The first is what I call capitalism. Basically, you're capital working for you. Once you acquire enough dollars and put them to work for you, it can really add up to a substantial sum of income. The second form of passive income is when you put in some work up front that later provides a stream of revenue.
Passive Income. "The wealthiest physicians have loads of passive income. They don’t just have like trickling, bubbling streams…they have frothy rivers brimming with passive income." -Dave Denniston
In this podcast Dr. Dahle gives ideas for creating passive income, explains some tax implications, and shares recommendations for entrepreneurship. He also answers listeners questions concerning whether or not to avoid the fees on your HSA by keeping money in the account or to invest it all, Roth IRAs for a non-working spouse, and debt negotiation versus bankruptcy with some solid advice for getting out of debt.
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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 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 is for you!
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