Do You Know How Much is Enough?

Picture of by Dr David Phelps

by Dr David Phelps


ack during the holidays, I made a post on my personal Facebook page,

 and also separately in a few of the dental forums where I interact occasionally.

In the forums, I talked about how typically around the turn of the year people are reflecting on their lives and their new goals and resolutions.

That’s all fine and good; there is nothing wrong with setting new goals and mile-markers. But I think a lot of people do that with good intentions and then break them very quickly. They fall off for various reasons, which I won't go into today.

In my post I talked about why I do what I do, because I often get questions like, “Hey David, if you figured this financial freedom thing out and you don't have to work, or if you sold your dental practice years ago and don't have to go produce that active income – why do you do what you do today? Why do you do Freedom Founders? Why are you out there, marketing and putting messages out on Facebook and blogs? What’s that all about, if you don't really need to do it?”

That's a fair question, especially when you're at a place in life (which we all start out at) where you need to be active in creating income. I was that way for many years, creating transactional income, doing what we learned how to do in school. That's a part of life. You’ve got to have some money to turn the wheels. 

What I realized relatively early in my life (not because I figured it out, but because I was forced to do the math) is that the big question a lot of people have is: “How much is enough?” Most people never know, and that question keeps them on the treadmill – grinding it out much longer than they really need to.

In the post, I highlighted a letter I received from one of our Freedom Founders members over Christmas. This member has been with us for two and a half years, and he was very skeptical about Freedom Founders when he was first checking us out. A lot of people do that, and I totally get the skepticism. We've all bought into things or ideas that never had any real foundation. Or sometimes it's just us, and we didn't commit to a particular plan. There are a lot of things that didn't work out in life, right? We've all had those.

What we do at Freedom Founders is not “an inexpensive date” as we call it, but we help create real transformation. I say “help create,” because the person still has to do the work. There aren’t any magic beans that we sprinkle on the ground, and all of a sudden a money tree forms. Of course not. But we create frameworks and a plan.

What we really help people figure out is how much they actually need, and how to take whatever their nest egg is – oftentimes a hodgepodge of different products, investments, equity, and maybe a practice sale – and realign and tie it all together so that it generates income. It’s revenue that does not require us to produce it, and is generated by assets.

When someone gets to that point when they know they have enough (and the math is really not hard to do)… everything changes. 

I tell people that I do what I do today because I don't need to create more income. I've done that, and I know how to make my capital work for me. I learned how to start doing that 40 years ago and just built my expertise over the years. Now I do it through collaboration with other people, and that's the design of what we do at Freedom Founders. 

The point is: When you don't need anything in life, that's where you can find out where you really are best to serve.

And I love getting notes and messages from so many of our members who have the same experience. It changes their life. It's not because of the money or the investments per se. Sure, that's a piece of it – but it's because they changed the way they think about their lives, and quit putting it off until “someday” when they feel like they can take their foot off the pedal. It happens over and over and over again.

That's what gets me up every day. That's what gives me motivation. That's what gives me the energy to do what I do. I've got to be relevant somewhere, and if I'm not fixing people's teeth (which was a great run for many years) how else can I help? How else can I serve, particularly when I don't need the money to do it? That's why I do what I do.

If you're running on that treadmill because you don't know how much is enough, and you want to be a good financial provider for your family, I get that. You never know how much is enough, so you just keep doing more and more. More practices and a bigger office, all of this stuff, and piling up more money in the 401(k). 

My point to you is: There is never an end to that. Do you realize that there is never an end to that? That uncertainty is going to linger with you forever until you first learn how to make your money work for you on a sustainable, predictable basis. And that's not going to be in the stock market

So it's not easy, but it's a better way. And people who come to Freedom Founders and are willing to jump in and run a blueprint that we customize for them, that's what they get as starters. And then it's just a matter of time. This one was two and a half years; we've got those who do it in twelve months. We have some who may take 24, 36, or 48 months based on where they are in their life.

The point is that they've got measurable milestones. And even while they're working toward that freedom goal, they can see it. When they can actually see it, that takes some of the pressure off. So even while they're still working, they can live their lives with more peace, harmony, and security. 

The stress is off, and when that happens we're all better people for the people we serve. Life is better. Joy and happiness prevail, rather than the stress of worrying about the things we can't control.

That was a little bit long-winded, but I just want to give that to you. We're still at the start of a new year, and if you haven't thought about what changes you're going to make in this new year, think about it. Think about it now. Then you've got to have a plan and implementation.

There are key pieces of that that I'll talk about in another video at some point, but just having the idea that you can live a different life is something I want you to take in and not pass off as, “Oh, just another dreamer's idea.” 

Nope. It's happened for me, and I've seen it happen for hundreds of people who've come through Freedom Founders. It may be something that would be right for you at the right time. 

Happy new year, and remember: Always stay focused on 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 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. 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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