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/
Homepage Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
WCI #247: Bonds and Tax Loss Harvesting
January 27, 2022 07:30 - 49 minutes - 69.2 MBThis episode is all about bonds and tax-loss harvesting https://www.whitecoatinvestor.com/tax-loss-harvesting/. We get into what some good options for bond substitutes are as well as what are not good options for bond substitutes. We talk about the popular I Bonds https://www.whitecoatinvestor.com/series-i-bonds-are-they-right-for-you/ and when you should get some or if it is worth sticking with tax-protected stocks in a total bond fund instead. We go over some of the basics of tax-loss har...
MtoM #50 - Orthopaedic Surgeon Pays Off All of His Debt in 6 years
January 24, 2022 07:30 - 14 minutes - 20 MBThis story demonstrates just what can be done with income. This doctor grabbed the bull by the horns, opened his own practice and became very successful. Have you thought about opening your own practice? Have you thought about geographical arbitrage? This is what it can look like. Surgeons are needed in medium and small towns across America. You will be doing a great service and give yourself a tailwind in your financial life. Learn more about geoarbitrage here https://www.whitecoatinvestor....
WCI #246: Early Retirement Now
January 20, 2022 07:30 - 1 hour - 104 MBOur guest in this episode is Dr. Karsten. He's the mind behind the Early Retirement Now blog. He completed a PhD in economics, worked for the Federal Reserve for a while and taught economics. He joined the research department of an investment manager and got a CFA designation. He spent 10 years there before punching out to live the FIRE lifestyle a few years ago. He spent the first few months out on a world tour, visiting 20 plus countries, then settled down in the Northwest with his family....
MtoM #49 - EM Doc Pays Off Loans and Reaches $250K Net Worth
January 17, 2022 07:30 - 13 minutes - 19.2 MBWe love that doctors are passing around this financial information from one to another. Be smart about how you manage your money and pass this information on to your peers. If we will give this information to each other, the entire profession will be better, healthcare will be better, as doctors will be able to focus more on their patients and take better care of their families and partners. You can increase your fulfillment in life, including your career, by taking care of your finances. h...
WCI #245: The Backdoor Roth Lives On
January 13, 2022 07:30 - 37 minutes - 52.8 MBToday we discuss what happened in Congress and how, for now at least, the backdoor Roth lives on. You can proceed with your contributions as planned. Check out our tutorial to see how: https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/ . If at some point Congress decides to make this retroactively illegal, we will walk you through the process of undoing those contributions. We also discuss whether it is worth refinancing your student loans if you are not going for PSLF despite the...
MtoM #48 - Family Docs Pay Off $570K
January 10, 2022 07:30 - 11 minutes - 16.5 MBThis family doc couple took nine years to pay off $570K. They had far more than average debt and lower than average salaries. They’ve invested along the way so they are not starting from scratch with their retirement. But they now get to make changes in how and how often they practice medicine. That is the reward of taking care of your finances. Check out the WCI readers’ tips on how to make more money as a family medicine physician. https://www.whitecoatinvestor.com/double-your-income-prim...
WCI #244: The Finances of Professional Cyclists
January 06, 2022 07:30 - 44 minutes - 62.2 MBOur special guest today is Toms Skujiņš. Toms is a professional cyclist, an avid podcast listener and a White Coat Investor. Toms races at the highest level and is currently the best cyclist in Latvia in not just one discipline, but two. He's been the Latvian national time trial champion and the national road race champion twice. He's been the Latvian cyclist of the year four times. Toms has completed the Tour de France four times. He has raced in most of the biggest races in the world. Last...
MtoM #47 - Millionaire Military Officer
January 03, 2022 07:30 - 15 minutes - 22.2 MBFrom this millionaire military officer we learn the importance of being consistent and having a plan. Follow the plan. As long as it is reasonable, you will be successful. It can be simple. No need to make it complex. Save adequately and invest reasonably and you too can be a millionaire. Find 150 reasonable portfolios here https://www.whitecoatinvestor.com/150-portfolios-better-than-yours/ https://StudentLoanAdvice.com is a White Coat Investor company created to help doctors, dentists, ...
