3 Doctors. 3 Choices. 3 Different Outcomes.
Adam, Billy, and Charlie grew to be inseparable during medical school. They each came from the middle class and were the first of their family trees to go to medical school. They were ambitious but shared a common thread of decency and integrity.
All 3 men would marry early and have 2 children; however, their lives were about to deviate into 3 completely different trajectories that would leave them worlds apart in 3 decades.
Meet the Doctors.
Dr. Adam was the high roller. He was always the life of the party and a big risk taker. He developed a love for sports betting in college that continued into his professional life.
He and his wife loved to travel, enjoyed a McMansion, and regularly purchased new cars. From the outside, he ticked all of the boxes that a successful Doctor was supposed to— he knew all the right people and made donations to all the right causes.
But under this veneer of perfection, his marriage and his finances were in shambles. Their monthly income never seemed to be enough to cover their appetite for the finer things. Sure, he maxed out his retirement plan and thought his investment advisor was the best (except for the time they lost half of their savings), but when he took a good, hard look he wasn’t sure he would ever be able to retire. Sending two kids to private school and prestigious colleges just about undid him.
He was able to salvage his marriage but the stress and anxiety left him very worried about the future.
Dr. Billy was Dr. Adam’s polar opposite. He was very conservative with his words and actions. He worked from sunup to sundown, missing time that he could never get back with his wife and young children.
They never went on vacations or splurged any luxury items or status symbols because he was too worried they wouldn’t have enough money to pay the bills or retire one day if they did those things. Since Dr. Billy didn’t trust financial advisors, he had to educate himself on investing.
He was very conservative and never wanted to lose a dime (but he did – on multiple occasions – though he’d rather talk about his big wins). They lived below their means but didn’t enjoy the ride. The kids went to public school and community college.
Dr. Billy was confident his prudent spending and frugal mindset was enough that he should be able to retire one day after the kids had gone off to college and maybe be able live frugally with his wife off of his retirement savings – if the stock market didn’t crash.
Dr. Charlie took yet another path that diverged from those of Dr. Adam and Dr. Billy. He was always interested in business and investing and read a lot of books. He even joined a group of like-minded investors even though he had only been practicing a few months.
His family lived within their means, and he was a focused saver. He learned about alternative investments and utilized self-directed retirement accounts to supplement his growing portfolio of tangible assets such as real estate properties. He and his wife liked to travel and his kids appreciated the time they got to spend playing ball and going on outings with their dad.
Dr. Charlie’s passive income from his investments meant that he didn’t have to stress about work, the stock market, or even retirement.
30 Years Later…
The three men got together 30 years after starting their medical careers. It felt as though no time had passed since they first met, got married, and started families; however, the years flew by and here they all were staring retirement in the face. After spending the day together this is what they said….
Dr. Adam – We spent too much money and put too much trust in the “system”. I thought I was doing what I needed to by maxing out my retirement plan. We should have utilized a budget and learned about alternative investments instead. They say it’s never too late to start so my wife and I are committed to learning some alternatives that will provide us with enough passive income to be comfortable!
Dr. Billy – I should have been home more. I thought I had to provide for my family by working all the time, but I wish I had learned how to have my money work for me so I could be there when my kids were growing up. Fortunately, they still like me, but now I want to learn about passive income streams so that my wife and I can go on a nice vacation with our kids to make up for lost time and spend our retirement comfortably on the lake.
Dr. Charlie – Wow, I guess I didn’t know how well I had done. I just surrounded myself with good, honest, successful people. I asked for help and implemented the good advice I received. I’m so fortunate to have had some great mentors along the way and I’m very excited that my friends want to learn more about what I’ve been doing.
Moral of the Story:
These doctors are obviously fictional but I hope that you saw a little bit of humanity in each one. Life is difficult and presents many challenges. If you try to go at it alone or put too much trust in someone else you may very well be disappointed.
Why not enjoy the ride and learn how your dollars can work for you (instead of you working for your dollars)?
There is a path that is available to make this happen right now and if you want to learn more about it, please come to our next High Speed Alliance event. We offer business, personal, and life coaching as well as a full-spectrum education on investing in traditional and alternative investments.
You will be introduced to a community of like-minded individuals, most of whom are self-employed, who utilize these techniques to grow their families, communities, and seek to leave a legacy of success.
The Bible says in Proverbs 13:22 that “…a good man leaves an inheritance for his children’s children”. That is the type of Legacy that High Speed Alliance is committed to building for each and every one of its members.