Its done by the guys who are at the top of quality and build the systems to be the top of quantity too. Copyright 2023 - The White Coat Investor, LLC. It's not for everyone, so I just urge caution before jumping in. White Coat Investor It's an unsustainable program that I fully expect to get cut or adjusted in the coming years. It's an awesome profession and I love what I do. She only does restorative dentistry - fillings, cleanings, crowns are her bread and butter. White Coat Investor Also, BAH is not taxable. Hi there! Financial Boot Camp will teach you what you need to know to joint the ranks of these financially secure doctors. Announcing The White Coat Investor Scholarship White Coat Investor Podcast on Apple Podcasts There are many more stories of failed practices, people who got burned out and went back to public clinics or associate work and just gave up and are unclear about what to do with their debt among our peer group. Once again, great job on the book and love your blog! Just trying to support her as she considers the change, thanks for all the help! When you buy the book, you simply enter your email and the website automatically sends you the last four chapters and signs you up for our newsletter. This book is squarely aimed at the student. and a lot of work. Several of my peers with more debt have to worry about it more but still have a very viable path towards repayment that isn't debilitating. This thing was well over 300 pages, basically twice as thick as The White Coat Investor. How to Ensure Student Loan Forgiveness Through the for you and every member of your class. Late 20s and a new dental practice owner in a LCOL area. This is the White Coat Investor podcast, where we help those who wear the white coat get a fair shake on Wall Street. Thank you so much for taking the time to write the long replies. Just paperbacks. Love taking care of people but worried about losing your shirt for it? They work 60-80 hours a week 6-7 days per week and have minimal time for vacation. Doctors are notorious for mismanaging their financial resources, but it doesn't have to be that way. This is what I consider basic financial literacy education. Forum Recommendations. They work 60-80 hours a week 6-7 days per week and have minimal time for vacation. I planned on leaving or at least working part time to We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. White Coat Investor Itll just be a slightly lower salary than private practice, and 2-3x lower than what you could have received working for a tech company these days with a bachelors degree and a bit of experience accounting for stock grants etc. This is an amazing gesture that will have a measurable impact on the next generation of doctors and dentists. the rules change over time. plans have to adapt in response. there will always be a need for dentists. the ones that get (imo) into trouble are the ones that cannot be flexible. for instance, if you have to live in one area only, that might limit your income potential and ability to get out of debt. otoh a wonderful practice opportunity may pass into your lap by chance. just cause someone runs a highly successful practice does not guarantee that you should join them--they may be rich because they don't pay well! sometimes your goals at 25 are different than at 35. when you have all the debt and no ability tocontrol your life, it is easy to get down. don't let the negative talk sway your decision. many of them will feel differently in five years and ten years. it is also a stressful time in many lives, with getting married, buying houseshaving kids, etc etc. lots of adjustments during that time period.. Good luck. The foreword for the book is written by the esteemed Rick Ferri, current president of the John C. Bogle Financial Literacy Center, and a speaker at WCICON20. An average and healthy blood pressure reading is anything 120/80 Like the blog, the White Coat Investor Podcast, is dedicated to educating medical students, residents, physicians, dentists, and similar high-income professionals about personal finance and building wealth, so they can ultimately be their Here's how to help. Closed, Sticky: Current Student Loan Refinancing Rates and Best Cash Back Deals on the Internet by The White Coat Investor I hope you will be able to continue this giveaway in the future. The difference? What a generous gift to medical trainees! But the truth is you probably don't need any of that stuff. Your email address will not be published. Came out of school during the end of the pandemic in I think it is super helpful and is also very well written and targeted to healthcare professionals. An incredibly generous act. Apply early as they fill up too and then you are out of luck. Additionally, you can take your developing business and employ associates that you pay a lower wage and those with several associates and multiple practice locations start to make very good livings into the 300k-600k or above with addition of various high profit procedures (implants, sedation dentistry, wisdom teeth extractions etc). The remaining book has a little over 260 numbered pages, plus another 25 or so in the front matter. My sister came to watch you lecture at the U of U one time. Ive been checking out these forums since about my senior year of high school (Im now a senior in college applying for dental school). This is the White Coat Investor podcast, where we help those who wear the white coat get a fair shake on Wall Street. White Coat Investor Don't borrow any more money than you need and live as frugally as possible. On an average dental salary, the payments to get payed off in 6-7 year simply doesn't add up. By giving away a million dollars worth of books to first-year students, we can eventually help create over a billion dollars in increased doctor wealth. Paycheck Protection Program for Small Businesses I'm currently working at a corporate office for a year or so and then was planning At a 4X student loan debt to income (DTI) ratio, this whole thing just becomes pretty much impossible. I Am a First-Year US