WCI #243: Annuities, Securities, and The Three Fund Portfolio
December 30, 2021 07:30 - 1 hour - 86.9 MBThis episode we discuss annuities, securities, and the three-fund portfolio. But we are also reaching the end of the year, which means it's time to take an assessment of how you did this year. Check out the End of Year Financial Checklist for 2021 https://www.whitecoatinvestor.com/end-of-year-financial-checklist/. This checklist will help you make sure you did everything you need to do at the end of the year. It's got everything on there from completing your 2021 Backdoor Roth IRA, plus a M...
MtoM #46 - Dual Physician Millionaires
December 27, 2021 07:30 - 18 minutes - 25.7 MBWe can learn several lessons from this dual doctor couple. The first two years they had no savings as they had no financial education. Having a child motivated them to be more intentional about getting their financial lives in place. Fortunately they had physician incomes so even if you are not perfect in the first few years you still have that income to become financially successful quickly. High income makes it easier. Do what you can to get your income up. See our article about ways to ma...
WCI #242: Avoiding Debt and Giving Back With Michelle Singletary
December 23, 2021 07:30 - 1 hour - 87.7 MBOur guest in this episode, Michelle Singletary, is a personal finance columnist for the Washington Post. Her award-winning column “The Color of Money” appears twice a week in dozens of newspapers across the country and is syndicated by the Washington Post news service and syndicate. She's a frequent contributor to NPR and CNN and has been on the Today Show and the Early Show. We discuss debt, inflation, how Covid affected women. giving back, and more in this interview. Michelle is our keynot...
MtoM #45 - Pediatrician Pays off $185K in 3.5 years
December 20, 2021 07:30 - 15 minutes - 21.7 MBRenting a less comfortable home than they would have preferred, this couple focused on crushing their student loans. Not being big spenders helped accomplish this goal. Their net worth may have been higher now if they had invested versus paying off loans but everyone's crystal ball is cloudy. They don’t regret the financial freedom and safety being debt free gives them. The most common question we get is should you pay off debt or use your money to invest? This post will help you make that d...
WCI #241: Retirement Account Q&A
December 16, 2021 07:30 - 49 minutes - 69.5 MBThis episode is all about retirement accounts. We are answering your questions regarding TSPs, what to do with old retirement accounts, how to set up retirement accounts, Roth conversions, Backdoor Roth IRAs and so much more. We have a number of great resources on the WCI blog regarding retirement accounts and financial advisors that can help you make a financial plan. Check out the recommended tab on the blog https://www.whitecoatinvestor.com for recommended financial advisors and retirem...
MtoM #44 - Back to Broke Oncologist
December 13, 2021 07:30 - 16 minutes - 22.5 MBWe are celebrating this oncologist who got back to broke 6 months out of training. He went from a net worth of $-128K to $+210K net worth in 1.5 years. Getting back to broke as a physician is a big deal! He discusses his “lifestyle inoculation” that helps them purposely spend their money to bring them happiness. Being so intentional in their spending has allowed them to build wealth quickly. You can be intentional too with your spending. See how to avoid the trap of lifestyle creep here. ht...
WCI #240: Asset Allocation Q&A
December 09, 2021 07:30 - 47 minutes - 66.6 MBToday we answer your questions about asset allocation. We start off with some basic principles that everyone should understand and then dive into more specific questions. We discuss what glide path allocation is and how your asset allocation needs change as you age. We talk about asset allocation when using a defined benefit plan and also cover some pros and cons of treating your mortgage as a negative bond and how that affects your asset allocation. See our asset allocation rules here https...
MtoM #43 - Doc Dumps Whole Life Policy And Becomes Millionaire
December 06, 2021 07:30 - 19 minutes - 27.2 MBThis doctor followed advice of WCI to navigate complexities of a 1035 exchange, and recovered from many poor insurance products he was sold. Only 2 years after becoming financially literate he reached millionaire status, proof you can recover from financial mistakes and achieve success fairly quickly. Check out the 10 biggest Financial Mistakes Physicians Make & How to Avoid Them https://www.whitecoatinvestor.com/stupid-doctor-tricks-biggest-financial-mistakes/ This podcast is sponsored ...
WCI #239: Contract Negotiation and Student Loans
December 02, 2021 07:30 - 47 minutes - 66.1 MBToday we are answering questions about contract negotiation. It is important to know what parts of a contract you can negotiate and when you likely won't have any control over your contract. It is critical to understand the details of your contract and we highly recommend having your contract reviewed by a professional. https://www.whitecoatinvestor.com/contract-negotiation-and-review/. You want to be crystal clear on your compensation, who pays for the tail, time off, sick time, maternity ...
