Today we are answering a variety of listener questions. We start out talking about if it is important to have a bank with a branch where you live. If you live in a smaller town should you move from a national or online bank to a smaller local bank or credit union? We then talk about how to save up for big purchases. If you have a big cost coming up like buying a house or a boat where should that money sit while you save up? We then spend some time talking about what to do with your retirement accounts when you move states. We answer a question about diversifying out of Apple stock, then discuss the challenges around what to do when your parents should no longer drive their car. Finally we discuss if you should try to get PSLF.

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 has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
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00:00 WCI Podcast #439
02:01 Where Should You Bank?
11:03 Best Place to Keep Cash
17:07 Switching Jobs & Moving
26:22 Capital Gains in a UTMA
31:00 When to Give Up Driver's License
34:00 PSLF vs. Paying Off Student Loans

Today we are talking with a family doc who has reached financial independence. This doc has followed a path that not too many follow anymore. He is a solo practice doctor and feels like his decision to own his own practice made all the difference in both his lifestyle and his finances. He took a risk to not only open his own practice but also to build and own the building he practices in. Impressively, he is completely debt free and can now just watch his wealth grow. After the interview we will be talking more about financial independence for Finance 101.

More info on Value Based Care: https://www.cms.gov/files/document/fact-sheet-ssp-py24-financial-and-quality-results.pdf

This podcast is sponsored by Bob Bhayani at Protuity. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://WhiteCoatInvestor.com/Protuity today by email info@protuity.com or by calling (973) 771-9100.

The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Have you achieved a Milestone? You can be on the Milestones to Millionaire Podcast too! Apply here: https://whitecoatinvestor.com/milestones

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor
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00:00 MtoM Podcast #242
03:00 Solo Family Practitioner Reaches Financial Independence
16:06 Advice For Others
22:41 Financial Independence

Today we are answering questions from our residents in the audience. We discuss saving vs investing, buying houses, physician loans, and Roth IRAs. Then we interview a recent graduate about to start his first job as an attending, and he walks us through his financial life to this point. If you want to learn how to do it right, you'll want to take notes.

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 has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor
Join the community on Twitter: https://twitter.com/WCInvestor
Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor
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Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com
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00:00 WCI Podcast #438
02:14 Invest vs. Pay Down Debt
10:14 Mortgage as a New Resident
14:06 Roth IRA as a Resident
16:24 Interview with a Resident

Today we are talking with an academic plastic surgeon who is celebrating getting both PSLF and becoming a millionaire. He is just starting his 5th year of practice. He and his wife are both committed to financial literacy. They have a 30% savings rate and have no consumer debt. This doc shared that he didn't have great examples growing up of how to be wise with your money and said he had to unlearn some bad habits in addition to learning how to invest and grow wealth. After the interview we are talking about PSLF for Finance 101.

This podcast is sponsored by Bob Bhayani at Protuity. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://WhiteCoatInvestor.com/Protuity today by email info@protuity.com or by calling (973) 771-9100.

The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Have you achieved a Milestone? You can be on the Milestones to Millionaire Podcast too! Apply here: https://whitecoatinvestor.com/milestones

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor
Join the community on Twitter: https://twitter.com/WCInvestor
Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor
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Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com
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00:00 MtoM Podcast #241
03:19 Plastic Surgeon Receives PSLF and Becomes a Millionaire
16:14 Advice For Others
18:40 Public Service Loan Forgiveness (PSLF)

Today we are answering a variety of questions including how to understand and select employee stock ownership plans. We talk about things to think about when signing up for benefits at work including selecting disability insurance and the tax implications of that. We answer a question about a specific type of insurance called an SPDA. We end the episode with a question about private real estate funds and a discussion from our friends at DLP Capital.

