Pump the brakes on your week and take 10 minutes to make your life as a surgeon just a little better…
This week, we are welcoming to the mini-Podcast Dr. James Dahle, a practicing ER physician, and the founder and author of The White Coat Investor. This week, Dr. Dahle talks to us about our own financial literacy and whether we need a financial advisor. Physicians are intelligent enough to learn finance and disciplined enough to follow a good plan, but may not have the interest to do. If this applies to you, then it might be good idea to get a financial advisor. When looking for an advisor, you want to find a a fee-only advisor and you want someone who is going to be a fiduciary for you, who will put your interest first.
How does he suggest we start practicing financial literacy? By doing the following:
Step 1 - Find out how you're paying your financial adviser
Step 2 - Find out how much you have or will be paying your adviser annually
Most Importantly, find a few minutes this week to find how and how much you're paying for your financial advice!
If you’re not familiar with James M. Dahle, MD, FACEP, he graduated from Brigham Young University with a BS in Molecular Biology in 1999 and the University of Utah School of Medicine in 2003. He trained at the University of Arizona Emergency Medicine Residency Program from 2003-2006, and then served four years with the Air Force and the Navy, practicing medicine in an academic institution, a small community hospital, a trauma center and in military facilities on four different continents. He is now a partner with Utah Emergency Specialists, seeing patients in a community hospital ED just South of Salt Lake City.
In residency, he developed an interest in personal finance and investing. In 2011, he started The White Coat Investor, now the most widely-read physician-specific personal finance and investing website in the world with over 900,000 page-views per month. In February 2014, he published a best-selling book, The White Coat Investor, A Doctor's Guide to Personal Finance and Investing. He also runs a successful podcast, videocast, CME conference, newsletter, forum, and a scholarship program giving back to medical students. Most recently, he launched the online course "Fire Your Financial Advisor: A Step by Step Guide to Developing Your Own Financial Plan. His financial articles have appeared in numerous online and printed publications, including ACEP NOW, and he is a sought-after speaker best known for helping physicians and other high-income professionals get a "fair shake" on Wall Street.
Financial Literacy is a perfect example of how surgeons can improve their effectiveness inside and outside of the OR.