EP2: Financial Independence Retiring Early for Doctors (with The Loonie Doctor)
ฝัง
- เผยแพร่เมื่อ 29 มิ.ย. 2024
- Dr. Mark Soth (from The Loonie Doctor Blog) semi-retired in his 40s from working as an ICU doctor to focus on his blog. In this interview, I chat with him about his decision to step back from clinical practice and how he planned for this financially. We discuss his portfolio allocation, investments, and how he and his wife achieved financial independence together. He also gave me some great marriage advice.
Mark and I have been co-lecturing for a few years and our pre-lecture conversations have always been very valuable as we talk openly about our investments and investment strategies. I hope you find our conversation as valuable as I do!
𝗧𝗼𝗽𝗶𝗰𝘀 𝗰𝗼𝘃𝗲𝗿𝗲𝗱:
0:00 - Intro
1:07 - What Dr. Soth is doing in retirement now
5:38 - Dr. Soth's Career as an ICU Doctor
9:32 - Getting Married & Having Kids
13:14 - Starting The Loonie Doctor Blog on the Side
27:09 - When did you become Financially Independent?
32:24 - Talking to wife about retiring early
34:51 - Deep Dive into Dr. Soth's Tax-Efficient Investment Portfolio
39:36 - Asset Allocation of Dr. Soth's Portfolio
42:49 - Bonds - why don't you have them?
46:31 - Preparation before retirement
51:47 - Whole Life Insurance in Retirement Planning
56:32 - IPPs: Was that in your retirement planning?
58:58 - Best/Worst Investment? Marriage Advice?
𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀:
1) Robocorp SWAT Portfolio Builder: www.looniedoctor.ca/robocorp-...
2) The Decumulator (retirement drawdown calculator): www.looniedoctor.ca/retiremen...
3) Give Your Capital to Receive Happiness: www.looniedoctor.ca/2022/11/1...
4) How to Donate to Charity Tax Efficiently: www.looniedoctor.ca/2022/12/1...
𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿:
This content is for education and entertainment purposes only. Any information, views, and opinions expressed are solely those of the presenter and are not a substitute for financial advice specific to your personal situation. Dr. Stephanie Zhou has no personal conflicts of interest to disclose and was not paid by any parties to conduct this interview of Dr. Mark Soth. Her channel (Breaking Bad Debt) is monetized and may feature ads due to a change in TH-cam policy to include ads regardless of whether monetization is turned on or not.
Dr. Mark Soth's blog (looniedoctor.ca) receives a small commission from Qtrade Direct Investing from accounts opened using the affiliate link on the site. The commission goes towards offsetting the costs of running his blog.
#financialindependenceretireearly #personalfinance #retireearly
𝗧𝗼𝗽𝗶𝗰𝘀 𝗰𝗼𝘃𝗲𝗿𝗲𝗱:
0:00 - Intro
1:07 - What Dr. Soth is doing in retirement now
5:38 - Dr. Soth's Career as an ICU Doctor
9:32 - Getting Married & Having Kids
13:14 - Starting The Loonie Doctor Blog on the Side
27:09 - When did you become Financially Independent?
32:24 - Talking to wife about retiring early
34:51 - Deep Dive into Dr. Soth's Tax-Efficient Investment Portfolio
39:36 - Asset Allocation of Dr. Soth's Portfolio
42:49 - Bonds - why don't you have them?
46:31 - Preparation before retirement
51:47 - Whole Life Insurance in Retirement Planning
56:32 - IPPs: Was that in your retirement planning?
58:58 - Best/Worst Investment? Marriage Advice?
A lot of wisdom for even non doctors. You are a great interviewer, never interrupt, and ask clear questions
Thank you for the support!
Well done Docs. What a great and informational talk. Do you ever plan to have these as a podcast? I’d love to listen to future videos while driving.
Thanks for your support! I'll look into doing more TH-cam interviews as I'm not as familiar with podcasting software... The one other interview I did was about doing a MD/MBA with Dr. Ken Bernard: th-cam.com/video/_GxZfTgIKdI/w-d-xo.html
Thanks loved that one too. Keep up the great work, love your content across all the platforms you’re utilizing.
Thank you for this interview. Didnt really understand the scheme from 50:30 about deducting interest - is it about HELOC deduction?
Hey, I'm not sure if Mark's wife was investing the mortgage itself or the HELOC component like in the Smith Maneuvre, but when you use debt to invest the interest on the debt is deductible against the income generated by the investment purchased with that debt. The most common way this is seen is through buying a rental property, you can deduct the mortgage interest against the rental income but it seems like in his wife's case, she is putting it in dividend paying stocks for example. For more info: turbotax.intuit.ca/tips/is-interest-deductible-5459
@@BreakingBadDebt Thank you, really useful
Very nice and informative interview. If possible please interview Dr(s) Healey as well. Thanks
Hi Andy, thanks for the feedback! Though I've never interviewed them, I have given lectures with them over the past 4 years. We just did a lecture together this morning. Past recordings can be found here:
1) Intro to Personal Finance: th-cam.com/video/UAQU0O8WgtY/w-d-xo.html
2) Teaching Kids about Money: th-cam.com/video/sRI_SLnW0C0/w-d-xo.html
3) Physicians Financial Wellness Conference: th-cam.com/video/y0qqQOgJaLA/w-d-xo.html
Hi Dr Steph - what is the easiest way to discuss getting on your show? Thank you!
Hey, I don't really have a show, my TH-cam channel is just a compilation of guest lecturing or interviews I have done. You can reach out to me in the About section of my channel.
Can you explain what an “age-grow/” is? He mentions it during the section how he would have simplified his portfolio
He was referring to HGRO (Horizons Growth ETF), which is an asset allocation ETF