Investing & Passive Income

A Huge Investment Opportunity Many Dentists Miss

What do I do if I don’t know anything about investments?”

The question greeted me in my Facebook private message feed.

The sender gave her name, but asked to remain anonymous.

(Sadly, investing can be intimidating… many feel guilty for not doing more… or even knowing more.)

For the sake of anonymity, I’ll call her “Jill”. This is what she wrote:

“Hey David, just saw your video on annuity income. Thanks for sharing.

I’m 34 years old and five years ago, I started a dental practice from scratch. In a four-year span, I opened the practice and my hubby and I had four kids.

I know nothing about investments or other avenues of income besides dentistry. I want to set myself up for a future where we can retire when we want, enjoy good quality of life both now, and later.

What advice would you give someone like me?

What a great question.

Jill, you have a busy life. I think your primary focus should be on two things:

  • First: Your family.
  • Second: Your practice.

You have four kids under five years old. That’s busy.

I don’t know what role your husband plays… if he’s working with you in the practice or not. Either way… you have a full plate. Focus on being the best Mom you can be. Also focus on building a strong, vibrant practice.

But what about investments? What about the future?

You have an extraordinary investment opportunity in front of you… hiding in plain sight.

Invest first in your practice. It is your engine for growth.

Why try to invest at an 8-15% rate of return in real estate when you could invest in your practice and make a much greater return that cash-flows for you and your family?

Remember: Your business is your first and primary asset.

Until you optimize your current business or practice, you really shouldn’t be putting money into other investments.

Investing in your business not only gives you the best returns, it also gives you better tax deductions than any other form of investment.

Once your business is rolling and you’ve got extra cash flow coming off the top, that’s the right time to start asking serious questions about investing:

  • Where would I get the best return?
  • The highest degree of control?
  • The most predictability in cash flow?

On Wall Street, they teach you to save up and acquire a pile of money, but they never teach you to turn that money into real cash-flow that’s predictable and sustainable.

That’s where the Wall Street model fails.

So start investing… first in your practice.

Finally, join a group of people that have similar goals. Folks that want to develop their skill set and investing acumen.

Safe and steady wealth building starts with education.

I don’t care if it’s a mixed group of folks that do Wall Street and Real Estate – balance is good.

You’re already asking good questions and educating yourself. You’ll quickly sniff out what’s working and what’s not.

You’re probably not quite ready for Freedom Founders but at some point, you will be.

Keep knocking on our door and at the right time, we’d love for you to visit.

In the meantime, keep learning, stay focused on your practice and above all, stay focused on your freedom.

Thanks for the question Jill.

To Freedom!

 

David

 

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