Thursday, May 24, 2018
Page 2

3 Things Halloween Trick or Treating taught me about Business


It’s 6pm on Halloween 2017. We’re in a quaint NC neighborhood and my 3 girls are dressed as the Power Puff Girls. My wife is their creator, Professor Utonium, and I choose to be their nemesis, MOJO JOJO! It was a great night and we had fun as our neighborhood was taken over by costumed kids and adults!

While pushing our 2-year-old around in the stroller, a few business and life lessons stuck out to me.  I’m sure the spiked apple cider one of the neighbors gave out helped spur my mind…;)

  • 1.  Trick or Treating, like sales and business, is A NUMBERS GAME.  The more houses we visited, the more candy we received.

We went to some houses where no one was home.  We went to a few houses and the candy bucket was empty.  But as we persevered, we found the majority of homes had amazing candy and toys for the kids, and drinks for the adults.

  • 2.  BE SPECIFIC.

My 2-year-old knows exactly what she wants and when she wants it.  On Halloween, she has to be very specific because she has a peanut allergy.  So I helped her tell the candy-givers after she said, “Trick or Treat,” to also say, “No peanuts please.”

When you’re making a business call or presentation, you need to BE SPECIFIC and ask for what you want.  I’ve made the mistake so many times of pumping up my company and telling potential customers about all our amazing bells and whistles.  Then I leave without ASKING FOR THE BUSINESS or asking them to make a SPECIFIC DECISION on how we move forward.

  • 3.  BE CREATIVE.

After Halloween, no one is talking about the Count Dracula that visited their house or the Witch that stopped by on the broom.  Instead people are talking about the 2 parents dressed up as ice bags holding the baby (ICE, ICE Baby… get it!) or the family dressed up as Bob Ross, his paint board, and the tree scene he always paints.

In business, you need to figure out how to be memorable.  When prospects need your product or service, do they remember you?  Maybe you wear a bright shirt or tie so people take notice.  Maybe you do a play on your name like my friend, Steve Hand of, who always slowly waves his hand in front of the crowd as he introduces himself.

Do you currently have a way to help your prospects remember you?  What can you do so that your prospects remember YOU when they need your product or service?

I’m sure there are a ton of other business or life lessons that could be taken from Halloween.  What did Halloween or Trick or Treating teach you about Business, Sales or Life?  Comment below!

A Doctor Gets Terrible Advice on National Radio


It’s hard to find quality financial advice that is specific to physicians and student debt. That’s one of the reasons I started my firm, Physician Wealth Services. It’s also why I was so angry when a client sent me this clip from the Dave Ramsey show where a young doctor called in and got terrible advice.

If you’re not familiar with Dave Ramsey, he’s actually one of the most successful financial “experts” in America today. He has a nationally syndicated radio show, a pile of bestselling books, and a flourishing company located in Nashville with over 600 employees.

Unfortunately, despite all of his accolades, he gave terrible advice to a physician who called in to his show asking for help. Not only that, he was pretty rude to him too.


On the clip, a physician named Rodrick from Pittsburg called and asked for advice about his $670,000 debt load. He’s a family medicine resident married to a psychiatry resident. According to the call, this number includes combined debt for both of them from medical school, graduate school, and undergrad.

As residents, they have a combined $108,000 household income. When they graduate from residency, they have a projected $400,000 household income.

However, Dave questioned his ability to get $200,000 a year in family medicine. He thought his income would be 25% lower. (Depending on where they ultimately live, though, geographic arbitrage is very real and could be used in their advantage.)


When Dave Ramsey heard all of this, he exclaimed “What a mess!” Then, he proceeded to tell him that if he had that much student loan debt he would be “disgusted, confused and in panic mode.”

Of course, those of us who are in physician families know high levels of student loan debt is the norm. In fact, the average amount of debt my physician clients have is roughly $200,000 – $300,000.

Rodrick’s situation, while not ideal, is not a “mess.”

