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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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Feb 16, 2017

Backdoor Roth IRAs and Why You Should Be Funding Them.

If you have no idea what a Backdoor Roth IRA is, listen to this podcast. Seriously. You need to know what it is.

Most physicians should be using a personal and spousal Backdoor Roth IRA.  Not only does this provide an additional $5,500 each ($6,500 each if you and your spouse are over 50) of tax-protected and (in most states) asset protected space, but it allows for more tax diversification in retirement. That allows you to determine your own tax rate as a retiree by deciding how much to take from tax-deferred accounts and how much from Roth accounts.

In this episode Dr. Dahle also answers listeners' questions about using a physician mortgage loan and prioritizing a mortgage versus paying off debt.

If you found this podcast useful visit our blog at http://whitecoatinvestor.com/ for more personal finance and investing information. Find an engaging and helpful community in our forum at http://whitecoatinvestor.com/forums/

This episode is sponsored by Sofi, one of the world leaders in student loan refinancing. Sofi has been refinancing White Coat Investor readers for several years now and refinances literally dozens and dozens of you each month. Over the last few years they have probably refinanced thousands of you to lower rates, saving millions of dollars in interest for White Coat Investor readers. You can learn more and get the special White Coat Investor deal at www.sofi.com/whitecoat

 

 

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