MtoM #255: PA Becomes a Millionaire and Finance 101: Backdoor Roth IRA Process
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 29 December 2025
⏱️ 23 minutes
🧾️ Download transcript
Summary
Today we are talking with a PA who has become a millionaire. This PA has a great story and is in his second career and having tons of success. He lives in a high cost of living area but is not letting that slow him down. He got his education paid for with the NHSC scholarship and has zero debt. Now that his career is cruising he has taken up his passion project of becoming a children's book author. After the interview we will be talking about the Backdoor Roth IRA process for Finance 101.
David Pedersen's Children's Book: Good Night, Alex https://a.co/d/8LxZar1
Goodman Capital is a premier real estate credit investment firm specializing in senior-secured, low loan-to-value lending on Class A properties in prime markets across the greater New York metro area. Founded on a family legacy dating back to 1987, Goodman has closed more than $850 million+ across 95+ loans with a track record of zero principal loss. Their flagship private mortgage REIT, Liquid Credit Strategy Fund I, delivered a steady 9% net dividend yield since inception at a very conservative sub-50% LTV. Invest in tax-efficient, high-yield, risk-adjusted debt investment strategies with Goodman Capital at https://www.whitecoatinvestor.com/goodman
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00:00 MtoM Podcast #255
03:57 PA Becomes a Millionaire
13:30 Advice For Others
16:26 Backdoor Roth IRA Process
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 Milestones to Millionaire podcast number 255. |
| 0:17.1 | PA becomes a millionaire. |
| 0:19.2 | Our sponsor for this episode is Goodman Capital, a premier real estate credit investment firm specializing in senior secured, low loan to value lending on Class A properties in prime markets across the greater New York metro area. Founded on a family legacy dating back to 1987, Goodman has closed more than $850 million across 95 plus loans with the track record of zero principal loss. |
| 0:41.8 | The flagship private mortgage reed liquid credit strategy fund one delivered a steady 9% net dividend yield since inception at a very conservative sub 50% LTV. |
| 0:52.4 | Invest in tax-efficient high yield risk-adjusted debt investment strategies with Goodman Capital |
| 0:57.2 | at whitecoatinvestor.com slash Goodman. |
| 1:00.6 | I feel like I got to decipher that ad for a few of you out there. |
| 1:04.9 | Let's spend just a second talking about that. |
| 1:07.8 | Goodman does debt investing, right? |
| 1:14.8 | So you're not owning the property, you're lending money to the people that own the property, but it's senior secure. What does that mean? That |
| 1:19.2 | means you're in first-leaning position. Meaning, if something goes bad, you have the right to foreclose |
| 1:24.7 | on the property. You're at the head of the line. You're at the top of the |
| 1:28.2 | capital stack, right? And then it's a low loan to value, meaning they don't lend 90% of the value of |
| 1:35.1 | the property. They lend dramatically less than that. And then, of course, Class A properties are the |
| 1:40.0 | nice ones, right? The ones that just got built in the last five or 10 years. So that's, |
| 1:44.7 | that's the type of investing. They do at Goodman. If you're interested in that sort of an |
| 1:48.5 | investment, you know, it's not going to give you 18, 25 percent returns, like maybe some of the |
| 1:55.2 | people doing value add equity real estate strategies are trying to aim for. You know, it's, |
| 2:00.3 | it's debt investing. |
| 2:01.6 | So 7, 8, 9, 10, 11%. |
... |
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