White Coat Investor Podcast
Episodes
MtoM #25 - Psychiatrist Millionaire
02 Aug 2021
Contributed by Lukas
This psychiatrist has a net worth of 2 million dollars, 7 years out of training, despite living paycheck to paycheck with her 6 figure income, until a...
WCI #221: Beating the New Death Tax with James Lange
29 Jul 2021
Contributed by Lukas
James Lange is a nationally recognized IRA, a 401(k) and retirement plan distribution expert, and the president and founder of the Roth IRA Institute,...
MtoM #24 - Hospitalist and Obesity Medicine Physician Pays off $156K in 5 years
26 Jul 2021
Contributed by Lukas
Jeremiah took a balanced approach to his student loan debt. With a high savings rate you can pay off your loans and invest along the way. Resulted in ...
WCI #220: Financial Priorities as a New Resident
22 Jul 2021
Contributed by Lukas
The point of residency is to learn how to be a good doctor. It's not to try to get rich. But for new residents there are a few financial chores you ne...
MtoM #23 - First Generation Millionaire Physician
19 Jul 2021
Contributed by Lukas
After graduating from medical school in India, this primary critical care physician lived like a resident with a high savings rate and low cost invest...
WCI #219: Financial Priorities as a New Attending
15 Jul 2021
Contributed by Lukas
Becoming a new attending is a complicated time in your financial life. That first year out of training is probably the most important year of your fin...
MtoM #22 - Family Doc Pays Off $230K in 6 years
12 Jul 2021
Contributed by Lukas
It took this doctor 6 years to pay off her student loan debt because she muddled around for awhile before getting tired of the loans and getting more ...
WCI #218: How Much Car Can You Afford?
08 Jul 2021
Contributed by Lukas
"Average Joe" is frequently poor because of his car. For most middle-class Americans, the reason they are not millionaires is sitting in the driveway....
MtoM #21 - Doctor and Nurse Become Millionaires in 5 years
05 Jul 2021
Contributed by Lukas
This couple went from -187K to 1.2 million in 5 years. Their key to success? Budgeting software, You Need a Budget, and following it to a T. In this e...
WCI #217: Practicing Medicine in India
01 Jul 2021
Contributed by Lukas
We have done episodes about what it is like to practice medicine in England, Australia, and Venezuela. Next up is India. With Dr. Raja we discuss what...
MtoM #20 - Psy-Fi MD Millionaire
28 Jun 2021
Contributed by Lukas
This doctor couple went from -500K to millionaire status in 9 years with an income ranging from $200-$500K. What makes this episode different is that ...
WCI #216: Gold Bullion, Subway Franchises, Taxes, and Divorce
24 Jun 2021
Contributed by Lukas
In this episode we answer your questions ranging from gold bullion to Subway franchises. With questions about 401(k)s, UGMA accounts, withholding taxe...
MtoM #19 - Millionaire Status in 5 Years
21 Jun 2021
Contributed by Lukas
A very familiar story in this episode as our guests are an EM doc and teacher turned stay at home mom, very similar to the WCI and Mrs WCI. It took th...
WCI #215: Calculating ROI, Dollar Cost Averaging vs. Lump Sum, UTMA Accounts & TIPS
17 Jun 2021
Contributed by Lukas
This podcast is all about you and what you want to talk about. Today it is investments. How to calculate return on investment? What is the best way to...
MtoM #18 - Cancer Researcher pays off $130K
14 Jun 2021
Contributed by Lukas
After finding White Coat Investor 2 years ago, this physician has felt freed by this continuing financial education. Her debt was an emotional burden....
WCI #214: Will Student Loans Be Forgiven?
10 Jun 2021
Contributed by Lukas
Student loans have been on the back burner for the last year or so, as borrowers have enjoyed 0% interest on their federal loans. There has been lots ...
MtoM #17 - Nurse Practitioner and Pharmacist Millionaires
07 Jun 2021
Contributed by Lukas
$1.2 million change in net worth in the last 6 years with a salary typically less than $200K. This couple reached millionaire status without ever feel...
WCI #213: Rules and Options for Managing Inherited Retirement Accounts
03 Jun 2021
Contributed by Lukas
If you inherited retirement accounts or anticipate leaving retirement accounts to your heirs, it is important to understand the rules and options for ...
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...