The White Coat Investor: A Doctor's Guide to Personal Finance and Investing (The White Coat Investor Series)

by James M. Dahle

Always purchase from an independent agent who can sell you a policy from many different companies. Ask if there are any discounts available on the policies presented. Sometimes a discount available through a medical association can decrease premiums by up to 30%. Residents should purchase cost of living riders, future purchase option riders, and residual disability riders. The

Numerous studies show that very few actively managed mutual fund managers can outperform an index fund when expenses are taken into account, and those few who will outperform cannot be identified in advance.

An advisor provides a different value to every client. If the value is greater than the fee, then the relationship will persist. If lower, then the relationship should be ended by the client. Only you can decide how much value an advisor is providing for you.

Increase your automobile and homeowner (or renter) insurance policy liability limits to several hundred thousand dollars. Then buy an “umbrella” policy on top of it.

If you are married and your state allows for “tenants by the entirety,” be sure to use it. It is free and easy and has the potential to save you hundreds of thousands of dollars.