This podcast episode discusses the Rule of 55 retirement strategy, as well as listener questions about the risks of linking financial accounts to budgeting apps like YNAB, strategies for optimizing Trump accounts, and how to approach inherited taxable accounts and legacy investments.
The world of paying for medical school is now totally different. Here's how to think about closing the gap between federal and private loans.
My parents usually have their budget meeting at the kitchen table on a Sunday afternoon for a few hours. Here's what they've taught me.
If you're financially independent but still working, here are a few reasons for why you still might not want to retire.
There are several types of "own-occupation" policies. You probably need one of them, but which one? True, transitional, or modified? Here's what you need to know.
Medical school may not have taught you about money, but we will.
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Get ready to take control of your financial life. You can do this, and we can help.
We won't sell your information. Modify your preferences or unsubscribe at any time.
A perennial question in the financial literature is at what age is the best to begin Social Security benefits. Here's how I decided for me.
I love investing in private real estate debt funds. But lately, figuring out which accounts to put those funds into has been a struggle.
An interview with Dr. Matt Moore to discuss charitable trusts, recent changes affecting charitable giving, and advanced strategies that can help physicians give more efficiently while managing taxes.
It's worth a long, frank discussion with your parents and any other potential heirs to figure out the best way to increase family wealth.
Parenthood, emergency medicine, and athletics have been equal parts of my identity. But as I entered my mid-50s, I got to a crossroads.
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Let's consider a case study of somebody who barely has enough and how they deploy those assets to ensure a comfortable retirement.
A few surveys have shown that physician burnout is beginning to decline. Is this the start of a hopeful new trend for doctors?
Here's what you need to know about how to withdraw your RMDs from Vanguard. It's not as difficult as you might think.
If you don't pay enough in quarterly estimated taxes, the IRS could penalize you. Here are some ways to reduce those penalty payments.
Today, we answer listener questions on rabbi trusts, trust-owned brokerage accounts, and adjusting asset allocation. We also learn about how a group of emergency physicians fought to preserve their independent practice.
Tax-loss harvesting is a strategy where you sell losing positions to get a tax deduction. Here's how to tax-loss harvest with Vanguard.
Why are people scared about the decumulation phase in retirement? It has more to do than with how much money they have. Let's explore why.
I've done the things that people say they'd do if they didn't have to work—travel, hobbies, time with family. Sometimes, I'm still not happy.
Our Health Savings Account has grown and grown and grown. Now, it's into six-figure territory. Here's how we did it and what we'll do next.
If you let a season of your life go by without having an experience that is only available in that season, you've lost your chance.
Medical school may not have taught you about money, but we will.
We will never sell your information. Modify your preferences or unsubscribe at any time.
Get ready to take control of your financial life. You can do this, and we can help.
We won't sell your information. Modify your preferences or unsubscribe at any time.
Two White Coat Investor columnists—one older and one younger—go head to head to discuss their views on investing and retirement.
How much longer can I do this job? I'd wondered that for years, but now I needed to make a choice: retire early or find something else to do.
The contribution limits for 401(k)s, 403(b)s, IRAs, and HSAs will change for 2026. Here's what you need to know.
Now that the Secure 2.0 Act has been signed into law, here's everything you need to know about the changes for high-income earners.
Your financial and fitness goals often share the same principles. Here's what to know about getting in shape—with your body and your money.
Knowing what we know about cryptocurrency and its volatility, should you invest in it? Let's explore the issue here.
According to a new survey, the average doctor's salary has made solid gains in the past two years. Here's what doctors make in a year.
Many beginning investors feel overwhelmed when trying to design and implement their investment portfolios. This detailed plan should help.
In the US, it's better to be an owner than an employee. Utilize these ownership strategies to accumulate wealth through non-taxable income.
Get a tax plan in place to better manage your wealth in 2026. Start by understanding the 2026 tax brackets and how they work.
Parents with fantastic intentions often hurt their children by giving terrible financial gifts. Here's how to change that.
