You have basically hired a commissioned sales agent masquerading as an adviser. Most likely, this adviser's not doing it deliberately. It's that they're ignorant. They don't know about index funds and the importance of keeping costs low. So step number one is to figure out what are you going to do going forward? And you have two good options. One is to get a real financial adviser that offers good advice at a fair price. The second option is to do what lots of white coat investors do, and that is manage your own money.
This episode we dive deep into all things Roth. We give a general review of what Roth is and then answer your questions about the backdoor Roth, different Roth accounts, when the backdoor process won't work, why we hate simple IRAs and more. We also discuss why so many docs are looking into side gigs and FIRE right now. Read the full show notes here: https://www.whitecoatinvestor.com/roth-options-and-questions-279
Did you know that the White Coat Investor not only has a podcast and a blog but several books that will help you on your way to financial independence. These books cover topics such as asset protection and minimizing your taxes to keep more of your hard earned money. They discuss plans for insurance, housing, spending, student loan elimination, investing and estate planning. You can learn how to become a millionaire within 5-10 years of leaving residency and how to invest in a sensible low cost and effective manner with or without the assistance of a financial advisor. There is even a book geared directly toward medical and dental students so you can start optimizing your finances early in your professional journey. Find the book that is right for you at the WCI store at https://www.shop.whitecoatinvestor.com or on Amazon. You can do this and The White Coat Investor can help.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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