A Doctor's Guide To Personal Finance And Investing

I'm a pharmacist married to a physician, and found the book to be extremely high yield, easily digestible, and immediately actionable for high income professionals who know little to nothing about investing. I'm planning on developing a personal finance lecture for my hospital's pharmacy practice residents, and will buy this book for any of them who commit to reading it.

This book is the foundation all medical students, residents and practicing physicians as a must read to start their financial education. Doctors are some of the most intelligent and well-trained people, but often have almost no financial/retirement planning/investment competence at all (like myself until recently). This book helps train young and old docs simple truths about saving, investing, taxes, and retirement that are even understandable for an orthopaedic surgery resident. I couldn't recommend it more!

Spend less then you make, and the higher percentage of savings earlier in your career, the younger you'll reach financial freedom. I think everyone, not just healthcare providers, should be required to read this before landing that first job, even if only a few will heed the words? Reading this book reminded me of a quote I once stumbled upon that sums up this book, "The rich are rich because they live as if they're poor; while the poor are poor because they live as if they're rich."

Very good intro to money management skills and some of the basic information needed to start to understand the very broad subject of finance. Written from a physician's perspective, making it easier to both read and understand. As a physician, I am admittedly and unfortunately ignorant of the vast majority of this subject. This book helped me to at least begin to understand how deficient I am and begin to do something about it. I wish I had read it in medical school.

As other reviewers have mentioned, I too, have spent many hours reading the posts from Dr. Dahle on his website The White Coat Investor. I was very excited to learn that he published his first book. I had very high expectations given the quality of his website. His book did not disappoint! It was refreshing to read about many points that he has already been discussing over the past few years on his website. This book was a quick read and is a must-have for young professionals. I truly wish that medical/dental/law/business schools across the country would have their alumni departments purchase this book to hand out as gifts to their students.

I thank you Dr. Dahle for your website and for this excellent edition to my bookshelf! You have likely saved me many thousands of dollars in the future.

This book changed my life and my family's future. This is my second time through it. It is a practical action plan to taking back the control we all give up some time during the long road of training we endure. Easy to read and understand. Thank God for the white coat investor.

A refreshing, straightforward read. Having memorized financial blogs like MMM, and NMHD, I still found that they lacked a plan to address the unique struggles of a physician in the finance world. Throughout my residency I have said that I would be debt free by 2 years after residency. Now that have just finished my residency, I will be following this book's advice through the next 10 years, with the goal of being a millionaire by age 40, I really think that it can be done on a typical physician salary!! Awesome book to give you a game plan for life.

Provides great overview of how to prepare a strong foundation for financial independence for physicians. As a graduating resident physician this book gave me a great starting point in starting my financial planning as I transition into my first attending physician job. As physicians we are often clueless about financial 'stuff' and this book was very empowering.

Read the highlights particularly on the starting a business chapter as that is what I am currently doing. Dahle writes clearly and with expert advice. I very much appreciate his input on all of these important financial topics.

As a physician, I had pretty much the majority of training/education regarding the human body and essential none regarding finances. It is a travesty that so many doctors graduate med school and residency and are improperly equipped to handle the money that will soon be coming in or dealing with the huge (often seemingly insurmountable) debt that has accumulated as a result of this training.

Doctors do have a huge obstacle to overcome. While most people finish college and can then start earning money in a career, a physician in training is at a disadvantage because not only does he or she not earn a salary after college, they accumulate even more debt to pay for medical school tuition and living expenses.

As most financial experts preach, the biggest factor in having a successful retirement plan is to invest early so that time/compounding has the power to markedly increase those investments. A physician has pretty much lost at least a decade compared to others if not more (depending on residency/fellowship, etc) and really is behind the eight ball when he or she graduates to become an attending.

I wish this book was out when I was a med student/resident because the majority of the information in the book helps docs in that stage of training the most. I personally have been practicing (radiologist) for 12 yrs by the time I laid my hands on this book so a lot of the advice could not be acted on unfortunately but there was still tidbits I gleaned that helped me at my stage.

This should be required reading for all med students/residents just as any other medical textbook would be as it prepares young doctors to handle the financial challenges ahead of them.

