White Coat Investor Podcast
747 episodes - English - Latest episode: 20 days ago - ★★★★★ - 2.2K ratingsHost, Dr. James Dahle, is a practicing emergency physician and founder of the White Coat Investor Blog. Like the blog, the White Coat Investor Podcast, is dedicated to educating medical students, residents, physicians, dentists, and similar high-income professionals about personal finance and building wealth, so they can ultimately be their own financial advisor—or, at least know enough to not get ripped off by a financial advisor! We tackle the hard topics like the best ways to pay off student loans, how to create your own personal financial plan, retirement planning, how to save money, investing in real estate, side hustles, and how everyone can be a millionaire by living WCI principles. Learn more at http://whitecoatinvestor.com/
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Episodes
WCI #372: Solo 401(k), TSP, Employer Match and Converting from Pre-tax to Roth Questions
June 20, 2024 06:30 - 37 minutes - 52.2 MBToday we are answering your questions about retirement accounts. We start out by addressing the recent change with Vanguard getting out of the solo 401(k) game. Then we talk about if you can contribute to both a solo 401(k) and the TSP if you are in the military, we discuss 401(k) employer matching, concerns around losing a non-governmental 457b, what to do with an inherited IRA, and converting from pretax to Roth. Today’s episode is brought to you by SoFi, helping medical professionals li...
MtoM #175: Pharmacist Pays Off Over $200,000 of Student Loans in 15 Months and Finance 101: Working Longer
June 17, 2024 06:30 - 19 minutes - 28.8 MBThis pharmacist has paid off $286,000 of student loans with just over $200,000 of that in the last 15 months. How did he do it? He basically doubled his income by getting a higher paying job and working a side gig in retail pharmacy on the weekends. He said getting that debt off his shoulders has felt incredible and he is loving not having to work as much at his side gig. He is now focused on building his wealth and his real estate empire. After the interview we will be talking about working...
WCI #371: Which Accounts Will Make Your Kids Rich?
June 13, 2024 06:30 - 39 minutes - 54.6 MBToday we answer your questions about rolling over an HSA, when to withdraw from your HSA, whether a UTMA or Custodial Roth IRA is better for your kids, if it is a good idea to open a solo 401(k) for your kids, how to maximize your 403(b) contributions and how to mimic the US Stock Market index fund if your 403(b) doesn't offer that. Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up to 4.6%...
MtoM #174: VA Physician Pays Off Student Loans and Becomes a Millionaire in 5 Years and Finance 101: False Diversification
June 10, 2024 06:30 - 20 minutes - 30 MBThis VA emergency doc has paid off $370,000 in student loans in only 5 years! Not only that but he and his wife are already millionaires. He said it is impossible to overstate how good it feels to have paid off those student loans. They have also put a huge percentage of their income towards building wealth. They are currently completely debt free and cruising towards financial independence. After the interview we will be talking about what false diversification means for Finance 101. Lea...
WCI #370: Communicating with Your Spouse About Finances When You Don't See Eye to Eye
June 06, 2024 06:30 - 48 minutes - 67.4 MBToday we spend some time talking about what to do when you and your spouse or partner do not see eye to eye about certain parts of your financial life. It can be extremely difficult when your vision does not align. But it is critical to work through it and get on the same page. We also answer another handful of questions about Roth IRAs, Roth conversions and rollovers, the mega backdoor Roth and more. Today’s episode is brought to you by SoFi, helping medical professionals like us bank, bo...
MtoM #173: Hospitalist Pays Off Student Loans in 2 Years and Finance 101: Buying a House as a Resident
June 03, 2024 06:30 - 19 minutes - 28.8 MBThis hospitalist has paid off $155,000 in only 2 years! He said he was able to stick to his aggressive payment plan because he also allowed himself to enjoy his life along the way. He left room in his budget for some travel and some of the little life luxuries that feel good. He is great example of finding that balance of building wealth and enjoying the process. Stick around after the interview for a Finance 101 discussion about buying a house as a resident. At PKA Insurance Group Inc – P...
