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White Coat Investor Podcast

MtoM #252: Psych Resident Maxes Out Spousal and Personal IRAs and Finance 101: Boosting Your Income

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Business, Health & Fitness, Investing, Medicine

4.92.3K Ratings

🗓️ 8 December 2025

⏱️ 24 minutes

🧾️ Download transcript

Summary

Today we are talking with a psych resident who has maxed out his personal and spousal IRAs for two years in a row. He found a lucrative moonlighting gig that has helped increase his income. His secret to success is getting educated early so you can get off on the right foot. He shows that you can start building your wealth long before you have reached your max income. After the interview we talking about boosting your income for Finance 101.

As a white coat, you have valuable knowledge. Various companies want that knowledge. And they're willing to pay you for it! That's why we've put together a list of recommendations for companies that pay you to take surveys. If you're looking for a profitable side gig for not too much effort, getting paid for surveys could be the perfect solution for you. You can make extra money, start a solo 401(k), and use your medical knowledge to impact new products. One of the WCI columnists makes an extra $30,000 a year just doing these surveys. Sign up today and use a fraction of your downtime to make extra cash! Go to whitecoatinvestor.com/MDSurveys

The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

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00:00 MtoM Podcast #252
03:05 Psych Resident Maxes Out Spousal and Personal IRAs
15:30 Advice For Others
18:20 Boosting Your Income as a Doctor

Transcript

Click on a timestamp to play from that location

0:00.0

This is the White Coat Investor podcast, Milestones to Millionaire,

0:04.2

celebrating stories of success along the journey to financial freedom.

0:13.2

This is Milestones to Millionaire podcast number 252,

0:16.3

psychiatry resident, maxes out personal and spousal Roth IRAs.

0:20.4

As a white coat, you have valuable knowledge.

0:22.9

Various companies want that knowledge, and they're willing to pay you for it.

0:26.9

That's why we put together a list of recommendations for companies that pay you to take

0:30.4

surveys.

0:31.4

If you're looking for a profitable side gig for not too much effort, getting paid for surveys

0:35.6

could be the perfect solution for you.

0:37.4

You can make

0:37.9

extra money, start a solo 401k, and use your medical knowledge to impact new products. One of the

0:43.1

WCI columnists has made an extra $30,000 in just a year doing these surveys. Sign up today,

0:49.0

use a fraction of your downtime to make extra cash, and sign up at whitecodeinvestor.com slash MD surveys.

0:55.6

DO surveys also works. You can do this, of course, and we're here to help you do it.

1:02.3

All right, we've got a recommended list for tax strategists that you should be aware of.

1:08.1

If you go to whitecoatinvestor.com slash tax dash strategists, you can get there or just go

1:13.1

under the recommended tab of whitecodeinvestor.com.

1:15.8

But for many doctors, particularly employees, your tax situation can be very straightforward.

1:20.4

And we highly recommend the benefits of at least ones using turbotax or a similar software

1:25.3

program, do your own taxes and kind of learn the parts of the tax code

1:28.2

that are relevant to you.

...

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