Learn the basics of real estate investing—from hard money loans to mezzanine debt, capital stacks to waterfalls, depreciation, 1031 exchanges, strategies, and lots more.
Too many docs never build significant wealth despite their high incomes. Make plans now to ensure you aren't in that category when you retire.
Want a bunch of discounts available for doctors and other healthcare workers? Here's how you can cash in on all kinds of savings.
How much money will you need to retire? Let's run through all the information you'll need to calculate your target number.
Start implementing critical strategies NOW to lower your S-Corp taxes this year. Here are 10 ways to use your business to keep more of your money.
Here's how top physician earners in typically lower-income specialties are killing it and commanding over 2X+ the average.
Yes, the rich do take advantage of their knowledge of the tax code to pay less in taxes. But six of their seven techniques are available to everyone.
Every doctor needs an asset protection plan. The best are simple, inexpensive, and highly effective at protecting you from financial loss.
Learn what tasks to do first using these waterfalls for residents and attendings, so you can manage your money.
Get as mad at debt as I am! Do the math, make a plan, take control, and seize the life you want by paying off your debt FAST.
Ready to start investing? Here's an overview of the basics of investing money and what you need to know before jumping into the stock market.
There are much better things to do with your time than hunting down 0% financing deals. Once quantified, they just look like clipping coupons.
Most of my portfolio is invested in index funds. I hope that's not news to you. Here are 10 of the reasons why.
What are the most unbiased, accurate, high-yielding, current, and entertaining financial books for doctors and other high income professionals? Here you go!
Whole life insurance is pitched to almost every high-income professional. Arm yourself with the facts so you don't fall prey to a decision you'll regret.
Disability insurance is crucial insurance for the vast majority of physicians to secure. Buy it right the first time, and you may never have to do it again.
We had a money hemorrhage a few years ago. It was bad. There was a lot of fun involved, but we did learn some lessons.
What do you do with the pennies your money earns between the contribution and conversion to a Backdoor Roth IRA? Not much.
Tax-deferred retirement accounts can reduce taxes, protect assets, plan your estate, and boost returns. Ignore them at your peril.
Guess what? You can have multiple 401(k) accounts, saving you thousands in additional taxes every year. But it can get pretty complicated.
A good investment portfolio is diversified, low-cost, passively managed, and consistent with your risk tolerance. Which one is best for you?
This Backdoor Roth IRA tutorial takes you step-by-step through the contribution process including Form 8606, tax implications, common mistakes, and lots more.
Doctors should follow these 10 steps to reach financial independence. Let's call them the 10 commandments of The White Coat Investor.
There are LOTS of reasonable budgets. Learn to create one to fit YOUR priorities and values as you use money as a tool to bring happiness.
Many Americans aren't rich because of what kind of car they drive. Don't be like them. You aren't what you drive.
How much money will you need to retire? Here are 9 reasons it may be a lot less money than you think.
While it’s a personal decision with lots of factors, here’s what to consider when deciding if you should pay off student loans or invest.
Let the government share in your investment losses. Here is a step-by-step guide to tax-loss harvesting so you can take advantage of market downturns.
I've said "Stay the course" a thousand times, and I meant it every time. It doesn't matter if stocks are up or down, stay the course!
When doctors don't talk about money, they end up making the same dumb mistakes. Stop the cycle and learn from others.
There are a few important financial chores every busy resident would be foolish to ignore. Get these 6 things done and checked off on your "to-do" list.
"Don't buy stuff you can't afford" is so simple it's laughable, yet too many of us live with debt we think acceptable. Here's how to change.
Uncompensated investment risk doesn't increase, and may even decrease your expected return. Avoid it through diversification.
Don’t make these seven common mistakes that cause doctors to fall short in reaching financial success.
Want to successfully reach your investing goals and build the life you dream of? Here are 7 numbers you need to know to make it happen.
The most complicated routine question for investors is the annual dilemma about Roth contributions and conversions. Here's what to know.
Should you use your money to pay off debt or invest? Unless you're 100% debt-free, you've got a dilemma. Resolve it with this algorithm.
