It’s Never Too Early to Start: The Rapid FIRE Approach of One Enterprising Medical Student

I’m often humbled when medical students and residents reach out to me, eager to share their financial successes to serve as an example and inspiration to my readers.

You know what I did to improve my finances as a medical student? I lived like a college student in terms of housing and I had a keen knowledge of which bars within walking distance had the best food and drink specials for any particular night of the week.

As a resident, I did contribute to a Roth IRA, but I also lived in a swanky downtown condo, bought a mustang convertible, and lived more or less paycheck to paycheck.

The Rapid FIRE Approach of One Enterprising Medical Student

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The most straight forward side hustle I employed during medical school was simply to work. For about 18 months, I kept my job as a research assistant and worked at nights and on weekends analyzing samples for about ½ of my full time salary.

Time is Money

In the end, the lesson here was simple. Hard work is great for providing needed income, but trading time for money is not a great long term strategy.

There is tremendous demand for people with medical knowledge. This fact is easily demonstrated by the fact that I, a mere student, have served as the medical consultant for 3 different companies in the last 4 years.

The World of Biotech

Much has been said about affiliate, or niche sites as a vehicle for passive income. In short, you connect customers with suppliers of a product through reviews, articles, and links to those items.

Passive(ish) Income: Affiliate Sites and ATMs

Affiliate Sites

Think of this like real-estate lite. You probably can scrape up the cash to buy an ATM. For 2-5k, you can be the proud owner of a middle of the road machine and depending on location, earning $200-400 per month through transaction fees.

ATMs

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