It’s Time To Create Your Financial Freedom Blueprint

Transitioning from a Successful Career to a Successful Exit

Picture of by Dr David Phelps

by Dr David Phelps

Many high-net-worth, high-income business professionals, doctors, and dentists that I work with have analysis paralysis when it comes to investing their money to obtain financial freedom.

They’re hesitant and lack the confidence in themselves to make the right decisions.

They climbed the career ladder through hard work, technical skills, good customer service, and a great product, all to build a comfortable lifestyle. But when making decisions outside of their technical capabilities (outside the field of dentistry, healthcare, and academic rigor), they lose confidence. They lose certainty.

The Problem of Traditional Success

Most spend much of their early years becoming technically proficient. There's a step-by-step process to graduate from college to professional school, to GPRs, to higher levels of certification.

There's always another mountain you are told to climb with specific step-by-step instructions on how to proceed. The problem is we become too good at following instructions.

Point us in the right direction and we’ll charge ahead, but we need to be told a direction, a plan of action. We never practice or become good at creating that plan for ourselves.

This means we struggle with financial planning and often surrender it to someone else. When it comes to transferring the capital we work so hard to build into assets or investments, there is no step-by-step formula (at least not a successful one).

There are no measurable milestones for us to track our replacement of active income progress. There is only the traditional accumulation model that gives you a random pie-in-the-sky number to shoot for. The traditional retirement model just tells you to save as much as you can for as long as you can. No milestones. No end in sight.

Traditional Retirement Plans Leave Much to Be Desired 

The traditional retirement plan usually advocates storing your capital in tax-deferred vehicles like 401(k)s, cash balance plans, and defined contribution plans. They aim to defer taxes while investing on Wall Street, fingers crossed that it’ll work out by the time you’re in your 70s. 

That is the model. And in my estimation and experience, it is a very poor model. So why do hardworking, intelligent professional practice owners follow that direction?

Because it's sold to them, it's sold to everybody. And it’s easy for us to abdicate that responsibility which we have no expertise in and have never been taught to learn about.

What we are doing when we hand over that responsibility to others is surrendering our future to the hands of somebody else who, whether well-intentioned or not, will not do as good a job as you can.

How Can I Do Better Than My Financial Advisor?

You’re thinking, “Wait, David, I don’t know what to do. I can’t create a plan for myself. I have no training in this.”

I understand. That’s why in Freedom Founders we can help you fold time by providing the education, the training, and the guardrails necessary to help our members become sophisticated investors and financial stewards of their capital.

We teach and guide our members to navigate the economy, and the market cycles, and build a customized financial blueprint for their lives. A plan that fits their lifestyle, their way of living, and does not have to start when you’re in your 70s.

Why Can’t I Just Buy and Hold Investment Products?

I hear of so many just playing the dollar cost averaging. “I'll just buy and hold. Let the money go up and down and at the end of 30-40 years, it’ll average up.”

However, the net returns throughout that time, particularly the real returns including inflation, are very nominal. Extremely nominal.

And that's what keeps so many on the treadmill, not able to let go and enjoy true freedom. They can’t take time off to create memories with their family or enjoy an earlier exit than 65 or 70 (Age 70 is the current average retirement age of professionals).

Most business professionals have never learned to take control of their money. That's a huge inflection point they’re missing. Increasing our active income is something we get very good at doing. But transferring that into assets that produce income without us present is an inflection point most miss.

A Reliable Way To Replace Reliance on Practice Income

Through curiosity and intentional effort, I was able to figure out how to turn my active earned income into passive, reliable income at a very young age.

This made a huge difference for me when I needed to step away from my practice, reducing my trading time for dollars as a dentist. Dentistry is a wonderful career, but I needed an escape route. 

Learning how to increase my passive income gave me the option, the freedom to escape the chair at an early age.

Are You Missing Out on Precious Memories?

In Bronnier Ware’s The Top 5 Regrets of the Dying, she explains the thoughts, emotions, and regrets of those on their deathbeds – the people she spent several years taking care of. I encourage you to read her book.

None of the regrets of the dying were more money, a bigger business, working more/harder, or climbing the career ladder further. 

So what are you putting off right now? With family and creating those precious memories? What has you so stressed out that you can’t seem to find an answer for?

The financial planners and money managers don't have certainty for you. They can’t promise you certainty no matter how much you’d like some.

If you are looking for sustainable, predictable replacement income that allows you to take time off from work and reduce stress, there is a proven path you can take.

And it's not just my story. We have hundreds of people we have helped to create a financial blueprint for their capital, investments, and their lifestyles. In Freedom Founders we collapse time and give a runway to the freedom that so many people want.

Will 2024 be the year to create the path to your freedom much faster than the traditional model?

To your freedom!

– David


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.

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