Podcast Episode #528: Financial Wisdom Before Retiring & The Ultimate Patient Experience – Dr. David Moffet
Episode #528: Dentist Freedom Blueprint Podcast
Financial Wisdom Before Retiring & The Ultimate Patient Experience – Dr. David Moffet
Joining the podcast today is, Dr. David Moffet, creator of The Ultimate Patient Experience, and a dental practice management and profitability expert. He shares his journey from running a highly profitable dental practice to selling it in 2007, and the steps that led to his transition into the coaching world, and what dentists should focus on before exiting practice.
Dr. Moffet discusses his philosophy of practicing for longevity versus quick fixes, and providing a great experience for your patients. We also discuss the power of networking and masterminding with like-minded professionals to accelerate personal and professional growth, why you shouldn’t blindly trust financial advisors or government-regulated retirement accounts to safely retire, and much more!
Minute Markers:
02:46 – David Moffet’s journey from selling his practice to becoming a coach.
04:30 – What first got David to consider sharing his dental knowledge.
05:21 – How David’s dental practice became the first corporate rollup in Australia.
07:11 – Making the practice sale money work for you, and the con of being unable to use your 401k.
10:30 – How the government continues to change the rules for retirement.
12:04 – The hard lesson learned when the stock market crashed.
13:49 – The importance of planning and not putting all your eggs in one basket.
16:30 – Why David acquired a philosophy of longevity instead of quick fixes.
20:32 – The power of having a dental practice where patients know better care is worth the extra dollars.
21:41 – How The Ultimate Patient Experience was born.
24:32 – The power of connections in a mastermind.
25:26 – The move David made into group coaching and what life looks like for him today.
30:20 – The problem with not having a plan for when you exit your practice.
Featured on the Show:
David Moffet Facebook | LinkedIn
The Ultimate Patient Experience
Scaling Time vs Wealth Book
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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) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
1. 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.
2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.