What Farmers Can Teach Dentists About Wealth Creation
Episode 184, Sep 24, 2019, 05:30 PM
Episode 184 of the Savvy Dentist Podcast is a very interesting chat with Terry Tran who runs the Freedom Trader. The Freedom Trader is “ a community for normal, everyday investors who want something more out of their lives.” The company teaches based on his Philosophy of Financial Risk Management.
Terry teaches financial freedom to people outside their current job without taking unnecessary risks because we know that creating wealth outside the business can really give you total freedom.
In this episode we discuss:
- [02:32] Terry tells us about his business and how he found his way into it.
- [04:00] How his experience shaped and affected him and his family.
- [06:52] Terry’s emotional response to losing $100,000.
- [08:48] The things that made Terry a really good student.
- [10:20] Differences between good and mediocre investors.
- [13:10] The financial weeds we need to be mindful of.
- [16:24] Steps to mastering fear and greed.
- [18:11] Common challenges for business owners creating wealth outside their business.
- [20:02] Mistakes that people make when creating a 2nd stream of income.
- [22:08] Interesting things that have surprised Terry in his own journey.
- [23:51] How the market changes.
- [26:28] Topics to be covered by Terry in the Practice Max event.
- [27:41] Terry’s tip on creating wealth outside the business.
- [28:55] The power of compounding.