Financial Freedom for Physicians with Dr. Christopher H. Loo, MD-PhD

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Dr. Christopher H. Loo, MD-PhD: Hey guys, welcome to this week's podcast episode. I'm really excited about today's guest, Annie Margarita Yang. She's the best-selling author of "The 5-Day Job Search". It's going to be a fascinating discussion. She has so much experience around student loans, career choices, career transitions, and the differences between millennials and Gen Z. I'm really excited to get into the conversation. So, Annie, welcome.

Annie Margarita Yang: Thank you for inviting me to your podcast, Chris. I'm so excited to share with you some actionable tips and insights today from "The 5-Day Job Search".

Dr. Christopher H. Loo, MD-PhD: Yeah. So, you know, you have a really interesting story. Can you tell people about your process and how Millennials and Gen Z are going about their values in a cultural shift from the boomers?

Annie Margarita Yang: Well, I'm on the tail end of Gen Z. No, not Gen Z. I was born in 1995, so I'm really more of a younger millennial. I think we're quite different from the older millennials who actually did believe the generation before us when they told us to just go to college and everything would be fine after you finish. Then they came to see millennials postponing major milestones, such as buying a house. They're not starting families, they're not getting married; everything they thought they could achieve is just getting postponed. So, when I was finishing high school, this was in 2013, around 2011 to 2013, we were in the middle of the recession, still recovering. I looked at the millennials before me, read the news, and it said half of the millennials were underemployed or unemployed after finishing college. They had an average of $26,000 in student loan debt. I thought, "Wow, I don't want this." I was raised with Asian values. My parents always told me not to borrow money from anyone. They're working class. We didn't have money for me to go to college just to find myself there. I didn't have the time or money to waste. So, I didn't go straight to college. I ended up working a string of minimum wage jobs: cashier at ShopRite, scanning basketball tickets, among other things. Eventually, I did go to college for communication. What are you going to do with that kind of degree? I didn't know. After that, I worked at Domino's Pizza. I thought, okay, this really didn't help me. But then I moved from Texas to Boston. I said, "I'm going to make something of myself. I'm going to leave my mark on the world. I'm going to go after everything I want and not apologize for it." So, I started applying for accounting jobs without an accounting degree. I applied to 50 jobs a day, and by the end of the week, I got an accounting job offer. Surprisingly, I wasn't hired for my lack of degree. He liked my spunk, and then I did this for three jobs in a row. So, on the third job search, I got another accounting job in just five days. That's why it's called "The 5-Day Job Search".

Dr. Christopher H. Loo, MD-PhD: Yeah, really fascinating story. And, you know, what's interesting is that I'm an exennial, kind of an older millennial or younger Gen X. What's so interesting is when I talk to my friends, especially after 2008, everything the boomers did, you didn't want to do. It's kind of this paradigm shift where, as you mentioned, people are not getting married, not having kids, foregoing college, and not pursuing traditional jobs. The internet has enabled people to have this ability to create their own economic freedom, especially with social media and with your book. So, one thing I want to discuss is, in today's digital age, what does personal branding truly mean?

Annie Margarita Yang: The thing is, people think they don't have a personal brand. But in this digital age, everyone has a personal brand. Even if you don't have a LinkedIn, Facebook, Instagram, or any of those platforms, your personal brand is essentially the "no personal brand" brand. And if you do have those accounts and you're not curating your content, just posting things like what you ate for dinner last night, then your personal brand is simply "this is what I ate for dinner last night". Even if you want to opt out of this, you don't get a say, because a personal brand is what other people think of you. You can try your best to curate and control what others say about you to affect their perception, but in reality, you don't get a final say. Adopting this philosophy, I believe, will lead to success in today's job market.

Dr. Christopher H. Loo, MD-PhD: Yeah, it's interesting. For example, on platforms like Instagram, YouTube, or TikTok, if you're a celebrity, have an athletic skill, are attractive, or have some other unique trait, you can easily and quickly create a following. I know many people are making six figures on social media without undergoing traditional education or the rigors of job seeking. The question I have is: How does personal branding differentiate a job seeker in a competitive market, and how can it elevate an individual in their niche?

