WCI #380: Michael Kitces on the State of Financial Planning
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 15 August 2024
⏱️ 80 minutes
🧾️ Download transcript
Summary
Today Dr. Dahle talks with Michael Kitces, creator of the popular blog Nerds Eye View. He is a CFP (along with many other designations) who has a passion for educating. His platform is huge and he knows more about financial planning and the financial planning industry than just about anyone out there. Today they tackle a range of topics with the higher level focus on the state of the financial planning industry. Michael shares valuable insight on how to find a trust worthy advisor, why he thinks there are so many fewer women working in the financial advising industry, if therapy training should be required for financial advisors and if the good guys in the industry are winning in the court of public opinion. We know you will love those topics and so many others from todays conversation.
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 4.6% 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 $100/month payments for residents. Check out all that SoFi offers at https://www.whitecoatinvestor.com/Sofi
*Loans originated by SoFi Bank, N.A., NMLS 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. This is Whitecone Investor Podcast number 380. |
| 0:18.0 | This episode is brought to you by SoFi helping medical professionals like us bank, borrow, |
| 0:22.4 | and invest to achieve financial wellness. |
| 0:24.4 | SoFi offers up to 4.6% APY on their savings accounts as well as an investment platform, |
| 0:28.9 | financial planning, and student loan refinancing, featuring an exclusive rate discount for med professionals |
| 0:34.3 | and a hundred dollar month payments for residents. Check out all that so-fai offers at whitecoat investor. |
| 0:38.3 | Com slash sof. Funds originated by sofai Bank N. A. And the Molastics 9 9, 6, 891, advisory services by SoFi Wealth I, |
| 0:43.9 | WealthC. The property product is offered by SoFi Securities LLC, Member Finra-SIPC, investing comes with risk, |
| 0:48.6 | including risk of loss, additional terms and conditions can apply. |
| 0:52.2 | All right, welcome back to the podcast. |
| 0:54.0 | Hope you had a good week. |
| 0:55.0 | I missed you. |
| 0:56.0 | I'm glad you're here. |
| 0:58.0 | Thank you so much for listening to this podcast. |
| 1:00.0 | It wouldn't be much without you. |
| 1:01.0 | You know, a podcast, I suppose, could be just somebody talking into a microphone, but if nobody's |
| 1:05.5 | actually listened to it on the other end, it's not much of the podcast. |
| 1:10.8 | Our quote of the day today comes from Benjamin Franklin, said wealth is not his that hasn't but his that enjoys it. |
| 1:17.0 | That makes me feel better, you know, given that what I talked about last week about renting a McLaren for a couple of days. |
| 1:23.7 | It doesn't do any good to just sit there in those accounts. |
| 1:26.4 | Once you have become wealthy, once you've taken care of your financial ducks, it's okay to spend |
... |
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