Episodes
Friday Nov 26, 2021
S6, Episode 13 - My Faith and Finances- Part 2
Friday Nov 26, 2021
Friday Nov 26, 2021
I know we have talked about a lot of educational topics lately, but today a want you, guys to know me better. As much as possible you to feel that I am your friend who wants you to do better and improve in life.
So, today’s episode is a little bit personal show. I just want to speak from the heart and I want to get this opportunity to express my gratitude for your support — you guys are awesome! Since day 1 you have been there and I couldn't have pulled this off without y’all.
In this episode, you will…
- Reminisce about my past situation with my family
- Talked about my faith
- My insight about my Finance and Money
- Do I love money?
- How do we leave an impact on this world?
- Context of Deuteronomy 8
- How do we navigate wealth? So that we don’t forget where we came from?
- Could I retire by 45?
Resources Mentioned In This Episode
Book
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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Friday Nov 19, 2021
S6, Episode 12 - What Is The 3 Percent Rule?
Friday Nov 19, 2021
Friday Nov 19, 2021
“Retirement is the only time in your life when time no longer equals money.” this is a saying that I’ve read before — as I’m sharing it with you today to be inspired and to keep you motivated from grinding, learning to invest, and growing your business even more.
Perhaps, you are worried about the future and asking questions to yourself if “Can I retire at the age of 45, 50, or 60?” or “is my investment enough for me and my family’s expenses?”
So, I’ll be answering your thoughts by making you understand the rule of thumb which can help you today and for your future.
In this episode, you will…
- Know more about the 3% rule
- What does it take to retire?
- Understand how to outlive your assets
- What if you earn more than 3%?
- Pencil out your expenses
The best part of retirement is time with your family and grandchildren.
If you have more questions about this you can email me at dave@doctorfreedompodcast.com
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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Friday Nov 12, 2021
S6, Episode 11 - What is an ARM?
Friday Nov 12, 2021
Friday Nov 12, 2021
So, today’s topic is very informative and beneficial, particularly for people in real estate and finance. Some of you might know about this topic, but give it a try to listen again so you can refresh your knowledge.
In this podcast, you will…
- Talked about what is an ARM? (Tips: this is very educational for you )
- How does an ARM work?
- Pros and Cons of ARM
- Adjustable-rate mortgages Vs. fixed-rate mortgages
- Learn more about loans and interest
- Different kinds of ARM
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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Friday Nov 05, 2021
S6, Episode 10 - How to manage online reputation with EmpathIQ
Friday Nov 05, 2021
Friday Nov 05, 2021
Good to see you here at Freedom Formula for Physician Podcast!
Just a few months before 2021 will ends. Time goes by too fast.
We have to be productive, maximize our time, and enjoy the few months of 2021 with our family and friends.
So, I would like to introduce you to someone that can help you lessen your time out of your desk.
They Provide Healthcare Reputation Management for individual providers, hospitals, and healthcare organizations.
Technology has given healthcare providers the ability to reach more new patients than EVER. 94% of patients choose positively rated doctors over similarly qualified doctors because of their online reviews.
I would like to present to you, Avalon Hartman with EMPHATHIQ.IO – a platform that increases your visibility online to make sure that NEW PATIENTS CAN FIND YOU and EXPERIENCE YOUR CARE.
A little insight about them
- Allows you to send a personalized link to your patient that directs them to the review sites that matter most to your practice.
- The reviews you receive from all online resources will be featured here in one easy-to-navigate page that will give new patients confidence in your services.
- Their listing connector puts in control of your data across 50+ directory sites to ensure patients can easily find you.
- Making it easier to get more online reviews with less effort
In this episode, you will…
- More details about EmpathIQ (Different Functionality)
- Be educated about managing your reputation online
- How to handle negative reviews
- Does EmpathIQ post multiple places?
- Keeping track of these kinds of things is hard, how do they do this?
- Listen to their ways to make people leave a review for you
- Learn more about what’s gonna happen when people give you a negative review.
- Insight about how many reviews can someone have?
Resources Mentioned In This Podcast
Contact number: 858-375-5686
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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Friday Oct 29, 2021
S6, Episode 9 - What is Cap Rate?
