There is a considerable difference between wealth and income. Many people tend to confuse the two. One of the significant differences is that income is transactional, meaning you must keep showing up to make money. Have you met people who make multiple six or seven-figure incomes and are still broke?
In this episode, I have Dr David Phelps joining me on the show. David and I will be talking about the inconvenient truths of high-income earners. David owned and operated his private practice in the dental space for 20 plus years. Significant life interruptions happened. Luckily, he had been doing things in the real estate game and investing doing things outside of the traditional norms. As a result, he was able to have more time to his disposal.
David will share his story. Listen and learn.
Key Talking Points of the Episode:
03:24 Getting to know David’s story
07:43 What is happening in the real estate market?
11:27 Inconvenient truths of high-income earners
22:20 Captive insurance
Standout Quotes from the Episode:
“Everybody forgets and when times are good, people tend to forget that not everything keeps going up forever.”
“Whatever you start today, whatever your construct is, start it early and add to it as you go that compound effect the snowball effect in a positive way.”
WE WANT TO HEAR FROM YOU!
Want to talk to us about how you can increase passive income?
Set up a meeting with us today – https://test.moneyripples.com/contact-us/
Chris Miles, the “Cash Flow Expert and Anti-Financial Advisor,” is a leading authority on how to quickly free up and create cash flow for thousands of his clients, entrepreneurs, and others internationally! He’s an author, speaker, and radio host that has been featured in US News, CNN Money, Bankrate, Entrepreneur on Fire, and spoken to thousands getting them fast financial results.