The Freedom Formula for Physicians | How Doctors Cut Debt & Slash Taxes | Business Of Medicine | Financial Education

This June we are focusing our attention on the Top 5 Podcasts that we had in 2017. They are a great mix of topics from real estate, taxes, and the ever popular side hustle. Here are the notes and resources from this episode:   In this podcasts, we’ve interviewed experts of all kinds- debt, burnout, real estate, and taxes. I thought, hey it’s about time we found a tax guy again and so, I go out there and do a search. That’s where I found our next guest. He is a CPA and he is the co-host of a podcast- however, he doesn’t prepare personal taxes. He is a comedian on the side- a comedian and a CPA, talk about complete opposites, right? He’s shared the stage with Weird Al, Christ Kattan, and Rob Schneider to name a few. Anyhow, like I said he doesn’t prepare personal taxes- instead he is a controller and general manager of some medical office buildings. What’s so interest about his day gig- is that he sees a lot of issues with succession planning and buying and selling private practices. So, I know we’re going to gain some really great insights today! Please help me welcome Greg Kyte the controller and general manager for the Utah Valley Physicians Plaza. In this podcast you will: Discover the creative way he conducts commercial real estate without using realtors Learn different ways to structure purchasing deals in real estate Find out how to protect yourself with earns outs versus notes Learn Greg's big piece of business advice (HINT: It may not be what you would expect) For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

This June we are focusing our attention on the Top 5 Podcasts that we had in 2017. They are a great mix of topics from real estate, taxes, and the ever popular side hustle. Here are the notes and resources from this episode: Welcome back to our monthly fireside chat with a physician to get to know their journey, their joys, and their struggles with finances and outside of finances. My friends, in this show, I try and dig deep to find interesting people. As a matter of fact, our next guest was featured on the August 27th, 2016 episode of Dr. Nii Darko's podcast, Doc's Outside The Box. I was immediately drawn to this episode, as it was titled, "This doctor had it all, but didn't want it." She was a top performer in medical school, and then got to the point of struggling with whether or not she wanted to be in clinical medicine. Fresh out of residency, she decided she not to. In this interview today, we’re going to talk about her journey and successful transition, because now she is helping other physicians do this as well. Please help me welcome Dr. Michelle Mudge-Riley from Physicians Helping Physicians. Welcome Michelle!    In this podcast you will: Discover what led Dr. Mudge-Riley away from clinical medicine into helping other physicians who also want to escape clinical medicine. Be inspired on how taking the road less traveled can lead to the greatest successes. Gain knowledge on how Physicians Helping Physicians, Dr. Mudge-Riley's organization, develops customizable plans for each of their clients. Learn from Dr. Mudge-Riley's mistakes and acquire the right tools and protocol to protect yourself if you decide to also move away from clinical medicine. For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

This June we are focusing our attention on the Top 5 Podcasts that we had in 2017. They are a great mix of topics from real estate, taxes, and the ever popular side hustle.  Here are the notes and resources from this episode: My friends, in this show, I try and dig deep to find interesting people. As a matter of fact, LinkedIn is a wonderful tool and this physician reached out to me on LinkedIn. He also was kind enough to mention the podcast in a post that I will link in the show notes. http://www.physicianspractice.com/blog/listen-podcasts-physicians Our next guest is the author of that post. He graduated from the Mayo Clinic in 1999 ready to conquer the world. Working as a family physician in Southern California, he truly enjoyed medicine but wanted something else in life. In 2003, an event occurred that really spurned his life and drastically changed his direction that I’m sure we’ll get into. As a doctor working 60, 70, 80 hours of a week that just wasn’t happening. So he made the decision to go full-bore into starting his own online business and has sold and started others since. Today, he has an online site- BootstrapMD- which was created to help work with other like-minded doctors who are ready to be their own boss and take control of their physician life. Please help me welcome Mike Woo-Ming MD from Bootstrap MD. Welcome, Mike!       In this podcast you will: Discover how his family had an influence on how he handles money. Receive Mike's BIGGEST financial mistake, so you don't make the same mistake. Learn what drove him to become a doctor and what other choices he had to choose from. (HINT: You may be able to relate to his situation). Explore the life events that occurred that made Mike change his career path. Acquire Mike's different entrepreneur paths and which ones were financially rewarding and which ones took him on an unexpected path. For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

