Ep #197: Tim Brockman – Is a 401K Always the Best Financial Vehicle?

Tim Brockman is a financial planner with Consolidated Planning who works with dentists across the country to protect, grow, and exit their practices. A native of southwest Ohio and graduate of Xavier University in Cincinnati, Tim grew up fascinated by the business side of his father’s dental practice and began his career in financial services right after college. Over the years, he has developed a unique take on the best way to prepare for retirement.

In this episode, Tim shares how his philosophy and advice has changed throughout his career, as well as why we should all rethink the typical 401k approach. Listen in to hear his refreshing take on retirement, how he helps dentists prepare to leave their practices without relying on equity and capital, and the controversial asset he encourages clients to consider.

Join David for a special webinar on December 3rd, to learn how to get off the treadmill and achieve exponential growth through capital assets: https://www.freedomfounders.com/training

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 Minute Markers:

  • 3:38 – Why Tim decided to go into investment planning and advisement instead of going into dentistry.
  • 4:50 – How his career has evolved.
  • 6:48 – What made him move to South Carolina to go out on his own—and the big mistake he made during that process.
  • 11:18 – How his philosophy on helping clients has changed over the years.
  • 13:28 – The least efficient asset on most dentists’ balance sheets.
  • 17:30 – Four ways someone can change their retirement trajectory.
  • 21:40 – The potentially controversial asset Tim recommends his clients consider.
  • 25:29 – What to keep in mind when thinking about whole life insurance.
  • 29:05 – How the 2008 financial collapse impacted Tim’s clients.
  • 30:49 – The key perspective on money that we should all remember.
  • 32:08 – A look into Tim’s family life as he is about to bring a ninth child into his home.

Featured on the Show:

Join David for a special webinar on December 3rd, to learn how to get off the treadmill and achieve exponential growth through capital assets: https://www.freedomfounders.com/training

 

P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think):

1. Grab the first 3 chapters of my latest book: “From High Income To High Net Worth – For Dentists.” The Ultimate guide for anyone who desires to build cash flow and net worth through real estate investment without ever meeting a tenant or fixing a toilet. Visit www.freedomfounders.com/free-book-chapters and start reading.

2. Become An Insider: If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, Freedom Insider is your entrance ramp onto the fast track! Visit www.freedomfounders.com/insider and click the big orange “Become An Insider” button!

3. Apply To Visit The Mastermind: If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit this link to apply for a seat. www.freedomfounders.com/step-1

4. Want to Move to the Front of the Line? Fast Access Insider Group: If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call 888-548-5855 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access Insider Group – we’ll set up a time to talk, find out about your goals, and see if there is a fit.

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