WCI #356: Navigating The Struggle To Financially Support Parents And Still Save The Way You Want To

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. This is White Coat Investor podcast number 356. As a White coat you have valuable knowledge. Various companies want that knowledge and they're willing to pay you for it. That's why we put together a list of recommendations for companies that pay you to take surveys. If you're looking for a profitable side gig for not too much effort, getting paid for surveys could be the perfect solution for you. You can make extra money, start a Solo 401 and use your medical knowledge to impact new products. One of the WCI columnists makes an extra $30,000 a year just doing these surveys. Sign up today and use a fraction of your downtime to make extra cash. Go to whitecoatinvestor.com mdsurveys you can do this and the White Coat Investor can help. Welcome back to the podcast. By the time you hear this, I think we're at the end of February, but as I'm recording it just before Christmas we just passed 20 million all time podcast downloads. So thank you to all of you for being loyal listeners and of course the new ones too. Okay, you should know that we have launched the new CFE 24 course. Okay. That is the online course that contains the content from WCICON last month and we're having a sale because of it. All of our courses are 100%, not 100%, $100 off until March 8. So get the latest in physician wellness and financial literacy in the new continuing financial education online course. You can watch my two keynotes on the Unsung benefits of Index Investing and Advanced Estate planning and Paula pants on how to re engage and remotivate when burned out. Plus presentations from 30 plus other experts from WCICON 24. Whether you're interested in boosting your personal wellness, fine tuning your financial plan, investigating tax reduction strategy, living a more intentional life, or planning for retirement, this CME eligible course has something for everyone. Go to www.wcicourses.com and take $100 off until March 8th. So if you're hearing this on the day it drops, that gives you just over a week. All right, we're doing a lot of your questions today, so let's get into them. First one comes in by email. I'm a tech worker and through my employer have access to a 401 plan which allows me to perform a mega backdoor Roth. Unfortunately, the after tax contributions are payroll deductions and my base pay compensation is such that it takes many, many pay cycles to contribute my target amount. While I live off RSU vestings, it is likely in the not too distant future I will leave this employer by choice or layoff and my next employer may not offer a 401 with the same feature. Is there any downside to scaling back my tax withholding with my employer to leave more after tax funds for contribution towards my mega backdoor Roth? This would allow me to reach my target sooner and I can make estimated tax payments to ensure I reach the tax withholding safe harbor. It's not all gloom and doom as I could land with another employer with a great 401 where I could utilize the $66,000 limit. It's more this year, obviously twice in a single tax year while observing the $22,000 voluntary contribution limit. Hopefully this question isn't too specific. I enjoy the podcast, really need to give my doc a copy of your book and she has a whole life insurance plan. Okay, yeah, that's fine. The other thing you could do, you could talk to HR and ask can I fund this thing with just a check? That's what I do with my make a backdoor Roth. Each year I fund it in January. I write a check for the $66,000 or $69,000 or whatever and put it into the plan that way in one big lump sum. So so you may not need to mess with the tax withholdings to do this. You might be able to just walk in there and fund it. But talk to hr, see if that's an option. If not, this would work fine, right? The IRS does not care exactly how those taxes are paid. If you want to do quarterly estimated payments, that's perfectly fine. They don't have a problem with that. I guess everybody could withhold nothing from their employer as long as they're making quarterly estimated payments, that should be okay. The employers, of course, are required to withhold a certain amount and that's their rule to follow. Not your rule to follow. But yeah, this would work fine. It's fine. Keep in mind, when you go to a new company, you're often not able to use the 401k for the first year though, so it's generally a better idea to max out the one from the employer you're leaving if at all possible when you're making changes in mid year. Okay, the next question, also from the email box, says I like your explanation of doing traditional contributions to 401k or 403 and Roth if one is a super saver. I know you don't know future tax brackets, but is there a quantifiable net worth annual income used to label one as a super saver? Thus one who should consider Roth over traditional if one is investing primarily in non cash producing investments or where cash flow is not the primary point such as AN S&P 