Money, retirement, wealth, prosperity. All terms we are familiar with but do any of us know how to achieve them? That is why I wanted to have my friend and colleague, Dr. Mart McClellan on the show. Mart is an orthodontist AND a financial advisor and he is a wealth (pun intended 😊) of knowledge. He will share how he feels all of us can achieve financial prosperity both pre-and post-retirement.
We discuss:
· What motivated Mart to pursue a career in financial advisement while he was practicing orthodontics full-time.
· How a conference Mart went to as a resident changed his perspective on money.
· What to do about debt, including student loan debt, mortgage debt, consumer debt, etc.
· If Dave Ramsey has the right idea by recommending to aggressively pay down debt.
· Whether to get a 15-year or 30-year mortgage.
· Ways to change your mindset towards money.
· The importance of setting goals for your financial future.
· The flaws with the traditional financial model.
· How to get off the traditional linear model of accumulating wealth and accelerate your wealth curve.
· The importance of thinking about how to distribute your assets, not just accumulate them.
· Who the “rulesmakers” are and how they attack our money 365 days/year.
· The percentage of your earnings that you should be saving every year.
· What a “Wealth Freedom Account” is and why you need one.
· If you need an Emergency Fund and, if so, how much to put in it.
· Which is more important, a savings rate or a rate of return.
· The difference between “new money” and “old money” when it comes to investing.
· Why we don’t believe in “evidence-based financial planning.”
· What a “diversified portfolio” really means, and what it is not.
· When to expect the next downturn in the real estate market.
· The difference between average rate of return and annualized rate of return, and which is more important.
· How many different income streams wealthy people typically have.
· Whether or not you should fund a retirement plan.
· Mart’s thoughts on the “Die with Zero” mentality.
· What can be done to help students/residents get a better financial education.
· Strategies for older docs can do to maximize their retirement income.
· And much more!
LINKS:
-Mart’s Book “Your Retirement Smile”: https://a.co/d/9y6fTRU
-Mart’s Website: www.Macro-Wealth.com
-Mart’s Email: [email protected]
-Mart’s Cell: (847) 363-5502
-Rich Dad, Poor Dad: https://a.co/d/6nkfQFS
-Smart Couples Finish Rich: https://a.co/d/6nkfQFS