A listener emailed me who is lucky enough to get a generous gift every year from their grandparents of $14,000 in stocks. The stock is all from a single company that her grandfather worked for decades ago. Because he bought it early in the companies history it's basis is $0, meaning that they are on the hook for capital gains tax for anything they sell it for. The stock does relatively well and pays out good dividends. However, they don't love the risk of owning so much in one stock. He wanted to know what I thought they should do. Is the risk of keeping the stock outweighed by the tax penalty of selling the stock? Is there a way to convert this stock to a safer index fund without having to pay the capital gains tax? We are not all so fortunate to have relatives that gift us so much in stocks but it is still a question that I get every now and then so I wanted to address what to do with individual stocks in your taxable account, the pros and cons of selling them vs keeping them as a legacy holding in your portfolio.
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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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In this episode I speak with a young periodontist about his finances. He is doing great, having already paid off all his student loans relatively quickly. But like many of the WCI listeners and readers he started out with a financial advisor that tried to sell him insurance that wasn't right for him and he is in the process of moving on from that financial advisor. He is saving for a house down payment, upgrading a beater car from dental school, saving to buy a practice, and of course, saving for retirement. Lots of competing uses for his money. He has all the same challenges his young physician counterpart has and there is something for most to learn in this episode.
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If you’re like most doctors, nobody taught you anything about personal finance or investing during your undergrad, professional school, or residency. And even though your family - and perhaps even your business - rely on you to be the Chief Financial Officer, you have never been given the tools to succeed. Enroll in WCI Financial Boot Camp, a FREE educational email series, and learn to convert your high income to wealth. You will learn the basics of investing, saving, insurance, and more. Your high income alone will not lead to financial success, but as always, we want to help you on your financial journey. Go to https://www.whitecoatinvestor.com/financialbootcamp to sign up today! You can do this and The White Coat Investor can help.
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
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I was asked for some good strategies for investing in bonds in a rising interest rate environment. This episode I discuss short term, money market funds, inflation adjusted, and stable value funds. But don’t extrapolate the past into the future. Interest rates may go up, down, or stay flat. I don't have a working crystal ball. So I prefer a fixed asset allocation strategy.
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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
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Dr. Jason Mizell has been teaching a personal finance and investing course at his academic institution for medical students and residents for several years. It is inspiring to see what he has created and the difference he is making in the lives of these trainees.
Did you know that the White Coat Investor not only has a podcast and a blog but several books that will help you on your way to financial independence. These books cover topics such as asset protection and minimizing your taxes to keep more of your hard earned money. They discuss plans for insurance, housing, spending, student loan elimination, investing and estate planning. You can learn how to become a millionaire within 5-10 years of leaving residency and how to invest in a sensible low cost and effective manner with or without the assistance of a financial advisor. There is even a book geared directly toward medical and dental students so you can start optimizing your finances early in your professional journey. Find the book that is right for you at the WCI store at https://www.shop.whitecoatinvestor.com or on Amazon. You can do this and The White Coat Investor can help.
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