How to Become a Millionaire as a Physician
By Dr. James M. Dahle, WCI Founder This was a post on Sermo, with 437 responses in about a week. I'm going to cite what I thought were 15 of the best ones. The entire White Coat Investor site consists...
By Dr. James M. Dahle, WCI Founder This was a post on Sermo, with 437 responses in about a week. I'm going to cite what I thought were 15 of the best ones. The entire White Coat Investor site consists...
Physicians shopping for disability insurance need to understand the difference between owning a Guaranteed Renewable (GR) Individual Disability Insurance (IDI) Contract and a Noncancelable/Guaranteed...
I was pretty excited to see that my 401K is moving from predominantly actively-managed mutual funds to predominantly index mutual funds. The best part is that several of the funds are ones that I alr...
A discussion of a JAMA study on burnout, and 6 suggestions for avoiding it.
Early Retirement Is Still Possible I recently retired from the practice of emergency medicine at the age of 53, and I was asked to write about how I managed that. A bit of it was luck (bad luck, actua...
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.
My last post discussed how I recently made partner and how this has given me additional income, expenses, risk, and personal financial complexity. In this post, we'll discuss the ways becoming a part...
I recently became a partner in my small, democratic emergency medicine group. That's exciting to me because it gives me a say in how my group operates, more job security, and, best of all, a signific...
In the first part of this series I discussed the additional taxes you may pay due to PPACA. In part two, I discussed the benefits you'll see as a consumer from the PPACA regulations. In this part, w...
Last time we discussed some additional taxes you may or may not be paying as a result of PPACA. This post addresses the considerable benefits of PPACA to you a health care consumer. Next time we'll...
The Patient Protection And Affordable Care Act (PPACA), affectionately known by its political opponents as Obamacare, survived its scare with the Supreme Court and its now time to examine it's impacts...
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One way this website makes money is through affiliate marketing. Some ads pay just to be seen, and others pay me only if you click on them. With affiliate marketing, you generally have to do somethi...
Reducing your assets exposed to a lawsuit can minimize your losses or even stop the lawsuit. Equity-stripping is one technique to do so.
Dave Ramsey is spot on with his advice about getting out of debt but I'd be very cautious taking investing advice from him or his endorsed local providers. Here are 4 reasons why he may be leading you astray.
I had a recent question that I'd been meaning to address as a blog post. By the time I had the email answered, most of this post was written. Just about every military physician contemplates this qu...
Most variable annuities are too expensive for their benefits. Vanguard, however, offers very inexpensive ones. Most doctors still shouldn't use one though.
After much thought, our portfolio is changing this year from one reasonable portfolio to another. We'll see how it goes. Update in a decade.
Here are 8 steps to automate your financial life and help you reach your goals of financial freedom.
Rich people don't "manage" debt. They eliminate it. Not stupidly, but reasonably and consistently. It's a behavioral thing, not a math thing.
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.
The Roth IRA is a great start for building your nest egg. There's no better vehicle for investing, tax reduction, asset protection, and estate planning.
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.
Peer to Peer Lending (P2PL) is a relatively new asset class I've been investing in for a few years with good success. The risks are high, but the low correlation with the rest of your portfolio coupled with the high returns make it worth looking into.
People often tell you that you'll be super happy once you're financially independent. They might not know what they're talking about.
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.
Don’t make these seven common mistakes that cause doctors to fall short in reaching financial success.
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