MtoM #42 - Back to Broke as a Resident
November 29, 2021 07:30 - 13 minutes - 18.3 MBThis second year anesthesiologist resident and nurse partner are already back to broke. With a salary of $90K they have been investing and paying off debt. What are their secrets to success? Being born into geographic arbitrage has definitely helped. Continuing to take advantage of that by doing med school and residency in a low cost of living area and keeping the loans down to $125K helps also. As well as making sure they are spending money in alignment with their goals. Live like a residen...
WCI #238: 2021 Financial Book Reviews
November 25, 2021 07:30 - 48 minutes - 67.5 MBEvery year we are sent a big stack of books that people want us to read and review on the blog or the podcast. This week at WCI is Continuing Financial Education week and we want to recommend a handful of books that we think would be useful to our readers and listeners. I have talked a lot about the importance of continuing education and I recommend reading at least one book a year to further your financial knowledge. Hopefully one of these books will prove to be a great resource for you. If...
MtoM #41 - Pediatrician pays off $300K in 3 years
November 22, 2021 07:30 - 13 minutes - 18.6 MBIn 3 years this pediatrician paid off $300K in loans with a 200K income. Motivated to get their schooling paid off so they could start saving for their children’s college education. They paused their retirement savings to really focus on getting rid of this debt as fast as possible. There are 10 reasons you should pay off your student loans quickly. https://www.whitecoatinvestor.com/10-reasons-to-pay-off-your-student-loans-quickly/ Today's episode is sponsored by Set For Life Insurance f...
WCI #237: How to Reduce your Investment Taxes
November 18, 2021 07:30 - 47 minutes - 66.3 MBThis episode we are answering questions about investment taxes. There are several things that you can do to reduce your investment taxes including the use of retirement accounts and buying and holding tax efficient investments. We cover six ways to help with reducing those taxes. We talk about when (or if) you should rebalance your portfolio and what to do if you have to recharacterize from a Roth IRA to a traditional. We discuss if it is ever a good idea to do tax gain harvesting and go ov...
MtoM #40 - Dual Family Doctor Couple pays off $400K+ in 3 years
November 15, 2021 07:30 - 15 minutes - 21.6 MBFollowing the outline for financial priorities in the WCI book, this couple was able to invest while paying off the debt for Brad’s medical school. Racquel used the National Health Service Corps to pay for school and owed them a couple years of service after. This episode we discuss the pros and cons of paying for medical school this way. Be inspired by this couple’s success and then go learn more about financial “waterfalls” at https://www.whitecoatinvestor.com/financial-waterfalls-for-new...
WCI #236: Interview with Jaspreet Singh of the Minority Mindset
November 11, 2021 07:30 - 52 minutes - 73.3 MBJaspreet Singh is the creator of The Minority Mindset. We were introduced to him recently at a conference called FinCon that was for producers of financial content and resources. He was one of the keynote speakers at the event and has put together some awesome resources. He is an animated guy and his main mediums are YouTube and Instagram. He is a first generation American with an entrepreneurial spirit that is inspiring. You will find his story about giving up his family's dream of becoming...
MtoM #39 - Buying a Car with Cash
November 08, 2021 07:30 - 11 minutes - 16.2 MBOur guest is a general dentist three years out of training. He has hit a couple of milestones, back to broke and a six figure net worth. But he came on the podcast today to celebrate buying a car with cash. He purchased a 2017 minivan with 20K miles and felt rich doing it! How much car can you afford? Check out this episode for the answer. https://www.whitecoatinvestor.com/how-much-car-can-you-afford/ This podcast is sponsored by Bob Bhayani at https://drdisabilityquotes.com He is an ind...
WCI #235: Pay Off Debt or Invest?
November 04, 2021 06:30 - 45 minutes - 63.9 MBToday we are talking about whether it is better to pay off debt or invest. Like most financial questions the answer is, it depends. Read more at https://www.whitecoatinvestor.com/pay-off-debt-or-invest/. We discuss what to do if you have a chunk of money sitting in savings account and what to do with the money you are saving to purchase a home. We also update you on some important changes to PSLF. The requirements are being relaxed to include more people and more types of loans through Octob...
