Which states are best for real estate investing? This is like asking which investment is best. You can really only know in retrospect and it'll depend on how things perform over the next 10-30 years. But there are a few things to know that would probably help. I discuss those in this episode as well as list the states that typically make the top of that list. But personally, if I was going to buy a rental property, I think the best place is down the street. It is easy to check on and you can fix the small things yourself without hiring a professional. If you want to invest in real estate outside of your state I think the best way to do that is through syndications or private real estate funds.
I also answer many listener questions in this episode about investing in a Roth or a tax deferred 401(k), what to do if you income goes up, mortgage forbearance, tax loss harvesting, multiple 401 (k) rules, small practice retirement plans, paye vs repaye, mega backdoor Roth contributions, keogh plans, and more. Lots of listener questions answered in this episode. See the full show notes at https://www.whitecoatinvestor.
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!
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Financial infidelity can mean many things. I have talked for a long time about the important of being on the same page financially with your spouse. It is so important to be open with each other as far as your finances go. If you are not doing this together, you are almost surely not going to be successful. For this show I have a guest that shares her story of financial infidelity, a spouse who was hiding a gambling addiction. See the full show notes here https://www.whitecoatinvestor.com/classic-blog/. She wanted to come on the show to share her experience so that others in similar situation would not feel so isolated. A lack of support when faced with a spouse with an addiction can be a big obstacle to getting help. She shares her story along with resources where you can turn for help if you are dealing with addiction in your family. We also discussed what she did to protect herself financially, and in her recovery, so that she can thrive after a worst-case financial scenario like she experienced. I would hope that no other listeners and readers are going through something as difficult as this, but as we discussed in this episode, it is unfortunately more common than we think. Hopefully this show can reach those who could benefit from hearing this doctor's experience.
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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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If you want to retire early, which specialty would be best to go into? Let's get one thing straight from the beginning, medicine is not a great option for FIRE in the first place. With the long years in training, you won't even start making significant money until your mid thirties with $300-400K in student loan debt. Traditional FIRE at 30 or 35 like all these FIRE blogs talk about is not possible in that situation. So if your goal is to retire early, medicine is probably not the right place for you. Not to mention if you are a medical student with this question, there is probably an issue with the career you chose. Maybe you should be thinking about getting out of medicine into a career you’ll be happier in long term. But I do answer this question in this episode even so. Shorter residencies do get you to attending income sooner but those also tend to be on the lower end of salaries for physicians. It may not make sense to choose a specialty with a shorter residency if you will be paid significantly less each year afterwards. In this show I share which specialty I think is best for retiring early and why. I also answer listener questions about buying a home while in the military, timing the market, being over leveraged in your real estate investments, disability insurance for military doctors, tax loss harvesting, and more. I also bring on a guest for a few minutes, Ryan Inman from Financial Residency Podcast and Physician Wealth Services to answer a couple of listener questions about rebalancing and investing on the fixed income side. Lots of your questions answered in this episode!
Still not sure what to do with your student loans? Overwhelmed with how to tackle that giant debt in an ever changing political climate? The experts at StudentLoanAdvice.com are here to help guide you through the best options to manage your loans – our experienced staff have consulted on over $250M in student loan debt, and the average studentloanadvice.com client has saved over $190,000 dollars. You will receive a customized student loan plan using the principles of The White Coat Investor, get answers to all of your student loan questions, gain clarity about your financial future and start down the right path toward financial freedom. Book a consult today at https://www.studentloanadvice.com. 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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What should a physician or dentist who wishes to sell their practice know about the process? What mistakes do doctors make in this transaction? What strategies can doctors use at the time of sale? These are the questions we answer during this interview with Kyle Rudduck, CFA, CFP of Constellation Wealth Management. Kyle spent the early years of his career working with consulting firms that focused on the healthcare sector with buyers and sellers of medical practices. He describes the practice valuation process in this episode and we discuss the range of multiples on EBITDA for a practice, how to minimize the tax cut when you sell, as well as what can be done in the years prior to the sale to increase the value of a practice. He talks about how a sale typically affects employees, and how a sale is different than a merger. We discuss how often doctors regret selling their practice to a hospital, private equity group, or other entity. This can be a huge transaction that you will probably only do once in your lifetime. You want it to go as successfully as possible. This episode will help you navigate the process.
Do you ever find yourself wishing there was somewhere to go to ask your finance, insurance or investing questions? The White Coat Investor community is a great place to turn. We have a thriving community across all of our social channels - facebook, twitter, instagram, reddit and our WCI forum. We have been discussing solutions to your money problems since 2011. Join the conversation with thousands of other White Coat Investors. Follow WCI on your favorite social media platform for financial resources, tips and strategies. Just head to your platform of choice and search for The White Coat Investor. 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