Podcast Episode #448: Navigating the Current Market Conditions – David Phelps (Part 1)
Episode #448: Dentist Freedom Blueprint Podcast
Navigating the Current Market Conditions – David Phelps (Part 1)
If you are a business owner, then you know what it’s like to make the day-to-day decisions in every aspect of your business. It’s a lot of work, a lot of risk, and it is challenging—but many of us wouldn’t do it any other way. So… what about our investments? In this episode, I’ll discuss how important it is to take your finances and investments into your own hands, just like you do with your business.
Listen in to hear why it is important to handle your own finances and not completely pass it off to someone else (no matter how well-meaning). I’ll share ways for you to start educating yourself on finances and investments, as well as how to plug in and get connected with others who are doing the same. Don’t miss these key insights on investing and proactively navigating the current market.
Minute Markers:
1:58 – The importance of having a plan B and being involved in your investments.
3:28 – Why handling your own finances is more important when you’re building your own business.
7:54 – How printing money has been slowly (or not-so-slowly) chipping away at our economy.
10:13 – How long I’ve been studying the market and the importance of paying attention to the cycles.
14:48 – The inefficiencies of government and what it has done to our economy over the years.
16:17 – What the lag effect is and what it means for us.
19:37 – Why we are so discerning about all investments and the process we use in decision-making.
21:42 – How to treat the numbers that the government gives us.
Featured on the Show:
David Phelps: Economy Is Worse Than Anyone Admits
Freedom Founders Discovery Call
David’s private 30-Day Blueprint Group
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
1. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.