Achieving Financial Freedom in Dentistry – Dr. David Phelps: Ep #479

Today I want to share a critical—yet often overlooked—inflection point in career planning that impacts not just dentists, but professionals across various industries. It’s about understanding how much capital you truly need to alleviate pressure and gain financial freedom. Whether you’re at the start, middle, or end of your career, the challenge lies in determining this capital base, as well as knowing how to make your money work for you. In this episode, I explain why passive income is essential and how to break free from average results to embrace true financial independence.

Listen in as we explore practical strategies for navigating the financial landscape, avoiding herd mentalities, and taking charge of your financial destiny. You’ll learn how to shatter conventional norms, build a sustainable financial future, and pave the way for greater freedom and peace of mind in your professional journey.

Minute Markers:

3:09 – The importance of knowing how much is enough.
6:00 – How to make your money work for you.
9:00 – How to create true passive income.
12:55 – Why I decided to sell my practice.
18:00 – How to get out of the herd mentality.
21:13 – The benefit of becoming your own financial advocate.

Featured on the Show:

Freedom Founders

#passiveincome #investing #practicesales #financialfreedom #family #dentalpractice

Watch full length Interviews on video!

Watch full length interviews on David’s YouTube channel by going to www.DentistFreedomBlueprint.com/YouTube. Don’t forget to subscribe to David’s YouTube Channel for more content on maximizing your business, wealth, and creating a financial blueprint to reach your Freedom faster!

Join the tribe of dentists ditching Wall Street. Get more insights, resources and inspiration for creating asset based income and Freedom. Follow us on Facebook here.

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. Schedule a Call with My Team:

If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least 1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.

2. Become a Full-Cycle Investor:

There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they’re about to learn the hard way what others have gained through “expensive” experience. I’m offering a free report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here.

3. Get Your Free Retirement Scorecard:

Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.

Want to know more about David and schedule him as a speaker or podcast guest? Go to doctorphelps.com to book David now.

Power Concepts:

You need to make a decision that you aren’t going to be like everyone else and follow a herd mentality because with a herd mentality, you get average results. – Dr. David Phelps

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Making your money work for you is one of the most important things you can do if you want to be free and have that peace of mind to make the choices you want to make. – Dr. David Phelps