WCI #473: Risk, Reward, and Smarter Investing
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 28 May 2026
⏱️ 56 minutes
🧾️ Download transcript
Summary
How should investors think about risk, reward, and building a portfolio that actually matches their goals?
In this episode of the White Coat Investor Podcast, we talk with Ben Carlson about themes from his new book Risk & Reward, including market fear, portfolio complexity, behavioral mistakes, and the tradeoffs involved in investing decisions.
We discuss questions many investors wrestle with: real estate versus stocks, crypto investing, factor tilts, tactical asset allocation, gold, paying off debt versus investing, and balancing risk across a portfolio.
The conversation also explores why investing should not be entertaining, what mistakes investors make most often, and how to think clearly when markets feel uncertain.
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.
The White Coat Investor Podcast launched in January 2017, and since then, millions have downloaded it. Join your fellow physicians and other high income professionals and subscribe today! Host, Dr. Jim Dahle, is a practicing emergency physician and founder of The White Coat Investor blog. Like the blog, The White Coat Investor Podcast is dedicated to educating medical students, residents, physicians, dentists, and similar high-income professionals about personal finance and building wealth, so they can ultimately be their own financial advisor-or at least know enough to not get ripped off by a financial advisor. We tackle the hard topics like the best ways to pay off student loans, how to create your own personal financial plan, retirement planning, how to save money, investing in real estate, side hustles, and how everyone can be a millionaire by living WCI principles.
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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 |
| 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. Welcome to the White Coat Investor Podcast. This |
| 0:18.9 | episode is brought to you by SOFI, helping medical professionals like us, |
| 0:22.0 | bank borrow and invest to achieve financial wellness. |
| 0:24.5 | SoFi offers up to 4.6% APY on their savings accounts, |
| 0:27.7 | as well as an investment platform financial planning and student loan refinancing, |
| 0:31.3 | featuring an exclusive rate discount for med professionals and $100 month payments for residents. |
| 0:36.3 | Check out all that SOFI offers at |
| 0:37.6 | whitecoat investor.com slash SOFI. LON's originated by SOFI Bank, NMA 696, 891, advisory services |
| 0:44.4 | by SOFI wealth LLC. The brokerage product is offered by SOFI Securities LLC. Member FINRA, |
| 0:49.2 | IPC, investing comes with risk, including risk of loss. Additional terms and conditions may apply. |
| 0:54.5 | All right, we've got a great episode today. This podcast, I think, drops in June. We're recording |
| 0:59.6 | at the end of April. So if something crazy happens in the last month and we don't mention it, |
| 1:04.9 | that's why. You know, we've had lots of great stuff happening in our family this week. I'm literally |
| 1:10.5 | in between a wedding and a funeral today. I'm getting on a happening in our family this week. I'm literally in between a |
| 1:11.5 | wedding and a funeral today. I'm getting on a plane in a couple of hours to go to a funeral. |
| 1:16.7 | But it has been an exciting time in our family and lots of interesting time spent thinking about |
| 1:24.8 | philosophy and what's really important in life. So I hope your life is going |
| 1:30.2 | well out there. We're certainly grateful for what you do. It's not easy work. We know the audience for |
| 1:34.7 | this podcast is mostly high income professionals like doctors. You've got hard jobs. And you spent |
| 1:39.9 | a long time in school and in training and learning how to do them you feel called to your work |
... |
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