500 Index Fund or Total US Stock Market Fund over cash flow in real estate. If one doesn't plan on spending a ton of it but is a super index fund investor saver, would this change things? Maybe I'm overthinking this and all that needs to be done is consider how much annual cash flow you plan on having in retirement, whether from real estate or selling down index fund holdings. What actually happens inside a 401 or 403 if you change your type of contribution that is a change from traditional Roth or change actual investments? All right, there's a lot wrapped up in that question. The main question you're asking is how do I know if I'm an exception to the rule of thumb that in your peak earnings years you should make tax deferred aka traditional 401 contributions? It's basically a matter of comparing tax rates. It's all about your tax rate now versus your tax rate when you pull money out later. It's entirely possible that even though you're in the 22% or 24% bracket or higher that when you pull money out in retirement you'll be in an even higher bracket. We're not talking about the brackets changing up, although that would have an effect. We're talking about you just having more income later. So if you're saving enough money now that your taxable income later is actually going to be higher, then you should do Roth contributions now. You should do Roth conversions when given the chance. That's not a lot of people. It's a small number of people. Maybe they're concentrated a bit more in the white coat investor audience, but it's still not the majority of white coat investors. So no, there is no rule of thumb. You got to run the numbers and you got to do it with assumptions that you don't know if they're right or not right. You don't know exactly how long you're going to work. You don't know exactly what your turns are going to be over time, how big that 401k or 403 is going to be. You don't even know what the RMD age is going to be when you get there, it could change again. So it's basically a general sense, right? If you're building a real estate empire, that's going to kick off all kinds of cash flow right? Now maybe it's tax sheltered, but later maybe not. You'll have used up all your depreciation. That's going to push you into a higher bracket. You might have a big pension coming if you're in the military or something like that, that would get you into a higher tax bracket. Or maybe you just have millions and millions of dollars that are going to fill up those lower brackets from the income on them. Okay, the other question is, what actually happens inside a 401 or 403 if you change your type of contribution? Well, there's sub accounts in there, right? So my 401@ White Coat Investor has three sub accounts. One is tax deferred, one is Roth, and one is after tax, right? And so when I'm doing a mega backdoor Roth contribution, it goes into the after tax bucket and then I convert it into the Roth bucket. You could convert, if your plan allows it, from a tax deferred bucket into a Roth bucket, but when you change your type of contribution, it basically starts going into this other sub account. It's no big deal. You'll see it right there on the website. You'll have so much money in tax deferred, so much money in Roth, no big deal. And obviously if you change your actual investments, those will be reflected there as well. But that really has little to do with the accounts, right? You can put a total stock market index fund in the tax deferred side, you can put it in the tax free side. You can put any investment in any account for the most part. Okay, next question's from Reddit. How do I know if my CPA is good? For context, I'm a new attending here. I would say that I sit squarely in the bottom trough of the Dunning Kruger curve in regard to my financial knowledge for the past four years. I go on TurboTax and I fill out my own tax every year. I see their estimate, which is usually for me to pay $1,000 to $4,000 back, which I do intentionally when adjusting my withholding. And I get scared that I'm messing up and then call my cpa. He has consistently been able to cut the money I have to pay back by 25 to 50%. So I've never found a reason to think I can do this on my own. He also charges me $150 to file my taxes. And he is a good guy. I really can't complain. He's also a kind of family friend, although he has been nothing but professional this year. However, I'm a new attending, so my income quadrupled in August. I also have a new kid and a 1099 job that made me about $60,000 this year. So things are a little more complicated but not too crazy, I'm sure. So how do I know that my CPA is doing a good job? How do I know if he is missing things or if he is making mistakes? My TurboTax estimates have consistently been worse than what he gets me. I thought of actually asking another CPA to do my taxes and comparing their estimates before filing. Is that smart? Am I overthinking this? All right, well, the first thing to understand is what do you miss? What is he claiming that you're not claiming when you do your own taxes by TurboTax, what is that