White Coat Investor Podcast - podcast cover

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investorwww.whitecoatinvestor.com
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

WCI #425: WCICON25 Columnist Panel

Today we are sharing one of our fan favorite sessions from WCICON25. Several of our White Coat Investor Columnists joined Dr. Dahle on stage for a discussion about spending extravagantly. They shared what intentional spending looks like and how their view of extravagant spending has changed over their career. They also answer audience questions live. We hope you enjoy this peek into WCICON with Dr. Tyler Scot t, Dr. Julie Alonso , Dr. Adam Safdi , Dr. Genhee So, and Josh Katzowitz . If you want ...

Jun 26, 20251 hr 6 minEp. 425

MtoM #228: Multiple Milestones on a Moderate Income and Finance 101: Mutual Funds

Today we are talking with Wendel Topper, our audio visual guru here at the White Coat Investor. He is sharing his story of his financial awakening and slowly learning through osmosis after he started working for WCI. In just five years he and his wife have paid off their mortgage, reached a $500,000 net worth, bought a car with cash and so much more. He shows us that even on a moderate income you can crush your financial goals. After the interview we will be talking about mutual funds for Financ...

Jun 23, 202529 min

WCI #424: PSLF, Insurance, and Bonds

Today we are tackling a variety of topics starting off with a few questions regarding Public Service Loan Forgiveness. We talk about looking for disability insurance as a resident and then answer a few questions about bonds. We wrap up with a question about calculating how much money you need for retirement. Today’s episode is brought to us by SoFi , the folks who help you get your money right. Paying off student debt quickly and getting your finances back on track isn't easy, but that’s where S...

Jun 19, 202545 minEp. 424

MtoM #227: Orthopedist Becomes a Millionaire 7 Years Out of Training and Finance 101: Leverage

Today we are talking to an orthopedic surgeon who has reached a net worth of $2 million. He read the White Coat Investor book in residency and decided he wanted to be a millionaire by 40. He has done that and more. Not only has he worked hard to save and invest but has jumped into several side hustles to grow his wealth, including creating a real estate empire of his own. After the interview we will be talking about leverage for Finance 101. Southern Impression Homes takes owning rental property...

Jun 16, 202536 min

WCI #423: Rollovers, Roth, and Investing

Today we are back to our most asked about topic: Roth. We answer a question about rollovers, then we talk about Mega Backdoor Roth and then the regular backdoor Roth and the pro rata rule. We then switch gears and talk about high yield dividend funds and answer a question about asset allocation and asset location. We end the episode talking about what to do if you are averse to the S&P500 including Coinbase. Laurel Road is committed to serving the unique financial needs of residents and doct...

Jun 12, 202548 minEp. 423

MtoM #226: Family Doc and PT Pay Off Student Loans and Finance 101: Debt vs. Investing

Today we are talking with a family doc and a physical therapist who have paid off all of their student loans just a few years out of training. Their secret to success was creating a financial plan and sticking to it. They lived like residents and put everything they could to loans. They are both extremely debt averse and just wanted to pay their loans off quickly even if they could have gotten forgiveness over time. Their advice to you is to really negotiate your contract, financially educate yo...

Jun 09, 202529 min

WCI #422: Parents, Children, and Relationships When Money Gets Involved

Today we are answering questions about finances and family members. We talk about when it is the right time to kick your kids of your car insurance, what to do when you are supporting your parents financially, how the gift tax works when your parents are giving you an early inheritance, what to do when you have a wildly overfunded 529 and lots of other questions that have to do with parents, children and relationships when money gets involved. We’re halfway through the year, and while vacation m...

Jun 05, 202552 minEp. 422

MtoM #225: Couple Leverages a Dental Practice to Reach Financial Independence in 9 Years and Finance 101: FIRE

Today we are talking with a highly motivated couple that has reached financial independence in their mid thirties. They did all of this in less than 10 years since training. She is a dentist and he is in business and they leveraged their knowledge to build a thriving dental practice. They save upwards of 80 - 90% of their income and have known since they finished training that they wanted to get to FIRE. They love the freedom and the choice that is now available to them. After this inspiring int...

Jun 02, 202523 min

WCI #421: Finding Joy in Your Work with Dr. Cory Fawcett

Today we are talking with our friend, Dr. Cory Fawcett. Dr. Fawcett is an author many times over and has another great book newly published called A Doctor's Guide to Finding Joy in Your Work. We know how prevalent burnout can be and Dr. Fawcett has some great advice for how to not only avoid burnout but to find real joy in what you do. He practices what he preaches and we hope this conversation inspires you and gives you some practical advice you can bring into your life and your practice. Toda...

May 29, 202559 minEp. 421

MtoM #224: CRNA Hits Half a Million Dollars and Finance 101: Investing Cash

Today we are talking with a CRNA who has reached a net worth of a half million dollars. She has followed the White Coat way and lived frugally and saved a healthy portion of her income and has watched her wealth grow over time. She has a supportive partner who has always been on the same page. After the interview we will be talking about investing cash for Finance 101. Doc2Doc is a lending solution built by doctors, for doctors, offering tailored financial products to support every stage of a ph...

