Press Featuring Dr. David Phelps
Real estate is a classic investment vehicle that can provide you with passive income while also appreciating in value. Dr. David Phelps, real estate expert and CEO of Freedom Founders, believes that real estate is “hands down” the best asset class.
“Real estate as a tangible asset is what we would call or term ‘an inefficient market’ vs. the financial world, which is known as an ‘efficient market,’” Phelps said. “This is a major benefit [that allows the] individual investor to take advantage of the inefficiencies in the real estate market to be able to access and invest where the major funds are not able to access.
Grit Daily: Celebrities, Financial Experts, & Educators Team Up to Bring Financial Literacy to Florida Students
Dr. David Phelps, a noted financial expert and one of the people on the 13-member working group, who helped the Department of Education develop the new financial literacy curriculum, says this facet of the program is essential to its success.
This is the third installment of a three part series on financial literacy and the basic understanding of inflation, and economy in general. We explore more deeply exactly why Dr. David Phelps predicts higher inflation in the future and ways consumers can protect themselves. Armed with this knowledge, you can watch veterans in the economic market yourself, and make informed decisions, protecting your financial security.
A squatter is someone who doesn’t own or rent a property, but chooses to live there anyway. People often think this is limited to someone who is broke and doesn’t have a job. You might think of a homeless person you see on the street, but that’s not always the case. Sometimes – and this is happening a lot more these day – it could be someone that used to live at the property and refuses to leave, or it could even be someone who simply breaks in and takes over the property. Several factors are driving the increase in squatters today…
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The economy is currently facing a multitude of challenges, including growing inflation, bank collapses, tightening credit, dwindling consumer confidence, and supply chain disruptions, to name just a few. As individuals and businesses alike grapple with these issues, it is essential to understand the impact of these challenges and adapt accordingly.
These powerhouse, real estate experts, share their knowledge freely on Twitter, talking on real estate, topics, as well as marketing, operations, and other business topics, which you can learn from and implement in your own business.
A shocking 43% of Americans are not financially literate, but think they are, according to research by the Milken Institute. Rising debt and delinquency rates further prove this point. But this problem has broader applications, according to Phelps.
While, this may seem to be an individual problem, the truth is that it actually causes significant problems, all the way up to the national level, because the effects of poor financial decisions ripple out far beyond the person who first made them.
Dr. David Phelps joins the working group for the financial literacy curriculum for K-12 students in the state of Florida, under the leadership of Governor Ron DeSantis.
Stubborn inflation continues to bring pain as it chips away at consumers’ buying power, but the impact could be more far-reaching as the high cost of living upends Americans plans for the golden years.
Dr. David Phelps, argues in his latest book, “Inflation, The Silent Retirement Killer,” That decades of unchecked government spending coupled with the actions of the Federal Reserve made today’s inflation inevitable, and warns that investors must adjust and prepare for the long haul.
Benzinga: Inflation Spikes, Tax Chaos, and Credit Woes: Small Business Owners Face Unprecedented Challenges, Experts Offer Advice
There is no denying that the brutal and pervasive economic conditions are wreaking havoc on the U.S. small business community. The Consumer Price Index report released on June 10, 2022, shows inflation spiked by 8.6% in May, the largest 12-month increase since December 1981.
Success is not a one-time event; it will take you a long time to realize the appropriate way for it. Dr. David Phelps joins the Real Grit podcast to share his remarkable real estate experience and his determination to see it through. Listen in to learn about heartwarming accomplishments that may help you find yours!
Strong job growth in the region has fueled pent up consumer spending, but Tampa Bay also suffers from the highest rate of inflation of any U.S. city, and the pinch of higher prices is eroding consumer sentiment. “Business owners have really got to get back to the fundamentals. Liquidity is a key shield for weathering the economic storm,” says Dr. David Phelps.
As we all gradually get over the massive economic and societal hurdles the Covid-19 pandemic brought about, the U.S. economy is sliding into more drama: inflation and recessions.
Dr. David Phelps, author of Inflation: The Silent Retirement Killer explains, “We’ve had 40 years, from 1980 to 2020, where we’ve had disinflation and low interest rates, but then we turn a corner to face completely new rules.”
