WCI Financial Boot Camp Podcast

Dr. Jim Dahle of the White Coat Investor
  • 4.7 (17)
  • Education
  • Weekly

We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money—how to earn more of it, how to save more of it, how and why to invest more of it; and, yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast as your weekly Finance 101 class to learn what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast will cover all the basics. Every Tuesday, we publish an episode of this series that's designed to get you comfortable with financial terms - terms you need to know as you begin your journey to financial freedom. Best of all: Financial Boot Camp is 100% completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off their debt, to build wealth, and to comfortably retire with all the money they need. That's our main goal — teaching anybody and everybody about money and finances and how they can give you your best life. We've been helping people make smart decisions about their money since 2011. We want to help you, too — to make a plan so you can enjoy the financial freedom you deserve.

  1. 4d ago

    4% Rule: How Much Can You Safely Withdraw in Retirement? - WCI Financial Boot Camp

    How much can you spend in retirement while being guaranteed* to not run out of money? In this episode of The Financial Boot Camp Podcast, Dr. Tyler Scott explains what the 4% rule actually is, where it came from, and whether to not it applies to you and your situation. Some very smart people say that you can take out more than 4% each year, and other equally smart people say that you should take out less than 4%... So how do you decide when a consequence of getting this decision wrong could be running out of money? Tyler walks us through how to apply the 4% rule in YOUR life, so you can mitigate sequence of returns risk while fully enjoying what you've worked so hard for. *Nothing is guaranteed, our crystal ball is cloudy, so is yours. We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    4% Rule: How Much Can You Safely Withdraw in Retirement? - WCI Financial Boot Camp

  2. Oct 27

    Long-Term Care Insurance: Who Actually Needs It? - WCI Financial Boot Camp

    Long-term care insurance is a relatively new insurance product and many White Coat Investors aren't sure if it's something they need, or even want. In this episode of Financial Boot Camp, Dr. Jim Dahle explains what long-term care insurance is, who would benefit from having it, and the factors you should consider before purchasing it. Like most other insurances, you don't need to buy a long-term care policy if you can afford to self-insure. But if you're someone for whom a long-term care situation would be a catastrophe, buying a policy might be in your best interest. We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    Long-Term Care Insurance: Who Actually Needs It? - WCI Financial Boot Camp

  3. Oct 20

    Donate Stock, Not Cash: A Smarter Way to Give - WCI Financial Boot Camp

    Friend don't let friends donate cash to charities. You probably don't (and shouldn't) donate to charities just to reduce your taxes, but you may be leaving a lot of benefit on the table if you're giving cash. Cole Anderson, CFP®, CSLP from White Coat Planning joins us to explain the benefits of donating appreciated stock shares to your favorite charities instead of cash. Making this one change can increase your tax savings by 20% or more, allowing you to keep more or even donate more. So, get into the habit of donating appreciated shares, and then you can become that person who doesn't let their friends donate cash to charity. We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    Donate Stock, Not Cash: A Smarter Way to Give - WCI Financial Boot Camp

  4. Oct 13

    How to Do a Backdoor Roth IRA Correctly - WCI Financial Boot Camp

    High income professionals are not allowed to contribute directly to a Roth IRA. You can, however, max out your Roth IRA every year if you use the Backdoor Roth IRA loophole. In this episode of the Financial Boot Camp series, Dr. Tyler Scott from White Coat Planning details what the Backdoor Roth IRA is, who should use it, and he shares the complete step-by-step process for completing the Backdoor Roth IRA correctly. Tyler then walks us through the 3 most common mistakes people make when attempting to complete a Backdoor Roth IRA, along with solutions to these mistakes, and actionable advice to avoid these problems altogether. Getting money into a Roth IRA can make sense for a lot of doctors and other high income professionals. Happy Backdoor Rothing! Articles mentioned in this episode: https://www.whitecoatinvestor.com/pennies-and-the-backdoor-roth-ira  https://www.whitecoatinvestor.com/fix-backdoor-roth-ira-screw-ups  https://www.whitecoatinvestor.com/ira-recharacterizations  https://www.whitecoatinvestor.com/backdoor-roth-ira-beware-january-contribution  https://www.whitecoatinvestor.com/how-to-report-a-backdoor-roth-ira-on-turbotax  We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Annual Contribution Limits: https://whitecoatinvestor.com/numbers  Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    How to Do a Backdoor Roth IRA Correctly - WCI Financial Boot Camp

  5. Oct 6

    Irrevocable Trusts for Doctors - WCI Financial Boot Camp

    Do doctors really need an irrevocable trust? In this episode we discuss how irrevocable trusts work and the reasons why a high income professional might want (or need) to set one up. Irrevocable trusts can be a useful estate planning and asset protection tool, but using them will increase the complexity of your financial life. We discuss the pros and cons of using an irrevocable trust, when it might make sense for you, and the different types of trusts you can use. An irrevocable trust is not something that every doctor needs, but understanding what they are and how they work will help you determine if their added complexity outweighs their benefit in your life. We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    Irrevocable Trusts for Doctors - WCI Financial Boot Camp

