Before she graduated residency, Bonnie Koo, MD, FAAD, had $20,000 in credit card debt, $200,000 in student loan debt, and was struggling to live paycheck to paycheck. So, when one day she overheard some fellow residents discussing money and investing, her interest was piqued.
“I started reading everything I could get my hands on about financial planning and soon started sharing this knowledge with other physicians,” said Dr. Koo. “This is life-changing knowledge.”
Dr. Koo, a private practice dermatologist in the Philadelphia area, is now on track to attain financial independence—or, in layman’s terms, not having to work for money—within the next 15 years. At Elevate by Psych Congress, being held in Boston, Massachusetts, March 8-10, 2019, she will instruct her fellow health care providers on personal finance in the hope that they, too, can brighten their financial futures.
“Many of us graduate with six-figure debt or grow into our high incomes too quickly,” said Dr. Koo, who launched MissBonnieMD.com to help physicians find financial freedom. “We are lucky in that we do make a good and stable income, but that does not mean that we are good at managing money or building wealth.”
During her 40-minute session, Dr. Koo will share 3 steps to building wealth. Although her mission usually is to help professional women in particular, she said her talk will provide valuable information for all attendees—both men and women, across all age groups.
“The earlier in your career you hear and implement the information the better,” she said, “but you can benefit at any stage of your career.”
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Attendees, she said, should be able to leave the session with practical ideas for improving their financial health.
“The good news is that mastering personal finance is nowhere near as hard as becoming a physician or nurse,” she said. “I want attendees to be able to take some steps, that day, to brighten their financial future.”