Welcome back to our monthly fireside chat with a physician to get to know their journey, their joys, and their struggles with finances and outside of finances.  Our special guest today is a fellow podcaster, a hospital-employed radiologist, and prior to that, he served as a physician in the U.S. Air Force.  His podcast is Dr. Money Matters. In this podcast you will: Learn about Tarang's upbringing and background leading to his career Take in his experience of not getting into medical school the first try, but how his perseverance lead him to where he is now Attain an inside look into the dot.com boom from Tarang's perspective during his medical school years Hear about his residency years and what lead him to the radiology field and his service in the Air Force Learn about some investment mistakes Tarang's father, who is also a physician, made early on his residency and practice in the US, after moving the family from Africa to the United States and what Tarang has set in place to avoid those same mistakes Receive encouragement from Tarang to develop something outside of your practice that you're passionate about     Resources mentioned in this podcast: Doctor Money Matters Podcast Doctor Money Matters Podcast Episode 15 -"The dark side of doctoring"-Physician Burnout with Dr. Eric Levi from Australia  Doctor Money Matters Podcast Episode 25-Common Financial Issues Addressed-Part 1 with Victor Mangona, MD & David Anderson, DO Doctor Money Matters Podcast Episode 26-Common Financial Issues Addressed-Part 2 with David Anderson, DO & Victor Mangona, MD That wraps it up for today! In the next podcast, I would love to tell YOUR story! Connect with me at dave@doctorfreedompodcast.com and let’s help tons of physicians. Text DOCBOOK to 44422 for exclusive offers on my latest book, The Young Physician's Guide to Money & Life  with over $100 of bonuses.  If you have questions or want to share your story, I'd love to hear from you. Contact me at the email address above or on my website www.doctorfreedompodcast.com. Thank you for joining us for Freedom Formula for Physician's Podcast-a podcast dedicated to help you slash you debt, slash your taxes, and live a liberated lifestyle.

Welcome back to the Freedom Formula For Physician's Podcast.  If you have been listening to me for the last year, or maybe you're brand new, what I'd like you to do is go back to the archives, and check out season 3, where I started going through this process of acquiring other assets, trying to create multiple income streams.  So this is the Quarter 1 2018 update.  I'll be discussing my online business, this podcast, and my latest craze, land flipping, while walking you through my highs, my lows, and the specifics of these various ventures. In this podcast you will: Get an update on what's going on with my life Discover what's going on with my different financial experiments Hear about what's working and what's not working Know the lessons I'm learning along the way I hope through this podcast, you see that although there is a lot of work, there is also a huge amount of opportunity.  So whether you're getting into something similar to what I'm doing-buying a business, starting a new business, or something completely different, I want to encourage you to take a step of your comfort zone and try something new.  If you don't take a risk, you'll never know what can happen.  I hope this podcast inspires you and encourages you.  If you'd like more information, feel free to contact me at dave@doctorfreedompodcast.com Text DOCBOOK to 44422 for exclusive offers on my latest book, The Young Physician's Guide to Money & Life  with over $100 of bonuses.  If you have questions or want to share your story, I'd love to hear from you. Contact me at the email address above or on my website www.doctorfreedompodcast.com. Thank you for joining us for Freedom Formula for Physician's Podcast-a podcast dedicated to help you slash you debt, slash your taxes, and live a liberated lifestyle.

Welcome to another episode of Freedom Formula for Physician's Podcast.  I'm excited to have a repeat guest, Nii Darko, from Doc's Outside The Box, on today's episode.  He's sharing the excitement of paying off not only his student debt, but his wife's also.  Combined they shared $662,000 of debt.  He shares about how he and his wife early on were paying more into their cash value plans than into their student loans, and that the frustration of that lead them to say "enough is enough".   In this podcast you will: Discover why if you're married, working with your spouse as a team to combine and slay your "debt dragon" together is the best strategy  Learn how surrendering their cash value life insurance helped Nii and his wife pay off a significant amount of their debt Uncover a great method to paying off your debts by categorizing Discover the sacrifices Nii and his wife made to pay down their debts Hear Nii's thoughts on how he feels the medical field is changing Resources mentioned in this podcast: Doc's Outside The Box Podcast- Nii Darko Equal Access Health Text DOCBOOK to 44422 for exclusive offers on my latest book, The Young Physician's Guide to Money & Life  with over $100 of bonuses.  If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my website www.doctorfreedompodcast.com. Thank you for joining us for Freedom Formula for Physician's Podcast-a podcast dedicated to help you slash you debt, slash your taxes, and live a liberated lifestyle.

