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White Coat Investor Podcast

Host, 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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Sep 19, 2019

Michael Kitces is the brains behind Nerd's Eye View, https://www.kitces.com/ which I believe is the most widely read website aimed at educating financial advisors in the world. He blogs for advisors who are serious about their craft, the ones who actually view this profession as a calling and want to get better at it. He wants to teach them how to be a more successful advisors and how to serve their clients better with more expertise. He believes that most harm inflicted on clients by their advisors doesn't occur because of malice or greed but out of ignorance and he wants to help provide a higher standard for competency. We discuss financial advisors acting as fiduciaries and what training we should expect our advisors to receive and what services they can provide. We talk about assets under management fees and whether we will see the end to them in our lifetime or not. We discuss conflicts of interest and advisors trying to specialize in different types of clientele. But he really wanted you to take away from this discussion that you have to get pretty far down the line of investing portfolios before the growth rate of your portfolio is larger than the impact by just spending less than you make and figuring out how to grow your income. It always comes back to the basics. See the show notes at https://www.whitecoatinvestor.com/financial-advisors-the-good-the-bad-and-the-ugly-with-michael-kitces-podcast-124

Sponsor
This episode is sponsored by Set for Life Insurance. https://www.setforlifeinsurance.com/ Set for Life Insurance was founded by President, Jamie K. Fleischner, CLU, ChFC, LUTCF in 1993 which she started while attending Washington University in St. Louis. They specialize in individual term life, disability and long term care insurance. They work on the client’s behalf to shop around to find the most suitable products at the most cost-effective rate. Set for Life is first and foremost a client-centric company. They listen carefully to the needs of clients. Because of the volume and exceptional reputation of Set for Life Insurance, as well as the relationships they have developed over the years, Set for Life clients have access to special services not available elsewhere in the industry. This includes special discounts, gender-neutral policies (saving women significantly), priority underwriting handling and, on some occasions, exceptions in the underwriting process. Contact Jamie at Set for Life Insurance today.

Sep 17, 2019

Host, 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/

Sep 12, 2019

"Aren't all the Democratic candidates going to cancel student loan debt? I'll just wait, because if I pay them back and then they cancel them, I'm out of luck." Now for some of you this might sound crazy but this is the thought process for many people right now. Should people be changing their student loan plan based on the discussion of canceling and forgiving loans that politicians are currently having? We discuss this question in today's episode. But bear in mind presidential candidates make a lot of promises that they don't keep. We have a long history of that. Plus a lot would need to happen for this to take place like Bernie Sanders or Elizabeth Warren being elected and then getting a plan to cancel student loan debt through Congress. But even more than all that historically legislature like this does not favor the top 1% of income earners in our country. As a physician the chance that any kind of forgiveness or cancelation of student loans will really make a difference in the amount of money you owe is very low. We also discuss in this episode gender neutral disability insurance policies, VTI or VTSAX in a taxable account, what to do with a traditional IRA, disclaimers for physicians giving personal finance lectures, when to cancel your disability policy, dealing with multiple 401(k)s, and the most tax efficient investment to put in a taxable account. See show notes at https://www.whitecoatinvestor.com/will-the-politicians-cancel-your-student-loan-debt-podcast-123/

Sponsor
Our podcast today is sponsored by one of my favorite partner companies, Earnest. Save money on your student loans by refinancing with Earnest. Go to www.whitecoatinvestor.com/refi to get $500 cash back when you refinance with Earnest. The cool thing about Earnest is that you can choose custom terms to fit your budget. You can pick your exact monthly payment. You can select fixed or variable rates. You can even choose your custom term. The shorter the term, the lower the interest rate. They are not going to pass you off to a third party servicer, nor penalize you for making any of your payments early. Your family is always protected with loan forgiveness in the event of your death. You can refinance anything from $5,000 to $500,000, a much wider range than most of these companies offer.

