White Coat Investor Podcast

Today we tackle a few of your questions about 529s. We answer some questions about when you have to pay taxes on your rollover IRA contributions to Roth as well as a question about Mega Backdoor Roths. We talk about structured notes and what the advantages and disadvantages are to saving for minors using a UTMA vs. a parental brokerage. No more wading through dozens of books at the library, scroll...

This dual doc couple got a bit later start getting their finances in order. Once they realized that they had been practicing for around 10 years and they had not built the wealth they anticipated they made some changes and got to work! In only a few years they paid off their mortgage, became multi-millionaires, cash flowed new cars and saved enough to get their kids through college. Now they are s...

Today we are talking to Alexis Gallati of Cerebral Tax Advisors all about controversial, aggressive and often little known tax deductions. We ask her about all kinds of topics and how to execute on them in a way that will not get us into trouble with the IRS. We talk about when they are risky, when they aren't risky and if you should use them or not. Some topics we cover are land conservation ease...

Today we are celebrating this family practice doc cash flowing his dream wedding! This super saver had to get comfortable spending a pretty big chunk of change to bring his and his wife's dream to life. He learned that while saving for your future is crucial it is also important to learn how to spend well and enjoy your money. He worked hard and saved both for the wedding and for retirement at the...

Today we are answering your questions. We talk about capital gains taxes when selling a vacation home, then get into the age old debate about if it is a good idea to buy a house during residency. Dr. Dahle gives advice on things to think about when you are shopping for a new car, then he gives ideas for things to think about when considering buying into a practice. Finally, we answer a few questio...

This pediatric dentist has gotten back to broke and a little beyond. In only a few years out of training her net worth has had nearly a half a million dollar swing. She began her financial literacy journey in college and by the time she completed training she was well versed in how to save and invest and grow her finances. She is also a lovely example of an immigrant family working together and wo...

Today we are talking about physician side gigs. Docs have all kinds of side gigs that make a big impact on their financial life. Today we have 3 guests on the podcast who are going to tell you what they do. Dr. Gretchen Green does expert witness work, Dr. Daniel Smith opened IV clinics, and Dr. Rikki Racela takes medical surveys. There is a huge range of what you can do to bring in extra income wi...

This Psychiatrist paid off a whopping $460,000 in only 2 1/2 years! How did he do it?  He picked up an extra job and worked as much as possible to bring in as much money as he could and ended up putting nearly $25,000 per month towards the debt! He made a handful of mistakes including over spending and stock picking before he learned that there was a better way! His financial awakening happened wh...

Today we have our friend Paula Pant on the podcast. She is one of our Keynote speakers at WCICON24 that you will not want to miss. Today Paula and Dr Dahle cover a whole host of topics including Perma-Bears on the economy, the housing market in 2024 and if you should buy a house now or wait, and even Bitcoin spot ETFs. They also talk about career burnout and how Paula took a year long sabbatical t...

This emergency medicine doc paid off a whopping $315,000 in only 12 months! He and his wife made some aggressive goals during residency to live like residents and work hard to get rid of their loans as quickly as possible. They show us that we can tackle anything we want if we are willing to work hard for it! After the interview stick around for a finance 101 discussion about health insurance in e...

Today is another Friends of WCI episode. Tyler Olson of Olson Consulting joins Dr. Dahle to answer your questions. They talk about paying taxes and if you should use a professional or do them yourself. They discuss medical loans and how taxes work with those. They discuss what to do with an old SEP IRA, if it is ever a good idea to over contribute to a 403(b) and the difference between average cos...

This Neuroradiologist is growing his net worth like crazy. He discovered WCI in training and educated himself on how to reach financial independence. He and his wife had many discussions about how they wanted their financial journey and savings plan to look before getting married. They followed their plan with discipline and had a serious amount of savings by the time he finished training. They li...