Welcome, my friends to another episode of Freedom Formula for Physician's Podcast.  I have been sharing my own financial experiments with you, and it's been great having guests on the podcast that I've met through those financial adventures.  Today my guest is Scott Bossman, another land-flipping colleague of mine, who shares about his own experience in what most would call, a "boring" business.  Throughout our episode today, you will hear Scott's journey of how he and his wife's decision to venture into land flipping not only helped to create a financial freedom and independence for them and their four growing boys, but also helped him to better appreciate his career as a physical therapist. In this episode you will: Hear how Scott dealt with and overcame the anxieties of starting the land flipping adventure Learn why relationship is key in every type of business Discover the success of raw land flipping  Learn each step and the tools of the business Hear update on my own land flipping business adventure Resources mentioned in this podcast: Mark Podolsky-The Land Geek Keith Weihold-Get rich education podcast Scott & Erin Bossman-Land Bosses Text DOCBOOK to 44422 for exclusive offers on my latest book, The Young Physician's Guide to Money & Life  with over $100 of bonuses.  If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my website www.doctorfreedompodcast.com. Thank you for joining us for Freedom Formula for Physician's Podcast-a podcast dedicated to help you slash you debt, slash your taxes, and live a liberated lifestyle.

Our next guest is a cardiologist from Northern California… and you guessed it- he is also a…. blogger- another blogger I found courtesy of the extremely lengthy blog roll from PhysicianOnFire. He’s someone who is really passionate about his family and is playing around with the idea of retiring early but doesn’t seem quite sure yet. So, we’re going to get into that. He’s 5 years into being an attending physician and is well on his way to financial independence. Anyhow, I can’t wait to hear about his journey and his advice for us! Please help me welcome EJ from Dads, Dollars, and Debts. Welcome EJ! In this podcast you will: Acquire his views on living a modernism lifestyle versus a minimalist lifestyle. Learn how his family influenced his habits with money: spending and saving. Did EJ take on his parents spending habits? Discover how a house fire ended up benefiting EJ and his family financially. Hear how EJ and his wife view spending money and how they balance their differences. (HINT: You may be surprised how EJ handles their differences.)  For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

Have you ever wanted to open your own cash-based, insurance free practice? If the answer is YES then I invite you to attend a special workshop, led by my friend. Dr. Mike Woo-Ming, who I’ve previously interviewed on this podcast.   Mike is a physician Entrepreneur, who has been quietly teaching physicians a special type of medical practice that is cash pay only and takes no insurance. He calls them “Paradise” practices.  And they have been wildly popular not only for patients but for the physician owners. Because it allows you to work less while making more. Well, Mike and his team are looking to help more doctors who want to learn this successful system that trains you to build these cash pay, insurance free practices that can work in almost any location. And as friends of the Doctor Freedom Podcast, He wants to give my podcast listeners a special discount if you would like to attend this exclusive workshop If this Resonates with you, I invite you to go to this link ParadisePracticeWorkshop.com/freedom And receive $100 off your registration. That’s ParadisePracticeWorkshop.com/freedom and get $100 of your ticket.

My friends, in this show, I try and dig deep to find interesting people. Our guest today is not a doctor, but she is married to one. She is married to a surgeon and she is on a mission to help other physicians. Help them to understand their path and what it is like to be married to a physician.   She and her husband got married before he started his medical path. For 16 years they have struggled, triumphed through the MCAT, through medical school, through residency and fellowships including a specialty change. They have 4 kids and she knows that being married to a physician is not an easy journey. I know she is going to bring to us some wisdom and talk to us through their journey. Please help me welcome, Lara McElderry! Welcome, Lara! In this podcast you will: Learn the lessons that Lara would share with the physicians on how they could support their spouse and nurture their marriage. Discover the curveball that they dealt with that could have ended her husband's medical career. Learn how they survived having 3 kids while her husband was in medical school and residency and Lara was a stay at home mom. Find out the 3 subjects she aims to focus on within her podcast: Married to Doctors. Take in the biggest financial mistake that they made that Lara would not want you to do or have to go through. For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

Our next guest is a board-certified anesthesiologist working both in academic/private hospitals in Los Angeles. She is an entrepreneur, an author and a mother of two and a wife. Where does she find the time? In an attempt to raise money for her start-up, she accepted the challenge and opportunity to compete as a castaway on the hit reality TV show Survivor. She was on the hit TV show during season 5 of Shark Tank. Edna has written three children’s books which celebrate cultural and racial diversity. Outside of the operating room, Edna attempts to balance work, life, and being mother/wife. I bet she has some tips we all could use for work-life balance. Please help me welcome Dr. Edna Ma! In this podcast you will: Discover how Edna balances her medical career, family, and entrepreneurship ventures. Explore the pros and cons that came from her experience on Shark Tank, Did she get a deal??? Receive tips and tricks to help you get on Shark Tank, the process may be a lot different than you may think it would be. Learn what new side hustle she is involved in (HINT: It's something that I have focused some podcasts on and I'm diving into myself!)  For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/  