Sep 5, 2019

If you forgot to live like a resident for your first few years as an attending physician, it isn't too late. In this podcast episode I interview Dr. Disha Spath, of the https://www.thefrugalphysician.com/ who did just that. They were stressed about money and making limit progress towards being debt free, so her and her husband made some drastic changes in their life. The result? They paid off $208,000 in student loans in 17 months. How did they do it? Focusing on the big expenses; housing, cars, and food. They tried to be intentional in their spending, ensuring that they were spending on things that brought them joy. Doctors are in the top 1- 5% when it comes to income in this country. If anyone can afford to not be frugal, it should be a doctor. But we also know that you can always out spend your income no matter how large. Listen to this episode to hear a discussion on spending tips for things that people spend a lot of money on and how you can maybe spend a little bit less. Choosing to be generally frugal and selectively extravagant will help you build wealth and live the life you want.

This episode is sponsored by https://www.setforlifeinsurance.com/ . Set for Life Insurance was founded by President, Jamie K. Fleischner, CLU, ChFC, LUTCF in 1993 which she started while attending Washington University in St. Louis. They specialize in individual term life, disability and long term care insurance. They work on the client’s behalf to shop around to find the most suitable products at the most cost-effective rate. Set for Life is first and foremost a client-centric company. They listen carefully to the needs of clients. Because of the volume and exceptional reputation of Set for Life Insurance, as well as the relationships they have developed over the years, Set for Life clients have access to special services not available elsewhere in the industry. This includes special discounts, gender-neutral policies (saving women significantly), priority underwriting handling and, on some occasions, exceptions in the underwriting process. Contact Jamie at https://www.setforlifeinsurance.com/ today.

Aug 29, 2019

Dealing with self employment taxes can be a little tricky. In this episode I discuss quarterly payments or a way to avoid making them if you have W2 income as well to avoid penalties by being in the safe harbor. Bear in mind, what you pay in advance or what is withheld, may have little to no relationship to how much tax you actually owe. So I discuss what we do in our monthly financial plan to ensure that we have adequate money to pay our tax bill come April 15th. Spoiler - investing your money set aside for taxes is a bad idea. You really don't want to owe money to the IRS. They have a lot of rights that most lenders do not have, like being able to garnish your paychecks, take money out of your bank account, and send you to jail. We also discuss your term life insurance needs and how to invest that insurance money in the unfortunate situation that you become the beneficiary of a term life insurance payout. Other questions we answer are about paying off debt vs investing, self directed IRAs, mutual funds vs ETFs and dealing individual stocks. See the show notes at https://www.whitecoatinvestor.com/

Today’s episode is sponsored by CommonBond. http://commonbond.co/wci CommonBond has worked with thousands of doctors to help them refinance their student loans, save money, and get out of debt more quickly. And since your financial needs are unique, CommonBond has flexible plans along with award-winning customer service. CommonBond also offers best-in-class borrower protections, like up to 24 months of forbearance – just in case you run into any financial difficulties and need to press pause on your monthly payments. Best of all, listeners of this podcast will receive a $550 cash bonus when refinancing with CommonBond. Head over to CommonBond http://commonbond.co/wci to see your new rate and claim your $550 bonus.

Aug 22, 2019

Ever thought about doing a medical mission trip? My 15 year old daughter and I went to Honduras this summer to spend a week assisting in a local hospital. This episode I interview her about that trip and what effect the experiences there had on her. I also share an interview I did with an Honduran doctor where we discuss the difference between practicing medicine there versus in the United States. The audio isn't awesome from that interview conducted in the Honduras hospital but you can see the full transcription at https://www.whitecoatinvestor.com/ If medical missionary work interests you, you'll find this episode helpful in knowing what it can be like. I also answer some listener questions about financial advisor fees, including TIPS in your portfolio, VTSAX vs VTI, becoming an S Corp, and using Vanguard target date funds in a taxable account. Remember if you have a question record it at https://www.speakpipe.com/whitecoatinvestor and we will answer it on the podcast.

