The Freedom Founders Podcast

What if the money you’ve spent decades building is invested in things you barely understand—and controlled by people you’ll never meet?

Mat Sorensen is a business and tax attorney, entrepreneur, author, and founder of Directed IRA. After helping thousands of investors use retirement accounts to purchase real estate, private businesses, oil and gas, venture capital, and other alternative assets, he became one of the nation’s leading authorities on self-directed investing.

In this conversation, Mat and David explore why there is no single path to wealth, why earning money and preserving it require different skill sets, and why many successful investors prefer to stay closer to their capital.

Mat explains how self-directed retirement accounts can allow investors to move beyond stocks and mutual funds and invest in assets they already know and understand. But greater control also brings greater responsibility. The investor must build the network, evaluate the operator, understand the risks, and develop the judgment to make informed decisions.

They also discuss Mat’s unconventional path from becoming a father at 18 to building a national law firm and one of the fastest-growing self-directed retirement companies in the country.

The goal is not simply to invest differently. It is to build wealth with greater clarity, connection, and choice.

Connect with Mat Sorensen and Directed IRA:
https://directedira.com

Use discount code FREEDOM150 to save $150.

Connect with KKOS Lawyers:
https://kkoslawyers.com

The Self-Directed IRA Handbook:
https://sdirahandbook.com

Get David Phelps’ book, The Exit Optional Playbook:
https://exitoptional.com

00:00 — What Does It Mean to Be Wealthy?
01:19 — Why Mat Calls Himself a “Wealth Lawyer”
03:12 — There Is No Single Path to Wealth
06:06 — Becoming a Father and Husband at 18
09:20 — Why Mat Chose Law and Entrepreneurship
12:08 — Discovering Self-Directed IRAs
15:25 — Building Directed IRA
18:03 — Why Wealthy Investors Favor Alternative Assets
21:20 — Staying Closer to Your Money
23:48 — Who Is a Good Fit for Self-Directed Investing?
26:34 — Control Requires Education and Due Diligence
28:54 — Why the Best Investors Specialize
30:18 — Tax Strategy, Asset Protection, and Estate Planning
32:21 — How to Connect With Mat and Directed IRA

What if the secret to lifting your grandchildren at 85 isn't a supplement or a cold plunge, but a lifestyle you start today?

Dr. Howard Luks is a board-certified orthopedic surgeon and author of Longevity Simplified. His message is simple: our bodies were designed to move, and the capabilities you don't train are the ones you lose.

Howard explains why the 10,000-step goal is a marketing myth, why falls are less about the fall itself than the frailty that follows, and why pain doesn't always mean harm. He and David explore metabolic health, recovery, and the surprising reason tennis may add more years to your life than running.

Ninety to ninety-five percent of longevity comes from a few simple habits. The rest is garnish.

Episode Links
Longevity Simplified by Dr. Howard Luks - https://a.co/d/0cD34tw4
Connect with Dr. Howard Luks - https://substack.com/@hjluks

Get David Phelps' Exit Optional Playbook – https://exitoptional.com

Timecodes
00:00 – Intro
01:06 – Introducing Dr. Howard Luks
02:45 – From Scalpel to Prevention: How His Thinking Evolved
05:45 – What Is Metabolic Health?
09:46 – Movement as the Foundation of Longevity
12:43 – Falls, Frailty, and the Brain-Muscle Connection
20:03 – Loneliness, Purpose, and Why Tennis Wins
24:45 – Running, Osteoarthritis, and Rethinking Old Assumptions
30:48 – Cutting Through Longevity Trends and Supplements
38:12 – The Non-Negotiable Habits for Staying Active at 85

Most people are taught to follow a familiar path:

Get an education. Find a good job. Save money. Contribute to retirement accounts. Avoid mistakes. Trust the experts.

It sounds responsible.

But Kim Kiyosaki believes there is a more important question beneath that advice:

Are you building security—or are you building freedom?

