This episode is sponsored by: Set For Life

Set for Life Insurance helps doctors safeguard their future with True Own Occupational Disability Insurance. A single injury or illness can change everything, but the best physicians plan ahead. Protect your income and secure your future before life makes the choice for you. Your career deserves protection—act now at https://www.doctorpodcastnetwork.co/setforlife

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Many physicians are looking for ways to achieve financial freedom beyond the traditional medical career path. In this episode, Dr. Mike Woo-Ming breaks down the seven essential wealth-building habits that have allowed him and other physicians to build successful businesses, diversify income, and gain control over their time.

Dr. Mike shares his journey—leaving corporate medicine at 34, building and selling businesses, and ultimately creating a life where he works on his own terms. He also discusses the common mistakes physicians make with money and how to develop a wealth-building mindset.

Three Actionable Takeaways:

1. Live Below Your Means: Avoid unnecessary spending and prioritize investing in income-generating assets.

2. Invest in Yourself: Continuously improving your skills, whether through education, mentorship, or networking, will lead to greater financial opportunities.

3. Focus on Revenue-Generating Assets: Instead of chasing multiple income streams simultaneously, concentrate on building one successful income stream before diversifying.

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