In an exceptional episode of the Wealth Planning for the Modern Physician podcast, host David Mandell, JD, MBA, engaged in a conversation with a resident who defies convention! Dr. Wendell Cole, then an orthopedic surgery resident, is also a podcaster, author, and entrepreneur. Although he was still in the early phases of his medical profession, Dr. Cole had already established a reputation for innovation and proactive initiative. His narrative illustrates the obstacles and possibilities confronting today’s doctors, especially the ambition to harmonize clinical proficiency with financial freedom and self-development.
A foundation of diligence and early motivation
Dr. Cole’s path commenced in Brooklyn, New York, and progressed in Georgia, where he grew up after a year of schooling in Jamaica. As the youngest of at least 18 siblings and the child of immigrant parents from Grenada and Jamaica, he developed a profound respect for effort and determination. Motivated by his brother’s enthusiasm for the medical series House, along with his own encounters with sports-related injuries, he gravitated towards medicine early in life. Orthopedics, and eventually sports medicine, seemed ideal: a domain where he could merge his passion for sports, his admiration for healing, and his wish to assist patients in returning to active lifestyles.
Dr. Cole’s educational journey was equally remarkable. Beginning college at the age of 16, he graduated from Georgia State University in 2014, finished medical school at Morehouse School of Medicine, and matched into orthopedic surgery at Tulane University. Along the way, he became the first physician in his family, a milestone reflecting both his personal commitment and the impact of his parents’ unwavering work ethic.
Entrepreneurship during medical training
Medical school is highly demanding for most students. However, Dr. Cole combined his studies with entrepreneurial pursuits. While he worked as a waiter to help cover costs, he also initiated a tech startup aimed at connecting individuals with local events. Although the app did not achieve the success he envisioned, the experience imparted invaluable lessons in pitching to investors, managing intellectual property, and the significance of effective time management.
His entrepreneurial enthusiasm extended into the media realm. Inspired by Tim Ferriss and the Four-Hour Work Week, Cole launched his first podcast, Convos with Cole, while still enrolled in medical school. The show featured a diverse array of guests, granting him an unforeseen advantage: enhanced communication abilities. Recognizing the need for growth in conversation and networking, he challenged himself beyond his comfort zone. By conducting and sharing interviews, he transformed what once posed a challenge into a strong asset.
“Nailed It” and the synthesis of work and life
As residency commenced, Cole merged his clinical training with his podcasting passion. He co-founded Nailed It Ortho, an orthopedic surgery podcast that has surpassed 200 episodes and garnered over 300,000 downloads. The show discusses crucial clinical subjects while also exploring areas like physician finance, which are frequently neglected in medical education.
For Cole, podcasting was never merely an avocation. It embodied what he terms “work-life integration.” Rather than perceiving professional duties and personal interests as conflicting forces, he sought means to combine them. By addressing orthopedic themes through a podcast format, he not only absorbed knowledge pertinent to residency but also contributed to the education of fellow doctors and medical students globally.
Real estate, supplementary income, and attaining financial independence
Alongside podcasting, Cole delved into real estate as a means of diversifying his income. Together with classmates, he assessed properties and assigned roles to enhance efficiency. Subsequently, while in residency, he acquired a home and rented out rooms via Airbnb, generating a consistent side income.
These activities arose from a broader aspiration: financial independence. For Cole, and increasingly for his contemporaries, financial stability encompasses more than just retirement savings. It involves cultivating flexibility and security throughout one’s career, not limited to its conclusion. He observed that younger physicians are less inclined to spend decades working in hopes of eventual rest. Instead, they desire to create a sustainable lifestyle now: one that mitigates burnout, facilitates personal satisfaction, and allows time for service, such as participating in medical missions as volunteers.
Insights for physicians at every career stage
Dr. Cole’s perspectives illuminate vital themes for physicians at all levels of their careers. First, effective time management and concentration are essential. Whether studying anatomy or producing podcasts, Cole stressed the importance of dedicating undisturbed blocks of time to single tasks to boost productivity. Second, collaboration and utilizing others’ strengths can enable ambitious projects even amidst demanding training. Finally, financial literacy and diversification, whether through real estate, entrepreneurship, or side projects, can grant the liberty to pursue medicine according to one’s own conditions.
Conclusion
Dr. Wendell Cole epitomizes a new breed of physicians who view medicine not only as a profession but also as an integral part of a broader life strategy. By intertwining entrepreneurship, financial planning, and personal development into his journey, he presents a blueprint for emerging doctors.