Debt is an important part of our financial system, but it can also cause financial ruin. Let's talk about debt and see if it'd work for you.
Financial knowledge isn't enough. Without the X Factor, you'll never reach financial success. Here's how to get to the next level.
Estate planning is a critical part of your financial life. Nobody gets out alive. The basics aren't that complicated. Here's what you need to know.
Here's everything you need to know about Mega Backdoor Roth conversions and whether they're the right move for you in the long run.
What's a physician's best strategy for buying life insurance? It's easy if you avoid common sales tactics and know exactly what you want.
Celebrating the principles of Financial Independence Retire Early (FIRE). Decide if joining the movement for financial freedom is in your future!
The best 529 plans will give you a state tax credit, low fees, and great investment options. Find the best plan available for you.
I've often asked myself, "If you could design a financial planning firm from the ground up, what would it look like?" Here's the answer.
Financial advisors cost a lot of money. Learning to be your own advisor may save you time, money, and hassle. Here are eight reasons why.
I have no problem with using a financial advisor as long as they charge a fair price for good advice. Otherwise, you should fire them.
Here's the information a physician needs to manage student loan debt. We're talking private & Fed loans, PSLF, RAP, IBR, refinancing, and how to pay them off fast!
If you're working for a 501(c)(3), PSLF is the federal debt forgiveness program most physicians should be looking at, offering tax-free forgiveness in under 10 years if you qualify.
Should your tax preparer also be giving you advice about how to live your tax life? In other words, do you actually need a tax strategist?
What should you do with legacy holdings you no longer want? Sell them and pay the taxes? Hold them for a while longer? Here's our advice.
Here's everything you need to know about giving to charity, why you should do so, and the tax benefits available to those who give.
If you’re one of those who needs to loosen the purse strings a bit, this post is for you. Here are some tips for how to spend your money.
Spending your investments in retirement can be a tricky business. Here are some guidelines to help you figure it all out.
Here's how to calculate your required minimum distribution and reduce your fear of potential RMD tax burdens.
Every year, millions face one of the most challenging math questions in personal finance. How do you figure out whether to take an HSA?
If you've been considering an investment in private real estate, here's a little bit of experienced advice on how to get started.
We know you can and should take some risk when investing in stocks, but does that same principle apply to real estate investing?
Every investor needs a written Investment Policy Statement. Here are a few pieces out of mine and ideas for what you ought to consider including in yours.
Here's everything you need to know about Qualified Charitable Distributions and whether it's the right move for retirees.
Saving up for luxuries is an important financial habit to get into. Boats, ATV's, horses, airplanes, expensive cars... if you take up these luxuries before you are wealthy, they can prevent you from ever becoming wealthy.
The passage of the One Big Beautiful Bill Act will affect plenty of doctors when it comes to income, taxes, healthcare, and student loans.
Credit card travel rewards allowed me to take vacations I never dreamed I could. But does the travel hacking math really work in my favor?
It was remarkable to discover the difference between aiming for FI and reaching FI. Here are some math and psychological lessons I learned.
How can you access the mental health support you need while protecting your career and livelihood as a doctor? Here are some suggestions.
As 2024 turns into 2025, let's explore why you should invest, how to invest, and exactly when you should invest.
This is what the perfect advisor looks like to me. If you can't do it yourself, make sure you find someone with most of these criteria.
New residents have a big desire to buy a house. But it's a gamble of your time and money at a period of life when you have little of either.
More physicians are organizing, and some have begun to strike to earn better pay and benefits. Are striking doctors the right answer, though?
Stress is all but guaranteed in the medical profession. But here are some medical specialties that are more stressful than others.
In the quest to lower taxes, I often hear a lot of stupid ideas to lower your tax bill. Today, I'm going to go over the 15 worst ones.
If you're not such a big fan of Jim Cramer and his stock picks, here's a way to try to make money off the opposite of what he recommends.
The seeds of The White Coat Investor's newest course, No Hype Real Estate, actually sprouted years ago. Here's the behind-the-scenes story.