“We’ve had 40 years, from 1980 to 2020, where we’ve had disinflation and low interest rates, but then we turn the corner to face completely new rules. We have rapidly growing inflation now, and as a result, higher interest rates. This means we have to learn how to do things differently.”
Phelps says the solution to the last economic crisis, stimulus via low interest rates, is at least partially the cause of our current problems.
As a nationally recognized keynote speaker, David brings dynamite energy and rare insights into how to create financial freedom through passive income, how to build a real business that doesn’t take over your life, anti-traditional real estate investing, private lending, wealth-building legacy, and how to take responsibility and “own” your life.
He sold his dental practice and poured the proceeds into real estate. It didn’t take him long to replace his income, but now he was generating it passively. This gave him the freedom of time without taking away the income he needed to support his family. During this process, Phelps realized something that shocked him — most of the financial industry was giving people bad advice…
Is the rising energy price a wake-up call? Will we see long-term consumer behavior changes towards a more energy-efficient lifestyle?
We’re already seeing changes today. In my home state of Texas, 7,352 megawatts of new wind, solar, and energy installation projects were completed last year, significantly outpacing California, which installed just 2,697 megawatts of similar projects. Demand for electric vehicles is surging as well.
Paying off your mortgage early may give you peace of mind, but it should never be prioritized over building up an emergency fund.
“Once you pay off debt or pay down debt, you now have more equity but less available cash when needed,” said Dr. David Phelps, real estat investor and founder and CEO of Freedom Founders. “There is safety in cash and cash flow. Equity also provides a level of safety, but cash flow is the oxygen that maintains your business or personal revenue needs. Equity by itself cannot do that.”
David Phelps, Author of “Own Your Freedom” and founder of Freedom Founders, talks about finding financial freedom with real estate investing.
In August 2020, we were right in the middle of the pandemic. I realized that the people I serve, my Freedom Founders members mainly, but indeed the whole nation—were vulnerable to the extent that we’re entirely dependent upon our income. And, most people have never considered that a time could come that would prevent them from earning an income. For many, this was a wake-up call.
“Get to know the market,” said David Phelps, Founder & CEO of the investment advising group Freedom Founders and author of Own Your Freedom: Sustainable Wealth for a Volatile World. “That means collaborating with other experts or influencers in the market.”
Phelps recommended attending real estate investors meetups or joining investor groups, or even looking at online forums to learn more about the real estate market in any given area and what’s needed to invest in a multi family investment property.
Articles Written by Dr. David Phelps
As private equity firms, like BlackRock, search for new markets to extract profits in a slow and uncertain economy, their recent entry into the dental industry is causing radical changes. More specifically, small dental practices run by individual owner/operators are being gobbled up by PE firms like a frantic game of Hungry, Hungry Hippos.
Saving for retirement is a crucial part of financial planning, and the earlier you start, the better. Unfortunately, a lot of people are putting themselves into a precarious situation by depending solely on Social Security. This is not a wise strategy, because unless modified by 2028, the current system can only pay out 80% of benefits starting in 2035.
In today’s landscape, however, professionals of all ages and career stages are considering offers from DSOs and private equity firms, enticed by the promise of substantial multiples and high valuations. This phenomenon was non-existent in the 80s and 90s, representing a significant shift in the dental field. What underlies all of this? Has money truly become so easily accessible without any attached conditions? What economic factors have contributed to this new reality, and can it be maintained over time?
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You work hard to have a productive dental team that provides outstanding service in a cost-effective, sustainable, and environmentally friendly way. These goals are important, but the key driver for business success, in both good and bad economics, is profitability.
A shocking 43% of Americans are not financially literate, but I think they are, according to research by the Milken Institute.
While this may seem to be an individual problem, the truth is that it actually causes significant problems all the way up to the national level because the effects of poor financial decisions ripple out far beyond the person who first made them.
Most Americans wants many of the same things – a decent income, freedom to have options, and time to spend with family. And most Americans don’t have time or the financial background to sit through mounds of financial data. Instead, they rely on main stream, media, social media, or bright, shiny investment products to make decisions that will have a major impact on their financial future.
High-income professionals are blessed with the ability to “make” a good income by trading time in specialized skills for money. But keeping and making that money work is hard for you as you did, for it is not a skill set most have. In fact, most small business owners abdicate their investment capital to wall Street third-party administrator to performance history is as volatile as the financial markets themselves.
