S3, Episode 20- Cory Fawcett, MD- Stop Digging! [Cory Fawcett Blog, The Doctor’s Guide to Debt]

June 9, 2017

In this episode with Cory Fawcett, MD... 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 is a man on a mission; to teach doctors how they can live healthy, happy, and debt-free lives–to regain control of their practice, their time, and their finances. He is making an effort to improve the lives of his colleagues.

His first book, The Doctors Guide to Starting Your Practice Right, is all about this mission. Helping doctors find their dream practice and get off on the right foot. His mission continues with the release of his second book, The Doctors Guide to Eliminating Debt.

The lack of surgeons in rural areas and his desire to work less led him to the decision to retire from his twenty-year practice, in a town with ten general surgeons, and assist in underserved areas. In February 2014 he began working part-time in rural Oregon towns with only one or two surgeons. With just one surgeon in town, the call burden of 24/7 availability is unsustainable. Dr. Fawcett provides them with a needed break from their pager, helping to keep rural surgeons healthy.

I can’t wait to hear about this journey!

Please help me welcome Dr. Cory Fawcett. Welcome Cory!

In this podcast, you will...

  • Discover why his parents didn't talk about money, but yet had an influence on being debt free
  • Learn how his grandparents inspired him to invest in real estate & the journey they had with debt
  • How he automated the process of real estate investing and managed 64 units while being a full-time practicing physician
  • Why he decided to turn over the properties to a property manager
  • The downfalls of property management (Hint: There's some activities that they can't do! Discover which ones inflated his costs)
  • Discover why he doesn't think residents should NOT get in real estate and rent instead & why he believes they will lose money
  • How he purchased properties with no money down and what he would do if he started all over again as a resident with $300k of student debt
  • Learn about the biggest financial mistake he made and how a real estate agent talked him into it
  • What he does with 'penciling it in' and how he makes good decisions about real estate that cash flows

Resources Mentioned In This Podcast

Cory Fawcett's Website and Blog

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The Doctors Guide to Eliminating Debt

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The Doctors Guide to Starting Your Practice Right

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S3, Episode 19- Mark Podolsky- How to Be A Land Geek [The Art of Passive Income and The Land Geek Podcast]

June 2, 2017

Earlier this year, I made a promise to you. I promised I would get more folks and more experts to talk about real estate and their experiences in it.

Our next guest was armed with only $3,000, gut-wrenching fear, and absolutely no real estate experience… he bought his first few parcels of raw land in 2001.

Today Mark is the owner of Frontier Properties, a very reputable and successful land investing company, and has been buying and selling land full time since 2001. By focusing on working smart, not hard, he has completed over 5,000 land deals.

Prior to his land investing success, he had a high-stress, soulless corporate job, and felt trapped & burned out.

Our next guest’s success in land investing to teach, coach and mentor others to help them achieve their financial goals and probably for himself to make some money along the way too.

Please help me welcome Mark Podolsky, The Land Geek.

In this podcast episode, you will...

  • Discover how he moved from a soulless corporate job to his entrepreneurial journey that he loves
  • Learn why he flips raw land
  • Discover the tax consequences of his flipping and how owner financing is involved (Hint: There's a downside involving depreciation)
  • Learn about the difference between tax lien and tax deed (& the hybrid method)
  • Why owner financing is an amazing to generate cash flow
  • Learn who the best buyers are for your land that you want to flip (Hint: Your back-up is a 'little' website you may not have heard of before)

Resources Mentioned in This Podcast

The Land Geek.com

The Art of Passive Income Podcast

The Land Geek Podcast

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S3, Episode 18- Heidi Moawad- Careers Beyond Clinical Medicine

May 26, 2017

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 is a neurologist and is a graduate of Case Western Reserve University School of Medicine, and completed neurology residency training at The University of Chicago Hospital.

She is an adjunct professor at John Carroll University in Cleveland, OH, and is a featured medical writer for a number of websites, including nonclinicaldoctors.com, Verywell.com, Neurology Times, and Physician Money Digest. Dr. Moawad is the author of Careers Beyond Clinical Medicine, an Oxford University Press publication

I can’t wait to hear about her journey!

