WCI #404: Real Estate, the National Debt and the Financial Challenges of Building a Practice

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 30 January 2025

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today we are answering a few real estate questions starting with one about a 1031 exchange and then one about how to determine what qualifies as a "primary home." We then get to hear from our friend Jim Sheils at SI Homes who gives us an update on what they offer and what is new with them. We then change directions and discuss the national debt as well as answer some questions about things to thin about when you are starting a new practice.

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.
0:06.2	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:15.9	This is White Coat Investor podcast number 404.
0:19.4	Today's episode is brought to you by SOFI, helping medical professionals
0:22.3	like us, bank, borrow, and invest to achieve financial wellness. SoFi offers up to 4.6% APY on their savings
0:29.3	accounts, as well as an investment platform, financial planning, and student loan refinancing,
0:34.2	featuring an exclusive rate discount for medical professionals, and $100 a month
0:38.4	payments for residents. Check out all that SOFI offers at whitecodeinvestor.com slash SOFI.
0:44.1	Loans originated by SOFI Bank, NA, NMLS 696, 891, advisory services by SOFI wealth LLC.
0:48.9	The brokerage product is offered by SOFI Securities LLC, member FINRA SIPC.
0:53.0	Investing comes with risk, including risk of loss.
0:54.6	Additional terms and conditions may apply. All right, welcome back to the podcast. We're recording
0:59.2	this on January 22nd. It's supposed to run in like a week, so maybe we're getting a little
1:05.1	behind. We better start getting the head. We're going to conference here soon next month.
1:09.3	Looking forward to hopefully seeing a bunch of you there.
1:12.3	Before we get into our content today, which is primarily driven by you and your questions,
1:16.7	I wanted to talk for just a few minutes about the topic of financial advisors.
1:22.2	I cannot believe how much misunderstanding there is out there about how the financial advisory world works.
1:29.4	Okay. So let me just go over it, a very brief overview. Okay. There's basically three categories
1:37.4	of people who call themselves financial advisors. Okay. The first one is what I call
1:43.3	reps, representatives, right? These are people who sell
1:47.4	loaded mutual funds or commissioned mutual funds. They sell insurance, et cetera. The representatives
	...

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