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 has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor
Join the community on Twitter: https://twitter.com/WCInvestor
Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor
Join the community on Reddit: https://www.reddit.com/r/whitecoatinvestor
Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com
Sign up for our Newsletter here: https://www.whitecoatinvestor.com/free-monthly-newsletter

00:00 WCI Podcast #437
04:00 Employee Stock Ownership Plans (ESOP)
09:24 How to Tax Disability Benefits
12:52 Single Premium Deferred Annuities
19:55 Don Wenner Interview
31:50 What to Do with Cash

Today we talk to a Pulmonologist who paid off nearly $300,000 of loans in less than 5 years. He shares that he initially operated under the ignorance is bliss mindset and opted to avoid worrying about his loans at all. Once he had a bit of a financial awakening, got married and started a family he realized he needed to get after the loans and take control of his financial life. He then made a goal to pay off his loans by age 40 and happened to accomplish that goal early. He shows that all it takes is a plan, and even if you get started a little late you can always become financially successful. Not only has he paid off his loans but he has also become a millionaire. His next goal is to reach financial independence by his mid 50s. After the interview we talk about how to pay for school for Finance 101.

Southern Impression Homes takes owning rental property to the next level with their innovative 2.0 approach, focusing solely on turnkey new construction investment properties. Single family homes, duplexes and quads in high growth markets of Florida. They handle every aspect of the process with expertise and efficiency. Including financing, insurance, and property management. To learn more about build-to-rent, visit https://www.whitecoatinvestor.com/southernimpressionhomes or call 904-831-8058!

The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Have you achieved a Milestone? You can be on the Milestones to Millionaire Podcast too! Apply here: https://whitecoatinvestor.com/milestones

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor
Join the community on Twitter: https://twitter.com/WCInvestor
Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor
Join the community on Reddit: https://www.reddit.com/r/whitecoatinvestor
Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com
Sign up for our Newsletter here: https://www.whitecoatinvestor.com/free-monthly-newsletter

00:00 MtoM Podcast #240
02:28 Pulmonologist Pays Off Student Loans
15:14 Advice for Others
21:24 Paying for Your Kids' School

This episode is all about retirement. We answer a handful of your questions from email, the Speakpipe and the forum. We talk about decumulation and how to start withdrawing from your investments. We talk about when and if you should increase your bond allocation as you are nearing or entering retirement. We talk about gift taxes, generational wealth and the best way to pass wealth to future generations.

Laurel Road is committed to helping residents and physicians take control of their finances. That’s why we’ve designed a personal loan for doctors, with special repayment terms during training. Get help consolidating high-interest credit card debt or fund the unexpected with one low monthly payment. Check your rates in minutes to see if you qualify for a lower rate, plus, White Coat Readers also get an additional rate discount when they apply through https://LaurelRoad.com/WCI
For terms and conditions, please visit https://LaurelRoad.com/WCI
Laurel Road is a brand of KeyBank N.A. Member FDIC.
All products are offered by KeyBank N.A. Member FDIC. ©2025 KeyCorp® All Rights Reserved.

The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor
Join the community on Twitter: https://twitter.com/WCInvestor
Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor
Join the community on Reddit: https://www.reddit.com/r/whitecoatinvestor
Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com
Sign up for our Newsletter here: https://www.whitecoatinvestor.com/free-monthly-newsletter

00:00 WCI Podcast #436
02:20 Spending in Retirement (Decumulation)
19:53 Changing Asset Allocation in Retirement
25:49 Calculating How Much Is “Enough”
31:49 Gifting a House Before Death
36:45 What to Spend First in Retirement

Today we are chatting with a professor who has become a multimillionaire. His wife is a dentist who owns a private practice. They are both about 10 years out of training. They are debt averse and excel at tackling their goals. He said they have worked hard to pay off their mortgage, saved to build wealth, and they have also started their real estate journey by purchasing their first rental property. One of their big secrets to success is having a monthly date night where they go over and discuss their finances. This keeps them focused on their goals and helps them ensure they are doing everything they can to meet those goals. For Finance 101 we are talking about financial waterfalls.

This podcast is sponsored by Bob Bhayani at Protuity. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://WhiteCoatInvestor.com/Protuity today by email info@protuity.com or by calling (973) 771-9100.

The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Have you achieved a Milestone? You can be on the Milestones to Millionaire Podcast too! Apply here: https://whitecoatinvestor.com/milestones

Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com
Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube
Student Loan Advice for all your student loan needs: https://studentloanadvice.com
Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor
Join the community on Twitter: https://twitter.com/WCInvestor
Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor
Join the community on Reddit: https://www.reddit.com/r/whitecoatinvestor
Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com
Sign up for our Newsletter here: https://www.whitecoatinvestor.com/free-monthly-newsletter