WCI #369: Mortgages, Universal Life Insurance and Annuities
May 30, 2024 06:30 - 49 minutes - 68.5 MBToday we answer several of your mortgage questions including if you should put all the money you can toward your down payment or use some of it to pay off student loans and what kind of mortgage you should get. We discuss a unique situation around a universal life policy and once again answer that for the vast majority of docs no annuity in any of its sneaky forms is a worthy purchase, and finally answer a question about if paying off your student loans slowly actually improves your credit s...
MtoM #172: Family Doc Gets $500,000 Into Retirement and Finance 101: When You are Most Likely to Retire and Why
May 27, 2024 06:30 - 20 minutes - 30.1 MBToday we are talking with a family doc who has hit a big net worth milestone. He has been paying down debt all while building wealth totally half a million dollars. He tells us that he has been saving aggressively and accomplishing his financial goals, but still finding a balance with enjoying life and spending money too. Stick around after the interview for Finance 101 with a discussion on moments in your financial life that help push people towards retirement and why. Step away from the ...
WCI #368: DOs vs. MDs - Which is the Best Degree?
May 23, 2024 06:30 - 1 hour - 93.4 MBToday Dr. Dahle chats with Gastroenterologist, Dr. Ian Storch about all things DO medicine. They go in depth about DOs, including the history of Osteopathy and how that affected osteopathic education and practice today. They discuss the difference (if any) between MDs an DOs in education, job opportunities, and the practical hands on part of working. They discuss how to decide if you want to go the MD or DO route and so much more. Today’s episode is brought to you by SoFi, helping medical...
MtoM #171: Medical Student Creates a Budget and Finance 101: Donor Advised Funds
May 20, 2024 06:30 - 21 minutes - 31.7 MBToday we interview an MS1 who is celebrating making a budget for the first time. He said he wants to inspire others to do whatever they can to mitigate the financial burden of medical school. He shared that simply by having a budget he is actually spending less because he is more aware of where all of his money is going. We know that the earlier you get started becoming financially literate the better off you will be and this student is well on his way! After the interview we are talking abo...
WCI #367: The Importance of Asset Allocation
May 16, 2024 06:30 - 42 minutes - 58.9 MBToday we are answering your asset allocation questions. We talk about how to adjust your asset allocation and when to do it, what changes with asset allocation when thinking about your long vs short term investment plan, how to make the most of your asset allocation and more. We also have a philosophical discussion about economic growth and answer a question about if you can pass on bonds if you have a high risk tolerance and long investing horizon. Today’s episode is brought to you by SoF...
MtoM #170: Orthopedic Surgeon Completes His Military Commitment as a Millionaire and Finance 101: Itemizing Deductions
May 13, 2024 06:30 - 21 minutes - 30.7 MBToday we are celebrating this orthopedic surgeon completing his military commitment and becoming a millionaire. This doc served our country for 16 years and is now moving to a civilian job. They are moving from California to Minnesota and are looking forward to a dramatic salary increase and cost of living decrease. He worked hard moonlighting on the side and grew wealth by avoiding debt, and putting finances first. For finance 101 we are talking about itemizing deductions. At PKA Insuranc...
WCI #366: Tax Questions
May 09, 2024 06:30 - 42 minutes - 59.7 MBToday Dr. Dahle is answering all of your questions about taxes. He talks about FICA taxes, quarterly estimated payments, IRA contributions and tax deductions, paying taxes when you work in two states in one year, how to make your tax situation as efficient as possible and more. Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up to 4.6% APY on their savings accounts, as well as an investment...
