This Psychiatrist paid off a whopping $460,000 in only 2 1/2 years! How did he do it? He picked up an extra job and worked as much as possible to bring in as much money as he could and ended up putting nearly $25,000 per month towards the debt! He made a handful of mistakes including over spending and stock picking before he learned that there was a better way! His financial awakening happened when a friend introduced him to the White Coat Investor Podcast. He shared that it is easy to make mistakes and it is okay to make mistakes. But consistency is key and even with some mistakes you too can do this! Stick around after the interview to learn about rebalancing your portfolio.
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://whitecoatinvestor.com/financialbootcamp to sign up today!
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 channel is for you!
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
Today we have our friend Paula Pant on the podcast. She is one of our Keynote speakers at WCICON24 that you will not want to miss. Today Paula and Dr Dahle cover a whole host of topics including Perma-Bears on the economy, the housing market in 2024 and if you should buy a house now or wait, and even Bitcoin spot ETFs. They also talk about career burnout and how Paula took a year long sabbatical to do an internship to allow herself time to recover from her own burnout.
Resolve is the #1 rated physician contract team, reviewing 1000+ physician contracts every year. They empower physicians with location specific compensation data which leads to unparalleled leverage during the physician contract negotiation process. A physician contract lawyer is included and can negotiate on your behalf – alleviating the stress that can go along with reviewing complex legal terms. Flat-rate pricing and flexible schedules are designed for a physician’s schedules. Use code WHITECOAT10 for 10% off!
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
This emergency medicine doc paid off a whopping $315,000 in only 12 months! He and his wife made some aggressive goals during residency to live like residents and work hard to get rid of their loans as quickly as possible. They show us that we can tackle anything we want if we are willing to work hard for it! After the interview stick around for a finance 101 discussion about health insurance in early retirement.
If you’re like most doctors, nobody taught you anything about personal 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://whitecoatinvestor.com/financialbootcamp to sign up today!
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 channel is for you!
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
Today is another Friends of WCI episode. Tyler Olson of Olson Consulting joins Dr. Dahle to answer your questions. They talk about paying taxes and if you should use a professional or do them yourself. They discuss medical loans and how taxes work with those. They discuss what to do with an old SEP IRA, if it is ever a good idea to over contribute to a 403(b) and the difference between average cost basis and actual cost basis.
Cerebral Tax Advisors: As the new year starts, it's crucial to take a proactive approach towards tax planning to ensure that you're leveraging all available money-saving strategies. Cerebral Tax Advisors, a White Coat Investor-recommended tax firm trusted by physicians nationwide, specializes in court-tested and IRS-approved strategies, helping medical professionals lower both, their personal and business taxes. Their services are flat-rate, focusing on the client's return on investment. Alexis Gallati, founder of Cerebral Tax Advisors, comes from a family of physicians and has over two decades of experience in high-level tax planning strategies and multi-state tax preparation. To schedule a free consultation, visit https://cerebraltaxadvisors.com.
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
This Neuroradiologist is growing his net worth like crazy. He discovered WCI in training and educated himself on how to reach financial independence. He and his wife had many discussions about how they wanted their financial journey and savings plan to look before getting married. They followed their plan with discipline and had a serious amount of savings by the time he finished training. They lived like a resident and have had a 25 - 40% savings rate. This guest shows us what can happen if you apply the WCI principles and stick with them. For finance 101 we will be talking about schedule A on your tax returns.
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.
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 channel is for you!
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
Today we are answering your questions! Before we get to those we have a few follow up comments from listeners from episode #345 about DAFs. We talk about the possibility of companies offering DAFs ability to control which charities you can or cannot donate to. Then we get into your questions about saving for intermediate term goals, institutional malpractice policies, how to safely invest in real estate and more!
Cerebral Wealth Academy: As we kick off 2024, dive into Cerebral Wealth Academy—created by Alexis Gallati, founder of Cerebral Tax Advisors. With more than 20 years of experience helping doctors save more of their hard-earned money, Alexis recently launched 'The Doctor’s 4-Week Guide to Smart Tax Planning,' an online course specifically designed for medical professionals with 1099 income. As a special New Year's treat, be among the first 20 to use the code WCITAX2024 for a $300 discount. Visit http://cerebralwealthacademy.com to start immediately implementing strategies that can save you thousands on taxes.
