WCI #318: 1099 Income and Locums Docs
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 8 June 2023
⏱️ 39 minutes
🧾️ Download transcript
Summary
Today we answer a handful of questions from docs who are interested in, or are currently doing locums. We talk about who locums might be right for and if people with a family can make it works as a career. We answer a few questions about 1099 income and how to structure your retirement savings if you are a 1099 worker, and what to do if you miss the deadline to set up a solo 401(k). We also tackle a question about iBonds in 2023.
Love what you hear on the podcast? Looking for more great White Coat Investor content? Head over to our YouTube channel where you can watch video recordings of our podcast, short snippets of financial tips explained succinctly by me and others, and deep dives into topics for more in depth learning. You can even learn all about real estate with webinars from our real estate partners. Check out all this and more at https://www.youtube.com/thewhitecoatinvestor. 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 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. |
| 0:16.0 | This is White Coat Investor Podcast number 318, questions from LocomDox. |
| 0:21.0 | Laura Rotas committed to serving the financial needs of doctors. |
| 0:24.0 | We want to help make your money workable. It's harder and smarter, which is why we boosted the rate |
| 0:29.0 | on a high-yield savings account to 4.80% APY. |
| 0:34.0 | Laura Rotas high-yield savings account comes with zero cost to open and no monthly account fees. |
| 0:39.0 | Whether you're saving for an emergency fund or planning your next big purchase, you can keep building your savings and access your funds whenever you need them. |
| 0:45.0 | For terms and conditions, please visit www.lororode.com forward slash WCI. |
| 0:50.0 | Now, it's www.lororode.com forward slash WCI. |
| 0:54.0 | Laura Rotas brand Keybank NA Number FDIC. |
| 0:58.0 | Wow, that's a pretty good rate. 4.8%. |
| 1:01.0 | I think that's just slightly better than the Vanguard Federal Money Market Fund as paying as I'm recording this. |
| 1:06.0 | Obviously, by the time you hear this, rates change. |
| 1:08.0 | If you're here listening to this a year from now, am I not still the same rate? |
| 1:11.0 | But, wow, that's quite a commitment to be competitive with the great Money Market Funds that the Vanguard put out there. |
| 1:18.0 | Pretty awesome. |
| 1:19.0 | I also want to make sure you know about a special page we have at the White Coat Investor. |
| 1:23.0 | We call our Retirement Accounts page. |
| 1:25.0 | You can find it at whitecodeinvestor.com slash retirement accounts. |
| 1:28.0 | But if you are looking for resources to help you to set up a retirement plan at your practice, this is where you go to get help. |
| 1:38.0 | We have a list of vetted companies there that have done this for many White Coat Investors that you can find on that page. |
... |
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