May 26, 202521 min

WCI #420: Due Diligence on Real Estate Deals

Today we are answering some of your real estate questions starting with how to know if a deal is too good to be true and as well as the importance of doing thorough due diligence before investing in any real estate deal. We talk about all in one loans for mortgages and then answer some questions about variable universal life insurance and annuities. We also hear from our friends at Black Swan Real Estate. Today’s episode is brought to us by SoFi , the folks who help you get your money right. Pay...

May 22, 202547 minEp. 420

MtoM #223: ER Doc Gets His Finances in Order and Finance 101: Donor Advised Funds

Today we are talking with an ER doc who is celebrating getting his financial life in order. He shares his journey of hiring a trustworthy financial advisor and realizing how much he didn't know. He had a general understanding of what he should be doing to build wealth but found he was grateful to have someone help set him up for success. He added that it was exciting to realize how simple it can be to grow your wealth once he had the proper education. He is now on his way to being work optional ...

May 19, 202527 min

WCI #419: Getting to Know Jim: His Past, Present, and Future Relationship with Money

Today we are turning the tables and Dr. Dahle is being interviewed by our friend of WCI, Dr. Tyler Scott. We turn away from our usual pattern of answering technical questions and instead Tyler asks Jim about his views of money growing up, lessons he has learned along the way and how he views money now. We talk about his upbringing and raising his own children. We talk about what it means to have enough and how you know when you do. Today's interview will give you a little peek behind the curtain...

May 15, 202553 minEp. 419

MtoM #222: Engineer and Medical Student Hit Half Million Dollar Net Worth and Finance 101: Different Ways to Pay for Medical School

Today we talk to an engineer who has reached a half million dollar net worth. Her husband is a medical student at the Uniformed Services Medical School and she is six years out of training. She talked about being a finance enthusiast since she was young thanks to her dad who taught her about finance. She had a custodial Roth account as a kid and he helped her get investing at Vanguard in college. She said her and her spouse had great conversations before marriage about how they want their financ...

May 12, 202522 min

WCI #418: Get Your Tax Bill Down

With tax season just ended we have gotten a lot of questions about taxes. Today we are tackling those questions. We talk about tax loss harvesting, tax implications for changing your 529 beneficiary, gift tax rules, tax withholdings, the home office deduction and more. Today’s episode is brought to us by SoFi , the folks who help you get your money right. Paying off student debt quickly and getting your finances back on track isn't easy, but that’s where SoFi can help — they have exclusive, low ...

May 08, 202548 minEp. 418

MtoM #221: Pharmacist Builds a Real Estate Empire and Punches Out in 10 Years and Finance 101: 529s

Today we are talking with a Pharmacist who has reached FI in his 30s. While his career has been in pharmacy he was always committed to building a big real estate portfolio. He bought his first property at 23 and has continued to grow it since that time and is now making roughly $50,000 per month from rental income. He retired from Pharmacy last year and is now focused only on his real estate portfolio. He got into real estate for financial freedom and the ability to create the life he wants. Des...

May 05, 202525 min

WCI #417: Get Rich Fast as a Millionaire with Roth Conversions

Today we are talking with our friend and Roth expert, Chris Davin. He is joining us to answer some of your questions and then get way into the Roth weeds with Dr. Dahle. Chris knows more about the intricacies of Roth considerations than anyone we know. They discuss when to choose Roth and why, mega backdoor Roth, choosing Roth as an independent contractor and so much more! Brought to you by Laurel Road for Doctors . Laurel Road is committed to serving the unique financial needs of residents and ...

May 01, 20251 hr 34 minEp. 417

MtoM #220: Family Physician Millionaire Receives PSLF and Finance 101: Long Term Bonds

This family doc has all kinds of milestones to celebrate. He recently received PSLF, his net worth just exceeded $1 million and he is almost to $1 million invested. He is crushing the finance game. His secret to success is side gigs, side gigs, side gigs! He knows how to hustle and had the benefit of having his financial awakening during training so he could hit the ground running when he became an attending. For finance 101 we are talking about long term bonds. This podcast is sponsored by Bob ...

Apr 28, 202523 min

WCI #416: HSAs, FSAs, and Malpractice Insurance

Today we answer a handful of HSA and FSA questions including what to do when you contribute incorrectly and what to do when you have problems with reimbursement for medical spending. We answer a question about calculating equities. We also do a deep dive into malpractice insurance with information about lizard tails, veto clauses and hammer clauses. Today’s episode is brought to us by SoFi , the folks who help you get your money right. Paying off student debt quickly and getting your finances ba...

Apr 24, 202528 minEp. 416

MtoM #219: Veterinarian Gets Back to Broke in 10 Months and Finance 101: Mutual Funds

Today we hear from a Veterinarian who is back to broke only 10 months out of training. This vet lives in the midwest and really shows what geo arbitrage can do. He has a fantastic income and a very low cost of living and those two things make a huge impact on finances. He has paid off almost all of his student loans and has saved for a down payment at the same time. His frugality, smart decisions, and hard work has made all of this possible. Using those skills will ensure that he will be financi...

