Wall Street is in a box right now

I did my friend Stephanie Ruhle’s show this morning to let MSNBC viewers in on what’s happening with the recent stock market volatility. I’m joined on the panel by Bill Cohan (Vanity Fair) and Bret Stephens (New York Times). Hope this was helpful, you watch it here: Is there reason to hope tariff progress is […]

The Business of Medicine with Dr. Jason Mizell – Podcast #83

Dr. Jason Mizell has been teaching a personal finance course, the Business of Medicine class, at his academic institution for medical students and residents for several years. It is inspiring to see what he has created and the difference he is making in the lives of these trainees. There is a growing number of academic […]

Google’s “Other Bets”

I’m using the day to catch up on a bunch of reading. I came across this story about Alphabet’s Waymo division hitting another milestone – they’re now the first company to charge passengers money for an automated taxi service on the streets of the real world. Reuters says a 15 minute / 3 mile ride […]

A Bond Yield Table Makes It Clear Which Duration You Must Choose

Hopefully, everybody has been building a CD Step Stool or a Bond Step Stool (not a ladder) in this rising interest rate environment. A Step Stool is the smarter approach because the short end of the yield curve has been rising faster than the long end. The Fed Funds rate is the shortest of the […]

8 Tips for Employing a Nanny the Right Way

[Editor’s Note: The following post was submitted by regular reader and occasional contributor, Dr. Matthew Pirotte, MD, FACEP, an Assistant Residency Director for the Northwestern Memorial Hospital Emergency Medicine Residency Program. You can follow him on Twitter @ MJP_MD. We have no financial relationship.] Many couples will end up paying for childcare in one form or […]

Is The Yield Curve Coming to Kill You?

 Is the yield curve about to invert? If it does, are we guaranteed to have a recession in the US economy? What about a stock market crash? How do we separate fact from fiction, noise from signal regarding this important topic? Josh Brown and Michael Batnick break it down for you and share some […]

Sicko Mode

How did Travis Scott notch the number one single in America this week, despite the fact that it’s been on the radio since August? How does he keep the album it’s on at the top of the Billboard 200 all these weeks later, in the age of streaming and infinite new music drops? He found […]

IRAs and Blended Families

In today’s society, the historically “traditional” family is becoming less and less commonplace – apparently as many as 50% of all children under age 13 are currently living with one biological parent and that parent’s current partner who is not a biological parent of the child.  Often as well, there is a significant age differential […]

Common Financial Blind Spots On The Road To Financial Independence

If there’s a car in your blind spot and you swerve suddenly, there’s a good chance you’ll get into an accident. Your accident will not only cost time and money to fix, you might also suffer an injury or even die. If you have a financial blindspot, the consequences can be just as severe. I can’t teach you […]

Why You Should Not Give Up On Public Service Loan Forgiveness

[Editor’s Note: The following post originally published as one of my regular articles with Forbes where I gave this response to the negative news coming out about the future of PSLF. If you are reading this, you likely have a student loan burden that has you a little worried. I’ve recently compiled the information you need to […]

A Round Trip Through a Crowdfunded (RealtyShares) Equity Investment

[Update Prior to Publication: I first wrote this post a couple of months ago. It was written now that after several years of investing with, monitoring, and writing about RealtyShares, I was finally comfortable giving them a pretty strong recommendation. I had been round trip with four debt investments and an equity investment and the […]

Eleven Rules for Ethical Advisors

I had not come across financial advisor Dan Candura’s columns before on Investment News, but I’m glad I saw his final one, which came out last week. Dan is currently battling cancer and has given his financial planning clients a year to seek out new advisors for themselves because of the state of his health. […]

My Bitcoin Wealth Management Panel

[embedded content] Josh here… I was honored to have moderated a panel at the 2018 Consensus: Invest conference this week in Times Square in which we discussed whether or not crypto currencies and Bitcoin will ever become a wealth management topic. My panel, three gentlemen I invited personally: Tyrone Ross of Noble Bridge Wealth Management, […]

DAF Giving Tutorial from Fidelity and Vanguard Charitable

[Editor’s Note: The following article from Physician on FIRE is a practical “how-to” guide to using a Donor Advised Fund (DAF). A DAF can grease the skids of giving, facilitate some unique tax strategies, provide anonymity, and increase convenience. However, when using one remember that despite receiving your tax break upon contribution, you haven’t actually helped […]

The Commish

Last night I had the pleasure of attending a talk put on by Andrew Ross Sorkin and the New York Times in their auditorium on 41st Street. Andrew’s special guest was Securities and Exchange Commission Chairman Jay Clayton and the conversation was about blockchain technology, crypto currencies, distributed ledgers, initial coin offerings and a lot […]

6 Tips For Those Who Have Enough

“Enough” is a critical concept when it comes to reaching financial independence. The concept of enough is that once you have reached a certain level of wealth (or truly passive income, as they’re essentially interchangeable), having more doesn’t actually lead to any increased happiness. In fact, in many situations, more leads to decreased happiness. Mo’ […]

How to catch a criminal in the White House

The United States almost faced a constitutional crisis above and beyond anything the country had ever dealt with before. In 1973, as the press and the Justice Department were closing in on President Richard Nixon for his role in the Watergate scandal, a parallel investigation was happening – on an entirely separate track – into […]

What Are Your Thoughts: Are Stocks Predicting Recession?

