Audiobooks are great. They let you listen to books on road trips and during your commute. Sometimes on Audible the book is even cheaper than the paperback version. However, one downside of an audiobook is that you can't see the images, graphs, tables, and diagrams that are in the print book. Another downside is that you can't click on the URL links like you can with the eBook or scan the URL QR codes like you can in the hard copy book.
In The White Coat Investor's Guide for Students book, the visual information is integral to the content. You will find below the tables, graphs, and diagrams referenced within the audiobook, the end-of-chapter “Additional Resources” URLs, and the text notes for all referenced outside sources. The Table of Contents links will help you easily navigate to the information you are looking for.
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Table of Contents
Tables, Graphs, and Diagrams
Chapter 2 – You Do Not Get a Pass on Math
- Graph 1 – The Effects of 7% Compound Interest on a $500,000 Student Loan
Chapter 4 – How to Pay for Professional School
- Table 1 – Withdrawing IRA Money to Use for Education
Chapter 8 – How to Choose a Specialty (Physicians)
- Graph 2 – Average Income by Specialty
Chapter 9 – How to Choose a Specialty (Dentists)
- Table 2 – How Much Would Doctors Work If They Did Not Need the Money?
- Table 3 – The Reported Incomes of Generalist and Specialist Dentists
- Table 4 – Incomes of Dental Subspecialties
- Table 5 – Dental Specialist Match Rates
Chapter 10 – Avoiding Financial Catastrophes
- Table 6 – Medical Specialist Match Rates
Chapter 12 – How to Choose a Residency Program
- Table 7 – MD Match Application Costs
Chapter 13 – Why a Dentist Should Not Be Afraid to Open a Practice
- Table 3 – Dentist Practice Owners Make More Than Employees
Chapter 15 – Student Loan Management During Residency
- Table 8 – Federal vs. Private Loan Benefits
- Table 9 – Calculating PAYE and REPAYE Payments
- Table 10 – Comparison of IDR Programs
- Table 11 – PSLF Requirements
Chapter 17 – Protecting Your Most Valuable Asset
- Table 12 – Recommended Disability Insurance Riders
Chapter 19 – Stocks, Bonds, and Mutual Funds (Financial Literacy 101)
- Diagram 1 – The Investment Risk Spectrum
- Diagram 2 – Yield vs. Return
- Diagram 3 – Equity Style Box
- Table 13 – Stock Market Divided by Sectors
- Diagram 4 – Debt Style Box
Chapter 20 – Taxes and Retirement Accounts (Financial Literacy 102)
- Table 14 – Federal Income Tax Brackets
- Graph 3 – Historical Tax Rates
Chapter 21 – Financial History (Financial Literacy 103)
- Graph 3 – Historical Tax Rates
Chapter 22 – Numbers You Need to Know (Financial Literacy 104)
- Table 15 – The Trinity Study
Additional Resources
Chapter 1 – Why Money Should Not Be Your Primary Motivation
Chapter 2 – You Do Not Get a Pass on Math
Chapter 3 – How to Choose a Medical or Dental School
Chapter 4 – How to Pay for Professional School
Chapter 5 – Why You Should Be a Thrifty Student
Chapter 6 – How to Live on Loans
Chapter 7 – The Advantages of Being a Non-Traditional Student
Chapter 8 – How to Choose a Specialty (Physicians)
Chapter 9 – How to Choose a Specialty (Dentists)
Chapter 10 – Avoiding Financial Catastrophes
Chapter 11 – Preventing and Combating Burnout
Chapter 12 – How to Choose a Residency Program
Chapter 13 – Why a Dentist Should Not Be Afraid to Open a Practice
Chapter 14 – Why Renting Could Actually Save You Money
Chapter 15 – Student Loan Management During Residency
Chapter 16 – Investing During Residency
Chapter 17 – Protecting Your Most Valuable Asset
