S4, Episode 15-Dollars and Sense- A Book Review

April 6, 2018

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. 

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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/

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S4 Episode 14-How the New Tax Reform Impacts You-Part 6-Small Business Owner, S Corps or Sole Proprietorship

March 30, 2018

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 website
www.doctorfreedompodcast.com.

Remember, make sure to slash your debt, slash your taxes, and live a liberated lifestyle.

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S4 Episode 13-Home Buying and Interest Rate Update With Josh Mettle of Physician Financial Success

March 23, 2018

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 website
www.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.

 

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S4 Episode 12-”Taking Wise and Necessary Risks”-Enjoying Life with David Stein from Money for the Rest of Us

March 16, 2018

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 website
www.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.

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S4 Episode 11-How the Tax Reform Impacts You-Part 5-Residents and Fellows

March 9, 2018

Hello my friends, 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.  

I am excited for the start of the year here, as we are well on our way into 2018.  I would like to ask a favor-could you take 5 minutes or less to rate and review the podcast on iTunes?   I'd like to give some listener love to a few people who have recently received the podcast:

Todd, KS (paraphrased)-I came across this podcast in early 2017, and it has been a wonderful addition to my morning routine and commute.  Dave has great guests on and gets right to their personal stories. These stories include financial struggles and pearls of wisdom-an enjoyable listen. Highly recommended!

Dr. Mike WM-An excellent podcast for physician's-young and old.  As doctors, we get zero business education in medical school, and Dave gives practical advice to help us on our financial journeys. Highly recommended!

There have been some BIG changes with taxes, and I've had a huge focus on addressing these changes between 2017 and 2018!  And as a friendly reminder, you can text LESSTAXES to 44222, and that will give you all kinds of information with the tables I've been going over and possibly help you to apply for your specific situation.

In this podcast you will:

  • Learn how itemizing is a much more difficult barrier for residents and fellows to get over
  • Discover the difference of tax savings between being single and being married

If you think you may be paying more taxes than the numbers I've crunched, I'd love to hear from you and look over those numbers with you to see if I might be off on your calculations or if you might off on your calculations.  Also remember, you can e-mail me at dave@doctorfreedompodcast.com.

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S4 Episode 10-Med School, Residency, Loans-”OH MY”!-Navigating the course of Medical School Debt with Travis Hornsby

March 2, 2018

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.  And today we're focusing on the debt side of that equation.  

Our next guest founded Student Loan Planner after helping his physician now wife, now wife navigate ridiculously complex student loan repayments following med school.  To date, he has personally consulted on over $200 million in student debt, personally more than anyone else in the country.  And this is a guy after my heart own heart-he is an Eagle Scout, a CFA (chartered financial analyst, he used to do a bunch of trading back in the day.  Now, his focus is on student load debt payment.  Please help me welcome Travis Hornsby.
 
 
In this podcast you will:
 
  • Learn how to make a strategic plan when graduating from med school with significant debt
  • Get an inside look at Public Service Loan Forgiveness (PSLF) and how and when to apply
  • Discover how Travis and his wife Christine navigated through the FFEL (Federal Family Education Loan) program
  • Why you shouldn't consolidate all your loans at END of your residency
  • Learn about the Direct Loan Program
  • Why refinancing may be the best option to repay your student loans during residency

Resources mentioned in this podcast:

Contact Travis directly at travis@studentloanplanner.com

Student Loan Planner

 "To learn more about Student Loan Planner's services, see if a student loan consultant is right for you.
 
If you're confident you want to pay back your med school loans as fast as possible, check out these cash back bonuses for refinancing student loans."
 

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.

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.

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S4, Episode 9-How The New Tax Packages Effects You- Part 4- With Kids and High Earners

February 23, 2018

There have been some BIG changes lately with taxes and they are likely to impact you in a big way!

You may have heard of the tax reform package, called appropriately, The Tax Cut & Reform Bill.

However, it may not be a win for everyone. Listen to this podcast and discover why.

In this podcast you will:

  • Learn how to qualify for the 2018 child tax credit under the new tax reform bill.
  • Discover the difference in taxes for high earners, 600K or above with a mortgage and children.
  • In 2018 high earners have a max out amount of their total deductions.
  • What will happen if you have no state income tax? What states would you benefit more by paying no state income tax?

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

                                                       

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S4, Episode 8-[Physician Fireside Chat] Doctorpreneur, Survivor, Physician Edna Ma [ednama.com]

February 16, 2018

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:

  • Learn Edna's different views on debt from residency to now.
  • Discover her influences on money and how her unique childhood affects how she handles money today.
  • Acquire her view on what financial freedom is to her and her family.
  • Learn how creatively juggled her anesthesiology career and her side hustle.
  • Find out why she calls her Survivor experience "creative financing!"(HINT: You won't believe this story)

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

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S4, Episode 7-Tax Reform Questions Answered with CPA Craig Cody [Craig Cody and Company]

February 9, 2018

We’ve been talking a ton this year about the tax reform package and I thought it was time to bring back our most popular guest of the last year.

He is a Certified Tax Coach, CPA, Business Owner and Former New York City Police Officer with 17 year's experience on the force.

He was my guest on Season 3, Episode 9 The 3 Awesome Tax Deductions I Didn't Know.

I know we’re going to learn a ton today as we dive into the changes and how that impacts us.

Please help me welcome back Craig Cody!

In this podcast you will:

  • Learn the changes with the child tax credit and the standard deductions, how will they benefit you?
  • Discover what the section 199 deduction is and what professions would qualify.
  • Acquire the difference in W-2 income versus pass-through income.
  • Gain knowledge on filing your taxes if you are an owner of multiple businesses; are separate tax returns the best way to save in taxes?

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

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S4, Episode 6-The Secrets of Tax Lien Investing Revealed with Joanne Musa from The Tax Lien Lady

February 2, 2018

The last year we’ve spent a lot of time talking about real estate. But maybe you just don’t have the interest. You may want to get a higher return on your money than you can in money market account or bank CD, but you don’t want to risk your savings in speculative investments and you don’t have time for real estate investing.

You want to do something with your money but you don’t know what, so it’s just sitting in a non-performing bank account making next to nothing. Or maybe you have invested in speculation and lost some of your retirement funds. That's the bad news.

But what if there was a way you could invest your money for high returns without shelling out a huge percentage of interest earned for fees, and you could do it without undue risk and without tenants, toilets, termites, or negotiating deals? Here’s the good news! There is a way for you to invest your money safely for high returns... and our next guest will show us how.

In the last 10 years, she has been known online as The Tax Lien Lady, has helped thousands of investors around the world to buy profitable tax liens and tax deeds with her step-by-step system.

The Tax Lien Lady

Best of all, her easy-to-implement training programs have now helped people from all walks of life take control of their financial situation and their retirement.

Fasten your seatbelt because you are about to learn how to use a strategy for investing that has been carefully guarded by wealthy investors for decades!

Please help me welcome Joanne Musa, the Tax Lien Lady. Welcome, Joanne!

 

In this podcast you will:

  • Discover how Joanne got into investing in tax lien properties and why she dove into real estate investing.
  • Learn the many differences in rules and procedures from state to state and county to county.
  • Discover the difference between a tax lien purchase and a tax deed purchase.
  • Collect the different ways that you can acquire tax lien properties and the different ways to increase your profits.

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

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