[embedded content] Michael Batnick and Josh Brown of Ritholtz Wealth Management play their favorite game, What Are Your Thoughts? In this episode: * So you got your market volatility, are you happy now? * What to make of this year’s hedge fund returns. * What’s worse, never being ahead or blowing a huge lead? * […]

2019 S&P 500 Price Targets By Wall Street Strategists Are Mostly Bullish

There’s a lot of uncertainty as we head into 2019. The Fed is expected to raise rates another two to four times. We’ve got a slowing housing market thanks to rising rates, rising inventory, and lower overall affordability. We also have constant geopolitical risk that never seems to go away. As investors, we must properly […]

Nearing Retirement – Podcast #82

Podcast #82 Show Notes: Nearing Retirement A listener asked if I could dedicate a podcast to retiring and retirement strategies. She has questions like “do I really think a portfolio 100% in index funds is appropriate for someone retiring? What about some alternative strategies like bond ladders or dividend paying stocks or using options as […]

How to Fix the Veterinarian Student Loan Debt Problem

[Editor’s Note: The following post was submitted by a veterinarian who blogs anonymously at Financial Wellness DVM. We have no financial relationship. Pediatricians think I pick on them a lot, but the truth is that when I am asked to pick out a profession with a terrible return on the investment of their education, veterinarians […]

My favorite analogy for stocks vs the economy

from a new interview I did with NPR this week: BROWN: And I’m now going to give you my favorite analogy. So a woman is walking through Central Park, and she’s got a dog. What’s a very active kind of dog? VANEK SMITH: Oh, like a Jack Russell terrier or something like that? BROWN: Fine. […]

How a 401k Contribution Affects Your Paycheck

As you begin a new job, or if you are a longer-term employee who is just starting to make contributions to a 401(k) plan, you are confronted with a question:  Do you know how a 401k contribution affects your paycheck? Believe it or not, you could actually increase your bottom line assets by reducing your […]

Patient Capital: The Key To Long-Term Wealth Creation

Liquidity is overrated. Once you have about six months worth of living expenses saved, there’s really no need to hoard even more cash since you have insurance. If you do accumulate more cash, that’s called “cash drag” because cash returns have underperformed assets such as stocks, bonds, and real estate since the beginning of our […]

10 Bits of Financial Advice for the Average American

[Editor’s Note: Our CFE week sale ends today. Everything we have here at WCI is on sale. Our online courses are 15% off (Fire Your Financial Advisor, Physician Wellness and Financial Literacy Conference, and Medical Coding and Billing) with code CFE2018. Bulk orders (25+ copies) of The White Coat Investor: A Doctor’s Guide to Personal […]

The End of the Beginning

[embedded content] In his now annual state-of-innovation talk at the a16z Summit in November 2018, Andreessen Horowitz’ Benedict Evans walks through where we are now in software eating the world… and how things may continue to change over the next 10 years. What’s the state of not just “the world of tech”, but tech in the […]

the year no one made money

2018 turned out to be pretty terrible for investors in the US and around the world… from the Wall Street Journal (emphasis mine): By one measure, global stocks and bonds are both on track to finish the year in the red for the first time in at least a quarter-century, said Belinda Boa, head of […]

‘Finding Nemo’ traders misunderstand big one-day rallies

I kicked off my appearance on Wednesday’s Halftime Report with a reminder about big one-day rallies in the stock market…this is counterintuitive stuff and I don’t think the majority of investors are aware of it. We’ve done a ton of research on this topic internally so that we can continually remind our clients of why […]

Obstacles Physicians Face in Pursuing a Side Hustle

[Editor’s Note: Originally published at Passive Income, MD, this post covers a subject near and dear to my heart. While physicians certainly do NOT need a side hustle to be successful (simply seeing patients, saving 20% of gross income, and investing it in boring index funds will lead you to financial independence), my personal experience is that […]