This podcast is sponsored by Pattern Financial Consultancy. Matt Wiggins is an experienced specialist in disability and life insurance for physicians. I've sat down with Matt, face to face, and talked about doctors and insurance. He knows what he is talking about and can get you a high quality disability insurance policy that you can trust to deliver should the worst happen. Doctors get disabled all the time. Don't think it cannot happen to you. If you don't have a disability insurance policy now, or just need a second opinion on whether or not your current one is still right for you, contact Matt today at Pattern at https://whitecoatinvestor.com/pattern

Be sure to sign up for our newsletter at https://www.whitecoatinvestor.com/free-monthly-newsletter/ It has a lot of great stuff including blog posts that don't show up anywhere else, a collection of the best stuff published on the web in the previous month for docs interested in personal finance, and a market report without any BS predictions about the future. It is free and you can unsubscribe anytime if you don't like it.

Aug 15, 2019

This episode we interview Robert Farrington, the founder of thecollegeinvestor.com, https://thecollegeinvestor.com/ where he provides lots of information for young investors, for indebted people with student loans, and millennials in particular. Robert, Mr. Money Mustache, and myself started our blogs about the same time, though both of theirs are bigger than mine. His message is about getting out of student loan debt and starting to invest. Whether it's millennials or not, his goal is to help people navigate the complex world of student loan debt, so that they can build wealth as early as possible. We discuss the order of operations for paying for college. There are nine basic ways to pay for college. You should max out each of them before moving on to the next step. We discuss each of those steps as well as the repayment plans available. If you are struggling under the weight of student loans this episode will provide you information and encouragement to get rid of those student loans and begin building wealth as soon as possible. To find the best deals for refinancing your student loans go to https://www.whitecoatinvestor.com/student-loan-refinancing/

This episode is sponsored by Set for Life Insurance https://www.setforlifeinsurance.com/ Set for Life Insurance was founded by President, Jamie K. Fleischner, CLU, ChFC, LUTCF in 1993 which she started while attending Washington University in St. Louis. They specialize in individual term life, disability and long term care insurance. They work on the client’s behalf to shop around to find the most suitable products at the most cost-effective rate. Set for Life is first and foremost a client-centric company. They listen carefully to the needs of clients. Because of the volume and exceptional reputation of Set for Life Insurance, as well as the relationships they have developed over the years, Set for Life clients have access to special services not available elsewhere in the industry. This includes special discounts, gender-neutral policies (saving women significantly), priority underwriting handling and on some occasions exceptions in the underwriting process.

Aug 8, 2019

If you invest in the total international stock market index you may be eligible for the foreign tax credit. As long as your foreign tax paid is less than $300 single, or $600 married, it is a rather straightforward process. However, once that threshold is breached, the more complicated form is required come income tax time. The good news is if you're doing your own taxes, you're probably using tax software, and it does this all automatically in the background. But for those with higher foreign tax form 1116 is required. We discuss this in the episode so if this applies to you, make sure you are getting your tax credit. We also talk about physician mortgage loans, sharing financial information with your surviving spouse should you die, and what the going rate for financial advice is. See the show notes at https://www.whitecoatinvestor.com/

This episode is sponsored by Locumstory. Have you ever wondered about a different way of practicing medicine? Whether you are burned out, need to change of pace, or want to see the world, Locum Tenens might be that option for you. Locumstory.com is the place where you can get real unbiased answers to your questions. They answer basic questions like what is locum tenens and complex questions about pay ranges, taxes, various specialties, and how locum tenens works for PAs and NPs. Go to https://www.whitecoatinvestor.com/locumstory and get the answers.

Make sure you sign up for the monthly newsletter at https://www.whitecoatinvestor.com/free-monthly-newsletter/ We update you on all the cool things going on at the White Coat Investor. We give you links to all the best stuff that has come out for doctors and other high-income professionals on finances in the last month. We also have a super secret special blog post. I call it the monthly tip, but it is a blog post that isn't published anywhere else. The only way you can get it is by signing up for the free monthly newsletter.

Aug 1, 2019

Our guest is Collin Hart, managing director of ERE Healthcare Real Estate Advisors. His company is a real estate brokerage that specializes in representing physicians in the process of selling and leasing back their practice real estate. In this episode we talk about when a physician should buy vs rent their practice space, properly structuring a lease, and exit strategies surrounding practice real estate. For those who are interested in owning their practice real estate or particularly interested in selling it, I think this will be a pretty useful podcast episode.