First half of the book establishes basic foundations. 2nd half is where it gets good. Helpful links to more in depth knowledge throughout te book. Bad printed quality. Multiple printing errors and even an illegible page or two.

If you a resident physician with little (or no) financial background, this is an absolute must-read, no exceptions. From student debt management to taxes, liability, asset protection, financial "planning", investing pearls for physicians... this is an EXCELLENT place to start. Would give it 6 stars if I could.

Very clearly written and well organized. Then gives references for deeper dives into different topics. I would recommend this book as the best place to start for every graduating resident or fellow. Only wish I had read it sooner!

As a current first-year medical student, I found this book to be an excellent read and was amazed at how much I learned! This book certainly doesn't claim to be a one-stop financial resource, but it at least gives valuable advice on how to manage your finances as a medical student, resident, and an attending physician. This book helped me start molding a financial plan that I'm confident will help me achieve financial success in the future. I highly recommend this book and definitely plan on referring to it over and over again over the next several years.

I would highly recommend this book for physicians or dentists. I am a dental student about to graduate, and find this easy to understand info very valuable for anyone to know in the healthcare field. Business and finances aren't really taught in school very much, and this book does a great job at filling in the many gaps. Highly recommended!!

If you are like me, a medical student just trying to survive medical training, with no financial education whatsoever, this is a fantastic book to start. It will give you a very straightforward understanding of investing and saving for retirement, as well as common financial pitfalls physicians can avoid. Most importantly, though, is that this book has sparked a genuine interest in investing for me, and I intend to continue reading and learning on the subject throughout my career! I've already got the next few investment books in hand and ready to read. Thank you Dr. Dahle, for your dedication to helping us!

Really informative, inside view of investment and financial planning for physicians. A very quick read with some great recommendations of resources if you wanted to read about the subject. Very laid back and a quick read. Highly recommend it.

A good introduction to finances for physicians who aren't versed much at all in managing their money. However, if you've read other finance books like Boglehead's Guide to Investing you'll probably only find one or two chapters on insurance useful. Certainly a great place to start and build from.

As a young resident, I have really enjoyed reading this book with my spouse. It has helped us simplify and better understand the potentially complicated financial world as well as set goals for future financial stability and success.

What a fantastic book! Jim Dahle MD just saved my (financial) life. My financial situation was getting despondent and I came across this book accidentally (while looking online for tax deductions for doctors!).
What a lucky fins (only wish I had read it as a medical student/resident).
Now, I make sure that every resident and junior attending that I come across, knows about this book and the White Coat Investor blog.
Thank you so much Jim!

This book should be read during medical school, once again during training, and as often as needed while practicing. The basics need to be integrated into any physician's life. It's never too late to learn if you are coming by this in late middle age either!

Absolutely the best book to open your doctor eyes to planning for your financial future. I find myself talking to young college and medical students about it because I wish I would have read this early on in my career!

Finally someone giving medical students and physicians the strait on personal finance! I wish it had been available when I was a medical student - back when America worshiped and lived on credit - before it all came crumbling down in 2008.

This book gives an excellent outline on how to start saving and how to start investing. This book can help you start finding what information you need to know throughout a physicans life. I am grateful here is this resource out there. I also suggest reading the White Coat Investor blog. Many questions that I had were asked and explained in the forums after the blogs.

Thanks Jim!

An excellent guide that goes over all the important aspects of financial planning including taxes, retirement, insurance, and whole lot more. I cannot recommend this enough to any current or future physician (or just anyone who wants to learn more about personal finance). It's taken my financial knowledge from exactly zero to the point where now I feel comfortable with my future financial planning. The book is very straightforward and not too technical, but also not too vague. If you want get a grip on your finances/prepare for your financial future go ahead and get this book.

Dr. Dahle gives an excellent overview of how to make smart financial decisions as a doctor. A physician's relatively high income does not automatically become financial security and a comfortable retirement! What I've read will inform my decisions as I start residency this year; for example buying individual disability insurance and contributing to a Roth IRA. I suspect the money I spent on this eBook will have a very good ROI.