Please help me welcome Dr. Heidi Moawad.

In this podcast, you will...

  • Why she became a physician (Hint: It's a family thing)
  • Discover what inspired her to write a book about the life beyond clinical medicine
  • Learn how being in an immigrant family influenced her perception of money
  • What is the advice she would give to her younger self (Hint: this has to do with her decision with what happened right after residency)
  • Discover the costly mistake with negotiation and tail insurance that she made
  • Why she doesn't think of medicine as an honest profession even though she wants it to be
  • Learn what financial freedom means to her
  • How she got started in her writing career and started to get paid

 

Resources Mentioned In This Podcast

Careers Beyond Clinical Medicine Book

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Non-Clinical Doctors Website

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S3, Episode 17- Tools of The Titans- A Review

May 5, 2017

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

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The 4 Hour Body

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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

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S3, Episode 16- Are You Batman or Superman?

May 2, 2017

Whether you are dark and brooding or you are a scion of justice with a S on your chest, I would put most physicians into one of two categories.

Either… you are a Superman or Batman.

What do I mean by that?

Certainly, there are Wonder Women and Green Lanterns. I know our Marvel Fans are hating me right now because of course there are grizzled Wolverines, weather changing Storms, powerful Captain Marvels, high flying Tony Starks, righteous Captain Americas, and your friendly neighborhood Spidermen.

However, for the purpose of this discussion- humor me here- as a physician either you are Superman or Batman.

Let me explain more.

In this podcast, you will...

  • Discover Why I think Every Physician Is Either a Batman or a Superman
  • How The Role of Money Shaped Superheroes and May Shape You As Well
  • Learn the 3 Books that All Superman Physicians Should Read
  • Why Superman Physicians May Have a Kryptonite. Learn What It Is.
  • Discover The Awesome Resources That I Recommend for Batman Physicians

Resources Mentioned In This Podcast

The 4 Hour Workweek by Tim Ferriss

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The Millionaire Mind by Thomas Stanley

I Will Teach You to Be Rich by Ramit Sethi

Docs Outside the Box with Nii Darko (favorite episode- all of them!)

The Tony Robbins Podcast (the 2 part interview with John Wooden is amazing!)

The 21 Irrefutable Laws of Leadership by John Maxwell

Stop Physician Burnout by Dike Drummond

Thinking, Fast and Slow by Daniel Kahnemann

What Great Bosses Know Podcast

Planet Money Podcast

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

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S3, Episode 15- [Physician Fireside Chat] Marion Mass- Part 2- Raging Against The Machine

April 28, 2017

Welcome back to part 2 of The Physician Fireside Chat with Dr. Marion Mass!

In part two of this podcast, you will discover...

  • How the Practicing Physicians of America was formed
  • Learn about why a tragic experience with her mom caused her to question the system
  • Hear how I challenge Marion on working to change the system
  • Discover her perspective on the AMA & the conflicts of interest she found
  • How the PPA is trying to change recertification

Resources Mentioned In This Podcast

Marion's Profile on LinkedIn

E-Mail: marion@practicingphysician.org

Practicing Physicians of America's Webpage

Facebook Page: Practicing Physicians of America

Open Secret's Website- Tracking the Political Contributions

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S3, Episode 14- [Physician Fireside Chat]- Dr. Marion Mass- Part One- 3 Reasons Why Family & Medicine Mix (and also Cow Manure)

April 25, 2017

My name is Dave Denniston, your host. 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 is a physician and is more involved in advocacy for physicians and about 1,000 other activities more so than any other person I’ve ever seen.

To give you a small sample- she is a pediatrician at the children’s hospital of Philadelphia, she is a board member of physicians working together, she is on the editorial board of the Doylestown Intelligencier, and she is the co-founder and executive VP of The Practicing Physicians of America.

I can’t wait to hear about her journey!

Please help me welcome Dr. Marion Mass.

