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Cashflow quadrants6/21/2023 ![]() Write these things down and keep them always in your mind. How much time and effort do you want to put into this?.Do you want to be a business owner, investor, or both?. ![]() Do you want to retire early? At what age?.Are you happy where you’re at, and do you desire financial freedom?.In reality, the journey will never be a straight line, but in order to continually course correct, it helps to know where you're trying to go. Without your eyes on the finish line, it's hard to know what direction to run in. I suggest using Personal Capital if you don’t already. Or have you already begun your journey to the right side?Īdditionally, you need to know what your net worth is, as well as your expenses.Identify your position in these quadrants. ![]() Make sure you’ve read my first post, and for even more info, read Robert Kiyosaki’s book. It’s key to be very familiar with the concept of the cash flow quadrants and to understand it well. How do we move from the left side of the quadrant to the right side, where we want to be? Here are some practical steps to get there: Step 1 – Understand the Cashflow Quadrant The right side of the quadrant is where financial freedom sits. If you can achieve this, then you’ll be practicing medicine on your own terms, and for the pure love of treating and caring for patients.īut to accomplish this, we need to be able to rely on other, more passive forms of income. I’ve said it before and I’ll say it again: I believe that for most of us, the secret to a happy career in medicine is to make it a hobby. If this doesn’t sound familiar to you, please go back and read the first post! Once you have, let’s dive right into part two. Unfortunately that often puts us in a situation where we might make a decent income, however we're short on the most precious resource, time. In short, most physicians live on the left side of the quadrant, where we trade time for money. We also divided the quadrants into two sides: the “active income” side (left) and the “passive income side” (right). In my previous post, I explained the concept of the “cashflow quadrants” and where most doctors fit into it. ![]() The first explained what the cash flow quadrant is and in this second post, we’ll talk about how doctors can apply the cash flow quadrant to achieve financial freedom. This is the second post of a two-part series on the cash flow quadrant. ![]()
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