00:00:00 Host Nate Crannell welcomes Dr. Michele Cho-Dorado, a pediatric gastroenterologist, real estate investor, children's book author, and founder of Bright Future EDG. They discuss her new book, "Reach for the Stars," which introduces financial concepts to young children. Dr. Cho-Dorado shares that she and her husband are taking their kids on a surprise vacation to Florida, and they haven't decided when to tell them about the destination. She reveals that they have been fans of Disney movies, particularly "Frozen," "Encanto," and the recently released "Leo." The conversation then shifts to Dr. Cho-Dorado's background, as she grew up in Chicago, completed her undergrad and medical school there, and then ventured to Los Angeles for her residency and fellowship. She shares that the decision to leave Chicago was a difficult one but ultimately led to personal growth and exposure to diverse experiences.

00:05:00 Dr. Michele Cho-Dorado shares her personal journey of choosing a career in Pediatric Gastroenterology. She explains how her love for working with children led her to this specific field, and how her interest grew during her residency. The most common cases she encountered in this area were reflux in babies and abdominal pain in kids. Dr. Cho-Dorado then discusses celiac disease, an autoimmune disease that affects the small intestine and requires a gluten-free diet for treatment. She shares her experience with her own daughter, who was diagnosed with celiac disease and needed to eliminate gluten from her diet to manage the condition. While Dr. Cho-Dorado is no longer practicing directly in the Gi space, she remains aware of her children's health and the challenges of managing celiac disease as a family.

00:10:00 In this section of the podcast episode, Dr. Michele Cho-Dorado shares how becoming a mother changed her perspective as a doctor and influenced her decision to become a medical director. She explains that her experiences as a mother made her more compassionate and empathetic towards her patients and their parents. Dr. Cho-Dorado also discusses how her priorities shifted after having children, leading her to consider a new career path. She mentions that she did not confide in her parents about her decision until after she had made it, but found support from a community of physicians who had different perspectives on career and financial matters. Through this community, she educated herself further on personal finance and investing.

00:15:00 Dr. Michele Cho-Dorado outlines her personal journey to financial literacy, which came late in her life despite being a medical professional. She explains how her lack of understanding about investing and managing money changed her mindset and ultimately led her to write a book for children. Dr. Cho-Dorado expresses her excitement about financial literacy, as she believes it is an essential aspect of life that can help individuals make decisions, build confidence, and develop leadership skills. She emphasizes the importance of teaching children financial literacy at an early age to help them navigate the complex financial world and instill important values such as saving, giving, and investing.

00:20:00 In this section of the podcast episode "It's Never Too Late To Find Financial Literacy," Dr. Michele Cho-Dorado discusses the importance of financial education, particularly for children. She expresses her belief that while medical professionals are well-versed in their fields, they may not always be financially literate. Dr. Cho-Dorado advocates for financial education starting in primary school and shares her personal journey of writing a children's book, "Reach for the Stars," to teach financial concepts like earning, saving, giving, and investing. The book also emphasizes the importance of delayed gratification and thinking big. Dr. Cho-Dorado's passion for financial education stems from her desire to help children and her own experience of leaving her medical practice to focus on this new endeavor. "Reach for the Stars" has been available since earlier this year, and she is working on releasing more books in early next year.

00:25:00 Dr. Michele Cho-Dorado discusses the importance of teaching financial literacy to children, as many essential money management topics are not taught in schools. Dr. Cho-Dorado shares her personal experience as a physician, explaining how the sudden increase in income can lead to overspending and financial mismanagement. She emphasizes the need for education on appropriate spending and managing money, even in adulthood. The conversation then shifts to the topic of tax strategies, specifically related to real estate investing. Dr. Cho-Dorado expresses her excitement about this area, as she and her husband have recently started learning about it. She believes that real estate investing and the associated tax strategies are crucial for high-income earners, such as physicians, to save more of their earnings and reduce their tax burden.

00:30:00 The discussion revolves around the availability of resources for Physicians to become financially literate, specifically in real estate investing. Dr. Cho-Dorado notes that there are more resources now than there were five years ago, with an increase in Physician communities focusing on various types of real estate investments. She attributes the recent trend to the economic instability caused by the COVID-19 pandemic, which led many Physicians to seek alternative sources of passive income. This shift in mindset has opened up a whole new world of possibilities for Dr. Cho-Dorado, including entrepreneurship, education, and real estate investing. Her upcoming book, "Reach for the Stars," aims to instill a value system of abundance and responsibility in children, encouraging them to create value and ultimately, leading to financial success.

00:35:00 Dr. Michele Cho-Dorado discusses the impact of her book "Reach for the Stars" on children and their parents since its release. She shares stories of kids asking questions about financing their education and making connections between words and concepts related to money management. The guest also mentions the creation of Bright Futures EDG, an education platform offering resources and downloadable worksheets for parents to help increase financial literacy for their kids.