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White Coat Investor Podcast

MtoM #86 - Multimillionaire OBGYN

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Business, Health & Fitness, Investing

4.82.4K Ratings

🗓️ 3 October 2022

⏱️ 19 minutes

🧾️ Download transcript

Summary

This physician has reached an 8 figure net worth by paying off debt early and investing in himself with a surgery center. His advice is to not try to keep up with appearances, pay yourself first, and be the tortoise not the hare. You will win the race. He is clearly financial independent but continues to practice medicine. If that sounds like you, check out things to do besides retire when you reach financial independence. https://www.whitecoatinvestor.com/8-things-to-do-with-financial-independence-besides-retire-early/ 

If you're looking to Boost Returns, Lower Taxes & Build Wealth, join the WCI monthly Real Estate Opportunities list for tips and strategies to maximize your real estate returns and for introductions to exclusive investment opportunities. Expect educational emails that introduce you to syndicators, fund companies, online courses, and online real estate platforms. Go to https://www.whitecoatinvestor.com/reopportunities to sign up today. You can do this and The White Coat Investor can help.

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 for 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 Whitecode Investor Podcast, milestones to millionaire, celebrating stories of success

0:05.6

along the journey to financial freedom.

0:12.7

Hi and welcome to another episode of the milestones to millionaire podcast on the Whitecode Investor.

0:17.9

This is podcast number 86, and multi-millionaire will begin.

0:22.4

Today's podcast is sponsored by Peak Housing Read, an investment opportunity that enables you

0:28.0

to passively invest in real single-family rental units at scale.

0:33.3

With a minimum investment of $25,000, the Peak Housing team can immediately put your money to

0:39.0

work across seven rapidly growing markets in the United States. To learn more about the Peak Housing

0:44.8

Read, visit www.whitecodeinvestor.com slash peak. I'm so excited to introduce our guest to you today.

0:53.6

He is an OBGYN who has reached an eight-figure network, a huge accomplishment. Welcome Dr. Allen.

1:01.7

Thank you. Thank you for having me on. Absolutely. Can you please tell us a little bit about yourself

1:07.6

and how far you are out of school? Well, I'm from the Midwest and went to state medical,

1:13.5

undergrad state medical school in the Midwest. I graduated medical school in 1993, finished residency in

1:20.8

1997. I had a four-year commitment to the military and actually started private practice in 2001.

1:28.4

Thank you for your service. Thank you very much. It was an honor.

1:32.8

So you've been practicing now for 21 years? 21 years in private practice, 19 years in the

1:41.6

private group that I'm with now. Wonderful. And can you tell us what your approximate net worth is now?

1:47.4

It's approximately $12 million dollars. Oh my gosh. Amazing. And what's that divided up into?

1:57.7

A million is in home equity and a paid-off home. Have about five million in taxable accounts,

2:07.6

mutual funds, ETFs, about 400,000 of that would be in a private equity and maybe a hundred thousand

2:14.8

in bonds. Have about 1.5 million in a pre-tax, a proper sharing plan through work,

2:24.4

and about another million in a Roth 401k and backdoor Roths to clean my wife and myself.

...

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