White Coat Investor Podcast

A few years out of residency this couple decided to get serious about their finances. Once they started to look at their finances and the fees they were paying their financial advisor they knew it was time to get a written financial plan in place. They took WCI's Fire Your Financial Advisor course and created a plan that worked for them. They fired their financial advisor and are on their way to financial independence! Do you need to get a written financial plan in place? Check out our course at https://www.wcicourses.com/p/fire-your-financial-advisor  If you are finding our podcasts informative and helpful we would encourage you to sign up for our monthly newsletter! It is totally free and includes useful, actionable information NOT AVAILABLE on the regular blog posts. It's almost like being in a secret club - the kind of club that can boost your knowledge and enhance your wealth at the same time - with no strings attached. Visit https://www.whitecoatinvestor.com/newsletter to sign up today. You can do this

Today our guest on the podcast is our friend, James Lange. He is here to talk about his personal experience of having a daughter diagnosed with a disability and then going through the process of making sure she will have the finances in place she needs to succeed even after he and his wife are gone. He shares everything he has learned through the process and we hope this episode will be incredibly helpful for those of you in a similar situation. 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 topics such as asset protection and minimizing your taxes to keep more of your hard earned money. They discuss plans for insurance, housing, spending, student loan elimination, investing and estate planning. You can learn how to become a millionaire within 5-10 years of leaving residency and how to invest in a sensible low cost and effective manner with or without the assistance of a financial advisor

This doc is a 28 year Air Force general surgeon who retired in the fall of 2020. He tells us about his journey in the military as well as talks about his decision to retire. He wants to be sure that people know that career military docs can have a great retirement and says the pension that comes from the military is amazing. Their biggest challenge is actually ramping up their spending. Not long after retiring this doc and his wife hiked the entire Appalachian Trail together. A total of 2200 miles over 7 months. His career and his adventuring were inspiring to us! Still not sure what to do with your student loans? Overwhelmed with how to tackle that giant debt in an ever changing political climate? The experts at StudentLoanAdvice.com are here to help guide you through the best options to manage your loans – our experienced staff have consulted on over $250M in student loan debt, and the average studentloanadvice.com client has saved over $190,000 dollars. You will receive a customized student loan plan using

We have continued to get a lot of your questions about all things Roth so we are dedicating another episode to your Roth questions. We answer questions about SEP IRA conversions, Roth IRA contributions, Roth contributions in a 401(k) vs. a backdoor Roth, Mega Backdoor Roth questions, how taxes affect Roth conversions and more! 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 and investing information through thousands of blog posts written by an array of authors. You can find information on how to manage your student loans, fix and avoid common financial mistakes, understand your retirement accounts, optimize your investments, find professional help at a fair price, get started investing in real estate, and so much more, all at no cost to you. You can find out more about the courses we offer, the conferences we put on, the newsletters we provide, and interact with other WCI readers through our online forum

Our interviewees today are telling us about opening their first franchise. After listening to WCI podcast episode 267 about non-food franchising they decided to give it a try! This couple did tons of due diligence and spent a great deal of timing getting educated about how this business would run and they are finally off to the races. We think you will find their story super inspiring. This debt averse couple waited to do this until they had enough cash to pay for the whole project up front. Their advice to you is to be at a place in your financial life that if it doesn't work out it won't ruin you financially. That way this process can be fun instead of scary. Want to listen to the episode that inspired them? Check it out here: https://www.whitecoatinvestor.com/non-food-franchising-267/  Do you ever find yourself wishing there was somewhere to go to ask your finance, insurance or investing questions? The White Coat Investor community is a great place to turn. We have a thriving community across all of our so

Today we answer your questions about 529's. We try to help clarify the changes coming with Secure Act 2.0. We talk about if it would make sense for 529s to be under a grandparents name to avoid your child not qualifying for FAFSA. We discuss if it is smart to save in a 529 if you aren't sure if your child will attend college in the US. Dr. Dahle answers questions about his families' plan for inheritance for their kids and discusses which funds to choose for your kids Roth IRAs. We even touch on the topic of how much is reasonable to spend on an engagement ring. Do you ever find yourself wishing there was somewhere to go to ask your finance, insurance or investing questions? The White Coat Investor community is a great place to turn. We have a thriving community across all of our social channels - facebook, twitter, instagram, reddit and our WCI forum. We have been discussing solutions to your money problems since 2011. Join the conversation with thousands of other White Coat Investors. Follow WCI on your favo

