WCI #308: Overcoming a Late Start
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 30 March 2023
⏱️ 49 minutes
🧾️ Download transcript
Summary
Today we talk to a doc who got a late start on his financial journey. He shares his experience of over inflating his life style for nearly 20 years after residency before having his financial awakening. He finally realized that if he ever wanted to retire he and his family would have to make some big changes. He talks about the struggle of deflating his lifestyle but the overall peace and happiness that has come from getting his financial ducks in a row. He shares his story in hopes to help inspire other late starters out there that it is not too late to change your habits and reach financial independence.
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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 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 | This White Code Investor Podcast number 308, overcoming a late start. |
| 0:18.9 | Right now, qualifying medical professionals can refinance their private student loans with an up to 1% rate discount. |
| 0:24.6 | Still a resident, the SOPA student loanary financing you could pay just $100 a month during your residency. |
| 0:30.6 | As a SOPAI member, you'll have access to a powerful set of tools, education, even financial planners to help you not only save money, |
| 0:36.6 | but help you get on the road to financial freedom. |
| 0:39.1 | Check out their payment plans and interest rates at SOPAI.com slash White Code Investor. |
| 0:43.8 | SOPAI Student Loans are originated by SOPAI Bank NA, member FDIC, additional terms and conditions may apply. |
| 0:49.5 | NMLS, 696, 891. |
| 0:53.1 | All right, welcome back to the podcast. |
| 0:55.1 | Everybody, I've got a few announcements and things I want to talk about before we get into our interview today. |
| 0:59.6 | It's okay, it's a little bit shorter interview than usual, so I feel like I've got some time to add some additional information here. |
| 1:06.1 | The first is for those of you who are women practicing in Ohio, Massachusetts, or Montana. |
| 1:14.1 | If you do not have disability insurance in place, you should, but if you don't yet, here's a reminder. |
| 1:22.1 | Okay, get some disability insurance in place. |
| 1:25.1 | For women, you are better off buying unisex policies if you can, because disability insurance is more expensive for women, |
| 1:33.1 | because they're more likely to get disabled. |
| 1:34.6 | It's just the opposite of life insurance, where men pay more of their life insurance, women pay more for their disability insurance. |
| 1:40.1 | But those unisex policies are starting to disappear. They are harder and harder and harder to get. |
| 1:46.1 | And as of right now, when this podcast is dropping on March 30th, they're still available in a Maritoss and Principal in those three states. |
| 1:55.1 | But that's going away very quickly. |
... |
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