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
This doc wanted to see big changes made to his 457(b) plan so he got involved with the committee and ultimately helped to make massive changes. He helped to get the 457(b) changed from a single distribution upon retirement or leaving the job to the option of distributions for up to 15 years. This is a HUGE and important change that will mean the difference of thousand and thousands of dollars for everyone who uses the plan. We hope you find this episode as inspiring as we did! After the interview we will be talking about 457(b) plans 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.
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 channel is for you!
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
Today we talk with Dr. Jordan Grumet about how to live a regret free life. Dr. Grumet first read The White Coat Investor's Guide for Doctors back in 2014 and realized that he was already financially independent. This discovery opened his eyes to the fact that he could create more of the life he wanted. He sold his practice and reduced work hours and started spending his time where he really wanted to. He loved working in hospice and found great wisdom from people at the end of their lives and ultimately ended up leaving medicine, starting a podcast and writing a book. We think you will find this episode inspiring and will hopefully help you start to create a regret free life full of more of the things you love!
As healthcare evolves, it means greater opportunities for you. You can earn more with locum tenens, plus get flexibility for better work-life balance. The key is to find the right job to meet your individual needs. CompHealth is a leader in the locums industry, and they help you navigate all the options to find the best fit. They have access to thousands of jobs, including telehealth, medical missions, and even permanent placement. You get personalized service from CompHealth, because they place your best interests at the heart of everything they do. Learn more at https://CompHealth.com or visit them in person at WCICON24 February 5th through 8th in Orlando, Florida.
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
This doc made it back to broke only one year out of training. He was diligent about tracking his spending since med school and he attributes much of his success to having a plan and sticking to it. He said he definitely felt the temptation of lifestyle creep once he started seeing his paychecks but reminding himself that sticking to the plan was the best thing he could do for himself and his future self helped him stick to it! His advice to you? Make a budget, be on the same page as your partner, max out your retirement savings and know that if you stick to the plan time will work in your favor. After the interview we will talk about the difference between term life insurance and whole life insurance for finance 101.
We estimate that 80% of doctors need, want, and should use a financial advisor and/or an investment manager. Some investment gurus such as Dr. William Bernstein think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it—just make sure you are getting good advice at a fair price. If you need help updating your financial plan or just getting one in place, check out our list of recommended financial advisors at https://whitecoatinvestor.com/financial-advisors.
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 channel is for you!
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
Today Dr. Dahle debunks an article recently published titled "Why a ROTH is a Bad Idea (Yes, You Can Lose Money)". You can find that article here: https://lifeandmyfinances.com/investing/why-roth-ira-is-bad
He spends time educating on why ROTH is a fantastic place to put your money and why this article should never have been published. We also answer a few questions about buying houses now that interest rates are going up. We talk about 401(k) loans, ROTH conversions, how much you need to donate to justify a DAF and more!
As healthcare evolves, it means greater opportunities for you. You can earn more with locum tenens, plus get flexibility for better work-life balance. The key is to find the right job to meet your individual needs. CompHealth is a leader in the locums industry, and they help you navigate all the options to find the best fit. They have access to thousands of jobs, including telehealth, medical missions, and even permanent placement. You get personalized service from CompHealth, because they place your best interests at the heart of everything they do. Learn more at CompHealth.com or visit them in person at WCICON24 February 5th through 8th in Orlando, Florida.
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
Today we are celebrating a milestone we have never discussion on the podcast before. This doc has given more than $1 million to charity! This doc talked about the importance of having an outward focus on others and the positive impact that will have on your life and your career. He shared that sharing his wealth with others has brought him a lot of joy. We hope you find this story as inspiring as we did! After the interview we will be talking more about charitable giving for Finance 101.
Thousands of doctors have trusted Pattern to help them understand and obtain disability insurance. They trust us because we know their time is valuable, and that doctors have more important things to do than worry about insurance. We gather quotes from the top 5 providers to deliver options unique to your situation. Here's how we do it:
1 - Request your quotes
2 - Compare your options in a short meeting with one of our expert sales advisors.
3 - Buy risk-free.
So, request your quotes today at http://www.patternlife.com/wcipodcast
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 channel is for you!
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
Today we are talking with Adam Nash, founder and CEO of Daffy. We talk all about charitable giving, the most effective ways to give, what DAFs are and what is unique about Daffy. We get into how to teach your kids about giving and how to make giving part of your life and financial plan and not just something that you do once in awhile.
