S1 Ep62: Physician financial mistakes with The White Coat Investor

James M. Dahle, MD, FACEP, founder of The White Coat Investor, joins the show to talk about common financial mistakes that physicians make — and what they should be doing instead.

For more financial advice, check out Dahle's Medical Economics article, "Achieving financial success as a physician: Mastering 5 money activities."

Also, learn how to "divorce-proof your marriage" with these eight tips from Physicians Practice. 

Oh, and be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

Music Credits:
ORANGE by SINY - stock.adobe.com
Relaxing Lounge by Classy Call me Man - stock.adobe.com
COCKTAIL by Mythical Audio - stock.adobe.com

Editor's note: Episode timestamps and transcript produced using AI tools.

Introduction to the Podcast (00:00:13) 
Overview of the podcast and introduction of Jim Dahle, MD, FACEP, discussing financial mistakes for physicians.

Vision of the White Coat Investor (00:01:02) 
Dahle explains the mission of The White Coat Investor to help doctors manage their finances.

Handling Market Shocks (00:02:10) 
Discussion on how to approach investments during economic uncertainties and market volatility.

Financial Stress and Burnout (00:04:23) 
Exploration of the connection between financial issues and physician burnout.

Four Contributing Factors to Burnout (00:05:19) 
Dahle outlines the main factors contributing to physician burnout, including financial stress.

Financial Planning as a Solution (00:06:16) 
Emphasis on how good financial planning can alleviate burnout and improve career choices.

Promoting Clinical Resources (00:07:57) 
Mention of sister sites for clinical information and practice management resources.

Managing Medical Student Loans (00:08:27) 
Advice for young physicians on balancing student loan debt with building a financial foundation.

Current Student Loan Landscape (00:09:32) 
Analysis of the evolving situation regarding medical student loans and repayment options.

Strategies for Paying Off Student Loans (00:10:43) 
Recommendations for managing and paying off student loans effectively.

Financial Independence for Primary Care Physicians (00:12:42) 
Discussion on how primary care physicians can achieve financial independence despite lower earnings.

Increasing Income as a Primary Care Physician (00:14:58) 
Advice on negotiating salaries and improving income potential in primary care.

Common Financial Pitfalls for Physicians (00:15:58) 
Overview of frequent financial mistakes made by physicians and how to avoid them.

Qualities of a Good Financial Advisor (00:19:06) 
Guidance on what physicians should look for when selecting a financial advisor.

Stock Market as Gambling Trend (00:21:34) 
Concerns about treating stock market investments like gambling, particularly among younger physicians.

Understanding Long-Term Investing (00:22:20) 
Dahle explains the difference between short-term trading and long-term investing in profitable companies.

Speculative Inve