MtoM #169: Homeless to a Quarter Million Dollars and Finance 101: Risk
May 06, 2024 06:30 - 24 minutes - 34.6 MBOur guest today has a unique and inspiring story. He shares his journey from college to homelessness to financial success. He talked about what he learned and how he views the world on the other side of homelessness including gratitude for what he has and needing a lot less to be happy. He has paid off six figures of debt and built wealth to a quarter million dollars. After the interview stick around to for a discussion about risk for Finance 101. Resolve is the #1 rated physician contract...
WCI #365: Disability Insurance with a Friend of WCI
May 02, 2024 06:30 - 1 hour - 111 MBToday our friend Dr. Tyler Scott is joining Dr. Dahle to talk about disability insurance as well as to help answer your questions. Dr. Scott is a licensed dentist turned financial planner as well as a columnist here at WCI. Dr. Scott is here to preach the message that all docs need disability insurance and shares his story of going on disability. Later they talk about HSAs, saving for future home expenses, capital gains taxes, and how to clean up a disaster of an investment account and more....
MtoM #168: Anesthesiologist Becomes a Millionaire and Finance 101: White Coat Investor Philosophy - 12 Financial Principles for Doctors
April 29, 2024 06:30 - 31 minutes - 44.3 MBThis anesthesiologist has become a millionaire only 3 1/2 years out of training. She has a high income and is saving a massive portion of it. Not only is she building wealth for herself but she also sends money home to help take care of her mother and grandmother. She teaches us about the impact of negotiating hard for yourself when it comes time to sign an employment contract. After the episode we will be talking about WCI's 12 financial principles for doctors for Finance 101. At PKA Insu...
WCI #364: High Yield Savings Accounts
April 25, 2024 06:30 - 58 minutes - 80.8 MBToday we are answering your questions about high yield savings accounts, why you actually need to write down your financial plan instead of just having it in your head, wether or not you should start a 529 if you are going to be an older parent when your kid goes to college, and if you should take out a mortgage when buying a house or raid your taxable account to pay cash and avoid a high interest rate. Dr. Dahle also responds to some criticism directed at WCI. Finally, we have our friends f...
MtoM #167: General Surgeon Becomes a Millionaire 3 Years Out of Training and Finance 101: Cars
April 22, 2024 06:30 - 28 minutes - 40.1 MBToday we are talking with a general surgeon who paid off his student loans only 7 months out of training. He then dove into growing his wealth and became a millionaire in 3 years. He said he and his wife have always been fairly frugal and good savers but they have also splurged on what they care about. This doc is a car lover and happily bought himself a corvette. He is a great example of building wealth while allowing your spending to reflect your values. After the interview we are gong to ...
WCI #363: Women and Their Finances
April 18, 2024 06:30 - 53 minutes - 74.7 MBToday we are talking with Britt Williams Baker, co-founder of Dow Janes. We explore the question of if there is a difference in finances for women vs. men. We discuss value aligned investing, what some financial stereotypes might be, how to get a less financially interested spouse involved to name just a few of the many topics. Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up to 4.6% APY ...
MtoM #166: Family Docs Pay Off $705,000 in Student Loans and Finance 101: Rich Dad Poor Dad
April 15, 2024 06:30 - 27 minutes - 38.7 MBThis dual physician couple has paid off over $700,000 of student debt only four years out of training. They are both family docs living in California. They had the great insight that when you choose to live in California you need to view your cost of living as your luxury item. How did they do this so quickly? They lived frugally, got rid of their expensive car and dove into tackling their debt with extreme focus. They feel liberated after getting rid of that debt and love the flexibility th...
WCI #362: Recasting a Mortgage and Beating a Non Compete
April 11, 2024 06:30 - 32 minutes - 44.9 MBToday we are answering your questions about how to get rid of a timeshare that was gifted to you, if it is legal or a good idea to use student loan money for a downpayment, if you should pay off your mortgage early and what recasting a mortgage is and if it is a good idea. Dr. Dahle also answers a few questions about non compete contracts. Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up ...