MtoM #38 - Dentist Achieves $0 Net Worth
November 01, 2021 06:30 - 11 minutes - 16.4 MBThis dentist just recently got back to broke! He finished training with a net worth of negative $510K. 5 years later they have reached a net worth of $40K. Consistently chipping away at your debt and managing your finances pays off. Make a plan early and track your financial goals with these four measurements. https://www.whitecoatinvestor.com/track-your-financial-goals-with-these-four-measurements/ This podcast is sponsored by Bob Bhayani at https://drdisabilityquotes.com He is an indep...
WCI #234: Roth Q&A: 401ks, Conversions, and What if the Backdoor Goes Away?
October 28, 2021 06:30 - 48 minutes - 67.2 MBThis episode we answer all of your questions about Roth accounts. We talk a lot about retirement accounts and answer questions about Roth 401(k)s, the mega backdoor Roth, Roth conversions, backdoor Roth IRAs, 457 plans, and lump sum investing. We also take a few minutes to discuss inflation and what to do in times like these when inflation is on the rise. Learn more at https://www.whitecoatinvestor.com/inflation-basics/ I estimate that 80% of doctors need, want, and should use a financial...
MtoM #37 - The Veterinarian Millionaires
October 25, 2021 06:30 - 10 minutes - 14.7 MBThis dual couple veterinarians, 7.5 years out of training, have a $2-4 million net worth depending on how you value their practice. They attributed their success to targeting debt aggressively and buying a practice. This couple has been able to get their income up but many would not consider veterinarians high income earners. Veterinarians share many of the same financial and life challenges faced by other medical professionals. And financial independence is still possible. https://www.whit...
WCI #233: Insurance Q&A
October 21, 2021 06:30 - 35 minutes - 50.1 MBThis episode we are answering all of your questions about insurance. We discuss group universal life insurance and go over the reasons that it is very likely you don't need or want it. We cover long-term care insurance, specifically as it relates to some new laws in Washington State. We also touch on umbrella insurance, and one of our favorite topics here at WCI - whole life insurance. Finally, we go into health insurance and review high deductible health plans and health savings accounts. ...
MtoM #36 - Psychiatrist Real Estate Investor Multimillionaire
October 18, 2021 06:30 - 17 minutes - 24.4 MBElaine is only one year out of her training as a psychiatrist with a 7.5 million net worth all in real estate investments and cash. She valued financial education from a young age and started investing in real estate at 24. Over the last ten years they have built up this real estate business. Curious about this path to financial freedom? Read Real Estate Investing 101 https://www.whitecoatinvestor.com/real-estate-investing-101/ A lot of physicians have questions about locum tenens, and ht...
WCI #232: Investing Q&A - The Dragon Portfolio, 457(b)s, 403(b)s And Individual Stocks
October 14, 2021 06:30 - 50 minutes - 70.6 MBWe have had a lot of questions about investing coming in lately, so today we have put all of those questions into one big Q&A podcast. We talk about the value of investing in a 457(b) versus a taxable account, we discuss 403(b) accounts, 401(k) accounts and what investing limits are for each of these. We even cover more unusual portfolios such as the Dragon Portfolio. We talk about passive real estate investing vs. active real estate investing. If you have had an investing question lately I ...
MtoM #35 - The Attorney Millionaire
October 11, 2021 06:30 - 11 minutes - 16.8 MBDual attorney couple at 3.3 million net worth 8 years out of school. Their tips to success? Start early, contribute steadily, and avoid lifestyle inflation. Let the stock market do the work for you. Check out 6 reasons to save a lot and to save early. https://www.whitecoatinvestor.com/6-reasons-to-have-a-high-early-savings-rate/ Our sponsor today is DLP Capital Partners, which provides private real estate funds on both the equity and debt side. Their funds provide solid returns and low c...
WCI #231: How Much Homeowners Insurance Do I Need?
October 07, 2021 06:30 - 44 minutes - 61.4 MBWe have had a lot of listeners request information on my homeowners insurance policy. After a large home renovation we had to make some pretty big changes to our policy. It is critical to know what your policy covers but also what it does not. There are a handful of things that are not covered and based on where you live you may want to look into additional coverage. You should also be very sure that the quality of your home is properly insured. If you have premium upgrades in your home you ...
MtoM #34 - PSLF Forgiveness and Millionaires!
October 04, 2021 06:30 - 14 minutes - 20.9 MBOut of school they owed $178K, paid $20-30K off over the next 10 years, and had the rest forgiven. Be diligent, make sure you track each payment. Getting those loans forgiven gave them a significant boost to their net worth, reaching millionaire status! Read about tips and errors to avoid when going for PSLF. https://www.whitecoatinvestor.com/dont-give-up-pslf/ Today's episode was sponsored by Set For Life Insurance. They've helped thousands of physicians and professionals with their term...
