S3, Episode 9- Jake Conway- Top 3 Business Mistakes Doctors & Dentists Make In Their Practice [Dentalpreneur Podcast]

February 24, 2017

For all the show notes and tons of resources, make sure to visit the podcast website at www.doctorfreedompodcast.com 

If you own a private practice or hope to own one day, I’m guessing you’ve heard about the equity that you can build.

After all, it’s another asset. And it can be worth a TON of money with all the sweat, blood, and tears that you put into it. But how can you gain the most out of this asset?

If you have been grappling with these kinds of questions or if you are simply curious about them, you are going to love our next guest.

Our next guest’s expertise lies in the area of valuation. I first heard him on the Dental Preneuer podcast. He was talking about some of the common mistakes that dentists make and I was nodding my head and saying YES outloud. It was such good stuff, I wanted to make sure to invite him onto this podcast.

I know we’re going to learn a ton today.

Please help me welcome Jake Conway

In this podcast, you will...

  • Discover the Top 3 Financial Mistakes Dentists Make In Their Practices (and maybe you are too!)
  • Learn where you might want to negotitate & snag low hanging fruit
  • Discover the numbers & formulas that lead to success (Hint: It involves a 30/30/30/10 rule)
  • Learn the hack around costly supplies that they use to negotiate
  • How the trade-off between being an employee and employer can be a huge opportunity cost worth considering
  • and much more!

Resources Mentioned In This Podcast:

The Dentalpreneur Podcast on Itunes

Connect with Jake Conway on LinkedIn


S3, Episode 8- 7 Signs You May Exhibit Cognitive Dissonance

February 17, 2017

For the show notes, free stuff, and tons of resources, check out www.doctorfreedompodcast.com 

Have you ever been struggling inside your mind? Have you been dealing with conflicting thoughts?

Like you know in your heart you should follow one particular path, but then you see some new info that pulls you in another direction and you make a different choice that you didn’t intend on making.

You convince yourself that it was the right choice. You reason, it’s okay- it’s what a reasonable doctor would do. Yet, in your heart of hearts, you question the decision.

This my friends is the soul of cognitive dissonance. It can be really hard to detect and all of us will do it from time to time.

In this podcast, you will...

  • Learn what cognitive dissonance is
  • Discover the 7 signs that you may be exhibiting cognitive dissonance
  • How you may be exhibiting cognitive dissonance when you do this upgrade (Hint: It may involve a certain famous fruit)
  • Learn about the most famous story of cognitive dissonance and how it may apply to you
  • Discover how you can overcome cognitive dissonance


The Transcript & Show Notes Page on www.DoctorFreedomPodcast.com

Dink's Finance Article


Cognitive Dissonance and Mutual Fund Investors Article

Investopedia's Definition of Cognitive Dissonance

Very Well's Article of Cognitive Dissonance


Minisode- February Q&A

February 13, 2017

In this exclusive content just for podcast listeners, I am answering Ashton's questions.

Ashton asked, "Any different financial advice for surgical versus non-surgical specialties and/or if you are (or are planning on) working for a private practice/large group versus being a hospital employee after residency?

One specific question is, 'does it still make sense to enroll in an IBR plan for my student loans if I won't be working for a non-profit after residency completion?'

Do you have any tips for balancing the grind of financial responsibility with having a little fun (or do us Millennials just need to build up our mental toughness)?

Discover my answers to these questions in this episode!

Have questions you would like to be answered? E-mail me now at dave@doctorfreedompodcast.com and maybe I will answer them in the next Freedom Formula for Physicians Q&A.


S3, Episode 7- [Physician Fireside Chat with Dr. John McBurney]- Part 2- How He Is Starting His Ideal Medical Practice

February 10, 2017

This episode continues the journey of Dr. John McBurney. Make sure to check out part one from last week or check out the entire podcast by clicking here!

In this fireside chat, we uncover his financial choices and decisions. His vices and his greatest decisions and the advice he would give to a younger John.


In this podcast you will..

- Discover his guilty pleasure of cars and what that meant to their retirement (Hint: He wasn't a popular guy at home for a time)
- How he simplified his finances to set himself up for retire
- What kind of corporation he is using for locums
- Learn what he promised his kids financially
- What kind of practice he will be establishing and the model he is following (Hint: It involves a past podcast guest)
- Discover how he is going to work with chiropractors, energy healers, and how a wellness center factors into that
- Learn how he is using locums as a bridge between his last job and his ideal clinic
- Why john's situation is significantly different than the normal ideal medical practice that others are setting up and what he is doing to set it up for success
- Discover john's advice to his younger self (Hint: it involves a curve) and what he would avoid 
- Learn the stupid mistake that he thinks many practice owners make for the sake of reducing taxes
- How the combination of charting and locums leads to more money
For all the resources, show notes, and tons of free stuff visit the podcast website at www.doctorfreedompodcast.com

S3, Episode 6- [Physician Fireside Chat] John McBurney- Part 1- Lure of Too Good To Be True

February 3, 2017

In another fireside chat, I connected with Dr. John McBurney on LinkedIn. He and I spent over 1.5 hours talking about his journey and the wisdom he would impart to other doctors. 

For all the show notes, free resources, and to connect personally with me, visit the podcast website at www.doctorfreedompodcast.com

This podcast is dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle.

Dr. McBurney is a neurologist who started with the military, moved to private practice working under other physician owners, and now today is doing locums full time while he is establishing his own private practice.


