White Coat Investor Podcast

MtoM #16 - Paid off $260K in 2 years

31 May 2021

Contributed by Lukas

A urologist paid off $260K in 2 years. Making a plan ahead of time to pay off your loans helps you make decisions about where to live and what job to ...

WCI #212: How to be a Coffeehouse Investor with Bill Schultheis

27 May 2021

Contributed by Lukas

In 1998, Bill Schultheis wrote a simple investment book for people who felt overwhelmed by the market. The Coffeehouse Investor inspires readers to fo...

MtoM #15 - Financially Independent Military Periodontist

24 May 2021

Contributed by Lukas

In this episode we celebrate Casey achieving financial independence relatively early on a military salary that ranged from $75-260K/year. He has a $1....

WCI #211: Late Start Retirement Savings

20 May 2021

Contributed by Lukas

Feeling like you are late to starting your retirement savings is a common sentiment. People are not generally as far behind as they think. Second care...

MtoM #14 - Optometrist Pays off 229K in 26 Months

17 May 2021

Contributed by Lukas

Optometrist and Vets seem to have the worst debt to income ratios. But this optometrist developed a hatred for his lenders and crushed his debt. Thoug...

WCI #210: How to Survive and Thrive as a Divorced Doctor

13 May 2021

Contributed by Lukas

25% of physicians will experience divorce. We get questions on the podcast and blog from doctors going through divorce frequently but we have little e...

MtoM #13 - Millionaire Internal Medicine Doctor

10 May 2021

Contributed by Lukas

Teresa and her husband made a plan to live off one income. In 5 years post training they were able to reach millionaire status. There are many roads t...

WCI #209: Travel Hacking with Physician on Fire

06 May 2021

Contributed by Lukas

For FIRE week on the White Coat Investor podcast, we have a guest host, Physician on Fire https://www.physicianonfire.com/credit-cards/ , discussing t...

MtoM #12 - Financially Independent by 31

03 May 2021

Contributed by Lukas

The lower you keep your expenses, the less you need for financial independence, and the quicker you can reach that state. Matt was able to reach finan...

WCI #208: Annuities and Cash Secured Puts in Low Yield Times

29 Apr 2021

Contributed by Lukas

In light of current interest rates and bond yields, should you change your investment strategy? People are wanting to do lots of different things to c...

MtoM #11 - $145K Paid Off in 6 Months

26 Apr 2021

Contributed by Lukas

Dr. Asad's hyper focus on paying off his student loan debt and living like a resident after residency, enabled him pay off his debt only 6 months out ...

WCI #207: The Delusions of Crowds with Bill Bernstein

22 Apr 2021

Contributed by Lukas

Bill Bernstein is one of the smartest people we know in the investing world. Listen to this interview with Dr. Bernstein about his new book, The Delus...

MtoM #10 - Millionaire 5 years Post Residency

19 Apr 2021

Contributed by Lukas

Jacque reached a net worth of a million dollars five years out of training. She practices outpatient internal medicine and is a military doctor with t...

WCI #206: 10 Commandments for Financial Independence

15 Apr 2021

Contributed by Lukas

The White Coat Investor went up into the Mount and out of the burning bush came a finger which engraved on the stone tablets the following 10 commandm...

MtoM #9 - Family Medicine Doc Receives PSLF

12 Apr 2021

Contributed by Lukas

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 w...

WCI #205: Understanding Required Minimum Distributions

08 Apr 2021

Contributed by Lukas

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...

MtoM #8 - $450K Paid Off In 2.5 Years

05 Apr 2021

Contributed by Lukas

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 ...

WCI #204: First Year of Retirement with Physician on Fire

01 Apr 2021

Contributed by Lukas

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 id...

MtoM #7 - Psychiatrist pays off $330K in 3.5 Years

29 Mar 2021

Contributed by Lukas

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 ...

WCI #203: Benefits and Drawbacks of an MSO

25 Mar 2021

Contributed by Lukas

Management service organizations (MSOs) provide a range of administrative and managerial services to doctors. With the trend in practice ownership cha...