WCI #230: Congress Proposes New Tax Bill Impacting High Earners
September 30, 2021 06:30 - 1 hour - 90.7 MBThere are potential big changes coming up as a new tax bill is working its way through Congress. While there are sure to be many changes to the proposed bill before it becomes law we wanted to dive into how this bill will affect the WCI community. One of the biggest impacts is that backdoor Roth IRA and mega backdoor Roth IRA accounts could be gone for good. There are proposed changes to income tax brackets and required minimum deduction rules. We look into these changes and many others that...
MtoM #33 - Millionaire Podiatrist
September 27, 2021 06:30 - 13 minutes - 19.1 MBOur first podiatrist on the Milestones podcast! In 8 years they paid off around a million dollars in debt between his student loans and a business loan. With a salary range from $85K to $500K+ he now has a net worth of a million dollars. We discuss how he has built a business that now provides them that high salary. Everyone can be a millionaire. https://www.whitecoatinvestor.com/everyone-a-millionaire/ A lot of physicians have questions about locum tenens, and https://locumstory.com is t...
WCI #229: Retirement Accounts Q&A
September 23, 2021 06:30 - 36 minutes - 51.6 MBIn this week's episode we are taking listener questions regarding retirement accounts. We talk about 403(a), 403(b), and 457(b) accounts and what the maximum contributions for those are. We cover defined benefit plans vs a mega backdoor roth and when to pick which or both options. We answer questions about taxable accounts and catch-up contributions as well as differences in employer contributions and solo 401(k) accounts and when you can make contributions for a spouse. If you have question...
MtoM #32 - Pediatric Cardiac Intensivist Gets PSLF
September 20, 2021 06:30 - 12 minutes - 17 MBJennifer did a 4 year residency, 3 year fellowship, 1 additional training year as a pediatric cardiac intensivist, and then no payments required due to the pandemic. This all made PSLF worked out really well for her, getting $246K forgiven. Learn more about PSLF and whether it is right for you. https://www.whitecoatinvestor.com/public-service-loan-forgiveness/ Our sponsor today is DLP Capital Partners, which provides private real estate funds on both the equity and debt side. Their funds...
WCI #228: Charitable Giving: DAFs vs CRTs vs Private Family Foundation
September 16, 2021 06:30 - 45 minutes - 63 MBIn this episode we discuss charitable giving and dive into donor advised funds (DAFs), versus Charitable Remainder Trusts (CRTs) and private family foundations. We break down what each of these are and discuss the merits and drawbacks of each option. Learn more about how the IRS supports your charitable desires. https://www.whitecoatinvestor.com/7-ways-irs-supports-charitable-desires/ We also answer listener questions regarding whether to sell or rent your home, allocate the bond portion of...
MtoM #31 - Millionaire Dentist
September 13, 2021 06:30 - 13 minutes - 18.3 MBAs this dentist demonstrated, owning your own practice pays off. Everything extra comes to you. Save and invest that extra and you’ll be a multimillionaire. If you’ve been thinking about starting your own practice, check out these tips: https://www.whitecoatinvestor.com/medical-practice-startup/ By lowering out-of-pocket medication costs, GoodRx estimates it has helped patients get at least 78 million prescriptions they otherwise may not have been able to afford. Hand out GoodRx savings c...
WCI #227: Starting a Medical Practice
September 09, 2021 06:30 - 54 minutes - 75.9 MBWhen you own your practice, you're able to give better care, have more control and less burnout over your professional life. In general, you make more money too. So, it is mostly all positive, although it does take some work upfront. Will and Juli Albright have been sharing their knowledge of practice startups on the blog for a couple of years, since they started their practice, Alamo Plastic Surgery. Will is the surgeon and Juli is the chief financial officer. They both join us in this epis...
MtoM #30 - Nurse Practitioner Multimillionaire
September 06, 2021 06:30 - 16 minutes - 24.1 MBIf you have a high savings rate and invest conservatively, it won't take long to accumulate a high net worth. From this nurse practitioner's experience we learn not to put a cap on what you think you can earn. It is easier to double your income than you think. After being inspired by this story, check out these ways to make more money for doctors https://www.whitecoatinvestor.com/15-ways-to-make-more-money-as-a-doctor/ If you’re looking to Boost Returns, Lower Taxes & Build Wealth, join ...