This cardiologist became a millionaire just 6 years out of training. This physician couple worked hard to pay their debt off and start saving. They have learned that while they want to be set up for a comfortable retirement, they also are not trying to FIRE. They want to save responsibly while still spending money now and making the most of life right now with their kids. His advice to you is to be persistent and consistent and to be patient. If you stick to your plan you will be successful!  Dr. Dahle also gives an intro to HSA accounts, what it means to have triple tax protection, and why he thinks HSAs are incredibly awesome. Want to learn more about HSA accounts? Check out this post: https://www.whitecoatinvestor.com/health-savings-account/  Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Be

Dr. Cory Fawcett joins us today to make the case for timeshares. He takes the much less voiced opinion that timeshares are awesome. He shares who he thinks are the right candidates for timeshares and who are not. He also talks about how to make the most of them. As a timeshare owner for over 30 years he believes for the right people they can be a fantastic way to travel. We hope you enjoy the friendly debate between Dr. Fawcett and Dr. Dahle. If you’re like most doctors, nobody taught you anything about personal finance or investing during your undergrad, professional school, or residency. And even though your family - and perhaps even your business - rely on you to be the Chief Financial Officer, you have never been given the tools to succeed. Enroll in WCI Financial Boot Camp, a FREE educational email series, and learn to convert your high income to wealth. You will learn the basics of investing, saving, insurance, and more. Your high income alone will not lead to financial success, but as always, we want t

This sleep medicine doc paid off his mortgage in only 2 years! He learned quickly that he does not like being in debt and first tackled $280,000 of student loans in less than 3 years out of residency. His next goal was to save up for a down payment, then after buying the house paid down the mortgage in an incredibly fast time period. He said he likes having a goal that he can pour his effort and money into. It is also no surprise that he has nearly reached millionaire status. His next big goal is to buy some real estate to help residents in his area have both an affordable place to live, but also to help mentor them as they work towards completing their training. If you’re like most doctors, nobody taught you anything about personal finance or investing during your undergrad, professional school, or residency. And even though your family - and perhaps even your business - rely on you to be the Chief Financial Officer, you have never been given the tools to succeed. Enroll in WCI Financial Boot Camp, a FREE ed

Today we are answering your questions from the speak pipe. We talk about if a medical reimbursement plan is a good option for a private practice, we talk about the proposed ban on non-compete contracts and get into what non competes are, why people use them, and when they are and are not fair. We answer a question about divesting interest in sale of practice. We talk about short term investments and discuss if annuities are a better idea than usual with interest rates as high as they currently are. Finally we talk about what to do when you have a bad financial advisor. If you’re looking to Boost Returns, Lower Taxes & Build Wealth, join the WCI monthly Real Estate Opportunities list for tips and strategies to maximize your real estate returns and for introductions to exclusive investment opportunities. Expect educational emails that introduce you to syndicators, fund companies, online courses, and online real estate platforms. Go to https://www.whitecoatinvestor.com/reopportunities to sign up today. You c

This ER Doc has worked hard since finishing residency and has not only paid off $344,000 in 2 1/2 years,. but he also managed to build wealth and buy a new truck at the same time. This doc says paying off his loans made him feel like he was finally and officially done with med school. How did he do it? Live like a resident and work like a resident. They are now using those big student loan payments to build a nest egg and save for a down payment. Need help figuring out what to do with your student loans? Check out https://studentloanadvice.com  Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted agents who are experienced with working with the specific needs of medical professionals and who have your

Our guest on the podcast today is Dr. Brittne Halford of More Joy, More Wealth. She and Dr. Dahle discuss how your upbringing affects your view on money. They discuss generational wealth and the difference between being rich and having wealth. They talk about how to teach your kids about money and how to help them learn to work hard and create the life they want even if they have some generational wealth coming their way. Do you ever find yourself wishing there was somewhere to go to ask your finance, insurance or investing questions? The White Coat Investor community is a great place to turn. We have a thriving community across all of our social channels - facebook, twitter, instagram, reddit and our WCI forum. We have been discussing solutions to your money problems since 2011. Join the conversation with thousands of other White Coat Investors. Follow WCI on your favorite social media platform for financial resources, tips and strategies. Just head to your platform of choice and search for The White Coat In

This doc paid off his student loans in only 30 months. He said the freedom of being out of debt is allowing him and his family create a better work life balance. His biggest piece of advice is to have a plan and stick to it. By sticking to his plan and working hard he was able to pay this debt off much faster than he had planned. Need help making a plan to pay off your student loans? Check out https://www.studentloanadvice.com  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 and investing information through thousands of blog posts written by an array of authors. You can find information on how to manage your student loans, fix and avoid common financial mistakes, understand your retirement accounts, optimize your investments, find professional help at a fair price, get started investing in real estate, and so much more, all at no cost to you. You can find out more about the courses we offer, the conferen

