On this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Michele Cho-Dorado, a pediatric gastroenterologist, Medical Director, author of the children’s book Reach for the Stars, and founder of Bright Futures EDG, which strives to educate and empower children through money knowledge.
“Part of my identity was just being a doctor. I never thought I could do things outside of medicine,” says Dr. Michele Cho-Dorado, who wrote a children’s book about financial literacy and founded her own company to spread this knowledge to more children.
But Dr. Cho-Dorado didn’t start as an entrepreneur or financial literacy expert. Her own knowledge gap prompted the creative leap.
“I was about eight years into practice as an attending and already almost 40. And I just realized, at some point, despite all those years of medical school and training, I had received very little financial education,” Dr. Cho-Dorado explains.
Dr. Cho-Dorado speaks about her immigrant parents and her upbringing, her work ethic and perseverance, and how, despite it all, she found herself in the dark about money and what to do with it. She set out to become more money savvy and, in doing so, opened the door for personal growth and even more success.
Tune in to hear about how Dr. Cho-Dorado took charge of her finances, learned more about creating wealth for herself, and now shares this knowledge with today’s youth.
Name: Dr. Michele Cho-Dorado
What he does: Dr. Michele Cho-Dorado is a pediatric gastroenterologist, Medical Director, and author of the children’s book “Reach for the Stars.” Michele is the founder of Bright Futures EDG, which serves as a platform to share about financial literacy and empower kids to be bold and think big.
Company: Bright Futures EDG
Words of wisdom: “Just because I didn't know about it before doesn’t mean I cannot learn and master it.”
Connect: LinkedIn
Top takeaways from this episode
[02:56] A late start: Dr. Cho-Dorado shares how she came to write a children’s book about financial literacy while having a professional background in medicine.
[08:13] Environmental factors: Whether you grew up with money or were raised in a house where money was scarce, there are always financial messages being taught or picked up. Dr. Cho-Dorado discusses the effects of her upbringing on her financial literacy.
[12:13] Introductions: Dr. Cho-Dorado shares some of the books she first picked up when initially interested in expanding her financial knowledge: Rich Dad Poor Dad by Robert Kiyosaki and The Go-Giver by Bob Burg and John David Mann.
[14:40] All in: From initial ideas to written drafts to finding an illustrator, Dr. Cho-Dorado dives into the process of creating her children’s book, Reach for the Stars, which introduces financial concepts to kids in a fun way.
[18:08] Expansion: After writing her book, Dr. Cho-Dorado felt compelled to educate a wider audience of children. So, she developed a platform, Bright Futures EDG, to get the information out to as many kids and parents as possible.
[24:33] Special thanks: Although Dr. Cho-Dorado did not grow up with financial knowledge, she thanks her parents for instilling in her a strong work ethic. She also thanks her husband for pushing her to think outside the box, as well as her community of physicians.
Understanding where your cash flow is going every month is essential to creating an actionable plan for your financial goals. Use our monthly cash flow worksheet to give you clarity about where your money is going and help you create a budget.
Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors, dentists, and those whose work can help them to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists throughout the U.S. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP®, at shane@prosperousdoc.com.
Compliance code: CRN202610-5234079