Making More Money Isn’t the Answer

“I take home $300k per year from my practice. I’m in my mid-fifties, still putting some kids through school, and I never have enough extra money to invest. I’m behind the 8-ball and concerned about running out of time. My body can’t keep going at this pace. What do I do?”

First and foremost: It’s not about how much money you make, but how much you keep – and what buckets you put it in. 

Making more money is not going to make a bit of difference in the situation above. 


If you’re not in the habit of first taking a certain percentage off the table and getting it working for you, you’ll never be able to stop trading time for dollars.

If you try to work harder, faster, and longer…lifestyle creep, and even overhead creep in the business, will take over.

You can keep your head above water and provide a good life for your family for a while, but if you have no constructs to get that money working for you, you’ll never get ahead of the 8-ball.

My friend Mike Michalowicz wrote a great book called Profit First, and in it he shares this advice:

“Instead of simply taking sales/top-line profit and subtracting expenses to determine profit, you need to turn that around.

Instead, decide on a definitive percentage of profit.

You can start as low as 2%, 5%, or 10%.

Pull that money out first, and whatever’s left over is what you can afford for expenses.”

Parkinson’s Law says that we will expand the scope of anything we put in front of us. 

Whether it’s time, assets, capital, or revenue streams, we’ll expand it to the maximum (i.e. too far) – unless we have some positioning in place to take a certain amount of it off the table first.

Once you pull that profit out, you need to put it somewhere where it will work for you. The number one place I would put it for ROI is back into your business.

Once you’ve maxed out your business, then start putting it into alternative investments. 

Don’t abdicate your future by investing on Wall Street.

Start taking out that percentage first, and put it into your business, or other businesses, or Real Estate.

Don’t keep ratcheting up your lifestyle and then trying to outrun it. 

Too many people live great lifestyles but then find themselves in their sixties, going into their seventies, with no equity, no net worth – no investments to allow them to slow down and transition out.

Don’t let that happen to you.

To your freedom!

– David

P.S. Want to learn more? Join me for a two day intensive: But hurry, special pricing expires July 31 at midnight!

P.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. 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.

2. Attend A Workshop:

If you’re committed to Freedom, but still building a practice, paying down school debt,  or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit to claim your seat!

3. Apply To Visit The Mastermind:

If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit to apply for a seat.

4. Want to Work Directly with Me?

If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (, and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.

Leave a Reply

Your email address will not be published. Required fields are marked *