deduction? Because most people's tax situation is the same from one year to another. This year you're going to have some big changes, granted, but the year after that, it's probably pretty similar to next year. And so figure out what you're missing. It's not magic box. What's he doing differently than what TurboTax is doing? Dive into the forms and look there and maybe you can start doing whatever it is that he's doing that you're not. But here's the deal. $150 is like dirt cheap for tax prep, right? That's basically free. So if you feel like this person is doing a great job for you and it only costs you $150 a month, just keep using them. It seems like you feel like you have to do your own taxes or something. You don't, right? I don't even do my taxes anymore. I haven't done them for the last two or three years. I've been hiring them out. Just got too complicated for me. Number one, it was good to have some time back. But as I'm going around looking at what tax preparation costs, $150 is nothing for tax prep. I paid dramatically more than that for tax preparation. I'm in the process of shopping actually for a new cpa. I got fired by my CPA or by my accountant and basically just said, your return's too complicated for me and even though I make good money off it, you'd be better served going somewhere else. So that's one way to know if your tax preparer says you need somebody else that has expertise in some different stuff. I think it was the trust return that kind of pushed her over the edge. That's one way to know. But other ways to know if your CPA isn't doing a good job? Well, there's not a lot. When you change, they'll usually go back and look at your last return and tell you what they think of the last tax preparer. I had that happen as I was looking for a new tax preparer. And it was nice to hear that he thought that she'd been doing a good job. Right. So that's always good to hear. You know, he had a few suggestions that I might save some taxes on, but they were changes in how I live my tax life, how I live my financial life, not how I fill out the forms. Those weren't the suggestions he had. So that's a good sign. If they look at your forms, they're like, dude, they totally screwed up your forms. Then that's a problem. Yeah, you could go get a second opinion, but you're going to pay for the second opinion. And at a certain point you got to ask yourself, how much is that? At any rate, if you need some help with tax preparation, tax strategizing in particular, we've got a list on a recommended page for that whitecoatinvestor.com recommended and you can check some of those folks out. But it sounds to me like you're overthinking this. If you don't really love preparing your own taxes and don't want to learn more about them, you know, you've got somebody that seems to be doing a pretty good job for you and isn't charging you much. So I suggest you use them. Our next question also comes off Reddit. It's titled Only One Year of BackDoor Roth Conversion. We sold our rental in late 2022, which pushed us over the income limits for Roth IRAs. It wasn't planned, so we contributed to our new traditional IRAs 2022 contributions in March of 2023 and converted to Roth IRA that same month. We each filled out an 8606 for the traditional IRAs. 2022. This year we'll be under the married Magi income limits. I'd like to switch back to Roth IRA contributions for 2023. I reviewed the WCI articles, but the example is for doing a back to back backdoor Roth conversion. How do I fill out the 8,606 for 2023? If we decide to go all Roth IRA for 2023. You know, I find it fascinating that people find the 8606 to be this terrible form to fill out compared to other tax forms. This is not that difficult, right? I mean, let's walk through the form today. Right? The first question. Enter your non deductible contributions to traditional IRAs for 2023, including those made for 2023, from January 1, 2024 through April 15, 2024. Okay, so that's just how much did you contribute? Right. That was not deductible to your traditional IRA in that year. If you could take the deduction, that's fine. You don't put it in there. If you can't take the deduction, then it goes on this line. Pretty straightforward question, though. I'm not sure if anybody gets confused about that. The next question, which is line two, is the one that sometimes confuses people. Enter your total basis in traditional IRAs, and you can often get that from 8,606 from the prior year. But basically, basis is money that's non deductible. It's after tax money that was in there before this tax year started. And then you add those two lines together. It asks if you take a distribution from traditional traditional sep, or traditional simple IRAs, or make a Roth conversion. And if you did, you got to go to line four. If you don't, you get to skip a whole bunch of questions and go all the way down to line 14. Most of you doing Roth IRAs for the year, of course, or backdoor Roth IRAs have done a conversion. So you got to keep going. Four, enter those contributions on line one that were made after the end of the calendar