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White Coat Investor Podcast

WCI #209: Travel Hacking with Physician on Fire

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.92.3K Ratings

🗓️ 6 May 2021

⏱️ 45 minutes

🧾️ Download transcript

Summary

For FIRE week on the White Coat Investor podcast, we have a guest host, Physician on Fire https://www.physicianonfire.com/credit-cards/ , discussing travel hacking and answering listener questions. You can earn free travel and he shows you how with regular spending and credit card welcome bonuses. Now credit cards are for convenience and only use them if you are disciplined enough to pay them off every month. Use autopay for all your cards and make sure you are getting at least 1.5% to 2% back on your everyday purchases. If you’re willing to pick up a new card a couple of times a year, and maybe cancel a card or two if you don’t think a card is worth the annual fee, you can get a LOT more bang for your buck by taking advantage of welcome bonuses. Let Leif show you how in this episode.

He also answers many questions about bonds and their role in your portfolio, as well as maximizing the 199A deduction, turnover rates in index funds, and understanding your taxes on side income.

This podcast is sponsored by Bob Bhayani at https://drdisabilityquotes.com He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob today at https://drdisabilityquotes.com , by email [email protected] or by calling (973) 771-9100

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

Click on a timestamp to play from that location

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

Welcome to Fire Week at the White Code Investor.

0:22.0

You were probably expecting the voice of Dr. Dolly, but instead you got the voice of me, Dr. Dollyne, and I apologize for that.

0:32.0

So this is Leif Dollyne from Physician On Fire, filling in for the good Dr. Dolly as he floats down the Colorado River through the Grand Canyon for a few weeks.

0:42.0

This podcast is sponsored by Bob Iyani at drdisabilityquotes.com. He is an independent provider of disability insurance planning solutions to the medical community in every state in a long-time White Code Investor sponsor.

0:55.0

He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies.

1:02.0

If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob today at drdisabilityquotes.com.

1:12.0

By email info at drdisabilityquotes.com or by calling 973-771-9100.

1:22.0

Our quote of the day comes from Bill Schulteiss, author of the coffee house investor. He says using past performance numbers as a method for choosing mutual funds is such a lousy idea that mutual fund companies are required by law to tell you it is a lousy idea.

1:40.0

That goes back to the past performance is not indicative of mutual results and it is true. So I want to take a quick minute to thank you for what you do just as Dr. Dolly likes to do.

1:55.0

You may be a physician, taking care of patients, you might be another health care worker, also taking care of patients, identity taking care of patients, teeth, and maybe a veterinarian taking care of our furry friends.

2:08.0

Even if you don't work in the medical community in any way, you're probably maybe a parent to a son or daughter. You are a son or daughter to someone maybe taking care of aging parents. Maybe you're just a good neighbor.

2:22.0

In some way, shape or form, I'm sure you're taking care of someone and during this lengthy pandemic, we've all had to take care of one another. We're coming up on month 15. And I want to thank you for caring for COVID patients. If that's what you've been doing, if you've gotten vaccinated, thank you for getting that shot.

2:42.0

I've personally been giving hundreds of these shots now to grateful recipients up here in Northern Michigan where we're living, which is something I plan to keep on doing. So thank you for whatever part you are doing to help us get past this nasty pandemic.

2:59.0

Now, the white coat investor has a big announcement coming up this month. So watch for that, especially if you are someone who loves WCI swag may tempt. There will be more details on the blog. So keep a lookout for that.

3:14.0

So today's article is all about how we earn a free travel. I love to travel. I love free things. So combining the two is right at my alley. It's in my wheelhouse. So in a one way I've done that is by responding to the overhead call from a nervous flight attendant stating that a passenger needs medical attention.

3:37.0

Believe it or not, that's happened now four times in the last five or six. Yeah, no, it goes back to my honeymoon. We're on the way to my honeymoon on the way to Alaska. And a patient had fainted.

3:49.0

I answered two calls right around the first WCI conference. I think one was on the way back and another one the later that same week.

3:57.0

And then more recently on another flight on frontier. Now usually they give some decent perks if you actually answer those calls and provide some medical care. I've started two IVs at 36,000 feet both in sinkable patients who were dehydrated and remaining lightheaded.

4:18.0

And I've gotten as much as I think the first time this was back in 2006. I was rewarded nicely with $600 travel voucher for my wife and me more recently they've gotten a bit stingier.

...

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