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: ...

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 ...

June 15, 2021 Employers Want Help with Health Costs The cost of employer health insurance has skyrocketed, and workers are picking up some of that growing tab. Amid employees’ grumbling, employers are loath to push more of the cost onto their workers. That’s why the consensus view among major employers, expressed in a recent survey, sounded like a cry for ...

June 17, 2021 Workers Overestimate their Social Security The U.S. Social Security Administration reported a few years ago that half of retirees get at least half of their income from their monthly checks. For lower-income retirees, the benefits constitute almost all of their income. Yet Americans have only a vague understanding of how this crucial program works – one of ...

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 ...

Student loans have been on the back burner for the last year or so, as borrowers have enjoyed 0% interest on their federal loans. There has been lots of talk in Congress about loan forgiveness and what that could look like.  With the break on interest scheduled to come to an end this Fall, student loans are about to come ...

June 8, 2021 $4 Billion in Pension Payments Returned It’s the employer’s responsibility to find former employees and keep them apprised of any retirement benefits they left behind. But that hasn’t always worked out. Some employers don’t have former workers’ current contact information, and others don’t bother to track them down. Worst-case scenarios are often fallout from a merger: the ...

[Editor’s Note: Today is the final day of our FLASH SALE on WCI courses!  Use coupon code 5000SALE to receive $50 (5000 cents) off of any of our courses, You’ll also receive a free WCI t-shirt as we celebrate 5000 sales of Fire Your Financial Advisor. Sale ends tonight at midnight MST.] Purpose of the WCI Medical School Scholarship We’re very ...

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