If you are not going for PSLF and have not refinanced your student loans, you really need to do that and save thousands of dollars. Check out the special WCI deals for refinancing. https://www.whitecoatinvestor.com/student-loan-refinancing/

If you are not aware, we have an online course called, Fire Your Financial Advisor. https://whitecoatinvestor.teachable.com/p/fire-your-financial-advisor It's a bit provocatively titled, but the goal of the course is to distill down the most important aspects of financial literacy and help you to write your own financial plan.

This episode was sponsored by Alexis Gallati of Gallati Professional Services http://www.gallatitax.com/. Alexis is not your typical tax advisor. With over 15 years of experience, she has been helping physicians all over the country save money on their taxes. As the spouse of a busy physician, she understands the burden of high tax payments physicians incur during their lifetime. Not only will she create a high level strategic tax plan for you, guaranteeing money in your pocket, but Alexis will proactively work with you throughout the year to maintain your tax plan, prepare your annual tax returns, and represent you in case of an audit. The investment in her tax planning services is a fixed-price agreement and her tax maintenance packages are a flat monthly fee. If you’re tired of complex tax jargon and giving away most of your paycheck to the IRS, visit Alexis’ website at www.GallatiTax.com today to schedule your free initial consultation.

Jul 25, 2019

I received a couple of questions about cars in the Facebook group https://www.whitecoatinvestor.com/facebookgroup and thought it would be interesting to compare and contrast them. The first one was from a soon to be resident who wanted to know if he should ship his car across the country because he wasn't sure it would survive the cross country drive. It is worth $2000 but needs some repairs to survive residency. There comes a time when you have to admit that a car is "totaled." If it costs more to repair than it is worth, it is totaled. It is time to get rid of it, getting whatever you can out of it. The second question came from someone who is expecting a baby and wants a car with a third row. But he has a lease on a car until February and wanted to know if he should buy the new car anyway and just pay out the lease. Stop leasing cars first off. If you don't have the cash to buy the car, buy a less expensive car. If you don't have the cash to buy a less expensive car, and you have to borrow for it, it ought to be a $5,000 car or less. We get more into the details of these car questions in this episode and hopefully help you make that decision on when to fix the old car or buy a new one. See the show notes for more information at https://www.whitecoatinvestor.com/

This podcast is sponsored by Sofi https://www.whitecoatinvestor.com/Sofi a long time White Coat Investor partner. Hundreds of white coat investors have refinanced with SoFi over the years. If you apply via this link you'll get paid $300. SoFi also lends to medical and dental residents with $100 monthly payments, so it is a great option if you're not getting any sort of a REPAYE subsidy. Sofi has a number of other products as well. They have a personal loan product https://www.whitecoatinvestor.com/sofiloan . They have a mortgage product. It's not technically a doctor mortgage, but you can avoid PMI with less than 20 percent down, with it. There is also SoFi Money https://www.whitecoatinvestor.com/sofimoney, which is basically a high yield checking account that I've been happy with. Check out these SoFi products today, especially for student loan refinancing, which is what most of white coat investors listeners and readers have used them for. Knocking a couple of percentage points off your interest rate can save you thousands and help you get out of debt months sooner.

Jul 18, 2019

Unlike our typical shows where we answer questions people have pre-recorded, this episode will be a bit of a back and forth with a listener who had a lot of questions. She is missing one key element that could answer many of the questions she asks in this episode. It is a written investing plan. 95% of people out there are in the same boat. They come to me with a question of, "Should I buy this fund or this fund?" I'm like, "For what? What's the plan? What's the goal?" Without the plan it is hard to get your finances organized and on track for your goals. We talk about how you can create a written investing plan in this episode. We discuss how to set reasonable goals and what should be your next level in personal finance. Whether you are just starting out in your journey to understanding your finances or you have listened to all 114 podcast episodes before this, I think you will find something valuable you can apply to your financial life in this episode. See the show notes at https://www.whitecoatinvestor.com/

