Financial issues are challenging to deal with. This is owed to the fact that it is highly likely those who experience them have a hand in making it happen.
Enter “The White Coat Investor”. This magnum opus by Emergency Physician Dr. James Dahle is a high-yield manual that looks hard into the financial habits of professionals in the medical industry. This book makes it clear that while doctors and other specialists are not to be taken lightly with consideration to intellect and training, the fact of the matter is, they are still human beings. As human beings, they are not necessarily financially intelligent.
The book, “The White Coat Investor,” addresses this effectively with its structured chapter by chapter discussion of the ways by which a professional could save up money from mere income to turn it into wealth that could secure the future.
Table of Contents
The book boasts of 16 purposeful chapters that walk the readers through sound financial analyses and advice:
Chapter 1: The Big Squeeze:
This part discusses how tuition keeps increasing, lowering reimbursement, and regulatory headaches ruin your life.
Chapter 2: Millionaire by 40
This part discusses one can build a net worth with 7 figures within 5 to 10 years out of residency.
Chapter 3: If I had a Million Dollars
This chapter mentors professional how they can go about accumulating wealth by effectively saving income and vice versa.
Chapter 4: Medical School and Your Wealth
This part assists professionals in choosing the right school and expertise to dignify a specific professional aim.
Chapter 5: Residency and Your Wealth
This goes through what financial steps a professional should take as a resident.
Chapter 6: The Secret to becoming a Rich Doctor
This chapter instructs one how to get out of debt, purchase the house one has been dreaming of, and build a family within the five years of residency graduation.
Chapter 7: The Retirement Number You Control
This discusses why one’s savings are more pertinent compared to returns of investment.
Chapter 8: The Motorway to Dublin
This stresses how one can avoid making bad investments and useless purchases.
Chapter 9: Getting Off the Motorway
The chapter imbues upon the reader the value and how to invest in real estate, life insurance, private investments, and ultimately, one’s house.
Chapter 10: Paying the Help
This discusses how one can get good advice for a decent price.
Chapter 11: The Basics of Asset Protection
This part goes into detail on how one can safeguard his or her funds from lawsuits.
Chapter 12: Estate Planning Made Simple
This chapter teaches how one can avoid estate taxes, how heirs can be effectively protected, and ultimately avoid probate.
Chapter 13: Income Taxes and the Physician
This part is an analysis of why people pay handsome amounts for taxes and what can be done about it.
Chapter 14: Choosing a Business Structure
This is a discussion on why, instead of being protected, incorporation of business will still expose it to risks and how it would always be subject to paying a lot of taxes.
Chapter 15: Enjoying the Good Life
Here, the reader would be given a how-to on enjoying life devoid of financial worries.
Chapter 16: The Mission of The White Coat Investor
This is the discussion on how doctors can be taken out of the trap of always having to be ripped off.
Financial experts and medical professionals alike agree that the book, “The White Coat Investor,” is a book worthy of a read. Its positive reviews are owed to the fact that readers concur on the premise’s validity, with the concerns really close to home.
Dr. James D. Dahle had does well by educating the readers of the cure to many financial challenges that professionals across the medical industry encounter without alienating other industries. Being able to publish works such as Medical Economics”, “Ophthalmology Business,” and “The Bogleheads Guide to Retirement Planning,” Dr. Dahle had joined the ranks of financial experts that one cannot merely dismiss.