Click here to get $25 when you open and fund an account at Daffy.org
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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
This family nurse practitioner hit a net worth of $250,000 only a few years out of training. This NP served our country and saved a lot of money while he did. He said learning to have delayed gratification has been a huge part of his success. In addition to investing he has purchased a short term rental property and a condo that are adding to his overall wealth. After the interview we will talk about some of the different pathways you can take with the military to get your career started.
Thousands of doctors have trusted Pattern to help them understand and obtain disability insurance. They trust us because we know their time is valuable, and that doctors have more important things to do than worry about insurance. We gather quotes from the top 5 providers to deliver options unique to your situation. Here's how we do it:
1 - Request your quotes
2 - Compare your options in a short meeting with one of our expert sales advisors.
3 - Buy risk-free.
So, request your quotes today at http://www.patternlife.com/wcipodcast
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 channel is for you!
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
Today we are answering your questions off the SpeakPipe. We talk about structured notes, asset protection, I Bonds, Cash Balance funds, and fees for different investments. We also talk about the importance of keeping your personal information and passwords safe from identity theft.
As healthcare evolves, it means greater opportunities for you. You can earn more with locum tenens, plus get flexibility for better work-life balance. The key is to find the right job to meet your individual needs. CompHealth is a leader in the locums industry, and they help you navigate all the options to find the best fit. They have access to thousands of jobs, including telehealth, medical missions, and even permanent placement. You get personalized service from CompHealth, because they place your best interests at the heart of everything they do. Learn more at CompHealth.com or visit them in person at WCICON24 February 5th through 8th in Orlando, Florida.
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
This doctor paid off $260,000 of student loans only 2 years out of training. Not only did he pay off his loans quickly, he did it despite becoming disabled. This doc suffered a stroke one year ago and had to file for disability and rehab back to health. He had to take time off work and was very grateful to have a solid disability policy. How did he manage all of it? He didn't over inflate his lifestyle and he poured everything he could into tackling his goal until it was accomplished. After the interview we will be talking about disability insurance.
Cerebral Tax Advisors, a White Coat Investor-recommended tax firm, has exciting news! Alexis Gallati, the founder of Cerebral and author of "Advanced Tax Planning for Medical Professionals," is taking her passion for teaching to the next level by launching Cerebral Wealth Academy. Her course, "The Doctor’s 4-Week Guide to Smart Tax Planning," is specifically tailored for medical professionals with 1099 income. In just 4 weeks, doctors can be prepared to IMMEDIATELY implement strategies that could save them thousands of dollars in taxes. Be one of the first 20 listeners to use the code WCITAX300 and receive a $300 discount! Visit https://cerebralwealthacademy.com to learn more.
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 channel is for you!
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 Columnist, pediatrician, and WCICON speaker, Margaret Curtis, joins Dr. Dahle today on the podcast to help answer your questions. They debate the age old questions of pay down debt vs invest as well as if it is better to rent or buy in this market. They answer a workplace 401(k) question and discuss how you know if you are getting good advice at a fair price.
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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!
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This doc has paid off $300,000 of student loans only 2 years out of training. He put nearly half of his income towards his loans every month. Not only was he paying big bucks towards his loans but he also started his emergency fund and maxed out a 403(b), 457(b), and invested in an HSA and brokerage account. He became financially literate in med school and the rest is history! Stick around after the interview for a discussion about contribution limits for Finance 101.
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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 channel is for you!
Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones
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Today we are talking with Van Carlson of SRA 831(b) Admin all about captive insurance. We talk about who captive insurance is for, how to evaluate a good plan, how much capital a captive should have, and how to set premiums. We discuss how this can be a great risk management strategies with some tax benefits as well as how to avoid a bogus risk pool. There is a lot of great information here on a topic we were excited to learn more about.
As healthcare evolves, it means greater opportunities for you. You can earn more with locum tenens, plus get flexibility for better work-life balance. The key is to find the right job to meet your individual needs. CompHealth is a leader in the locums industry, and they help you navigate all the options to find the best fit. They have access to thousands of jobs, including telehealth, medical missions, and even permanent placement. You get personalized service from CompHealth, because they place your best interests at the heart of everything they do. Learn more at https://CompHealth.com or visit them in person at WCICON24 February 5th through 8th in Orlando, Florida.
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!
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This family medicine doc is back to broke only 2 years out of training. When he came out of training his net worth was nearly negative $300,000! He has shown us that just chugging along on your financial goals will get you where you want to be! Saving for retirement, paying down those loans, and having a plan is all it takes. He said he expects to have his student loans paid off in about 3 years with millionaire status just a few years behind that. After the interview we will be talking about wills for finance 101.
