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• What I’ve Learned

What I Learned:

Here’s a mute point: An orthodontist can make a lot of money.

Here’s a provocative point: Anyone who works in this industry can end up wealthy (even more than the doctors) if they keep their investing habits ….boring.

Last year, numerous articles and podcast episodes were released about how to achieve higher returns, leveraging crypto, stock tips, and in dental: how to take practice sale earnings and invest it in private alternative investments.

Except, the richest orthodontist I ever met had a phrase:

"Earn like a doctor…..but don’t invest or spend like one.”

I don’t doubt that many of the next generation will end up wealthier than the previous. But I also think many of us will end up far worse. And the younger ones are more susceptible to influencers, social media posts, podcasts, Instagram reels, and status games than ever before.

I’m not a financial advisor, but I’m happy to share investing advice someone wealthier than me gave me—careful, this type of advice will never be said on a podcast or land me an interview.

If you know a graduate or younger industry professional—forward this to them. It may be the only exposure they’ll get:

1. Investing is counter-intuitive.

2. Ignore your gut and heart.

3. Follow dispassionate reason.

4. Be disciplined, not clever.

5. It’s a matter of math, not mood.

6. Emotions are the enemy.

7. Investing is easy… unless you try to beat the market.

8. This is only area in your life you should settle for boring.

9. Limit exposure to any expenses, private fees, advisor fees, loaded fees, and active management fees.

10. Be happy with a good enough return from a passive index fund representing the entire economy.

11. Your personal savings rate is far more important than your rate of return.

12. Don’t overthink it.

13. It’s better to do nothing…than something.…when it comes to your money.

14. Keep it simple.

15. Don’t panic. Even if the market drops suddenly.

16. Avoid excitement.

17. Never speculate or compare yourself to others.

18. Be humble.

19. Never think for one second you know the future.

20. Ignore what anyone says, i.e. doomsday news reports, or the next big thing.

The good news: This doctor was 100% confident he could make anyone in this industry a millionaire.

The bad news: Its much more boring and disciplined than you think.

P.S. If you’re interested in another avenue of wealth-creation with real estate, I recommend reading this interview with industry leader Mike Parlante on his ultimate wealth flex.