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

There's a revolution happening for physicians. Have you ever felt like you've been lied to? Like a supposed financial professional has taken advantage of you? Maybe they've sold you some crazy expensive life insurance policy. Or instead, maybe you know that your spending has been a bit out of control. You don't have a budget and instead you have a mountain of credit card debt. Or maybe instead... you have a mountain range of student debt. It's 100k, 200k, 300k, or more... Or, let's say your debts are paid off and you are sick and tired of the taxes that you are paying. Yet, you don't know who to turn to for advice. There's a financial education revolution happening. It's led by a man who has empowered dozens of physicians. It's the revolution of the White Coat Investor. My name is Dave Denniston, your host and welcome back to the latest episode of The Freedom Formula for Physicians Podcast. 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. This show is not always about actionable content. It is however a chance for you to see behind the curtains, to walk in another person’s shoes and experience their lives. Our next guest has not only been a physician, but is also a financial blogger and thought leader. As a matter of fact, he has inspired over a dozen physicians to start their own blogs so that they could model his success. A little bio on him… he is practicing, full-time, board-certified emergency physician just a few years out of residency.  Although he’s always been interested in personal finance and investing, he really started diving into the field as a resident when he finally got sick of financial professionals ripping him off.  In fact, most of his first few encounters with financial professionals ended badly for him. So, that really sucks and I know many of us can relate to that. Unfortunately, doctors are a target. We’ll dive into that later. I know he has a ton of wisdom to share with us and with no further adieu… Please help me welcome Dr. Jim Dahle (pronunciation- DOLL-EE), THE White Coat Investor…. In this podcast, you will discover... Why Jim had virtually no exposure to financial education growing up The moment when he was growing up that provided motivation to be financially successful The financial lessons he is teaching his kids Why debt hasn't played a role in his financial journey and the sacrifice of time he made instead How he built his empire and inspired dozens of physicians to be like him The 3 actions he is taking to drastically lower his income taxes His future plans for more books For the whole podcast, the show notes, resources, and tons of free stuff, make sure to visit the podcast website at www.DoctorFreedomPodcast.com 

For all the show notes, a full transcription, and oodles of free resources, make sure to check out the podcast website at www.DoctorFreedomPodcast.com Have you ever been in a position that your world was rocked? Have you ever found a shred of evidence that clouded your belief in yourself? Like deep down inside, you started to doubt yourself... You wonder if you’ve been giving some of your most critical, fundamental advice incorrectly. You even wonder if you screwed up other people along the way, not intentionally of course, but the guilt still nags at you. This happened to me not too long ago. I remember sitting there, staring at my screen. Simply dumbfounded. My jaw hung open… this couldn’t be right. My heart jumped somewhere around the middle of my throat. I thought, “Oh my god… this changes everything.” In this podcast, you will discover: Learn how I am worried that critical advice that I have been giving may be wrong Discover 3 scenarios that every physician should understand Why Roth in residency is a no-brainer How recent research opened my eyes Why you may need to change the way you are saving for retirement right now For all the show notes, a full transcription, and oodles of free resources, make sure to check out the podcast website at www.DoctorFreedomPodcast.com

Welcome back to the latest episode of The Freedom Formula for Physicians Podcast. I’ve been listening to quote a few other podcasts lately. One in particular is focused on dentists. What’s fascinating to me as I listen and learn from these dental entrepreneurs is how much they are focused on having a steady stream of patients that aren’t referrals from other clinicians. I really believe that the most financially successful physicians in the future are going to be those that are less reliant on reimbursements and more reliant on their own brand. From what I’ve seen so far, these physicians seem to have far more control over their time and their financial freedom. So, today, I’d like to empower you with information to help you do this. You my friend are the captain of your ship, in control of your destiny. Our guest today has been focused on business development with a healthcare, tech generated focus throughout his whole career. He’s been working in and around physicians for over a decade and has seen what is successful and what is not. What’s really awesome about his current company is that they are focused on patient acquisition, reputation management, & retention marketing specifically for physicians. So, let’s dive on in. I know we’re going to learn a ton today. Please help me welcome Matt Pierce from Patient Pop. In this podcast, you will... Learn why a hospital based physician could (& probably should) utilize a system like this Discover the 3 most important components of physician marketing Learn how PatientPop proactively helps physicians collect reviews that are fantastic & in addition get constructive criticism from pissed off patients [without hurting your rep online] In the BONUS whole unedited interview... Learn the difference between ZocDoc & PatientPop Discover the pros and cons of this SaaS (software as a service) & what you give up Learn why a holistic marketing approach may be better  How their system works & where it could help your practice Resources Mentioned In This Podcast PatientPop ZocDoc The Freedom Formula for Physicians The WHOLE UNEDITED INTERVIEW WITH MATT PIERCE

