White Coat Investor Podcast

Dive into retirement account intricacies, like Roth IRAs and the pro rata rule. Learn strategies for self-directing your solo 401(k) and the differences between 457(f) and 457(b) plans. Discover when to make Roth contributions while grappling with contribution limits. Financial guidance for transitioning from residency to fellowship is also covered, focusing on tax-efficient strategies and real estate investments. Patience and education are emphasized for long-term financial success in the medical profession.

A psychiatrist shares his remarkable journey from being deeply in debt to achieving financial stability, all thanks to his supportive wife and friends. He emphasizes the importance of teamwork in reaching financial goals. The discussion also delves into the dangers of chasing recent investment performance, highlighting the need for long-term planning. Listeners learn about the risks of impulsively investing in high-performing stocks and the value of maintaining a diversified portfolio to withstand market fluctuations.

Lisha Taylor, a friend of the show and finance enthusiast, teams up with credit card hacking expert Devon Gimbel, host of the Point Me to First Class podcast. They delve into the art of credit card hacking for travel, particularly for high-income professionals like physicians. Discover strategies to maximize rewards using existing expenses, the importance of understanding financial behaviors, and how to enjoy luxurious travel experiences without accumulating debt. Their personal anecdotes highlight the thrill and accessibility of travel hacking.

An automotive engineer shares their journey to building a six-figure Health Savings Account and attaining a net worth of over $2 million. They emphasize that financial success doesn't require a massive salary but rather a disciplined saving mindset. The discussion dives into optimizing Health Savings Accounts for tax and investment benefits. Listeners learn about the importance of financial independence and working on their own terms, with practical advice for aspiring professionals looking to achieve similar financial milestones.

Explore the intriguing world of iBonds and whether they're still a sound investment choice. Discover the complexities of ASC investments and buffer assets while learning to make savvy asset allocation decisions. Delve into the fascinating dynamics of stock performance over long time horizons, and gain insights on factor investing by comparing small value and large growth stocks. This discussion highlights the importance of diversification and strategic financial planning for high-income professionals.

A dedicated OBGYN shares her impressive journey of taking a five-month maternity leave while growing her wealth by $200,000. She emphasizes the importance of understanding maternity benefits when starting a new job. The conversation also touches on financial planning for expectant parents, navigating paternity and maternity leave policies in medicine, and striking a balance between family life and career. Additionally, listeners learn about Treasury Direct, its benefits, and the intricacies involved in purchasing treasury securities.

Kyle Claussen, an expert from Resolve, delves into the often-misunderstood world of indemnification clauses in physician contracts, warning of potential pitfalls. He sheds light on how these clauses can unexpectedly transfer liability to doctors. The discussion also covers new TSP fund Roth conversion options for military members, explaining their tax benefits. Lastly, they tackle practical advice on student loan repayment and the financial complexities faced by physicians, emphasizing the importance of smart financial planning.

A resident shares his journey of returning to a 'back to broke' status despite early financial support from his parents. He emphasizes the importance of financial education, living frugally, and smart spending. The discussion shifts to transforming a home into a rental property, weighing its pros and cons. Key strategies for managing finances during residency, like tackling student loans, budgeting for weddings, and smart investing, are highlighted, alongside insights on tax implications when selling or renting property.

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!

In this engaging conversation, Dennis, a rural surgeon and Army National Guard major, opens up about his journey back to financial challenges. He emphasizes the importance of work-life balance and shares his experiences with family, farming, and self-actualization. The discussion also dives into his debt management strategies, including navigating student loans and mortgage obligations. Additionally, the podcast explores the nuances of Roth and Mega Backdoor Roth IRAs, providing valuable insights for those looking to enhance their financial futures.