Every bear market is unique, but those who were investing in 2008 have seen this before. Proper behavior is essential to long-term success.
Have fun, be in control of your finances, and save a ton of money being a DIY investor. With the right tools and knowledge, you can do this!
This popular post explains what whole life insurance is and the various methods salesmen use to sell it to you (usually inappropriately). Be forearmed!
Robert Kiyosaki's Rich Dad, Poor Dad has its problems. That doesn't mean you can't learn anything from it. Here is a review of the book and my takeaway lessons.
The secret to becoming a wealthy physician is contained in these four words: "Live Like a Resident." Earn like an attending, but spend like a resident to become very wealthy, very fast.
Not sure which types of retirement accounts you should use? Here's all the information together in one place so you can get a grip on your retirement plan.
Wondering why you're no good at stock picking? The odds are stacked dramatically against you. Do yourself a favor and don't play this loser's game.
Qualify for the new pass-thru business (199A) deduction? You may have a new reason to use the Mega Backdoor Roth IRA for big tax protection.
Just how difficult is it for a physician to build wealth while living in California? Here are 12 reasons the economic costs may be too high to call it home.
Section 199a may be your largest tax deduction, but it can make retirement savings complicated. Know your options if QBI applies to your business.
HSAs have superior tax protection features compared to any other investing account. If you're using an HDHP be sure to make an HSA a priority each year.
When will you know if you are competent enough to manage your own personal finances? Here are 10 ways to determine if you are ready to be a DIY investor.
You've heard of the Millionaire Next Door. But have heard of the Rich Doctor Across the Hall? They've heard of you, and they're not impressed.
Pediatrician salaries are the lowest in medicine but they still get paid enough to retire as multi-millionaires if they make smart financial decisions.
Dave Ramsey gives a lot of great advice. And a little bad advice. Know the difference!
Far too many investors take either too much or too little investing risk for their goals. This results in either investment catastrophe, or simply running out of money in retirement. Here's how to get to the right level for you.
I thought the Backdoor Roth IRA was so simple nobody would screw it up. Boy was I wrong. Here's how to get it right and make contributions a simple task.
Goal setting is hard work, but sticking with the program is even harder. That's probably why you're broke and I'm built like Donald Duck.
Lifecycle funds provide professional management and instant diversification. Most investors should steer clear anyway for these seven reasons.
In broad strokes, asset protection includes tax saving, estate planning, and even investment strategies, and it will help preserve your nest egg in case of a malpractice suit. See Posts
Estate planning is the process to ensure that your assets go where you want after your death, that your desires are carried out after you can no longer make decisions, and that the estate taxes you pay to the government are minimal. See Posts
Whether it's life, disability, auto, home, or malpractice, high-income professionals need insurance to make sure life's biggest costs don't substantially hurt their nest egg. See Posts
There are so many ways to invest successfully that the most important thing is to just pick something reasonable and stick with it. But it's key to know which approach to take and why you're picking that option. See Posts
Beginning your financial journey and learning about personal finance can seem awfully overwhelming. But instead of trying to solve the entire puzzle at once, it'll be easier (for your mind and for your psyche) to break it down into sections that are more easily digestible. See Posts
Ownership matters, whether it's owning profitable companies, owning your own home, or owning your job. Most of the time, medicine is better—for the docs and for the patients—when docs own their jobs. See Posts
A full, happy, comfortable retirement is where so many WCIers have been aiming since they began working. The main questions: what's the best way to get there, and once you arrive, how do you begin to live and fund your new life? See Posts
While it's entirely possible to finish an undergraduate education debt-free, it's become less likely that physicians and other high-income professionals can do the same. That's why it's so important to know how to manage student loans and the programs that provide student loan forgiveness—especially in a political world that constantly makes changes to them. See Posts
Recent studies show that more than 50% of physicians have experienced burnout, marking a notable increase in the past decade. This trend is alarming and shows why the intersection of burnout and how high earners can keep themselves healthy has never been more pertinent. See Posts