WCI #382: The Behavior Gap with Carl Richards

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 29 August 2024

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today we are talking with Carl Richards. Carl is a Certified Financial Planner, author, podcaster and educator. He is one of the most influential voices in the financial planning world. The title of his book is The Behavior Gap. In this discussion we get into what the behavior gap is, how big it is, why it is so persistent and what we as investors can do about it. We also talk about the state of the financial advisory industry and why there are not enough "real advisors". We talk about how investors should interact with advisors and how to find a good one. That and more in this compelling discussion.

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.
0:20.0	This whitecoat investor podcast, The Behavior Gap with Carl Richards. This episode is brought to you by SoFi, helping medical professionals like us bank borrow and invest to achieve financial wellness
0:25.6	SoFi offers up to 4.6% APY on their savings accounts as well as an investment platform financial planning and student loan refinancing
0:32.8	featuring an exclusive rate discount for med professionals
0:35.6	and a hundred dollar month payments for residents check out all the so
0:38.4	five offers at whitecoat investor dot com slash sofylf.
0:41.4	Lones originated by sofai-sofi bank N.A.
0:43.6	animal-six 96891.
0:45.3	Advisory services by so-by wealth LLC.
0:47.4	The brokerage product is offered by so-by securities LLC.
0:50.2	Remember, FINRA, SIPC, investing comes with risk, with risk, including risk of loss, additional terms and conditions may apply.
0:56.0	Let's do our quote of the day to start with today. This one comes from Susie Orman, who said a big part of financial freedom is having your heart and mind free from worry about the what ifs of life.
1:05.6	That's really what it's about. Taking care of your money is just a small part of your life,
1:10.4	but when you're doing it right, it becomes an almost non-existent part of your life and you can focus on the things that really matter.
1:18.0	Thanks to all of you out there for listening to the podcast. Without you, there is no podcast, right?
1:22.0	You're an essential part of the podcast.
1:24.0	Yes, we have guests, yes, we have a host.
1:26.4	Yes, there's certainly Megan Windle working hard on the podcast,
1:29.4	but we're not going to make this thing
1:30.5	if you weren't listening.
1:31.3	So thank you for being there. Thank you for your feedback and helping us
	...

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