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. Head over to https://www.whitecoatinvestor.com to start learning today.
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 channel is for you!
Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones
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How to Surrender One of Those Nasty Indexed Universal Life Insurance Policies. Today we are answering your questions on the speakpipe. If you want your question answered leave us a message at https://whitecoatinvestor.com/speakpipe. Today we talk about 401(k)s vs. SEP IRAs, legal insurance, disability insurance, how to surrender an indexed universal life policy and more!
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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!
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This radiologist moved here from Brazil 20 years ago after completing medical school. She wanted to come on the podcast to help educate other international medical graduates about how to succeed in the US financial system. It was a steep learning curve but she wants all immigrants to know they can do this and be successful! This episode is packed full of advice and encouragement. Raquel Oliva Alencar, is an MD, PhD, and CEO and Founder of Scientia Imaging. After the podcast Dr. Dahle talks more about IMGs.
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://whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place.
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 channel is for you!
Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones
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Today we are talking with Dr. Stacy Taniguchi about choosing to thrive and creating a life you would want to live over and over again. Dr. Taniguchi talks about making the most of the time we have on this earth and being intentional about spending our time and money doing what we truly value. He does not like the idea of a bucket list, but prefers focusing on a Thrive LIst that helps you go about living your fullest life.
As healthcare evolves, it means greater opportunities for you. You can learn about the growing need for locum tenens from the creators of the industry, CompHealth. These short-term assignments allow you to pay down your student loan debt faster or earn extra income. Locums also provides flexibility of schedule and location for better work-life balance. In addition to assignments across the US and abroad, CompHealth provides personalized, high-quality service,
which means exploring additional options, such as a medical mission, telehealth work, or even a permanent position, and help with your CV, contract negotiations, and more. Connect with an expert at CompHealth.com.
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!
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Today we are talking with an emergency medicine doc who became a millionaire only 2 years after training. He is the perfect example of how quickly you can get ahead financially if you educate yourself in medical school. If you can hit the ground running as soon as training is over it will make a massive impact on your nest egg. After the interview we will be talking about how to spend in retirement.
Cerebral Tax Advisors, a White Coat Investor-recommended tax firm, has exciting news! Alexis Gallati, the founder of Cerebral and author of "Advanced Tax Planning for Medical Professionals," is taking her passion for teaching to the next level by launching Cerebral Wealth Academy. Her course, "The Doctor’s 4-Week Guide to Smart Tax Planning," is specifically tailored for medical professionals with 1099 income. In just 4 weeks, doctors can be prepared to IMMEDIATELY implement strategies that could save them thousands of dollars in taxes. Be one of the first 20 listeners to use the code WCITAX300 and receive a $300 discount! Visit https://cerebralwealthacademy.com
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 channel is for you!
Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones
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Today we are answering you questions about taxes. We talk about how investing can impact taxes, how to manage estimated payments for your taxes and qualified dividends and even answer a question about tax breaks from investing in oil and gas. We also answer a few questions about asset allocation. Before we get into all of that Dr. Dahle gives his opinion on what advice Dave Ramsey should have, but didn't, give to an unmatched doc in a mountain of debt. Listen to the Dave Ramsey call here: https://www.instagram.com/reel/Cx3Bntau-Au/?igshid=MzRlODBiNWFlZA%3D%3D
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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!
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Email from Reader:
Dear Dr. Dahle,
Thank you for all you do.
In your recent podcast with Dr. Shteynshlyuger, I wanted to correct his statement that the AMA "will not do anything to help" regarding unfair fees for EFT payments. I am an alternate delegate to the AMA for my state. Twice a year, delegations from all 50 states, national specialty societies, and the federal health services take time away from our busy practices and families to set policy and priorities for the AMA.
It is never accurate to say that the AMA "will not do anything to help" because the House of Delegates dictate what the AMA does. If an individual physician wants to advocate for stronger positions or a change in direction, they can bring resolutions to their state medical society or specialty society to ask their delegation to advocate their position and seek the support of other delegations.
That being said, the AMA has been fighting against these unfair practices for several years. In 2021, the AMA along with the 50 state medical associations and 40 specialty societies, sent a letter to CMS asking the Biden administration to take action on these unfair practices.
