are to be sued.

[@venkatachengalvala4289]

That happens if the minimum monthly payments are not made. But, in the video, he's making the minimum payments, though he isn't paying any extra to chip off his loans.

[@HSSMC112]

Kevin you look like you just woke and jumped in front of the camera! 😂

[@kevinjubbalmd]

🙃

[@lavender4211]

Whattheheck?😂

[@keshavk]

Can you make a video about PSLF?

[@dailydoseofmedicinee]

👍

[@Happypappytappy]

Dr. Jubbal: do you think over time you might apply to a three year residency program to further your career/get street credit? I ask respectfully.

[@Happypappytappy]

Street cred*

[@kevinjubbalmd]

Nope

[@bobbyknight3589]

I watch his video before your and i still stand by what i said about it. To though of you who don't know what i said just go to the original video that he reacted to my comment should be on the top. 🤷

[@sebucwerd]

Since fiat money is mined by going into debt, going into debt allows you dilute other people's savings. So the winners in this system are those that take on the most debt, buy hard assets, borrow against them, refinance etc The losers are those that don't borrow against their hard assets. The most asset rich people have the most debts for this reason. Bitcoin fixes this.

[@reems4325]

If you're in debt, the money you have isn't truly yours... you OWE it to someone else. Pay off your debt.. then work on building wealth. I cannot imagine have hundreds of thousands of owed money to someone else and actually have a peace of mind. It's crazy. Get rid of it.. then focus on wealth building with investing.

[@FacundoMD]

AGREE !!!! I want financial freedom ! true wealth. ER doc here with 500K + in loans 😭😎. Next few weeks will come up with videos on this same topic. One should be out now.

[@appollo1826]

I love this mindset.

[@craigman7262]

Right? that's a terrible habit.

[@murraysolomon4924]

That drink looks like urine!

[@kevinjubbalmd]

😏

[@travelnurseadventures3225]

He needs to pay off his student loans--he took tax payer money to improve his life and he should pay the faceless “tax units” back. It’s unethical. The money was taken from tax payers for his education NOT for him to invest. It’s pathetic.

[@utubern07]

I am assuming he is a radiologist. He pays more federal income tax in two years than the average American in a lifetime. Moreover, he refinanced his loans with a private lender at 3%, meaning the government has already been paid back!

[@sc9573]

Another reason not to pay off your loans - in case Democrats forgive them 😂

[@travelnurseadventures3225]

Not gonna happen--unless the democrats want a French Revolution 2.0

[@inaclayland]

Could you please comb your hair then re-record this?

[@malmesned253]

Nah what are you on about, looks dope

[@ArthurChociai]

It does look Dope!

[@MrSpaceWaffles]

Bed hair is the best hair