An interview with emergency physician, author, and executive coach Rob Orman, where we talk about physician burnout, better ways to navigate conflict, and why simply pushing through is not always the answer.
Let's walk through the WCI principles with an international lens for all those physicians who are international medical graduates.
The early bird pricing for WCICON27 is happening now. Make sure you secure your seats before the price goes up. Here's why you should do it.
You'll probably do a better job with your financial planning—and your tax planning—if you divide retirement planning into six stages.
The Vanguard Total Stock Market Index Fund is my favorite fund, and you should give it serious consideration for your US stock exposure.
Medical school may not have taught you about money, but we will.
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Get ready to take control of your financial life. You can do this, and we can help.
We won't sell your information. Modify your preferences or unsubscribe at any time.
For all of those people who are tax-phobic and want to avoid paying much in taxes at all, here are some extreme ways to reduce them.
As unique as Bitcoin is, it brings unfamiliar responsibilities involving custody, security, and key management. How should you handle them?
Answering listener questions about 529 plans, including how much to save, tax-free growth, withdrawals, Roth IRA rollovers, and what to do with an overfunded account.
Here's a little history on the Roth IRA, when the backdoor was left open for high earners, and why the government allows us to do this.
In general, you should buy an individual disability insurance policy. More than a decade ago, I bought a group policy as well. Here's why.
Enroll in WCI Financial Boot Camp, a FREE 12-week email course to improve your financial life.
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For decades, my emergency physician group has let the market decide the worth of a night shift. Recently, that's changed—and it seems unfair.
I'm not a camping guy, and I'm not really a hiking guy. Why, then, did I go on a two-week backpacking trip? And what lessons did I learn?
More than half of eligible children (and many widows and widowers) are missing out on Social Security survivor benefits. Here's what to know.
Recently, a bunch of WCIers got very interested in cash balance plans. Let's talk about them today, particularly the downsides of a CBP.
Answering listener questions about the most effective levers for catching up after a late start to retirement saving, tax-loss harvesting, and when added investment complexity may or may not be worth it.
This Backdoor Roth IRA tutorial takes you step-by-step through the contribution process including Form 8606, tax implications, common mistakes, and lots more.
Why are people scared about the decumulation phase in retirement? It has more to do than with how much money they have. Let's explore why.
I've done the things that people say they'd do if they didn't have to work—travel, hobbies, time with family. Sometimes, I'm still not happy.
If you let a season of your life go by without having an experience that is only available in that season, you've lost your chance.
The contribution limits for 401(k)s, 403(b)s, IRAs, and HSAs will change for 2027. Here's what you need to know.
Medical school may not have taught you about money, but we will.
We will never sell your information. Modify your preferences or unsubscribe at any time.
Get ready to take control of your financial life. You can do this, and we can help.
We won't sell your information. Modify your preferences or unsubscribe at any time.
According to a new survey, the average doctor's salary has made solid gains in the past two years. Here's what doctors make in a year.
Before you retire, be sure you check off our financial to-do list. This pre-retirement checklist will help you not forget anything.
Your financial and fitness goals often share the same principles. Here's what to know about getting in shape—with your body and your money.
Get a tax plan in place to better manage your wealth in 2026. Start by understanding the 2026 tax brackets and how they work.
Knowing what we know about cryptocurrency and its volatility, should you invest in it? Let's explore the issue here.
Many beginning investors feel overwhelmed when trying to design and implement their investment portfolios. This detailed plan should help.
Parents with fantastic intentions often hurt their children by giving terrible financial gifts. Here's how to change that.
Learn the basics of real estate investing—from hard money loans to mezzanine debt, capital stacks to waterfalls, depreciation, 1031 exchanges, strategies, and lots more.
Too many docs never build significant wealth despite their high incomes. Make plans now to ensure you aren't in that category when you retire.
How much longer can I do this job? I'd wondered that for years, but now I needed to make a choice: retire early or find something else to do.
How much money will you need to retire? Let's run through all the information you'll need to calculate your target number.
Every doctor needs an asset protection plan. The best are simple, inexpensive, and highly effective at protecting you from financial loss.
Learn what tasks to do first using these waterfalls for residents and attendings, so you can manage your money.
Get as mad at debt as I am! Do the math, make a plan, take control, and seize the life you want by paying off your debt FAST.
Ready to start investing? Here's an overview of the basics of investing money and what you need to know before jumping into the stock market.
There are much better things to do with your time than hunting down 0% financing deals. Once quantified, they just look like clipping coupons.
Most of my portfolio is invested in index funds. I hope that's not news to you. Here are 10 of the reasons why.
