Passive Income. "The wealthiest physicians have loads of passive income. They don’t just have like trickling, bubbling streams…they have frothy rivers brimming with passive income." -Dave Denniston
In this podcast Dr. Dahle gives ideas for creating passive income, explains some tax implications, and shares recommendations for entrepreneurship.
He also answers listeners questions concerning whether or not to avoid the fees on your HSA by keeping money in the account or to invest it all, Roth IRAs for a non-working spouse, and debt negotiation versus bankruptcy with some solid advice for getting out of debt.
If you found this podcast useful visit our blog at http://whitecoatinvestor.com/ for more personal finance and investing information. Find an engaging and helpful community in our forum at http://whitecoatinvestor.com/forums/
This episode is sponsored by LendingHome, an online peer to peer short term mortgage lender. For accredited investors only, these loans have yields ranging from 7 to 16% and have an average LTV of only 70%. All loans are initially funded by LendingHome, ensuring your money earns interest from day one. All loan terms are of 12 months or less, providing a quick return of your capital. Learn more today at https://www.lendinghome.com/investor by calling 1-844-415-4663
Backdoor Roth IRAs and Why You Should Be Funding Them.
If you have no idea what a Backdoor Roth IRA is, listen to this podcast. Seriously. You need to know what it is.
Most physicians should be using a personal and spousal Backdoor Roth IRA. Not only does this provide an additional $5,500 each ($6,500 each if you and your spouse are over 50) of tax-protected and (in most states) asset protected space, but it allows for more tax diversification in retirement. That allows you to determine your own tax rate as a retiree by deciding how much to take from tax-deferred accounts and how much from Roth accounts.
In this episode Dr. Dahle also answers listeners' questions about using a physician mortgage loan and prioritizing a mortgage versus paying off debt.
If you found this podcast useful visit our blog at http://whitecoatinvestor.com/ for more personal finance and investing information. Find an engaging and helpful community in our forum at http://whitecoatinvestor.com/forums/
This episode is sponsored by Sofi, one of the world leaders in student loan refinancing. Sofi has been refinancing White Coat Investor readers for several years now and refinances literally dozens and dozens of you each month. Over the last few years they have probably refinanced thousands of you to lower rates, saving millions of dollars in interest for White Coat Investor readers. You can learn more and get the special White Coat Investor deal at www.sofi.com/whitecoat
Disability Insurance for High Income Earners: Understand these critical steps to purchasing disability insurance.
A medical resident’s most valuable financial asset is his future earnings ability, which is at serious risk of loss due to a personal disability. Dr Dahle outlines critical steps to purchasing disability insurance correctly in this podcast.
Disability insurance is FAR more complicated than term life insurance, and while it may not require a ton of time to understand and purchase a policy, it will require more self-education and a lot more decisions to be made. This episode will further your education and walk you through some of those decisions.
Dr. Dahle also answers questions from readers about when is the cheapest time to buy disability insurance and whether or not you should borrow money to buy disability and life insurance during residency.
If you found this podcast useful visit our blog at http://whitecoatinvestor.com/ for more personal finance and investing information. Find an engaging and helpful community in our forum at http://whitecoatinvestor.com/forums/
This episode is sponsored by Larry Keller, CFP, CLU, ChFC, RHU, LUTCF at Physician Financial Services. Larry is well-known to long-term blog readers from the nearly dozen guest posts he has submitted over the years. He has also worked with literally hundreds of WCI readers to get term life and disability insurance coverage in place. I’ve received tons of favorable feedback and absolutely zero negative feedback about Larry over the years. If you are in need of term life or disability insurance contact Larry at 516-677-6211 or LKeller@physicianfinancialservices.com.