WCI #229: Retirement Accounts Q&A
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 23 September 2021
⏱️ 37 minutes
🧾️ Download transcript
Summary
In this week's episode we are taking listener questions regarding retirement accounts. We talk about 403(a), 403(b), and 457(b) accounts and what the maximum contributions for those are. We cover defined benefit plans vs a mega backdoor roth and when to pick which or both options. We answer questions about taxable accounts and catch-up contributions as well as differences in employer contributions and solo 401(k) accounts and when you can make contributions for a spouse. If you have questions about retirement accounts you will find some answers here.
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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
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| 0:00.0 | This is the Whitecode Investor Podcast, where we help those who wear the Whitecode 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 Whitecode Investor Podcast number 229, a Q&A on retirement accounts. |
| 0:24.0 | This story time brought to you by LocomStory.com. Today we'll be reading one job, two jobs. |
| 0:29.0 | One job, two jobs. Red blob, no job. Lective doc, emergency doc. Summon overstocks, summon out of stock. |
| 0:35.0 | This doc is too abused. This doc is underused. This doc can't get sick. Say, let's try a brand new trick. |
| 0:41.0 | For all the docs about to cry, here's an idea you can try. Look into a LocomTenance assignment. A really great option you might find it. |
| 0:48.0 | With all this new info, trapped up in your thinker, go to LocomStory.com and use your mouse to tinker. |
| 0:53.0 | It's here you'll find the unbiased answers you're after, so you can decide if LocomTenance is your next chapter. |
| 0:59.0 | Alright, welcome back to the podcast and thanks for what you do, especially those of you on the front lines of our ongoing COVID pandemic, |
| 1:07.0 | which never seems to end these days. I saw a statistic the other day that said 75% of Americans have had at least one vaccination, |
| 1:14.0 | but it's amazing how rampant this pandemic can be in just a quarter of the population. |
| 1:20.0 | So for those of you feeling burned out, this too shall pass. It will get better. |
| 1:26.0 | People have kind of made a decision at this point. Either get a vaccine or get the disease, but eventually they will have all had it. |
| 1:33.0 | And hopefully we don't just keep getting it over and over and over again with all the different variants. |
| 1:38.0 | So hang in there. We appreciate what you do, even though you're not getting quite as many, you know, don't sit into the hospital as you were a year and a half ago. |
| 1:46.0 | There's still a lot of people out there thinking about you and grateful for your sacrifices. |
| 1:51.0 | Any of you in the high income earning profession have made significant sacrifices to do your job. |
| 1:57.0 | And I've knowns told you thanks for that today. Let me be the first. |
| 2:01.0 | Alright, our quote of the day today comes from James Lane, who's actually going to be one of the keynote speakers at WCI Con this year. |
| 2:08.0 | He's a CPA and a JD and well known for, you know, pain taxes later, Roth conversions, those sorts of things. |
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