115: How to Fix Your Investment Mistakes

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 18 July 2019

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Unlike our typical shows where we answer questions people have pre-recorded, this episode will be a bit of a back and forth with a listener who had a lot of questions. She is missing one key element that could answer many of the questions she asks in this episode. It is a written investing plan. 95% of people out there are in the same boat. They come to me with a question of, "Should I buy this fund or this fund?" I'm like, "For what? What's the plan? What's the goal?" Without the plan it is hard to get your finances organized and on track for your goals. We talk about how you can create a written investing plan in this episode. We discuss how to set reasonable goals and what should be your next level in personal finance. Whether you are just starting out in your journey to understanding your finances or you have listened to all 114 podcast episodes before this, I think you will find something valuable you can apply to your financial life in this episode. See the show notes at https://www.whitecoatinvestor.com/

This episode is sponsored by Alexis Gallati of Gallati Professional Services – Alexis is not your typical tax advisor. With over 15 years of experience, she has been helping physicians all over the country save money on their taxes. As the spouse of a busy physician, she understands the burden of high tax payments physicians incur during their lifetime. Not only will she create a high level strategic tax plan for you, guaranteeing money in your pocket, but Alexis will proactively work with you throughout the year to maintain your tax plan, prepare your annual tax returns, and represent you in case of an audit. The investment in her tax planning services is a fixed-price agreement and her tax maintenance packages are a flat monthly fee. If you’re tired of complex tax jargon and giving away most of your paycheck to the IRS, visit Alexis’ website at https://www.gallatitax.com/ today to schedule your free initial consultation.

The https://www.whitecoatinvestor.com/scholarship/ competition is heating up again. This is an essay contest for medicine, osteopathy, podiatry, dentistry, law, pharmacy, optometry, physician assistant, nurse practitioner, CRNA, veterinarian students. Submit your essays to [email protected]

The White Coat Investor Financial Bootcamp is out in audio book now. Check it out at https://www.whitecoatinvestor.com/BootcampAudible

Transcript

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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's your host, Dr. Jim Dolly.
0:18.0	Welcome to White Code Investor Podcast number 115, how to fix your investing mistakes.
0:23.0	This episode is sponsored by Alexis Galati of Galati Professional Services.
0:27.0	Alexis is not your typical tax advisor. With over 15 years of experience, she has been helping physicians all over the country save money on their taxes.
0:33.0	As the spouse of a busy physician, she understands the burden of high tax payments if physicians incur during their lifetime.
0:39.0	Not only will she create a high-level strategic tax plan for you, guaranteeing money in your pocket, but Alexis will proactively work with you throughout the year to maintain your tax plan, prepare your annual tax returns, and represent you in case of an audit.
0:51.0	The investment in her tax planning services is a fixed price agreement, and her tax maintenance packages are a flat monthly fee.
0:57.0	If you're tired of complex tax jargon and giving away most of your paycheck to the IRS, visit Alexis's website at www.galatitax.com today to schedule your free initial consultation.
1:09.0	If you've been waiting for the audible version of the White Code Investors financial bootcamp, it is out on Amazon.
1:15.0	If you're trying to find something to listen to on those days when the White Code Investor podcast doesn't come out, you might find financial bootcamp fits that bill just fine.
1:29.0	It's actually cheaper than buying the paperback book just because of the way that Audible forces us to price our products.
1:37.0	But hey, that's good for you if you like listening to that sort of stuff.
1:41.0	White Code Investors scholarship competition is heating up again. This is an essay contest essentially.
1:48.0	Medical students, dental students, law students, several other professions can submit their essays, their applications if you will, to us, and they'll be judged by independent judges who are all of you readers and listeners.
2:02.0	And then we're going to give away over $90,000 this year in cash and prizes to the 10 winners.
2:08.0	So this is a pretty awesome thing we do each year. It's gotten bigger and bigger each year.
2:12.0	Last year we had 740 essays to read, which is good because we had like 65 judges.
2:18.0	So if you want to apply for it, you have to be a full-time student at a brick and mortar school, professional school.
2:24.0	The professions that are allowed to enter, they've slightly changed this year.
2:29.0	But it includes medicine, osteopathy, podiatry, dentistry, law, pharmacy, optometry, PAs, nurse practitioners, again, brick and mortar schools, CRNAs.
	...

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