Categories
Financial Planning For Doctors

2021 Financial Book Review – A Deep Dive by The White Coat Investor [Video]

In this video The White Coat Investor does a Deep Dive into the Financial Books You Should Be Reading For 2021.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Subscribe Here: https://www.whitecoatinvestor.com/youtubeMain Website: https://www.whitecoatinvestor.comStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 2021 Financial Book Review00:20 Financial Freedom RX01:14 The Family Board Meeting02:35 The Hands Off Investor04:23 Beating The New Death Tax05:28 Retire Secure For Professors06:18 Building An Elite Organization07:02 Stay In Medicine08:47 The EXITpreneur’s Playbook09:29 2 Funds For Life10:48 Own Your Freedom11:58 PharmD to MD12:37 You What?13:46 Your Encore15:07 Your Total Wealth

Categories
Financial Planning For Doctors

MtoM Podcast #44 – Back to Broke Oncologist [Video]

We are celebrating this oncologist who got back to broke 6 months out of training. He went from a net worth of $-128K to $+210K net worth in 1.5 years. Getting back to broke as a physician is a big deal! He discusses his “lifestyle inoculation” that helps them purposely spend their money to bring them happiness. Being so intentional in their spending has allowed them to build wealth quickly. You can be intentional too with your spending. See how to avoid the trap of lifestyle creep here. https://www.whitecoatinvestor.com/how-to-avoid-the-traps-of-lifestyle-creep/A lot of physicians have questions about locum tenens, and https://locumstory.com is the place for them to get real, unbiased answers to those questions. Basic questions like, “What is locum tenens?” to more complex questions about pay ranges, taxes, various specialties, and how locum tenens works. And then there’s the big question: is it right for you? Go to https://locumstory.com and get the answers.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestonesMain Website: https://www.whitecoatinvestor.comStudent Loan Advice: https://studentloanadvice.comYouTube: https://www.whitecoatinvestor.com/youtubeFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Introduction01:34 Interview w/ David04:24 Back To Broke08:18 Lifestyle Inflation11:36 Advice For Others14:40 Wrap Up

Categories
Financial Planning For Doctors

Is Fellowship Worth It? – The White Coat Investor – Financial Literacy 101 [Video]

The decision on whether or not to pursue Fellowship is not, or at least should not be, primarily financial.Of course, if you love occupational medicine and plastic surgery equally, you should be a plastic surgeon, but I think those types of situations are rare.The truth is that the best financial decision you can make with regards to career, specialty, subspecialty, and type of practice is to choose the one that you can do the longest. Even if it pays a little less or it takes a little longer to get there, you’re going to come out ahead.Avoiding early burnout is pretty important financially.What a lot of people don’t realize, is that doing a fellowship doesn’t usually increase your income. Obviously, there are exceptions, but they are just that—exceptions to the general rule.So if you’re trying to justify a fellowship for financial reasons (and you shouldn’t), be sure that:1. The subspecialty is actually paid significantly more than the specialty2. The subspecialty isn’t going to force you into an academic role Make the decision to do a fellowship primarily on non-financial factors.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Main Website: https://www.whitecoatinvestor.comYouTube: https://www.whitecoatinvestor.com/youtubeStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Is Fellowship Worth It?00:20 Longevity Is Key00:49 The Downsides

Categories
Financial Planning For Doctors

MD MBA – Is It Worth It? – The White Coat Investor – Financial Literacy 101 [Video]

An MD/MBA is joint program where students receive both a Medical Degree and a Masters of Business Administration Degree upon completion. These programs focus on integrating standard medical training with managerial, financial and technical expertise. MD MBA Programs typically take five years to complete.The medical field is a constantly evolving and growing industry that not only requires healthcare knowledge but also business knowledge. As the healthcare industry continues to change by way of care packages and insurance policies for patients, many doctors are seeking to learn the same business knowledge and skills that MBA graduates learn. In a trillion dollar industry having some sort of knowledge about accounting, investing, and marketing is more than helpful especially for physicians looking to start their own practice.MBA graduates looking to enter the medical field will find that there is a huge demand for their services, especially for administrative positions. There are many different opportunities for business graduates to enter the field from consulting to financial managers.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Main Website: https://www.whitecoatinvestor.comYouTube: https://www.whitecoatinvestor.com/youtubeStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 MD MBA00:25 You Need Business Knowledge01:02 The Downsides

