In this episode of Paging Financial Freedom, Dr. Daniel Shin, a surgeon and real estate investor, and Lila Kaplan, a former Wall Street professional and certified financial planner, dive into the topic of student loan debt and how doctors can overcome it while building wealth through real estate investing. Together, they share their personal stories, the challenges they’ve faced with student loans, and the strategies they’ve used to achieve financial freedom.

The conversation explores the rising costs of medical school, the impact of student loans on career choices, and how managing debt can significantly affect a physician’s financial future. Dr. Shin and Lila discuss how real estate investing has helped them not only reduce financial stress but also create a path to greater financial security. They also highlight the importance of making intentional decisions about student loan repayment and other wealth-building strategies to achieve long-term financial freedom.

Key Takeaways:

00:00 – Introduction to the podcast and the financial challenges doctors face with student loan debt.
01:12 – Lila’s 82-unit apartment investment in Dallas and the challenges with securing financing.
03:23 – The rising cost of medical school and the impact of debt on medical students and their careers.
06:16 – The average student loan debt for medical students and the strain it puts on new physicians.
09:09 – How debt impacts career choices, including the shift toward higher-paying specialties.
11:35 – Recent policy changes that affect student loan borrowers, especially medical students and residents.
14:50 – Dr. Shin’s decision to refinance his student loans at a lower interest rate and its long-term impact.
17:13 – Lila’s use of real estate investment to pay off her husband’s student loans and reduce financial stress.
19:08 – The importance of having a clear student loan repayment plan and the role of real estate investing in that strategy.
22:16 – Advice for current and future medical students on managing debt and making financial decisions.
25:09 – Final thoughts on balancing student loan repayment with investing for the future.

Dr. Shin and Lila’s conversation emphasizes the importance of being strategic about managing student debt and building wealth through investments like real estate. They stress that by taking control of their finances, physicians can create a more secure, fulfilling future, free from the burdens of debt.

Links Mentioned in the Episode:

• Paging Financial Freedom Podcast on Spotify
  & Apple Podcasts
• Learn more about Dr. Daniel Shin’s Real Estate Fund: CereusRealEstate.com
• Learn more about Lila Kaplan’s real estate investment management company: SilverbackEquityPartners.com
  
  

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In this episode of Paging Financial Freedom, Dr. Daniel Shin, a surgeon and real estate investor, and Lila Kaplan, a former Wall Street professional and certified financial planner, discuss various ways to invest in real estate and how these strategies can lead to financial freedom. They dive into the nuances of real estate investing, focusing on traditional buy and hold, house flipping, short-term rentals, and land investing. The conversation also covers passive investment strategies like real estate syndications and REITs.

Key Takeaways:

• 00:00 – Introduction to the podcast and the various ways doctors can invest in real estate.
• 01:11 – Traditional buy and hold strategy: pros, cons, and the challenges of property management.
• 06:20 – Lila’s experience with house flipping and its risks.
• 11:17 – Short-term rentals: benefits and challenges, especially in an unstable economy.
• 16:24 – Land investing: Lila and Dr. Shin discuss the pros and cons of land ownership.
• 21:12 – Passive investment strategies: syndications and REITs, and the benefits of pooling resources for larger deals.

Links Mentioned in the Episode:

• Paging Financial Freedom Podcast on Spotify
• Paging Financial Freedom Podcast on Apple Podcasts
• Learn more about Dr. Daniel Shin’s Real Estate Fund: CereusRealEstate.com
• Learn more about Lila Kaplan’s Real Estate Investment Management Company

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Don’t miss future episodes that help doctors and their families achieve financial freedom through smart real estate investing.

In this episode of Paging Financial Freedom, Dr. Daniel Shin, a surgeon and real estate investor, and Lila Kaplan, a former Wall Street professional and certified financial planner, discuss why doctors need additional income streams and how to take control of their financial future. Together, they share personal stories, challenges they've faced, and practical strategies for physicians looking to achieve financial freedom through real estate and tax savings.

The conversation dives into the current state of physician income, with salaries stagnating and burnout rates rising, and the importance of diversifying income sources to combat these issues. Dr. Shin and Lila explain how real estate investing has allowed them to create more autonomy and financial security in their lives. They share insights into how physicians can build wealth beyond their W-2 jobs, reduce tax liabilities, and regain control of their careers.

Key Takeaways:

00:00 – Introduction to the podcast and why physician salaries are decreasing compared to inflation.
05:07 – How Dr. Shin recognized the need for a "Plan B" and the steps he took to diversify income streams.
06:33 – Lila’s decision to leave corporate America to build additional income streams and the importance of supporting a spouse's financial journey.
 07:31 – The power of real estate investing in building long-term wealth and creating financial freedom.
12:03 – Using Roth IRAs and bonuses to fund real estate investments and the initial capital needed to get started.
15:38 – The tax benefits of real estate and how they help reduce expenses.
16:59 – The importance of financial freedom, autonomy, and the risks involved in real estate investing.

Dr. Shin and Lila’s discussion highlights the importance of taking control of your financial future and building wealth beyond a single job. By focusing on real estate and other income streams, physicians can regain autonomy, reduce stress, and ultimately create a more secure and fulfilling future.

Links Mentioned in the Episode:

• Paging Financial Freedom Podcast on Spotify
  & Apple Podcasts
• Learn more about Dr. Daniel Shin’s Real Estate Fund: CereusRealEstate.com
• Learn more about Lila Kaplan’s real estate investment management company: SilverbackEquityPartners.com
  
  

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In this episode of Paging Financial Freedom, Dr. Daniel Shin, a surgeon and real estate investor, and Lila Kaplan, a former Wall Street professional and certified financial planner, discuss how to get your spouse on board with the journey to financial freedom. Together, they share personal stories, challenges they've faced, and practical strategies to help couples align on their vision for the future, especially when one partner is a doctor.

