WCI #191: Don't Make These 10 Financial Mistakes

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 31 December 2020

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

There are 10 big financial mistakes that doctors make. We see these made repeatedly over and over again. If you can avoid these, you're going to have a great career and financial life. We often think we have to get everything right with our finances, but you really don't. You just have to avoid the big screw ups. If you have made one of these mistakes, fix it today and get back on track for a successful financial life. See the full show notes at https://www.whitecoatinvestor.com/dont-make-these-10-financial-mistakes-podcast-191

Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted 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 https://www.whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. 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 Code Investor Podcast, where we help those who wear the White Code 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.
0:18.0	This is White Code Investor, podcast number 191, the 10 biggest financial mistakes that doctors make.
0:24.0	We're recording this on December 8th. It's going to run on December 31st.
0:28.0	Welcome back to the pandemic. It feels like, right? We've been in this for months.
0:32.0	I don't know about you, but I'm starting to regularly lose patients to COVID.
0:36.0	I had a patient come in that was sinkable this week.
0:40.0	Heart rate in his 30s, blood pressure in the 50s.
0:44.0	And it spent a lot of time trying to recess, stay him, get his blood pressure back up, his heart rate back up, discovered he'd had some sort of a heart attack.
0:54.0	It also seemed to be septic and send him off to the cath lab.
0:58.0	Of course, once he's in the cath lab, the coronavirus test comes back positive.
1:02.0	And unfortunately, he didn't get make it much past the cath lab.
1:07.0	Going to the ICU and doing codes periodically now as well on COVID patients.
1:11.0	So a lot of you are on the front lines with me. Thanks for what you do.
1:15.0	It's not easy. And it's getting real old.
1:19.0	But you know what? By the time you hear this, I'm hoping a whole bunch of us have been immunized.
1:23.0	This is going to run at the end of the year and it's been a long year.
1:26.0	I'm sure we're all ready to turn the corner and start 2021 on a fresh note.
1:32.0	None of us I think are going to look back on 2020 as an awesome year.
1:36.0	But you know, here we go into the new year.
1:39.0	And I expect it's going to get a whole lot better and hopefully very quickly for all of us.
	...

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