WCI #331: 401K and IRA Limits are Totally Separate
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 7 September 2023
⏱️ 51 minutes
🧾️ Download transcript
Summary
Today Dr. Dahle reminds us that 401K and IRA limits are totally separate. He once again reviews the changes that happened with the Secure Act 2.0 and then dives into a variety of your questions. Some of those questions are about 401(k)s, roth vs. traditional contributions, mega backdoor roth conversions, and what do with retirement accounts when transitioning from residency.
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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 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!
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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 |
| 0:04.8 | shake on Wall Street. We've been helping doctors and other high-income professionals stop doing |
| 0:09.6 | dumb things with their money since 2011. This is White Coat Investor Podcast number 331 or 1K |
| 0:19.6 | and IRA limits are totally separate. Thousands of doctors have trusted patterned to help them |
| 0:24.9 | understand and obtain disability insurance. They trust pattern because they know their time is |
| 0:29.6 | valuable. Doctors have more important things to do than worry about insurance. Pattern gathers |
| 0:34.3 | quotes from the top five providers to deliver options unique to your situation. Here's how they do |
| 0:39.6 | it. Number one, request the quote. Number two, compare your options in a short meeting with one |
| 0:44.1 | of the expert sales advisors. Number three, buy risk-free. So request your quote today at whitecoatinvestor.com slash pattern. |
| 0:52.5 | Alright, welcome back to the podcast. It's been a little while since we recorded some. Part of |
| 0:57.6 | that is because I flaked out last week when I was supposed to record a bunch of podcasts. Turned |
| 1:01.4 | out I had gone to the local amusement park. It's called Lagoon here in Utah and I was standing |
| 1:08.3 | in line for a ride when Megan texted me and said, aren't we recording today? So sorry about those |
| 1:14.0 | of you who I was supposed to record a milestone podcast with that day and we had to reschedule. |
| 1:19.9 | I need to look at my calendar a little more closely before heading out. You know, it's really |
| 1:24.7 | unfortunate too because about 30 minutes after that call I wished I was a home recording podcast. |
| 1:31.4 | I get a little bit of motion sickness on those rides and I'm in the mistake of riding three rides |
| 1:35.9 | in quick succession that I probably shouldn't have been on and I ended up laying down in the |
| 1:40.6 | pavilion for about 45 minutes to keep from vomiting. So if you have that same experience at amusement |
| 1:45.4 | parks know that I have a great empathy for you. This doesn't run for a while. It's July 31st and |
| 1:52.7 | we're not running this till September 7th. So that must mean I've got some fun trips coming up |
| 1:57.1 | and indeed I do go into the wind rivers in the morning backpacking trip with my son. |
... |
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