4.9 • 2.3K Ratings
🗓️ 11 July 2019
⏱️ 45 minutes
🧾️ Download transcript
Should you start a retirement plan for your office? When is it worth starting? What things should you consider? A practice retirement plan can help with recruitment and retention of employees. But if your employees don't value that it may not be worth starting. Running a group practice retirement plan can be expensive for employers. But once you have employees it is no longer a do it yourself project. It is time to get a pro involved and help run the numbers and decide what plan is right for you. There are half a dozen ways you can structure a retirement plan for a practice. Sometimes the best thing to do is not have a plan and just invest in taxable. We discuss when starting a group practice retirement plan might be right thing for you in this episode and answer other listener questions about buying homes, investing vs paying off the mortgage, how to figure out what expense ratio you are actually paying on your investment fund, and more. Remember if you have questions you would like answered on the podcast, record them at https://www.speakpipe.com/whitecoatinvestor. See this episode's show notes at https://www.whitecoatinvestor.com/
This episode is sponsored by Earnest. Save money on your student loans by refinancing with Earnest at https://www.whitecoatinvestor.com/earnest . Choose custom terms to fit your budget – like picking your exact monthly payment or selecting fixed and variable rates. Earnest’s Precision Pricing matches your custom term with a custom interest rate — saving you even more money when refinancing. You won’t be passed off to a third-party servicer nor penalized for making payments early. Your family is always protected with loan forgiveness in cases of death and dismemberment. Get $500 when you sign a loan with Earnest. (They can lend in DC and all states except DE, KY, NV. They can only offer fixed rates in AK, IL, MN, NH, OH, TN, and TX.)
Check out our updated Reddit page at https://www.whitecoatinvestor.com/reddit We received little bit of help recently from a redditor who has made our reddit page a lot more useful. There is the Wiki there now and additional links that are helpful. We have put a lot more color and organization on the page so be sure to check out the reddit page if you haven't check it out in awhile.
We have also updated our recommended financial advisor page at https://www.whitecoatinvestor.com/financial-advisors/ It is a lot more standardized and useful. Every one of the advisors on that page have been vetted by me and I highly recommend any of them to you. I think you'll enjoy the update page, either for yourself if you need a financial advisor, or if you just need some place where you can send your colleagues, friends, and family members and know that they are going to get good advice at a fair price.
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0:00.0 | This is the White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street. |
0:06.0 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
0:12.0 | Here is your host, Dr. Jim Dolly. |
0:18.0 | This is White Code Investor Podcast number 114. When is it worth starting a practice retirement plan? |
0:24.0 | This podcast is sponsored by Ernest. Save money on your student loans by refinancing with Ernest. Choose custom terms to fit your budget, like picking your exact monthly payment or selecting fixed and variable rates. |
0:35.0 | Ernest's precision pricing matches your custom term with a custom interest rate, saving you even more money when refinancing. |
0:41.0 | You won't be passed off to a third-party servicer, nor penalized for making payments early. |
0:46.0 | Your family is always protected with loan forgiveness in cases of death and dismemberment. |
0:51.0 | Get $500 when you sign a loan with Ernest using the links found in the podcast show notes. The special White Code Investor deal gives you $500 back, in addition to awesome, low interest rates and the ability to set your terms on the loan. |
1:07.0 | They can lend in the District Columbia, and all states except Delaware, Kentucky, and Nevada. |
1:12.0 | Although they can only offer fixed rates in Alaska, Illinois, Minnesota, New Hampshire, Ohio, Tennessee, and Texas. |
1:18.0 | Check out Ernest today for lower student loan rates and get those things paid off. |
1:23.0 | Thanks so much for what you do. If you're on your way to work, you're home from work, you're working out whatever you're doing, and listening to this podcast, I want you to know that I appreciate the work you are doing. |
1:32.0 | Also, check out our updated Reddit page. We got a little bit of help recently from a Redditor who has made our Reddit page a lot more useful. There's the wiki there. There's some additional links that are helpful. |
1:43.0 | You can add flair to your posts, which puts a lot more color and organization on the page. So be sure to check out the Reddit if you haven't yet. If you haven't been there in a while, check it out again. |
1:52.0 | Another new addition we have on the website is our new financial advisor page. Over the years, we've had a lot more financial advisor sponsors. |
2:00.0 | And so as time has gone on, the pages become well longer and a little bit less useful. It just became unwieldy. |
2:07.0 | And so what we did recently over the last couple of months is reorganized it and put some premium sponsorships at the top where you can really get to know 10 of our financial advisor partners really well. |
2:20.0 | We have videos there. We're going to have links to them being on the podcast. You can really get a sense of who they are and how you can work with them before you call them up and set up your initial appointment. |
2:31.0 | So check that out. It's a lot more standardized. It's a lot more useful. And I think you'll you'll enjoy that either for yourself. If you need a financial advisor or if you just need some place where you know you can send your colleagues and your friends and even your family members and know that they're going to get good advice at a fair price. |
2:48.0 | In fact, as part of that, I'm going to start bringing these featured partners on to the podcast from time to time. And today we're going to have Daniel red come on the podcast. I'm excited to have him. So we're going to go into that interview now. |
3:01.0 | You'll learn a little bit more about him and then we're going to answer a few of your questions together. |
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