I wish this was a total summary of the conversation, but unfortunately, Dave said even more to this physician to embarrass him on national radio. To hear what Dave said, view my rebuttal, and learn how I view student loan debt (which is a bit different than most) visit the full post HERE.

Worried About the Equifax Data Breach? Here’s What to Do:


Over the past few days, I’ve received several e-mails and phone calls from my physician clients asking me what to do about the Equifax data breach.

So, I thought it was important to quickly explain what the Equifax data breach means, and what to do if you think your information might be compromised.


Equifax is one of the three main credit bureaus. This means that they have your name, social security number, birthday, addresses, license number, and more.

Whenever you want to check your credit report, Equifax is one of the places you go to see it. So, needless to say, they have a lot of information about you.

Last week, it was announced that hackers broke into the Equifax database, which affected 143 million Americans.


There are a few things you should do if you think your information was compromised.

This includes enrolling in Equifax’s credit monitoring service, getting a copy of your credit report, and freezing your account.

To get full details of each of these next steps as well as links that explain how to accomplish each one, please reach the full blog post on the Physician Wealth Services blog.


You can keep an eye on your credit report through a free service like Credit Karma. This is what I use personally, and it’s easy because you can dispute items on your credit report right through the Credit Karma website.

Also, don’t forget about your spouse and kids. Sometimes, children’s social security numbers are more vulnerable when there is a major security breach like this one because many people forget to freeze their children’s credit files.

Ultimately, I hope this information helps. To read more details about the breach and find out how you can see if your information was affected, visit the full post HERE.

Can Physicians Really Make Money Doing Surveys?

physician surveys
physician surveys

As a physician, I am always looking to supplement my income. Surveys are a great way to do that on your off time. Initially, it was hard to find surveys that paid well and/or catered toward physicians. Over the years, I have compiled a nice list of physician survey sites and their specific contact information. Some physician surveys can pay up to $250 + for an hour of your time. That is more than what most doctors make per hour. They key is to register for as many survey sites as possible and fill out your complete profile. This way you get surveys you qualify for and get more of them. Will this make you rich? Of course, not.   But, it can be a significant source of supplemental income. So, take a look below, register and get started today so you can…

*pay off you student loans faster

*pay off bills quicker

*save more for retirement

*start you kids’ college savings plan

*take that vacation you always wanted to take

*much, much more

There are several companies and websites that allow you to do surveys from the comfort of your home or even from your smart phone.  Check out the full post of physician surveys.

Ronny Abraham, MD

Andy’s SAHD Journey: Student to Full Time Daddy to Travel Consultant

In my mind, I was going to get all these projects done around the house. Yard work, painting, clean the garage, it was going to be awesome!

Boy, was I in for an awakening, lol.

Lets just say, I never drank coffee until my son was born.

Vans Custom Shoes: Unboxing and Review


Custom made Just For You!  How awesome is it to hear that?  How often do we get something that is CUSTOM just for us?  For me, not often.  With 3 kids running around, I can’t even get alone time on the toilet, let alone something custom-made just for me.

Well DMD Lifestyle is proud to partner with the VANS Shoe Company, but specifically, I want to highlight their Custom Shoe Program. 

The Best Way to Buy a Car

physician wealth services buying a car personal finance doctor

Whenever I meet with a client for the first time to create their financial plan, the topic of buying a car always comes up. My clients usually want to know how much can they afford to spend on a car, and what is the best way to buy a car. They want to feel like they’re getting a great value for their money while purchasing something they really want.

Plus, since I work with physician families, many of them want to know if they can buy a new car, how much they should spend, and how they should go about getting the best deal with the limited amount of time that they have.

Many of my clients drove old or run down cars throughout their training and want to upgrade their vehicles now that they’re fully fledged physicians with real physician incomes.

So, because this is such a common question, I thought it would be best to break down my method for buying a car. After using this method to buy my own vehicle, I’m confident it’s the right way to buy a car to ensure you get the best value without sacrificing your precious time.