What are the most unbiased, accurate, high-yielding, current, and entertaining financial books for doctors and other high income professionals? Here you go!
Whole life insurance is pitched to almost every high-income professional. Arm yourself with the facts so you don't fall prey to a decision you'll regret.
Disability insurance is crucial insurance for the vast majority of physicians to secure. Buy it right the first time, and you may never have to do it again.
We had a money hemorrhage a few years ago. It was bad. There was a lot of fun involved, but we did learn some lessons.
What do you do with the pennies your money earns between the contribution and conversion to a Backdoor Roth IRA? Not much.
Tax-deferred retirement accounts can reduce taxes, protect assets, plan your estate, and boost returns. Ignore them at your peril.
Guess what? You can have multiple 401(k) accounts, saving you thousands in additional taxes every year. But it can get pretty complicated.
A good investment portfolio is diversified, low-cost, passively managed, and consistent with your risk tolerance. Which one is best for you?
Doctors should follow these 10 steps to reach financial independence. Let's call them the 10 commandments of The White Coat Investor.
There are LOTS of reasonable budgets. Learn to create one to fit YOUR priorities and values as you use money as a tool to bring happiness.
Many Americans aren't rich because of what kind of car they drive. Don't be like them. You aren't what you drive.
We asked 15 questions to determine how those who have retired got there. So far, about 140 people have responded. Here's what they said.
While it’s a personal decision with lots of factors, here’s what to consider when deciding if you should pay off student loans or invest.
Let the government share in your investment losses. Here is a step-by-step guide to tax-loss harvesting so you can take advantage of market downturns.
I've said "Stay the course" a thousand times, and I meant it every time. It doesn't matter if stocks are up or down, stay the course!
Not all physicians can make $500,000 a year or more. But moderate-income physicians also can have ultra-rich lives if they have a plan.
When doctors don't talk about money, they end up making the same dumb mistakes. Stop the cycle and learn from others.
There are a few important financial chores every busy resident would be foolish to ignore. Get these 6 things done and checked off on your "to-do" list.
"Don't buy stuff you can't afford" is so simple it's laughable, yet too many of us live with debt we think acceptable. Here's how to change.
Don’t make these seven common mistakes that cause doctors to fall short in reaching financial success.
The most complicated routine question for investors is the annual dilemma about Roth contributions and conversions. Here's what to know.
Should you use your money to pay off debt or invest? Unless you're 100% debt-free, you've got a dilemma. Resolve it with this algorithm.
Debt is an important part of our financial system, but it can also cause financial ruin. Let's talk about debt and see if it'd work for you.
Financial knowledge isn't enough. Without the X Factor, you'll never reach financial success. Here's how to get to the next level.
In my marriage, I'm the primary earner. Here's how I think about bucking customary gender-based norms and making more money than my husband.
Estate planning is a critical part of your financial life. Nobody gets out alive. The basics aren't that complicated. Here's what you need to know.
What's a physician's best strategy for buying life insurance? It's easy if you avoid common sales tactics and know exactly what you want.
Celebrating the principles of Financial Independence Retire Early (FIRE). Decide if joining the movement for financial freedom is in your future!
The best 529 plans will give you a state tax credit, low fees, and great investment options. Find the best plan available for you.
I've often asked myself, "If you could design a financial planning firm from the ground up, what would it look like?" Here's the answer.
Financial advisors cost a lot of money. Learning to be your own advisor may save you time, money, and hassle. Here are eight reasons why.
Here's the info a physician needs to manage student loan debt, including private and federal loans, PSLF, RAP, IBR, and how to pay them off.
If you're working for a 501(c)(3), PSLF is the federal debt forgiveness program most physicians should be looking to get!
Should your tax preparer also be giving you advice about how to live your tax life? In other words, do you actually need a tax strategist?
Here's everything you need to know about giving to charity, why you should do so, and the tax benefits available to those who give.
If you’re one of those who needs to loosen the purse strings a bit, this post is for you. Here are some tips for how to spend your money.
Here's how to calculate your required minimum distribution and reduce your fear of potential RMD tax burdens.
If you've been considering an investment in private real estate, here's a little bit of experienced advice on how to get started.
Every investor needs a written Investment Policy Statement. Here are a few pieces out of mine and ideas for what you ought to consider including in yours.
Here's everything you need to know about Qualified Charitable Distributions and whether it's the right move for retirees.
Saving up for luxuries is an important financial habit to get into. Boats, ATV's, horses, airplanes, expensive cars... if you take up these luxuries before you are wealthy, they can prevent you from ever becoming wealthy.