year. Easy. Next, line five is just a math problem. Line six is where the pro rata rule comes in, right? They're asking you what you've got in your traditional IRAs, SEP IRAs, simple IRAs, rollover IRAs, whatever on line 6, whatever's in there at the end of the year. 12, 31, that's the balance, and that's line 6. Line 7 is any distributions you took. Most people are putting zero on this line if they're just doing backdoor Roth IRAs. Line 8 is the amount you converted. So you add line 9 and 10 is just math. Line 11 is just math. Line 12 is just math. Line 13 is just math. I don't think you guys need help with the math on these things. Just follow the directions. It's all fourth grade math. And then line 14, of course, gives you your basis. So that's what would Go forward to line two next year if you had some basis. So your situation, it sounds like, is not particularly difficult. Basically you're saying you didn't have to do a backdoor Roth. Okay, well, everybody can do a backdoor Roth as long as you have the income for it. Even if you're below the income limits, you can still do your Roth IRA contribution through the back door. If your income's low enough and you don't have another 401k, those contributions into the traditional IRA are deductible. It's fine. It works out the same either way. You get the deduction and then you pay tax on the conversion, or you don't get the deduction and you don't pay tax on the conversion. It works out exactly the same. So that part's not hard. So I'm not seeing where the difficulty is. If you're still having trouble with this, shoot me an email and I'll help walk you through line by line. But mostly you just flip, follow the form. Right? The only thing that really screws people up is they don't understand what basis is on line two. So most of the mistakes I see on A8606 is getting the basis wrong. If you want to have your 8606 be really clean, make the contribution during the calendar year, do the conversion as soon as you can in that calendar year, and your 8606 is pretty darn easy. I don't know why everybody wants to do this the hard way and, and start making contributions after the first of the year. Or worse, make a contribution in one calendar year and the conversion in the next calendar year, or not actually go through the backdoor process. Stop doing these the hard way. They're not that hard to do. 14 years now. I've done the backdoor Roth IRA each year. I've never screwed it up. It's not that hard. Okay, make your contribution, do the conversion, do it all in the calendar year, and you won't run into all these problems people have with their 8606 forms. Okay, another question, this one coming from Reddit. It's about a 403 rollover. I have a Roth 403 from a past employer. Am I able to roll that over into my Roth IRA and also contribute to a backdoor Roth IRA in the same year? Easy question. The answer is yes. A lot of people don't understand what a contribution limit is. This is the amount you can contribute to into the plan, whether it's a 401k or whether it's an IRA, whatever. Any sort of rollovers into that plan do not count toward your contribution limit. Any conversions into that plan do not count toward your contribution limit. They are not contributions. That limit is just for contributions. So you could roll over $300,000 from a rollover IRA or from a $300,000 401 into a traditional IRA. That does not count towards your contribution. You could do $1 million Roth conversion. You still get your contribution into an IRA that year. Totally separate thing. All right, thanks, everybody for what you do. By the way, I know you are not tax preparers. I know you're not financial advisors. Most of you are just docs trying to make your way in this crazy financial world. And you spend 98% of your time helping people, you know, out there, seeing patients, doing surgeries, whatever it is that you do. So thanks for that. I love the fact that you're doing that instead of financial stuff. Right? You still got to pay some attention to your finances. But just because you don't know how to do an 8606 or you have questions about what an IRA contribution is, that's a good thing because you're spending your life and your time doing stuff on stuff that probably matters more. So if I sound like I don't want to answer more 8,000, 606 questions, I've been answering them for many, many years. I will continue to answer them for many, many years. And I just like serving you guys because of what you've chosen to do with your lives. But a lot of you are making your financial lives more complicated than they need to be. And you should simplify when you're able to do so. Okay, another question off Reddit, by the way, if you haven't checked out our subreddit, it is one of the fastest growing parts of wci. I know the folks on the forum, they think they're the only WCI community out there. They're actually one of the smallest ones. We've got four communities. We've got the Facebook group. It's got 100,000 people in it. The subreddit's got over half of that many in it. We've got the few financially empowered women. That's