In this engaging discussion, Dr. Gretchen Green, an expert in helping healthcare professionals expand their income through expert witness work, shares her insights. She highlights the financial benefits of side gigs and reinforces how existing skills can be leveraged. The conversation also dives into Mega Backdoor Roth strategies, navigating student loans, and the evolving landscape of Public Service Loan Forgiveness. Listeners gain practical advice for maximizing their financial potential while balancing clinical practices.
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question_answer ANECDOTE
Slow Progress
Jim Dahle spent a month doing physical therapy after a mountain biking accident.
Progress was slow, just four degrees of added range of motion after 21 sessions.
insights INSIGHT
For-Profit Mission
WCI operates as a for-profit to sustain its mission, allowing for employee hires, scholarships, and conferences.
Profit motives create conflicts of interest, especially in online businesses relying on ads and product sales.
volunteer_activism ADVICE
Backdoor Roth Timing
Don't do backdoor Roth IRAs in December to avoid prorated issues.
Do them in January for smoother paperwork and less hassle.
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Today we start out answering a few of your Mega Backdoor Roth questions. Then we move to answering a handful of questions about student loans including if we think the Trump administration is going to get rid of PSLF. We also have friend of WCI, Dr. Gretchen Green, join us for a few minutes to talk about the power of side gigs and increasing your income. Especially if you can use the skills you already have from your training. Dr. Green teaches docs how to boost their income by doing expert witness work.
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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