Kim is an entrepreneur, real estate investor, bestselling author of Rich Woman, and co-founder of the Rich Dad Company alongside Robert Kiyosaki. In this conversation with David, she challenges many of the assumptions people inherit about money, investing, education, and financial independence.

Her own journey began with a $45,000 rental house, a trembling hand at the closing table, and just $25 a month in cash flow.

The amount was almost irrelevant.

What mattered was that she had crossed the line from studying investing to becoming an investor.

Kim explains why financial intelligence cannot be outsourced, why mistakes are often the price of growth, and why no one will ever care about your financial future as much as you must.

She and David explore the difference between assets and liabilities, cash flow and speculation, and security and control. They also confront one of the greatest barriers facing successful professionals: the fear of being wrong.

School teaches us to avoid mistakes and search for the correct answer. Investing and entrepreneurship require experimentation, judgment, collaboration, and the willingness to learn through experience.

But this conversation is about more than money.

When Kim and Robert became financially free in 1994, they did not simply stop working. They gained the ability to ask a more meaningful question:

What do we actually want to do with our lives?

Financial freedom is not the absence of work. It is the ability to choose your work, direct your time, protect what matters, and build a life that is not dependent on the next paycheck.

Security may help you feel protected.

Freedom allows you to decide what your life is for.

Episode Links:
Learn more about Rich Dad – https://richdad.com
Cashflow Board Game – https://richdad.com/cashflow-game-online/
Rich Woman by Kim Kiyosaki – https://www.amazon.com/Rich-Woman-Investing-Women-Because/dp/B002GJU4SG

Get David Phelps’ Exit Optional Playbook – https://exitoptional.com

Many business owners spend decades building a thriving company, providing for their families, and earning the freedom they once dreamed about.

But eventually, a different question emerges:

Now what?

In this conversation, David sits down with longtime friend, attorney, entrepreneur, and author Ben Glass to explore what it means to intentionally design the second half of life.

Rather than viewing an exit as the finish line, Ben shares why the greatest opportunity may be to shift from building a business to building people—passing on wisdom, cultivating deeper relationships, and creating a life defined by purpose instead of professional identity.

Together, they discuss why happiness comes from having choices, how to prepare for life beyond your primary career years before you ever step away, and why the most valuable asset you can build isn't simply wealth—it's the freedom to decide how you'll spend your time.

This conversation isn't really about retirement.

It's about becoming the kind of person whose greatest contribution may still be ahead.

Because financial freedom isn't the end goal.

It's the opportunity to design a life that becomes more meaningful with every passing year.

Episode Links:
Ben Glass Law: https://benglasslaw.com
Lunch with Ben: https://lunchwithben.com

Get David Phelps' Exit Optional Playbook: https://exitoptional.com

Timecodes:
00:00 – Building a Life, Not Just a Resume
05:04 – Doing More of What Gives You Energy
10:27 – Letting Go & Finding Your Next Chapter
16:37 – Creating Meaningful Friendships
20:19 – Succession Planning Done Right
26:25 – Happiness Comes From Choices
30:45 – Give Yourself Permission to Lead
35:24 – Thriving in the Age of AI
38:38 – Principles for a Meaningful Life
43:02 – How to Connect with Ben

What if the exhaustion, brain fog, poor sleep, anxiety, and declining energy you have learned to tolerate are not simply the price of getting older?

In this episode, Steve Adam’s joins David to reveal the hidden health crisis facing many high-achieving men: they remain productive enough to keep performing while their health quietly moves from optimal to functional, dysfunctional, and eventually diseased.

For entrepreneur Steve Adams, the warning signs became impossible to ignore. After years of building and scaling companies, he found himself waking at 1:00 a.m., unable to sleep, physically depleted, and reacting in ways that no longer felt like him.

His success had outrun his body.

Together, they discuss why “normal” lab results can offer false reassurance, why isolated biohacks and quick fixes often fail, and frameworks to address the deeper foundations of health.

But this conversation is about more than living longer.

It is about having the energy, clarity, and physical capacity to remain present for your family, pursue meaningful work, and fully inhabit the next chapter of your life.