This episode is sponsored by Alexis Gallati of Gallati Professional Services – Alexis is not your typical tax advisor. With over 15 years of experience, she has been helping physicians all over the country save money on their taxes. As the spouse of a busy physician, she understands the burden of high tax payments physicians incur during their lifetime. Not only will she create a high level strategic tax plan for you, guaranteeing money in your pocket, but Alexis will proactively work with you throughout the year to maintain your tax plan, prepare your annual tax returns, and represent you in case of an audit. The investment in her tax planning services is a fixed-price agreement and her tax maintenance packages are a flat monthly fee. If you’re tired of complex tax jargon and giving away most of your paycheck to the IRS, visit Alexis’ website at https://www.gallatitax.com/ today to schedule your free initial consultation.

The https://www.whitecoatinvestor.com/scholarship/ competition is heating up again. This is an essay contest for medicine, osteopathy, podiatry, dentistry, law, pharmacy, optometry, physician assistant, nurse practitioner, CRNA, veterinarian students. Submit your essays to scholarship@whitecoatinvestor.com

The White Coat Investor Financial Bootcamp is out in audio book now. Check it out at https://www.whitecoatinvestor.com/BootcampAudible

Jul 11, 2019

Should you start a retirement plan for your office? When is it worth starting? What things should you consider? A practice retirement plan can help with recruitment and retention of employees. But if your employees don't value that it may not be worth starting. Running a group practice retirement plan can be expensive for employers. But once you have employees it is no longer a do it yourself project. It is time to get a pro involved and help run the numbers and decide what plan is right for you. There are half a dozen ways you can structure a retirement plan for a practice. Sometimes the best thing to do is not have a plan and just invest in taxable. We discuss when starting a group practice retirement plan might be right thing for you in this episode and answer other listener questions about buying homes, investing vs paying off the mortgage, how to figure out what expense ratio you are actually paying on your investment fund, and more. Remember if you have questions you would like answered on the podcast, record them at https://www.speakpipe.com/whitecoatinvestor. See this episode's show notes at https://www.whitecoatinvestor.com/

This episode is sponsored by Earnest. Save money on your student loans by refinancing with Earnest at https://www.whitecoatinvestor.com/earnest . Choose custom terms to fit your budget – like picking your exact monthly payment or selecting fixed and variable rates. Earnest’s Precision Pricing matches your custom term with a custom interest rate — saving you even more money when refinancing. You won’t be passed off to a third-party servicer nor penalized for making payments early. Your family is always protected with loan forgiveness in cases of death and dismemberment. Get $500 when you sign a loan with Earnest. (They can lend in DC and all states except DE, KY, NV. They can only offer fixed rates in AK, IL, MN, NH, OH, TN, and TX.)

Check out our updated Reddit page at https://www.whitecoatinvestor.com/reddit We received little bit of help recently from a redditor who has made our reddit page a lot more useful. There is the Wiki there now and additional links that are helpful. We have put a lot more color and organization on the page so be sure to check out the reddit page if you haven't check it out in awhile.

We have also updated our recommended financial advisor page at https://www.whitecoatinvestor.com/financial-advisors/ It is a lot more standardized and useful. Every one of the advisors on that page have been vetted by me and I highly recommend any of them to you. I think you'll enjoy the update page, either for yourself if you need a financial advisor, or if you just need some place where you can send your colleagues, friends, and family members and know that they are going to get good advice at a fair price.

Jul 4, 2019

"Always ask yourself, where can your portfolio go wrong? And if you can't come up with lots of different reasons, you probably are too overconfident on it. I want everyone to have an exciting, fun, and thrilling life, I just don't want you to get it from your investments. If you're getting entertainment from your investing you're probably doing something very, very wrong. Your investing should be very, very boring." Allan Roth shares lots of wisdom like this in this episode. Read the show notes at https://www.whitecoatinvestor.com/

If you are in need of financial planning or advice, check out our recommended list of financial advisors at https://www.whitecoatinvestor.com/financial-advisors/ We have revamped the page to make it more user friendly for you. Find one that offers the services you need. They all working with clients nationwide or you can find one close to you. Compare their fees and get good advice at a fair price.

