White Coat Investor Podcast

This family doc has all kinds of milestones to celebrate. He recently received PSLF, his net worth just exceeded $1 million and he is almost to $1 million invested. He is crushing the finance game. His secret to success is side gigs, side gigs, side gigs! He knows how to hustle and had the benefit of having his financial awakening during training so he could hit the ground running when he became an attending. For finance 101 we are...

Today we answer a handful of HSA and FSA questions including what to do when you contribute incorrectly and what to do when you have problems with reimbursement for medical spending. We answer a question about calculating equities. We also do a deep dive into malpractice insurance with information about lizard tails, veto clauses and hammer clauses.

Today’s episode is brought to us by SoFi, the folks who help you get your money rig...

Today we hear from a Veterinarian who is back to broke only 10 months out of training. This vet lives in the midwest and really shows what geo arbitrage can do. He has a fantastic income and a very low cost of living and those two things make a huge impact on finances. He has paid off almost all of his student loans and has saved for a down payment at the same time. His frugality, smart decisions, and hard work has made all of this...

Dr. Dahle's good friend, Dr. Matt Morgan, joins us on the podcast today. Dr. Morgan just completed a one year sabbatical that was all about living intentionally and creating the life he wants now, not after retirement. Matt talked about his desire to be able to say yes to the things he loves any time he wanted to. He and his family spent time at home as well as traveling to New Zealand and all over Europe. He is a great example of ...

Today we are talking with a CRNA who has become a millionaire! She is 18 years out of training and now has more than a million dollars in retirement accounts. Her story is a great example that if you just keep saving, and you keep increasing your income, and give it time, you will become a millionaire. You don't have to do anything fancy. She recommends that you really advocate for yourself to get paid what you deserve. Increasing ...

Today we are answering more of your Roth IRA and 401(k) questions. We talk about the difference between Roth and Traditional IRAs and then answer a question about Roth IRAs for your kids. We talk about some things to think about when changing your business 401(k) plan administrator and then explain what to do if you over contribute to your 401(k).

Today’s episode is brought to us by SoFi, the folks who help you get your money right...

Today we are talking with a doc who is celebrating getting back on track after some financial mistakes. He made the same mistake so many of us have and ended up with a bad financial advisor. His advisor sold him a disability policy that was overpriced and not a good product. Once he had his financial awakening he realized he could do this on his own. He fired his advisor and dropped the crappy policy. He took on his student loans i...

Today we are talking with Dr. Rob Orman. Dr. Orman is a writer, podcaster and coach. He is an emergency medicine doc who now works with physicians to build resilience, overcome burnout, and reconnect with meaning and purpose in their work. In this conversation we discuss side gigs and the impact they can have, we talk about the incredible power of mindset, we talk about burnout and so much more.

Financial Waterfalls for New Residen...

Today we have a two doc couple on the podcast who are back to broke. This couple lives in NYC, has two young children and had nearly $1 million in student loans at the end of training. They have worked hard to get on the same page, save and build wealth, and still have fun living their lives in the process. They talked about the need to know what you care about and what you don't. They care more about travel than a fancy expensive ...

Today we start out by talking about what to do when your work place turns toxic and how to protect yourself from bad employers and from losing your job. The truth is sometimes you might just have to go find a new job. The biggest risk to the longevity of your career and becoming financially independent is burnout. If you hate your job, you are at great risk of burnout. We also answer some questions about real estate around buying i...

Today we are talking with a dentist who is completing his HPSP contract. He shares with us the positives and the negatives of his four year contract. He said he definitely came out ahead financially going this route and he is very excited to complete his contract and move forward with his career. For finance 101 we will be talking about credit scores.

Full disclosure, the following is a sponsored promotion for Locumstory.com. But t...

Today we are tackling your questions about retirement accounts. We talk about rolling a 401(k) into and IRA after changing jobs, how to do a 403(b) rollover, and how to pass non discrimination testing for your 401(k) as business owners. We answer a question about rebalancing your portfolio and cover some taxable account questions as well.

Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow,...

Today we are talking with a 4th year med student who is graduating medical school with a positive net worth. He and his spouse are financially educated and have worked hard to prepare, save money, and use what they have wisely. His spouse has a great job and they had a windfall that both helped make a big difference in their financial life. He shared the wise words that lucky circumstances won't do much for you if you are not prepa...

Today we are answering your tax questions. We discuss tax liability in retirement, social security tax limits, tax gain harvesting in UGMA accounts and maximizing tax in retirement. Then we answer a few estate planning questions. The first is around if it is important to avoid probate and then talk about SLAT trusts.

Laurel Road is committed to serving the unique financial needs of residents and doctors. We want to help make your m...

Today we are talking with a PGY2 who has saved up six months of emergency funds. He has an impressive savings rate of around 35% and shows us that you can still make progress in your financial life even while you are still in training. Get financially educated, make sound financial choices, live within your means and you will be ready to hit the ground running as an attending. After the interview we will be talking about finances i...

Today we are talking all about insurance. We answer a few questions about tail coverage. We talk about annuities and whole life insurance and yet again encourage you all to avoid these products. We also have a short interview with a doc who has found himself working in the insurance world. We then answer a question about mortgages and the implication of property tax and home insurance.

As you prepare your taxes this season, you mig...

This Engineer and Surgeon couple have become millionaires just a short time after she completed training. They hit this impressive milestone before she even began practicing. They have a very impressive savings rate and were building wealth while she was in training and he was working as an engineer. They lived off of his income and saved hers while she was in residency. Their next financial goals are to reevaluate their savings pl...

Today we are answering your retirement account questions. We talk about Roth IRAs and the pro rata rule, we talk about self directing your solo 401(k). We discuss 457(f)s and 457(b)s. We talk about when to do Roth contributions and 401(k) contribution limits and more!

Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers savings accounts,...

Today we are chatting with a psychiatrist who is back to broke. He said he owes his financial awakening to his wife who and his medical school friends who introduced him to WCI. He quickly turned things around and started saving an emergency fund and opened a Roth IRA. He is working towards PSLF and is currently saving for a down payment while also investing and growing wealth. His biggest piece of advice is to have a great partner...