a group that by the time you hear this is probably at 2,000 or so. And then we've got the forum, which we never take people out of the forum, even if they stop posting there. But that's, you know, dramatically fewer people than we have on the subreddit. So check out those communities The Reddit one in particular. Younger docs, students, residents, they love the Reddit so it's, you know, white coat investors is where you find it. Or R whitecoatinvestors is where you find our community on Reddit. Okay, this question sole proprietorship and solo 401k I am a hospital based employee with W2 and have maxed my 403B employee contribution. I make a small supplemental salary from consulting about $10,000 for 2023 with 10,000 DOL 1099s. This may grow in the future. Then there's a series of questions. The first one is do I have to file any paperwork to become a sole proprietor? I currently hold the consulting fees in a separate bank account. Do I have to file for an EIN in the future? Do you have to have an EIN to be a sole proprietor? No. Do you have to file any paperwork? No. If you get a 1099 you will fill out schedule C on your taxes. You are a sole proprietor. There is nothing else you have to do to be a sole proprietor. Now, in some businesses you have to register with your state or your county or your city or whatever and go get a business license. But that'd be it, right? That sort of a thing. An ein, however, is useful. It helps you to separate your financial life, your personal one from your business one. So I do recommend an Employer Identification Number or EIN. It literally takes 30 seconds and it's free to get an EIN. So I recommend you get that and you use that number when you're giving paperwork to companies you contract with to pay you as a 1099 or when you're opening bank accounts or those sorts of things. I would use an ein. You do not have to. The only thing you have to use an EIN for is when you open a solo 401k. As far as I know, they always require an EIN for your business, so you probably want to do that. So you might as well go get the EIN. Okay, the second question is it worth creating a solo 401 with mega backdoor option or just stick to a free Vanguard Solo 401? I don't think consulting fees will ever hit six figures. Well, the nice thing about getting a customized Solo 1401 plan instead of one of the cookie cutter ones off the shelf at Vanguard or Fidelity or Schwab is that you can get it set up such that you can make after tax contributions and in plan conversions, AKA the Mega Backdoor Roth conversion option. This is allowed in our 401 here at WCI. That's basically my entire contribution. Every year I do mega backdoor Roth contributions. Do I think it's worth it? Yeah, it's certainly worth it. But I'm also making more at WCI than you are in this consulting gig. But here's the difference and you can decide if it's worth it for you or not. If you just get a standard off the shelf cookie cutter plan and you make $10,000, you're going to be able to put $2,000 as a tax deferred contribution into that Solo 401. If you make $10,000 in net income from this 1099 gig, that's net of expenses, including the employer, half of the payroll taxes, not net of your personal taxes on it. You could put $10,000 in there as an after tax contribution, then convert it to a Roth So you'd get $8,000 more in there each year. It would be in Roth instead of tax deferred, but it would be five times as much money. Is that worth paying somebody, you know, $500 to set this thing up and $200 a year to maintain it? Only you can decide. Certainly if you start making more money, I think it's worth it. If you're making 40 or $50,000, I definitely think it's worth it at 10,000. Maybe I'll just take that $10,000 and spend it on a really nice vacation each year. It's not the end of the world to invest in a taxable account either. Right? You just want to minimize the hassle in your Life. Invest that $10,000 each year in taxable instead of trying to get it into another retirement account. All right, the next question. If I do a mega backdoor Roth, do I roll it over into my existing personal Roth IRA or a new separate Roth ira? Well, most of the time it actually stays in the 401, just into the Roth sub account. A plan can allow you to do an in service withdrawal and bring it into your Roth ira. If you're going to do that, you can just use your regular one. You don't need a new one. But most of the time you keep it in the plan actually, and that'll maybe give you a little more asset protection in your state. Although Solo 401s tend to have about the same asset protection as Roth IRAs. All right, fourth part. The maximum contribution can only be 20%. So only $2,000 to the Solo 401. That's right. If you're doing tax deferred contributions, you can do more if they're after tax contributions. Or you could do a combination of the two. You could do 2000 in pre tax and 8000 in after tax. You could do that. How do I pay taxes on the remaining $8,000 of income of the sole proprietorship? Do I file taxes for it separately or an added form? Well, I mean, you could pay