WCI #404: Real Estate, the National Debt and the Financial Challenges of Building a Practice
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Jan 30, 2025
Dive into the complexities of real estate investments, from 1031 exchanges to leveraging home equity for greater returns. Discover key insights on the national debt and its impact on your financial future, along with smart strategies for starting a new practice. Get practical advice on navigating student loans and harnessing tax benefits by hiring family. Plus, learn about the advantages of scaling from single to multiple rental properties for optimal management. A wealth of knowledge awaits!
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insights INSIGHT
Financial Advisor Types
Three types of financial advisors exist: representatives, fee-based, and fee-only.
People often confuse representatives with fee-only advisors, but their issues differ.
volunteer_activism ADVICE
Choosing a Financial Advisor
Understand how financial advisors are compensated (commissions, fees, or both).
Choose a fee-only advisor if you seek unbiased advice and fair pricing.
insights INSIGHT
Investor Categories
Investors fall into three categories: do-it-yourselfers, validators, and delegators.
Delegators, often misunderstood, need advisors who handle their finances.
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Today we are answering a few real estate questions starting with one about a 1031 exchange and then one about how to determine what qualifies as a "primary home." We then get to hear from our friend Jim Sheils at SI Homes who gives us an update on what they offer and what is new with them. We then change directions and discuss the national debt as well as answer some questions about things to thin about when you are starting a new practice.
Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up to 4.6% APY on their savings accounts, as well as an investment platform, financial planning, and student loan refinancing…featuring an exclusive rate discount for med professionals and $100/month payments for residents. Check out all that SoFi offers at https://www.whitecoatinvestor.com/Sofi *Loans originated by SoFi Bank, N.A., NMLS 696891. Advisory services by SoFi Wealth LLC. The brokerage product is offered by SoFi Securities LLC, Member FINRA/SIPC. Investing comes with risk including risk of loss. Additional terms and conditions may apply.
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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