White Coat Investor Podcast MtoM #225: Couple Leverages a Dental Practice to Reach Financial Independence in 9 Years and Finance 101: FIRE
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Jun 2, 2025 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.
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.
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.
