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White Coat Investor Podcast

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Hosted by a practicing emergency physician, The White Coat Investor Podcast is a high-yield show that specifically deals with the financial issues facing medical students, residents, physicians, dentists, and similar high-income professionals. This show teaches you to use your high income to escape from your student loans, provide for your family, build wealth, and stop getting ripped off by unscrupulous financial professionals. Learn more at http://whitecoatinvestor.com/

Hosted by a practicing emergency physician, The White Coat Investor Podcast is a high-yield show that specifically deals with the financial issues facing medical students, residents, physicians, dentists, and similar high-income professionals. This show teaches you to use your high income to escape from your student loans, provide for your family, build wealth, and stop getting ripped off by unscrupulous financial professionals. Learn more at http://whitecoatinvestor.com/
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Location:

United States

Description:

Hosted by a practicing emergency physician, The White Coat Investor Podcast is a high-yield show that specifically deals with the financial issues facing medical students, residents, physicians, dentists, and similar high-income professionals. This show teaches you to use your high income to escape from your student loans, provide for your family, build wealth, and stop getting ripped off by unscrupulous financial professionals. Learn more at http://whitecoatinvestor.com/

Language:

English


Episodes

128: Resident Physician Financial Mistakes

10/17/2019
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There are some aspects of finances that are unique to resident physicians. It is really during this time that you are putting on the training wheels and learning to manage your finances before the big money comes in. We interview a resident in this episode and discuss cashflow/budgeting, filling out a W-4, doing Roth or tax deferred retirement accounts when going for PSLF, seeking student loan management advice, disability insurance for a two resident couple, and dealing with an HSA when...

Duration:01:10:01

127: Understanding the Mega Backdoor Roth IRA

10/10/2019
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The Mega Backdoor Roth IRA allows you to contribute an additional amount into an Roth IRA due to the fact that some employer 401k plans allow after-tax contributions. Listen to this episode to see if and how you can take advantage of this opportunity. See the full transcription and links to everything talked about in this episode at https://www.whitecoatinvestor.com/classic-blog/ Our podcast today is sponsored by one of my favorite partner companies, Earnest at...

Duration:01:14:50

126: How to Reduce your Investment Taxes with Phil DeMuth

10/3/2019
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Every doctor and other high income earner wants to reduce their investment taxes. Our podcast guest, Phil DeMuth, is just the man to help you do that. See the full transcription and links to everything discussed in this episode at https://www.whitecoatinvestor.com/ Phil is the managing director at Conservative Wealth Management, LLC, http://phildemuth.com/ where he enjoys working with "high net worth clients and saving them from the depredations of the financial services industry." He is the...

Duration:01:15:44

125: How to Rebalance Your Portfolio

9/26/2019
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See the show notes for this episode at https://www.whitecoatinvestor.com/ One listener asked about how to rebalance his portfolio. A lot of people still get confused about this. He said rather than sell from the oversized asset, and transfer the proceeds to the undersized one, he has always just invested additional funds out of pocket and purchased more of the smaller one. He wanted to know if he was making a mistake. I encourage people to look at their portfolio in its entirety and not at...

Duration:00:47:52

124: Financial Advisors: The Good, The Bad, and The Ugly with Michael Kitces

9/19/2019
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Michael Kitces is the brains behind Nerd's Eye View, https://www.kitces.com/ which I believe is the most widely read website aimed at educating financial advisors in the world. He blogs for advisors who are serious about their craft, the ones who actually view this profession as a calling and want to get better at it. He wants to teach them how to be a more successful advisors and how to serve their clients better with more expertise. He believes that most harm inflicted on clients by their...

Duration:01:18:44

The White Coat Investor Trailer

9/17/2019
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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...

Duration:00:00:40

123: Will the Politicians Cancel your Student Loan Debt?

9/12/2019
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"Aren't all the Democratic candidates going to cancel student loan debt? I'll just wait, because if I pay them back and then they cancel them, I'm out of luck." Now for some of you this might sound crazy but this is the thought process for many people right now. Should people be changing their student loan plan based on the discussion of canceling and forgiving loans that politicians are currently having? We discuss this question in today's episode. But bear in mind presidential candidates...

Duration:00:54:06

122: Frugal Living with the Frugal Physician

9/5/2019
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If you forgot to live like a resident for your first few years as an attending physician, it isn't too late. In this podcast episode I interview Dr. Disha Spath, of the https://www.thefrugalphysician.com/ who did just that. They were stressed about money and making limit progress towards being debt free, so her and her husband made some drastic changes in their life. The result? They paid off $208,000 in student loans in 17 months. How did they do it? Focusing on the big expenses; housing,...

Duration:00:44:58

121: What You Need to Know About Self-Employment Taxes

8/29/2019
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Dealing with self employment taxes can be a little tricky. In this episode I discuss quarterly payments or a way to avoid making them if you have W2 income as well to avoid penalties by being in the safe harbor. Bear in mind, what you pay in advance or what is withheld, may have little to no relationship to how much tax you actually owe. So I discuss what we do in our monthly financial plan to ensure that we have adequate money to pay our tax bill come April 15th. Spoiler - investing your...