Annie Margarita Yang: What people don't understand is that in this job market, your personal brand – essentially anything people can search for your name on Google and find online about you – is the new resume. It used to be that if you wanted to apply for a job, you had to mail it in. That was before email. Now, with the internet and email, you want to apply for a job, you click apply, and the employer gets your application right away. But this style of applying for a job is so old school. The fact is, most employers are looking to hire someone before they even post an application online. For example, they'll ask, "Do you know anybody who would be a good fit for this job?" before they even consider posting on a job board. When I did research and tried hiring on my own by posting on a job board, it cost a couple hundred dollars. At my full-time job, while I'm promoting this book, my boss was paying $600 to $800 a month for his ZipRecruiter subscription. That's a lot of money. So, if you already have a personal brand online with your LinkedIn, Facebook, and everything showcasing your best self, it really helps elevate your position in the job market. People look at you and think, "This person seems right for the job." Let me give you an example. My balcony is very old, about 50 years old. It needed to be redone, so I needed to hire an architect. My contractor recommended his friend, Raquel. She texted and called me, introducing herself and offering her services for $1,500. That's quite a sum. Before I spent that amount, I wanted to look her up to ensure she knew what she was doing. But she didn't provide her last name. Her email said "Raquel Architect," her email signature read the same, and even her Venmo was "Raquel Architect." So when I tried to look her up on Google with "Raquel Architect Boston," I couldn't find anything. I began to question her legitimacy. That, right there, is her brand.

Dr. Christopher H. Loo, MD-PhD: Yeah, it's funny because my niece and nephew don't even know what CNN, Fox News, or NBC are. They turn to TikTok and Instagram and follow influencers for recommendations, whether it's restaurants, food, desserts, or places to hang out with friends. In my generation, we used Google and Facebook, but now things have shifted. For someone just starting out, either looking for a job or considering a career transition, what are the initial steps they should take to establish a strong personal brand?

Annie Margarita Yang: The number one thing that everyone has to do is get a highly professional headshot. You cannot use an iPhone to take a picture of yourself. Someone once asked me if they could use a photo from a wedding they were attending in two weeks. I told them, "No." If you're applying for an accounting position, what you wear to a wedding and how you present yourself says nothing about your professionalism as an accountant. For roles like accounting, you want a plain white background that communicates, "I'm corporate. I'm about business. You can take me seriously. I pay attention to small details." If you don't have that kind of headshot, chances are you won't leave a lasting impression. For example, right now, as I'm trying to brand myself as a best-selling and award-winning author, I needed a new headshot. After writing this book, I went to a hairstylist and asked her to make me look like a celebrity. She styled my hair beautifully. I then went to a makeup artist, not knowing he had previously worked with celebrities like Steve Jobs and the Royal family of Morocco. After he finished, I looked in the mirror and felt like a star. The photographer, who was also experienced with celebrities, had me strike certain poses. I left feeling like I was on the path to becoming rich and famous. The kind of photo you present truly speaks volumes and influences what people think of you online.

Dr. Christopher H. Loo, MD-PhD: Yeah, and what are some common missteps, especially for thought leaders and influencers in the professional realms, such as what you're doing in accounting or in fields like real estate, finance, or consulting? What are some common mistakes people make when crafting their personal brand? How can they be avoided? What have you observed?

Annie Margarita Yang: In planning the promotion for "The 5-Day Job Search," I made a list of all the best-selling authors in the career and self-help categories. I researched these authors one by one to try to reverse-engineer what they did, to understand what they did well and where they faltered. My aim was to create a plan that would ensure my success.

Surprisingly, I found that even best-selling authors often get this wrong. Many of them haven't secured all of their social media handles. I'm not just talking about the well-known platforms but all of them, including Clubhouse, TikTok, Twitch, and others. It's essential to have consistent handles across platforms because when people search for you, you want Google to index all of them on one page.

Another inconsistency I noticed was their profile pictures. Many didn't use the same headshot across their profiles. So, on one profile they might have one photo, and on another, a completely different one. You want people to recognize you consistently across the internet, and the best way to ensure that is to use the same headshot everywhere.