Chapter 18 – Got Dependents? Get Life Insurance
Chapter 19 – Stocks, Bonds, and Mutual Funds (Financial Literacy 101)
Chapter 20 – Taxes and Retirement Accounts (Financial Literacy 102)
Chapter 21 – Financial History (Financial Literacy 103)
Chapter 22 – Numbers You Need to Know (Financial Literacy 104)
Notes
Chapter 1 – Why Money Should Not Be Your Primary Motivation
Chapter 2 – You Do Not Get a Pass on Math
Chapter 3 – How to Choose a Medical or Dental School
Chapter 4 – How to Pay for Professional School
Chapter 6 – How to Live on Loans
Chapter 7 – The Advantages of Being a Non-Traditional Student
Chapter 8 – How to Choose a Specialty (Physicians)
Chapter 9 – How to Choose a Specialty (Dentists)
Chapter 10 – Avoiding Financial Catastrophes
Chapter 11 – Preventing and Combating Burnout
Chapter 12 – How to Choose a Residency Program
Chapter 13 – Why a Dentist Should Not Be Afraid to Open a Practice
Chapter 14 – Why Renting Could Actually Save You Money
Chapter 16 – Investing During Residency
Chapter 19 – Stocks, Bonds, and Mutual Funds (Financial Literacy 101)
Chapter 20 – Taxes and Retirement Accounts (Financial Literacy 102)
Chapter 21 – Financial History (Financial Literacy 103)
Chapter 22 – Numbers You Need to Know (Financial Literacy 104)
Tables, Graphs, and Diagrams
Chapter 2 – You Do Not Get a Pass on Math
Chapter 4 – How to Pay for Professional School
Chapter 8 – How to Choose a Specialty (Physicians)
Chapter 9 – How to Choose a Specialty (Dentists)
Chapter 10 – Avoiding Financial Catastrophes
Chapter 12 – How to Choose a Residency Program
Chapter 13 – Why a Dentist Should Not Be Afraid to Open a Practice
Chapter 15 – Student Loan Management During Residency
Chapter 17 – Protecting Your Most Valuable Asset
Chapter 19 – Stocks, Bonds, and Mutual Funds (Financial Literacy 101)
Chapter 20 – Taxes and Retirement Accounts (Financial Literacy 102)
Chapter 21 – Financial History (Financial Literacy 103)
Chapter 22 – Numbers You Need to Know (Financial Literacy 104)
Additional Resources
Chapter 1 – Why Money Should Not Be Your Primary Motivation
Blog Post:
Resource:
News Article: Pay in Banking vs. Consulting vs. Tech vs. Medicine vs. Law
Chapter 2 – You Do Not Get a Pass on Math
Blog Posts:
Maximum Student Loan to Debt Ratio
Surveys:
AACOM Graduating Class Surveys
Chapter 3 – How to Choose a Medical or Dental School
Blog Posts:
Public vs. Private Education Is the Wrong Question
Is Medical School Still Affordable?
Chapter 4 – How to Pay for Professional School
Blog Posts:
Don’t Give Up on PSLF Loan Forgiveness
Should I Join the Military to Pay for Medical School?
The Health Professions Scholarship Program
Army National Guard Physicians
NHSC—Loan Repayment or Scholarship?
How to Pay Off Medical School Loans in Less than 2 Years
How Fast Can You Get Out of Debt?
Resource:
Army Medicine: Health Professions Scholarship Program
Chapter 5 – Why You Should Be a Thrifty Student
Blog Posts:
The Frugal Physician: Self-Serving or Self-Denying?
The Frugal Physician: 5 Steps to Becoming Debt-Free
How to Get Rich by Driving a $5,000 Car
Chapter 6 – How to Live on Loans
Blog Posts:
The Right Way to Use Debt in Medical School
Hitting a Net Worth of $0 as an Intern
Chapter 7 – The Advantages of Being a Non-Traditional Student
Blog Post:
10 Tips for Non-Traditional Medical School Applicants
Resource:
AAMC Article: Medical School Costs for Non-Traditional Students
Chapter 8 – How to Choose a Specialty (Physicians)
Blog Posts:
Intra-Specialty Salary Differences
Podcast:
#158 Which Physician Specialty Is Best for Retiring Early?
