WCI #439: Where to Bank and How to Save for Big Purchases
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 2 October 2025
⏱️ 43 minutes
🧾️ Download transcript
Summary
Today we are answering a variety of listener questions. We start out talking about if it is important to have a bank with a branch where you live. If you live in a smaller town should you move from a national or online bank to a smaller local bank or credit union? We then talk about how to save up for big purchases. If you have a big cost coming up like buying a house or a boat where should that money sit while you save up? We then spend some time talking about what to do with your retirement accounts when you move states. We answer a question about diversifying out of Apple stock, then discuss the challenges around what to do when your parents should no longer drive their car. Finally we discuss if you should try to get PSLF.
Today's episode is brought to us by SoFi, the folks who help you get your money right. Paying off student debt quickly and getting your finances back on track isn't easy, but that's where SoFi can help — they have exclusive, low rates designed to help medical residents refinance student loans—and that could end up saving you thousands of dollars, helping you get out of student debt sooner. SoFi also offers the ability to lower your payments to just $100 a month* while you're still in residency. And if you're already out of residency, SoFi's got you covered there too.
For more information, go to https://www.whitecoatinvestor.com/Sofi
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions apply. NMLS 696891.
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00:00 WCI Podcast #439
02:01 Where Should You Bank?
11:03 Best Place to Keep Cash
17:07 Switching Jobs & Moving
26:22 Capital Gains in a UTMA
31:00 When to Give Up Driver's License
34:00 PSLF vs. Paying Off Student Loans
Transcript
Click on a timestamp to play from that location
| 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 439. |
| 0:19.4 | Today's episode is brought to us by SoFi, the folks who help you get your money right. |
| 0:23.4 | Paying off student debt quickly and getting your finances back on track isn't easy, but that's where SoFi can help. |
| 0:28.9 | They have exclusive low rates designed to help medical residents refinance student loans. That can end up saving you thousands of dollars helping you get out of student debt sooner. |
| 0:37.6 | SoFi also offers the ability to lower your payments to just $100 a month while you're still in residency. |
| 0:42.4 | If you're already out of residency, SoFi's got you covered there too. |
| 0:45.8 | For more information, go to sophy.com slash whitecoat investor. |
| 0:49.6 | SoFi student loans are originated by SoFi Bank and a member FDIC. Additional terms and conditions apply |
| 0:54.6 | NMLS 696-891. Thanks everybody out there for what you're doing. I don't know if you're |
| 1:01.3 | exercising, walking the dog, commuting into work, coming home from work after a long day. |
| 1:06.4 | Maybe nobody said thanks today. And, you know, those of you who heard docs, we tend to be people-pleaser |
| 1:11.8 | kind of people. And a lot of what we're working for is just to help other people. And so it's hard when nobody says thank you. So if I'm the first one to tell you that today, I'm sorry, but I am grateful for what you're doing out there. It's important work you do. Thank you so much. We're going to get into all kinds of your questions |
| 1:27.9 | today. Now, you can give us questions in lots of different ways. You can email questions to us, |
| 1:33.3 | but sometimes it's better if you just leave it on the speak pipe, the whitecode investor.com |
| 1:38.1 | slash speakpipe. And we can hear directly from you, And we'll get your question answered. |
| 2:02.7 | And it's nice to hear some other voices on the podcast besides just mine. I mean, I don't even like listening to my voice. I can't even listen to these podcasts. I don't know how you guys listen to these podcasts, but I can't do it. So it's nice to hear your voices from time to time. All right. Our first one's an email. says Dr. Dolly and Teams, |
| 2:03.7 | it's my first time reaching out. |
| 2:03.1 | I want to take a moment to thank everyone. Thank you very much. My wife is soon to be |
| 2:07.6 | graduating general surgeon. I will be moving to a more rural northern Minnesota town the next year for |
| 2:12.4 | her first attending position after residency. We're excited since this is our dream location. |
... |
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