Because building the financial freedom to choose what comes next means very little if your health no longer allows you to choose it.

Episode Links:
Learn more about Tiger Medical - https://www.tigermi.com/

Get David Phelps' Exit Optional Playbook - https://exitoptional.com

Timecodes:
00:00 – The Hidden Health Crisis
01:57 – Steve's Wake-Up Call
05:01 – Why High Achievers Ignore the Signs
07:49 – Normal Isn't Optimal
11:10 – Taking Ownership of Your Health
15:12 – The Three P Framework
18:47 – Biohacking vs Root Cause Medicine
20:20 – Why Purpose Extends Life
22:29 – Your Next Chapter Starts With Health
23:25 – Final Takeaways

Most investment mistakes don't begin with bad spreadsheets. They begin with bad psychology.

Scott Corbett has spent decades working behind the scenes with real estate operators, capital raisers, and entrepreneurs. In this conversation with Dr. David Phelps, he shares what he's learned about evaluating trust, managing risk, and why the best investment decisions often have more to do with character than projections.

The discussion moves beyond investing into something every successful business owner eventually faces: identity.

Scott opens up about his own decision to step away from the business he spent twenty years building, the unexpected emotions that came with that transition, and why many entrepreneurs struggle to give themselves permission to imagine a different next chapter.

Whether you're evaluating investment opportunities, preparing for an eventual exit, or simply trying to build a life with more intentionality, this episode offers practical wisdom on making decisions that extend well beyond money.

EPISODE LINKS:
Connect with Scott Corbett: https://sunrisecapitalinvestors.com/|
Scott on LinkedIn: https://www.linkedin.com/in/scottcorbett/
Get David's book, The Exit Optional Playbook: https://exitoptional.com

Time Codes:
00:00 — Why Better Investors Ask Better Questions
04:11 — How Sophisticated LPs Have Changed
10:32 — Why Marketing Has Shifted from Returns to Risk
17:03 — What Great Operators Have in Common
21:01 — Can You Actually Measure Character?
26:40 — When Success Becomes an Identity Trap
30:32 — Giving Yourself Permission to Enter a New Season
33:10 — Breaking Through Major Life Decisions
36:02 — Why Every Entrepreneur Needs Trusted Advisors
37:48 — The Hidden Cost of Carrying All the Responsibility
40:08 — Writing the Story of Your Next Chapter

"On redefining success once you stop chasing a finish line"

Success isn't the finish line—it's the beginning of a more intentional life. David Phelps sits down with entrepreneur, author, and Dream Business Mastermind founder Jim Palmer to discuss purpose beyond business, redefining retirement, creating time freedom, and why the best chapter of life begins when you stop waiting for someday.

Connect with Jim
Website - https://www.getjimpalmer.com/
LinkedIn - https://www.linkedin.com/in/jim-palmer-dream-business-coach-900a75/

Get David Phelps’ Book - https://exitoptional.com
Join David Phelps' Workshop - https://www.freedomfounders.com/freedom-number-method-workshop/

Timecodes:
00:00 – Life After Success
02:09 – Redefining Retirement
09:15 – Finding Purpose Without Pressure
13:11 – Lessons From Slowing Down
20:50 – Identity Beyond Business
25:07 – Advice for Your Younger Self
27:49 – Stop Waiting for Someday
31:21 – Health, Energy & Longevity
35:14 – Money, Marriage & Meaning
39:54 – Today Is Someday

"A Wall Street insider on choosing temperament over intelligence — and how your best business instincts work against you"

Successful business owners often become poor investors for one simple reason—they bring the wrong mindset. David Phelps sits down with investor and author David Leiter to unpack timeless investing principles, avoid costly mistakes, manage emotions through market cycles, and build lasting wealth through productive assets instead of hype.

