MtoM #246: Neonatologist's Hobby Turns into Lucrative Side Gig and Alternative Investment and Finance 101: Alternative Investments

We have a Milestone on the podcast today that we have never heard before. We are chatting with a Neonatologist who has become financially stable enough to start investing in comic books. He has acquired a $500,000 collection. He said he was on his way to FIRE and realized he really enjoys his job and wanted to spend more along the way. So he went back to his highschool passion of collecting comic books. The cool thing is that this hobby has become lucrative as an alternative investment. He has made six figures in buying and trading comic books. It just goes to show that there is real joy in spending and enjoying your money alongside saving for retirement. After the interview we are talking about alternative investments 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 [email protected] 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  00:00 MtoM Podcast #246 02:08 $500k Comic Book Collection 13:27 Advice For Others 15:32 Alternative Investments

Today we are answering a handful of tax questions. We start out talking about how to help your kids do their taxes and how to educate them along the way. We also discuss how much they can put into a Roth IRA. We talk about mitigating capital gains taxes when selling stocks and also discuss how to simplify your portfolio when moving away from individual stocks and into index funds. We also answer a question about how to decide between an LLC and a Sole Proprietorship for your business and what the impact of that choice may have on your taxes. Article from Mike Piper on Contribution Limits: https://obliviousinvestor.com/can-you-double-count-earnings-for-ira-and-401k-contributions  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 #442 08:50 Exchange/Swap Funds 19:15 LLC vs. Sole Proprietor 26:08 Invest vs. Partnership Buy-In 33:30 White Coat Financial Planning 43:40 Revenue Credits 46:04 Undoing Direct Indexing

Today we are chatting with a physician who helped her parents pay cash for their car for the first time in their lives. She was vulnerable with us and shared that her parents don't have great financial habits and are going to need a lot of financial help from her. She has begun to educate them around how to be wise with their money and paying cash for the car was a big step for them. She knows that her parents want to be independent and she sees helping them learn what she has learned about money is a kindness to them that will allow them to be independent longer. After the interview we will talk a bit more about financially helping your parents 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 [email protected] 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  00:00 MtoM Podcast #245 02:04 Physician Aids Her Parents in Buying a Car with Cash 16:17 Helping Your Parents with Their Finances

We are answering a variety of your questions today. We start out talking about methods to save up for an early retirement. We answer a question from a listener who received an inheritance from a Canadian relative and they want to know if they should leave the money in Canada or bring it to the US. This question dives into political considerations. We then talk about the 4% rule and answer a questions about capital preservation. 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 #441 07:04 Saving for Early Retirement 13:30 Moving Money from Canada to the US 20:07 The Real Estate Market Today 28:50 Implementing the 4% Rule 38:54 Cutting Back at Work

Today we are chatting with a one doctor couple who paid off $205,000 in only six months! They took advantage of the payment pause during covid. During this time she got her practice started and once the pause lifted and her practice took off they went after the loans with a vengeance. They met with Andrew at StudentLoanAdvice.com to make sure they had a good plan. Then they poured all their extra money into the loans and got rid of them in record time. Now they are excited to start growing their wealth. After the interview we are talking about health insurance 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 [email protected] 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  00:00 MtoM Podcast #244 02:26 Paid Off Student Loans in 6 Months 14:00 Advice For Others 17:20 Understanding Health Insurance

Today we are talking about building a balanced portfolio and get into two different questions about asset location. We discuss TIPs and when and if you should use them. We get into portfolio allocation and discuss if it is too risky to have a 100% stock portfolio. We walk you through how to buy ETFs and end with a discussion around investing in films. 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 Disclosures: Laurel Road is a brand of KeyBank N.A. 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 #440 03:30 Asset Location Priorities 27:12 Reasonable Asset Allocations 37:54 How to Buy ETFs 45:47 Investing in Films

Today we are talking with a full time locums doc who has paid off his student loans. He is a child and adolescent psychiatrist and tackled about $400,000 in only 4 years. He refinanced a couple of times and he said it is debatable if that was the right choice, but at the end of the day he just made big payments and poured in everything he could until the loans were done. He said as a locums doc his income is fairly variable so he always has a big chunk of cash available for taxes and expenses and he used that money to wipe out the last of his loans. Despite putting so much towards his loans he has also saved more than half a million dollars and also bought a new car with cash. He also provided a lot of great information about being a locums doc. After the interview we are talking about how dental insurance works for Finance 101. Step away from the volatility of the markets, and put your money back to work with MLG Capital's series of private real estate investment funds. With over 35 years in the real estate industry, MLG Capital has the experience to provide investors with substantial returns and the track record to back it up, more than doubling every dollar invested through multiple investment cycles. Their series of private investment funds target an eleven to fifteen percent rate of return net to investors through tax-efficient quarterly distributions. The fund structure prioritizes generous returns to investors FIRST, before MLG can share in any profits, demonstrating their culture of absolute integrity. Experience the peace of mind that comes with investing in diversified private real estate with MLG Capital. Learn more about investing by visiting https://MLGCapital.com/WhiteCoatInvestor 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 #243 02:45 Locums Psychiatrist Crushes Student Loans in 4 Years 25:42 How Dental Insurance Works

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 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 #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 [email protected] 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  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  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 #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