Episode 57: The Freedom Formula for Physicians–with Mr Dave Denniston

Resources

  1. The Freedom Formula for Physicians
  2. Dave Denniston’s Book
  3. Dave Denniston’s Financial Advisor Firm
  4. Video of Dave Denniston’s Daughter’s Story

Summary

Financial independence for physicians can be challenging. In addition to foregoing nearly a decade of meaningful income, many physicians come out of medical school with student loans that can be in the six (and now even seven) figures. All the while physician income has remained flat relative to inflation. Consequently reaching financial independence can be far more difficult for physicians now than those who practiced decades ago.

Still, as financial advisor Dave Denniston notes, financial independence is indeed feasible. By taking the time and effort and getting the appropriate help, doctors can be well on their path to financial independence.

In this episode, Mr Denniston recounts his very personal story of how he developed a podcast to help doctors reach financial independence. Furthermore, he explains what financial independence means and why he considers it so important for doctors to purse it. Finally, he discusses some of the challenges that have impeded true financial freedom and how doctors, especially direct primary care doctors, can take the steps necessary to overcome them.

Time Stamped

[02:57] Why do you have such a passion to help doctors on the path to financial freedom?

[05:40] It’s no secret that more and more financial freedom has been a challenge for doctors. Why is this?

[09:31] If you were to give a few simple steps for doctors to achieve financial freedom, what would they be?

[12:48] When thinking about DPC and all of the uncertainty in health care, how can DPC doctors still work towards financial freedom?

Mr Dave Denniston

Guest

Mr Dave Denniston is a tax consultant, financial consultant, author and podcast host. He started the podcast “Freedom Formula for Physicians” as a way to give back to doctors who care for his daughter Evangeline who was born at 23 weeks of age and spent the first months of her life in the NICU. Mr Dave has devoted an incredible amount of work to helping doctors achieve financial freedom so that ‘they can focus on what they love most–their families, their patients and the activities that give them joy…’’

 

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