Friday Oct 29, 2021
Friday Oct 29, 2021
Welcome back to Freedom Formula for Physician Podcast.
I’m so proud of you that you have come to this episode.
If you have an interest in this Episode, you must also check Episodes 7 - “What is IRR” and Episode 8 “What is CAPM”
I appreciate you, guys for choosing us to grow yourself and be educated on this kind of topic.
In this podcast, you will…
- Educate yourself with Finance, Cap rate, and Real state
- Comparing asset vs another
- How to calculate Cap rate?
- The formula for Cap rate
- What’s the use of Cap rate?
Resources Mentioned In This Podcast
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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Friday Oct 22, 2021
S6, Episode 8 - What is CAPM?
Friday Oct 22, 2021
Friday Oct 22, 2021
Good to see you here again!
If you listen to our last episode about IRR, this new episode will teach you about CAPM which can help you with finance, business, and investment.
If you haven’t heard our last episode title “What is IRR?”
Check it out, because there’s a lot of lessons that you can learn in that episode.
In this episode, you will…
- Listen about what is CAPM?
- Learn about CAPM Formula
- Why should we use CAPM? What is it for?
- How can we apply it in Real states?
- Helps you determine about good investments or not?
- Learn about market risk
Resources Mentioned In This Episode:
Transcript
Hello, my friends and welcome back to another episode of the freedom formula for physicians podcast, a podcast dedicated to helping doctors like you slash your debt, slash your taxes, and live a liberated lifestyle. Well, today we are continuing this series of trying to teach you kind of the basic finance of understanding terms that I learned in business school that maybe you are not familiar with. And certainly if you've taken business classes in finance, specifically, you have heard of some of these concepts. But if you haven't, perhaps you have not heard some of these concepts.
So today, we are going to ask the question, what is CAPM, C-A-P-M, it’s the capital asset pricing model. Capital asset pricing model is basically trying to assess risk versus reward. And you can use CAPM for paper assets, you can use cap them for real estate, you know, there's all kinds of ways that you can measure it, CAPM is a very specific formula. So very specific formula. But it's pretty easy to understand this is not complicated.
Here's the formula, the risk-free rate plus beta, we'll talk about beta here in a moment. And we're multiplying beta times the expected rate of return minus the risk-free rate. So imagine, the right side of the equation is beta times expected rate of return minus risk-free rate, the left side of the equation being just risk-free rate. So we have to add up and multiply that right side of the equation before we can add the risk-free rate to it. So I hope that makes sense to you.
Investopedia has great information, I'm sure Wikipedia and all kinds of other places do too. So what is behind, this formula, what was behind the CAPM, and why we want to use it is because we want to evaluate the reasonableness of future expectations as to whether or not an investment might be a good one. We have this whole thing we grapple with, with so many different investment possibilities, we have to weigh the risk and reward of each one of them. And so there's this whole idea that markets are efficient. How can I explain that essentially, things are priced accurately. So that's one of the assumptions behind capital asset pricing model, that as you're taking more risk, that you should expect a higher and higher rate of return as your risk increases.
So in this formula, where we have the risk-free rate, plus beta times your expected rate of return minus the risk-free rate, let's break down each one of these components. And that's equal to CAPM, which is the expected return of the investment. So the risk-free rate, most people will measure the risk-free rate as being something that is extremely low on the risk scale. So for example, if you have a savings account or a money market account or something, something like that, you know, on a scale of one to 10, that's a one, you know, very, very, very low risk there. There's government insurance behind some of that stuff. So you could use a savings account or a money market rate or something like that as a risk-free rate of return.
A lot of people will generally look at treasury bonds as an example, as being a benchmark of a risk-free rate. So something that may That'd be the United States government might be another country that man, they have a sterling reputation, great cash flows, we know that they're going to pay, therefore it's risk-free, a risk-free rate. So typically, people might plug in 2% or 3%, somewhere in that range based on maybe a 10 year Treasury, or something like that as a benchmark.
