WCI #107: The Four Pillars of Investing with Bill Bernstein, MD
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 23 May 2019
⏱️ 55 minutes
🧾️ Download transcript
Summary
I first met Bill Bernstein at the Bogleheads Conference in 2008. I was a Bernsteinhead before I was ever a Boglehead. The Four Pillars of Investing was certainly one of the first good books on investing I ever read and had a huge influence on my financial outlook. This interview with Dr. Bernstein is chalk full of so much financial wisdom that every investor should know.
I estimate that 80% of doctors need, want, and should use a financial advisor and/or an investment manager. Some investment gurus such as Dr. William Bernstein think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it—just make sure you are getting good advice at a fair price. If you need help updating your financial plan or just getting one in place, check out our list of recommended financial advisors at https://www.whitecoatinvestor.com/financial-advisors. 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 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 is for you!
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Transcript
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| 0:00.0 | This is the White Coat Investor Podcast, where we help those who wear the white coat 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's your host, Dr. Jim Dolly. |
| 0:14.0 | Welcome to White Coat Investor Podcast number 107, an interview with William Bernstein, MD. |
| 0:24.0 | Getting quality, disability, and life insurance should be the first financial chore for a doctor |
| 0:28.8 | to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status, and one |
| 0:34.7 | and seven doctors get disabled at some point during their career. |
| 0:38.2 | Because these policies can only be purchased through brokers, we put together a list of vetted |
| 0:41.8 | agents who are experienced with working with the specific needs of medical professionals and who have your best interest at heart. If you have questions about insurance and what kind of policies would be the best fit for you, check out our insurance recommended list at |
| 0:54.4 | whitecode investor.com slash insurance, and feel the peace of mind that comes with knowing you have |
| 0:59.2 | the optimal policy in place. You can do this and the White Code investor can help. |
| 1:03.4 | Thanks so much for what you do. Your work is not appreciated enough. I know you're on your |
| 1:08.1 | way into work, maybe your way home from work, maybe you're out running or |
| 1:11.6 | you're at the gym on a treadmill or something, maybe you're preparing food in the kitchen, I don't know. |
| 1:16.0 | However, you listen to these podcasts. |
| 1:18.0 | But I know you probably had a hard day at work in the last day or two, and probably nobody told you thank you while you were there. |
| 1:23.4 | So let me be the one who thanks you for your patients. |
| 1:26.8 | Sometimes they just don't thank you because they're too worried about the medical condition they have or |
| 1:31.3 | they're too frustrated at the system that you and I |
| 1:33.8 | both have to deal with and they do as well. So let me be the one to tell you thank you |
| 1:38.8 | for them for everything that you're doing and all the years of education and training you did all the thankless nights that you did all those calls you've taken |
| 1:47.8 | I appreciate what you're doing. Be sure to check out our list of disability insurance agents. If you are in need of disability |
... |
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