WCI #226: The State of Physician Financial Literacy
September 02, 2021 06:30 - 52 minutes - 72.9 MBHow financially literate are physicians? White Coat Investor just celebrated our 10 year anniversary of providing personal finance and investing information to our colleagues. How have we done? In this episode we talk with the chief experience officer at Laurel Road https://whitecoatinvestor.com/laurelroad about the physician literacy survey we did together. We discuss how our peers rate their financial literacy, when they plan to retire, what they are investing in, how much they are saving,...
MtoM #29 - Teacher and Doctor Become Millionaires in 5 years
August 30, 2021 06:30 - 13 minutes - 20.2 MBElizabeth is 5 years out of training after doing a MD/PhD. Her teacher husband and her left training with a net worth of 650K+ and have since grown that into 2 million. Real Estate has definitely helped with growing their net worth. If you want to learn more about real estate opportunities check out our list of real estate resources. https://www.whitecoatinvestor.com/recommended-real-estate-crowdfunding-companies/ If you’re like most doctors, nobody taught you anything about personal fin...
WCI #225: Q&A - Single Income Docs, Insuring Jewelry, Best Time of Year to Retire, Over Saving in a 529
August 26, 2021 06:30 - 37 minutes - 52.6 MBWe answer questions for every stage of doctor in this episode. For those starting out we talk about scholarships vs contracts to pay for your medical school before we dive into the extended student loan holiday, single incomes doctors with large families, and whether or not you should insure that engagement ring. For those on the other end of the spectrum we talk about over funding your 529s, where to invest that extra money, and what time of year is best to retire. https://www.whitecoatinv...
MtoM #28 - EM Doc Pays off $180K in 3 years
August 23, 2021 06:30 - 14 minutes - 21.5 MBJon wanted to crush that debt so they could move on to other financial goals. Continue living like a resident, you are already used to it. Hardest thing is avoiding temptation. It is simple but not easy. Stay off the hedonic treadmill and you can crush your debt too! https://www.whitecoatinvestor.com/avoiding-the-hedonic-treadmill-2/ If you are finding our podcasts informative and helpful, check out our website! Since 2011 we have been working hard to provide valuable personal finance an...
WCI #224: Q&A- Actively Managed Funds, Savings Rates, Social Index Funds and Home Prices
August 19, 2021 06:30 - 45 minutes - 64 MBWould the White Coat Investor exist if I had only interacted with good financial professionals, and not multiple ones that ripped us off and caused me to educate myself and take control of our finances? Probably not. https://www.whitecoatinvestor.com/about/ So we have that terrible advisor to thank for this podcast which is all about your questions. We discuss the future of home prices in the U.S. We talk about investing in actively managed funds, whether there is a time that is a good idea ...
MtoM #27 - Academic Endocrinologist Millionaire
August 16, 2021 06:30 - 13 minutes - 19.5 MBThis academic endocrinologist follows the WCI advice and reaches millionaire status 3 years and 9 months out of training. How did they do it? They had a written financial plan and automated their finances. You need an investing plan to be successful! https://www.whitecoatinvestor.com/investing/you-need-an-investing-plan/ Did you know that the White Coat Investor not only has a podcast and a blog but several books that will help you on your way to financial independence. These books cover...
WCI #223: Understanding Cash Balance Plans
August 12, 2021 06:30 - 1 hour - 86.2 MBA defined benefit cash balance plan https://www.whitecoatinvestor.com/cash-balance-plans-another-retirement-plan-for-professionals/ is a somewhat unusual and surprisingly physician specific retirement account. It is a type of a defined benefit plan. On one end you have a defined contribution plan like a 401(k) and on the other a defined benefit plan or pension plan. A cash balance pension, a subtype of defined benefit plan lies as kind of a hybrid between the two. It still falls in the cate...
MtoM #26 - Orthodontist Pays off $480K
August 09, 2021 06:30 - 11 minutes - 16.9 MBThis orthodontist thought about the student loan debt every day until it was paid off. Each year it became less stressful as they made progress and started to see that they could really do it. Being a business owner really pays off when you can set a salary and everything above that goes to student loans. There are a lot of benefits to owning your business. https://www.whitecoatinvestor.com/10-reasons-you-should-own-a-business/ Love what you hear on the podcast? Looking for more great Wh...