When you think about money, your spending habits, and your instincts do you analyze the mental and emotional side to finance? Most people do not realize that there is a correlation between spending and human emotion.  Emotions play a powerful role in shaping our financial behavior, often making us our own worst enemies as we try to save, access value, and spend responsibly.  I have read the book: Dollars and Sense by Dan Ariely and Jeff Kreisler. I am going to give you a short synopsis of the book and my thoughts on the mental side of spending and saving your money. In this podcast you will: Learn the mental side of finance aka behavioral finance and how your spending habits may or may not change based on your mood. Discover if getting something for free is too good to be true (HINT: You may be surprised by the very common result of a free promotion).  Acquire ways that people avoid pain when it comes to money and spending. A lot of these tips are very easy to put into your routine. Gain practical tools needed to understand and improve your financial choices, save and spend smarter.  For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

Hello my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast.  The podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.  As you know, there has been a lot of focus on the tax reform.  This will be my final one for the current future, and today's focus will be small businesses-S-CORPs, sole proprietorships, etc. In this podcast you will: Discover how the new tax reform will impact small businesses Learn the difference between a s corp and a sole proprietorship Discover how taxes differ between FICAs-Social Security and Medicare Get lots of questions answered from our episode with Craig Cody in February 2018 Learn the difference between "above the line" and "below the line" tax deductions Uncover the still looming question, "Does the taxable income have to do with all of your income, or is it just based on your business income?" Resources mentioned in this podcast: How Pass-Through Income Will Be Taxed In 2018 For Small Business Owners Tax Reform! How Physicians and the Self-Employed are Affected Individual Tax Planning Under The Tax Cuts And Jobs Act Of 2017 Trump Tax Reform Calculator A Tax Professional’s Take on Trump’s Tax Plan If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222. If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my websitewww.doctorfreedompodcast.com. Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.

Hello my friends, this is Dave Denniston, and welcome back to another episode of Freedom Formula for Physician's Podcast.  Joining us for this episode is a three-time guest.  He is an author, mortgage lender, specializing in physicians, dentists, CRNAs and PAs, and you'll hear him on his own podcast, Physician Financial Success Podcast.  Please help me welcome Josh Mettle.  In the past we've discussed buying homes and rental real estate.  This is a great time of the year to discuss these topics if you're transitioning to practice, buying your first home.  Or maybe you've been an attending for the last year or two and now you're considering buying your first home.  This episode is just for you.    In this podcast episode you will: Hear about the two colliding forces that will cause mortgage interest rates to go up from here on out, and how to prepare yourself for it Learn why mortgage rates are starting to move up, yields are moving higher, how that is affecting the season of buying bonds and how that will make an impact on home purchases Discover how new home sales, existing homes, and permits might be affecting demand and supply Get great advice on how to look at purchasing and owning your home with the "big picture in mind" vs. your home owning you Learn why living like a resident financially after transitioning to practice for the first couple years and paying off your student loans quickly will help you be better financially secure for the future Resources mentioned in this episode: Josh Mettle- Real Estate Smashing Failures & Glorious Successes The Tax Reduction Prescription with Josh Mettle Josh Mettle- The Pitfalls of Physician Mortgages www.doctorfreedompodcast.com/homevalue Physician Financial Success Podcast     If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my websitewww.doctorfreedompodcast.com. If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222. Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.  

Welcome back my friends to the latest episode of Freedom Formula for Physicians' Podcast.  I'm honored to have a guest on here with us today that has tons of experience in podcasting. With over 6 million downloads of his podcast and an accomplished career in the financial world, he is now enjoying life, traveling the world, and helping people with financial issues and questions. Please help me welcome David Stein of Money for Rest of Us.   In this podcast episode you will:   Be motivated to not just settle with getting by Learn how to think "forward" as our economy is always changing Hear David's story of starting with nothing and moving to prosperity based on moving his thoughts to actions and taking necessary risks Discover David's formula for how his podcast is growing-it involves investing in his listeners and giving away resources for FREE Learn what some of the biggest financial pitfalls can be Be motivated to develop a lifestyle business after retiring, especially if you retire early  Resources mentioned in this episode: Money For The Rest of Us Podcast  If you have questions or want to share your story, I'd love to hear from you. Contact me at dave@doctorfreedompodcast.com or on my websitewww.doctorfreedompodcast.com. If you are confused about this tax stuff and you want the latest copy of the Tax Reduction Prescription and that calculator I was talking about in January, there's no better time to grab that then right now! Text LESSTAXES to 44222. Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.