The White Coat Investor: A Doctor's Guide To Personal Finance And Investing Download Free (EPUB, PDF)
Written by a practicing emergency physician, The White Coat Investor is a high-yield manual that specifically deals with the financial issues facing medical students, residents, physicians, dentists, and similar high-income professionals. Doctors are highly-educated and extensively trained at making difficult diagnoses and performing life saving procedures. However, they receive little to no training in business, personal finance, investing, insurance, taxes, estate planning, and asset protection. This book fills in the gaps and will teach you to use your high income to escape from your student loans, provide for your family, build wealth, and stop getting ripped off by unscrupulous financial professionals. Straight talk and clear explanations allow the book to be easily digested by a novice to the subject matter yet the book also contains advanced concepts specific to physicians you won’t find in other financial books. This book will teach you how to: Graduate from medical school with as little debt as possible Escape from student loans within two to five years of residency graduation Purchase the right types and amounts of insurance Decide when to buy a house and how much to spend on it Learn to invest in a sensible, low-cost and effective manner with or without the assistance of an advisor Avoid investments which are designed to be sold, not bought Select advisors who give great service and advice at a fair price Become a millionaire within five to ten years of residency graduation Use a “Backdoor Roth IRA” and “Stealth IRA” to boost your retirement funds and decrease your taxes Protect your hard-won assets from professional and personal lawsuits Avoid estate taxes, avoid probate, and ensure your children and your money go where you want when you die Minimize your tax burden, keeping more of your hard-earned money Decide between an employee job and an independent contractor job Choose between sole proprietorship, Limited Liability Company, S Corporation, and C Corporation Take a look at the first pages of the book by clicking on the Look Inside feature Praise For The White Coat Investor “Much of my financial planning practice is helping doctors to correct mistakes that reading this book would have avoided in the first place.” – Allan S. Roth, MBA, CPA, CFP®, Author of How a Second Grader Beats Wall Street “Jim Dahle has done a lot of thinking about the peculiar financial problems facing physicians, and you, lucky reader, are about to reap the bounty of both his experience and his research.” – William J. Bernstein, MD, Author of The Investor’s Manifesto and seven other investing books “This book should be in every career counselor’s office and delivered with every medical degree.” – Rick Van Ness, Author of Common Sense Investing “The White Coat Investor provides an expert consult for your finances. I now feel confident I can be a millionaire at 40 without feeling like a jerk.” – Joe Jones, DO “Jim Dahle has done for physician financial illiteracy what penicillin did for neurosyphilis." – Dennis Bethel, MD "An excellent practical personal finance guide for physicians in training and in practice from a non biased source we can actually trust." – Greg E Wilde, M.D Scroll up, click the buy button, and get started today!
Paperback: 160 pages
Publisher: White Coat Investor LLC The; 1 edition (January 9, 2014)
Language: English
ISBN-10: 0991433106
ISBN-13: 978-0991433100
Product Dimensions: 6 x 0.4 x 9 inches
Shipping Weight: 10.6 ounces (View shipping rates and policies)
Average Customer Review: 4.8 out of 5 stars See all reviews (536 customer reviews)
Best Sellers Rank: #4,166 in Books (See Top 100 in Books) #3 in Books > Business & Money > Investing > Mutual Funds #130 in Books > Business & Money > Personal Finance
About me: second year EM resident in California soon to be married to a family physician in first year of practice.First off, I have to give my praises to the white coat investor website... it has literally changed my life and the way I have started to plan about my future. This book puts all the great information from the blog into format that can be followed with logical flow. It covers all the major financial topics that are pertinent to physicians. It is a fairly easy read that can be done in a day or two. Since reading this book, we started the high deductible health savings account that we are using as a stealth IRA. We maxed out roth contributions that we were eligible from for the previous year due to resident income and are now preparing for the backdoor roth after maxing out her 401k and my 457b. We have specifically set aside 20% of our income for retirement and pay student loan debts out of the other 80%. We have taken control of our 401k and have redirected funds into low cost index funds and out of managed accounts. This book provides all the great info for these strategies. This book is a must read for all doctors that are starting out their financial planning/retirement path. I would personally like to thank James Dahle for taking the time to write this book... $20 is a steal for the info that is in here and I hope it changes your life as it has changed mine.As a side note, right before starting medical school, I met with a "financial adviser" to discuss starting a plan for financial success... I walked away with a whole life policy. (it has since been cancelled). There is good advice out there, but there is so much more bad advice. Read this book and the other reputable books out there to take control of your finances... you might be surprised, like me, and find it a lot of fun!