Episode Links:
David Leiter's website - https://www.theultimateinvestor.com/
Pre-order David Leiter's book - https://www.amazon.com/Stop-Making-Stupid-Investments-Wealth/dp/1394377657
Get David Phelps’ Book - https://exitoptional.com
Join David Phelps' Workshop - https://www.freedomfounders.com/freedom-number-method-workshop/

Timecodes:
00:00 – Why Smart People Make Bad Investments
03:16 – Business Success vs Investing Success
09:24 – Evaluating Private Investment Deals
15:12 – Hype, Ego & Investment Scams
19:48 – The Power of Long-Term Compounding
23:57 – Real Estate Lessons & Market Cycles
31:39 – Debt, Risk & Protecting Wealth
37:03 – Investing vs Speculating
40:22 – Today's Biggest Investment Mistakes
45:35 – Building Real Wealth That Lasts

Mike Capuzzi—entrepreneur, author, publisher, and host of the Unstoppable After 50 podcast—shares what happens when success stops being about building more and starts being about living better. This candid conversation explores purpose, family, health, relationships, and why the second half of life may be the most meaningful chapter yet.

Episode Links:

Get David Phelps’ Book - https://exitoptional.com

Connect with Mike Capuzzi:
Website - https://mikecapuzzi.com/
Unstoppable After 50 Podcast - https://unstoppableafter50.com/

Timecodes:
00:00 – Intro
02:41 – What Am I Building It For?
06:53 – Building a Business That Has Value
09:56 – The Real Definition of Wealth
16:50 – Health, Fitness & Longevity After 50
22:13 – Why Relationships Matter More Than Ever
29:07 – Marriage, Family & Life Transitions
33:04 – Timeless Advice for Younger Generations
34:12 – The Biggest Mistakes After 50
36:18 – Finding Purpose Beyond Success

In this conversation, David and Patrick get into what actually separates good decision-makers from poor ones — and why the moment you feel most certain is often the moment you're most exposed.

They unpack why elevated emotion gives a false signal of clarity, why indecision is itself a decision you're responsible for, and why you can't hold control over your life without owning the outcomes that come with it.

From there the conversation turns to the next generation: what feels fundamentally different for young people today, why struggle and friction are the very things we've engineered out of modern life, and what it costs to protect people from the hard things that actually build them.

And underneath all of it sits the question: when the ground keeps moving and certainty is gone, where does real stability actually come from?

It's a conversation about decisions, ownership, and the difference between standing still and standing your ground.

Patrick Precourt is an investor, author, and onetime rugby player and fighter. He bought his first property at 25 and went on to close more than 1,000 deals before helping build the real estate education company FortuneBuilders. Then he walked away from it to study human behavior — and now helps entrepreneurs get unstuck and reach goals they'd written off as impossible.

Get David Phelps’ Book: https://exitoptional.com

Connect with Patrick Precourt: 

Website — patrickprecourt.com
Instagram — @patrickprecourt (instagram.com/patrickprecourt)
Facebook — facebook.com/patrickprecourt

01:06 — The decisions that actually shape a life — career, marriage, scaling, partnering, selling, leaving

02:45 — What separates good decision-makers from poor ones

04:12 — Why feeling certain makes you most vulnerable, not most powerful — the adrenaline trap

05:26 — Rehearsing decisions before the pressure hits

07:17 — Is it permanent or reversible? Why the cost of delay can outweigh a wrong call

09:45 — You can't separate the power from the responsibility

10:14 — Making the right decision and still getting the wrong outcome

13:02 — The next generation: what feels fundamentally different for young people today

15:57 — Does everyone need college? AI as leverage, not replacement

20:09 — The case for gap years, skin in the game, and why we delay kids "adulting up"

25:31 — The harder truth about parenting: protecting kids from the struggle that builds them

28:11 — The paradoxical comfort zone — trading fulfillment for a false sense of safety

29:47 — Why we bury our heads when the next mountain appears

30:47 — Ownership and agency: "if you don't own it, you can't control it" — even in a W-2 role

33:00 — Change the system, not the person — why mediocre output is a system operating perfectly

35:33 — The skill that'll matter most over the next 10–20 years: emotional intelligence