So let's use 3% as an example. But you could use 2%. Because 1%, we can argue what that risk-free rate of return should be. So that's the first thing we add on the left side of the equation. Now we're going to use that same number on the right side of the equation for the risk-free rate as well, because we're going to subtract that, from our expected rate of return for an investment. The next number that we should probably talk about is the expected rate of return. And this is where there's, there's a lot of conjecture, and it can be hard to measure this because now you got to plug in an assumption. First, we assumed the risk-free rate. Now we got to plug in an assumption of what that expected rate of return might be.
So let's say, for real estate, for example, that we feel that 6% is a good solid historical rate of return, this investment might do better, I might do worse, but we feel an average this kind of investment might be a 6% rate of return. So now, let's use 6% minus the 3%. That gives us three, right? On the right side of the equation. Well, now we have the multiply that times the beta, what is beta is how does this potential investment measure up to how much risk this particular investment will compare to a larger portfolio of them like the whole market. So if we buy a million-dollar house, compared to a $200,000, starter home, there is a lot more risk in that million-dollar home compared to the average value, let's say is $200,000 and most houses, so your beta might be a two, twice as much risk versus the general market. So if we take that two, now that risk that we're taking, we're measuring the amount of risk that we're taking two times that difference, 6% minus 3%, that gives us 6%. Again, right, six minus three is equal to three, three times two, our beta gives us six. And now we have to add that to our risk-free rate 6% plus 3%, gives us nine 9%. Being the overall expected rate of return on this investment, which actually, I'm sorry, the expected rate of return in that formula is the expected rate of return for the market in general. So if the market is six for let's just say houses, then we subtract the three. And that gives us 3% is the expected return on the market now we're multiplying times beta for this specific investment. So the 9% total expected rate of return for the investment is like you're getting another 3% on top of the market at six. So it's telling us the expected rate of return for investment relative to the market relative to the risk-free rate. So essentially, as we compare for an efficient market, we should expect the more risk you're taking that beta number, the higher your rate of return, the lower the risk, the closer to the risk-free rate you get the lower your rate of return is going to be and again this is all assuming an efficient market well we all know sometimes things go crazy sometimes or not in an efficient And market at all, you know, you can take a look at March of last year during the pandemic. And in certain assets got creamed. Every asset got creamed for a brief time period doesn't matter what it was a paper asset, or real estate, or whatever, things got creamed for a short period of time.
So there's a lot to absorb here. A lot of assumptions that we make in terms of what they are. And ultimately, you know, what, what this should help you with is determining whether or not it's worth the risk to invest in an asset.
Last week, we talked about the internal rate of return, which is another way of measuring it, CAPM is helping us analyze, what's the market at what is the risk of this investment relative to other ones cuz remember, IRR wasn't telling us relative risk, CAPM now we bring that in. Now we can talk about relative risk on top of an IRR. So we can look at those things together. And we can run multiple scenarios in IRR. Look at CAPM could look at multiple scenarios and CAPM to determine does this looks like a good investment or not? So that's ultimately what we're trying to do, as we look at different degrees of risk different kinds of investments, and trying to figure out what is this all about.
So that basically is a very quick primer, my friends on this concept. I hope now if you ever hear it, you know you can talk about it somewhat intelligently. I made a mistake when I talked about the initially I forgot to mention that it was the market risk of that category, not that specific investment. So I make mistakes to myself, as I get passionate and talking about this. There's remember this term CAPM as a way of measuring risk relative to the risk-free rate relative to that same category of investments. And remember, all of this is based on assumptions and what your assumptions aren't. So the main lesson I can tell you from practical experience is using a variety of assumptions is the right way to go. And so my friends that wraps up another episode for today, I would love to hear from you on what are other finance topics. And as I look forward to the rest of this season, at season seven coming next year, I would love to know from you what are topics that we should tackle What are basic finance terms that you're like, what the heck is that? And what does that mean? I would love to hear from you to have a good idea of how I can better serve you in these podcast episodes. As you know doctors mean so much to me and my family want to do my part to contribute back to you guys and helping you understand everything here for the freedom formula for physicians podcast.
This is Dave Denniston, thank you again so much for listening, my friends, wish you and yours all the best. And remember, to slash your debt, slash your taxes and live a liberated lifestyle.