quarterly estimated payments on that, I guess. But what most people would do if they're only making ten grand there is they would just have a little more withheld from their W2 job. So in your case, you're going to have $8,000 more in taxable income if you put $2,000 into a tax deferred solo 401. What's the tax on that going to be? I don't know, maybe $3,000. Divide that by 12. Have that much more withheld by your employer each month. But for that small of an account, I don't know that I'd even worry about it. Certainly if you get to the point where you're having to write big checks come April and you're getting penalties and interest and that sort of thing, maybe you want to go through the trouble to actually send in quarterly estimated payments or change your withholding. But a lot of people with that low of a side gig income just settle it all up with the IRS come next April. Okay, our quote of the day today comes from Morgan Housel said, good investing is about earning pretty good returns that you can stick with for a long period of time. That's when compounding runs wild. And that is the truth. Right. Time in the market matters more than timing the market. Okay, here's a question off Instagram. This is great. Hello Doc. Thanks for everything you do for us doctors. I wanted to give an update and also ask a question. We recently got out of student loan debt. $197,000. Congratulations. After I finished my chief residency in my first year of fellowship. Wow, you paid that all off in your training. I'm impressed. Should have brought you on the Milestones podcast. Big blessing for us. Now on to the question. Do you have any advice for those of us young folks caught in an early sandwich generation situation? Both my husband and I come from Asian immigrant backgrounds. Unfortunately, my in laws are financially illiterate and retired without any plans other than relying on Social Security and expecting their children. In reality, just their eldest son to care for them. I think the eldest son is this doc's husband. While my husband and I make decent money, we give my in laws $3,400 a month, leaving us with not as much to save and invest. And while they do help us by watching our daughter, I recently realized that we are crippling our financial future. Unfortunately, due to cultural obligations, it's not as simple as don't give them any money. Right now I'm still in fellowship so things will get better once I graduate Pulmonary Critical Care, but I'm at a loss for how to handle it. Any advice you give would be greatly appreciated. Also, for some context, the reason we were able to pay off my loan so early was because my husband used to have a much higher paying job and I worked for a year as a chief and basically got paid as a junior attendee. Going back to fellowship, my pay significantly dropped and my husband took a pay cut. For some final context, the $3,000 plus we're giving has been going on for four years, expected to continue for at least three and most likely indefinitely. For as long as my husband has worked, he's given a minimum of $1,000 a month to his parents. And with that number always going up, never down, a lot of Korean American physicians, dentists, are expected to give their parents money as a payment for all the sacrifice the parents made for immigrating to the States. I just recently realized I'm giving away my early investment years and it cost me a ton of anxiety. Wow, there's a lot going on here. Let's talk about some of it. First of all, the most important relationship you have here is between you and your spouse, right? That has got to come first. More than the relationship between you and the in laws, more than the relationship between your spouse and his parents, you got to build that relationship and you guys have to be on the same page. Also, in general, when dealing with in laws, you guys decide what you're going to do together and the person whose parents they are is the one who presents it to them. So it doesn't seem to be coming from the other spouse that's now becoming the bad guy. So whatever you guys decide to do, it needs to be presented by your spouse, okay? I don't think it's realistic to tell you not to give anything to your in laws. I think you're probably right. You're indefinitely going to be helping them financially. And whether that is a check you send every month, whether you pay their expenses, whether they live in your house, whatever, you're going to be helping them. Unless you're just going to, you know, they do something terrible and you decide you're going to cut off contact with them and cast them to the curb. But Almost surely that's not what's going on here. And you're going to be, you know, spending some of your money to help them. So get used to it. I don't think it's going away. The only question here is how much and in what form it comes. And I think it's perfectly fine to sit down with them and say, hey, we don't have the income we had a year ago. We can't help you as much. Instead of paying 3,400, we're going to have to go back to 1,500amonth. And I'm sorry about that. We all have