Are you a “Decathlon Dentist?”
I know some super “decathlon dentists” (those who can do high-end restorative/rehabilitative dentistry in their sleep).
The downside: most can’t slow down or even think about retiring.
Sadly, this is not unusual – it’s more the norm than you would think.
Why? Dental school brainwashes us to idolize these guys.
Result: A short-term, imbalanced focus – making money today, becoming a highly efficient and profitable producer with no viable end game.
What’s wrong with that? Isn’t that what work is all about? Making the most money for the time involved?
That’s what we were taught growing up. But that’s not the path to freedom (I talk about freedom because I think it is much more relevant than the Industrial Age term “retirement” – who wants to retire when you’re having fun?).
Four Secret Downsides To A Large Active Income…
Trading time for dollars, even at a high dollar per hour rate has limitations:
1. It’s dependent on your active labor – where’s the freedom in that?
2. There are only so many hours available for work – you eventually wear out.
3. Active income (ordinary income) is the most highly taxed form of income.
4. If it’s “all about you,” it’s never secure.
Bottom line? Focusing on making money is only providing for your current lifestyle…as long as you keep working.
Stop working and… …you fill in the blank – no security.
What’s the answer? Sustainable passive income through real estate acquisition.
Over my twenty-one years in practice, I built a 7-figure plus practice that very adequately provided for my family’s lifestyle – as long as I worked in the practice.
On the side, in a lot less time, I built a multi 7-figure real estate portfolio.
When I sold my practice, it comprised about 20% of my net worth, yet took 99% of my working time to build it.
My real estate portfolio had 4 times more equity than my practice AND it produced more cash flow income than my practice.
Re-read the last two paragraphs if you missed the point – active income is where you start in life. The faster you can transition from active to passive income, the faster you reach freedom.
And for me, that’s the goal.
How about you? What’s your goal? Do you have one? Are you on course? Do you know how to measure it?
If you can’t answer these questions with specificity, you might be on a path to nowhere – a treadmill with no exit strategy.
Want to find out how to create your Freedom Blueprint?
If you’re committed (not just interested), go to www.FreedomFounders.com/Step-1 and submit your application – I’ll make time in my schedule for a strategy call with you.
It’s a choice…choose wisely.
To your freedom,
P.S. There’s never been a better time to invest wisely in real estate. The window of opportunity is there to be seized. The question is, will you seize it?