Today we are answering you questions about taxes. We talk about how investing can impact taxes, how to manage estimated payments for your taxes and qualified dividends and even answer a question about tax breaks from investing in oil and gas. We also answer a few questions about asset allocation. Before we get into all of that Dr. Dahle gives his opinion on what advice Dave Ramsey should have, but didn't, give to an unmatched doc in a mountain of debt. Listen to the Dave Ramsey call here: https://www.instagram.com/reel/Cx3Bntau-Au/?igshid=MzRlODBiNWFlZA%3D%3D
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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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Email from Reader:
Dear Dr. Dahle,
Thank you for all you do.
In your recent podcast with Dr. Shteynshlyuger, I wanted to correct his statement that the AMA "will not do anything to help" regarding unfair fees for EFT payments. I am an alternate delegate to the AMA for my state. Twice a year, delegations from all 50 states, national specialty societies, and the federal health services take time away from our busy practices and families to set policy and priorities for the AMA.
It is never accurate to say that the AMA "will not do anything to help" because the House of Delegates dictate what the AMA does. If an individual physician wants to advocate for stronger positions or a change in direction, they can bring resolutions to their state medical society or specialty society to ask their delegation to advocate their position and seek the support of other delegations.
That being said, the AMA has been fighting against these unfair practices for several years. In 2021, the AMA along with the 50 state medical associations and 40 specialty societies, sent a letter to CMS asking the Biden administration to take action on these unfair practices.
Furthermore, the AMA has a multitude of resources and guides on their website so that physicians and practices know their rights and how to navigate the system.
When physicians face challenges like these, it is important for us to stick together with a unified voice. Making inaccurate remarks about our own professional organizations does not move the needle.
ALEX RESPONSE
Hi XXXX,
I greatly appreciate the fact that you listened to the podcast + found a point of disagreement. I also appreciate the time + effort delegates like you commit to running the AMA. As you can imagine, I have put quite a few hours (and $$$) into advocacy on behalf of physicians.
I’m an AMA member as well + introduced many of the resolutions that you are alluding to. I'm in solo private practice, and it appears that you are part of a small private practice as well. Our interests should align.
You are correct to some extent that members write resolutions that are supposed to set policy. In reality, things work a little differently. Perhaps that’s one of the reasons that the AMA has a 15-20% approval rating (based on membership data).
In fact, many AMA policies are set without resolutions. So why should one have to write a resolution to reverse such policies? For example, the AMA decided to call virtual credit cards a “valid” payment method. Whose bright idea is that? Valid means "legal". Nowhere does the law say that VCCs are "legal" to use as a payment from insurance to doctors; in fact, it's the opposite. I have been fighting to get that language changed for years now -the AMA Board of Directors are well aware- nothing has been done. But here is a resolution (which should not be needed).
https://drive.google.com/file/
While the AMA management keeps writing letters, it fully knows that letters will not achieve anything. Talking to elected representatives will not achieve anything either since they have already spoken.
In fact, most recently, the AMA refused to confront the insurance lobby's attempt to “normalize” virtual credit cards. Do you know who confronted the insurance lobby? The American Hospital Association, whose policy team is run by a former AMA employee. I got 500 physicians to write letters to counter the AMA's complicity with UnitedHealthcare/Zelis/etc.
I hope you would be enraged if you found out what the AMA wrote: "Need a full understanding of the financial and administrative burden impacts to physicians prior to recommending adoption" referring to the proposal of adding virtual credit cards information to a standard 835 remittance advice. See the last point on page 9 of the AMA's presentation:
https://ncvhs.hhs.gov/wp-
I asked the AMA to come out swinging against this proposal - instead it did the opposite; fortunately >500 physicians spoke out to "neuter' the AMA's anti-physician 'advocacy".
If AMA representatives want to have a public discussion + defend what they do - I’m open to the idea.
Unfortunately, I know too much and have seen how the AMA operates. I used to be a WEDI member + sat in meetings with the AMA policy VPs.
