This is the White Code Investor Podcast, where we help those who wear the White Code 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 Dove.

We'll be talking about what you should do as a new attending if you don't have a 401k.

But before we get into that, I want to thank you for listening.

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Today's episode is sponsored by Bob Bayani at DrDisabilityQuotes.com.

They are a truly independent provider of disability insurance planning solutions to the medical community nationwide.

Bob specializes in working with residents and fellows early in their careers to set up sound, financial, and insurance strategies.

Contact Bob today by email at info at drdisabilityquotes.com or by calling 973-771-9100.

Our quote of the day today comes from Rick Ferry, who said,

Gurus don't make money predicting markets. They make money marketing predictions. Isn't that the truth?

Well, our subject for today is introduced by Brian, who wrote in to ask,

I am in the very beginning stages of planning to save for retirement and invest, as I will finally be starting as an attending in August.

What should I do to start investing for retirement, etc? If I do not qualify for a 401k account through my employer for the first 12 months?

Ah, that mad rush the first year, where you have so many good things to do with your money, but not enough money to do them all.

I remember it well. It turns out that not having access to a 401k for a year really isn't that big of a deal, because there's so many other good things to do with your money.

I've certainly been in that situation, both with a 401k and with the defined benefit plan when I change jobs, and so I can talk a little bit about my experience with that.

Basically, I just looked for all the other good things I could do with my money and prioritize those until I was eligible for the retirement plans.

But think about all the stuff that you have when you come out of residency that you need money for.

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