MtoM #165: Pediatric Resident Gets Back to Broke and Finance 101: Mutual Funds
April 08, 2024 06:30 - 20 minutes - 30.2 MBThis pediatric resident is preaching the importance of having a written financial plan. He is a second year resident and got back to broke by knowing exactly what to do with a windfall because he had a written plan. He took the Fire Your Financial Advisor course and now has all of the knowledge and skills he needs to stay on the road to financial independence. After the interview we will be talking about mutual funds for Finance 101. Resolve is the #1 rated physician contract team, reviewi...
WCI #361: Financial Pathways for Attorneys
April 04, 2024 06:30 - 57 minutes - 79.8 MBToday we are having our first ever full episode focused on lawyers. Our friend and lawyer, Chris Avery, joins Dr. Dahle to discuss education costs and processes for legal professionals, when and why what school you go to matters, what bimodal pay is and what it has to do with lawyers, what lawyers typically make, if there really is a difference with lawyer vs. doctor finance and so much more. Tax season is now nearly over, and it's usually when most doctors with 1099 income worry about hav...
MtoM #164: Orthopedist Starts a Real Estate Empire as a Resident and Finance 101: Real Estate Professional Status
April 01, 2024 06:30 - 26 minutes - 37.9 MBThis Orthopedist got started building his real estate portfolio while he was still a resident! Now after only 4 years he has a multi million dollar real estate empire. He said he began his journey by learning everything he possibly could about real estate and finances when he was in his second year of residency. Once he had the confidence he had the knowledge he needed he hit the ground running and hasn't looked back. After the interview we will talk about real estate professional status for...
WCI #360: Student Loans and Filing Your Taxes
March 28, 2024 06:30 - 47 minutes - 66.6 MBToday we had a handful of tricky student loan questions particularly in regards to taxes. It is always hard to answer questions with that level of specificity! Don't forget to visit studentloanadvice.com to get help with your student loans and repayment plan. Today we answer questions about filing taxes in med school, filing taxes when you are married on the PSLF track, filing taxes when you are on the SAVE plan and more! Healthcare is changing, and so are you. Your current career goals ar...
MtoM #163: 74 Year Old Woman Becomes A Millionaire and Finance 101: Choosing a 529 Plan
March 25, 2024 06:30 - 19 minutes - 28.6 MBToday we are talking with an entrepreneur and author who became a millionaire in her 70s! She has a passion for inspiring others to live their fullest lives. She built a successful consulting business and her 11th book is about to come out. She talks to us about the importance of persistence and going after the what you are passionate about. We think you will find her message inspiring! After the interview we will be talking about choosing a 529 plan for Finance 101. Resolve is the #1 rate...
WCI #359: Tax Deferred vs. Roth Contributions: A Deep Dive
March 21, 2024 07:30 - 1 hour - 104 MBToday Chris Davin, engineer and self taught master of all things Roth, joins Dr. Dahle on the podcast. For anyone who has ever wanted to get all the way into the Roth weeds, this episode is for you. We talk about Roth IRAs, the Backdoor Roth, the Mega backdoor Roth, Roth conversions, and what all of those things mean. We discuss how to determine if you should be doing pre or post tax contributions and why, and how your taxes and tax rate should be considered when deciding what kind of contri...
MtoM #162: Ophthalmologist Acquires $50 Million and Finance 101: Estate Taxes
March 18, 2024 07:30 - 29 minutes - 41.9 MBThis doc recently retired after a 40 year career that he loved with a nearly $50 million portfolio. He has been living and preaching the WCI methodology long before WCI existed. He tells us part of his secret to success is to choose where you live wisely and own your own business. He said owning his own surgery center made a massive difference to his happiness and his wealth because he got to control the way the practice was run, how efficient it was, who worked there etc. He is a testament ...
