WCI #304: Roth's, 401(k)s and 529s
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 2 March 2023
⏱️ 65 minutes
🧾️ Download transcript
Summary
We always know when it is the beginning of the year because we get so many questions about retirement accounts and everything related to them. This episode answers more of your questions about employer and solo 401(k)s, 529s, backdoor Roths, the difference between traditional and roth and so much more.
At some point in our financial lives, it will be time to buy a home. A physician mortgage can be a good vehicle for a young doctor who's just out of school and has a more effective place to use their money than on a big down payment. These loans allow doctors to secure a mortgage with fewer restrictions and a lower down payment than a conventional mortgage. But if you're further advanced in your career or deeper into your journey to financial freedom, buying a home with a conventional mortgage and then, later on, potentially refinancing that loan to a better rate with a shorter time frame could be a great move. Wherever you are in your financial journey, make sure you use the mortgage that will be most financially beneficial for you. Hop over to our recommended tab to learn more about all of your mortgage and refinancing options at https://www.whitecoatinvestor.com/mortgage. 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 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 White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street. |
| 0:05.3 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:15.0 | Hello, and welcome to the White Code Investor Podcast. This is your host, Dr. D'Shaith Sath, and I'm here with Dr. Jim Daly. How are you, Jim? |
| 0:22.0 | I'm doing great. |
| 0:23.5 | Good to see you. |
| 0:25.0 | At first, this episode is sponsored by LocomStory. Everyone has a story, different needs, wants, and goals, and how to attain them. Your story determines your solution. Whatever your solution and story, LocomTenance should be part of that conversation. |
| 0:38.0 | How do you find out if Locom's is a good option for you? Go to an unbiased, informative source like LocomStory.com. |
| 0:45.0 | You'll learn all the ins and outs of Locom's details and travel and housing, assignment coordination, tax information, and more. |
| 0:52.0 | You'll also hear first-hand stories from Locom's positions from all walks of life, so you get a bigger picture of the diverse options. |
| 0:59.0 | Get a comprehensive view of Locom's and decide if it's right for you at LocomStory.com. |
| 1:04.0 | Awesome. |
| 1:07.0 | Welcome to the podcast, everybody. By the way, we're recording this the day before Valentine's Day. |
| 1:13.0 | But as this drops on March 2nd, we are not at home. We're in Phoenix. This is WC icon week. |
| 1:21.0 | I want to reflect that excitement, even though we're not actually there yet. |
| 1:26.0 | We're back right now. We're running around like chickens with our heads cut off, desperately preparing for it. |
| 1:31.0 | But as you hear this, it's basically day one of the talks at WC icon. My talk today is on spending in retirement. |
| 1:39.0 | So it's a great, great conference. You can actually still come. You can't come in person, although if you walked out, we might figure out a way to get you in. |
| 1:48.0 | But you still come virtually. You can sign up for that. Even today, WCI events.com. If you still want to come, you can come as a virtual guest to the conference. |
| 1:58.0 | I'm so excited. It's going to be sunny. We're going to have awesome speakers. Jim, you're going to be talking. Christine Benz is going to be there. |
| 2:05.0 | We're going to have basically the who's who of physician finance there. I'm so excited to hear all the talks and the wonderful information that's going to be there to be awesome. |
| 2:14.0 | Let's be honest, you know, the networking and the relaxation and wellness and all that is just as good as the talks. So looking forward to the wellness for sure. |
| 2:24.0 | All right. But now as we step away from that happy place, I want to talk a little bit more with this here this time about this comment. |
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