For all the resources, show notes, and tons of free stuff, visit the podcast website at www.DoctorFreedomPodcast.com Have you ever been sick to your stomach with the taxes that you are paying? Have you ever wondered... How can I pay less (LEGALLY) without getting thrown in jail? What should I do if I have a side gig like a locums? How can I lower my taxes? Well, my friends, then you are in luck! In this episode of the Freedom Formula for Physicians podcast, I reveal: How one physician struggled with the tax structure and what he needed to do to minimize the 1099 taxable income from his locums Learn how to avoid payroll taxes on 1/2 of your 1099 income Discover when NOT to use a S-Corp even when it may save you some $ in taxes What to do when you have a main gig and a side hustle locums income Learn what tax deduction you can take when your main job doesn't have a retirement plan Discover how I've helped clients get tens of thousands of dollars in tax deductions How adding a (right) employee could help you double your tax deductions WHILE saving even more for retirement For all the resources, show notes, and tons of free stuff, visit the podcast website at www.DoctorFreedomPodcast.com

For the whole podcast, the resources, and all the show notes, make sure to visit www.DoctorFreedomPodcast.com.   One of my obsessions has been helping physicians grow their practice. I’ve been hunting down various guests and resources to empower physicians to do grow their practice. Our next guests are a couple of PhDs. As a matter of fact, they are the first couple that I have the pleasure of interviewing together. Image courtesy of stuart miles on freedigitalphotos.net The male half is of this power couple is a veteran psychologist and long time CEO of a multi-million dollar consulting firm which has serviced several Fortune 500 clients in the food industry. His work, theories, and research have been published in major periodicals. The better half and of course I mean…. The female half of this power couple has helped scores of people make a difference in people’s lives while making a living doing it. She is the President of the International Coach Certification Alliance as well as an author, hypnotist and hypnosis trainer, therapist, and business coach. She has supervised hundreds of coaching students, helping them develop their coaching skills, choose a niche, and build their practice from scratch. I can’t wait to hear about their journey! Please help me welcome Dr. Glen Livingston and Dr. Sharon Livingston. Welcome Glen & Sharon! In this podcast, you will discover... How guilt shaped Sharon's viewpoints on money What Glen would advise physician parents to learn from his own mistakes The horrific financial mistake that cost them millions of dollars (& what they did to overcome it) The 3 golden nuggets Sharon learned in interview over 25,000 physicians How one physician developed a side hustle that matched his income from practice For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

For all the show notes, resources, and more free content, visit www.DoctorFreedomPodcast.com. Poof! Like smoke billowing from a magic show filled with lights and distractions, many physicians today are caught up in the mystery and enigma of annuities. They are told, “You can’t possibly lose money!” Yet, there’s a cost behind such a promise. There is perhaps no topic more divisive in the investment community than annuities. Some people hate ‘em; some love ‘em. Research shows that lifetime income is what physicians and their families need. Uniquely, annuities can provide it, but there are drawbacks... In this podcast, you will discover... Why I don't discuss stocks, bonds, or mutual funds in this podcast [Audio only] How a man fooled an entire town & the lesson you can learn from Discover the most divisive investment today & its pros and cons [Hint: There's a lot of them!] Learn when might be a good time to invest in a fixed annuity (& why not may not be that time) For all the show notes, resources, and more free content, visit www.DoctorFreedomPodcast.com.