12: Investing in Taxable Accounts -- What You Need to Know

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 25 April 2017

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investing in Taxable Accounts -- What You Need to Know.

Ever wondered what you should do when you've maxed out your 401K, backdoor Roth IRA, and HSA but still want to save more? Dr. Dahle discusses the advantages to taxable accounts and what you need to know as you invest in them.

If you found this podcast useful, visit our blog at http://whitecoatinvestor.com/ for more personal finance and investing information. Find an engaging and helpful community in our forum at http://whitecoatinvestor.com/forums/

This episode is sponsored by DrDisabilityQuotes.com . Bob Bhayani, MBA, is managing partner for a truly independent provider of disability insurance planning solutions to the medical community nationwide. Bob regularly lectures at hospitals and faculties regarding creation of income protection and risk management solutions. Bob has specialized in working with residents and fellows early in their careers to set up sound financial and insurance strategies. Bob has leveraged his decades worth of relationships with top insurance companies to deliver discounts to all eligible applicants. DrDisabilityQuotes.com is an interactive website where physicians are able to gain a wealth of knowledge regarding disability insurance and also run instant life insurance comparison quotes from various companies. For your insurance needs contact Bob at [email protected] or 973-771-9100.

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 is your host, Dr. Jim Dalton.
0:18.0	Welcome to the White Code Investor Podcast number 12.
0:21.0	This episode is sponsored by Bob Bayani at DrDisabilityQuotes.com.
0:26.0	They are a truly independent provider of disability insurance planning solutions to the medical community nationwide.
0:32.0	Bob specializes in working with residents and fellows earlier in their careers to set up sound financial and insurance strategies.
0:39.0	Contact Bob today by email at infoatdrdisabilityquotes.com or by calling 973-771-9100.
0:49.0	Thanks for what you do. What you do matters. Your daily work is important and that is continually reinforced to me as I can.
0:55.0	My daily work is important to me as I can do my daily work in the hospital.
1:01.0	I was in there yesterday and I'm amazed sometimes at just how much work doctors are doing and wedging into such a short period of time.
1:09.0	So if you're on your way into work or even on your way home, even if nobody else said thank you today, at least I can tell you thank you for what you do.
1:16.0	Our quote of the day comes from David Swenson, the manager of the Yale Endowment portfolio.
1:21.0	He said, ironically upon acquiring sufficient information to assess the skill of an investment service provider, individuals end up empowered to take control of their portfolios and make their own decisions.
1:32.0	Basically he's saying by the time you know enough to pick a good advisor, you know enough to do it yourself.
1:37.0	Our subject today is going to be taxable accounts. And by taxable I mean a typical non-qualified brokerage or mutual fund account.
1:46.0	When people talk about a non-qualified account, they're talking about qualified with the IRS.
1:51.0	So a qualified account is a 401k or an IRA or something that gets some sort of tax break from the IRS.
1:57.0	But a non-qualified account doesn't get those tax breaks. It's just a fully taxed account.
2:03.0	And I hear from people a lot that wonder, what can I do now that I've maxed out my 401k and backdoor Roth IRA and HSA?
2:11.0	I'd like to save more, but I don't know what to do. Should I go buy an annuity or whole life insurance or something like that?
2:17.0	And it's like they've never heard of a regular old investing account.
	...

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