This episode was sponsored by Bob Bhayani at https://drdisabilityquotes.com/. They are a truly independent provider of disability insurance planning solutions to the medical community nationwide. Bob specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. Contact Bob today by email at info@drdisabilityquotes.com or by calling (973) 771-9100.

Jun 27, 2019

A listener asked me how to prioritize loans from their parents. I am not a fan of borrowing money from family. I'd hate to owe money to my parents. Paying that off would be a major priority for me. But if you are still going to do it, remember that when you borrow money from family, you have to pay a reasonable interest rate and it is a good idea to have written terms. We get into more details about borrowing money from family in this episode but don't become debt numb just because you are offered money at a low interest rate. Check out the show notes for this episode at https://www.whitecoatinvestor.com/

This episode is sponsored by the Origin Income Plus Fund, a diversified private real estate fund targeting a total annual return of 9 to 11%. Learn more by visiting www.originincomeplus.com/wci.

If you are a member of our private Facebook group, White Coat Investors, you'll know that we have been doing some Facebook live events there. Sometimes they are by myself and other times I bring on a sponsor and we answer your questions. If you want to interact with us live, face-to-face, and ask your questions, all you have to do is type them in as a comment, we'll answer your questions. It's like this podcast, except it's live. Become a member of the Facebook group at https://www.facebook.com/groups/whitecoatinvestors/ to participate in the next Facebook Live event.

Jun 20, 2019

Dr. David Draghinas is probably best known in this community for his podcast, Doctors Unbound, https://www.doctorsunbound.com/ where he shares inspiring stories about doctors doing extraordinary things. But in this interview I asked Dr. Draghinas about something extraordinary that he is doing. They converted one of their rental properties to a short term rental, then bought another luxury rental property, and rent both out as short term rentals through Airbnb and VRBO. These properties, managed by his wife, have done extremely well and they now consider themselves financially independent. To learn more about how to achieve FI through short term rentals listen to this episode as Dr. Draghinas shares what he has learned through this experience. Read the show notes at https://www.whitecoatinvestor.com/


Remember that the registration for the next Physician Wellness and Financial Literacy Conference, WCICON20, opens at 7pm MST on July 8th. Put the date in your calendar so you don't miss out on this opportunity.


Are you a member of the WCI Facebook group? We've been doing some Facebook Live events in the group where I've been answering your questions live. That has been a lot of fun so join that group if you haven't. https://www.facebook.com/groups/whitecoatinvestors/


I'd like to thank this episode's sponsor, Origin Investments. Private real estate is known for its stability and high returns, and Origin Investments has a great new fund that delivers both. The Origin IncomePlus fund is a diversified private real estate fund targeting the total annual return of nine to 11%, inclusive of 6% in annual distributions. Learn more by visiting www.originincomeplus.com/wci.

Jun 13, 2019

How does the US tax foreign investment income? Foreign income is taxed as ordinary income on your US tax return. No free lunch here, sorry. The places that are paying higher interest rates are generally expected to depreciate against the dollar. So should you invest in foreign currency trading? Listen to this episode to learn more. Find detailed show notes and links to everything discussed in this episode at https://www.whitecoatinvestor.com/

Remember registration for WCICon20 starts at 7:00 PM Mountain Time on Monday, July 8th.

This episode was sponsored by Set for Life Insurance. Set for Life clients have access to special services not available elsewhere in the industry like special discounts, gender-neutral policies, saving women significantly, priority underwriting handling, and on some occasions, exceptions in the underwriting process. For more information visit https://www.setforlifeinsurance.com/

Jun 6, 2019

Rick Ferri is a financial advisor and an accomplished author of 7 books related to investing. I consider him the heir apparent to Jack Bogle. In this interview we discuss passive investing and why you should be investing in index funds. As well as financial advisory fees and negotiating those fees with your advisor.

