WCI #159: Financial Infidelity

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 21 May 2020

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Financial infidelity can mean many things. I have talked for a long time about the important of being on the same page financially with your spouse. It is so important to be open with each other as far as your finances go. If you are not doing this together, you are almost surely not going to be successful. For this show I have a guest that shares her story of financial infidelity, a spouse who was hiding a gambling addiction. See the full show notes here https://www.whitecoatinvestor.com/classic-blog/. She wanted to come on the show to share her experience so that others in similar situation would not feel so isolated. A lack of support when faced with a spouse with an addiction can be a big obstacle to getting help. She shares her story along with resources where you can turn for help if you are dealing with addiction in your family. We also discussed what she did to protect herself financially, and in her recovery, so that she can thrive after a worst-case financial scenario like she experienced. I would hope that no other listeners and readers are going through something as difficult as this, but as we discussed in this episode, it is unfortunately more common than we think. Hopefully this show can reach those who could benefit from hearing this doctor's experience.

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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 is your host, Dr. Jim Dolly.
0:15.0	This is White Coat Investor Podcast
0:20.0	Number 159, Financial Infidelity, a Personal Story.
0:24.0	If you're finding our podcast informative and helpful,
0:26.4	we would encourage you to sign up for our monthly newsletter.
0:28.9	It is totally free and includes useful, actionable
0:31.9	information not available on the regular blog post or this
0:35.3	podcast.
0:36.3	It's almost like being in a secret club, the kind of club that can boost your knowledge and enhance
0:40.1	your wealth at the same time with no strings attached.
0:43.4	Sign up today at whitecoat investor.com slash newsletter.
0:46.5	You can do this and the white code investor can help.
0:49.6	All right, let's do our quote of the day.
0:51.1	This one comes from Jeff Steiner, D.O. He's a doc. He's an author of a financial
0:55.2	book and he said a budget is the most powerful and cheapest skill you can use to manage your
0:59.7	finances. And I totally agree with that. If you don't have a budget, that's one of the first things you should line up in your financial plan.
1:07.0	Thanks so much for what you do. It's been an interesting time in this pandemic.
1:10.0	There's a lot of you that are out of work, either lower volumes in your private practices, being
1:15.6	furloughed without pay, being asked to take pay cuts.
1:18.3	It's been interesting.
	...

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