I had to fight insurance companies + the AMA. Pretty insane - right? An AMA VP said in a meeting (siding with insurance lobby) that insurances have a "right" to impose costs on physicians" - apparently, it's a free country!
In summary, you were fed "inaccurate" and 'false' information by the AMA management (who knows who is behind it?).
Did the AMA leadership mention to you that AMA Insurance (offers Medicare secondary plan to retired doctors) joined with EchoHealth, which imposes fees on EFTs + sends virtual credit cards to doctors? I had to file a complaint with CMS against AMA Insurance. I recently heard that it's still happening.
I propose that the AMA starts sticking together with doctor's interests and does what I asked it to do: (1) send a letter to CMS/UHC/Cigna/BCBSA/AHIP saying that VCCs and EFT fees are "ILLEGAL" and that the AMA is revoking its prior statement that they are 'valid". Insurance companies use the AMA's unhelpful published statements to support their "position" to extract >$10 billion / year from doctors. "Don't look at us - AMA says it's legal." (2) file a lawsuit against CMS for APA violations. They know what I am talking about.
I hope I swayed your opinion a bit about the legitimacy of my criticism of the AMA's actions. Hopefully, you + the IOWA delegation will help me REFORM the AMA.
When the AMA does not perform to expectations, it's time to do a root-cause analysis of the AMA's failures to serve the interests of physicians.
Alex
This ER doc is celebrating his success building his net worth and his impending retirement. He did not do anything fancy with investments, he didn't build a real estate empire. He shows us that savings rate matters! If you save a high percentage of your income you will succeed financially. His advice to you is to save as much as you can and live well within your means. After 40 years of practicing medicine he feels ready to retire and start a new chapter of his life. After the interview we will be talking about cash balance plans for Finance 101.
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://whitecoatinvestor.com/courses.
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 talk about are if it is reasonable to use 457(b) money to help fund your child's college education, how to do a 401(k) rollover and then how to rebalance it, and we talk about if it makes sense to do Roth contributions in your peak earnings years if you plan to retire early and we answer a question about if it is ever a good idea to over fund a Roth IRA. These questions and more are answered on our episode this week.
As healthcare evolves, it means greater opportunities for you. You can learn about the growing need for locum tenens from the creators of the industry, CompHealth. These short-term assignments allow you to pay down your student loan debt faster or earn extra income. Locums also provides flexibility of schedule and location for better work-life balance. In addition to assignments across the US and abroad, CompHealth provides personalized, high-quality service, which means exploring additional options, such as a medical mission, telehealth work, or even a permanent position, and help with your CV, contract negotiations, and more. Connect with an expert at https://CompHealth.com
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 Hospitalist and Cardiology Fellow couple paid off almost $400,000 of student loans before they were both out of training! They put their noses to the grindstone and put all of their money to their loans. They said they are naturally not big spenders but were not financially literate until a few years ago when they found WCI. Once they knew what they needed to do they wrote a financial plan, made a budget and reduced their spending even more. It took them less than 3 years to pay off all of their student loans. After the episode stick around for Finance 101 to talk about the importance of saving to grow your wealth.
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://whitecoatinvestor.com/courses to sign up.
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 are talking with Drs Niki Kennedy and Dan Pipitone of Arborhive. We are talking all about entrepreneurship and how doctors can use their expertise outside of the standard medical box. We also hit on the flip side of entrepreneurship and talk about angel investing. Angel investing certainly is not for everyone. You really need to have the time and the money to be successful in that space. If you want to try your hand at angel investing we recommend limiting it to small percentage of your portfolio.
Thousands of doctors have trusted Pattern to help them understand and obtain disability insurance. They trust us because we know their time is valuable, and that doctors have more important things to do than worry about insurance. We gather quotes from the top 5 providers to deliver options unique to your situation. Here's how we do it:
1 - Request your quotes
2 - Compare your options in a short meeting with one of our expert sales advisors.
3 - Buy risk-free.
