WCI #437: Getting Your Work Benefits Right

Sep 18, 2025

In this discussion, Don Wenner, the founder and CEO of DLP Capital, shares insights on employee stock ownership plans and selecting crucial workplace benefits like disability insurance. He delves into the tax implications of these choices and explains fixed deferred annuities, also known as MYGAs/SPDAs. Wrapping up, he offers practical advice on private real estate investing and highlights DLP's mission in affordable housing, lending options, and fund performance. It's a mix of finance and investing wisdom that can help you maximize your work benefits.

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ANECDOTE

Quick Telemedicine Visit Example

James Dahle recounts a six-minute telemedicine appointment with his endocrinologist.
He values telemedicine for efficiency and paying for expertise, not clinic time.

ADVICE

Negotiate Or Minimize Participation In ESOPs

If an ESOP offer seems poor, minimize contributions and demand details from management.
If it's objectively bad for all doctors, organize colleagues to negotiate or end the plan.

INSIGHT

Beware Concentration Risk With ESOPs

ESOPs concentrate risk because your retirement and job tie to one company's fate.
If given company stock, diversify ASAP and limit exposure to around 5% of your portfolio.

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Today we are answering a variety of questions including how to understand and select employee stock ownership plans. We talk about things to think about when signing up for benefits at work including selecting disability insurance and the tax implications of that. We answer a question about a specific type of insurance called an SPDA. We end the episode with a question about private real estate funds and a discussion from our friends at DLP Capital.

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The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. 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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00:00 WCI Podcast #437 04:00 Employee Stock Ownership Plans (ESOP) 09:24 How to Tax Disability Benefits 12:52 Single Premium Deferred Annuities 19:55 Don Wenner Interview 31:50 What to Do with Cash