Beliefs around having a business and making money can be a bit muddled when it comes to selling, doing taxes, and managing investments. John Groom joins the show to share his expertise in these areas and how important it is not to make the same mistakes most dentists have a tendency of making. John discusses the problems with your 401k plan and why it’s crucial to take charge of your money management.
Due to added stress, lack of time, and confusion around taxes, dentists are making poor decisions. But just because everyone else is doing something doesn’t mean that it is the best thing for you and your business. John talks about the importance of listening to someone who knows what they are doing, how to avoid common micromanagement mistakes, and more.
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- 1:44 – Introducing John and his background in business and real estate.
- 4:10 – The problem with dentists and the business issues we have.
- 9:00 – What goes wrong in dental school and what you should’ve learned.
- 11:18 – Debunking problematic retirement plan thinking.
- 13:38 – The fallacies of conservation easements.
- 17:56 – The deal with captive insurance.
- 21:35 – Why it’s important to step back and allow time to think and plan.
- 26:00 – The dentist’s prayer.
- 28:04 – Understanding cost segregation and the benefits and issues within the new tax laws.
- 33:30 – Why more dentists need to go the ‘c-student’ route.
Featured on the Show:
- John Groom: Website | Email
- Dr. Mike Abernathy
- John D. Rockefeller
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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