White Coat Investor Podcast

Backdoor Roth IRAs and Why You Should Be Funding Them. If you have no idea what a Backdoor Roth IRA is, listen to this podcast. Seriously. You need to know what it is. Most physicians should be using a personal and spousal Backdoor Roth IRA.  Not only does this provide an additional $5,500 each ($6,500 each if you and your spouse are over 50) of tax-protected and (in most states) asset protected space, but it allows for more tax diversification in retirement. That allows you to determine your own tax rate as a retiree by deciding how much to take from tax-deferred accounts and how much from Roth accounts. No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written