Press Featuring Dr. David Phelps
AP News: Mark Pellegrino, Matt Higgins, & Zuby Join Growing List of Celebrities Collaborating to Bring FinLit to FL Students
The Florida Department of education has been working quietly behind the scenes with a group of educators and financial experts, to develop its new financial literacy curriculum, which was recently completed, and the department is now moving forward with the other half of the equation – getting Florida students excited about and engaged with the curriculum so they can learn and benefit from.
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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.
Articles Written by Dr. David Phelps
Our debt is the direct result of decades of reckless government spending coupled with a general lack of financial literacy among fellow citizens. It gets worse about every four years when politicians, who want to ensure they get enough votes to stay in office, start handing out taxpayer dollars with the same enthusiasm, that sweet old neighbor hands out Snickers bars to the endless parade of ghosts, superheroes, and Bluey on Halloween night.
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Dental Economics: What Financial Planners Are Getting Wrong About Inflation, Credit Contraction, Overvalued Equites and The Next 10 Years
Investors are seeking clues about where the markets are headed. Will there be a soft landing? Will the headwinds of inflation, rising national debt, and a burgeoning credit crisis push the economy into a recession? Or perhaps neither of those scenarios entirely.
For investors who want to step away from practice (and reduce their reliance on practice income), it is vital to have a financial plan that does not rely on accurately predicting the future.
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Multiple streams of income are a game-changer. They give you the ability to control your time, reduce stress, and plan for the future. In contrast, if you have a retirement savings wrapped up in a single investment, it can be very limiting and nerve-wracking. This is especially true if that investment is dependent on the unstable economic conditions of Wall Street and managed by someone else.
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As clinicians, we are trying to avoid mistakes and failures at any cost from dental school. Onward, we are conditioned him, and take his planning, foresight, and risk mitigation. The outside of the mouth (in the real world), this, mentality can hold us back from navigating the opportunities that life provides.
With all the talk of inflation lately, another economic phenomenon is quietly percolating just below the surface, and when it finally emerges, it will catch most people off guard. That phenomenon is deflation, and while it comes with some benefits – the most significant being a reduction in the cost of goods and services through the economy, which can be a good thing when facing inflation, it also comes with risks…
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As reported, the state of our economy has evolved from “everything’s fine, and there’s no inflation” to “ok, there is inflation, but it’s just transitory,” to “well, yeah, of course, inflation is here, and it’s going to be here for a while,” most Americans are starting to wake up to the fact that we’re already facing a dire economic situation…
When you turn on the news lately, most commentators will claim either that our economy is doing terrible and we should run to the hills or that our economy is secretly doing awesome and only crazy conspiracy theorists are worried. (Spoiler alert—neither side is getting it right.)…
I stopped at a coffee shop a few days ago after returning from a meeting. I got my coffee and quietly sat down at a small table in the back corner. I opened up my laptop to begin digging into the due diligence on a property I was considering as an investment. But before I could get into my stride, my attention was grabbed when I heard a pundit on a national news program, which I won’t name, loudly proclaim that despite the inflation you and I see in everything we buy today, our economy will bounce right back…
Dentistry Today: TODAYS DENTAL NEWS: Are You Focusing On Financial Freedom Or The Tools That Get You There? – Part 1
Most of us are entrepreneurs at heart. We want “the good life” and will do what it takes to get “there.” Go hard, level up, hustle… But is grinding a virtue or a vice? I recently posted a meme in an outline dental forum: My definition of grind = friction, abrasion. This post received tremendous positive and negative feedback, with positive out rankings the negative by 3:1.
The economic environment we’re now facing closely resembles the brutal stagflation we faced in the 1970s, which devastated our economy and the lives of millions of Americans in the process. But before we get into exactly what that is and how it impacts all of us, let’s first unpack how we ended up where we are, economically, today..
Inflation absolutely skyrocketed in 2021, shortly after the pandemic spending spree and unfortunately, our government seems to be committed to more of the same, so inflation isn’t going anywhere anytime soon, and it’s probably going to get a lot worse before it gets better.
The sale of your practice not only marks the end of the significant professional chapter, but also the transition into a period where financial dexterity and the management of the proceeds becomes paramount. What is your plan for utilizing and safeguarding the equity after the sale? How will you replace your income from the practice with investment income post sale? Do you have a plan for shielding that capital from market volatility or a potential crash?
**This article was written with Alastair Macdonald
While the media and most Americans today are talking about how inflation is ravaging our economy lately, few truly understand what inflation actually is, how it works, and most importantly how to adapt to minimize its adverse effects in their lives.
So in this article, I’m going to break all of that down in a way that anyone can understand, and I’m also going to share some advice on how to protect yourself from the financial erosion caused by inflation.
The last three years have dramatically challenged conventional strategies for retirement planning. The landscape has shifted from the perception of an ever rising bull market to a new Era of significant uncertainty and volatility…
The decision to sell a practice and partner with the DSO represents a significant financial transition that requires careful planning, financial acumen, and a keen awareness of the shifting economic landscape. You can secure your financial future through astute investments, proactive financial advocacy, and a thoughtful approach to capital preservation, and sustainable income generation.
**This article was written with Alastair Macdonald
The Profitable Dentist: Transcending Financial Constraints. The Life-Changing Event of “Having Enough”
The American ideal success has been built, almost entirely around ambition, wealth, and status. It has been a narrative of triumphing over adversity, rising from rags to riches, and descending the corporate ladder. Pulling oneself up by the bootstraps, a bigger office, a higher floor, a large salary, and a better view.
The reverberations of rising interest rates are rippling through the private equity markets. This includes dental service organizations, or DSOs. Which have heavily relied on private equity to fuel their dynamic growth.
What will be the effect on the hitherto to booming DSO sector? How are DSO’s adapting to these market changes, and how will those pivots affect practitioner seeking a path to freedom from their practice?
**This article was written with Alastair Macdonald
When you trade your time for money, this is “transactional” or active income. It’s what the educational system teaches us. This creates workers who produce the goods and services, others purchase, and this division of labor is a highly efficient model.
Read the full article HERE
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.