Furthermore, the AMA has a multitude of resources and guides on their website so that physicians and practices know their rights and how to navigate the system.
When physicians face challenges like these, it is important for us to stick together with a unified voice. Making inaccurate remarks about our own professional organizations does not move the needle.
ALEX RESPONSE
Hi XXXX,
I greatly appreciate the fact that you listened to the podcast + found a point of disagreement. I also appreciate the time + effort delegates like you commit to running the AMA. As you can imagine, I have put quite a few hours (and $$$) into advocacy on behalf of physicians.
I’m an AMA member as well + introduced many of the resolutions that you are alluding to. I'm in solo private practice, and it appears that you are part of a small private practice as well. Our interests should align.
You are correct to some extent that members write resolutions that are supposed to set policy. In reality, things work a little differently. Perhaps that’s one of the reasons that the AMA has a 15-20% approval rating (based on membership data).
In fact, many AMA policies are set without resolutions. So why should one have to write a resolution to reverse such policies? For example, the AMA decided to call virtual credit cards a “valid” payment method. Whose bright idea is that? Valid means "legal". Nowhere does the law say that VCCs are "legal" to use as a payment from insurance to doctors; in fact, it's the opposite. I have been fighting to get that language changed for years now -the AMA Board of Directors are well aware- nothing has been done. But here is a resolution (which should not be needed).
https://drive.google.com/file/
While the AMA management keeps writing letters, it fully knows that letters will not achieve anything. Talking to elected representatives will not achieve anything either since they have already spoken.
In fact, most recently, the AMA refused to confront the insurance lobby's attempt to “normalize” virtual credit cards. Do you know who confronted the insurance lobby? The American Hospital Association, whose policy team is run by a former AMA employee. I got 500 physicians to write letters to counter the AMA's complicity with UnitedHealthcare/Zelis/etc.
I hope you would be enraged if you found out what the AMA wrote: "Need a full understanding of the financial and administrative burden impacts to physicians prior to recommending adoption" referring to the proposal of adding virtual credit cards information to a standard 835 remittance advice. See the last point on page 9 of the AMA's presentation:
https://ncvhs.hhs.gov/wp-
I asked the AMA to come out swinging against this proposal - instead it did the opposite; fortunately >500 physicians spoke out to "neuter' the AMA's anti-physician 'advocacy".
If AMA representatives want to have a public discussion + defend what they do - I’m open to the idea.
Unfortunately, I know too much and have seen how the AMA operates. I used to be a WEDI member + sat in meetings with the AMA policy VPs.
I had to fight insurance companies + the AMA. Pretty insane - right? An AMA VP said in a meeting (siding with insurance lobby) that insurances have a "right" to impose costs on physicians" - apparently, it's a free country!
In summary, you were fed "inaccurate" and 'false' information by the AMA management (who knows who is behind it?).
Did the AMA leadership mention to you that AMA Insurance (offers Medicare secondary plan to retired doctors) joined with EchoHealth, which imposes fees on EFTs + sends virtual credit cards to doctors? I had to file a complaint with CMS against AMA Insurance. I recently heard that it's still happening.
I propose that the AMA starts sticking together with doctor's interests and does what I asked it to do: (1) send a letter to CMS/UHC/Cigna/BCBSA/AHIP saying that VCCs and EFT fees are "ILLEGAL" and that the AMA is revoking its prior statement that they are 'valid". Insurance companies use the AMA's unhelpful published statements to support their "position" to extract >$10 billion / year from doctors. "Don't look at us - AMA says it's legal." (2) file a lawsuit against CMS for APA violations. They know what I am talking about.
I hope I swayed your opinion a bit about the legitimacy of my criticism of the AMA's actions. Hopefully, you + the IOWA delegation will help me REFORM the AMA.
When the AMA does not perform to expectations, it's time to do a root-cause analysis of the AMA's failures to serve the interests of physicians.
Alex
This ER doc is celebrating his success building his net worth and his impending retirement. He did not do anything fancy with investments, he didn't build a real estate empire. He shows us that savings rate matters! If you save a high percentage of your income you will succeed financially. His advice to you is to save as much as you can and live well within your means. After 40 years of practicing medicine he feels ready to retire and start a new chapter of his life. After the interview we will be talking about cash balance plans for Finance 101.
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. We think it just might be the best real estate course on the planet. Continue your wealth-building journey today with the No Hype Real Estate Investing course at https://whitecoatinvestor.com/courses.
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 channel is for you!
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
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