FREQUENTLY ASKED QUESTIONS
We often get similar questions from time to time. As a result, we have answered them below to the best of our abilities. We hope you enjoy and found them helpful.
Q: Why did you start a website?
A: First of all, my wife and I are passionate about our time and have been looking for ways to earn more time with our children, family, and friends. Through financial education, we realized that it can be done.
Secondly, as a physician, I realized that I didn't know much about financial education and to no surprise, neither did my colleagues. In fact, most people don't know much about it at all.
Lastly, we found ourselves sharing information and ideas over and over again with many others. We quickly realized that we could expand our reach and be more efficient by using a website medium and InvestForTime.com was conceived.
Q: What message are you trying to convey?
A: The importance of financial education, the need to develop a plan, and the appropriate actions to execute it. There is no "get rich quick" but persistent consistent hard work.
Q: Where did you get your financial education?
A: I have attended various seminars, read books, listened to many audiobooks and podcasts, and spent thousands of dollars in investing in myself. One of your greatest return on investments will be investing in yourself and I hope you do it daily.
Q: Who are your favorite authors?
A: Robert Kiyosaki, Robert Allen, Ken McElroy, David Lindahl, Napolean Hill, Garrett Sutton, Tom Wheelwright, Dave Ramsey, Matt Theriault, Jason Hartman, and many others.
Q: Do you own investment real estate and where do you invest?
A: Yes I do and I plan to acquire more in the future. I presently own real estate in 4 different states.
Click on the Real Estate tab above for more information.
Q: Isn't it too risky to be investing?
A: Yes, it is very risky when someone you don't know is investing for you and their interests are not aligned with yours. When you are investing in something (stocks, funds, bonds, etc) you don't understand is the most risky in my opinion. Unfortunately, this is the case of most 401(k), 403b, and the likes.
Q: Do you have a 401(k) and do you contribute to it?
A: Yes, I have a 401(k) and present laws prevent me from rolling it over unless I discontinue my employment with my current employer.
No, I do not contribute to my 401(k). I don't trust anyone with my hard earned capital and neither should you. Don't get me started, stay tune and it will be a topic of one of my future blogs.
Q: What type of retirement accounts do you have, if any?
A: I have a self-direct IRA LLC with checkbook control. It allows me to invest in nearly everything with a few minor exceptions. I have purchased real estate with it and made loans to other investors with it.
Q: Will investing be easy?
A: No. Anything that is worthwhile in life will not be easy. It will take time and dedication to become proficient at it.
Q: Have you made any mistakes & what were they?
A: Yes. Most investors, if not all, have made some kind of mistake. I've been to the school of "hard knocks" and have learned and grown from that.
I purchased a home in a predominantly rental neighborhood with the intention of retail sale as an exit strategy. I learned a good lesson and this is one I hope you will never repeat because you are reading this right now.
Q: What is your goal?
A: To be a full time father, full time husband, and part time everything else. To teach, learn, share information and ideas. To help others do the same if it is their desire.
Q: Why invest for time?
A: Thought you'd never ask. Sooner or later, everyone realizes that time is the one thing we wish we had more of. Similarly, we wish we could have spent more time with our children, family and friends.
As a physician, I have had the opportunity to see this first hand over and over again as I stood at the bedside of my patients during their final minutes.
What will you say during those final minutes? Take action now and change your story.
Q: What kind of doctor are you?
A: I am board certified Family Medicine physician and I have a full time practice in a large multi-specialty medical group.
Q: Any final words for the Q&A session?
A: Please educate yourself, take action, & earn your freedom. Learn to question and think for yourself. Just because others are doing it doesn't mean you should too.
Don't wait to invest, invest then wait.
Have some fun along the way, life is indeed too short.