Develop a Financial Freedom and Time Freedom! | Dr. David Phelps

– It’s David here from Freedom Founders. In Freedom Founders Mastermind
we start with the end in mind In other words we look
at an end point for what? An end point for financial freedom. See that’s the first
freedom, financial freedom. Once you have financial freedom, which is essentially having
enough passive income, that is income that’s derived
from your investments, particularly capital assets,
which is my favorite. You have enough passive
income from those investments to pay for your lifestyle
overhead, whatever that maybe. We set that benchmark. It maybe $10,000 a month,
it could be $15,000 a month, it could be $20,000 a month,
it could be $30,000 a month. Whatever your benchmark
is then we work backwards to show our members how
to acquire the assets. That could be businesses,
that could be real estate, capital assets, to create that income. How can you do it? How can you leverage into that? That is your first
freedom, financial freedom. From financial freedom you gain a big one, which is called time freedom. How many people want more time in their lives? See time’s something we can’t buy more of. Once it’s gone, it’s gone. From time freedom we can move
into relationship freedom. If you’re working with people, if you’re serving clients,
patients, customers, that you don’t like, you
don’t have true freedom. Once you have financial freedom, you don’t have to take
anybody you don’t want to. You can make those choices. You don’t have to deal
with insurance companies. You don’t have to worry about it. So relationship freedom’s a big one. What’s next? Freedom of health. How many people have given up health in order to get to the next level because they’ve been stressed out and trying to work so hard
because they’re trying to make ends meet or move
ahead in life or in business? Health is a huge one. If you let your health go, all the other freedoms, financial, time, don’t make any difference, relationship doesn’t make any difference. It’s gone, it’s gone. What’s the next one? The next one’s going to be
your freedom of purpose. I work with so many great
doctors who have had put their head down and worked really hard to become the best clinicians,
build very good practices, yet they don’t feel like they’re really serving
their bigger purpose and how do you know when you
don’t have the freedom of time, freedom of relationship
to figure that stuff out? So once you get to financial freedom, all these other freedoms
start to take place. It begins with starting
with the end in mind. Now the key thing I want you to know is that’s the only endpoint I talk about because in life there
should not be a finish line. There should never be a finish line until God decides to take you home. That’s your finish line. But if you decide there’s
a retirement finish line, you decide there’s a
financial finish line, and that’s all you’re gonna do, you’re not gonna live,
you’re not gonna make it, you’re not gonna live your bigger purpose. So we only use a finish
line or a goal for one thing and that’s your financial number, which gives you then
all the other freedoms. Once you have those, once
you start to build those, the rest of your life
can go on and on and on until your last day. But never set a finish
line for retirement, never set a finish line
for actually accumulating investment assets, it’s
only the beginning. Keep that in mind as you go forward. And remember always stay
focused on your freedom. I’ll see you next time.

1 thought on “Develop a Financial Freedom and Time Freedom! | Dr. David Phelps

  • What else would you like to know about investing in a future video? Here is a great investing tips playlist I made for you!

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