Finding a Good Financial Advisor


My September column at Physician’s Money Digest was all about finding a good financial advisor. I am often accused of being “anti-financial advisors.” That’s not true in the least. I recognize that the vast majority of high-income professionals, including physicians, would benefit from using the services of a financial planner and investment manager who offers good advice at a fair price. Unfortunately, most self-styled “advisors” do not meet those 2 criteria. When searching for an … Continue reading

A Serious Reply – More Arguing About IUL


When you put yourself and your ideas out on the internet, it’s best to have a thick skin, especially if you have chosen to reveal some personal and identifying information as I have. Although on this blog I write about a myriad of subjects, including living below your means, portfolio design, student loan management, retirement planning, insurance of many types, estate planning, asset protection, and mortgages among other subjects, 95% of the “hate email,” “hate … Continue reading

How Dentists Retire By 50

Douglas Carlsen, DDS

[Editor's Note: Doug Carlsen, DDS, is a dentist who retired at 53. He is a new columnist at The White Coat Investor. This is his second column. Let me know how you like his articles by email or in the comments section.] In 2007, I wrote an article for Dental Economics titled “Retire by 50.”  It described a small and quiet group of dentists who amass wealth early and then fall off the radar before … Continue reading

The Secret To Successful Stock Investing


Sssshhhh! Let me tell you something very special. Lots of people have spent countless years and billions of dollars trying to learn the secret to successfully investing in stocks. But right now, in just a few seconds, and at no cost to you, I’m going to let you in on the secret: STAY IN THE PELOTON! Let me tell you what I mean. Stock investing is a lot like a flat stage in a multi-stage … Continue reading

Disability Insurance Occupational Classes

When purchasing individual disability insurance, it is important to meet with an independent agent who can sell you a policy from any of the “big six” insurance companies, Guardian (Berkshire), Standard, Metlife, Ameritas, Principal, and MassMutual. One of the reasons for this is that for your state, gender, and especially specialty, one company’s policy may be much cheaper than a similar policy offered by another company. Your specialty, or occupational class, is one way in … Continue reading

Tactical Asset Allocation – Pro/Con Series

Lee Sheikh

[Editor's Note: This is another in the popular Pro/Con series. My debate opponent,  Liaquat "Lee" Sheikh, a registered investment advisor, sent me a guest post which listed four methods to increase the risk-adjusted returns of your portfolio. I heartily agreed with two of them- using international stocks and diversifying the portfolio across numerous asset classes. But they've been discussed so many times here, I didn't think they were particularly useful to publish. However, his other … Continue reading

Pay Yourself First – A Review

David A. Burd, CFP, and James S. Hemphill, CFP, CIMA, two financial advisers with TGS Financial Advisors, (no financial relationship, but they did send me a free copy of the book) have written a delightful little book aimed at the graduating resident entitled Pay Yourself First: A Financial Guide For Doctors Entering Practice, not to be confused with several other books with the same title. It is self-published, but well-edited, and just 61 short pages. … Continue reading

How Buy Term And Invest The Rest Really Works

It seems that a number of readers and especially whole life insurance salesmen don’t seem to get how the concept of buying term and investing the rest actually works. I thought I would make a chart, using some of my own data, as well as some projections into the future, that would demonstrate the concept. In the chart above, there are four lines. The purple line, labeled Financial Independence, is the amount of money I … Continue reading

The Health Professions Scholarship Program (HPSP) Scholarship

Dr. Ellenbecker enjoying his time in Afghanistan

[Editor's note: This is a guest post from long-time blog reader and frequent commenter Beau Ellenbecker, DO, a private practice family practitioner who spent a few years in the Army after accepting an HPSP scholarship to pay for medical school. Similar to me, he has mixed feelings about his decision. In 2007, he wrote an HPSP guide for a student doctor website. He sent me his recent revisions which I thought were worth publishing as … Continue reading

A Pre-Retirement Financial Checklist

West Crack, Tuolumne

[Editor's Note: Sorry about the hassle with the registration with Friday's Post (Retirement Plans- Your Largest Tax Break.) That presentation is now viewable without requiring registration.] My monthly column at Physician’s Money Digest is a pre-retirement financial checklist. I did a recent series on investing in retirement, but this checklist is really designed for someone in their last few years before retirement. It discusses debt management, insurance planning, income planning, estate planning, and even the … Continue reading

Retirement Accounts – Your Biggest Tax Break


The third part in my eight part series for QuantiaMD is now out. This is an audiovisual presentation on retirement accounts, the biggest tax break available to physicians. I just finished replying to dozens, perhaps hundreds, of questions and comments posted on it. It was an enlightening experience. I am constantly amazed at the ridiculously low levels of financial literacy exhibited by physicians, mid-levels, nurses and other well-educated and intelligent professionals. It is terrifying, and … Continue reading

Royalty Based Lending


[Editor's Note: This is a guest post from Howard Klemmer, ( who is a partner with Royalty Lending Financial Services, LLC. We have no financial relationship. Financial professionals submit guest posts like this both to educate readers about financial products and opportunities, and of course because they hope to build their business by recruiting investors or clients. I always try to ensure these posts are heavy on the education, and light on the sales, but … Continue reading

New Options for Student Loan Refinancing

It’s been nearly a year since I did my first post on student loan refinancing. That page continues to be one of the most frequently visited on the blog. I remember being pretty excited to see anybody refinancing student loans at that point. Over the last year, a few other companies/banks have gotten in on the act. Hopefully this is a growing trend. There have been a lot of growing pains for the companies doing … Continue reading

Dr. Shaq’s Financial Lessons

Shaquille O'Neal

Believe it or not, basketball star Shaquille O’ Neal is a great example of someone who figured out how to turn income into wealth. My August column at ACEP NOW discusses some of the ways he did so, as well as reveals the true secret to becoming wealthy. Here’s an excerpt: Achieving financial independence is remarkably simple: make a lot of money, don’t spend a lot of money, and make the difference between what you … Continue reading

Alternative Thinking: Private Real Estate Investments

[Editor's Note: This is a guest post by Phil Ayres, the Chief Technology Officer for REPSE, a real estate platform not dissimilar from blog sponsor Realty Mogul. This site "helps investors understand their preferences for real estate investment opportunities and match them with project sponsors and developers who have private investment opportunities corresponding to their criteria." While I certainly consider private investments an optional part of your portfolio, there is no doubt that real estate … Continue reading