to tighten our belt a little bit, but we can only help you from a position of strength. That means we need to be able to have enough money to pay off our loans, to save for retirement, save for our kids college and do these other things. So figure out how much that amount is, sit down, have your spouse do the talking and tell them that they're getting a pay cut. Basically because you can't just give them all your money if you're not saving anything for retirement. You're basically, you're going to be the equivalent of house poor, right? Your in law poor because all your money went to your in laws. So you just got to have that conversation. And I get that some cultures are different, right? My culture's very different. Here it's much more. You go out of the house when you're 18, you're on your own and that's it. The good news is you don't have that obligation down the road to help your parents. But the bad thing is they probably don't help you as much as your parents helped you. So pluses and minuses to every culture, but it certainly has an effect on our finances, right? Financial planning is really about making sure your money goes toward what you value. It sounds to me like you value this relationship, you value these people. So some of your money is probably going to go there, but you've got to decide how much, right? It may be when you are a full attending, maybe your husband gets a higher income that you can go back and pay them $3,400 a month, maybe even more, and still be able to save 20% plus for retirement, still reach all your other financial goals. So I wouldn't say you got to stop giving them anything. But you definitely need to evaluate that amount year to year and maybe even month to month. And they need to understand that. And they'll probably understand a little bit better if you share a little more about your financial situation. You don't have to share everything, but when they understand that your pay went down by 75% or whatever it was, they're going to understand that their part of that is also going to be lower than it was. Hopefully that's helpful. As a white coat, you have valuable knowledge. Various companies want that knowledge and they're willing to pay you for it. That's why we've put together a list of recommendations for companies that pay you to take surveys. If you're looking for a profitable side gig for not too much effort, getting paid for surveys could be the perfect solution for you. You can make extra money, start a Solo 401 and use your medical knowledge to impact new products. One of the WCI columnists makes an extra $30,000 a year just doing these surveys. Sign up today and use a fraction of your downtime to make extra cash. Go to whitecoatinvestor.com mdsurveys you can do this and the white coat investor can help. Alright, we got something new coming out. It's our CFE 24 course. It's $100 off through March 8th. And this is the course we put together from WC Icon each year. But we're not just giving you a discount on this course, we have a discount on all our courses. You want to fire your financial advisor? You want to take the version of that with cme, you want to take the real estate course. All of these $100 off through March 8th. This is a big course sale for us. So if you've been waiting to get a good price on our online courses, now's the time to buy them. You don't have to take them now, right? They're evergreen and you can take them in a couple of months, but you can buy them now and get a great price. What's in that course? Well, you got my keynotes from the conference. One's on the unsung benefits of index fund investing, one's on the advanced estate planning Paula Pants keynotes in there, how to re engage and remotivate when burned out. There's presentations from 30 or more other experts in there as well. So whether you're interested in boosting your personal wellness, fine tuning your financial plan, investigating tax reduction strategies, living a more intentional life, or planning for retirement, this CME eligible course has something for everyone. And if you got an Apple device, you can stream this in the car just like you would a podcast. At any rate, if you're Interested, go to www.wcicourses.com Take $100 off till March 8th. Thanks. For those of you leaving us five star reviews that helped spread the word, here's one from greenmeadow51 said. Terrific. No hype resource. This podcast is great for commutes, but make sure you combine it with a fantastic WCI webpage. He's got concise, clear articles on nearly any question you have. This is one of the single best financial literacy sources I've found in years. Thanks for that kind review. Head up, shoulders back. You've got this and we can help. We'll see you next time on the White Coat Investor Podcast. The hosts of the White Coat Investor are not licensed accountants, attorneys, or financial advisors. This podcast is for your entertainment and information only. It should not be considered professional or personalized financial advice. You should consult the appropriate professional for specific advice relating to your situation.