The passage of the One Big Beautiful Bill Act will affect plenty of doctors when it comes to income, taxes, healthcare, and student loans.
For DIY investors, the questions of retirement timing and how to calculate what you'll need are hard to dissect. A calculator could help.
My experience with my father's long-term care insurance company has not been an easy one. But I've learned quite a few lessons.
Credit card travel rewards allowed me to take vacations I never dreamed I could. But does the travel hacking math really work in my favor?
It was remarkable to discover the difference between aiming for FI and reaching FI. Here are some math and psychological lessons I learned.
How can you access the mental health support you need while protecting your career and livelihood as a doctor? Here are some suggestions.
Just because the government helped train me to be a doctor, does that mean I can't retire early? Should I see patients forever?
This is what the perfect advisor looks like to me. If you can't do it yourself, make sure you find someone with most of these criteria.
New residents have a big desire to buy a house. But it's a gamble of your time and money at a period of life when you have little of either.
Stress is all but guaranteed in the medical profession. But here are some medical specialties that are more stressful than others.
Navigating our finances (and our increasing income) with the people we love is tough. It’s awkward. It's hard to find the right balance.
The seeds of The White Coat Investor's newest course, No Hype Real Estate, actually sprouted years ago. Here's the behind-the-scenes story.
Have fun, be in control of your finances, and save a ton of money being a DIY investor. With the right tools and knowledge, you can do this!
This popular post explains what whole life insurance is and the various methods salesmen use to sell it to you (usually inappropriately). Be forearmed!
The secret to becoming a wealthy physician is contained in these four words: "Live Like a Resident." Earn like an attending, but spend like a resident to become very wealthy, very fast.
Not sure which types of retirement accounts you should use? Here's all the information together in one place so you can get a grip on your retirement plan.
Hitting my 50s has made me a better professional, and I'm now confident with my finances. And I don't care what anybody thinks about it.
One good way to make some additional money is by taking physician surveys. And yes, you can make it a significant part of your income.
Wondering why you're no good at stock picking? The odds are stacked dramatically against you. Do yourself a favor and don't play this loser's game.
HSAs have superior tax protection features compared to any other investing account. If you're using an HDHP be sure to make an HSA a priority each year.
I just turned 40 years old, and I have spent less than $20,000 on all the cars I have ever owned. That is going to make me wealthy one day.
When will you know if you are competent enough to manage your own personal finances? Here are 10 ways to determine if you are ready to be a DIY investor.
As doctors, we optimize for salary, prestige, or job security but rarely consider the factors that really contribute to long-term happiness.
I used to think my baseball cards would make me rich. That didn't happen. Here's why my collection (and yours) won't reach seven figures.
You've heard of the Millionaire Next Door. But have heard of the Rich Doctor Across the Hall? They've heard of you, and they're not impressed.
Far too many investors take either too much or too little investing risk for their goals. Here's how to get to the right level for you.
I thought the Backdoor Roth IRA was so simple nobody would screw it up. Boy was I wrong. Here's how to get it right and make contributions a simple task.
In broad strokes, asset protection includes tax saving, estate planning, and even investment strategies, and it will help preserve your nest egg in case of a malpractice suit. See Posts
Estate planning is the process to ensure that your assets go where you want after your death, that your desires are carried out after you can no longer make decisions, and that the estate taxes you pay to the government are minimal. See Posts
Whether it's life, disability, auto, home, or malpractice, high-income professionals need insurance to make sure life's biggest costs don't substantially hurt their nest egg. See Posts
There are so many ways to invest successfully that the most important thing is to just pick something reasonable and stick with it. But it's key to know which approach to take and why you're picking that option. See Posts
Beginning your financial journey and learning about personal finance can seem awfully overwhelming. But instead of trying to solve the entire puzzle at once, it'll be easier (for your mind and for your psyche) to break it down into sections that are more easily digestible. See Posts
Ownership matters, whether it's owning profitable companies, owning your own home, or owning your job. Most of the time, medicine is better—for the docs and for the patients—when docs own their jobs. See Posts
A full, happy, comfortable retirement is where so many WCIers have been aiming since they began working. The main questions: what's the best way to get there, and once you arrive, how do you begin to live and fund your new life? See Posts
While it's entirely possible to finish an undergraduate education debt-free, it's become less likely that physicians and other high-income professionals can do the same. That's why it's so important to know how to manage student loans and the programs that provide student loan forgiveness—especially in a political world that constantly makes changes to them. See Posts
Recent studies show that more than 50% of physicians have experienced burnout, marking a notable increase in the past decade. This trend is alarming and shows why the intersection of burnout and how high earners can keep themselves healthy has never been more pertinent. See Posts