Current Income vs. Future Wealth

by Dr David Phelps

by Dr David Phelps


hen I was young and just getting started in life and in dentistry, I worked hard to generate income in my trade –

 you have to in order to pay the bills and provide for your family.

But as I generated that current income, at the same time, I was also working on my future – my future wealth and equity.

This is something that most people don’t do. Yes, I’m a little bit of an outlier. But the reason I was able to do it was because I found the right people. Not some financial advisor or CPA, but I had to find people who had already gone down the road of creating what I call “future bank wealth.”

The “Plan B” that I talk about so much in Freedom Founders is something you can be working on as a very young person – the process of acquiring tangible assets, such as Real Estate outside of your practice.

That means doing two things at once: First, focusing on your current income, by increasing your skills and your ability to perform the highest level of treatment for your patients. Second, working on a Plan B – the future wealth and cash flow streams that will give you options and choices, the true financial freedom that most people never actually get to.

Unfortunately, most people spend so much time on their current income that they don’t work on their future wealth.  And that’s where the problem occurs: it’s an abdication. Wall Street and the financial world say “you don’t have time to learn how to do that. You need to put your money over here with us in a retirement account or tax-deferred plan.”  And then they lock up your money. 

While they do the best they can in their specific lane, they’ll never do as well as you can do for yourself – if you’re willing to put in the effort.  That’s the hard part for most people, because it’s not easy to do both. 

That’s why Freedom Founders was created. It arose out of a need I saw directly, because I had colleagues in medicine and dentistry coming to me saying “David, show me how you did this. How were you able to exit your active income and practice at such an early age?”

They knew why I did it (my daughter’s health crisis), but they didn’t know how I could do it. And I shared with them what I’ve just shared with you – it was by simultaneously focusing on my future equity and wealth, in addition to focusing on my current income to provide for my family. 

Freedom Founders is about speed to goal. It’s putting the plan in place that I started in my own life 40+ years ago. It helps people who are busy in their practices and their family, so they don't have to go out and do what I did when I was in my twenties. You're probably in your thirties or forties or fifties or sixties. You don't have time to go do what I did. 

In the world that we live in today, it's so important that you take some level of control over your investments and don't just put it out to the mainstream Wall Street marketplace – because they're not going to be good stewards of your money. You can't play that game and expect to have the results and confidence that you want for you and your family. The confidence that you can let go, and enjoy life and not feel like you have to stay on the hamster wheel indefinitely.

You’ve created success in your life, working hard, spending time on your expertise and practice, and building up some net worth – but are you really making that capital work as hard for you as it could be? Most people are not – not even close. 

That’s why I created Freedom Founders, and it’s become a passionate love of my life that’s made a huge difference for so many people. It could probably do the same thing for you – but you have to be willing to take a step forward. Connect with my assistant Alex on a quick discovery call, and he’ll be glad to see where you stand and if there might be a good fit. 

If you don’t ask, you’ll never know what could be possible. 

Sometimes bold decisions are required to move forward, but it’s on you to make that decision!
To your freedom!

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 Me:

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 click the link to jump on a quick call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to schedule a call with me directly.

2. 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. Go to to take the 3 minute assessment and get your scorecard.

3. Ready to Step Away?

“How Much is Enough?” This simple question keeps hard-working professionals at the hamster wheel of active income far longer than they need to be. Watch this free training, and discover a proven model for determining how much you really need before hanging up the handpiece!

4. Apply To Visit The Mastermind:

If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (3-5 years or less), visit to apply for a guest seat.

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