WCI #358: What to Do When You Don't Match, and Annual Survey Results
March 14, 2024 07:30 - 55 minutes - 77.1 MBToday we are talking about what your options are if you do not match this week. It can be one of the hardest things to face and knowing what your options are and what steps to take next can help ease the difficultly just a bit. We also spend some time telling you about the results of our annual survey. The survey is a huge part of how we decide what changes to make here at WCI. Finally we tackle a few of your questions about annuities, if you should ever invest with a family friend and where...
MtoM #161: Nurse Becomes a Millionaire and Finance 101: How to Get Started
March 11, 2024 07:30 - 28 minutes - 41.1 MBToday we talk with a nurse who is currently in school to become a CRNA and is officially a millionaire. Roughly 10 years ago he and his wife took control of their finances. He said there was some tough conversations as they educated themselves about how to become financially literate and what their goals should be and how to reach them. But once they were on the same page they were able to start crushing their goals. Their big goal was to be millionaires by 40 and they got there a few years ...
WCI #357: Roth IRAs, Conversions and Backdoor Contributions
March 07, 2024 07:30 - 58 minutes - 81.9 MBToday our friend Chad Chubb is joining us for our next Friends of WCI episode. It is Roth season they answer more of your Roth questions. They cover Roth IRAs, conversions and contributions. They also talk about the difference between wants and needs, particularly around things like cars, or in Jim's case a big ole' F-250. Before wrapping up Jim and Chad debate the merits of living like a resident. Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borro...
MtoM #160: Dermatologist Pays Off Student Loans In Less Than A Year And Finance 101: Physician Mortgages
March 04, 2024 07:30 - 23 minutes - 33.5 MBThis dermatologist paid off his student loans and built his net worth to $150K just one year out of training. Not only did he accomplish all of that but has started the process of creating his own practice after learning that the clinic he worked at was selling to private equity. He shared his thoughts about the impact of private equity on young doctors and the challenge of learning how to build a practice as you go. Stick around after the interview for a discussion about physician mortgages...
WCI #356: The Struggle To Financially Support Your Parents
February 29, 2024 07:30 - 33 minutes - 47.6 MBToday we are answering your questions from email and social media. We discuss what happens inside a 401(k) or 403(b) if you change your type of contribution, how to know if you have a good CPA, what constitutes a super saver and If you can roll your 403(b) into a Roth IRA and do a backdoor Roth in the same year. We tackle a back door Roth conversion question and talk about the challenges for someone who is financially supporting their immigrant parents. Everyone has a story. Different need...
MtoM #159: Surgeon Gets PSLF Via the Waiver and Finance 101: Probate
February 26, 2024 07:30 - 25 minutes - 36.9 MBOur guest today is a surgeon who got almost $250,000 of student loans forgiven with PSLF thanks to the new waiver. She was the beneficiary of having her loans forgiven under the current IDR waiver for PSLF. She is hoping that if your situation is similar that you also take advantage before the waiver expires on April 30th. She has also worked hard to take her net worth from a negative $350,000 after training to just over half a million. After the interview we will be talking all about probat...
WCI #355: Burnout in Women with Dr. Darria Long
February 22, 2024 07:30 - 54 minutes - 75.6 MBToday on the podcast Dr. Darria Long joins Dr. Dahle. Dr. Long is an ER doc, mom of 3, author, National TV contributor, educator, entrepreneur and researcher. She is passionate about helping women have healthier and better lives. Dr. Dahle and Dr. Long discuss a large study she conducted about burnout among women and the fascinating findings from it. They discuss ways to combat burnout, the dangers of social media for children and adults, how to triage your life and so much more. Today’s e...
MtoM #158: Hospitalist Pays Off Student Loans in Just Over 2 Years and Finance 101: Emergency Funds
February 19, 2024 07:30 - 20 minutes - 30.3 MBThis hospitalist paid off $235,000 only 2 years out of residency. She has always been very debt averse and knew she wanted to get rid of it as quickly as possible. Nearly half of her income went to paying off her loans. She said paying off the debt was easier than she thought it would be largely because she is comfortable living like a resident. Her next goal is to buy a new car with cash. She plans to save for a house eventually but currently wants to pour money into her retirement accounts...