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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Friday Oct 15, 2021
S6, Episode 7 - What is IRR?
Friday Oct 15, 2021
Friday Oct 15, 2021
Good to see you again in Freedom Formula for Physician podcast!
During this pandemic, we are thinking about how to invest our money properly. We are all struggling during this time, so we must be wise about our money.
This episode will teach you about finance that you can use for your business and investment.
In this podcast, you will...
- Learn about IRR, Finance, and Investment
- Be knowledgeable about other business terms
- Learn more about cash flow
- Weaknesses in investing and how to deal with it
- Difference between IRR and ROI
- What is a good IRR?
Resources Mention In This Podcast
calculatorsite.com/finance/calculator/IRR-calculator.php
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
Read the rest of this entry »Friday Oct 08, 2021
S6, Episode 6 - Michael Neal - Build My Team
Friday Oct 08, 2021
Friday Oct 08, 2021
Welcome Back to Freedom Formula for Physician Podcast!
Today’s episode is really interesting. If you want to get some tips in the medical field or are interested in building your team in the future, then you have to check this out.
But first, I would like to introduce to you the founder of Build my team, an eye doctor and a gentleman who’s very dedicated to helping health professionals.
Let us welcome, Dr. Michael Neal. Welcome, Dr. Neal!
In this Podcast, you will…
- Discover more about Dr. Neal - (Captivating life stories)
- Why did he move from Canada to the US?
- How did he end up as an eye doctor?
- Why did they almost get a divorce during their practice?
- Listen to his adventure during his practice
- His nanny as a bookkeeper?
- Advice for people in medical fields
- How does he evaluate potential employers?
- Process and tests in hiring people
- Hints to have game changer to your life
Resources Mentioned In This Podcast
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
Read the rest of this entry »Friday Oct 01, 2021
S6, Episode 5 - Arya EHR - Richard Sztramko
Friday Oct 01, 2021
Friday Oct 01, 2021
Happy return to The freedom formula for Physician Podcast.
It’s the first month of October and a great time to start a routine to listen to our episode today.
Let’s start this episode by welcoming the Physician Co-Founder of Arya EHR.
Please help me welcome Rich Sztramko, Welcome Rich!
In this podcast, you will…
- Discover about the journey and struggle of Dr. Rich Sztramko
- Difference between US and Canadian medicine
- Dr. Rich story about growing up with his dad working as a fishery
- How did he come up going to medical school?
- Process of getting to medical school
- Shares about money lessons he learned along the way
- Canada Vs. US salary
- How hard would it be to get into medical school in Canada, if you’re from the US?
- How did his current venture of making an EMR come all about?
- His evolution from nothing to becoming a successful one
- Listen to his advice to other physicians that want to be entrepreneurs
- How does he balance being an entrepreneur and an employed physician?
- His insights about how would you know when you achieve financial freedom
Resources Mention In This Podcast:
https://www.linkedin.com/in/richardsztramko/
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
Read the rest of this entry »Friday Sep 24, 2021
Season 6, Episode 4 - Sherie Neufville of Start Med Life
Friday Sep 24, 2021
Friday Sep 24, 2021
Good to see you again here! I know we are in the midst of a pandemic but this won’t hinder us from achieving our dreams and be successful in life.
If you are interested in having a business or you are a medical student or you want to be one in the future, then you have to listen to this episode.
I want to introduce to you a very hardworking woman, a doctor who’s teaching medical coding, a business owner, and a mother.
Let us welcome Sherrie Neufville. Welcome, Sherie!
In this podcast, you will…
- Get Inspired by the story of Sherie about her medicine journey
- Money lessons she learned along the way
- What did she end up doing in Medical school into residency?
- Her advice about going into residency or going to practice?
- The ups and downs that she’s been through during the process
- How did she start her business while practicing medicine?
- She shared about the biggest mistake she made
- Who is her target audience for her product?
- Time management from doing business, taking care of her family, and practicing medicine.
- Sherie’s thought about people who are good candidates to do be owning a business
- Life advice for people who want to succeed in life
Resources Mentioned In This Podcast
Website
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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