As young people become more financially, literate will see our families, businesses, communities, and the nation, as a whole, become stronger and more resilient.
In an up-market, you’ll often find a lot more “investors,” but may will be newbies, DIYers, and gamblers. Money seeks investment yields, and real estate is highly sought after when it’s up.
When the market corrects, it will push many of those avatars out of the investment market, and only the professionals will remain the key is to identify which type of real estate investor.
If you are like most practitioners, your retirement planning to a third-party fiduciary to invest in the Wall Street 401(k) for you. This is the traditional and easy route, but have you ever stopped to think about the cost of going with the status quo? To start, you lose control of your money and put in a lock box until age 59.5 to help keep Wall Street in business.
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If you currently own your own practice or are aspiring to do so, you are betting on yourself and your ability to navigate to a better future. Why accept the risk and responsibility of owning a practice today?
It comes down to being able to shape your own destiny, you want the opportunity to be in charge of your future, and have the ability to increase your income and provide security, peace of mind, and financial freedom.
Many dental colleagues feel pressure to measure success in a certain way – growth, production, number of practices. All of that as well and good – but is it what you really want? And what end are you working? I recently spoke to a young doctor who had aggressively expanded to a three – practice empire. Smart. Ambitious. Hard working. Yet after two years of trying to juggle the demands of being in three places at once, managing staff, and overhead, he finally had an epiphany…
If you are like most practitioners, you’ve relinquished your retirement planning to a third-party fiduciary to invest in a Wall Street 401(k) for you. This is the traditional and easy route. But have you ever stopped to think about the cost of going with the status quo? To start, you lose control of your money and put in a “lockbox” until age 59.5 to help keep Wall Street in business…
For practitioners who thought they were nearing the end of their clinical career, this new reality is a major disruption, and brings with it much uncertainty.
The most pressing problem is that, for the aging practitioner, time is not on your side. Whether haunted by back and neck pain, or simply just worn down by the headaches of managing staff, insurance, and overhead, the reality of being forced to stay behind the chair due to lack of financial certainty is disheartening.
But recessions are not all bad…
In my decades of experience, I’ve witnessed many professionals receive disturbing advice from well-meaning, yet uninformed or inexperiences advisors, who were acting in their best capacity given their traditional education and background. The problem is that they only know what they know. Their one size fits all, “here’s what everybody does” approach to investing creates average results at best.
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It’s time to take control of your hard-earned retirement income
Have you been sold the benefits of a 401(k) after being faced with a painful tax bill in the first few years of practice ownership?
After years of grinding it out in dental school, followed by the hard work of building/acquiring a private practice, you receive a well-deserved income. But then, you realize just how much of that income the government feels entitled to take (a topic for another day)…
We’ve seen disinflation and historically low-interest rates for the last 40 years. And now, the devaluation of the dollar, or inflation, is back for the first time in a generation and a half and is expected to grow. According to Forbes, “On an annual basis, CPI was up 8.3% in August over the prior 12 months, disappointing expectations for an 8% figure. While that’s an improvement from July’s annualized 8.5% gain, it remains very high.”…
One of the primary reasons that dentists keep their nose to the grindstone long after they are ready to be “free” from the practice, is that they don’t know how much is enough. “Do I have enough money, investments, or assets to last me the rest of my life after I stop working?”
How much is enough?
Entrepreneur.com: Everything You Know About Your 401(k) is Wrong. Here’s Why and What You Should Do About It
We all need to take control of our financial future is, but it’s not enough to just save money. It’s critical that we make the right choices based on accurate information.
Retirement savings is crucial for everyone, because relying on Social Security is not enough to sustain yourself through your twilight years, especially considering that without any changes, the current Social Security system will only be able to pay benefits at 80% in 2035 and beyond. And the sooner you start, the better off you are.
In an upmarket, you’ll often find a lot more “investors,” but many will be newbies, DIYers and gamblers. Money seeks investment yield, and real estate is highly sought after when it’s up.
When the market corrects, it will push many of those avatars out of the investment market, and only the professionals will remain. But that’s is a double-edged sword. It gives you a better perspective client, but it also requires you to provide more value from the get-go.