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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 stud ...
Sound Investing for Every Stage of Life
Sound Investing for Every Stage of Life
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White Coat Investor Podcast
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MtoM #9 - Family Medicine Doc Receives PSLF
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This doctor knew from the beginning she wanted to go for PSLF and worked the system accordingly. Put in the effort to understand this program and it will work for you. She had $330K in federal student loans forgiven. We discuss the mistakes she made and the lessons she learned in this episode to help those of you on this ten year journey to find su…
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WCI #205: Understanding Required Minimum Distributions
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A lot of people have this fear of required minimum distributions. Understanding how RMDs work is important but you don't need to fear the future taxes. See this post for more information https://www.whitecoatinvestor.com/dont-fear-the-reaper-rmds/ One listener was concerned that they would end up losing money in retirement because not enough time a…
This doctor paid off $450K in student loans in 2.5 years by prioritizing being debt free above all else. Impressive amount of discipline. That amount of debt was incredibly intimidating for Daniel but it feels every bit as good as he thought it would to be free of these student loans. It is possible with commitment, budgeting, and delaying gratific…
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WCI #204: First Year of Retirement with Physician on Fire
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Physician on Fire has been retired from medicine for a year and half. Granted the pandemic kind of screwed up a lot of his plans, but we can get an idea of what this early retirement life looks like. See the full shownotes http://whitecoatinvestor.com/first-year-of-retirement-with-physician-on-fire-podcast-204 We discuss that loss of identity as a …
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MtoM #7 - Psychiatrist pays off $330K in 3.5 Years
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Are you a non traditional med student and think you’ll never be free of those loans? Think again. This psychiatrist finished training at 50 years old and had her loans paid off 3.5 years later. She took the WCI advice to live like a resident to heart. She sees debt as a great evil that keeps people down and is now so relieved to have it gone. See t…
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WCI #203: Benefits and Drawbacks of an MSO
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Management service organizations (MSOs) provide a range of administrative and managerial services to doctors. With the trend in practice ownership changing from ownership to employees, more people will be interacting with MSOs, either as an organization providing administrative services for your practice or as a private equity buyout that acquires …
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MtoM #6 - Millionaire Status - Automatically
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Dr. Cori is a hospitalist worth 2.8 million. She reached millionaire status 5 years out of training. Her secret to success? Automating and tracking her financial life. A key was working with her partner to make some sacrifices early on to reach their goals so they can live like no one else later. Now they have the opportunity to cut back to part ti…
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WCI #202: Working Together with Your Partner, with Mrs. WCI
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Managing finances with your partner can be challenging but it is hard to be successful if you don't learn to do it well. In this episode we discuss with Mrs. WCI how we have learned to work together to strengthen our relationship and our finances through the long pipeline of medical training and on to financial independence. From this episode you w…
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MtoM #5 - Anesthesiologist Pays Off $300K in 2 Years
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Shifting your mindset, creating a plan, and executing that plan will lead to major success. That is what this doctor did to pay off $300K in student loans in just 2 years. With the mindset that you no longer care what other people think, you can avoid the lifestyle creep and reach your financial goals. Learn how to avoid the lifestyle creep https:/…
It is that time of year again when many doctors start asking, should I keep renting or buy a home? Well, truthfully many are asking how can I get someone to loan me money for a home right now? But what we wish they were asking is should I buy a home at all, and if the answer is yes, should I use a doctor mortgage (https://www.whitecoatinvestor.com/…
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MtoM #4 - Military Pediatrician Pays off $150K in 15 Months
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Paying off student loans quickly doesn’t take a high physician size income. It simply requires you to live like a resident for a little bit longer and put large chunks of your extra income toward the loans each month. Working together with her partner, this pediatrician slayed her six figure student loan debt in only 15 months, giving them the free…
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WCI #200: Vetting Private Real Estate Deals
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Real estate is certainly a legitimate pathway to wealth that many people have followed. Our guest in this episode is Peter Kim of Passive Income MD. We dive into your questions about passive income today, especially real estate. See full show notes here https://www.whitecoatinvestor.com/vetting-private-real-estate-deals-podcast-200 . We discuss how…
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How to simplify the Ultimate Buy and Hold and get higher returns
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Listen to Sound Investing on your favorite listening platforms: This is the second podcast in a series of what Paul Merriman thinks are "the most important investment information” the Merriman Financial Education Foundation updates annually. Paul starts with a quick review of the previous podcast, The Ultimate Buy and Hold Strategy Update 2021 rega…
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MtoM #3 - Become a Millionaire with the 1/3 Income Rule
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This millionaire radiologist graduated medical school with a net worth of a bottle of wine and a bicycle. 8 years out of training he was a millionaire. How did he do it? Not with the typical white coat investor portfolio. But we learn there is more than one way to become wealthy. They all start with a high savings rate though. He applied the 1/3 ru…
