White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
Host, Dr. James Dahle, is a practicing emergency physician and founder of the White Coat Investor Blog. Like the blog, the White Coat Investor Podcast, is dedicated to educating medical students, residents, physicians, dentists, and similar high-income professionals about personal finance and building wealth, so they can ultimately be their own financial advisor—or, at least know enough to not get ripped off by a financial advisor! We tackle the hard topics like the best ways to pay off student loans, how to create your own personal financial plan, retirement planning, how to save money, investing in real estate, side hustles, and how everyone can be a millionaire by living WCI principles. Learn more at http://whitecoatinvestor.com/
Episodes
Mentioned books
10 snips
Nov 2, 2023 • 48min
WCI #339: Dave Ramsey Gives Poor Advice to Unmatched Doc
Explore essential tax strategies for medical professionals, including the impact of investments on taxes and tips for managing estimated payments. Gain insights into the complexities of oil and gas investment, with a focus on tax benefits. Critique Dave Ramsey’s financial advice for student debt relief while discussing loan forgiveness options. Learn tailored investment strategies for young physicians, emphasizing disciplined savings and asset allocation. Finally, understand the vital role of disability and life insurance for doctors.
Oct 30, 2023 • 25min
MtoM #142: Emergency Physician Becomes Multi-Deca Millionaire and Finance 101: Cash Balance Plans
An ER doctor shares his success in building wealth through savings rate. He emphasizes the importance of saving as much as possible and living within your means. The podcast also discusses cash balance plans and the strategy of maximizing retirement accounts for wealth accumulation.
4 snips
Oct 26, 2023 • 25min
WCI #338: Is It Ever a Good Idea to Over Fund a Roth IRA?
The podcast discusses various topics including using 457(b) money for college education, 401(k) rollovers and rebalancing, Roth contributions in peak earnings years and overfunding a Roth IRA. They emphasize the importance of prioritizing retirement savings and following an investment plan, while also discussing alternative ways to fund college. They also touch on tax-deferred and tax-free contributions to retirement accounts, the benefits and drawbacks of overfunding a Roth IRA, and promote the White Coat Investor Champions Program.
Oct 23, 2023 • 19min
MtoM #141: Doctors Pay Off Student Loans Before Even Finishing Training and Finance 101: The Importance of Saving
Hospitalist and Cardiology Fellow couple pay off $400k student loans before finishing training. They discuss disciplined spending, financial literacy, and living in a low-cost area. Emphasize importance of saving, investing, and not inflating lifestyle for building wealth and achieving financial freedom.
23 snips
Oct 19, 2023 • 44min
WCI #337: Entrepreneurship and Angel Investing
Entrepreneurship and angel investing are discussed in this podcast episode featuring Drs Niki Kennedy and Dan Pipitone of Arborhive. They talk about the importance of doctors using their expertise outside of medicine, the challenges and benefits of entrepreneurship, and the risks and rewards of angel investing. They also emphasize the value of clinicians getting involved in innovation and making a difference in small companies through angel investing.
Oct 16, 2023 • 25min
MtoM #140: Vascular Surgeon Lives Like a Resident and Finance 101: Car Insurance
Discover how a vascular surgeon achieved financial milestones by living like a resident. From paying off student loans to buying cars with cash and maxing out retirement accounts, she shows that growing wealth doesn't require a high income. Stick around for a finance 101 discussion on car insurance, including the importance of increasing liability coverage and understanding comprehensive/collision insurance.
15 snips
Oct 12, 2023 • 56min
WCI #336: Asset Protection In Real Estate Investing
Topics include: renting out a property, buying a house, estate planning, home office deduction, long term care insurance tax in California, real estate updates from MLG, asset protection, adding an LLC to a title insurance policy, calculating net worth when buying a house, current state of real estate, real estate investment funds, navigating tax situations in real estate, avoiding real estate scammers, heritage trusts in estate planning, challenges for doctors in California
Oct 9, 2023 • 21min
MtoM #139: Academic Pulmonologist Hits Half Million Dollar Net Worth and Finance 101: Financial Advisors
An academic pulmonologist shares his journey to achieving a half million dollar net worth and taking control of his finances. Topics include firing a salesman financial advisor, building wealth, increasing savings, and the importance of finding a trustworthy financial advisor. The podcast also discusses the speaker's path to financial independence and their work in ICU telemedicine.
7 snips
Oct 5, 2023 • 54min
WCI #335: Solo 401(k) Questions
Topics discussed include: changing from W2 to K1, creating an S-Corp, converting old IRAs to solo 401(k)s, financial advisor recommendations, setting up an S-Corp and determining a fair salary, consolidating multiple solo 401(k) plans, investment advisor disclosures and fee structures, hourly and retainer models for financial planning, asset allocation and value vs. growth stocks, portfolio construction and financial planning, and the need for a backup plan in managing finances.
Oct 2, 2023 • 23min
MtoM #138: Doc Helps Change His 401(k) Plan and Finance 101: Tax Brackets
A doc shares his journey of advocating for changes to his employer 401(k) plan, resulting in the addition of after-tax contributions and mega back door Roth contributions. The podcast also discusses the keys to being a successful doctor and maximizing 401(k) contributions. Additionally, it debunked misconceptions about tax brackets and emphasized the importance of understanding the progressive income tax system.