So, request your quotes today at http://www.patternlife.com/wcipodcast
Whether you’re buying plane tickets, paying for groceries, or filling up your car with gas, you’re probably using credit cards. And if you’re utilizing credit cards, it’s a good idea for you, as a doc or other high earner, to be saving money on purchases or earning free travel for using the right card at the right time. Need help in figuring it all out? Make sure to explore WCI’s recommended list for the best credit cards for you. And if you're a business owner, you may be interested in Capital One's new card, Venture X Business, where you can earn 2x miles per purchase, and earn 150,000 bonus miles when you spend $30,000 in the first three months! Learn more at https://WhiteCoatInvestor.com/VentureX
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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Our interview today is with a doc who has mastered the art of living like a resident. She shows us what working hard, saving and advocating for yourself can do for your finances. She has paid off her student loans, bought some new cars with cash, maxed out her retirement accounts, and purchased a new home! She works in academics and shows us that you don't have to make one million dollars to grow your wealth rapidly. Stick around after the interview for our finance 101 discussion on car insurance.
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://whitecoatinvestor.com/MDSurveys
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 tackle your questions about renting out a property, buying a house, estate planning, and the home office deduction. We also talk about a new potential long term care insurance tax in California, much like the tax in Washington State. We also have one of our real estate partners on to update you about what is going on at MLG and to help answer a few of your questions.
Laurel Road is committed to serving the financial needs of doctors. We want to help make your money work both harder and smarter, which is why we offer a 5.00% Annual Percentage Yield † on our High Yield Savings accounts. A Laurel Road High Yield Savings account comes with zero costs to open and no monthly account fees. † Whether you’re saving for an emergency fund or planning your next big purchase, you can keep building your savings and access your funds whenever you need them. For terms and conditions, please visit https://www.laurelroad.com/wci. Laurel Road is a brand of KeyBank N.A.
Disclosures:
Laurel Road is a brand of KeyBank N.A. All products are offered by KeyBank N.A. Member FDIC. ©2023 KeyCorp® All Rights Reserved.
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 a doc that has hit a half million dollar net worth. He took our Fire Your Financial Advisor course and gained the confidence to take control of his financial life. He fired his advisor that was really just a salesman and started making big progress on financial goals. After the interview we will be talking about financial advisors and how to make sure you get a good one, if you get one at all.
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. Sign up today at https://whitecoatinvestor.com/newsletter.
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 are answering your solo 401(k) questions. We tackle topics like what to do when you change from W2 to K1, when to create an S-Corp, how to convert old IRAs to solo 401(k)s and so much more. We also have one of our new recommended financial advisors on the podcast for a few minutes to help answer some of your questions about financial advisors.
Thousands of doctors have trusted Pattern to help them understand and obtain disability insurance. They trust us because we know their time is valuable, and that doctors have more important things to do than worry about insurance. We gather quotes from the top 5 providers to deliver options unique to your situation.
Here's how we do it:
1-Request your quotes
2-Compare your options in a short meeting with one of our expert sales advisors
3-Buy risk-free
So, request your quotes today at http://www.patternlife.com/wcipodcast
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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We loved hearing from this doc about how he advocated for changes to be made to his employer 401(k) plan. After a few years of requests he was happy to find they had added an option to have some after-tax contributions and in-service distributions that allows for mega back door Roth contributions. We love to see you making educated and positive changes in your workplace! Stick around after the interview for a discussion on tax brackets.
Southern Impression Homes is the premier provider of build-to-rent homes in Florida’s fastest-growing markets. Build-to-rent offers the benefits of tax-efficient cash flow while creating long-term wealth for you and your family. With a variety of floorplans built to withstand the test of time, including single-family and multifamily properties, Southern Impression Homes offers multiple price points to meet your investment strategy. To learn more about build-to-rent, visit https://southernimpressionhomes.com or call 904-831-8017!
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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Our guest today is Dr. Alex Shteynshlyuger. We learned about him in a ProPublica article we recently came across. Dr. Alex is on a crusade to educate docs about one very big way that they are getting ripped off and likely don't even know it. He educates us on what payment processing fees are, and how they came to impact docs. These fees are costing doctors millions and millions of dollars every single year. We hope everyone will listen to this episode and then fight for changes to this policy!
