MtoM #211: Psychiatrist Gets Back to Broke and Finance 101: The Dangers of Performance Chasing

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 24 February 2025

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we are chatting with a psychiatrist who is back to broke. He said he owes his financial awakening to his wife who and his medical school friends who introduced him to WCI. He quickly turned things around and started saving an emergency fund and opened a Roth IRA. He is working towards PSLF and is currently saving for a down payment while also investing and growing wealth. His biggest piece of advice is to have a great partner that you are on the same page with. Together you can do anything! After the interview we will be talking about the dangers of performance chasing.

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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!

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Transcript

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0:00.0	This is the White Coat Investor podcast, Milestones to Millionaire, celebrating stories of success
0:06.0	along the journey to financial freedom.
0:13.2	This is Milestone to Millionaire podcast number 211. Psychiatrist gets back to broke.
0:19.3	One of the most underrated financial moves in medicine is working locum tenants.
0:22.6	It pays significantly more on average and you can work Locum's full-time or on the side of your full-time.
0:27.6	When you work with Comp Health, the number one staffing agency, they cover your housing and travel costs,
0:32.6	which on top of higher pay really adds up.
0:35.6	Locams also gives you more control of your career, allowing you to go where
0:38.3	you want, when you want, with a schedule that works for you. It's the perfect way to get ahead
0:42.5	financially while getting focused on what you love. Whether it's Locum tenants or a regular
0:47.1	permanent position, go to whitecoatinvestor.com slash comp health to build your career your way with the power
0:53.5	of comp health. All right, welcome back to
0:57.1	the milestones podcast. The podcast, it's all about you. If you want to be on this podcast, we'd love for
1:03.0	you to come on and share your milestone. Whatever milestone it might be with others and inspire them
1:08.8	to do the same. You can apply whitecoatinvestor.com
1:11.5	slash milestones. By the way, as this drops, this drops on Mondays, these Milestones
1:18.7	podcast drop on Mondays. I'm probably already in San Antonio by the time you're listening to this.
1:25.0	This week is WCICon. It's a physician wellness and financial literacy conference.
1:30.8	And, you know, it starts up on the 27th with our, with our, you know, opening social.
1:37.0	And then 28th and the, what, first and second, I got the dates right are the days of the actual content at the conference.
1:45.6	And your schedule might not allow you to now come in person.
1:49.5	I mean, if you're down there in San Antonio, come on in in person.
	...

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