Dr. David Phelps believes that ordinary Americans are not only worth it economic freedom, but that they have a duty to achieve this with their family, community, and country.
And he has built his whole life around that concept.
This dentist, who has become a real estate investor, has a mission to help as many people as possible with their latest book achieve their financial freedom. Own your freedom.
When he had a successful dental practice in his previous life, Phelps earned a lot of income, but he didn’t have the freedom he has today. That’s because, like many high-income professionals, he traded hours in dollars. This meant that when he was away from practice, his income stopped.
She didn’t see any problems until her daughter had a health crisis — leukemia and late-stage liver failure — when she realized that despite her income, she really didn’t have any financial freedom. That was something she desperately needed to spend time with her daughter and help her through this challenge.
Most of it worked out in the end.
Not only did the daughter survive, she became a healthy, happy, and successful adult. His marriage did not survive, as is often the case in such situations. And dental practice — well, that sold out as soon as she found out about her daughter’s health.
“I knew that my practice would affect the way I helped my daughter the way I needed to. And I knew I needed to restructure my life, both in terms of income and time to give the best shot to win this fight, ”he explained.
So Phelps evaluated his options, corrected the numbers, and decided that real estate was the best way to move forward.
Invest in lessons learned
He then incorporated them all, investing in real estate profits from the sale of his practice. He initially suffered a financial blow, but as he continued to acquire more assets, his passive income grew.
He didn’t spend much time with his real estate investments doing more than dental practice. Along the way, his friends, a dentist friend, began to ask him about his new life. They wanted to know how he was helping after his practice was sold, especially since they saw that he now had more freedom in his schedule.
At first, he shared what he had learned. And he learned a lot, which completely changed his approach to investing.
Phelps explains, “Most financial professionals encourage a model that tells us to invest in stocks like bonds, bonds, and CDs, and then when we retire, we start selling those assets to finance our lives. When you invest in real estate by following the right strategies, you will get passive income while the assets are valued, and over time the passive income of that asset will also increase. “
His advice quickly turned to the real estate business he wanted to invest with. It later became Freedom Founders, which is a combination of a head group and an investment community where members pay a fee to join the group and then teach financial principles, practice thinking, and collaborate on real estate deals.
But due to travel, time, and cost commitments, the Freedom Founders association was not in the hands of most Americans.
The Genesis of the Book
Phelps wanted to find a way to help more people achieve financial freedom. He wanted to empower everyone, regardless of their current economic situation, to become rich. So he began to put his principles in his last book, Own your freedom. Especially Americans see it as a model for building real wealth regardless of the situations we face.
“We are facing a questionable economy between rising inflation and national debt, the pandemic, the abandonment of culture and the government’s intrusion into our businesses and lives. And in the near future, it will probably get worse.
So I wanted to help others achieve greater stability and wealth. I wanted it to be the same success that I had, because the positive impact goes beyond one’s family.
Their wealth contributes to other entrepreneurs, local communities as well as the nation through greater economic activity. That’s how we create a profound positive impact on the world, ”Phelps explains.