Chapter 9 – How to Choose a Specialty (Dentists)
Blog Post:
Debt Dilemmas for Dental Specialists
Chapter 10 – Avoiding Financial Catastrophes
Blog Posts:
One House, One Spouse, One Job
Insure Only Against Financial Catastrophe
Big Debt Without an Income – A Med School Disaster
Physician Burnout: Factors and Cures
Book:
50 Nonclinical Careers for Physicians
Chapter 11 – Preventing and Combating Burnout
Blog Posts:
Using a Venn-Diagram to Decrease Burnout
Podcast:
#46 Physician Burnout with the Happy Philosopher
Resource:
Physician Life Coaching Services
Chapter 12 – How to Choose a Residency Program
Blog Posts:
Choosing a Residency: What Goes into a Rank List
10 Ways to Reduce Residency Interview Expenses
Financial Survival as a Resident
How to Live Like a Resident as a Resident
Chapter 13 – Why a Dentist Should Not Be Afraid to Open a Practice
Blog Post:
Resources:
Dental Entrepreneur Article: Ready to Own Your Own Dental Office? It Isn’t for Everyone
Chapter 14 – Why Renting Could Actually Save You Money
Blog Posts:
Physician Mortgage Loans for Other High-Income Professionals
Resources:
Physician Mortgage Lenders
New York Times Buy vs. Rent Calculator
Chapter 15 – Student Loan Management During Residency
Blog Posts:
Ultimate Guide to Student Loan Management for Doctors
Public Service Loan Forgiveness
REPAYE vs. Refinancing Student Loans as a Resident
REPAYE vs. PAYE/MFS for Married Residents
12 Reasons I Hate IDR Forgiveness Programs
10 Reasons You Should Pay Off Student Loans Quickly
Resources:
Cashback Deals on Student Loan Refinancing
Student Loan Specific Advisors
PSLF Employer Certification Form
Chapter 16 – Investing During Residency
Blog Posts:
Financial Lessons for Residents by a Resident
Yes, Residents Can Save for Retirement
Why Everyone Should Love the Roth IRA
Roth vs. Traditional When Going for PSLF
Chapter 17 – Protecting Your Most Valuable Asset
Blog Posts:
What You Need to Know About Physician Disability Insurance
17 Physician Disability Insurance Mistakes
Disability Insurance for Military Physicians
Disability Insurance for Two Doctor Couples
Resource:
Recommended Independent Insurance Agents
Chapter 18 – Got Dependents? Get Life Insurance
Blog Posts:
Term Life Insurance Strategies for Physicians
Term Life Insurance: What You Need to Know Before You Buy
What You Need to Know About Whole Life Insurance
Resource:
Recommended Independent Insurance Agents
Chapter 19 – Stocks, Bonds, and Mutual Funds (Financial Literacy 101)
Course:
Blog Posts:
Why Talking About Individual Stocks (and Sectors) Makes You Look Dumb
7 Basic Principles of Bond Investing
7 Reasons Not to Use a 100% Stock Portfolio
150 Portfolios Better than Yours
10 Reasons I Invest in Index Funds
Why Does the Stock Market Go Up?
Chapter 20 – Taxes and Retirement Accounts (Financial Literacy 102)
Blog Posts:
Doctors Don’t Pay 50% of Their Income in Taxes
“I Want to Lower My Taxes” Is a Stupid Goal
Tax-Deferred Retirement Accounts: A Gift from the Government
The 529 Account: A Tax Break for the Rich
ABLE: A Tax-Protected Investing Account for Your Special Child
3 Ways Your 401(k) Lowers Your Tax Bill
Resource:
Chapter 21 – Financial History (Financial Literacy 103)
Blog Posts:
Understanding Market History Provides Perspective
Cryptocurrencies like Bitcoin Are Not Investments
Resource:
Callan Table of Periodic Returns
Chapter 22 – Numbers You Need to Know (Financial Literacy 104)
Blog Posts:
Future Value Function Tutorial
How to Calculate Your Return – The XIRR Tutorial
Resources:
Google Sheets, a Free Spreadsheet
Notes
Introduction
- “Historical Consumer Price Index (CPI-U) Data,” Inflation Data, Tim McMahon, accessed December 26, 2020.
- Erik Sherman, “College Tuition Is Rising at Twice the Inflation Rate—While Students Learn at Home,” Forbes, August 31, 2020.
- “Tuition and Student Fees Reports,” AAMC, accessed December 26, 2020.
- Leslie Kane, “Medscape Physician Debt and Net Worth Report 2020,” Medscape, June 24, 2020.
Chapter 1 – Why Money Should Not Be Your Primary Motivation
- Sarah Butcher, “Pay in Banking vs. Consulting vs. Tech vs. Medicine vs. Law,” eFinancialCareers, January 15, 2020.
Chapter 2 – You Do Not Get a Pass on Math
- Dave Ramsey, “Don’t Be Stupid About How You Pay for Education,” The Dave Ramsey Show, September 26, 2016.
- “Graduation Questionnire (GQ),” AAMC, accessed December 26, 2020.
