284: How I Retired at 34: Dr. Mike Woo-Ming Reveals His Wealth-Building Secrets
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
Release Date: 03/12/2025
Ep311 - Resilience Redefined : From Battlefield ICU to Physician Coach
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
How can military-honed resilience and positive psychology supercharge physician leadership? In this episode of Bootstrap MD, host Dr. Mike Woo-Ming interviews Dr. Christopher Colombo, as he shares his path from elementary school dreams of medicine to active-duty training, and his post-retirement "Lego break" before embracing part-time ICU night shifts and executive coaching. Inspired by a fellow physician's transition, he pursued training in executive and positive psychology coaching to address the personal-professional overlaps that frustrated him—like compartmentalizing life domains...
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Ep310 - From Bedside to Boardroom: Dr. Michael Fang’s Quest to Revolutionize Healthcare
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
What does it take for a geriatrician to become a healthcare innovator impacting millions? In this episode, Dr. Mike Woo-Ming sits down with Dr. Michael Fang to share his journey from practicing medicine to co-founding Base10, an infection control software that saved lives in 150 nursing homes during the COVID pandemic, generating over $35M before its acquisition. He also co-founded Inosphere, impacting 7M mental health patients in the UK, Ireland, and Scotland. Now, as Chief Strategy Officer at Northwestern’s Feinberg School of Medicine and CEO of Rise Health, Dr. Fang is redefining...
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Ep309 - The Wealth Ladder: 6 Levels Every Physician Must Climb to Escape the Hamster Wheel
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
In this episode, host Dr. Mike Woo-Ming exposes the "great physician money lie"—that high income automatically leads to wealth—and shares transformative insights from the book "The Wealth Ladder." Drawing from his 20+ years as a physician entrepreneur, he explains why many doctors earning $300,000+ live paycheck to paycheck, trapped in lifestyle inflation and employee mindsets. Dr. Woo-Ming breaks down the four levels of the wealth ladder, from financial insecurity to true freedom, and provides a simple formula to calculate your net worth. He emphasizes shifting from trading time for...
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EP308 - Digital Marketing Demystified: A Roadmap for Growing Your Practice with Andrew Newland
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by: My Financial Coach You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity. Visit...
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Ep307 - The 4P Framework for Physician Branding Success
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by: My Financial Coach You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity. Visit to...
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Ep306 - Why Smart Doctors Stay Poor (And How to Instantly Fix It)
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by: My Financial Coach You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity. Visit to...
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Ep305 - Ten Ways I Use ChatGPT as a Physician Entrepreneur
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by: My Financial Coach You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity. Visit to...
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EP304 - Why Systems, Not Goals, Drive Physician Entrepreneur Success
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by: My Financial Coach You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity. Visit to meet your...
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Ep303 - Buying a Business: A Shortcut to Physician Entrepreneurship
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by: My Financial Coach You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity. Visit to meet your...
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Ep302 - YouTube vs. Podcasting vs. Webinars: Where Should You Focus?
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by: My Financial Coach You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity. Visit: to meet...
info_outlineThis episode is sponsored by: Set For Life
Set for Life Insurance helps doctors safeguard their future with True Own Occupational Disability Insurance. A single injury or illness can change everything, but the best physicians plan ahead. Protect your income and secure your future before life makes the choice for you. Your career deserves protection—act now at https://www.doctorpodcastnetwork.co/setforlife
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Many physicians are looking for ways to achieve financial freedom beyond the traditional medical career path. In this episode, Dr. Mike Woo-Ming breaks down the seven essential wealth-building habits that have allowed him and other physicians to build successful businesses, diversify income, and gain control over their time.
Dr. Mike shares his journey—leaving corporate medicine at 34, building and selling businesses, and ultimately creating a life where he works on his own terms. He also discusses the common mistakes physicians make with money and how to develop a wealth-building mindset.
Three Actionable Takeaways:
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Live Below Your Means: Avoid unnecessary spending and prioritize investing in income-generating assets.
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Invest in Yourself: Continuously improving your skills, whether through education, mentorship, or networking, will lead to greater financial opportunities.
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Focus on Revenue-Generating Assets: Instead of chasing multiple income streams simultaneously, concentrate on building one successful income stream before diversifying.
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