The conversation dives into the struggles many couples face when introducing the concept of financial freedom to their spouse, especially when the idea feels like a complete shift in lifestyle. Dr. Shin and Lila explain how their own journeys unfolded—Dr. Shin reflects on the early days of discussing financial independence with his wife, while Lila shares how she worked to bring her husband on board with her goal of retiring him in five years.

They emphasize the importance of aligning on a shared vision of the future before diving into the numbers, and the role that real estate investing plays in creating more choices for medical professionals. With a combination of empathy and actionable advice, they help listeners understand how to make financial freedom a joint mission.

Key Takeaways:

00:01 – Introduction to the mission of the podcast and how Dr. Daniel Shin and Lila Kaplan are helping doctors and spouses achieve financial freedom.
03:35 – The disconnect couples often experience when one spouse is ahead on the financial freedom journey and how to align on a shared vision.
06:42 – Why creating a shared vision is key before diving into financial details, and how to bring your spouse on board.
14:08 – The power of real estate in creating financial freedom and giving doctors more choice in their careers.
22:36 – The Five Whys technique to understand deeper motivations for financial freedom and work backwards to set achievable goals.
25:02 – Final thoughts on the importance of patience, communication, and a shared vision for achieving financial freedom together.

Links Mentioned in the Episode:

• Paging Financial Freedom Podcast on Spotify
  & Apple Podcasts
  
  
• Learn more about Dr. Daniel Shin’s Real Estate Fund: CereusRealEstate.com
  
  
• Learn more about Lila Kaplan’s real estate investment management company: SilverbackEquityPartners.com
  
  

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In this episode of Paging Financial Freedom, Dr. Daniel Shin, a surgeon and real estate investor, and Lila Kaplan, a former Wall Street professional and certified financial planner, dive into the financial traps doctors face during residency—and how to avoid them. Together, they share personal stories, hard-earned lessons, and practical strategies to help residents and their spouses build a foundation for financial freedom.

The conversation uncovers the realities of low residency pay, mounting student debt, and the predatory financial advisors who target young doctors. Dr. Shin reflects on his own struggles during residency and how small, consistent investments added up over time, while Lila shares a shocking story of a financial advisor with 13 violations who scammed countless doctors. They emphasize the importance of financial literacy, protecting yourself from bad advice, and starting small with savings and tax-advantaged accounts.

With perspectives from both a doctor and a spouse, Daniel and Lila highlight how even small steps—like investing $100 per paycheck or avoiding lifestyle creep—can set doctors up for long-term success. Their mission is clear: to give medical families the tools to take control of their financial future and retire on their own terms.

Key Takeaways:

00:01 – Introduction to the podcast and the hosts’ mission to help doctors and spouses achieve financial freedom.

01:14 – Why medical training leaves doctors unprepared for financial security.

03:35 – Lila’s eye-opening realization about her husband’s low residency salary and debt load.

06:19 – The story of “Frank,” a financial advisor who scammed doctors—and how to spot red flags using FINRA BrokerCheck.

09:07 – The four major financial pitfalls for doctors: whole life insurance, fee-heavy advisors, predatory debt, and lifestyle creep.

12:52 – Simple strategies residents can start today: automatic savings, Roth IRAs, 403(b) contributions, and avoiding lifestyle inflation.

17:59 – Why starting early, even with small amounts, gives doctors a powerful head start toward financial freedom.

18:23 – Final takeaways: financial freedom begins with small, consistent money moves during training.

Links Mentioned in the Episode:

• Paging Financial Freedom Podcast on Spotify & Apple Podcasts
• Learn more about Dr. Daniel Shin’s Real Estate Fund:  CereusRealEstate.com
• Learn more about Lila Kaplan’s real estate investment management company:  https://silverbackequitypartners.com/
  
  

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In the inaugural episode of Paging Financial Freedom, Dr. Daniel Shin, a surgeon and real estate investor, and Lila Kaplan, a former Wall Street professional and certified financial planner, share their personal journeys toward financial freedom. Together, they aim to help doctors and their families escape the constraints of demanding medical careers through smart real estate investments and tax-saving strategies.

The episode dives into their motivations for starting the podcast and highlights how real estate can be a powerful tool for building wealth beyond traditional W-2 incomes. Dr. Shin reflects on his transition from full-time surgery to part-time practice, crediting real estate for giving him the flexibility and financial security to reduce his work hours. Lila, a spouse of an orthopedic surgeon, discusses her shift from Wall Street to real estate investing and her mission to retire her husband early, freeing him from the stress of his high-pressure job.

Together, they explore how their unique perspectives—both as doctors and spouses—can empower listeners to achieve financial independence, regain control over their time, and retire on their own terms.

Key Takeaways:

• 00:01: Introduction to the hosts and their mission to help doctors and spouses achieve financial freedom.
  
  
  
• 02:08: Dr. Shin shares his journey from financial scarcity to becoming a urologic surgeon and investor.
  
  
  
• 04:00: Lila discusses her career shift from Wall Street to real estate investing and her goal of retiring her husband.
  
  
  
• 07:16: Dr. Shin explains how real estate can provide doctors with the financial freedom to reduce work hours.
  
  
  
• 08:11: Lila emphasizes the importance of the spouse's role in creating financial independence through real estate investments.
  
  
  

Links Mentioned in the Episode:

• Paging Financial Freedom Podcast on Spotify & Apple Podcasts
• Learn more about Dr. Daniel Shin’s Real Estate Fund:  CereusRealEstate.com
• Learn more about Lila Kaplan’s real estate investment management company:  https://silverbackequitypartners.com/
  
  

Subscribe to the show and don’t miss future episodes!