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White Coat Investor Podcast

191: Don't Make These 10 Financial Mistakes

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.92.3K Ratings

🗓️ 31 December 2020

⏱️ 34 minutes

🧾️ Download transcript

Summary

There are 10 big financial mistakes that doctors make. We see these made repeatedly over and over again. If you can avoid these, you're going to have a great career and financial life. We often think we have to get everything right with our finances, but you really don't. You just have to avoid the big screw ups. If you have made one of these mistakes, fix it today and get back on track for a successful financial life. See the full show notes at https://www.whitecoatinvestor.com/dont-make-these-10-financial-mistakes-podcast-191

This podcast is sponsored by Bob Bhayani at drdisabilityquotes.com. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time White Coat Investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage to make sure it meets your needs or if you just haven’t gotten around to getting this critical insurance in place, contact Bob today by email [email protected] or by calling (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 Dolly.

0:18.0

This is White Code Investor, podcast number 191, the 10 biggest financial mistakes that doctors make.

0:24.0

We're recording this on December 8th. It's going to run on December 31st. Welcome back to the pandemic.

0:30.0

It feels like, right? We've been in this for months. I don't know about you, but I'm starting to regularly lose patients to COVID.

0:36.0

I had a patient come in that was sinkable this week. Heart rate in his 30s, blood pressure in the 50s.

0:44.0

And spent a lot of time trying to recess, stay him, get his blood pressure back up, his heart rate back up, discovered he'd had some sort of a heart attack.

0:53.0

It also seemed to be septic and sent him off to the cath lab. Of course, once he's in the cath lab, the coronavirus test comes back positive.

1:01.0

And unfortunately, he didn't get make it much past the cath lab.

1:06.0

Going to the ICU and doing codes periodically now as well on COVID patients.

1:11.0

So a lot of you are on the front lines with me. Thanks for what you do. It's not easy. And it's getting real old.

1:18.0

But you know what? By the time you hear this, I'm hoping a whole bunch of us have been immunized.

1:23.0

This is going to run at the end of the year. And it's been a long year. I'm sure we're already just turned the corner and start 2021 on a fresh note.

1:32.0

None of us, I think, are going to look back on 2020 as an awesome year. But, you know, here we go into the new year.

1:39.0

And I expect it's going to get a whole lot better and hopefully very quickly for all of us.

1:44.0

This particular episode is sponsored by Bob Bionny, a doctor disability quotes.com. He's an independent provider of disability insurance planning solutions to the medical community in every state and a long time white code investor sponsor.

1:56.0

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

2:02.0

If you need to review your disability insurance coverage to make sure it meets your needs or if you just haven't gotten around getting this critical insurance in place, contact bomb at drdisability quotes.com today.

2:12.0

You can email info at drdisability quotes.com or you can call 973 771 9100. All right. So our subject today for this new year is the 10 biggest financial mistakes that doctors make.

2:26.0

And I see these made repeatedly over and over and over again. And they're probably the most impactful financial mistakes that we see doctors make.

2:35.0

So let's talk about these. The first one is making a bad career decision. Maybe you went into medicine. You shouldn't have. Maybe you chose the wrong specially for you.

...

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