meta_pixel
Tapesearch Logo
Log in
White Coat Investor Podcast

WCI #320: Investment Accounts

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Investing, Business, Health & Fitness, Medicine

4.82.4K Ratings

🗓️ 22 June 2023

⏱️ 32 minutes

🧾️ Download transcript

Summary

Today we are answering your questions about investments accounts. We answer questions about UTM accounts and what the tax implications are, how to choose benefit options inside a 401a, whether or not to buy a pension, what to do with your solo 401(k) when starting a W2 job, and of course a Roth 401(k) question and more!

I estimate that 80% of doctors need, want, and should use a financial advisor and/or an investment manager. Some investment gurus such as Dr. William Bernstein think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it—just make sure you are getting good advice at a fair price. If you need help updating your financial plan or just getting one in place, check out our list of recommended financial advisors at https://www.whitecoatinvestor.com/financial-advisors. 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 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 is for you!

Main Website: https://www.whitecoatinvestor.com 
YouTube: https://www.whitecoatinvestor.com/youtube 
Student Loan Advice: https://studentloanadvice.com 
Facebook: https://www.facebook.com/thewhitecoatinvestor 
Twitter: https://twitter.com/WCInvestor 
Instagram: https://www.instagram.com/thewhitecoatinvestor 
Subreddit: https://www.reddit.com/r/whitecoatinvestor 
Online Courses: https://whitecoatinvestor.teachable.com 
Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter 

Transcript

Click on a timestamp to play from that location

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 White Coat Investor Podcast, number three twenty.

0:19.0

Today's episode is brought to us by SoFide, the folks who help you get your money right.

0:23.0

They've got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans.

0:28.0

That could end up saving thousands of dollars. Still in residency, SoFide offers competitive rates and the ability to whittle down your payments to just $100 a month while you're in residency.

0:36.0

Already out of residency, SoFide's got you covered there too. Great plans and great rates that could help you save money and get on the road to financial freedom.

0:44.0

Check out their payment plans and interest rates at sofide.com slash White Coat Investor. SoFide's student loans originated by SoFide Bank and a member of FDIC additional terms and conditions may apply, and a molest 696891.

0:56.0

Alright, welcome back to the White Coat Investor Podcast where we try to help you get a fair shake on Wall Street.

1:04.0

Mostly we're here to help you stop doing dumb stuff with your money. Doctors in notorious for being bad business people, for making bad investments.

1:14.0

There is a saying in the financial services industry that an investment is so bad you can only sell it to doctors.

1:22.0

And I'm trying to stamp that out. Get rid of this financial literacy among doctors. We've been working out of here since May of 2011.

1:30.0

And a podcast and a blog, video cast, online courses, books, however you like your information, or trying to help you be financial literate.

1:38.0

So you can make smart decisions that allow your money to really demonstrate your values, whether that's in how you earn and save and invest and spend and give that money.

1:51.0

Alright, well, I'm still here as you may have heard I went skydiving. This was for Whitney's 19th birthday.

1:58.0

She wanted her parents to go skydiving with her. And I'll be honest, you know, I do a lot of kind of risky sports, whether that's climbing or canyoneering or paddling or backcountry skiing, whatever.

2:10.0

This was scary for me to this idea of jumping out of a perfectly good plane, but I did do it.

2:16.0

The nice thing about skydiving is you do it so high that it doesn't even seem real. The ground is so far away that, you know, it doesn't even seem to all that real when you jump out of the plane.

2:28.0

But I did jump out of the plane. And for 50 seconds plummeted toward the ground, I think it covered 7,000 vertical feet or something. I mean, you are falling as fast as you go terminal velocity, right? It was pretty cool.

2:43.0

I'm not going to lie. That wasn't all that scary though. You know, it was scary was once they opened the shoot.

2:48.0

And it took about 1,500 vertical feet for that shoot to open. I might add. And after that was under the canopy for about 4,000 vertical feet.

2:57.0

That part was a lot more scary for some reason. Maybe because the ground was a whole lot closer and we were moving around.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Dr. Jim Dahle of the White Coat Investor, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Dr. Jim Dahle of the White Coat Investor and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.