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WCI #199: Asset Protection with Jay Adkisson
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Attorneys who specialize in asset protection often use a lot of fear in their marketing materials. They want us to feel like we are going to be sued and lose everything. Is this fear appropriate? How much anxiety should a doctor really feel about asset protection? Our guest in this episode is Jay Adkisson, an expert in asset protection. We discuss …
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The Ultimate Buy and Hold Strategy: 2021 Update
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Listen to Sound Investing on your favorite listening platforms: Paul Merriman discusses the 2021 updated Ultimate Buy and Hold Strategy, designed to show why the 10 equity asset classes should be part of a diversified portfolio. This new study uses an expanded base of returns so that all 10 equity asset classes are reflected in the 1970 to 2020 per…
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MtoM #2 - Pediatric Intensivist gets PSLF with No Hassle
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PSLF is real and can be received without major hassles. Dr. Yu is proof! He is a pediatric intensivist who owed $155K when he graduated school and had $182K forgiven ten years later. We discuss why only 2.4% of the people applying are successfully getting PSLF and what you can do to be one of them. Who should go for PSLF? See this post to know if i…
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WCI #198: Where to Save $100K for Private Real Estate
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For medicine and healthcare nationally, it is not good that as physicians, we are tending to abdicate our leadership opportunities. If we refuse to do it, less qualified people are going to take on that role with consequences which we don't necessarily want. In this episode we discuss physician leadership with Dr. Brent Lacey. See the full show not…
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Paula Pant and Paul Merriman: The present and future of investing
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Listen to Sound Investing on your favorite listening platforms: In this fast-paced, fun and educational interview by Paula Pant — the self-described “writer and instigator” behind the weekly podcast, “Afford Anything” — Paul and Paula discuss: Meeting Vanguard founder John Bogle 2 Funds for Life What’s wrong with Target Funds? What’s different abou…
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MtoM #1 - High COLA Family Doc Slays $400K in Student Loans
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Dr. Emily and her partner, both family doctors in a high cost of living area, paid off $400K+ in students loans in really only 4 years after deciding not to go for PSLF. Keys to their success? Refinancing to a lower rate and then budgeting together. By becoming more intentional in their spending and cost conscious in their travel they were able to …
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WCI #197: The Value of Physician Leadership
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For medicine and healthcare nationally, it is not good that as physicians, we are tending to abdicate our leadership opportunities. If we refuse to do it, less qualified people are going to take on that role with consequences which we don't necessarily want. In this episode we discuss physician leadership with Dr. Brent Lacey. See the full show not…
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Which investment portfolio is best for you?
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Listen to Sound Investing on your favorite listening platforms: Of the many mutual fund and ETF portfolios on our website, paulmerriman.com, which of the dozen-plus portfolios is most appropriate for you, given your risk tolerance and need for investment return? The goal of this lively discussion — with Paul Merriman, Chris Pedersen and Daryl Bahls…
Understanding how the tax brackets work will aid your tax planning and make for more informed, reasonable discussions of tax policy. People don't actually grasp how tax brackets work and they routinely overestimate how much they pay in taxes. We think there are four reasons why tax brackets are hard for people to comprehend. Listen to this episode …
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Why I bought GameStop under $10 a share
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Listen to Sound Investing on your favorite listening platforms: Paul Merriman is amazed at the interest in GameStop. People he's known for years and never had an interest in the stock market are getting involved…. only emotionally for most, but for many both emotionally and financially. In this podcast, Paul explains the difference between going “l…
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195: Investing Lessons from Christine Benz of Morningstar
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56:29
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Morningstar has been around for 36 years and is by far the best place to get information about all of the mutual funds available. Our guest in this episode, Christine Benz is the director of personal finance and a senior columnist at Morningstar. She is the author or co-author of five books, including 30-minute Money Solutions, which we will be giv…
Everyone should be contributing to a Roth IRA every year. This is retirement account space that you can't get back. Many of us need to contribute to the Roth IRA through the backdoor, which can be confusing. In this episode we discuss what a backdoor Roth IRA is, steps for successfully contributing to a backdoor Roth IRA, and how to fix errors that…
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193: Cure Physician Burnout with Dr. Dike Drummond
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Burnout is a big risk to your finances. Your fastest path to cash is as a board-certified doctor. We want you to be happily practicing medicine for as long as you would like. Our guest in this episode is Dr. Dike Drummond who we have written about before https://www.whitecoatinvestor.com/using-a-venn-diagram-to-decrease-burnout/ . He has spent the …
I often tell people having a written investing plan is crucial to their financial success. That requires that the investing plan first be reasonable. There are lots of portfolios out there that simply are not reasonable. There is not just one way to invest successfully. If you pick something reasonable and fund it adequately, you are highly likely …