  6. Sep 29

    What Doctors Need to Know About Term Life Insurance - WCI Financial Boot Camp

    How much term life insurance do you actually need, and is there a simple way to calculate it yourself? In this Financial Bootcamp episode, Dr. Jim Dahle breaks down term life insurance using a straightforward formula: add up what your family would need if you were gone, subtract what you already have saved, and that gap is your coverage number. He walks through a real example covering college costs, a mortgage payoff, and full financial independence for a surviving spouse, showing how a $2 to 5 million policy, typical for most attending physicians, actually gets calculated rather than guessed. Jim also covers how to choose the right term length based on when you expect to reach financial independence, the difference between level premium and annually renewable term policies, and why term life insurance functions largely as a commodity, price and financial strength matter, but most add-ons and riders, like return of premium features, are not worth paying extra for. He addresses how dual income couples should think about coverage, and explains why term life insurance is meant to be temporary: once you are financially independent enough that no one depends on your income, it is time to cancel the policy and redirect that money elsewhere. The right amount of life insurance is not about following a rule of thumb. It is about doing the math for your specific situation, and insuring adequately to cover your needs. We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    What Doctors Need to Know About Term Life Insurance - WCI Financial Boot Camp

  7. Sep 22

    What Doctors Need to Know About Traditional IRAs - WCI Financial Boot Camp

    Does using a traditional IRA before age 59.5 automatically mean paying a penalty on your money? In this Financial Bootcamp episode, Dr. Jim Dahle breaks down how traditional IRAs work, from the upfront tax deduction and tax-protected growth to the asset protection benefits most people overlook. He explains the key difference between traditional and Roth IRAs, why the decision between them is one of the more difficult choices in personal finance, and how high earners with a workplace retirement plan often lose the ability to deduct traditional IRA contributions, which is exactly why the backdoor Roth IRA process exists. Jim also covers the lesser-known exceptions that allow penalty-free withdrawals before age 59.5, including the 72(t) substantially equal periodic payment rule, which means early retirement is not a reason to avoid using retirement accounts in the first place. He closes with the most common mistakes people make with traditional IRAs, from failing to use them at all to mishandling the backdoor Roth conversion process due to the pro-rata rule. A traditional IRA, used correctly, almost always beats investing the same money in a regular taxable brokerage account. We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Annual Contribution Limits: https://whitecoatinvestor.com/numbers  Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    What Doctors Need to Know About Traditional IRAs - WCI Financial Boot Camp

  8. Sep 15

    Stop Budgeting, Start Tracking Your Expenses - WCI Financial Boot Camp

    Could your retirement plan be off by hundreds of thousands of dollars simply because you do not actually know what you spend each month? In this Financial Bootcamp episode, Cole Anderson, CFP®, CSLP with White Coat Planning explains why expense tracking matters more than traditional budgeting. Budgeting tends to create a restrictive, scarcity-driven mindset, while tracking expenses builds a clearer, more accurate picture of where money is actually going. Using a simple example, a couple who believes they spend $10,000 a month but actually spends $15,000, he shows how a spending gap that size can increase a retirement number by 50 percent, from $3 million to $4.5 million. Cole breaks down the three categories of expenses, fixed, variable, and episodic, and walks through practical ways to track spending, whether that means manually reviewing bank and credit card statements or using tools like Monarch Money or You Need a Budget. He also shares how tracking expenses over time reveals forgotten subscriptions and spending patterns that do not match a household's actual values, and explains the surprisingly large long-term impact of even small monthly reductions in spending. Accurate spending data is not just a nice-to-have. It is the foundation every other part of a financial plan, from emergency funds to insurance coverage to retirement timing, actually depends on. We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money: how to earn more of it, how to save more of it, how and why to invest more of it, and yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast your weekly Finance 101 class, designed to teach you what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast covers the basics. Every Tuesday, we publish an episode designed to get you comfortable with financial terms and concepts you need to know as you begin your journey to financial freedom. Best of all, Financial Boot Camp is completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off debt, build wealth, and retire comfortably with enough money to support the life they want. That's our main goal: teaching people about money and finances, and showing how smart financial decisions can help create a better life. We've been helping people make smart decisions about their money since 2011. We want to help you too, by giving you the knowledge and tools to build a plan and enjoy the financial freedom you deserve. Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

    Stop Budgeting, Start Tracking Your Expenses - WCI Financial Boot Camp
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4.7
out of 5
17 Ratings

About

We know finances can be complicated, especially when you are just beginning your journey to financial literacy. When you listen to the Financial Boot Camp Podcast, you'll learn the basics of money—how to earn more of it, how to save more of it, how and why to invest more of it; and, yes, how to safely spend more of it. Consider the Financial Boot Camp Podcast as your weekly Finance 101 class to learn what they didn't teach you in medical school or residency. Whether you need to learn about disability insurance, the best way to negotiate a physician contract, or how to do a Backdoor Roth IRA, the Financial Boot Camp Podcast will cover all the basics. Every Tuesday, we publish an episode of this series that's designed to get you comfortable with financial terms - terms you need to know as you begin your journey to financial freedom. Best of all: Financial Boot Camp is 100% completely free. Most doctors and high earners never learned about money. They weren't taught the best ways to pay off their debt, to build wealth, and to comfortably retire with all the money they need. That's our main goal — teaching anybody and everybody about money and finances and how they can give you your best life. We've been helping people make smart decisions about their money since 2011. We want to help you, too — to make a plan so you can enjoy the financial freedom you deserve.

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