MD/DO/Dental Student and Want to Be the Champion for My Class! But The White Coat Investor is here to help and guide you every step of the way to give you the full Yes, we're selling this book on Amazon. Thanks again. Started by The White Coat Investor, 06-22-2023, 11:40 PM. WebWritten 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. I've shared your book with all the doctor friends I can. It was fairly inexpensive, but most importantly to me, it didn't have a climbing exclusion. Or would this be more suited for after she started school? After 3 years I now work a chill 30 hr/week schedule and still make a great living for only having gone to school for 8 years +1 year residency., I disagree that dentistry is hard to make money in. Dentist Dr. James Dahle, Emergency Medicine, Founder My wife is a dentist - who may have a shorter span of practice (due to a medical reason I dont want to get into). You would be far better served picking another career with a higher income to student debt ratio that would also afford better quality of life. You can develop a good and efficient practice if you are a good business person and then sell for a healthy profit years later. I would advise that you be very careful. I'm not a dentist but I know many successful ones. As you mentioned, moving to LCOL or higher need area is also super important and lead to less flexibility with regards to future income and practice location. Last year, WCI gave away nearly 24,000 books to first-year medical students. I went to a public state school and got some good scholarships and was able to pay off all of my minimal debt during residency, and now have a job making over 300k per year working 15-16 shifts per month. Hello all I'm a dental student going into my fourth year and I will be doing an AEGD with the US Navy after I graduate in May of 2020. WebThe White Coat Investor series is designed for physicians, dentists, attorneys, other high-income professionals and their trainees. Thank you so much! Is it possible for you to tell me the name of the VCU student that was the champion for our school so I can reach out to him/her to get the copy? No problem whatsoever with that. If he can increase that return by 1%, he would have a total of $182,000. But even if she hates it, its only $10-30. An investor with $10,000 who saves $5000 a year expects to have $167,000 15 years from now if he pulls off an 8%/year return. I currently make about $210k/year and our combined household income is about $350K/year (wife is not in healthcare). Im currently reading through your book as well. White Coat Investor I believe I have the drive and ability to get there, but some people are morbid as ************************ about the career and some times its hard to tell the difference between the people sitting around wishing for the "old dentist lifestyle," or if they're people working their asses off that simply can't get it done under today's student debt load and the environment of current dentistry. But that wasn't the only reason I wrote it. Essentially, once you are in one of these programs its almost like you "have no debt" since someone else has given you a grant to make the payments and you can then invest or live on your regular salary. by The White Coat Investor. Wondering if concierge practices are seeing Recently married, no kids. The main ones are the Economic Injury Disaster Loan and the Paycheck Protection Program. Its just turned to be more time consuming than we thought to verify enrollment. =2 link=bdacs via=yes ]By giving away a million dollars worth of books to first-year students, we can eventually help create over a billion dollars in increased doctor wealth. So, I am very excited to read a book catered to my peers and I. Hey guys, I'm a new dentist grad with about 515k of accrued dental school loans. You can totally do well in dentistry however there will be sacrifices involved with a lot of hard work for 3-5 years at a minimum, and I feel like contrary to medicine it requires that you make a series of sound business decisions and have a good feel for practice management rather than just being a good dentist on the patient care side. Consider a dentist making $100K with a $400K 7% My question here is, do any dentists here that own a private practice have advice as to how I can get to your position? WebThe White Coat Investor: A Doctor's Guide to Personal Finance and Investing. That's a 36,500 * $29.99 = $1,094,000 value. Im just one year to far ahead, but Ill for sure be spreading the word about your free books. Salary is even lower in the military (70-80k range for dentists?) WebFind helpful customer reviews and review ratings for The White Coat Investor: A Doctor's Guide To Personal Finance And Investing at Amazon.com. Comment below! Do you know who the student charged with distributing to the NYU College of Dentistry Class of 2024 is? As you mentioned, moving to LCOL or higher need area is also super important and lead to less flexibility with regards to future income and practice location. To hear the perspective of a MD future spouse watching from the outside is incredibly interesting and something I have not heard before, so thanks RosieQ. How To Be Successful As A Modern Dentist - The White Coat The information is free on the podcast and the blog and our free monthly newsletter. Assuming that you are set on dentistry, I do have a few other suggestions to make things more manageable. Public health had better benefits and better work hours and a set 9-5 sort of schedule with paid days off, all holidays etc. Doximity says $289,000. Your opinions and thoughts will change so much in those 4 years. Will you sell the book on Bookshop.org so I can support local stores instead of amazon? I was 50/50 split on medicine and dentistry because I love the work in both careers and see the significance in both, but the opportunity for autonomy and to be my own boss, so to speak, sort of tipped the scale at dentistry. Thank you for your suggestion. Jan 14, 2021. Who Probably Does Not Need Student Loan Advice? $29.99. The book is only $9.99 on Kindle though. This is the White Coat Investor podcast, where we help those who wear the white coat get a fair shake on Wall Street. Sale. 3 It's important to note that the best time to commit to this in terms of covering your loans is after you have been accepted to dental school but before you start. On the other hand, my fiance went to a private school for her DDS, took on about 350k in student debt and has been on IBR ever since, with total debt now over 400k. White Coat Investor: Arizona Recent Dental Grad vs. $10,000 Per WebSearch in titles only Search in Financial Advisors only. Costs also vary from dentist to dentist. Narrated by: Troy W. Hudson. Good luck! Also keep in mind that all this advice is from an interested and invested future spouse of a dentist and not from someone who "made it to the top" with a successful business who is just killing it financially and loving their life in dentistry. An audio version will be out in a couple of months. Remember, the book is only $9.99 on Kindle. 0 likes. After 3 years I now work a chill 30 hr/week schedule and still make a great living for only having gone to school for 8 years +1 year residency., I disagree that dentistry is hard to make money in. WebI'm just not sure if I'm as great of a fit for dentistry, being less micro-surgically inclined. White Coat Investor The White Coat Investor Podcast | White Coat Investor Straighten out your financial life today! I misspoke by using the term forum, my apologies. Basically if you don't work you don't live "the good life" that you were planning on by going into dental school, and if you do your daily rate is cut in half and looks pretty paltry in comparison. Bravo. Ill look forward to future opportunities if there are ever available. The White Coat Investor Series (4 book series) Kindle Edition Dental Students Can Secure Their. Chances are you could have put in a similar amount of work and have had a very successful non medically related business instead, but if you love doing dentistry then more power to you. Unable to Save For Retirement Worked for va for 14 years before moving across the street to UC system. This year, we want to send out even more. I'm an Emergency Medicine MD engaged to a general dentist and our financial lives are very different as a result of our respective career and education choices. Intro: [00:00:00] This is the White Coat Investor podcast where we help those who wear the white coat get a fair shake on Wall Street. Confidently vet investment opportunities presented by others, as well as those you find yourself. The third section is unique and covers a lot of material you will not find on the blog, on the podcast, in the online courses, or in any of the other books. Employment, Contracts, Practice Management. In fact, we recently finished mailing a note about the scholarship and a free copy of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing to the deans and financial aid officers of some of the country's largest medical and dental schools. Host, Dr. James Dahle, is a practicing emergency physician and founder of the White Coat Investor Blog. I would advise that you be very careful. Ddscook, congratulations on getting out of that much debt so quickly! If your champion has decided to drop out, Ive included instructions for how you can apply. We selected a champion for your class. Interested in any concierge practices experience in expenses (i.e. Depends on your institution and leadership. Add to the fact that the general tasks are very repetitive and wrist/elbow/shoulder and neck pain are incredibly common among dentists and it's a tough career to recommend., How much can you make as a dentist? WebWhat is white coat hypertension? Home | White Coat Investor Was speaking more specifically of the blog and website, which I came upon by someones recommendation as a senior (2013). The author nicely balances the fact that doctors should not be primarily motivated by money with the fact that they cannot ignore it completely. Well see how this goes this Spring and perhaps it will be modified in the Fall. Webby The White Coat Investor. 978-0-9914331-0-0. Now this year. Web Listen to MtoM #53 - Dentist Reaches Financial Independence by White Coat Investor Podcast instantly on your tablet, phone or browser - no downloads needed. I see you have a chapter on non-traditional students, would this book be valuable in helping her decide a school and specialty? Benefits of the Non-Physician Spouse Handling the Finances; A Dentist's First Class Retirement Living WCI No, sorry! As of September 2020 each podcast is averaging 31,000+ downloads. All times are GMT-7. Hi Garrett, Ill check it out and get back to you. MB2 Dental- Anyone consider selling to them? - White Coat Investor $3-600k is very routine. White Coat Investor White coat hypertension is related to high blood pressure (hypertension). However, we're not going to mail out 36,500 books individually. Most likely youre looking for a practice acquisition loan from the doctor and dentist division of a larger bank. Basically if you dont work you dont live the good life that you were planning on by going into dental school, and if you do your daily rate is cut in half and looks pretty paltry in comparison. I start in fall of 2021, but I still want to fill out the application, is it alright if I do that? The original WCI book was 160 pages. WebFrom a dentist: Just wanted to let you know. They work at a military base in Japan and have been loving it with lots of time to enjoy the culture and a good jump off base for travel in East and SouthEast Asia. #1. Search. Im really excited to read this! but enough to live on, you can get a housing stipend or live on base and it's not bad. New Dental Practice Owner - White Coat Investor No, we're not giving out audiobooks. I heard about this from your podcast today and really love the initiative, thank you for presenting us with this opportunity! First option is public service loan forgiveness, working at a nonprofit for 10 years while on a qualified repayment plan and your debt all goes away.