This episode is sponsored by Creighton University. Creighton University believes in equipping physicians for success in the exam room, the operating room, and the boardroom. If you want to sharpen your business acumen, deepen your leadership understanding, and earn your seat at the table, Creighton’s Executive Healthcare MBA is for you Specifically tailored to busy physicians, advanced clinicians, or working healthcare executives, our program blends the richness of on campus and the flexibility of online learning. Earn a Creighton University Executive MBA 18 months, 45 credit hours, and four, four-day on campus residencies. Learn in a deeply collaborative, peer to peer cohort, and elevate your expertise. Visit www.creighton.edu/CHEE to learn more.

May 30, 2019

What is Value Averaging and How Does it Work? It is an investing strategy that works like dollar cost averaging in terms of steady contributions, but differs in its approach to the amount of each contribution. My problem with it is mainly the side fund, the complexity and the extra work. I realized pretty early on I didn’t need to do that to reach my goals but I discuss how to do it in this episode if that is something you want to try.

This episode is sponsored by Origin Investments. Are you tired of the ups and downs of the stock market? Private real estate could be your answer and Origin Investments has a great solution. The company recently launched the IncomePlus Fund, a diversified private real estate fund designed to deliver a 6% stable annual dividend yield and a total return of 9 to 11%. The principals are investing $10 million of their personal capital alongside investors into the fund. Learn more about the Fund at www.originincomeplus.com/WCI. That’s www.originincomeplus.com/WCI.

May 23, 2019

I first met Bill Bernstein at the Bogleheads Conference in 2008. I was a Bernsteinhead before I was ever a Boglehead. The Four Pillars of Investing was certainly one of the first good books on investing I ever read and had a huge influence on my financial outlook. This interview with Dr. Bernstein is chalk full of so much financial wisdom that every investor should know.

Laurel Road has helped thousands of medical professionals across the country refinance federal and private school loans. Including my husband and I. They gave us the lowest rate and we were able to pay off our loans quickly. Of course we took advantage of the $300 bonus they offer In addition to offering a $300 bonus for WCI readers and listeners who refinance student loans with Laurel Road. Laurel Road also offers those in residency or fellowship the ability to make reduced payments throughout their training and up to 6 months after. Terms and conditions apply. For more information and to submit an application, simply visit www-dot-Laurel Road-dot-com/w-c-i-p-o-d-c-a-s-t

May 16, 2019

We talk about tips for physicians starting a family in this episode. You have to realize it has dramatic changes on retirement dates - pretty easy to FIRE without kids. Kids not only introduce additional expenses but can also change your lifestyle. It is a big decision. What do you want out of your life?

Are you tired of the ups and downs of the stock market? Private real estate could be your answer and Origin Investments has a great solution. The company recently launched the IncomePlus Fund, a diversified private real estate fund designed to deliver a 6% stable annual dividend yield and a total return of 9 to 11%. The principals are investing $10 million of their personal capital alongside investors into the fund. Learn more about the Fund at www.originincomeplus.com/WCI. That’s www.originincomeplus.com/WCI.

May 9, 2019

Our guest this episode is Jonathan Clements, a previous WSJ columnist, the blogger behind HumbleDollar.com, and the author of 8 books (7 financial and a novel) including one of my all time favorites, How to Think About Money. From Jonathan, "There are those who think the goal of investing is to beat the market and amass as much wealth as possible, that street smarts and hard work ensure investment success, and that the road to happiness is paved with more of everything. And then there are those who get it. Want a more prosperous, less stressful financial life?" Listen to this episode.

Creighton University believes in equipping physicians for success in the exam room, the operating room, and the boardroom. If you want to sharpen your business acumen, deepen your leadership understanding, and earn your seat at the table, Creighton’s Executive Healthcare MBA is for you Specifically tailored to busy physicians, advanced clinicians, or working healthcare executives, our program blends the richness of on campus and the flexibility of online learning. Earn a Creighton University Executive MBA 18 months, 45 credit hours, and four, four-day on campus residencies. Learn in a deeply collaborative, peer to peer cohort, and elevate your expertise. Visit www.creighton.edu/CHEE to learn more.