- “AACOM Reports: Entering and Graduating Class Surveys,” American Association of Colleges of Osteopathic Medicine (AACOM), accessed December 26, 2020.
- “ADEA Survey of Dental School Seniors, 2018 Graduating Class Tables Report,” ADEA: The Voice of Dental Education, November 2018.
- Josh Mitchell, “Mike Meru Has $1 Million in Student Loans. How Did That Happen?,” The Wall Street Journal, May 25, 2018.
Chapter 3 – How to Choose a Medical or Dental School
- “Results and Data: 2019 Main Residency Match,” The Match: National Resident Matching Program, May 2019.
- “2013–2021 Tuition and Student Fees Reports,” AAMC, accessed December 26, 2020.
- “Osteopathic College Tuition and Fees (1st Year) 2020–2021 and Historical,” American Association of Colleges of Osteopathic Medicine (AACOM), accessed December 26, 2020.
- “Dental School Rankings,” The Student Doctor Network (SDN), accessed December 26, 2020.
Chapter 4 – How to Pay for Professional School
- Devasmita Chakraverty, Donna B. Jeffe, and Robert H. Tai, “Transition Experiences in MD-PhD Programs,” CBE Life Sciences Education 17, no. 3 (Fall 2018): ar41.
Chapter 6 – How to Live on Loans
- Ecclesiastes 3:1, 2, 6 (KJV).
Chapter 7 – The Advantages of Being a Non-Traditional Student
- “2019 MSQ All Schools Summary Report (PDF),” AAMC, accessed December 26, 2020.
Chapter 8 – How to Choose a Specialty (Physicians)
- Internal data from a White Coat Investor social media poll.
- Leslie Kane, “Medscape Physician Compensation Report 2020,” Medscape, May 14, 2020.
- American College of Emergency Physicians, and Daniel Stern and Associates, 2015 National Emergency Medicine Salary Survey: Clinical Results (Irving, TX: American College of Emergency Physicians, 2015).
Chapter 9 – How to Choose a Specialty (Dentists)
-
- Internal data from a White Coat Investor social media poll. Similar “@WCInvestor” Twitter poll and data.
- Jonathan Clements, How to Think About Money (CreateSpace Independent Publishing Platform, 2016).
- “Health Policy Institute: Income and Gross Billings,” American Dental Association (ADA), accessed January 2020.
- “Dental Match Statistics: Phase | Summary Charts,” National Matching Services Inc., accessed December 28, 2020.
- “Dental Match Statistics: Summary Statistics,” National Matching Services Inc., accessed December 28, 2020.
Chapter 10 – Avoiding Financial Catastrophes
- Sylvie Stacy, 50 Nonclinical Careers for Physicians: Fulfilling, Meaningful, and Lucrative Alternatives to Direct Patient Care (American Association for Physician Leadership, 2020).
- “Main Residency Match Data and Reports,” The Match: National Residency Matching Program, accessed December 28, 2020.
Chapter 11 – Preventing and Combating Burnout
- Sara Berg, “WHO Adds Burnout to ICD-11. What It Means for Physicians,” AMA, July 23, 2019.
- Richard A. Friedman, “Is Burnout Real?,” The New York Times, June 3, 2019.
- Nadia Goodman, “How Google’s Marissa Mayer Prevents Burnout,” Entrepreneur, June 6, 2012.
- Leslie Kane, “Medscape National Physician Burnout and Suicide Report 2020: The Generational Divide,” Medscape, January 15, 2020.
- Internal data from a White Coat Investor social media poll. Similar “@WCInvestor” Twitter poll and data.
Chapter 13 – Why a Dentist Should Not Be Afraid to Open a Practice
-
- Carol K. Kane, “2018 Benchmark Survey: Updated Data on Physician Practice Arrangements: For the First Time, Fewer Physicians Are Owners than Employees,” AMA: Policy Research Perspectives, 2018.
- “Health Policy Institute: Income and Gross Billings,” American Dental Association (ADA), accessed January 2020.
Chapter 14 – Why Renting Could Actually Save You Money
- Summarized from Ecclesiastes 3:1 (KJV).
Chapter 16 – Investing During Residency
- Jonathan Clements, “How to Think About Money as a Physician” (speech), March 3, 2018, Physician Wellness and Financial Literacy Conference—Park City, video available in the conference course.
- Matt Krantz, “24 Bankruptcies Prove You Can Lose 90% of Your Money on Stocks,” Investor’s Business Daily, May 7, 2020.