WCI #354: Mega Backdoor Roth Contributions with Minimal 1099 Income
February 15, 2024 07:30 - 33 minutes - 46.5 MBToday we tackle a few of your questions about 529s. We answer some questions about when you have to pay taxes on your rollover IRA contributions to Roth as well as a question about Mega Backdoor Roths. We talk about structured notes and what the advantages and disadvantages are to saving for minors using a UTMA vs. a parental brokerage. Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals...
MtoM #157: Dual Income Couple Pays Off Mortgage Among Other Financial Milestones and Finance 101: Dividend Investing
February 12, 2024 07:30 - 24 minutes - 35.6 MBThis dual doc couple got a bit later start getting their finances in order. Once they realized that they had been practicing for around 10 years and they had not built the wealth they anticipated they made some changes and got to work! In only a few years they paid off their mortgage, became multi-millionaires, cash flowed new cars and saved enough to get their kids through college. Now they are saving lots of money and looking forward to cutting back at work. She shows us that you can make ...
WCI #353: Lesser Known Tax Strategies
February 08, 2024 07:30 - 57 minutes - 79.5 MBToday we are talking to Alexis Gallati of Cerebral Tax Advisors all about controversial, aggressive and often little known tax deductions. We ask her about all kinds of topics and how to execute on them in a way that will not get us into trouble with the IRS. We talk about when they are risky, when they aren't risky and if you should use them or not. Some topics we cover are land conservation easements, captive insurance companies, self rentals, employing your spouse or children, cost segreg...
MtoM #156: Family Doc Pays For a Dream Wedding With Cash and Finance 101: How to Wire Money
February 05, 2024 07:30 - 22 minutes - 33 MBToday we are celebrating this family practice doc cash flowing his dream wedding! This super saver had to get comfortable spending a pretty big chunk of change to bring his and his wife's dream to life. He learned that while saving for your future is crucial it is also important to learn how to spend well and enjoy your money. He worked hard and saved both for the wedding and for retirement at the same time. His next financial goals include paying off his student loans in the next few months...
WCI #352: How to Reduce Capital Gains on Property Sales
February 01, 2024 07:30 - 58 minutes - 81.1 MBToday we are answering your questions. We talk about capital gains taxes when selling a vacation home, then get into the age old debate about if it is a good idea to buy a house during residency. Dr. Dahle gives advice on things to think about when you are shopping for a new car, then he gives ideas for things to think about when considering buying into a practice. Finally, we answer a few questions about taxes. At some point in our financial lives, it will be time to buy a home. A physici...
MtoM #155: Pediatric Dentist Gets Back to Broke and More and Finance 101: Ways to Earn More Money as a Doc
January 29, 2024 07:30 - 22 minutes - 32.7 MBThis pediatric dentist has gotten back to broke and a little beyond. In only a few years out of training her net worth has had nearly a half a million dollar swing. She began her financial literacy journey in college and by the time she completed training she was well versed in how to save and invest and grow her finances. She is also a lovely example of an immigrant family working together and working hard to give new opportunities to the younger generation. Stick around after the interview...
WCI #351: Physician Side Gigs
January 25, 2024 07:30 - 49 minutes - 69.3 MBToday we are talking about physician side gigs. Docs have all kinds of side gigs that make a big impact on their financial life. Today we have 3 guests on the podcast who are going to tell you what they do. Dr. Gretchen Green does expert witness work, Dr. Daniel Smith opened IV clinics, and Dr. Rikki Racela takes medical surveys. There is a huge range of what you can do to bring in extra income with an equally large variety of barrier to entry. We hope these interviews inspire you to finally...