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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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On this episode we have a great interview with a concert roadie who has become a millionaire. This White Coat Investor lives in Brazil and has a degree in mechanical engineering but has been a roadie for his whole career. He loves his job and all of the travel and once in a lifetime adventures he has had through his career. He makes a six figure salary and has kept his cost of living low and savings rate high. He wants all of your to know there are so many jobs out there that don't require advanced education and huge amounts of debt that can provide a reasonable salary and a great career. If you are disciplined, intentional and live below your means you can have a wonderful life, fulfilling career, and still fund your retirement. Stick around after the interview for Finance 101 to talk about retirement accounts for those of you who are self employed.
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://whitecoatinvestor.com/mortgage.
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
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Today we answer your questions about agency bonds, what to invest HSA money in, factor investing, and whether to pay off debt or invest. We also discuss if it is a good idea to invest in India's stock market, answer a question about moonlighting and tax deductions and more!
Thousands of doctors have trusted Pattern to help them understand and obtain disability insurance. They trust us because we know their time is valuable, and that doctors have more important things to do than worry about insurance. We gather quotes from the top 5 providers to deliver options unique to your situation. Here's how we do it:
1 - Request your quotes
2 - Compare your options in a short meeting with one of our expert sales advisors
3 - Buy risk-free
So, request your quotes today at http://www.patternlife.com/wcipodcast
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
This pathologist is celebrating getting her financial ducks in a row and finally feeling ready to give up her side gigs and just work one job. She made some important steps that allowed them to feel confident that they were doing enough to secure their financial future. Some of those changes included selling their money pit house and went back to renting, shifted some child education costs for their special needs child, and not paying off her student loans right now because of the low interest rate. By not paying off the loans they are able to save and invest more. We hope you enjoy this unique interview! Stick around after the interview for a discussion about buying a house for Finance 101.
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 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. https://www.whitecoatinvestor.com/insurance/
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
Today, SC Gutierrez, long time friend of WCI and the podcast is joining Dr. Dahle to help answer your questions. Together they answer questions about student loans and the SAVE program, about how HSAs should be viewed as retirement accounts, the importance of a written financial plan and a friendly reminder that no one can time the market, and finally get into what a defined benefit plan is.
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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!
Financially Empowered Women: https://www.whitecoatinvestor.com/FEW
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
This doc decided to take some lemons that came his way and make lemonade. After being let go from his job he decided to continue to work part time in podiatry and to use the rest of his time to open an indoor golf franchise. He was struggling with burnout and found dividing his time between medicine and golf to help a great deal with that. After some time getting the franchise up and running he has decided he is also going to open his own practice. Stick around after the interview for an explanation of what it means to tilt your portfolio.
Today’s episode is brought to you by withco, the ownership company. You probably know that owning your practice’s real estate is a smart move; for your practice, and your family’s future. A lease-to-own partnership with withco makes it happen, allowing you to own your commercial real estate in just 5 years, with 0% down. Get advice from withco’s experts and access to the capital you need to own your real estate. Say goodbye to landlords, rent hikes and the risk of displacement. Take control of your future and Really Own It with withco. Visit https://with.co/whitecoat/ to learn more.
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
Today Dr. Dahle reminds us that 401K and IRA limits are totally separate. He once again reviews the changes that happened with the Secure Act 2.0 and then dives into a variety of your questions. Some of those questions are about 401(k)s, roth vs. traditional contributions, mega backdoor roth conversions, and what do with retirement accounts when transitioning from residency.
Thousands of doctors have trusted Pattern to help them understand and obtain disability insurance. They trust us because we know their time is valuable, and that doctors have more important things to do than worry about insurance. We gather quotes from the top 5 providers to deliver options unique to your situation. Here's how we do it:
1 - Request your quotes
2 - Compare your options in a short meeting with one of our expert sales advisors.
3 - Buy risk-free.
