Whole life insurance is frequently inappropriately sold to doctors and high-income professions. These are the top questions about whole life insurance I get by email, by blog post comment, on the WCI Forum, and in daily life.   Should I Buy Whole Life Insurance? Probably not. Whole life insurance does four things: Provides a death benefit in case you die ...

Setting up a Backdoor Roth can be confusing, so I thought I’d put together a tutorial on the Backdoor Roth IRA steps people can refer to when they go through this process. Let’s get started.   What Is a Backdoor Roth IRA? Despite it’s name a Backdoor Roth IRA is not an account, it is a process with two steps: ...

The rate of inflation went up this Spring and that has caused some significant fluctuations in the market as well as a lot of talk about inflation. Given the fact that inflation has been low for so long, novice and young investors may not know a lot about inflation, so today we’re going to take an in-depth look at it. ...

[Editor’s Note: Today’s WCI Network post is from Passive Income, MD, and describes a surprising number of doctors and one solution to their issue of living paycheck to paycheck.  ] I was having a discussion with a colleague recently, and the conversation eventually turned toward finances. He informed me that if his home refinance didn’t go through, he would have ...

Endowing a university scholarship requires little effort, costs less than you might think, and allows you to be pretty specific about who gets the money. Many of you know about The White Coat Investor Medical School Scholarship program. We run it right here on the blog. It is essentially an essay contest that gets close to a thousand applications a ...

This podcast is all about you and what you want to talk about. Today it is investments. How do you calculate return on investment? What is the best way to use a UTMA account? Why shouldn’t you go 100% TIPS? Which is better for investing, dollar cost averaging or lump sum? These are the topics we discuss in this episode. ...

[Editor’s Note: Today’s guest post was submitted by a regular reader and Anesthesiologist from Newport Beach, CA that wishes to remain anonymous. I applaud her patience and persistence in a difficult situation as well as her willingness to look at her own relationship with money. We have no financial relationship.] Can you achieve financial security when your partner is not ...

Just because you are self-employed doesn’t mean you don’t have options to save for retirement. Here’s a rundown of the best retirement options for self-employed workers.   Retirement Accounts for the Self-Employed There are many advantages to being self-employed when it comes to saving for retirement. As an independent contractor (ie, paid on a 1099 instead of a W-2), you ...

[Editor’s Note: Today is the LAST day to enroll in Dr. Jimmy Turner’s Alpha Coaching Experience.  This is the only program for both male and female physicians that teaches the 3 pillars to finding freedom through mastering your money, your mindset, and living your ideal life.  Doors close tonight at midnight tonight, and won’t be open for another 4-6 months.  ...

[Editor’s Note: For a limited time, if you refinance at least one federal loan, Common Bond is offering 0% APR for the first 6 months of your student loan refinance. This deal is in addition to their usual $300-$550 cash bonus. Click here for more details. And, we’re sweetening the deal by giving away for FREE our flagship course, Fire Your Financial Advisor (a $799 ...

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