by Dr David Phelps
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I
don’t profess to be able to time the market cycles – nobody really can
– but I do know how to ride the waves.
There will always be business cycles (an up market followed by some kind of reset and a down market). The last great recession was in 2008, and now we’re in another one – triggered this time by a virus instead of the financial or Real Estate markets.
So how does one deal with these ups and downs?
Again, nobody can time the markets, but if you learn how to position yourself in your business and investments, then you can ride the big waves. Too many people put their heads in the sand and keep going like plow horses, instead of putting time into learning how to deal with the economy. It may be a great work ethic, but that doesn’t get you where you need to go.
In the exuberant “up” market cycles, everyone’s businesses and investments are doing well and they’re feeling good. And then all of a sudden they get smacked with another “out of the blue” reset (which isn’t really out of the blue, because we know they’re going to happen.)
Change is always going to be there. But the more change we have, the more difficulty people have dealing with it. There are going to be upheavals in the marketplace and it’s going to affect your business, investments, and personal life. But if you anticipate change, and are positioned to get through the gap, you’ll be ahead of everyone else on the other side.
That’s all it takes in life. You don’t have to be the best or the fastest, you just have to be ahead of the others – and it’s not that hard to do.
In Freedom Founders we have a board of advisors, a wealth of people who have been through many recession cycles in business and Real Estate. We’ve learned how to keep our finger on the pulse to direct and orchestrate our investments. And we don’t get pummeled every 6 to 8 years when there’s a downturn – we ride that wave. We may take a little dip, but not the kind of slam that takes people on Wall Street and Real Estate speculators years to dig out of.
The key to life is not trying to go solo.
Find people who have already gone down the path, and are living the kind of life you want to live.
To your freedom!
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
1. Schedule a Call with Me:
If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least $1M in available capital (can include residential/practice equity or practice sale), then click the link to jump on a quick call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to schedule a call with me directly. www.freedomfounders.com/schedule
2. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
3. Ready to Step Away?
“How Much is Enough?” This simple question keeps hard-working professionals at the hamster wheel of active income far longer than they need to be. Watch this free training, and discover a proven model for determining how much you really need before hanging up the handpiece! www.freedomfounders.com/training
4. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (3-5 years or less), visit www.freedomfounders.com/step-1 to apply for a guest seat.