In this part one of this podcast, you will discover...

  • Why a 'farm girl' raised around Mennonites believes that manure shoveling helps you in life
  • Where she believes common sense can come from & how it applies to parents
  • How slaughtering pigs and a female doctor influenced her to enter into medicine
  • Discover how she lived on $9,000 a year and saved $2,000 a year during medical school
  • Learn about the emotional moment she changed directions in her medical career & abandoned her fellowship
  • Discover her time hacks to save money and spend time with the family

 

Resources Mentioned In This Podcast

Marion's Profile on LinkedIn

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S3, Episode 13- Damion Lupo- Get Dirty [Total Control Financial & Black Belt Wealth]

April 21, 2017

As various folks follow Robert Kiyosaki and the rich dad, poor dad books and seminars, many folks become interested in investing in things outside of the norm.

So, we’re going to spend some time digging into that.

Our next guest is a lifelong entrepreneur. He started his first business at age 11! Now he is the owner of an 8 figure real estate empire, multiple black belter, and sought after financial consultant.

What is interesting about him is that he built a 5 million dollar Net Worth in his 20's, lost it, and I am told has almost completely rebuilt his wealth in the last 12 months!

He particularly enjoys sharing the lessons he learned- and the things he wishes someone had told him before he got started.

Please help me welcome Damion Lupo of Total Control Financial.

In this podcast, you will…

  • Discover how this business owner went from broke to rich to broke to rich again
  • How his first business venture as a kid set him up for real estate (Hint: It has to do with video games)
  • Learn about the difference between wholesale and retail and how it impacts the way you buy and sell real estate
  • Discover how he used owner financing when he was broke to find his first real estate investment (This is really interesting, he helped bail out someone who was about to be foreclosed on)
  • How his leverage and impatience and lifestyle killed his net worth
  • Learn the lesson he discovered about the circle of people around him & how it effected his wealth
  • Join us in an interesting conversation of when you should use leverage and when you should get rid of the leverage
  • How his mission incorporates into his definition of financial freedom and how he is tracking it

Resources Mentioned In This Podcast

Rich Dad, Poor Dad by Robert Kiyosaki

Get A Free Copy of Damion's Book by Clicking here: www.totalcontrolfinancial.com/dave

Linked In- Damion Lupo

Black Belt Wealth Podcast

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S3, Episode 12- What I Learned from My Mistakes

March 17, 2017

I'm at this point where I'm hungry for more. I'm not satisfied with where I am not. I want to get to financial freedom even quicker than my current pace.

However, the last time I felt this kind of hunger- I made a huge mistake.

It was my $1,000,000 mistake.

Here we are with the economy humming- real estate has bounced back- and I'm sure that there are opportunities available out there.

I wasn't sure of what I wanted to do, until recently...

Image courtesy of FreeDigitalPhotos.net

In this podcast, you will discover...

  • How I think about the difference between wealth building and wealth creation
  • Learn what I am doing to position myself for wealth creation in 2017
  • Discover how I am setting up the next deal so that I don't make the same mistake twice
  • How I was inspired by my friend Amanda Liu to search and find a way to get a negative interest rate on my next investment

Resources Mentioned In This Podcast

EmpireFlippers.com

DrWiseMoney- How I Paid Off My Student Debt by 30

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S3, Episode 11- My Faith & My Finances

March 10, 2017

How much do you give to others? An even better question might be- how much should you give to others?

Should we stay focused solely on our retirement? Should we pay for our kids education?

These are tough questions my friends.

 

We are each brought up differently with an assortment of values and certainly these values guide and direct our thoughts.

This is through the lens of my world view. I’m going to get raw and real about what happens in our house.

Many folks say that you shouldn't talk about politics or religion. You know what? Forget that!

This topic is very, very important and it is worth a discussion because it does impact our finances.

In this podcast, you will...

  • Learn how I think of giving
  • Discover the commitment that my wife and I have to giving (and the consequences of that decision)
  • Learn about the tension that giving is leading to in our marriage
  • What you should consider when you think of giving
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