MtoM #6 - Millionaire Status - Automatically

22 Mar 2021

Contributed by Lukas

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 he...

WCI #202: Working Together with Your Partner, with Mrs. WCI

18 Mar 2021

Contributed by Lukas

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 wi...

MtoM #5 - Anesthesiologist Pays Off $300K in 2 Years

15 Mar 2021

Contributed by Lukas

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 l...

WCI #201: When to Rent vs Buy a Home

11 Mar 2021

Contributed by Lukas

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 some...

MtoM #4 - Military Pediatrician Pays off $150K in 15 Months

08 Mar 2021

Contributed by Lukas

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...

WCI #200: Vetting Private Real Estate Deals

04 Mar 2021

Contributed by Lukas

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. W...

MtoM #3 - Become a Millionaire with the 1/3 Income Rule

01 Mar 2021

Contributed by Lukas

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...

WCI #199: Asset Protection with Jay Adkisson

25 Feb 2021

Contributed by Lukas

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 a...

MtoM #2 - Pediatric Intensivist gets PSLF with No Hassle

22 Feb 2021

Contributed by Lukas

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...

WCI #198: Where to Save $100K for Private Real Estate

18 Feb 2021

Contributed by Lukas

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...

MtoM #1 - High COLA Family Doc Slays $400K in Student Loans

15 Feb 2021

Contributed by Lukas

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 ...

WCI #197: The Value of Physician Leadership

11 Feb 2021

Contributed by Lukas

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...

WCI #196: Understanding Tax Brackets

04 Feb 2021

Contributed by Lukas

Understanding how the tax brackets work will aid your tax planning and make for more informed, reasonable discussions of tax policy. People don't actu...

WCI #195: Investing Lessons from Christine Benz of Morningstar

28 Jan 2021

Contributed by Lukas

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 ep...

WCI #194: The Backdoor Roth IRA Made Easy

21 Jan 2021

Contributed by Lukas

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 t...

WCI #193: Cure Physician Burnout with Dr. Dike Drummond

14 Jan 2021

Contributed by Lukas

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...

WCI #192: Is Your Financial Plan Reasonable?

07 Jan 2021

Contributed by Lukas

I often tell people having a written investing plan is crucial to their financial success. That requires that the investing plan first be reasonable. ...

WCI #191: Don't Make These 10 Financial Mistakes

31 Dec 2020

Contributed by Lukas

There are 10 big financial mistakes that doctors make. We see these made repeatedly over and over again. If you can avoid these, you're going to have ...

WCI #190: The Next Millionaire Next Door

24 Dec 2020

Contributed by Lukas

We can learn a lot from the research examining how self-made, economically successful Americans became that way. Our guest this week is Sarah Stanley ...

WCI #189: Inherited IRAs

17 Dec 2020

Contributed by Lukas

If you are fortunate enough to inherit an IRA there are some things you should know. Inherited IRAs, also known as stretch IRAs (https://www.whitecoat...

WCI #188: Dr. Rick Hodes, a Life Dedicated to Service

10 Dec 2020

Contributed by Lukas

The work of Dr. Rick Hodes in Ethiopia is inspiring. He is working in an international inter-religious, interfaith, inter-ethnic environment to make t...

WCI #187: How Much Should You Put in a Roth?

03 Dec 2020

Contributed by Lukas

Is there a recommended percentage of your portfolio that should be in Roth accounts when you retire? We are asked this question a lot. People think th...

WCI #186: Pilots are High Income Professionals Too

26 Nov 2020

Contributed by Lukas

The financial pathway of a major airline pilot is remarkably similar to that of a doctor. A lot of people don't realize they make doctor-like incomes ...

WCI #185: Finances in the Great White North

19 Nov 2020

Contributed by Lukas

The Canadian financial system is similar but not quite the same as the U.S. financial system. In this episode we talk about the Canadian retirement sy...

WCI #184: Selling Your Practice to a Private Equity Firm

12 Nov 2020

Contributed by Lukas

It is becoming more and more common for physician groups to be approached by a private equity firm that wants to buy the practice and make them "more ...