One year later

We’re officially at the one year mark from the day everyone in America temporarily went crazy for Bitcoin. The story goes: Bitcoin prices had doubled from $3,000 to 6,000 in the fall of 2017 and had become a gigantic, raging mania across the Internet and social media globally. The olds had begun to hear bits […]

Some Advanced 2018 CFE Reading

Well, here we are at the end of CFE week, although the 15% discounts on our online courses (use code CFE2018) and bulk book sales of The White Coat Investor book (57% off orders of 25+, email [email protected]) will continue through Monday, and I’ve got far more books left in my stack than I have […]

Being Thankful For All That’s Good And Lucky In This World

Happy Thanksgiving! Despite giving up all my portfolio gains for the year and then some, I’m thankful for the incredible recovery we’ve had since 2009. Without the bull run, I probably wouldn’t have been able to stay unemployed since 2012. The value of money comes nowhere near the value of time. It’s sad the good times […]

Medicine and Finance in the UK with Dr. Nikki Ramskill – Podcast #81

Introduction: This is the White Coat Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street. We’ve been helping doctors and other high income professionals stop doing dumb things with their money since 2011. Here’s your host, Dr Jim Dahle. WCI: Welcome to White Coat Investor podcast […]

Yards After Contact

Let me tell you my comic book origin story, the executive summary version: I began managing money for retail clients one year before the dot com bubble burst, so my first three years were spent helping people through a 50% decline in the stock market. I was in my early twenties talking to clients in […]

How to Resolve an Over-Contribution to Your IRA

Even with our best laid plans, sometimes we make mistakes. Perhaps you underestimated your income for the year and contributed more to your IRA than could be deductible; maybe you rolled over an amount that was not eligible for rollover; or maybe you made a contribution to an IRA that you were not eligible to […]

Doctor Specific Books for CFE Week

[Welcome to post # 3 of our 2018 CFE Week! Don’t forget that our online courses are 15% off until Monday (code CFE2018) and that we’re offering bulk WCI book sales at an even larger discount than normal (57% off list, email [email protected]).] If you have a popular blog and have ever done a book […]

Okay here’s what’s going on

I don’t have any empiricism to attach to my remarks below. There’s no evidence for anything I’m about to say here, which is rare for this blog, but whatever I’m saying it because I think this is what’s going on… This week marks the ninth week of the correction that began in US stocks during […]

Why are Social Security benefits taxed?

Hey, I paid in all of this money over my career. Now that I’m taking money back out of it, they’re taxing me again. Seems like I’m paying taxes on tax money I paid in. Why are Social Security benefits taxed? This question comes up pretty regularly – and recently it came up again via […]

Why It’s Better To Retire In A Bear Market Than In A Bull Market

Living a comfortable retirement life is all about managing expectations. You generally don’t need as much as you think to be happy because the freedom you gain more than makes up for lost income. However, if you retire at the top of a bull market, and don’t change your risk profile, you’re screwed. The day […]

Continuing Financial Education (CFE) Week 2018

We have a little tradition here at The White Coat Investor. Each year at Thanksgiving time we make a big push for you to do your annual Continuing Financial Education. As long-term readers will recall, I consider your initial financial education to be reading three or four books and then recommend you follow a good […]

Message from Jeff Bezos

Posted November 18, 2018 by Joshua M Brown [embedded content] Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer. Now go talk about it. Read this next.

A Divorce Ruined My Life, But I Clawed My Way Back

Divorce is one of the worst destroyers of wealth. May you never have to go through one. Love birds beware. The following is a guest post from FS reader and medical doctor, Xrayvsn. Divorce. Few words in the English language can elicit as negative a visceral response as that of divorce. Despite its increasing prevalence […]

The Best Way to Donate A Hundred Grand

[Editor’s Note: The following first appeared on WCI Network partner, Physician on FIRE. PoF has actually made a bit of name for himself in the blogosphere for writing about charitable giving and donor advised funds in particular. As we come into “giving season” I think it’s highly appropriate to bring one of these excellent posts […]

An update from Moronland

this is incredible pic.twitter.com/znPTliZpEv — Josh Billinson (@jbillinson) November 16, 2018 This is what you’re up against each day. Try not to push yourself too hard or expend too much energy. And stop talking to the wall.

Oversaving and What To Do About It

Q. Have you ever thought about doing a post on oversaving? I realize most docs probably have the opposite problem, but I bet there is a subset of the FIRE crowd that this may apply to. Does this ever come up in all the interactions you have? A. It was no surprise to see this […]

Retiring Before a Bear Market

[embedded content] This might be one of the most important conversations we’ve done at The Compound this year. It’s every investor’s worst nightmare and we get people asking us about this scenario all the time. Ben Carlson looked at what every retiree’s worst nightmare would look like under a range of stock market crash scenarios. […]