Categories
Financial Planning For Doctors

Buffered ETFs vs High Yield Savings Accounts – Which Is Better? YQA 238-3 [Video]

In this video we’re answering the question “Buffered ETFs vs High Yield Savings Accounts – Which Is Better?” The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted.To get your questions answered by The White Coat Investor, visit https://www.whitecoatinvestor.com/YQA and record your question.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Subscribe Here: https://www.whitecoatinvestor.com/youtubeMain Website: https://www.whitecoatinvestor.comStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Buffered ETFs00:40 What Are Buffered ETFs?01:12 Risk vs Reward01:45 Return OF Principal03:00 Beware The Salesman!

Categories
Financial Planning For Doctors

WCI Podcast #240 – Asset Allocation Q&A [Video]

Today we answer your questions about asset allocation. We start off with some basic principles that everyone should understand and then dive into more specific questions. We discuss what glide path allocation is and how your asset allocation needs change as you age. We talk about asset allocation when using a defined benefit plan and also cover some pros and cons of treating your mortgage as a negative bond and how that affects your asset allocation. See our asset allocation rules here https://www.whitecoatinvestor.com/asset-allocation-rules/Gain the expertise to manage the business of medicine with the Physicians Executive MBA at Auburn University’s Harbert College of Business. Auburn’s flexible, physicians-only program lets you earn your MBA without taking you away from your patients. Auburn’s unique 21-month program blends innovative distance learning with five short on-campus residencies. Tailored to the practicing physician, Auburn’s Physicians Executive MBA program is currently enrolling for Fall 2022. Take control of your future during these challenging times. Learn more at http://au-pemba.comThe White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Main Website: https://www.whitecoatinvestor.comYouTube: https://www.whitecoatinvestor.com/youtubeStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Introduction00:32 WCI Resources02:49 Asset Allocation Principles05:50 Glide Paths11:08 Asset Allocation As You Age15:47 Defined Benefit Plans19:57 VNQ – Real Estate Index Fund23:26 Rebalancing27:33 Interview w/ Jilliene Helman RealtyMogul43:00 Adding A Utilities Index?46:54 Wrap-Up

Categories
Financial Planning For Doctors

MtoM Podcast #43 – Doc Dumps Whole Life Policy And Becomes Millionaire [Video]

This doctor followed advice of WCI to navigate complexities of a 1035 exchange, and recovered from many poor insurance products he was sold. Only 2 years after becoming financially literate he reached millionaire status, proof you can recover from financial mistakes and achieve success fairly quickly. Check out the 10 biggest Financial Mistakes Physicians Make & How to Avoid Them https://www.whitecoatinvestor.com/stupid-doctor-tricks-biggest-financial-mistakes/This podcast is sponsored by Bob Bhayani at https://drdisabilityquotes.com. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://drdisabilityquotes.com today by email info@drdisabilityquotes.com or by calling (973) 771-9100.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestonesMain Website: https://www.whitecoatinvestor.comStudent Loan Advice: https://studentloanadvice.comYouTube: https://www.whitecoatinvestor.com/youtubeFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Introduction01:23 Interview w/ Rikki04:24 Millionaire Status10:24 1035 Exchange Whole Life Policy14:49 Advice For Others17:44 Wrap Up

Categories
Financial Planning For Doctors

How Do I Rebalance My Portfolio? YQA 237-1 [Video]

In this video we’re answering the question “How Do I Rebalance My Portfolio?” The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted.To get your questions answered by The White Coat Investor, visit https://www.whitecoatinvestor.com/YQA and record your question.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Subscribe Here: https://www.whitecoatinvestor.com/youtubeMain Website: https://www.whitecoatinvestor.comStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Rebalancing Your Portfolio00:22 Use New Money01:12 Sell In Retirement Accounts01:46 Rebalance Every 1-3 Years