MtoM #154: Psychiatrist Pays Off $460,000 in Student Loans and Finance 101: Rebalancing Your Portfolio
January 22, 2024 07:30 - 28 minutes - 40.4 MBThis Psychiatrist paid off a whopping $460,000 in only 2 1/2 years! How did he do it? He picked up an extra job and worked as much as possible to bring in as much money as he could and ended up putting nearly $25,000 per month towards the debt! He made a handful of mistakes including over spending and stock picking before he learned that there was a better way! His financial awakening happened when a friend introduced him to the White Coat Investor Podcast. He shared that it is easy to make...
WCI #350: Paula Pant & Permabears
January 18, 2024 07:30 - 58 minutes - 81 MBToday we have our friend Paula Pant on the podcast. She is one of our Keynote speakers at WCICON24 that you will not want to miss. Today Paula and Dr Dahle cover a whole host of topics including Perma-Bears on the economy, the housing market in 2024 and if you should buy a house now or wait, and even Bitcoin spot ETFs. They also talk about career burnout and how Paula took a year long sabbatical to do an internship to allow herself time to recover from her own burnout. Resolve is the #1 ra...
MtoM #153: Emergency Medicine Physician Pays Off $315,000 of Student Loans in One Year and Finance 101: Health Insurance in Early Retirement
January 15, 2024 07:30 - 30 minutes - 43.9 MBThis emergency medicine doc paid off a whopping $315,000 in only 12 months! He and his wife made some aggressive goals during residency to live like residents and work hard to get rid of their loans as quickly as possible. They show us that we can tackle anything we want if we are willing to work hard for it! After the interview stick around for a finance 101 discussion about health insurance in early retirement. If you’re like most doctors, nobody taught you anything about personal financ...
WCI #349: Is Over Contributing to Your 403(b) Ever a Good Idea?
January 11, 2024 07:30 - 1 hour - 93.4 MBToday is another Friends of WCI episode. Tyler Olson of Olson Consulting joins Dr. Dahle to answer your questions. They talk about paying taxes and if you should use a professional or do them yourself. They discuss medical loans and how taxes work with those. They discuss what to do with an old SEP IRA, if it is ever a good idea to over contribute to a 403(b) and the difference between average cost basis and actual cost basis. Cerebral Tax Advisors: As the new year starts, it's crucial to ...
MtoM #152: Neuroradiologist Hits a Net Worth of Half a Million Dollars Upon Exiting Training and Finance 101: Schedule A Tax Return
January 08, 2024 07:30 - 26 minutes - 38.1 MBThis Neuroradiologist is growing his net worth like crazy. He discovered WCI in training and educated himself on how to reach financial independence. He and his wife had many discussions about how they wanted their financial journey and savings plan to look before getting married. They followed their plan with discipline and had a serious amount of savings by the time he finished training. They lived like a resident and have had a 25 - 40% savings rate. This guest shows us what can happen if...
WCI #348: How Much Should Location Matter When Choosing a Residency?
January 04, 2024 07:30 - 49 minutes - 68.7 MBToday we are answering your questions! Before we get to those we have a few follow up comments from listeners from episode #345 about DAFs. We talk about the possibility of companies offering DAFs ability to control which charities you can or cannot donate to. Then we get into your questions about saving for intermediate term goals, institutional malpractice policies, how to safely invest in real estate and more! Cerebral Wealth Academy: As we kick off 2024, dive into Cerebral Wealth Acade...
MtoM #151: Family Doc Gets His 457(b) Plan Changed For the Better and Finance 101: 457(b) Plans
January 01, 2024 07:30 - 24 minutes - 35.4 MBThis doc wanted to see big changes made to his 457(b) plan so he got involved with the committee and ultimately helped to make massive changes. He helped to get the 457(b) changed from a single distribution upon retirement or leaving the job to the option of distributions for up to 15 years. This is a HUGE and important change that will mean the difference of thousand and thousands of dollars for everyone who uses the plan. We hope you find this episode as inspiring as we did! After the inte...