Today we are answering your questions off the speak pipe. Many of those questions are in regards to asset location. We talk about weighing tax efficiency against higher returns in your accounts and Dr. Dahle reminds you not to let the tax tail wag the investment dog. We answer questions about high yielding ETFs, QLACs, 457s, non qualified deferred compensation plans, and bonds with high fees. Still not sure what to do with your student loans? Overwhelmed with how to tackle that giant debt in an ever changing political climate? The experts at StudentLoanAdvice.com are here to help guide you through the best options to manage your loans – our experienced staff have consulted on over $250M in student loan debt, and the average studentloanadvice.com client has saved over $190,000 dollars. You will receive a customized student loan plan using the principles of The White Coat Investor, get answers to all of your student loan questions, gain clarity about your financial future and start down the right path toward fi

This dual physician couple who are fresh out of training are back to broke! They have worked hard to budget, make a financial plan and grow their net worth. They talk about the importance of having a written financial plan as well as becoming finacially literate as soon as possible. There is no need to wait until you are out of training to get educated. They show us that even in a high cost of living area you can make big progress on your financial goals. Need help getting a written financial plan? Take our Fire Your Financial Advisor Course and write your plan today! https://www.wcicourses.com/p/fire-your-financial-advisor  Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted agents who are experience

Our guest on the podcast today is Dr. Shikha Jain. She has devoted her life not only to medicine but to helping women in medicine. She shares her knowledge around if the gender wage gap is real, why it exists and what we can do about it. If you are finding our podcasts informative and helpful we would encourage you to sign up for our monthly newsletter! It is totally free and includes useful, actionable information NOT AVAILABLE on the regular blog posts. It's almost like being in a secret club - the kind of club that can boost your knowledge and enhance your wealth at the same time - with no strings attached. Visit https://www.whitecoatinvestor.com/newsletter to sign up today. You can do this and The White Coat Investor can help. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan

This neurologist paid off over $400,000 in just 3 1/2 years. He also bought a new car with cash. He said living like a resident and having a plan is how he paid off his debt so quickly. This doc has developed great habits that will help him reach financial independence early. We think you will find his optimism and discipline as inspiring as we did. Love what you hear on the podcast? Looking for more great White Coat Investor content? Head over to our YouTube channel where you can watch video recordings of our podcast, short snippets of financial tips explained succinctly by me and others, and deep dives into topics for more in depth learning. You can even learn all about real estate with webinars from our real estate partners. Check out all this and more at https://www.youtube.com/thewhitecoatinvestor. You can do this and The White Coat Investor can help. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor m

It's that time of year where we have lots of questions about taxes. Today we talk about how to file an amendment to your 2022 tax return. The good news is it's not hard and it is not a big deal. We also talk about what to do if your tax professional makes a mistake on your taxes. Next we get into some questions regarding tax loss harvesting and what the averaging method is. We discuss if there is ever a good reason to use a robo-advisor to help with tax loss harvesting. Finally we answer a question about the pro rata rule as well as a few student loan questions. The White Coat Investor is proud to introduce our No Hype Real Estate Investing course, which will provide the framework for developing further knowledge and experience as you progress in your real estate investing career. We call it an introductory course because there is always more to learn. But this is no short, superficial course. There are over 200 lectures and videos adding up to more than 27 hours of content by over 15 different instructors. W

This doc is our second returning guest. Since she paid off her student loans in August of 2021 her and her husband were able to take a financial risk, leave their jobs in academia, and start a private direct primary care practice. They got their financial ducks in a row and recognized they wanted to change the way they worked. This change reduced burnout and created the life/work balance they want. She said making less money is worth the balance they have created. Are you battling burnout? Check out this post for some tips to reduce burnout: https://www.whitecoatinvestor.com/physician-burnout-factors-cures/  At some point in our financial lives, it will be time to buy a home. A physician mortgage can be a good vehicle for a young doctor who’s just out of school and has a more effective place to use their money than on a big down payment. These loans allow doctors to secure a mortgage with fewer restrictions and a lower down payment than a conventional mortgage. But if you’re further advanced in your career o

Today we talk to a doc who got a late start on his financial journey. He shares his experience of over inflating his life style for nearly 20 years after residency before having his financial awakening. He finally realized that if he ever wanted to retire he and his family would have to make some big changes. He talks about the struggle of deflating his lifestyle but the overall peace and happiness that has come from getting his financial ducks in a row. He shares his story in hopes to help inspire other late starters out there that it is not too late to change your habits and reach financial independence. No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written