WCI #183: Physician Moms and Their Finances

05 Nov 2020

Contributed by Lukas

Our guest today is Dr. Hala Sabry, the founder of the Physician Moms Group on Facebook. Who better to ask about physician moms and their finances than...

WCI #182: Stock Market and Elections

29 Oct 2020

Contributed by Lukas

What general market trends do we see during election seasons? What usually happens if a Republican president wins a second term? What usually happens ...

WCI #181: Evidence-Based Investing with Larry Swedroe

22 Oct 2020

Contributed by Lukas

Practicing evidence-based medicine is important to physicians, looking at data and changing our practice according to it. Our guest in this episode, L...

WCI #180: More Physician Millionaires

15 Oct 2020

Contributed by Lukas

What does it take to become a millionaire? Hear the experiences of seven millionaires in this episode talk about how they did it. You may recall we di...

WCI #179: Financial Changes When You Make Partner

08 Oct 2020

Contributed by Lukas

What changes when you make partner? When you become a partner, you go from being an employee to being an owner. So, there are lots of financial change...

WCI #178: Practicing Medicine in Australia

01 Oct 2020

Contributed by Lukas

What is it like to practice medicine in Australia? Our guest in this episode walks us through the training and practicing of physicians in the land do...

WCI #177: Financial Planning for Children with Special Needs

24 Sep 2020

Contributed by Lukas

Your financial planning after having a child with special needs will be different than you might have otherwise anticipated. In this episode we talk a...

WCI #176: A Public Service Loan Forgiveness Success Story

17 Sep 2020

Contributed by Lukas

I have been asked for several years if any doctors have received public service loan forgiveness. Public Service Loan Forgiveness first became availab...

WCI #175: Fixing Analysis Paralysis

10 Sep 2020

Contributed by Lukas

When faced with making a decision you may find yourself with the inability to act due to overthinking the available alternatives and possible outcomes...

WCI #174: How to Make Seven Figures in Medicine

03 Sep 2020

Contributed by Lukas

In this episode we take a look at the financial life of a physician earning seven figures. I think it will be enlightening because you can compare and...

WCI #173: The Dangers of Robinhood

27 Aug 2020

Contributed by Lukas

Robinhood has been taking the investing world by storm the last few months. I thought it would be worth mentioning a few things about Robinhood on the...

WCI #172: Behavioral Finance with Morgan Housel

20 Aug 2020

Contributed by Lukas

Our guest this week is one of my favorite writers. Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool...

WCI #171: Six Principles of Asset Location

13 Aug 2020

Contributed by Lukas

Asset location is something that is completely missed by a lot of otherwise pretty financially sophisticated people. So I do a deep dive into this top...

WCI #170: Rick Ferri versus Paul Merriman Part 2

06 Aug 2020

Contributed by Lukas

This is part 2 of the lively debate between Rick Ferri and Paul Merriman where we continue the discussion on the pros and cons of factor investing. Se...

WCI #169: Rick Ferri versus Paul Merriman on Factor Investing

30 Jul 2020

Contributed by Lukas

This episode we have Rick Ferri and Paul Merriman on the WCI podcast at the same time for a lively debate on the pros and cons of factor investing. Th...

WCI #168: Retirement Accounts versus Real Estate

23 Jul 2020

Contributed by Lukas

Should you pull money out of retirement accounts or skip investing in retirement accounts in order to invest in real estate? No. With this pandemic an...

WCI #167: You Need a Budget

16 Jul 2020

Contributed by Lukas

You need a budget. Even for a high income earner a budget is a necessary tool. The higher your income, the simpler your budget might be. But the poten...

WCI #166: Is Vanguard Losing Its Status?

09 Jul 2020

Contributed by Lukas

I love Vanguard. I think it is great to have a real mutual fund/brokerage company that is owned by the investors and run at cost. Their low costs and ...

WCI #165: What is Direct Primary Care?

