Welcome to drgohhk interview series #1, I am starting this series to interview physicians around the world who inspire me to work harder and smarter towards financial independence.
Today guest is Dr. James Dahle from The White Coat Investor. Dr. Dahle was the first blogger I knew via Twitter account when I started this blog in May 2020. He is very generous in sharing his life experience and investing stories with me. I was honored as well because he did answer my PM via twitter even I was just starting to write my first post in this blog.
For physicians who are still struggling to achieve financial independence and find a balance in daily life, Dr. Dahle might be the best person to turn to to get some advice.
He started The White Coat Investor back in May 2011 and the site has grown to be one of the most popular blog for physicians from North America and the rest of the world to get their financial advice.
Ok, now let us get to know the author behind this website better,
1) Can you introduce yourself and your background/ education/career?
I am a husband, father, and adventurer who also practices emergency medicine. I grew up in Alaska, was educated in Utah, trained in Arizona, and then practiced medicine on four continents in the military before settling down into a private practice in a community ED in Utah.
2) Why do you decide to start The White Coat Investor and the story behind your blog?
 I started The White Coat Investor in an effort to help doctors achieve the financial literacy and discipline they were lacking. This stuff simply was not being taught in medical school or residency and the results were catastrophic. Despite a high income, many doctors were not even paying off their student loans, much less building real wealth.
3) Can you tell us about your investment strategy? And what is the average return so far?
I primarily invest in a static asset allocation of low-cost, broadly diversified index mutual funds rebalanced periodically. I have a small portion of the portfolio invested into private real estate funds and syndications. I generally achieve market returns with that strategy. Peaking at my spreadsheet, as of right now my annualized return over the last 16 years is 10.25%. My worst year was 2008 with a return of -32% and my best year was 2009 with a return of 34%
4) What is your personality? Do you think your personality has shaped the way you are investing right now?
While I find investing interesting, it is not the most interesting thing in my life. I prefer a strategy that allows me to not look at my investments for months at a time without lying awake at night worrying about them. For instance, I’m heading out on a wilderness trip for the next two weeks and know my money will take care of itself during that time period.
5) Can you describe your daily routine? I have seen so many physicians around me burn out and having difficulty to juggle between work and family, how do you manage yours?Â
Some days I go into the ED early to see patients during the day. Most days I do a few hours of work on The White Coat Investor. I try to exercise and spend time with my family each day. I probably go on 12-20 weeks of vacation a year. There isn’t really a daily routine. Like most docs, balance is a challenge.
6) Can you recommend three most important posts you think are the most relevant posts for physicians to read so that they can manage their finances better?
The X Factor, You need an investing plan, and 150 portfolios.
7) Are you going after FIRE? Looking at how active you are, do you think you want to retire one day?
 I am financially independent but am still working two jobs, so I guess not. Define retirement and I’ll tell you if that sounds fun. In a lot of ways, I subscribe to Seth Godin’s philosophy that I want to create a life I don’t need to retire or take vacation from. I find at least some work to be a meaningful part of my life.
8) Your effort of giving away WCI scholarship to deserving students has inspired me to do so one day in Malaysia, tell us more about WCI scholarship.
 I think this is the sixth year of the WCI scholarship. We give away tens of thousands of dollars in cash and prizes to medical and dental students each year to directly reduce their debt levels. It’s a great way to give back to a community that has given us so much.
If you like to know more about Dr. James Dahle website and books, kindly visit his site HERE.
