This episode is sponsored by @PearsonRavitz.
The episode features Dave Denniston, CFP, a financial planner and host of the Freedom Formula for Physicians Podcast. They delve into the concept of financial freedom for physicians, which involves becoming debt-free, having a strategic plan for income generation, and exploring tax reduction strategies. They clarify that while consumer debt is unfavorable, investment debt can be beneficial for cash flow and acquiring assets.
Looking for something specific? Here you go!
00:02:01 Financial freedom formula: Debt-free, strategic planning, lower taxes.
00:09:57 Negotiate fees with a financial advisor.
00:11:52 Different fee structures for advisors.
00:17:26 Utilize tax-saving strategies for physicians.
00:21:03 529 plans can be converted to Roth for kids.
00:30:42 Tax advantages of short-term rentals.
00:32:26 Passive income is not truly passive.
00:36:46 Tax efficiency in investments.
Bio/links!
Dave Denniston is a financial planner and advisor with expertise in land flipping. He has achieved success in various areas, including running land flipping businesses, hosting the Dr. Freedom Podcast, writing books, and being a financial advisor. Dave Denniston's ethos/philosophy revolves around being intentional with spending and aligning it with one's values. He believes that material possessions may not bring long-term happiness and emphasizes the importance of financial planning.
Find Dave on his LinkedIn.
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Disclaimer:
This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.