Categories
Financial Planning For Doctors

Short Term Investing – How To Invest Money You’re Saving For A Purchase YQA 235-2 [Video]

In this video we’re answering the question “Short Term Investing – How To Invest Money You’re Saving For A Purchase?” The White Coat Investor wants to help you stop doing dumb things with your money, so in this video series we answer questions you have submitted.To get your questions answered by The White Coat Investor, visit https://www.whitecoatinvestor.com/YQA and record your question.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Subscribe Here: https://www.whitecoatinvestor.com/youtubeMain Website: https://www.whitecoatinvestor.comStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Short Term Investing00:23 Investing Your Savings01:29 Liquidity02:33 Risk Of Loss03:47 Consequences Of Loss

Categories
Financial Planning For Doctors

MtoM Podcast #42 – Back to Broke as a Resident [Video]

This second year anesthesiologist resident and nurse partner are already back to broke. With a salary of $90K they have been investing and paying off debt. What are their secrets to success? Being born into geographic arbitrage has definitely helped. Continuing to take advantage of that by doing med school and residency in a low cost of living area and keeping the loans down to $125K helps also. As well as making sure they are spending money in alignment with their goals. Live like a resident https://www.whitecoatinvestor.com/live-like-a-resident/ and you can get back to broke and soon be debt free and on your way to millionaire status too. It is time to check whether your current tax plan is truly tax-efficient to make sure you’re keeping more of your hard-earned money in your pocket! If you haven’t heard about Cerebral Tax Advisors, physicians all over the country work with them to lower their personal and business taxes through court-tested and IRS-approved tax strategies. Medical professionals rely on Cerebral Tax Advisors for proactive planning strategies that help them lower their effective tax rate and increase their wealth. Alexis Gallati, founder of Cerebral Tax Advisors, has nearly two decades of experience in high-level tax planning strategies and multi-state tax preparation. She’s also the author of the book “Advanced Tax Planning for Medical Professionals”, grew up in a family of physicians, and is married to one. Cerebral’s services are flat-rate and they are focused on their client’s return on investment. If you’d like to find out more or schedule a free consultation, visit their website at https://www.cerebraltaxadvisors.comThe White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Be a Guest on The Milestones to Millionaire Podcast: https://www.whitecoatinvestor.com/milestonesMain Website: https://www.whitecoatinvestor.comStudent Loan Advice: https://studentloanadvice.comYouTube: https://www.whitecoatinvestor.com/youtubeFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Introduction01:21 Interview w/ Collin01:56 Back To Broke04:28 Secrets To Success08:08 Advice For Others11:22 Wrap Up

Categories
Financial Planning For Doctors

How To Protect Against Inflation – The White Coat Investor – Financial Literacy 101 [Video]

Designing a portfolio to counter inflation is really not that hard. I’m a big fan of a fixed asset allocation rebalanced periodically. This forces you to continually buy low and sell high as you rebalance and doesn’t require a functioning crystal ball to be successful.My own inflation-busting portfolio consists of:- 60% Stocks- 20% Real Estate- 20% Bonds- High Stock Allocation- Real Estate- TIPS- I Bonds- Keep the duration of your nominal fixed-income investments short- Commodities & Precious Metals- Currencies- LeverageThe White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Main Website: https://www.whitecoatinvestor.comYouTube: https://www.whitecoatinvestor.com/youtubeStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Countering Inflation00:23 Inflation Beating Asset Allocation01:05 Inflation Indexed Bonds02:03 Other Inflation Hedges

Categories
Financial Planning For Doctors

What Is Inflation? – The White Coat Investor – Financial Literacy 101 [Video]

Inflation is a general increase in prices and thus a fall in the purchasing value of money. In essence, your money is worth less than it used to be. It buys a smaller quantity of goods and services.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Main Website: https://www.whitecoatinvestor.comYouTube: https://www.whitecoatinvestor.com/youtubeStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 What Is Inflation?00:18 The White Coat Investor