Today we are answering your questions! Before we get to those we have a few follow up comments from listeners from episode #345 about DAFs. We talk about the possibility of companies offering DAFs ability to control which charities you can or cannot donate to. Then we get into your questions about saving for intermediate term goals, institutional malpractice policies, how to safely invest in real...

This doc wanted to see big changes made to his 457(b) plan so he got involved with the committee and ultimately helped to make massive changes. He helped to get the 457(b) changed from a single distribution upon retirement or leaving the job to the option of distributions for up to 15 years. This is a HUGE and important change that will mean the difference of thousand and thousands of dollars for...

Today we talk with Dr. Jordan Grumet about how to live a regret free life. Dr. Grumet first read The White Coat Investor's Guide for Doctors back in 2014 and realized that he was already financially independent. This discovery opened his eyes to the fact that he could create more of the life he wanted. He sold his practice and reduced work hours and started spending his time where he really wanted...

This doc made it back to broke only one year out of training. He was diligent about tracking his spending since med school and he attributes much of his success to having a plan and sticking to it. He said he definitely felt the temptation of lifestyle creep once he started seeing his paychecks but reminding himself that sticking to the plan was the best thing he could do for himself and his futur...

Today Dr. Dahle debunks an article recently published titled "Why a ROTH is a Bad Idea (Yes, You Can Lose Money)". You can find that article here: https://lifeandmyfinances.com/investing/why-roth-ira-is-bad   He spends time educating on why ROTH is a fantastic place to put your money and why this article should never have been published. We also answer a few questions about buying houses now that...

Today we are celebrating a milestone we have never discussion on the podcast before. This doc has given more than $1 million to charity! This doc talked about the importance of having an outward focus on others and the positive impact that will have on your life and your career. He shared that sharing his wealth with others has brought him a lot of joy. We hope you find this story as inspiring as...

Today we are talking with Adam Nash, founder and CEO of Daffy . We talk all about charitable giving, the most effective ways to give, what DAFs are and what is unique about Daffy. We get into how to teach your kids about giving and how to make giving part of your life and financial plan and not just something that you do once in awhile. Click here to get $25 when you open and fund an account at Da...

This family nurse practitioner hit a net worth of $250,000 only a few years out of training. This NP served our country and saved a lot of money while he did. He said learning to have delayed gratification has been a huge part of his success. In addition to investing he has purchased a short term rental property and a condo that are adding to his overall wealth. After the interview we will talk ab...

Today we are answering your questions off the SpeakPipe . We talk about structured notes, asset protection, I Bonds, Cash Balance funds, and fees for different investments. We also talk about the importance of keeping your personal information and passwords safe from identity theft. Did you know that the White Coat Investor not only has a podcast and a blog but several books that will help you on...

This doctor paid off $260,000 of student loans only 2 years out of training. Not only did he pay off his loans quickly, he did it despite becoming disabled. This doc suffered a stroke one year ago and had to file for disability and rehab back to health. He had to take time off work and was very grateful to have a solid disability policy. How did he manage all of it? He didn't over inflate his life...

WCI Columnist, pediatrician, and WCICON speaker, Margaret Curtis, joins Dr. Dahle today on the podcast to help answer your questions. They debate the age old questions of pay down debt vs invest as well as if it is better to rent or buy in this market. They answer a workplace 401(k) question and discuss how you know if you are getting good advice at a fair price. Love what you hear on the podcast?...

This doc has paid off $300,000 of student loans only 2 years out of training. He put nearly half of his income towards his loans every month. Not only was he paying big bucks towards his loans but he also started his emergency fund and maxed out a 403(b), 457(b), and invested in an HSA and brokerage account. He became financially literate in med school and the rest is history! Stick around after t...

Today we are talking with Van Carlson of SRA 831(b) Admin all about captive insurance. We talk about who captive insurance is for, how to evaluate a good plan, how much capital a captive should have, and how to set premiums. We discuss how this can be a great risk management strategies with some tax benefits as well as how to avoid a bogus risk pool. There is a lot of great information here on a t...