WCI #357: Roth IRAs, Conversions and Backdoor Contributions
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 7 March 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
Today our friend Chad Chubb is joining us for our next Friends of WCI episode. It is Roth season they answer more of your Roth questions. They cover Roth IRAs, conversions and contributions. They also talk about the difference between wants and needs, particularly around things like cars, or in Jim's case a big ole' F-250. Before wrapping up Jim and Chad debate the merits of living like a resident.
Today’s episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up to four point six percent APY on their savings accounts, as well as an investment platform, financial planning, and student loan refinancing…featuring an exclusive rate discount for med professionals and hundred-dollar-a-month payments for residents. Check out all that SoFi offers at https://www.whitecoatinvestor.com/Sofi
* Loans originated by SoFi Bank, N.A., N-M-L-S 696891. Advisory services by SoFi Wealth LLC. The brokerage product is offered by SoFi Securities LLC, Member FINRA/SIPC. Investing comes with risk including risk of loss. Additional terms and conditions may apply.
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 shake on Wall Street. |
| 0:06.1 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:22.0 | This whitecoat investor podcast number 357, Roth IRAs, conversions and backdoor contributions. Today's episode is brought to you by SoFi helping medical professionals like us, bank, borrow, and invest to achieve financial wellness. |
| 0:28.0 | SoFi offers up to 4.6% APY on their savings accounts as well as an investment platform, financial planning and student loan refinancing. |
| 0:36.0 | Be sure in an exclusive rate discount for med professionals and $100 month payments for residents. |
| 0:41.0 | Check out all that SoFi offers at Whitecoid Investor. |
| 0:43.6 | Com slash SoFi. Loans originated by SoFi Bank N. A. |
| 0:47.1 | Animal S 69 686891 advisory services by SoFi Wealth LLC. |
| 0:51.4 | Brokerage product is offered by SoFi Securities LLC member FINRA, |
| 0:54.7 | SIPC. Investing comes with risk, including risk of loss, additional terms and conditions may apply. |
| 1:00.7 | That might be the longest disclosure statement I've had to do on an ad on this podcast ever. |
| 1:05.7 | I guess that's what happens when you're doing banking and investing and brokerages, but such |
| 1:10.9 | as life out there, I suppose. Compliance is a big deal for all financial firms. |
| 1:15.7 | All right this is a Friends of WCI episode and our friend today is Chad Shub. |
| 1:20.5 | Welcome to the episode, Chad. |
| 1:23.0 | Thanks, Jim. |
| 1:24.0 | Excited to be here, always excited to chat with the |
| 1:27.8 | the W.C. I nation, so I'm excited to get into it. |
| 1:30.0 | Yeah, it's good to have you here. |
| 1:32.0 | For those who don't know, Chad's been a speaker at W.C. icon before, |
| 1:35.3 | he is as a profession, he's a financial advisor, |
| 1:38.0 | he's advertised with us for, I don't know how many years. |
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