White Coat Investor Podcast

Latest Episodes:

WCI #401: Risk vs Reward - How to Find the Balance Jan 09, 2025

Show notes

Today we are talking about finding balance in our lives. We discuss how to know what our risk tolerance is both in the finance space but also in our lifestyle. It is important to do the things we love that bring us joy, even if there is some risk involved. But at what point do we cross into reckless? We talk about how to know when we are working too hard and are too focused on saving for retirement that we forget to live our lives right now. We also chat with our friend Dr. Jordan Grumet, who will be a keynote speaker this year at WCICON. He is passionate about helping people find meaning in their lives to maximize happiness.

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 mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Main Website: https://www.whitecoatinvestor.com YouTube: https://www.whitecoatinvestor.com/youtube Student Loan Advice: https://studentloanadvice.com Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

MtoM #204: Two Doc Couple Beats the Seven Year Itch and Becomes Multi Millionaires and Finance 101: Your Finances at the Beginning of the Year Jan 06, 2025

Show notes

This two doc couple is celebrating 8 years of marriage. He talks about how having such a fantastic partner is the most important part of his life and has made all of this hard work worth it. He talked about the importance of being financially educated so you can learn from others and avoid the mistakes they have made. He said he is grateful his mistakes were early and fairly small. This couple has always valued saving and building wealth and have generally saved her entire income. They even paid cash for their home in their mid 30s. These two are an incredible couple that show us just what is possible when you are both on the same page in your relationship and your finances. After the interview we will talk about your finances at the beginning of the year.

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. There is even a book geared directly toward medical and dental students so you can start optimizing your finances early in your professional journey. Find the book that is right for you at the WCI store at https://www.shop.whitecoatinvestor.com or on Amazon. You can do this and The White Coat Investor can help.

Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones

Main Website: https://www.whitecoatinvestor.com Student Loan Advice: https://studentloanadvice.com YouTube: https://www.whitecoatinvestor.com/youtube Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

WCI #400: Contribution Limits, Estate Planning, and Emergency Funds Jan 02, 2025

Show notes

Today we answer a few questions about estate planning and then explain what a Grantor Retained Annuity Trust is. We talk about contribution limits when you have multiple 401(k)s. We give some advice to a listener who is being gifted a property that is not going to get a step up in basis and what he should do to prepare for the potential tax bomb. We end with helping a new attending know how long it should take to save up a 4 - 6 month emergency fund.

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 Investor. You can do this and The White Coat Investor can help.

MtoM #203: Intern Saves Up an Emergency Fund and Finance 101: Year End Calculations Dec 30, 2024

Show notes

Today we are chatting with an intern who has saved up an emergency fund. He is only 4 months into residency and he has built up enough to cover two months of expenses. We love these smaller milestones that show starting small and getting on the right track now will set you up for success when you become an attending. This doc is going to hit the ground running and we are certain he will grow his wealth quickly. After the interview we are going to talk about year end calculations for Finance 101.

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Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones

WCI #399: 529s, UTMAs, and HSAs Dec 26, 2024

Show notes

Today Dr. Dahle is answering your questions off the speakpipe. We talk about dynasty 529s, UTMAs and the tax benefits of contributing to them, we explain tax gain harvesting and I Bonds within a 529. We answer a question about HSAs and discuss how to go about changing you defined benefit plan administrator if you are not happy with them.

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 can do this and The White Coat Investor can help.

MtoM #202: Radiologist Gets PSLF and Finance 101: Charitable Giving Dec 23, 2024

Show notes

Today we are chatting with a radiologist who has received PSLF. She learned about PSLF back in 2009. She knew she wanted to go into academics so she planned from the beginning to go for PSLF. She knew the ins and outs of the program and maximized keeping her payments low and benefitted from the COVID student loan freeze. She dutifully saved up a PSLF side fun incase something happened and her loans were not forgiven. Luckily that did not happen and she now has a big chunk of money in there. As a highly debt averse person she is now considering turning that fund into a 'saving-for-a-home fund' in hopes to be able to pay cash for their first home. After the interview stick around for a discussion about charitable giving for Finance 101.

As a white coat, you have valuable knowledge. Various companies want that knowledge. And they're willing to pay you for it! That's why we've put together a list of recommendations for companies that pay you to take surveys. If you're looking for a profitable side gig for not too much effort, getting paid for surveys could be the perfect solution for you. You can make extra money, start a solo 401(k), and use your medical knowledge to impact new products. One of the WCI columnists makes an extra $30,000 a year just doing these surveys. Sign up today and use a fraction of your downtime to make extra cash! Go to https://whitecoatinvestor.com/MDSurveys

Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones

WCI #398: Doctors on Disability and Why You Need Disability Insurance Dec 19, 2024

Show notes

Today we are talking all about disability insurance. After Dr. Dahle's recent accident on the Tetons he is ever more passionate about the necessity for all docs to get disability insurance. We are bringing on two different docs who tell their stories of finding themselves in situations that required using their disability insurance. We then chat with friend of WCI and founder of Doc Insure, Matt Wiggins. He is an expert on DI and really helps to answer questions and a paint a picture of why doctors and other high income professionals need to get this insurance in place.

MtoM #201: Financial Planner Becomes a Millionaire and Finance 101: Overfunded 529 Accounts Dec 16, 2024

Show notes

Today we are talking to a financial planner who has become a millionaire. This planner initially planned on going to dental school but changed his mind after getting accepted into a few schools and decided to pursue a career in finance. He shares some of his failures and some of his successes that we think will inspire you to grow your wealth. After the interview we will be talking about overfunded 529s for Finance 101.

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 best interest at heart. If you have questions about insurance and what kind of policies would be the best fit for you, check out our insurance recommended list at https://www.whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. You can do this and The White Coat Investor can help.

Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones

WCI #397: Roth, Mega Backdoor Roth, Solo 401(k)s and IRAs Dec 12, 2024

Show notes

Today we are answering your retirement account questions. We answer questions about the mega backdoor Roth, Roth conversions, solo 401(k)s, individual IRAs and what to do with an inherited IRA.

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 to help you on your financial journey. Go to https://www.whitecoatinvestor.com/financialbootcamp to sign up today! You can do this and The White Coat Investor can help.

MtoM #200: Military Family Physician Takes the Fast Lane to Wealth and Finance 101: The Millionaire Fastlane Dec 09, 2024

Show notes

This military family medicine doc has become a millionaire. He is doing all the right things to invest and build wealth, but his real focus is on real estate. He has a real entrepreneurial mindset and is a natural hustler. He is creating businesses, buying properties, investing in real estate deals and doing whatever it takes to build wealth quickly. He said his biggest hobby is his businesses but his biggest priority is his family and he will always value time with them above anything else. After the interview we will be talking about M.J. DeMarco's book, The Millionaire Fastlane for Finance 101.

Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones

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