Wednesday, January 3, 2018

The Big Kahuna Of Physician Investment Advisors


As a doctor, if you've done any research at all into financial management, you almost surely will have come across The White Coat Investor. Started by James Dahle MD, FACEP, an emergency physician, WCI has morphed into a financial advisory empire. It's been featured in mainstream press, has published advise books, conducts speaking tours, and holds extensive forums on the site for its readers to argue about money and taxes. They even offer scholarships for graduate students.

The web site is vast. There are hundreds of posts and thousands of forum threads to read. Most of the posts are no longer written by Dr. Dahle but by guest contributors. If you have any questions about money I'm sure there is at least one post that covers that topic. You could lose yourself on that site for days trying to read everything they have.

He is very candid about his success. Each year he posts the latest financial results of his business. In his January 2017 article, he notes how quickly the site has grown in readership and monetary success. His income from the blog would make even an orthopedic surgeon blush. He is so successful that when he temporarily lost his physician job (look it up), he was quite happy about possibly taking a year off from the drudgery of working in medicine. Now that is real financial independence.

I hope you have a chance to read through all these investment blogs that I've mentioned this week. You'll quickly realize that you are far from being alone as a doctor who dreams about escaping the tedium of medical practice to live a fulfilling life outside of medicine. There are plenty of people willing to offer advice on how to pull that off. Let's see if you can make 2018 the year you actually take the steps necessary to realize your life goals and financial dreams.

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