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Doctors and Dollars Episode #6: Seven Million & the Emergency Fund

In Episode 6 of The Doctors and Dollars podcast, Vijay and I speak with one of my good friends, Dr. Jason Yu! We talk dollars, the importance of an emergency fund, how COVID has impacted his job and investments, as well as state taxes.

A lot of great stuff in this episode!

Listen to the full episode here!

emergency fund dollars

Jason is a Los Angeles based plastic surgeon who has just graduated from training. And by training…we mean training.

He is trained as an oralmaxillofacial surgeon, plastic surgeon, microsurgeon, and craniofacial surgeon. We met during his year at NYU as a microsurgery fellow when I was a chief resident! We became fast friends, bonding over long free flap reconstruction cases.

Anyway, in this episode, Jason tells the story of how COVID-19 has affected his professional life and his investments.

For instance, he shares how he became a reluctant landlord. His tenant the passed away tragically from COVID.

(Make sure you don’t become a reluctant landlord! Learn to use real estate to grow your wealth exponentially like I am!)

Meanwhile, his new attending job was on hold for a long time until the pandemic calmed down. Thankfully, his emergency fund and his wife’s job has stood him in good stead. It’s a reminder that we need dollars, cold hard cash or liquidity, in our emergency fund.

Lastly, we chat about taxes. Vijay and I are also residents of high tax states like Jason. We debate the wisdom of lost net worth from sky high state taxes. What is final the value of compounding the savings in taxes by living in a no-tax state?

I really hope that you are enjoying the podcast! If you do like it, please subscribe on any major podcast platform and give us a 5-star rating to help us spread our message!

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    The Prudent Plastic Surgeon

    Jordan Frey MD, a plastic surgeon in Buffalo, NY, is one of the fastest-growing physician finance bloggers in the world. See how he went from financially clueless to increasing his net worth by $1M in 1 year and how you can do the same! Feel free to send Jordan a message at [email protected]

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