You’ve probably heard this sentence before: “The first million is the hardest.” I received an email about this not too long ago. “I’ve been following you since about 2019 and listening to most of the podcasts. I’ve heard that the first million in net worth is always the hardest. My wife and I are both […]
I often get a question like this one that came in via email: “Do you have any advice on what to do with a 401(k) from an old employer? It is currently with ADP and rather than moving from Insperity to my current employer, is there any benefit to moving it to another platform with […]
This blog occasionally gets into trouble because after years of answering similar questions over and over again, sometimes you want a change of pace. But maybe I’m spending too much time in the weeds and forgetting that most doctors and other high-income professionals reading this site still just need help with what I consider to […]
Nearly twenty years ago, Vanguard introduced the Total World Index ETF (VT). Despite the obvious appeal of such a fund, it was not well received by dedicated investors in low-cost index funds. Part of that was because it was an ETF – not a traditional mutual fund – and most of us at the time, […]
At The White Coat Investor we often talk about risks and costs, usually in terms of the potential to make money or the possibility of losing it. As the first female commercial astronaut to fly into space last year, I think a little differently about risk. Achieving my lifelong goal of going to space was […]
One of the most important lessons a successful investor must learn is to stop chasing performance. When chasing performance, you invest your money in what has performed best recently. It’s a superficial way to select an asset allocation (mix of investment types) and an even more superficial way to choose individual investments to meet your […]
Since mid-2024, BlackRock has offered life-cycle style ETFs, which include an income annuity as part of the asset mix. Now it looks like Vanguard wants in on the action, announcement in December 2025 a new range of target pension funds called Target Retirement Lifetime Income Funds. How do these differ from other target pension funds? […]
Sometimes here in WCI land we think that all doctors make billions of dollars, save 75% of it, get a 25% return, never pay taxes and retire as decam millionaires. In the real world none of that is the case. Every month I see data showing that many regular doctors are not saving much for […]
The followers of The White Coat Investor are on a broad spectrum in their approach to major financial activities (earning, spending, saving, investing and giving), ranging from zealous adherence to detached appreciation. Sometimes people look at it as the WCI community zigs, and I’ve appreciated being allowed to disagree on Vanguard, REITs, and tithes. But […]
Some people would like to know the how and why. Others just want to be told what to do. This post is for the second type of people, especially those who feel a little guilty about their finances. Maybe you’ve been out of residency for a few years and haven’t really paid much attention to […]