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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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Aug 27, 2020

Robinhood has been taking the investing world by storm the last few months. I thought it would be worth mentioning a few things about Robinhood on the podcast. Robinhood is just a brokerage account. It does have no commissions and allows you to buy fractional shares so it is convenient for people without a lot of money.  It has become a bit of a cultural phenomenon, particularly attracting young people who have never invested before. The problem is that it tends to inculcate people with a trader's mentality, making investing fun and exciting. Everything that good investing is not. There are dangers to Robinhood and this trader's mentality that I discuss in this episode to hopefully help you avoid the perils of day trading.

I also answer reader and listener questions about the finances of starting your own practice, whether it make sense to invest in bonds in a taxable account when you have a mortgage, making estimated tax payments as a W2 employee with 1099 income, what to do with a 401k when you leave your employer, and setting up an account to invest in real estate. 

 


This episode is sponsored by https://www.whitecoatinvestor.com/patternpodcast .  Shopping for disability insurance is complicated enough. Wondering if you are getting the right coverage, unbiased advice, along with the best prices and discounts can make the process even more overwhelming. Pattern   knows doctors have more important things to do than spend hours sorting through numerous insurance options. This is why thousands of White Coat Investor’s followers have trusted Pattern to help them compare and understand the disability insurance they are buying. Their online process is simple: First, request your quotes online. Second, compare your options and ask questions. And third, apply risk-free. Be confident you have the right policy at the best price. Request your disability insurance quotes with Pattern.

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