Category: Most Popular
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Doctor Investing: How To Become a Millionaire in Real Estate
Research shows that 90% of millionaires do something specific to create wealth….invest in real estate. Even though doctors get a late start with tremendous debt, they still have an easier time reaching millionaire status due to a six-figure income. So good news, if you’re a doctor or other high-income earner, then the likelihood of becoming…
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10 Pros And Cons Of Owning An Apartment Building
10 Pros And Cons Of Owning An Apartment Building It takes a lot of time and sacrifice to become a doctor. If you’ve been practicing for a while, it’s easy to forget how many years that were put in to get to where you are. Whenever new investors from our Passive Investors Circle group ask…
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7 Ways To Evaluate a Real Estate Sponsor
One of the most frequently asked questions new Passive Investors Circle members ask is how they can go about finding the best real estate deals. If you’re not familiar with how the process works then yes, that would be a good question to ask. Except it’s not. When investing in real estate, especially as a…
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What To Do With 50K: 10 Year Look At Passive Investing
What To Do With 50K Each Year – A 10 Year Look At Passive Investing I recently posed this question on DentalTown.com which is the largest forum for dentists: “For those that have been practicing for 5+ years & knowing what you know now regarding finances and investing, what would you do differently if you could…
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Is Becoming a Doctor Worth It? Why Doctors Don’t Get Rich
I remember growing up during high school watching Bill Cosby play Dr. Cliff Huxtable on the Cosby Show. There was one particular episode where he deliberately dressed in shabby clothes when purchasing a new car. He wanted to teach his kids that you shouldn’t ever dress like you’re wealthy when making large purchases in order…
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5 Outstanding Tax Strategies For High Income Earners
Do you want to lower your income tax bill? Who doesn’t? But the more money you make, the higher taxes you have to pay, right? Well, maybe not. Why do the ultra-wealthy like Donald Trump and Warren Buffett pay so little in taxes as compared to their income? It’s because they know how to play…
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How To Invest 200K In Hassle Free Real Estate
How To Invest 200K In Hassle Free Real Estate A Passive Investor Circle member recently asked, “Dr. Jeff, my wife and I heard that we can take money out of our 401k due to the pandemic. We’d like to invest $200K in something other than the stock market. Can you help?” The March 2020 national…
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Why Passive Income Beats Active Income
Most doctors and other high-income earners only focus on (and know about) active income. They buy their “stuff” with active income such as cars, boats, watches and suits. Active income is the MOST heavily taxed income there is. Read that sentence again and let that sink it. Related article: 5 Smart Ways On How To…
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I Can’t Do It Anymore: 3 Reasons Doctors Hate Their Job
For the non-medical professional hearing a doctor say, “I hate being a doctor” on a daily basis would be like Michael Jordan back in the day saying, “I hate being a NBA player.” It doesn’t make sense, right? Unfortunately it’s hard to put ourselves in someone else’s shoes until we walk in them too. I…
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7 Minute Read: Tax Free Wealth Book Summary
7 Minute Read: Tax Free Wealth Book Summary I’ll admit. I’ve spent most of my life relying on other people for help in areas that I don’t know much about. One of them is construction. My dad owns a hardware store, so you’d think I’d be handy with tools. Think again! Unfortunately, he didn’t pass…
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Depreciation: The #1 Tax Break For Doctors
Depreciation: The #1 Tax Break For Doctors Most doctors fall into the 32% or 37% tax bracket. Needless to say, taxes are and will continue to be our BIGGEST expense. After becoming a business owner and purchasing an office and new equipment, I remember my CPA mentioning something about saving taxes with an annual depreciation…
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7 Minutes to Financial Success: The ‘Rich Dad Poor Dad’ Recap
Rich Dad Poor Dad Summary Occasionally I get so much information that comes across my desk that finding material to write about is a cinch. On the other hand, I sometimes need help coming up with topics that would benefit you so I reach out to other bloggers for help. So recently I did just…