- Berlinda Liu, “SPIVA US Year-End 2019 Scorecard: Active Funds Continued to Lag,” S&P Global, April 8, 2020.
Chapter 19 – Stocks, Bonds, and Mutual Funds (Financial Literacy 101)
- “Earnings Release FY19 Q4,” Microsoft, July 18, 2019.
- “List of Countries by GDP (Nominal),” Wikipedia, accessed December 28, 2020.
- “GDP by State,” Bureau of Economic Analysis (BEA): U.S. Department of Commerce, accessed December 28, 2020.
- Benjamin Graham, in discussion with Warren Buffet, quoted in Warren E. Buffet, “Letter to the Shareholders of Berkshire Hathaway Inc.,” Berkshire Hathaway Inc., March 1, 1994.
- “Sectors and Industries Overview,” Fidelity Investments, January 2020.
- Vanguard, Vanguard Total Stock Market Index Fund Summary Prospectus, April 28, 2020, 2–3.
Chapter 20 – Taxes and Retirement Accounts (Financial Literacy 102)
- “IRS Provides Tax Inflation Adjustments for Tax Year 2021,” IRS, October 26, 2020.
- “Historical Highest Marginal Income Tax Rates,” Tax Policy Center (TPC): Urban Institute and Brookings Institution, February 4, 2020.
- Robert McClelland, and Nikhita Airi, “Effective Income Tax Rates Have Fallen for the Top One Percent Since World War II,” Tax Policy Center (TPC): Urban Institute and Brookings Institution, January 6, 2020.
Chapter 21 – Financial History (Financial Literacy 103)
- Recommended resources to learn more about financial history:
William J. Bernstein, The Four Pillars of Investing: Lessons for Building a Winning Portfolio (McGraw-Hill Education, 2010).
Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds (CreateSpace Independent Publishing Platform, 2016).
Andrew H. Browning, The Panic of 1819: The First Great Depression (University of Missouri, 2019). - Attributed to Mark Twain.
- G.R. Driver and John C. Miles, The Babylonian Laws (The Clarendon Press, 1955).
- Cyrus H. Gordon, Hammurabi’s Code (Holt, Reinhart and Winston, 1965), 8.
- Bava Metzia, fol. 42, col. 1.
- Isaac Newton, quoted in John O’Farrell, An Utterly Impartial History of Britain or 2000 Years of Upper-Class Idiots in Charge (Doubleday, 2007).
- John Rothchild, “When the Shoeshine Boys Talk Stocks It Was a Great Sell Signal in 1929. So What Are the Shoeshine Boys Talking About Now?,” Fortune Magazine, April 15, 1996.
- Evelyn Cheng, “Bitcoin Is Not a Classic Bubble, But Still Be ‘Suspicious,’ Says Investing Expert William Bernstein,” CNBC, October 24, 2017.
- James K. Glassman and Kevin A. Hassett, Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market (Three Rivers Press, 2000).
- Dan Murphy, “Analyst Who Predicted Bitcoin’s Rise Now Sees It Hitting $300,000–$400,000,” CNBC, December 17, 2017.
- William J. Bernstein, Deep Risk: How History Informs Portfolio Design (Efficient Frontier Advisors, 2013).
- “List of Nationalizations by Country,” Wikipedia, accessed December 28, 2020.
- “The Callan Periodic Table of Investment Returns 2000–2019,” Callan Institute, 2020.
- John C. Bogle, Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition (J. Wiley & Sons, 2010).
- “Compound Annual Growth Rate (Annualized Return),” Moneychimp, accessed December 28, 2020.
- “Vanguard Portfolio Allocation Models,” Vanguard, accessed December 28, 2020.
- Jeremy Siegel, Stocks for the Long Run 5/E: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies (McGraw-Hill Education, 2014).
- “Federal Funds Rate—62 Year Historical Chart,” Macrotrends, accessed December 28, 2020.
- “Historical Highest Marginal Income Tax Rates,” Tax Policy Center (TPC): Urban Institute and Brookings Institution, February 4, 2020.
Chapter 22 – Numbers You Need to Know (Financial Literacy 104)
- Morgan Housel, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness (Harriman House, 2020).
- Philip L. Cooley, Carl M. Hubbard, and Daniel T. Walz, “Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable,” Journal of the American Association of Individual Investors (February 1998): 16–21.