Additionally, a significant mistake I noticed is that many zoomed out too much in their photos. Instead of focusing on their face, they included too much of the background or their body. What's essential online is for people to get a clear view of your face, ideally from the collarbone up. Those are the three most common mistakes I've observed repeatedly.

Dr. Christopher H. Loo, MD-PhD: Yeah, it's quite interesting. I want to transition to talk about consistency in personal branding across different platforms. Do you have any tips for maintaining this consistency?

Annie Margarita Yang: Yes, one of the first things is to consistently use the same name. For example, a guy approached me two weeks ago for help with his branding. He mentioned that his real name is Constantine, but his nickname is Dean. I asked him, "What do people at work call you?" He replied, "Dean." So I wondered, why is he using the name Constantine on his LinkedIn profile when even his coworkers know him as Dean? I advised him to change his name to Dean followed by his full last name across all profiles. This consistency is crucial because when people search for you on Google, you want them to easily find you, just like I was trying with the architect. For my branding, even though there are many Annie Yangs out there, I'm fortunate that my parents gave me a middle name. So, instead of just Annie Yang, I began branding myself as Annie Margarita Yang. Before this deliberate branding, I simply went by Annie Yang. But now, when people Google "Annie Margarita Yang," the first few pages of results are all about me and no one else.

Dr. Christopher H. Loo, MD-PhD: I love the idea of dominating a niche, especially when it comes to keyword searches. When people search for topics in your niche, it's crucial for your name to appear prominently. SEO is so important. We've discussed your journey, personal branding, the dos and don'ts, and the importance of consistency. Let's now talk about your book and where people can find it. You also have quite a following on YouTube with 18,000 followers and more than a million views. How do you integrate your YouTube approach with building your online personal brand? And how do you balance all this with still having a full-time job?

Annie Margarita Yang: Yes, I still have what's termed a "full-time" job. However, after I transitioned to remote work, I managed to automate a large portion of my tasks. In reality, I work between 10 to 15 hours a week for the same pay. My boss is aware of this. I never sought a raise, but given the reduced hours, my effective pay rate has increased. I like to use the additional free time to build my business. Originally, it was "Annie Yang Financial" for accounting services, where I provided bookkeeping services for real estate developers, property managers, and investors. But given the massive layoffs in the past 12 months, I felt compelled to pivot. That's when I wrote "The 5-Day Job Search" to assist those who found themselves unemployed and in need of a swift job search solution. However, when I witnessed the bank runs in March 2023, I became deeply concerned. I genuinely believe we're on the brink of a significant economic collapse, despite assurances that the recent bank run was an isolated incident. My current focus is on promoting the book and getting it into the hands of as many people as possible.

Dr. Christopher H. Loo, MD-PhD: Our financial system is really unstable. It's interesting because I have many colleagues who, even after scheduling an appointment to get a cashier's check and depositing funds weeks in advance, end up spending hours at the bank on the day of the appointment. They face numerous checks and verifications. The system feels shaky, especially with the elimination of certain FDIC limits. It's a concerning sign. That's why we need influencers like you to guide us. As we approach the end of our conversation, can you tell our listeners how to find you? You're active on social media, and you've authored "The 5-Day Job Search" as well as another book, "1001 Ways to Save Money". How can people reach out to you and check out your work?

Annie Margarita Yang: To check out my work, they can visit annieyangfinancial.com. For a limited time only, I'm offering a 10% discount on a personally signed copy. If you go to Annieyangfinancial.com and use the coupon code DOCTOR10 (that's D-O-C-T-O-R-1-0), you can avail of the 10% discount on the signed copy. Additionally, if you're in the United States, this offer also includes free domestic shipping.

Dr. Christopher H. Loo, MD-PhD: Yes, and for all the audience out there, I'd like to thank Annie for coming on to the show. Links to her books and other resources will be in the show notes. She's also on YouTube, TikTok, LinkedIn, Twitter, Instagram, and Facebook, which will all be linked there. With that, thanks so much for coming on to the podcast.

Annie Margarita Yang: Thank you so much, Chris. I really appreciate you having me on the show.