If you are a woman and have ever been told, “It’s nice you’re married to a doctor.” I write for you.
It is nice, but not for the reasons one would think.
As a doctor’s wife, you:
- Are in charge of everything
- Have a DrSpouse who works “80” hours a week
- Are a solo parent who is wearing many hats and juggling many balls
Finances is just a part of the massive “everything” that falls under your duties as Family CEO. And your situation is different because you have bananas-high student loans and late retirement savings, as well as unique financial products targeted at your (soon-to-be) high-income family.
It’s a lot to manage.
Hi there, I’m Theresa.
I learned a lot about money through trial and error. I don’t have any licenses and I am not a coach.
But I value education and got my Bachelors in Biomedical Engineering. I share that with you because my mind is analytical and I like to solve problems. If there is one thing I hate, and that’s convoluted, especially when it comes to finances that is needlessly complicated.
I’m writing to help demystify the whole money thing and to help strengthen your family, especially during training years.
This is my mission: Help busy families go through the medical journey easier, wealthier, and happier.
I have a lot of work to do.
Here’s a little bit about our family’s story.
In 1984, my family and I came over from Vietnam as “boat people” — refugees who escaped the war wooden fisherman boats. My husband’s dad came over in 1975 because he was a part of the Vietnamese Navy. He worked super hard with two-fulltime jobs to bring his mom and three older siblings over eight years later, a separation so long and difficult that I will never fathom. They were so happy to be rejoined that my husband would be born one year after his parents rejoined.
We grew up in very similar, frugal households. But we didn’t meet until one fateful summer day in 2006, my husband and I met and fell silly in love while in undergrad.
Like everybody in our class, we graduated and entered the corporate world together. We had two tech salaries and felt like we finally made it.
In 2008, the great recession hit and there was a financial crisis. Thousands were laid off, including him. That experience really changed him. Weeks after, he said to me:
“I’m thinking of going to med school.”
Since that moment, the guy who I loved — who hadn’t even taken a biology class yet — became pre-med. Although the blog is called DocWife and I am a doc wife, I did not marry one. I made one.
We got married at the beginning of medical school in 2011 and had three kids during training. The first came during medical school, second during internal medicine residency, and third during research fellowship. Fast foward to today, 2018, and he is working as a hospitalist and eventually (hopefully) a GI doc.
During this whole time during the medical journey, we were navigating all the major events in life:
- Applying to medical school.
- Finding a job that would be remote so I can support our family.
- Buying a house.
- Buying a new car because my husband totalled his due to ice.
- Having three beautiful kids — one in medical school, one in residency, one in fellowship.
- Matching into his internal medicine specialty and moving to be where would train.
- Managing and repaying his student loans.
- Negotiating his employment contract.
Our family is everything to us.
That’s why when it came to taking care of our family, my husband was like most doctors and didn’t have time to manage our finances. So it was up to me.
I began learning and I stumbled upon White Coat Investor, Bogleheads, and the FIRE (financial independent / retire early) movement. Since then, I became a finance enthusiast.
We were lucky to not have made any major mistakes. We carry no credit card debt and we are saving for retirement even during residency and fellowship training.
If I can learn all this, you can learn, too. And you can avoid all major mistakes.
Where to go from here?
Now, you are likely also doctor’s wife, so the site DocWife.com is for you as much as it is for me. Or you may be married to another a high-income professional. We will work together to achieve our goals of getting through the medical journey easier, wealthier, and happier.
1. If you haven’t already, you need to order this book. It was the “a ha!” moment to my finances and will change your life.
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4. Join me in the private Facebook communities Physician Finance (for both you and your DrSpouse) and Doc Wives Talk Money (a small close-knit group, women only 🙂 )