In part one of this interview, you will:

- Discover how a small town boy came to see physicians as the role models he wanted to emulate

- Learn how he came out with almost no student debt and how he feels student debt today is a trap
- Why money wasn't something he developed a significant relationship with when he grew up
- How being in the army helped him to keep his finances under control
- Why he decided on the military option
- Discover how he made great money as an intern
- How buying and selling real estate hurt his financial future
- Learn how the decision of '20' played into his decision of going into private practice eventually
- Why he prefers being a military doc to 'abusive' private practice medicine
- Hear the story of how he witnessed medicare fraud and why he had to testify against a former colleague
- Who the person who gave him the best financial advice (Hint: It was someone really close to him that wasn't his parents)
- How a hairdresser had an estate over $1 million




Minisode- 3 Killer Financial Strategies & More

February 1, 2017

Check out the links below to go right to the articles mentioned in the podcast.

I'm not sure if you noticed, but the last few months- I've had the honor of being the guest of several incredible bloggers and physician thought leaders.

Due to giving them exclusive content/access, you will not have seen several of these articles on the podcast website. Many of these are very personal stories and hopefully give you a laugh, a snicker, or maybe even a giggle.

Most importantly, hopefully you learn something new or are forced to ponder a new idea.

FutureProofMD- The First Deadly Financial Sin of Residents & Fellows

White Coat Investor- 7 Irrefutable Principles of White Coat Millionaires (or should I say Multi-Millionaires?)

Passive Income MD- 3 Critical Lessons from My Adventures In Real Estate





S3, Episode- 5- Alan Pitt- Part 2- How To Create Opportunities Outside of Clinical Medicine (Healthcare Pittstop Podcast)

January 28, 2017

Welcome back to part two of the physician fireside chat with Dr. Alan Pitt.

In the second half of this podcast, you will...

- Learn from a physician with the mission to transform healthcare from something both patients and physicians are dissatisfied with
- Discover the advice he would give his young self
- How he sees the unique opportunity once one is in the healthcare field (entry can be difficult)
- Learn about his Health care pit stop podcast
- Why he listens to advice from experts about his money

Resources Mentioned In This Podcast:

The Healthcare Pittstop Podcast

The Healthcare Pittstop Podcast On Itunes

Sr. Margaret McBride Views on End Of Life

Alan's E-Mail



S3, Episode- 5- Alan Pitt- Part 1- His Family Business of Medicine (Healthcare Pittstop Podcast)

January 27, 2017

My name is Dave Denniston, your host. Welcome back to the latest episode of The Freedom Formula for Physicians Podcast. I split this conversation into two parts- this is part one.

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.

Our next guest is a physician and a fellow podcaster and a blogger. He said that, “I’ve lived my life in healthcare. I grew up in a medical household, and later got an M.D. Now, in mid-life, I am saddened and dismayed. America is the wealthiest country in the world, yet we often bankrupt our citizens when they become ill. We cure what seems incurable, but then abandon the many others. Care is often replaced by technology.”

He is now on a mission from his content to bring together the places, the people, and the systems that define this care and to have heart-to-heart conversations that can make changes in the system.

He is a Professor of Neuroradiology at the Barrow Neurological institute, a Chief Medical Officer at Avizia, a husband, and a father.

Please help me welcome Dr. Alan Pitt.

In this podcast, you will...

- Learn from a "family business" physician the change with digital economy healthcare.
- Discover why he feels medicine was a secure profession, but isn't now
- How he advises young physicians who have six figures in student debt
- Learn his one suggestion to keep low costs up front 
- Why he suggested to his daughter not to go to medical school (Hint: She didn't listen. Find out why

S3, Episode 4- Why I Won’t Retire by 45 (Case Study)

January 20, 2017

In our last podcast episode, we examined the case study of PhysicianOnFire and how he will retire by 45.

However, for many of us, that simply isn’t a reality. Retiring by 45? You might think this is impossible. You might even think that is crazy. Maybe you are looking at retiring at 50, 55, 60, 65, or even 70 years old.

Maybe that’s frightening and scary for you. Guess what? You’re not alone. I’m there too. I can’t retire by 45. It’ll probably be 60 or 65.

Let me explain more.

In this podcast, you will discover...

  • My Biggest Investment Mistake (Hint: It wasn't a stock, bond, mutual fund, or other security)
  • 5 Reasons Why I Won't Retire at 45
  • The 11 Assumptions That I am Making For My Retirement
  • How Equity In My Practice Will Impact My Assumptions

For the whole podcast, show notes, and loads of free resources, check out the podcast website at www.doctorfreedompodcast.com


S3, Episode 3- How This Doctor Can Retire by 45 (Case Study)

January 13, 2017

For all the show notes, resources, and loads of free stuff, check out the podcast website at www.doctorfreedompodcast.com


This month, I am sharing a case study or two of physicians that can and will retire before 45 and why many of us (including me) won’t retire until well after 45.

The first person I thought of is my frequent email correspondent and fellow northerner PhysicianOnFire.

He has an incredible blog dedicated to FIRE- Financial Independence Retire Early.

I read at least one of his blog posts every couple of weeks and share them freely on social media.

While he’s never revealed the Clark Kent behind his Superman identity nor the Physician behind the Fire, we can learn a ton from him.


In this podcast, you will discover...


- 5 Lessons on Retiring Early from PhysicianOnFire


- Learn the sacrifices he made with time and money to get to this point (& how you can too)


- Discover the bonus lesson that I think has made all this possible and the additional podcast that you need to listen to (Hint: It has to do with a ring)


- What 10 financial habits he exercised and helped him grow his financial muscles


- Discover the numbers that reveal why he could retire by age 45