Today on the podcast we are talking with Kyle Claussen from Resolve. He chats with Dr. Dahle about the importance of really advocating for yourself and your pay when starting a new job and signing a new contract. It is critical to negotiate until you feel confident and happy with any contract you sign. Many doctors are not paid what they are worth because they do not advocate for themselves. They discuss how helpful it can be to hire a professional to navigate that process. They also discuss non compete contracts and what the future might hold when those are no longer legal.
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!
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Today we are talking with an ENT who has paid off $300,000 of student loans. This is a doc who was comfortable paying the loans off over time while he continued to save and invest and build wealth along the way. He and his wife put a lot of money toward their top priority, which was starting a family. Fertility treatments were expensive and came before paying off the loans. Happily they have been successful on all fronts and have grown their family, paid off debt and built wealth. For finance 101 we will be talking about mutual funds and ETFs.
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 on over to https://www.whitecoatinvestor.com to start learning 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 channel is for you!
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Today we are answering your questions about retirement accounts. We start out by addressing the recent change with Vanguard getting out of the solo 401(k) game. Then we talk about if you can contribute to both a solo 401(k) and the TSP if you are in the military, we discuss 401(k) employer matching, concerns around losing a non-governmental 457b, what to do with an inherited IRA, and converting from pretax to Roth.
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!
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This pharmacist has paid off $286,000 of student loans with just over $200,000 of that in the last 15 months. How did he do it? He basically doubled his income by getting a higher paying job and working a side gig in retail pharmacy on the weekends. He said getting that debt off his shoulders has felt incredible and he is loving not having to work as much at his side gig. He is now focused on building his wealth and his real estate empire. After the interview we will be talking about working longer.
Love what you hear on the podcast? Looking for more great White Coat Investor content? Head over to our YouTube channel where you can watch video recordings of our podcast, short snippets of financial tips explained succinctly by me and others, and deep dives into topics for more in depth learning. You can even learn all about real estate with webinars from our real estate partners. Check out all this and more at https://www.youtube.com/thewhitecoatinvestor. 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 channel is for you!
Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones
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Today we answer your questions about rolling over an HSA, when to withdraw from your HSA, whether a UTMA or Custodial Roth IRA is better for your kids, if it is a good idea to open a solo 401(k) for your kids, how to maximize your 403(b) contributions and how to mimic the US Stock Market index fund if your 403(b) doesn't offer that.
At some point in our financial lives, it will be time to buy a home. A physician mortgage can be a good vehicle for a young doctor who’s just out of school and has a more effective place to use their money than on a big down payment. These loans allow doctors to secure a mortgage with fewer restrictions and a lower down payment than a conventional mortgage. But if you’re further advanced in your career or deeper into your journey to financial freedom, buying a home with a conventional mortgage and then, later on, potentially refinancing that loan to a better rate with a shorter time frame could be a great move. Wherever you are in your financial journey, make sure you use the mortgage that will be most financially beneficial for you. Hop over to our recommended tab to learn more about all of your mortgage and refinancing options at https://www.whitecoatinvestor.com/mortgage. 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!
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This VA emergency doc has paid off $370,000 in student loans in only 5 years! Not only that but he and his wife are already millionaires. He said it is impossible to overstate how good it feels to have paid off those student loans. They have also put a huge percentage of their income towards building wealth. They are currently completely debt free and cruising towards financial independence. After the interview we will be talking about what false diversification means for Finance 101.
I 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://www.whitecoatinvestor.com/financial-advisors. 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 channel is for you!
Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestones
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Student Loan Advice: https://studentloanadvice.com
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Today we spend some time talking about what to do when you and your spouse or partner do not see eye to eye about certain parts of your financial life. It can be extremely difficult when your vision does not align. But it is critical to work through it and get on the same page. We also answer another handful of questions about Roth IRAs, Roth conversions and rollovers, the mega backdoor Roth and more.
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://www.whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. 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
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This hospitalist has paid off $155,000 in only 2 years! He said he was able to stick to his aggressive payment plan because he also allowed himself to enjoy his life along the way. He left room in his budget for some travel and some of the little life luxuries that feel good. He is great example of finding that balance of building wealth and enjoying the process. Stick around after the interview for a Finance 101 discussion about buying a house as a resident.
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 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