May 2, 2019

Many financial advisors are salesmen masquerading as financial advisors. You need to learn how to differentiate between the two so you make sure you are getting good advice at a fair price. In this episode you can learn how to to do that as well as how to move away from your salesman financial advisor if you find yourself working with one.

This episode is sponsored by Set for Life Insurance. Set for Life Insurance was founded by President, Jamie K. Fleischner, CLU, ChFC, LUTCF in 1993 which she started while attending Washington University in St. Louis. They specialize in individual term life, disability and long term care insurance. They work on the client’s behalf to shop around to find the most suitable products at the most cost effective rate. Set for Life is first and foremost a client-centric company. They listen carefully to the needs of clients. Because of the volume and exceptional reputation of Set for Life Insurance, as well as the relationships they have developed over the years, Set for Life clients have access to special services not available elsewhere in the industry. This includes special discounts, gender neutral policies (saving women significantly), priority underwriting handling and on some occasions exceptions in the underwriting process. For more information, visit Set For Life Insurance.com

Apr 25, 2019

Our guest this episode is Jimmy of The Physician Philosopher blog. Jimmy is an anesthesiologist, an academic physician working full-time and living on the East Coast. Despite his youth, he already has some impressive personal finance experience; he increased his net worth by 1/4 of a million dollars in his first year out of training and paid off $200,000 in student loans in 19 months. He clearly knows how to Live Like a Resident. Even though he grew up in a family where profligate spending, credit cards, and even bankruptcy were the norm. Like many financial bloggers and others who become financially literate at the beginning of their career, he plans to become financially independent by mid-career and cut back to part-time by 50. However, working 1.3 FTEs and having a side gig appears to be starting to take its toll, just like it has with many of you. Which brings us to the main reason for the addition of the Physician Philosopher to The White Coat Investor Network. It is his focus on balance, contentment, burnout, life design, and living intentionally. In short, I’m trying to add a little more philosophy to the hard-core financial topics we hit so often.

This episode is sponsored by PKA Insurance Group. Pradeep Audho is an independent insurance broker and the owner of PKA Insurance Group Inc. He is based in Boston, but works with clients nationwide. His focus is on Disability and Life insurance. Pradeep has over 15 years of experience providing clients with Disability and Life insurance. He represents all the major pure own occ disability insurance carriers. He is very laid back and approachable and is not a pushy sales person. You can request life and disability quotes on his website at pkainsurance.com. OR You can reach Pradeep by phone at 978-314-7795.

Apr 18, 2019

There are lots of ways to pay for a home, 15 year mortgages, 30 year mortgages, fixed, ARMS, paying all cash. What is right for you? I answer listener questions in this episode about buying a house.

The US is 9 years into the second longest economic expansion in US history and many people are asking how long can this go on? Further, the US is in an affordable housing crisis and when looked at together, these problems create a compelling opportunity. Seasoned real estate investors and sons of physicians Mark Khuri and Ryan Andrews launched “The Recession Resistant Fund”. The fund invests in value-add mobile home parks, self-storage facilities, and workforce apartment communities and provides investors with passive income and immediate diversification. The Fund currently holds an ownership stake in 27 properties across 9 states. Learn more at: www.recessionresistantfund.com

Apr 11, 2019

When should you hire a financial planner? You don’t have to know everything about finance to take care of your own finances. You only have to know the parts that apply to you. The amount of knowledge you have to assemble in order to do your own financial planning and investing can be surprisingly minimal. But there are a lot of ways a financial planner can help you. We discuss these ways and when it would be smart to hire professional help with your finances in this episode.

This episode is sponsored by Creighton University. Creighton University believes in equipping physicians for success in the exam room, the operating room, and the boardroom. If you want to sharpen your business acumen, deepen your leadership understanding, and earn your seat at the table, Creighton’s Executive Healthcare MBA is for you Specifically tailored to busy physicians, advanced clinicians, or working healthcare executives, our program blends the richness of on campus and the flexibility of online learning. Earn a Creighton University Executive MBA 18 months, 45 credit hours, and four, four-day on campus residencies. Learn in a deeply collaborative, peer to peer cohort, and elevate your expertise. Visit www.creighton.edu/CHEE to learn more.

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