This is the Whitecode Investor Podcast, where we help those who wear the Whitecode get a fair shake on Wall Street.

We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.

Here's your host, Dr. Jim Dolly.

Welcome to Whitecode Investor Podcast number 13.

Today's podcast is sponsored by Credible, a marketplace for student loan refinancing.

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Thanks for what you do. You're probably on your way into work. Maybe you're on your way home. Maybe you're out running errands. Maybe you're running or at the gym.

But either way, what you do is difficult. You spent a lot of time training to do it. And what your daily work is really matters in the world.

Even though sometimes you don't feel like you're making a big difference, even a little bit of reassurance for a few patients makes a difference.

Our quote of the day today comes from Socrates. He says, employ your time in improving yourself by other men's writings so that you shall gain easily what others have labored hard for. A lot of wisdom there.

Today's podcast is going to deal with variable versus fixed rate loans. We're going to be talking both about student loans and about mortgages.

I think the classic example of what is usually recommended out there comes from Dave Ramsey, where he tells people to only buy a home on a 15 year fixed rate mortgage.

It's kind of grandma style advice to always get a fixed rate just in case rates go up.

But really got me thinking about it was when I was pretty darn proud of myself for getting a 2.75% fixed 15 year mortgage and then started talking to one of my buddies.

Who had a 0.9% variable rate mortgage. And I realized, wow, I'm paying a lot more than you even though I did everything right.

And I did the smart thing and I had excellent credit and I'm still paying over twice as much an interest on the same amount of money.

And so I started thinking a lot about variable loans and when they might be appropriate.

In reality, it's not a variable rate versus a fixed rate loan. It's a variable rate versus a variable rate plus an insurance premium.

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