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 a practicing, a 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

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Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.

The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.

Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

How do you transition out of medicine? What does that look like?

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 was kind enough to join me to discuss how CovID19 has impacted the medical practices and systems he consults with as well as to discuss lessons learned from decades as a physician.

After hanging out his shingle in a small town on the Pickney Bend of the Missouri River in 1994, our next guest and his partners leveraged one of the country’s first total-risk Medicare Advantage contracts into a regional health system which they eventually sold for $132m. After four years as an employed physician, he transitioned into a second career of helping patients by helping clinicians improve their personal and profession lives.

Please help me welcome Tom Davis MD FAAFP

In this podcast, you will discover...

How Dr. Davis got started in medicine

What the transition was like in hanging in shingle to becoming a multi-physician practice to the acquisition by a hospital system

What Dr. Davis would suggest to physicians today

How he celebrated the big pay day and what he thinks of financial freedom today!

Resources Mentioned in This Podcast

WoW Health Solutions

For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com

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Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.

The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.

Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

In part two of this interview with Dr. Peter Kim, you will discover:

How his frustration with real estate led to a side hustle

How he is monetizing the side hustle without physicians paying out of pocket for his services

The nonprofit that is close to his heart & why he is donating to this cause

How he found the time & passion outside of medicine & why he found more focus

Why he thinks entrepreneurship isn't a special characteristic trait & why he thinks any physicians can do it

Learn how he is reducing his clinical hours & his plan for the future

Discover the role of real estate in his portfolio & his goals

Click here to discover all the resources, show notes, and mentions from this podcast episode.

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Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.

The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.

Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

Every so often, I like to let you know about an interesting, helpful book I read. The most recent one is a 650-page behemoth focused on health, wealth, and wisdom.

I pounded all the way through it- read every single page- all 650 of them.

It features all-stars, movie stars, billionaires, millionaires, and a whole bunch of other people I never heard of.

There are some things I really didn't like, but there are also some super awesome pearls of wisdom.

It is written by none other than Tim Ferriss.

Find out what I said in the podcast.

In this podcast, you will...

• Discover the section of the book that I really didn't like and thought was kind of weird
• How I was challenged in one area of my health (Hint: This doesn't involve food or exercise)
• Learn about the mindset tools that I am personally using and some others that I will use in the future, including a meditation podcast that I listen to regularly
• Discover the 'Jar of Awesome' and how I want to use it for my family & I
• Learn what my two favorite interviews were within the book and what I gained out of them

Resources Mentioned In This Podcast

The 4 Hour Work Week

The 4 Hour Body

Tim Ferriss' Podcast

Tools of the Titans

Headspace App

Sam Harris' Guided Meditation

Tara Brach Guided Meditation

Meditation Minis with Chel Hamilton

Tim Ferriss Interview with Arnold Schwarzenegger

Tim Ferriss Interview with Tony Robbins

Tony Robbins Podcast

Jim Dahle's White Coat Investor Blog

Damion Lupo- Get Dirty

For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com

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Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.

The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.

Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.

Discover the love story that David and Cyrena Denniston have shared together the past 15 years. They met in college and have moved halfway across the country to start Dave's career. They have faced many obstacles along the way are able to come out stronger than ever before.

 

 

Physicians have made huge impacts on their lives and their family more than once or twice. Both of their daughters and Cyrena have had medical issues that have required a lot of time in hospitals. 

The Denniston's share their story and the resources they have used throughout there marriage.

 

In this podcast you will:

• Discover the story of how Dave and Cyrena met and fell in love.
• Learn the story of the birth of their first daughter, Gabby.
• Find out what it was that led them to move to Minnesota and start a new venture.
• Acquire some of the challenges they faced professionally and within their marriage.
• Learn Cyrena's view on Dave's side hustles and how he/they balance work and family.

For all the show notes, transcription and more, check out the podcast website at http://doctorfreedompodcast.com/

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Investment advice is only offered in jurisdictions where Centurion Financial Strategies, LLC (“Centurion”) is appropriately registered or exempt from registration. Our Form ADV Part 2 brochure can be obtained free of charge at https://adviserinfo.sec.gov by searching for our firm by name or its unique CRD number (316454). This podcast is not a solicitation to provide advisory services in any jurisdiction in which we are not appropriately registered or excluded from registration.

The information, statements, and opinions contained in this podcast have been obtained from or are based upon information obtained from sources which we believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of any such information. This podcast is intended for informational purposes only and should not be construed as personalized investment, tax, or legal advice. Opinions expressed by any guest are their own opinions and do not necessarily reflect the firm’s views. You should carefully consider your unique financial circumstances and needs prior to making any investment in securities or purchasing any insurance products. Past performance is not indicative of future results. Investing in securities involves the risk of loss.

Insurance products are backed by the financial strength and claims-paying ability of the issuing insurance company and may be subject to restrictions, limitations, and early withdrawal fees which vary by issuer. You should consider the charges, risks, expenses, and investment objectives of any insurance products before entering a contract.