Strategies to Generate & Preserve Wealth at Any Age (w/Dr. Mart McClellan) [Ep.77]

Money, retirement, wealth, prosperity.  All terms we are familiar with but do any of us know how to achieve them?  That is why I wanted to have my friend and colleague, Dr. Mart McClellan on the show.  Mart is an orthodontist AND a financial advisor and he is a wealth (pun intended 😊) of knowledge.  He will share how he feels all of us can achieve financial prosperity both pre-and post-retirement. 

We discuss:

·         What motivated Mart to pursue a career in financial advisement while he was practicing orthodontics full-time.

·         How a conference Mart went to as a resident changed his perspective on money.

·         What to do about debt, including student loan debt, mortgage debt, consumer debt, etc.

·         If Dave Ramsey has the right idea by recommending to aggressively pay down debt.

·         Whether to get a 15-year or 30-year mortgage.

·         Ways to change your mindset towards money.

·         The importance of setting goals for your financial future.

·         The flaws with the traditional financial model.

·         How to get off the traditional linear model of accumulating wealth and accelerate your wealth curve.

·         The importance of thinking about how to distribute your assets, not just accumulate them.

·         Who the “rulesmakers” are and how they attack our money 365 days/year.

·         The percentage of your earnings that you should be saving every year.

·         What a “Wealth Freedom Account” is and why you need one.

·         If you need an Emergency Fund and, if so, how much to put in it.

·         Which is more important, a savings rate or a rate of return.

·         The difference between “new money” and “old money” when it comes to investing.

·         Why we don’t believe in “evidence-based financial planning.” 

·         What a “diversified portfolio” really means, and what it is not. 

·         When to expect the next downturn in the real estate market.

·         The difference between average rate of return and annualized rate of return, and which is more important.

·         How many different income streams wealthy people typically have.

·         Whether or not you should fund a retirement plan.

·         Mart’s thoughts on the “Die with Zero” mentality. 

·         What can be done to help students/residents get a better financial education.

·         Strategies for older docs can do to maximize their retirement income.

·         And much more!

LINKS:

-Mart’s Book “Your Retirement Smile”: https://a.co/d/9y6fTRU 

-Mart’s Website: www.Macro-Wealth.com

-Mart’s Email: mart@macro-wealth.com 

-Mart’s Cell: (847) 363-5502

-Rich Dad, Poor Dad: https://a.co/d/6nkfQFS 

-Smart Couples Finish Rich: https://a.co/d/6nkfQFS