[Editor's Note: We’ve already received dozens of applications for the 2024 WCI Medical School Scholarship, but we still need your help in giving away more than $60,000 to our future physicians. If you’re a working or retired professional who would like to give back to the medical community, apply to be a scholarship judge. You can find all the information here, and if you’re interested in donating your time, send an email to scholarship@whitecoatinvestor.com with “Volunteer Judge” in the subject line. Become a scholarship judge today and help WCI invest in the doctors of tomorrow! And if you’r ..read more

By Dr. Jim Dahle, WCI Founder The most expensive asset that many doctors, particularly dentists, will ever sell will be their practice. This sale may involve capital gains totaling hundreds of thousands or even millions of dollars. The capital gains taxes can be substantial, so it was no surprise to get a reader email like this one: “I'm an 84-year-old dentist about to sell my practice. How can I avoid paying lots of taxes? Take payments over three years, use contract to borrow money to use day to day, and just pay interest?” Wow, 84 years old! I'm impressed. Let's see what we can do to hel ..read more

By Dr. Santi Tanikella, Guest Writer My grandmother got married at the age of 9. Her husband was 14 at the time. That was when her education ended and her entry into family life began. My mother got married when she was 20 after receiving her bachelor’s degree in education. My father was 30 and in the process of obtaining his master’s degree. Soon after getting married and migrating to Canada, she worked in a factory to help make ends meet. She later went on to become a nurse. My husband and I, both physicians, got married at the age of 29 just as we were completing our respective residency p ..read more

By Dr. Jim Dahle, WCI Founder Once you have decided to invest in real estate, at least outside of publicly traded REITs, you will quickly discover one of the biggest dilemmas in this space—the minimum investment vs. diversification dilemma. It basically looks like this. Consider a doctor five years out of residency who has now paid off student loans and is living in a “doctor house.” This doc makes $300,000 a year and saves $60,000 a year. Perhaps the investment portfolio is sitting at $400,000 right now. The doc decides to invest 25% of the portfolio into real estate. Twenty-five percent of ..read more

By Max Schloemann, Guest Writer Social inflation in the United States continues to intensify and bear influence on liability-based industries. This cultural shift toward more extravagant claims and indemnity payouts is leading to higher loss ratios for medical malpractice insurers. As a result, medical malpractice insurance premiums are being raised to help mitigate losses and ensure solvency. In my role as a medical malpractice insurance broker, I detect growing concern among physicians about claim severity and inflated verdicts. These socially driven trends contribute to increased insurance ..read more

Today, we answer several of your mortgage questions, including if you should put all the money you can toward your down payment or use some of it to pay off student loans and what kind of mortgage you should get. We discuss a unique situation around a universal life policy, and, once again, we answer that for the vast majority of docs no annuity in any of its sneaky forms is a worthy purchase. Finally, we answer a question about if paying off your student loans slowly actually improves your credit score. We also have a short interview with Jim Sheils from SI Homes.    Should Y ..read more

[Editor's Note: Today is the day that could change the lives of every resident reading this. Beginning at 6pm MT, WCI founder Dr. Jim Dahle and StudentLoanAdvice.com co-founder Andrew Paulson will lead WCI’s Resident Webinar that will jumpstart your financial education. You’ll learn the secret to being a financially successful doctor, how to win on your student loans, and how to understand investing so you can start building wealth ASAP. Best of all, it’s totally free. Make sure to register and join us tonight. It could be a life-changing experience worth millions of dollars!]   By Dr. Fr ..read more

By Dr. Jim Dahle, WCI Founder Unlike the Vietnam era, most Americans are now thankful for the service of their military members—including doctors, lawyers, pharmacists, and other “high-income” military professionals. This is a good thing; significant sacrifices are being made by these folks. However, the biggest sacrifices are usually not what a typical civilian might think. As we recognize Memorial Day today, here are 10 reasons you should thank military docs for their service.   #1 Getting Shot At Most people think the reason you should be thanking military doctors is because they are ..read more

By Josh Katzowitz, WCI Content Director George Miller is one of the bigwig movie directors in the world of film. It’s been that way since 1979 when the then-26-year-old directed Mad Max, the post-apocalyptic action film that introduced Mel Gibson to the world and extolled the dangers of a renegade cop to murderous motorcycle gangs. Since then, Miller won an Academy Award for 2006’s Happy Feet, directed one of the best pig-centric movies of all time in 1995’s Babe, and continued the Mad Max franchise that gets credit for introducing some of the best action movies in cinematic history. He also ..read more

By Dr. Jim Dahle, WCI Founder There are a lot of nice advantages of using exchange-traded funds (ETFs) over traditional mutual funds (MFs). However, one of the disadvantages is that you actually have to “trade” them. That is, you have to put in buy and sell orders in real time via a brokerage. Thanks to that newfangled internet, this is neither difficult nor expensive, but any increase in financial difficulty is likely to induce some investors to run to their nearest financial advisor and pay thousands a year rather than learn and implement a little bit of knowledge. As people learn how to do ..read more