Apr 21, 202521 min

WCI #415: The Radiologist Next Door Takes a Year Off

Dr. Dahle's good friend, Dr. Matt Morgan, joins us on the podcast today. Dr. Morgan just completed a one year sabbatical that was all about living intentionally and creating the life he wants now, not after retirement. Matt talked about his desire to be able to say yes to the things he loves any time he wanted to. He and his family spent time at home as well as traveling to New Zealand and all over Europe. He is a great example of not necessarily needing to reach FIRE to travel and take time off...

Apr 17, 20251 hr 16 minEp. 415

MtoM #218: CRNA Becomes a Retirement Account Millionaire and Finance 101: Tax Strategy

Today we are talking with a CRNA who has become a millionaire! She is 18 years out of training and now has more than a million dollars in retirement accounts. Her story is a great example that if you just keep saving, and you keep increasing your income, and give it time, you will become a millionaire. You don't have to do anything fancy. She recommends that you really advocate for yourself to get paid what you deserve. Increasing her income has made a huge impact on how much she could save. She...

Apr 14, 202520 min

WCI #414: Roth IRAs and 401(k)s

Today we are answering more of your Roth IRA and 401(k) questions. We talk about the difference between Roth and Traditional IRAs and then answer a question about Roth IRAs for your kids. We talk about some things to think about when changing your business 401(k) plan administrator and then explain what to do if you over contribute to your 401(k). Today’s episode is brought to us by SoFi , the folks who help you get your money right. Paying off student debt quickly and getting your finances back...

Apr 10, 202556 minEp. 414

MtoM #217: Ophthalmologist Overcomes Financial Mistakes and Finance 101: Career Longevity

Today we are talking with a doc who is celebrating getting back on track after some financial mistakes. He made the same mistake so many of us have and ended up with a bad financial advisor. His advisor sold him a disability policy that was overpriced and not a good product. Once he had his financial awakening he realized he could do this on his own. He fired his advisor and dropped the crappy policy. He took on his student loans in a new way and got rid of those too. He talked about the process...

Apr 07, 202520 min

WCI #413: Optimizing Your Career for Longevity with Rob Orman

Today we are talking with Dr. Rob Orman. Dr. Orman is a writer, podcaster and coach. He is an emergency medicine doc who now works with physicians to build resilience, overcome burnout, and reconnect with meaning and purpose in their work. In this conversation we discuss side gigs and the impact they can have, we talk about the incredible power of mindset, we talk about burnout and so much more. Financial Waterfalls for New Residents and Attendings: https://www.whitecoatinvestor.com/financial-wa...

Apr 03, 20251 hr 17 minEp. 413

MtoM #216: Two Doc Couple Gets Back to Broke While Raising Kids in New York City and Finance 101: Mortgages

Today we have a two doc couple on the podcast who are back to broke. This couple lives in NYC, has two young children and had nearly $1 million in student loans at the end of training. They have worked hard to get on the same page, save and build wealth, and still have fun living their lives in the process. They talked about the need to know what you care about and what you don't. They care more about travel than a fancy expensive apartment. Knowing what you value is critical. After the intervie...

Mar 31, 202528 min

WCI #412: Toxic Work Environments, Avoiding Burnout, and Real Estate Questions

Today we start out by talking about what to do when your work place turns toxic and how to protect yourself from bad employers and from losing your job. The truth is sometimes you might just have to go find a new job. The biggest risk to the longevity of your career and becoming financially independent is burnout. If you hate your job, you are at great risk of burnout. We also answer some questions about real estate around buying into your building, 1031 exchange details, and if it is a good ide...

Mar 27, 202538 minEp. 412

MtoM #215: Dentist Pays Off HPSP Contract and Finance 101: Credit Scores

Today we are talking with a dentist who is completing his HPSP contract. He shares with us the positives and the negatives of his four year contract. He said he definitely came out ahead financially going this route and he is very excited to complete his contract and move forward with his career. For finance 101 we will be talking about credit scores. Full disclosure, the following is a sponsored promotion for Locumstory.com . But the weird thing here is there’s nothing they’re trying to sell yo...

Mar 24, 202528 min

WCI #411: 401(k)s, IRAs, 403(b)s, and other Retirement Account Questions

Today we are tackling your questions about retirement accounts. We talk about rolling a 401(k) into and IRA after changing jobs, how to do a 403(b) rollover, and how to pass non discrimination testing for your 401(k) as business owners. We answer a question about rebalancing your portfolio and cover some taxable account questions as well. Today’s episode is brought to you by SoFi , helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers savings a...

Mar 20, 202556 minEp. 411

MtoM #214: Medical Student Finishes School with a Positive Net Worth and Finance 101: Buying a House During Residency

Today we are talking with a 4th year med student who is graduating medical school with a positive net worth. He and his spouse are financially educated and have worked hard to prepare, save money, and use what they have wisely. His spouse has a great job and they had a windfall that both helped make a big difference in their financial life. He shared the wise words that lucky circumstances won't do much for you if you are not prepared to act. For finance 101 we are talking about buying a house d...

Mar 17, 202537 min
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