Succeed in Medicine

Exploring Financial Planning and Land Flipping

38min | 07/18/2023

Description

This episode is sponsored by @PearsonRavitz.

The episode features Dave Denniston, CFP, a financial planner and host of the Freedom Formula for Physicians Podcast. They delve into the concept of financial freedom for physicians, which involves becoming debt-free, having a strategic plan for income generation, and exploring tax reduction strategies. They clarify that while consumer debt is unfavorable, investment debt can be beneficial for cash flow and acquiring assets.

Looking for something specific? Here you go!

00:02:01 Financial freedom formula: Debt-free, strategic planning, lower taxes.

00:09:57 Negotiate fees with a financial advisor.

00:11:52 Different fee structures for advisors.

00:17:26 Utilize tax-saving strategies for physicians.

00:21:03 529 plans can be converted to Roth for kids.

00:30:42 Tax advantages of short-term rentals.

00:32:26 Passive income is not truly passive.

00:36:46 Tax efficiency in investments.

Bio/links!

Dave Denniston is a financial planner and advisor with expertise in land flipping. He has achieved success in various areas, including running land flipping businesses, hosting the Dr. Freedom Podcast, writing books, and being a financial advisor. Dave Denniston's ethos/philosophy revolves around being intentional with spending and aligning it with one's values. He believes that material possessions may not bring long-term happiness and emphasizes the importance of financial planning.

Find Dave on his LinkedIn.

Did ya know…

You can also be a guest on our show? Please email me at brad@physiciansguidetodoctoring.com to connect or visit www.physiciansguidetodoctoring.com to learn more about the show!

Socials:

@physiciansguidetodoctoring on FB

@physicianguidetodoctoring on YouTube

@physiciansguide on Instagram and Twitter

Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow!

Disclaimer:

This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

Description

This episode is sponsored by @PearsonRavitz.

The episode features Dave Denniston, CFP, a financial planner and host of the Freedom Formula for Physicians Podcast. They delve into the concept of financial freedom for physicians, which involves becoming debt-free, having a strategic plan for income generation, and exploring tax reduction strategies. They clarify that while consumer debt is unfavorable, investment debt can be beneficial for cash flow and acquiring assets.

Looking for something specific? Here you go!

00:02:01 Financial freedom formula: Debt-free, strategic planning, lower taxes.

00:09:57 Negotiate fees with a financial advisor.

00:11:52 Different fee structures for advisors.

00:17:26 Utilize tax-saving strategies for physicians.

00:21:03 529 plans can be converted to Roth for kids.

00:30:42 Tax advantages of short-term rentals.

00:32:26 Passive income is not truly passive.

00:36:46 Tax efficiency in investments.

Bio/links!

Dave Denniston is a financial planner and advisor with expertise in land flipping. He has achieved success in various areas, including running land flipping businesses, hosting the Dr. Freedom Podcast, writing books, and being a financial advisor. Dave Denniston's ethos/philosophy revolves around being intentional with spending and aligning it with one's values. He believes that material possessions may not bring long-term happiness and emphasizes the importance of financial planning.

Find Dave on his LinkedIn.

Did ya know…

You can also be a guest on our show? Please email me at brad@physiciansguidetodoctoring.com to connect or visit www.physiciansguidetodoctoring.com to learn more about the show!

Socials:

@physiciansguidetodoctoring on FB

@physicianguidetodoctoring on YouTube

@physiciansguide on Instagram and Twitter

Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow!

Disclaimer:

This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

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