I recently came across a saying that you’re likely familiar with: “A dollar today is worth MORE than a dollar tomorrow.“ This reminded me of one of my grandmother’s sayings, “Son, I remember when a gallon of milk cost a dime.” Thinking about the time value of money made me curious as to what $10 would…
“I wish I could enjoy some of my retirement assets BEFORE I reach retirement age. You never know if I’ll still be healthy enough to enjoy it by then.” This was a comment from a new Passive Investors Circle member BEFORE she learned about self directed retirement accounts. Here’s another one: “Jeff, I’m only a…
During dental school, some of the professors would mention that the way to keep up with our profession was to “invest in yourself” after graduation. Up until a few years ago, I thought that investing in yourself meant attending the continuing education meetings required by our state board of dentistry. I do feel this is…
“OUCH! Ok dad, I’ll clean up my room if you’ll stop twisting my arm!” When my kids were much younger, I could get away with a little “force” to get them to do what I wanted them to do. Twisting an arm, finger or ear would usually do the trick. Now as teenagers, it’s much…
[Editor’s Note: Today’s article is a guest post from Lyle Solomon is a licensed attorney in California. He has been affiliated with the law firms in California, Nevada, and Arizona since 1991. As the principal attorney of Oak View Law Group, he gives advice and writes articles to help people solve their debt problems.] Do…
If my kids want better results and learn something new, I teach them to study others that have accomplished what they’re trying to achieve. It’s really that easy. My oldest is playing QB for his high school team and has a similar build to Tom Brady (not the arm yet!). I told him that he…
If I were to ask you what it means to invest in real estate, how would you answer? If you’re an average real estate investor, you may state it has to do with buying a single family home or apartment. Or if you invest passively (like me), you might say it involves pooling your money…
If you want to accomplish something in life, one of the best ways is to study those that have already done what you’re trying to acquire. If one of your goals is to build wealth, look no further than Warren Buffett. He’s considered to be one of the most successful (and famous) investors in the…
There’s something special about those of us that grew up in the 80’s and 90’s :). One of those reasons happens to be that during this time, the greatest basketball player of all time, Michael Jordan, was selected as the third overall pick in the NBA draft by the Chicago Bulls. To put things in…
Growing up, I’d frequently hear successful people say, “If you want to get rich, you have to make your money work for YOU.” When I first heard this advice in high school, I didn’t have a clue what it meant. “The rich don’t work for money. They make their money work for them.” – Robert…
It’s a good chance that if you want something in life, there’s someone out there that’s already got it. If you can’t be ’em, join ’em, right? For instance, when I started this blog, I had NO CLUE where to start. Heck, I could barely turn on a computer. I’m serious. This Louisiana redneck could…
“Cash flow tells the story of how a person handles money.” – Robert T. Kiyosaki When I was trying to get through dental school and later a surgical residency, the term “financial independence” never crossed my path. Man, I wish it had instead of “periodontitis” or “osseointegration“. But you have to start somewhere, right? Speaking…
When it comes to self-improvement, building wealth is one thing many struggle with. Whenever I’m wanting to learn something new or stay focused on a particular area, having quotes around help keep me on the right track. Here’s my favorite 117 quotes about money and happiness. 117 Inspirational Quotes About Money And Happiness #1 “Money…
Do you remember when you first started school? What was the goal by the end of kindergarten? To make it to first grade, right? Then it was to get into second, third, and fourth grade, etc. until you reached high school. That’s when the real pressure was put on to not only make good grades…
A new Passive Investors Circle member recently asked, “Jeff, how can I purchase an apartment building and bring in others to invest?” After asking him a few questions about his background, I learned: he was a pulmonologist in the Midwest has been practicing for 16 years was married with three kids only debt – home…
One of the BIGGEST lessons Robert Kiyosaki’s book “Rich Dad Poor Dad” taught me was: “The Rich Don’t Work For Money” – Robert Kiyosaki To take it a step further, billionaire Warren Buffet once said, “If you don’t find a way to make money while you sleep, you will work until you die.” Now if the rich don’t work for money and…