02 Jul 2020

Contributed by Lukas

Direct primary care has been described as revolutionizing primary care in medicine. Our guest in this episode is Dr. Aimee Ostick, a direct primary c...

WCI #164: Why You Should Max Out Your Retirement Accounts

25 Jun 2020

Contributed by Lukas

Maxing out your retirement accounts will make estate planning easier, give you better asset protection, you'll pay less in taxes, all while your inves...

WCI #163: Guide to Physician Disability Insurance

18 Jun 2020

Contributed by Lukas

If you are not financial independent you need to have a disability insurance policy in place. About one out of every five doctors over the course of t...

WCI #162: Are Side Gigs Mandatory for Doctors?

11 Jun 2020

Contributed by Lukas

Do doctors need a side gig? No. But it certainly can ease the stress that comes from changes in your physician income beyond your control, like with t...

WCI #161: Medicine and Finance in Venezuela

04 Jun 2020

Contributed by Lukas

What is it like to train and practice medicine in Venezuela? Dr. Postalian emailed me a while ago saying, "if you are interested in learning about med...

WCI #160: What State is Best for Real Estate Investing?

28 May 2020

Contributed by Lukas

Which states are best for real estate investing? This is like asking which investment is best. You can really only know in retrospect and it'll depend...

WCI #159: Financial Infidelity

21 May 2020

Contributed by Lukas

Financial infidelity can mean many things. I have talked for a long time about the important of being on the same page financially with your spouse. I...

WCI #158: Which Physician Specialty is Best for Retiring Early?

14 May 2020

Contributed by Lukas

If you want to retire early, which specialty would be best to go into? Let's get one thing straight from the beginning, medicine is not a great option...

WCI #157: Tips for Buying and Selling a Practice

07 May 2020

Contributed by Lukas

What should a physician or dentist who wishes to sell their practice know about the process? What mistakes do doctors make in this transaction? What ...

WCI #156: What to do with a Dramatically Lower Income

30 Apr 2020

Contributed by Lukas

During this pandemic many physicians have seen their income dramatically lowered. What can you do when you are faced with a severe pay cut? We have a ...

WCI #155: Malpractice Insurance - Above Policy Limit Judgments

23 Apr 2020

Contributed by Lukas

My risk for an above policy limit malpractice judgment is one in 20,000. A listener asked me how I came up with that number as he is in a different sp...

WCI #154: Bear Market Action Plan

16 Apr 2020

Contributed by Lukas

You are going to face many bear markets in your investing career. Having an action plan to survive a bear market is critical. I go over an important l...

WCI #153: Tax Loss Harvesting

09 Apr 2020

Contributed by Lukas

Tax loss harvesting is an important topic, especially right now. If you have been hemorrhaging money in the markets, like most of us have, you may wan...

WCI #152: Work Life Balance with Tired Super Heroine

02 Apr 2020

Contributed by Lukas

With medical school classes now having slightly more women than men, more physicians are or will be juggling the challenge of being a professional and...

WCI #151: How to Pick a Charity

26 Mar 2020

Contributed by Lukas

Choosing which charities to give to is important. It takes just as much effort to give well as it does to earn, save, invest and spend well. We all kn...

WCI #150: Side Gigs, Women, and Demographic Changes in Medicine

19 Mar 2020

Contributed by Lukas

Medical school classes now have slightly more women than men. In today's episode we talk a little bit about what that means, both for male and female ...

WCI #149: Should I Time the Market?

12 Mar 2020

Contributed by Lukas

Should you try to time the market? No! Why? Because it is very hard to do well over the long term and it introduces significant transaction costs to t...

WCI #148: Finding Balance in Your Life with Dr. Dawn Baker

05 Mar 2020

Contributed by Lukas

Life balance is an important topic as we address physician wellness in the medical community. Why is it so hard for high-income professionals to find...

WCI #147: Being a Finance Buff with Harry Sit

27 Feb 2020

Contributed by Lukas

All of us can become a finance buffs if we are willing to put in the time to learn. Our guest in this episode is proof of that and is a bit of an of a...