This is an awesome overview for pre-med, med students, residents, and young physicians (or older physicians who have made some bad decisions thus far).

Dr. Dahle also makes several suggestions for additional reading on each topic, if you feel like his chapter doesn't go into enough depth.

This book also got me into reading his blog, which offers more detail and information on any topic in the book.

Graduating dermatology resident surrounded by many physicians living a fancy lifestyle. One of my co-residents scoffed at me when I suggested saving/investing 50% of my salary for a few years post-residency. Great to read that my idea is not so far-fetched. Lots of useful basic info - pretty much all of it on WCI blog but book format much easier to sift through, and end of chapter links to blog and other books are well positioned.

$10 well spent (rather than an over-priced cocktail)

My husband read the book and found it extremely readable as well as comprehensive on financial planning. He really appreciated the advice organized by stage of medical training so that potential financial planning tasks didn’t become overwhelming. We plan to use this book as a key financial resource for the next 30 years.

This is a succinct, well written, and well framed introduction to personal finance for physicians. A must read, especially for students and physicians in training to not make some costly and common mistakes.

People are terrible with money. Doctors are people. People with the potential to make lots of money. This usually manifests itself as people making terrible decisions with lots of money.

This book will save everybody, even non-physicians, from a lot of heartache. Buy this book.

Elegantly simplifies the largest issues into digestible bits. The book's author doesn't pontificate or accuse; it simply gets to the point of what you need to know. Would recommend the Kindle edition for handy links from the book to other sources.
-a resident

I only say that because financial freedom will allow you to practice the type of medicine you wanted in the first place. No "I have to...." No killing yourself to pay for a lifestyle. Get out of debt, enjoy your life, enjoy your work, serve people and be happy! In all actuality, this is a great book for anyone in this type of situation, going from dead broke with lots of expenses to high income and lots of debt. This is an excellent, "common sense" roadmap out of the woods and on the way to financial freedom and personal happiness. Most of us truly got into our work because of a passion for service and learned absolutely nothing about investing. This will get you started no matter where you are in the game. It is especially recommended for people in medical school and early residency before their career gets going so they can get off on the right foot. He runs a blog that has more information. It's written like several medical study guides with into chapter reviews and further reading. Ha ha. I really got a kick out of that.

This book is not a substitute or all encompassing source for physician financial freedom but it is a great roadmap that can get you started or back on track.
Good, honest advice. States his opinion on some things that you may disagree on, but he explains his reasons.

I have read most of the books recommended to read at the end of the investing chapter while I was a 4th year medical student. This book gives me motivation to keep reading some of the other sources mentioned.

Very informative book. I loved especially the chapter on income taxes and physicians. Some great suggestions there especially how to lower tax bill. Overall, the book challenged me to review my financial plan/goals and helped me in seeing areas in my financial plan that can be improved

Easy read filled with great information and even better links for more resources. Really should be read by every doctor, and this is coming from someone who hates finances, taxes, and all things saving.

I'm a frequent visitor to the white coat investor blog, so I have seen much of this information before, but this remains an excellent overview for healthcare professionals in the quest for financial freedom. It is worthwhile to read even if you have read his entire blog before. I do think the information is more helpful/tilted towards young physicians rather than ones closer to retirement.

Easy read filled with great information and even better links for more resources. Really should be read by every doctor, and this is coming from someone who hates finances, taxes, and all things saving.

I'm a frequent visitor to the white coat investor blog, so I have seen much of this information before, but this remains an excellent overview for healthcare professionals in the quest for financial freedom. It is worthwhile to read even if you have read his entire blog before. I do think the information is more helpful/tilted towards young physicians rather than ones closer to retirement.

As a fourth year medical student set to graduate in May and begin residency in July, I realized I am pretty clueless about personal finance and investing. I have 0 business and or finance background. This book shows a reasonable path to getting out of medical school debt and becoming successful in your financial future. Very sound advice and will be recommending this book to the rest of my class.

The White Coat Investor is a terrific overview of personal financial matters and considerations, with suggested reading for further education. I have recommended the book and website to my physician partners, and will do the same for medical students and residents. Jim Dahle has produced an invaluable resource for physicians (and non-physicians) young and not so young!

