White Coat Investor Podcast

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. If yo...

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...

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. If you're looking to Boost Returns, Lower T...

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...

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! Do you ever find yourself wishing there was somewhere to go to ask your finan...

This dual board certified doc is back to broke. She was in denial for a very long time about her finances and how much debt she had taken on and had the mindset of dealing with it down the road. She finished training with $440,000 of student debt plus some credit card debt and car loans. She said she negotiated her first contract aggressively and has always been a great earner, but she had to lear...

Today we are talking with Dr. Adam Maclauchlan, a family medicine doc who was diagnosed with stage 4 lung cancer. He shares his inspiring story about how he is tackling this disease with a lot of love, grace and faith. He believes that leaning on God, strengthening family and patient relationships, living a healthy lifestyle and reducing stress are critical for overall health and wellness and are...

This family medicine doc shows us the power of living like a resident for a few years. This family has continued to live frugally since training and were able to tackle their student debt and save up for a mortgage. They are now happily maxing out retirement accounts and saving for their future. Paying off the debt was easier than she thought because they didn't inflate their lifestyle. We also le...

Today we are answering your questions off of the speak pipe. We spend some time learning about the 4% rule and what it is and how it works. We answer a few of your questions about the 4% rule, tackle another pay down debt or invest question, another about tax loss harvesting, and one about stock yield enhancement programs and more! If you are finding our podcasts informative and helpful we would e...

This podiatrist paid off his student loans only a few years after training. He shared how freeing it has been to be completely out of debt. He said budgeting, open communication, and living frugally for awhile was critical for paying this off so quickly. He said they were still able to enjoy life and celebrate the little wins along the way including enjoying a nice bottle of wine after every $25,0...

Dr. Dahle chats with Australian pilot, Captain FI, about creating the life you want today and making the most of the time you have. Captain FI walked away from his full time career at 30 and is now working part time in a variety jobs that he enjoys. He shares the impact of losing his mother and how it made him realize what mattered most in life. He is now enjoying spending money on what he values...

This veterinarian shares her journey of graduating with $300,000 of debt and getting her first job making only $28,000 a year, to opening her own business. She realized that while she became a veterinarian because she was passionate about it, she would have to educate herself on finances and make some changes if she wanted to become financially independent. She is now loving owning her own mobile...

Today we are answering all of your real estate questions. We spend a big chunk of time talking about when the right time to invest in real estate is. We discuss how real estate is not necessary to reach your financial goals. We talk about using LLCs for your investment properties, what to do with profits from selling a house, and answer a question about ATM Syndications. No more wading through doz...

This pharmacist turned educator paid off his investment property mortgage. He shares his fascinating story of moving through several different careers before settling into what he does now, teaching. He wrote a successful pharmacology book that made it possible for him to pay off his first of two rental property mortgages and he is on his way to paying off the others. After the interview Dr. Dahle...

Today we are answering a variety of questions from medical students and residents. We talk about the tax benefits of getting married and what to do with a whole life policy that was given to you. We tackle some questions about filling taxes as a med student and whether or not to sell a fully paid off house if you are moving states for residency. We answer a student loan question and give some advi...

This psychiatrist paid off over a half a million dollars of student debt in just over 5 years! Not only has she paid off this massive amount of loans, but bought a house and reached millionaire status. They made sacrifices while they were tackling the loans including living with family for over 3 years. This doc originally planed to go for PSLF but decided against it when a higher paying job oppor...

Today we are talking with our friend Jim Shiels about his book, The Family Board Meeting. Jim is a father of 5 and passionate about helping families have the best relationships they can. He talks about the importance of putting your phone down and having scheduled one on one time with your children as well as weekly dates with your partner. We hope you learn some helpful tips on how to dramaticall...

This two doc couple has created a great plan for getting rid of both of their loans. He is going for PSLF and they just paid off her loans. He said meeting with StudentLoanAdvice.com , refinancing and then having a plan and sticking to it were the keys for tackling these loans quickly. He said they were able to maximize their retirement accounts while paying down the debt. They didn't live exactly...

Today we are answering your questions about investments accounts. We answer questions about UTM accounts and what the tax implications are, how to choose benefit options inside a 401a, whether or not to buy a pension, what to do with your solo 401(k) when starting a W2 job, and of course a Roth 401(k) question and more! I estimate that 80% of doctors need, want, and should use a financial advisor...

This Doc was on the podcast a few years ago to celebrate paying off his student loans. Just a few years later he is back as a millionaire. He said they live below their means and are happy to live a frugal lifestyle. For this doc the point of growing wealth is it gives him the ability to give back to the community. He has a broad investment and savings strategy and is continuing to look for ways t...

Our guest today is Jamil Damji who is a co-host of the BiggerPockets On the Market podcast and the author of How to Wholesale Real Estate: The No Cash Strategy to Build a Scalable Business. He is a co-founder of KeyGlee, which helps real estate investors find properties and is the founder of Astroflipping. He hosted Triple Digit Flip on A&E. Today Dr. Dahle and Mr. Damji get into the details of wh...

This doc just hit $4 million net worth. He has worked to boost his income at every step of his journey to allow for more savings. While he has a high income, he has always valued living fugally and saving as much as possible. His advice to you? Identify your goals, and find a job that can provide enough income to meet those goals. He said to keep expenses low out of residency, and don't over infla...

Today we answer a handful of questions from docs who are interested in, or are currently doing locums. We talk about who locums might be right for and if people with a family can make it works as a career. We answer a few questions about 1099 income and how to structure your retirement savings if you are a 1099 worker, and what to do if you miss the deadline to set up a solo 401(k). We also tackle...

A few years out of residency this couple decided to get serious about their finances. Once they started to look at their finances and the fees they were paying their financial advisor they knew it was time to get a written financial plan in place. They took WCI's Fire Your Financial Advisor course and created a plan that worked for them. They fired their financial advisor and are on their way to f...

Today our guest on the podcast is our friend, James Lange. He is here to talk about his personal experience of having a daughter diagnosed with a disability and then going through the process of making sure she will have the finances in place she needs to succeed even after he and his wife are gone. He shares everything he has learned through the process and we hope this episode will be incredibly...