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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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Now displaying: November, 2019
Nov 28, 2019

This week is continuing financial education week. See more information and resources to get financially literate at https://www.whitecoatinvestor.com/classic-blog/. I do this week every year with book reviews on the blog and podcast to encourage you to get financially literate. I view getting financially literate as reading a handful of books and getting a financial plan in place, whether that involves taking an online course like my Fire Your Financial Advisor https://whitecoatinvestor.teachable.com/p/fire-your-financial-advisor, or meeting with a good financial advisor who gives you good advice at a fair price, or just drafting up your financial plan yourself. I consider that your initial financial education. Your continuing financial education is following a good blog or podcast and reading one good financial book a year. I'm obviously partial to mine, but there are other good physician specific podcasts and blogs out there that you can follow if you like. And I share recommended books on the blog and podcast this week. If you've never read a finance book, I would start with the ones on my recommended list. The ones I review during continuing financial education week aren't always the ideal first book that you should read. Maybe the first book you should read is either the White Coat Investor or the White Coat Investors Financial Bootcamp, but I can't just have people read that every year.

We also offer some sweet deals to give you a little more encouragement to become financially literate. For this week only, if you buy our Fire Your Financial Advisor online course, we're going to give you the online version of the 2018 Physician Wellness and Financial Literacy Conference for free. That is basically an $800 value for just $499. This offer is good through Monday, December 2nd at midnight.

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://www.whitecoatinvestor.com/MDSurveys. 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 

Nov 21, 2019

A contract is just a vehicle to set expectations. But understanding those expectations is very important. We discuss what you need to know about negotiating a contract in this episode. See the full transcription at https://www.whitecoatinvestor.com/classic-blog. A contract discusses the physician's time and job responsibilities. Along with how they will be compensated, what benefits are provided, and what happens when that employer-employee relationship is terminated. Having a solid understanding of all these things will make a difference in your efforts to build wealth. Not to mention the benefit of negotiating that compensation so you ensure you are paid what you are worth. In this episode I interview Jon Appino from Contract Diagnostics, a long time advertiser that has helped many WCI readers and listeners better understand their contracts and negotiate better compensation packages. This is not an expensive service, a few hundred dollars. Considering how much money we are talking about, especially if it becomes a long-term job, a couple of hundred bucks is money well-spent. Listen to this episode to learn more about contracts, who is qualified to review one, find out what you are really worth, what you can negotiate in a contract, and whether or not you should hire someone to help with this process.

No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://www.whitecoatinvestor.com/courses to sign up. 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 

Nov 14, 2019

Our guest this episode is an asset protection attorney. See the full transcription here https://www.whitecoatinvestor.com/classic-blog/. A lot of readers and listeners had questions about the cost to value for asset protection. We discuss the cost of asset protection and the value of proactive asset protection planning with Brian Bradley of Bradley Legal Corp. He shares tips and questions to ask as you are identifying an asset protection attorney to work with. The first line of defense is insurance and then reducing your liability as much as possible. After that we start looking at asset protection strategies of what exemptions you can receive in your state and then jurisdictions in regards to trusts, whether that is domestic trusts, offshore trusts, or a hybrid bridge trust. This won't be for everyone but certainly as your financial life becomes more complicated, as you become more wealthy, as you take on more risks with businesses and investments, it may behoove you to find an asset protection attorney.

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://www.whitecoatinvestor.com/courses. 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 

Nov 7, 2019

Deducting your business vehicle sounds like a great way to lower your tax bill. Unfortunately it is probably not going to be a significant deduction for most doctors. For starters W2 employees cannot deduct a car or business mileage. You don't own a business so you cannot own a business vehicle. A business can buy a car if it is going to use it at least 50% for business purposes. Regardless of the percentage of time you use your car for business purposes, business owners can still deduct their business miles. Deducting business miles is worth $.58/mile in 2019. That is not insignificant and can really add up. I discuss the rules of business vehicle tax deductions in this episode to help you decide what you can deduct.

I also answer listener questions about how businessmen making millions avoid paying taxes, being on Tricare and using an HSA, what to do with the TSP when you retire, what to do with the whole life insurance policy your parents bought you, and how the pro-rata rule affects the mega backdoor Roth IRA. See the show notes at https://www.whitecoatinvestor.com/classic-blog/ 

If you are finding our podcasts informative and helpful we would encourage you to sign up for our monthly newsletter! It is totally free and includes useful, actionable information NOT AVAILABLE on the regular blog posts. It's almost like being in a secret club - the kind of club that can boost your knowledge and enhance your wealth at the same time - with no strings attached. Visit https://www.whitecoatinvestor.com/newsletter 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 
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 

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