White Coat Investor Podcast - WCI #38: Bitcoin, Prenups, and Investing vs Paying off Debt

WCI #38: Bitcoin, Prenups, and Investing vs Paying off Debt

01/25/18 • 20 min

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In this episode Dr. Dahle answers listeners' questions about bitcoin, prenups, and whether you should be investing or paying off debt.

I estimate that 80% of doctors need, want, and should use a financial advisor and/or an investment manager. Some investment gurus such as Dr. William Bernstein think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it—just make sure you are getting good advice at a fair price. If you need help updating your financial plan or just getting one in place, check out our list of recommended financial advisors at https://www.whitecoatinvestor.com/financial-advisors. You can do this and The White Coat Investor can help.

The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Main Website: https://www.whitecoatinvestor.com YouTube: https://www.whitecoatinvestor.com/youtube Student Loan Advice: https://studentloanadvice.com 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

In this episode Dr. Dahle answers listeners' questions about bitcoin, prenups, and whether you should be investing or paying off debt.

Previous Episode

WCI #37: Introducing the WCI Online Course: Fire Your Financial Advisor

This episode is an introduction to the new WCI course, Fire Your Financial Advisor! Over the years that I’ve been helping doctors and other high income professionals stop doing dumb stuff with their money, I’ve learned that most of them aren’t hobbyists. They don’t find personal finance and investing all that interesting. In fact, if given the choice, they’d rather not do it at all. Ideally, they would hire a “money guy (or gal)" who would take care of all this for them for a reasonable price.

Unfortunately, one of two things usually happens. The first is that they hire a “money guy,” but that person either gives crummy advice or charges too much for good advice. The second is that they become so busy or so paralyzed about which “money gal” to hire that they don’t do anything at all. Either way, they leave a lot of money on the table and go through life with a sense of unease that they are doing something wrong with their finances.

Does that describe you? If so, this course is for you. No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For 1/10th the price and half the time of hiring a professional financial planner, this course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was.

Getting quality disability and life insurance should be the first financial chore for a doctor to complete. Most docs don't have the ideal policy for their gender, specialty, state, or health status and 1 in 7 doctors get disabled at some point during their career. Because these policies can only be purchased through brokers, we have put together a list of vetted agents who are experienced with working with the specific needs of medical professionals and who have your best interest at heart. If you have questions about insurance and what kind of policies would be the best fit for you, check out our insurance recommended list at https://www.whitecoatinvestor.com/insurance and feel the peace of mind that comes with knowing you have the optimal policy in place. You can do this and The White Coat Investor can help.

Next Episode

WCI #39: Five Questions on SERPs, New Tax Law, Inherited IRAs, and Gifts

Dr. Dahle answers listeners' questions in this episode. He covers questions about SERPs, the new tax law, inherited IRAs, and gifts.

At some point in our financial lives, it will be time to buy a home. A physician mortgage can be a good vehicle for a young doctor who’s just out of school and has a more effective place to use their money than on a big down payment. These loans allow doctors to secure a mortgage with fewer restrictions and a lower down payment than a conventional mortgage. But if you’re further advanced in your career or deeper into your journey to financial freedom, buying a home with a conventional mortgage and then, later on, potentially refinancing that loan to a better rate with a shorter time frame could be a great move. Wherever you are in your financial journey, make sure you use the mortgage that will be most financially beneficial for you. Hop over to our recommended tab to learn more about all of your mortgage and refinancing options at https://www.whitecoatinvestor.com/mortgage. You can do this and The White Coat Investor can help.