Could have, would have, should have. I only wish I had this book available and read it 30 years ago. I am a sure my financial condition would be better, however, I am confident that by applying some of these "prescriptions" to my financial condition they will it's health.

Very readable, containing lots of useful info. The white coat investor blog contains much of the same info free, with ads. The book, however, is much better organized for sessions of high efficiency reading. Highly recommended.

As a freshly minted resident, I am glad I stumbled on Dr. Dahle's website and book sooner versus later...the book is largely a consolidated and more organized version of what can be found online, but is totally worth it for the high yield material. Appreciate the linking and networked aspect of the book which let's it interface well with his website. The book and site singlehandedly allowed me to confidently explore and purchase DI, and I look forward to putting some of his investing advice into practice as I slowly move towards accumulating wealth.

This book is well-written and easy to understand, yet is loaded with sage advice for physicians. My wife and I read this book together and it has inspired some great (and important) conversations. I highly recommend this book and look forward to exploring more on The White Coat Investor blog.

This was a very fast read the first time through. I'm happy the author did not constantly repeat himself as I have seen in other similar books. I plan on spending more time with it as I move into my career.

I would recommend this book to every medical professional and student that wants to know more about how the nuts and bolts of investing can work for them so they can maximize their retirement and future earnings. I've been looking for something like this for a long time.

“The White Coat Investor – A Doctor’s Guide to Finance and Investing” by Jim Dahle, MD, should make many wirehouse brokers and life insurance agents shake in their boots. You can quote me on that.

If there was ever a book that needed to be provided to every physician, dentist, veterinarian and other highly paid professional right out of expensive postgraduate school, this is the one. The author, an Emergency Room physician, can be faulted for quoting some fly by night financial advisor, “This is the book I’d like to force feed physicians and other ‘white coats’” by that would be me so I will refrain from dissing the endorsements that are made on the inside flyleaf or back cover, but they are impressive, in my humble opinion.

The foreword is by William Bernstein, MD, author of “The Four Pillars of Investing” -the book I have most recommended to clients for over ten years. This book by Jim Dahle ignites my enthusiasm to recommend it any potential high-income professional to read at the beginning of their career just as much as I have done with Bernstein’s book. And then the author goes on to thank Rick Ferri, my favorite financial author, for providing him advice and approval. I knew it was a must read even before I started.

If you’re not a medical student or physician in your residency, you can lightly pass over a couple of the 16 chapters, but don’t be too blasé about the topics of student loans, getting into medical school or budgeting. These topics are close enough for many would-be professionals who have to borrow for their education that it makes these chapters worth reading. The chapters are short, so a 4-hour read for the whole book is a possibility.

Why do you think this physician spent the time and money to write this book? It’s self-published after all, so you know he put his own money on the line. I’ll tell you why, in my opinion. Doctor Dahle observed the racket that likes to separate the hard earned money from the postgraduate school trained investor/saver by appealing to their ego and fear or greed.

Most purveyors of financial products and many money managers use techniques honed after decades of trial and error to capture their prey. They know about human behavior and use it to their advantage, and the author lays that out in clear detail. Now, don’t get me wrong. This ER doc doesn’t lambast all of these so called financial advisors, only the most outrageous. His examples, and stories from other doctors, detail experiences and how to live the good life without falling victim to high priced products and services that make more money for the sellers than the buyers.

Spoiler alert. Early in the book Dahle tells his readers to “live beneath your means”. He goes on to outline how graduate level living and paying off debt and saving early for significant goals are the keys to success. I couldn’t have said it better or clearer. The charts and graphs that are included do a good job of reinforcing the understanding of key concepts.

This book not only covers investing but taxes, loans, getting into medical school, estate planning and asset protection. I will be buying copies of this book in bulk, not only to save money, but also to save my clients money and you can quote me on that, too.

It’s a short read as personal finance books go and contains notes and links to his blog and works by others on germane topics at the end of each chapter. I’m going to highlight several well-written blogs of his when I pass out this book.

Thank you, Doctor Dahle.