In this riveting discussion, an anonymous businessperson and his dentist spouse share their incredible journey to financial independence by strategically building a thriving dental practice. They reveal their disciplined approach to saving 80-90% of their income in just nine years. Topics include the challenges of student debt, the significance of strategic spending, and how their immigrant backgrounds shaped their work ethic. They emphasize the freedom that comes with achieving financial goals and explore the underlying principles of the FIRE movement.
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Journey from Debt to $8M Net Worth
This couple started with $300k debt split evenly and built a multi-million dollar dental practice in nine years.
They transitioned from working regular jobs to owning and expanding their own dental office, incorporating entrepreneurial efforts.
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Save 80-90% To Build Wealth
Maintain a high savings rate, they saved around 80-90% of their income before taxes to build wealth.
Control spending rigorously, as they spent only about $8,000 to $12,000 per month despite increasing income.
question_answer ANECDOTE
Adjusting to Financial Freedom
At ages 35 and 36, they're financially independent but learning to spend more without guilt.
They plan to maintain a modest lifestyle despite financial freedom, highlighting the challenge of spending more after years of frugality.
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Die with Zero presents a provocative philosophy and practical guide on how to get the most out of your money and your life. Bill Perkins argues against over-saving and under-living, advocating for investing in experiences early and maximizing positive life experiences. The book introduces concepts like 'time-bucketing,' 'net worth curve,' and 'fulfillment curve' to help readers optimize their life stages and make the most of their resources. Drawing from his own life experiences and insights from psychological science and behavioral finance, Perkins makes a compelling case for living large and accumulating memorable experiences rather than wealth.
Today we are talking with a highly motivated couple that has reached financial independence in their mid thirties. They did all of this in less than 10 years since training. She is a dentist and he is in business and they leveraged their knowledge to build a thriving dental practice. They save upwards of 80 - 90% of their income and have known since they finished training that they wanted to get to FIRE. They love the freedom and the choice that is now available to them. After this inspiring interview we will be talking about FIRE.
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