Financial Literacy for Kids: How Dr. Michele Cho-Dorado Became an Author to Help Children Reach for the Stars

“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. 

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.

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.

💡 Featured Guest 💡

Name: Dr. Michele Cho-Dorado

What she 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 to 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

💰 On the Money 💰

Top takeaways from this episode 

• Don’t pigeonhole yourself in your work. Dr. Cho-Dorado always considered herself just a doctor. When she became curious about her money and how to make better financial decisions, she got creative. Following those interests and creative drives led Dr. Cho-Dorado to become an author and entrepreneur. 
• Make your money work for you. Physicians typically make good money. Dr. Cho-Dorado learned about different asset classes and how to make her money work for her rather than strictly working for money. In addition to the stock market, she learned about real estate investments, as well as mutual funds, exchange-traded funds (ETFs), and bonds.
• Teach your kids about money. Shane and Dr. Cho-Dorado discuss practical tips for teaching kids about money. They include being transparent, talking about all things money, introducing concepts, and demonstrating the behaviors and concepts that you are teaching.

⚡ Prosperous Insights ⚡

[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. C