WCI #195: Investing Lessons from Christine Benz of Morningstar

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 28 January 2021

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Morningstar has been around for 36 years and is by far the best place to get information about all of the mutual funds available. Our guest in this episode, Christine Benz is the director of personal finance and a senior columnist at Morningstar. She is the author or co-author of five books, including 30-minute Money Solutions, which we will be given away at the WCI Conference https://www.whitecoatinvestor.com/conference in March, where she is our keynote speaker. Christine has had a 30 year career at Morningstar so lots of investing lessons to be learned from her. See the full show notes here http://whitecoatinvestor.com/investing-lessons-from-christine-benz-of-morningstar-podcast-195 . In this interview we discuss the star rating system for mutual funds that Morningstar uses, her experience educating women investors vs men, owning individual stocks and cryptocurrency, complacency about equity risk these days, whether you should change anything about your investing plan with a new president in office, and what lessons we should take from our experience during this pandemic.

Did you know that the White Coat Investor not only has a podcast and a blog but several books that will help you on your way to financial independence. These books cover topics such as asset protection and minimizing your taxes to keep more of your hard earned money. They discuss plans for insurance, housing, spending, student loan elimination, investing and estate planning. You can learn how to become a millionaire within 5-10 years of leaving residency and how to invest in a sensible low cost and effective manner with or without the assistance of a financial advisor. There is even a book geared directly toward medical and dental students so you can start optimizing your finances early in your professional journey. Find the book that is right for you at the WCI store at https://www.shop.whitecoatinvestor.com or on Amazon. 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.
0:18.0	This is White Coat Investor Podcast number 195, Investing Lessons from Christine Benz.
0:24.0	Let's see. We're recording this on the 21st of January. It's going to run next week on the 28th of January.
0:30.0	So pretty short interval here, which is good. It helps us keep stuff current for you.
0:36.0	Did you know that the White Coat Investor not only has a podcast and a blog, but several books that will help you on your way to financial independence?
0:43.0	These books cover topics such as asset protection and minimizing your taxes to keep more of your hard-earned money.
0:49.0	They discuss plans for insurance, housing, spending, student loan elimination, investing, and estate planning.
0:55.0	You can learn how to become a millionaire within five to ten years of leaving residency, and how to invest in a sensible low cost and effective manner with or without the assistance of a financial advisor.
1:05.0	There's even a book geared directly toward medical and dental students, so you can start optimizing your finances early in your professional journey.
1:12.0	Find the book that is right for you at the WCI store at shop.whitecoatinvestor.com or on Amazon.
1:18.0	You can do this, and the White Coat Investor can help.
1:21.0	All right, our quote of the day today comes from Rick Fair.
1:24.0	I said, I find that newly enlightened self-managed investors can spend a considerable amount of time and energy trying to figure out a perfect portfolio by seeking a perfect asset allocation, perfect products, perfect tax efficiency, and a perfect maintenance methodology.
1:37.0	Don't bother. I think there's a lot of truth to that. In investing, good enough is good enough.
1:44.0	All you need is a reasonable plan that's funded adequately.
1:48.0	Thanks so much for what you do out there. This is not an easy time to be a doc, to be a high income professional of any kind.
1:54.0	The economy has taken some pretty serious hits, even among the relatively stable profession of medicine.
1:59.0	And it's been a rough go for a lot of people, especially as they've dealt with illnesses on their own, illnesses and deaths of colleagues and partners.
2:08.0	And hopefully we're getting close to the light at the end of the tunnel here.
2:12.0	A couple of things I want you to know about. We have WCI come coming up first week of March.
	...

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