I'll agree with some others that have pointed out the book does not add anything that is not already covered in the blog. It's a quick read and I handed it off to a friend afterwards. Would be hard to boil down all the great information in the blog in a book form so I understand why the book is inferior. Nevertheless, I recommend going through the blog in detail and foregoing the book.
I'm a personal finance junkie and recently discovered the White Coat Investor online. I don't impress easily, and count myself a devotee of Warren Buffet and John Bogle. Now add Dr. Dahle to the list. This book is one of the best personal finance books you can read anywhere. You don't have to be a health professional despite the title, although you'll get more out of it if you're a non-MD who makes 6-figures or has a high net worth. He's easy to read, follow and understand. He pulls no punches. I really enjoy his approach to life, finances and family. Count me a huge fan. A must add to any personal finance collection. Bravo.
This is a great book to introduce budding high-income potential professionals to the world of finance, wealth-accumulation, insurance, and investing. It has multiple sections that are great for all levels: pre-med school, med school, pre-residency, and attending status. It is written in an easy-to-understand way, and is a fun read.As a fourth year med student at the end of interview season, this book helped me out a lot in terms of finally getting a basic understanding of things you're supposed to know about but no one ever teaches you, such as pros and cons of various insurances doctors need, buying vs renting a house in residency, investment basics, Roth vs Traditional 401ks and other retirement plans, etc. I'm saving the sections that have more to do with attendings (such as protecting your assets, estate planning, etc) for when I'm a little further into residency.If there's one thing I can recommend that this book does not explain, is basic understanding of taxes. I did not know anything about filing taxes or even what income taxes were, so I did an online module on the IRS site that really made sense of all the tax talk in this book. I recommend you guys do the same!I think this book has given me the building blocks to start saving and spending wisely when I start residency. Every medical student/resident should read a book like this.
A lot for concepts here can easily be read in other online articles or you can even see them on YouTube with presentations, drawings and music combined. The best part of this book is not the financial wisdom imparted but it serves as a self help book for medical providers such as myself. Jim is right about one thing...most if not all medical providers know very little about the financial world. And much of his book gravitate on that. He helps steer his target readers into the right direction through his pragmatic writing. I gave him 3 starts because I wished he'd elaborate more about investing in stocks and such.
As a physician, I had pretty much the majority of training/education regarding the human body and essential none regarding finances. It is a travesty that so many doctors graduate med school and residency and are improperly equipped to handle the money that will soon be coming in or dealing with the huge (often seemingly insurmountable) debt that has accumulated as a result of this training.Doctors do have a huge obstacle to overcome. While most people finish college and can then start earning money in a career, a physician in training is at a disadvantage because not only does he or she not earn a salary after college, they accumulate even more debt to pay for medical school tuition and living expenses.As most financial experts preach, the biggest factor in having a successful retirement plan is to invest early so that time/compounding has the power to markedly increase those investments. A physician has pretty much lost at least a decade compared to others if not more (depending on residency/fellowship, etc) and really is behind the eight ball when he or she graduates to become an attending.I wish this book was out when I was a med student/resident because the majority of the information in the book helps docs in that stage of training the most. I personally have been practicing (radiologist) for 12 yrs by the time I laid my hands on this book so a lot of the advice could not be acted on unfortunately but there was still tidbits I gleaned that helped me at my stage.This should be required reading for all med students/residents just as any other medical textbook would be as it prepares young doctors to handle the financial challenges ahead of them.
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