Duration:00:44:00

120: Medical Missionary Work

8/22/2019
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Ever thought about doing a medical mission trip? My 15 year old daughter and I went to Honduras this summer to spend a week assisting in a local hospital. This episode I interview her about that trip and what effect the experiences there had on her. I also share an interview I did with an Honduran doctor where we discuss the difference between practicing medicine there versus in the United States. The audio isn't awesome from that interview conducted in the Honduras hospital but you can see...

Duration:01:06:15

119: How to Pay for College with Robert Farrington

8/15/2019
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This episode we interview Robert Farrington, the founder of thecollegeinvestor.com, https://thecollegeinvestor.com/ where he provides lots of information for young investors, for indebted people with student loans, and millennials in particular. Robert, Mr. Money Mustache, and myself started our blogs about the same time, though both of theirs are bigger than mine. His message is about getting out of student loan debt and starting to invest. Whether it's millennials or not, his goal is to...

Duration:00:57:04

118: How Do I Claim a Foreign Tax Credit?

8/8/2019
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If you invest in the total international stock market index you may be eligible for the foreign tax credit. As long as your foreign tax paid is less than $300 single, or $600 married, it is a rather straightforward process. However, once that threshold is breached, the more complicated form is required come income tax time. The good news is if you're doing your own taxes, you're probably using tax software, and it does this all automatically in the background. But for those with higher...

Duration:00:54:43

117: Managing Healthcare Real Estate Properly

8/1/2019
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Our guest is Collin Hart, managing director of ERE Healthcare Real Estate Advisors. His company is a real estate brokerage that specializes in representing physicians in the process of selling and leasing back their practice real estate. In this episode we talk about when a physician should buy vs rent their practice space, properly structuring a lease, and exit strategies surrounding practice real estate. For those who are interested in owning their practice real estate or particularly...

Duration:00:45:10

116: Fix the Car or Buy a New One?

7/25/2019
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I received a couple of questions about cars in the Facebook group https://www.whitecoatinvestor.com/facebookgroup and thought it would be interesting to compare and contrast them. The first one was from a soon to be resident who wanted to know if he should ship his car across the country because he wasn't sure it would survive the cross country drive. It is worth $2000 but needs some repairs to survive residency. There comes a time when you have to admit that a car is "totaled." If it costs...

Duration:00:50:11

115: How to Fix Your Investment Mistakes

7/18/2019
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Unlike our typical shows where we answer questions people have pre-recorded, this episode will be a bit of a back and forth with a listener who had a lot of questions. She is missing one key element that could answer many of the questions she asks in this episode. It is a written investing plan. 95% of people out there are in the same boat. They come to me with a question of, "Should I buy this fund or this fund?" I'm like, "For what? What's the plan? What's the goal?" Without the plan it is...

Duration:01:10:34

114: Should You Start a Group Practice Retirement Plan?

7/11/2019
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Should you start a retirement plan for your office? When is it worth starting? What things should you consider? A practice retirement plan can help with recruitment and retention of employees. But if your employees don't value that it may not be worth starting. Running a group practice retirement plan can be expensive for employers. But once you have employees it is no longer a do it yourself project. It is time to get a pro involved and help run the numbers and decide what plan is right for...

Duration:00:44:53

113: Dare to be Dull with Allan Roth

7/4/2019
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"Always ask yourself, where can your portfolio go wrong? And if you can't come up with lots of different reasons, you probably are too overconfident on it. I want everyone to have an exciting, fun, and thrilling life, I just don't want you to get it from your investments. If you're getting entertainment from your investing you're probably doing something very, very wrong. Your investing should be very, very boring." Allan Roth shares lots of wisdom like this in this episode. Read the show...

Duration:00:55:04

112: The Right Way to Borrow Money From Family

6/27/2019
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A listener asked me how to prioritize loans from their parents. I am not a fan of borrowing money from family. I'd hate to owe money to my parents. Paying that off would be a major priority for me. But if you are still going to do it, remember that when you borrow money from family, you have to pay a reasonable interest rate and it is a good idea to have written terms. We get into more details about borrowing money from family in this episode but don't become debt numb just because you are...

Duration:00:44:56

111: Investing in Airbnb Rentals with David Draghinas

6/20/2019
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Dr. David Draghinas is probably best known in this community for his podcast, Doctors Unbound, https://www.doctorsunbound.com/ where he shares inspiring stories about doctors doing extraordinary things. But in this interview I asked Dr. Draghinas about something extraordinary that he is doing. They converted one of their rental properties to a short term rental, then bought another luxury rental property, and rent both out as short term rentals through Airbnb and VRBO. These properties,...

Duration:01:09:16

110: How Does the US Tax Foreign Investment Income?

6/13/2019
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How does the US tax foreign investment income? Foreign income is taxed as ordinary income on your US tax return. No free lunch here, sorry. The places that are paying higher interest rates are generally expected to depreciate against the dollar. So should you invest in foreign currency trading? Listen to this episode to learn more. Find detailed show notes and links to everything discussed in this episode at https://www.whitecoatinvestor.com/ Remember registration for WCICon20 starts at...

Duration:00:39:19