So, request your quotes today at http://www.patternlife.com/wcipodcast
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
This doc has been a White Coat Investor since he was a med student. He got started with his financial journey during residency and has hit financial milestones left and right. Less than 5 years after residency he has paid off his student loans, acquired several real estate properties, invested wisely and become a millionaire. If you want to follow in his path he recommends that you learn all you can, absorb everything you can, surround yourself with like minded people and work hard up front. After the interview we will talk about hitting the ground running for Finance 101.
We 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://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
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
Today Dr. Dahle speaks with financial therapist, Aja Evans. Aja is a licensed therapist with over a decade of experience in the mental health industry. They have a fascinating conversation about the impact of our various behavioral issues when it comes to finance. They discuss the guilt and shame that can come from making a financial mistake, from having saved too much or not enough, and the impact of not being comfortable making boundaries or having open conversations about finances. They get into why financial therapy can be beneficial and a great deal more. We hope you find this conversation helpful and inspiring.
Thousands of doctors have trusted Pattern to help them understand and obtain disability insurance. They trust us because we know their time is valuable, and that doctors have more important things to do than worry about insurance. We gather quotes from the top 5 providers to deliver options unique to your situation. Here's how we do it:
1 - Request your quotes
2 - Compare your options in a short meeting with one of our expert sales advisors.
3 - Buy risk-free.
So, request your quotes today at https://www.whitecoatinvestor.com/pattern
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
This CRNA just became a millionaire. He had his financial awakening after an expensive divorce and realized he needed to learn more about finances if he ever wanted to retire. He dove in and read everything he could. He is now on his way to financial independence. He said there is no secret to any of this - you just have to do the work. He encourages us to admit to ourselves what we don't know, then get educated and get to work. After the interview stick around for a discussion on disability insurance for Finance 101.
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://whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place.
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
Today we get into the weeds about annuities. We talk all about what they are and when (or if) they are worth owning. We answer a question about if your individual own occupation policy will be valid if you get injured on a year long vacation. We tackle questions about variable life policies, term life insurance and whole life insurance. We then answer a few questions about charitable giving.
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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
This emergency medicine resident saved $100,000 in his retirement accounts all during residency. He said living in the midwest helped because of low cost of living. In addition he stuck to a tight budget, cooked at home, rode his bike to the hospital and saved all he could. This doc is also committed to education and has helped many of his peers and attendings become more financially literate. He said his next big financial goal is to become a millionaire within 3-5 years. After the interview Dr. Dahle will be talking about cash and what to do with it for Finance 101.
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 whitecoatinvestor.com/MDSurveys
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
Today we have two locums docs on the podcast. One doc started his career as a locums doc before moving into long term employment. The other doc left long term employment for more flexibility and the chance to spend more time on his side gigs that he is passionate about. Both share their experiences as well as what they love (and don't love) about locums.
What’s changed in healthcare? The opportunities, the lifestyle, and you. Your needs, wants, and goals are probably different than they were five years ago. Now’s the perfect time to explore locum tenens opportunities. Start your research at https://locumstory.com - an unbiased, educational resource. You’ll hear true stories from physicians, learn about specialty trends, compare locums agencies, and more. Locums could be an essential part of a career that adapts to your needs. Visit https://locumstory.com
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
Our guest today is a nurse who has a networth of $1.8 million only 12 years out of training. He wanted to come on the podcast to make sure people know that you don't have to make a million dollars a year to become a millionaire. He has reached financial independence largely through real estate investments. He got his start by house hacking and using the money from rent to buy his next property. He said he lives frugally and doesn't spend a lot on materialistic things. We hope this guest inspires you as much as he did us. After the interview we will be talking about student loan refinancing for Finance 101.
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 https://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://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 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
Today we are answering your questions about 529 accounts. We talk about what a reasonable amount to put in a 529 is and what to do if you over fund it. We discuss if it is complicated to have multiple 529 accounts, what a "Daddy Match" is, how to decide what accounts to fund if you are cutting back at work and much more!
Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.
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