It’s amazing how many younger Passive Investors Circle members begin pursuing financial independence (FI) shortly after completing their training. I first learned about the financial independence/retire early or FIRE community after 10 years of practicing as a periodontist. Honestly, the concept of financial independence had never occurred to me. I thought there was no other…
You finally made it. The grueling and exhaustive medical training is now over and recently you landed your dream job with a six-figure salary that’s going to provide a sweet lifestyle. Not to mention a MUCH better way to pay off that $400,000 worth of student loans and mounds of credit card debt. However, as…
One of the issues first year dental students face is becoming familiar with all of the “dental lingo” involved. It took me a while to get comfortable with terms such as: mesial/distal apicoectomy probing depth (PD) loss of attachment (LOA) exostosis This is no different when first starting to learn about real estate investing. Occasionally…
I have a confession to make – I LOVE Montana. Heck, even “Honest Abe” did too! “My favorite state has not yet been invented. It will be called Montana, and it will be perfect.” – Abraham Lincoln If you’re a subscriber to this site (thank you!), then you’re probably wondering why I’m talking about traveling to…
Who would have thought that a pandemic causing a world to shut down would cause some businesses to fail and others to thrive such as the self storage industry. That’s right, self storage. It seems that when American households couldn’t work and free money was sent to them via the government, their boredom was relieved…
If there’s one book that I’ve read that has helped me in ALL aspects of life (work, family and social), it would be Dr. Robert Cialdini’s Influence – The Psychology of Persuasion. It’s also frequently mentioned on podcasts as being on the interviewers favorite books list. There’s something about both psychology and negotiation that has…
Who would have thought that a global pandemic in 2020 sending thousands of people to hospitals throughout the U.S. would cause many doctors to lose their jobs and earning potential? Doesn’t make sense, right? You’d think the demand would now be higher but it seems that many hospitals have lost so much money that hiring…
For the first 10 years of my career as a periodontist, I socked money away in the only investment opportunities I was familiar with….the stock market. This was due to my limited financial knowledge. At that time, the majority of our investments were in good ‘ole boring Vanguard index mutual funds (i.e. VTSAX Vanguard Total…
I recently came across a post on a forum for dentists from a 34 year old dentist. He wanted the group to “help him get out of dentistry.” He had only been practicing for 8 years and was miserable having to deal both with patient complaints and staffing issues. It’s hard for him to decide…
“What happens if Washington votes to raise our taxes?” “Do you think all the stimulus money is going to cause inflation to rise?” Questions like these commonly appear in my inbox from Passive Investors Circle members and honestly I can’t answer them (I don’t have a crystal ball). The government’s tax policy and the future…
3 Reasons Value Add Real Estate Investing Can Work For You My dad’s father and uncle started a hardware store (Star Hardware) in 1941 that my dad still runs today. There’s nothing that I’ve ever seen that he couldn’t fix. (Maybe that’s why his nickname is “Mr. Fix-it“? Occasionally my wife and I will call…
[Editor’s Note: Today’s article is a guest post from a friend of mine that wants to remain anonymous. He’s a doctor that teaches other doctors about all types of money matters at Wealthy Doc. ] As a real estate investor, the Wealthy Doc understands that one of the MOST important benefits for investing in the…
What’s the Difference Between Earned vs Unearned Income? It wasn’t until about seven years ago that I started searching for income sources outside of my dental practice. It took a minor wrist injury while skiing to make me realize I was depending 100% on the practice’s income. Not a good plan to have especially when…
It didn’t take long after completing dental school and a surgical residency to start getting hounded by insurance agents and financial advisors. I had no idea how many policies were needed to own a practice! Any way, the financial advisor recommended that I only work with him to ensure I’d be able to someday retire…
If you’re ready to learn, then I’ve created a FREE guide that will teach you what you need to do to get started in creating passive income with real estate.