WCI #146: The 5-Year Rule for Roth IRA Conversions

20 Feb 2020

Contributed by Lukas

The 5-year rule for Roth IRA Conversions can be confusing because there are two 5-year rules regarding Roth IRAs. We discuss the difference between th...

WCI #145: Faith, Family, and Finance with Rogue Dad, M.D.

13 Feb 2020

Contributed by Lukas

In this episode we are looking at faith, family, and finances through the lens of medicine. Fahd Ahmad, also know as Rogue Dad, M.D. is our guest. See...

WCI #144: Can I Send Money to India?

06 Feb 2020

Contributed by Lukas

The question often comes up about sending money to or receiving money from India. It turns out international gifts of money are not that complicated b...

WCI #143: All About Medical School Loans with Ben White

30 Jan 2020

Contributed by Lukas

Managing your medical school loans is one of the most important first financial steps that a medical school student or resident needs to take care of....

WCI #142: Should You Raid a Roth IRA To Pay Off Your Loans?

23 Jan 2020

Contributed by Lukas

Should you raid your Roth IRA to pay off your student loans? No, I think raiding your Roth IRA for any reason is a bad decision. You only get so much ...

WCI #141: Private Real Estate Access Funds

16 Jan 2020

Contributed by Lukas

This episode we discuss advantages and disadvantages of investing in private real estate access funds. What are the advantages of access funds over sy...

WCI #140: Solving Your Financial Mistakes

09 Jan 2020

Contributed by Lukas

As you become more financially literate, you realize all the financial mistakes that you were making. Some of those mistakes are more challenging to f...

WCI #139: Physician Millionaires - How'd They Do It?

02 Jan 2020

Contributed by Lukas

It is possible for you to retire a millionaire. In this episode I interview 7 of your colleagues who have become millionaires before retirement. They ...

WCI #138: Managing Student Loans and When to Pay for Advice

26 Dec 2019

Contributed by Lukas

There is a huge issue with student loans in our country today. I think it is currently at $1.7 trillion. That is almost half of the annual federal bud...

WCI #137: Inspiration to Crush Your Student Loans

19 Dec 2019

Contributed by Lukas

We want to inspire you to crush your student loans. One of the worst parts of being a doctor, dentist, or attorney is this massive student loan burden...

WCI #136: Taxes on Stock Options

12 Dec 2019

Contributed by Lukas

There are non-qualified stock options and incentive stock options. They are each taxed very differently. A listener joined a startup and was offered s...

WCI #135: Estate Planning with Daniel Kesten

05 Dec 2019

Contributed by Lukas

Daniel Kesten, an estate planning attorney and a speaker at the WCICon 20 in Las Vegas in March, is our guest on this episode. We have a great discuss...

WCI #134: Improve Your Personal Financial Literacy

28 Nov 2019

Contributed by Lukas

This week is continuing financial education week. See more information and resources to get financially literate at https://www.whitecoatinvestor.com/...

WCI #133: What Physicians Need to Know About Contract Negotiation

21 Nov 2019

Contributed by Lukas

A contract is just a vehicle to set expectations. But understanding those expectations is very important. We discuss what you need to know about negot...

WCI #132: Asset Protection Strategies to Secure Your Wealth

14 Nov 2019

Contributed by Lukas

Our guest this episode is an asset protection attorney. See the full transcription here https://www.whitecoatinvestor.com/classic-blog/. A lot of read...

WCI #131: Rules for Business Vehicle Tax Deduction

07 Nov 2019

Contributed by Lukas

Deducting your business vehicle sounds like a great way to lower your tax bill. Unfortunately it is probably not going to be a significant deduction f...

WCI #130: How to Retire Early as a Doctor with the Physician on Fire

31 Oct 2019

Contributed by Lukas

Have you ever dreamed of retiring from medicine in your 40s? In this episode we interview a doctor who actually did retire recently at the age of 43. ...

WCI #129: Helping Family When They are Bad With Money

24 Oct 2019

Contributed by Lukas

Setting financial boundaries with your parents is challenging. These are the people that took care of you for the first 18 years of your life. But tha...