This step probably isn’t that surprising, but it’s important to know what you can afford to spend. I recommend my clients pay cash for their cars if at all possible unless for some particular reason there’s an extra incentive if you finance it at an extremely low rate.


Everyone has a different reason for buying a car. For example, when I bought my Tundra, I purchased it specifically because my wife was pregnant with our first child and I valued safety and size over MPG.


I prefer to buy new cars. I know this is controversial advice in the personal finance space, but to me, it was an investment in my family’s safety and future, something I consider absolutely priceless.


My clients are physicians and so they don’t want to spend an entire Saturday test driving cars, negotiating, and dealing with salesmen at the car dealership. That’s why I recommend a little something I call negotiating from the couch.

To learn my step by step method of negotiating from the couch, and how I used it to buy a brand new truck with less than one hour spent at the dealership, check out the full post on Physician Wealth Services.




The younger physicians I help with their financial planning often have questions regarding saving for college for their children. So, I thought it would be helpful to write a post to explain what a 529 college savings plan is and if it’s even worth opening.

Like everything else in financial planning, the answer to this question will really depend on your current financial situation and the goals and objectives that you want to achieve.

WHAT IS A 529?

A 529 is a savings account designed for higher education (college).

Yup, that’s it.

You put money in, watch it grow over the next 18 or so years, withdraw from the account during the time your child is in college. Genius, right?

I could give you more details with fancy words, of course, but that is the most simplistic definition. It really is just that easy.


Investing in a 529 makes the most sense when you have all of your other priorities on track.

You can find out if you’re on track by asking yourself a few questions:

Do you know how much money comes in (earned income) and how much money goes out (your spending) every month?
Are you fully saving for your retirement in your 403b/401k and maxing out your IRA’s?
Do you have an adequate emergency fund set up and fully funded?

Saving towards a 529 plan also makes sense when you have a reliable and significant amount of money to contribute and you can contribute the money early in your child’s life.

It really doesn’t make sense to set up a 529 plan for your freshman in high school. The earnings growth potential is quite limited with such a short investment time horizon. Plus, the tax benefits will more than likely not outweigh locking your funds into a 529 account. The longer the length time between now and when your child will need the funds for college, the more it makes sense to invest in a 529.


A 529 will not lower your taxes by contributing exactly it like your 401k does. There are, however, 30 or so states that give a tax deduction if you live in that state and contribute to a plan in that state, but that isn’t always the best option.

There are even more benefits to a 529 plan as well, which I explain in great detail in the full post on Physician Wealth Services. In the full post, I also share the two 529 plans I typically recommend to my clients, when you shouldn’t invest in a 529 plan, and my trick for funding my own children’s 529 plans. Check it out HERE.

SoFi – Student Loan Consolidation

SoFi Refinance

Being married to a busy professional typically comes along with student loans and tons of debt.  Friends of ours will often joke about how they would love to “roll in the dough” like [THEY THINK] we do.  What they almost always forget, is with a great job title and income typically comes an even greater debt load!

DMD Lifestyle is proud to be an affiliate partner with SoFi, who have revolutionized the world of student loan and debt consolidation.

Click here to see how much SoFi can save you on your loans!

For Whiskey Lovers – Order your whiskey online

For Whiskey Lovers

It wasn’t until I became a dad that I discovered my love of whiskey.  Being a Tennessee boy, whiskey is in my blood.  I discovered Jack Daniels in college and shortly after, began seeking out Kentucky Whiskey and Bourbon, Japanese Whiskey, and have worked hard to try whiskey from all over the world!

From one of the members of our private Facebook community, I learned that there is a whole website and community built FOR WHISKEY LOVERS!

Use our affiliate link below and shop their large collection of whiskey (and bourbons) and have it delivered right to your door!

Click here to place your Whiskey order!

To take your Whiskey drinking experience to the next level, try drinking from the Norlan Whisky Glass


Whiskey Lovers Explorer's Club

Recent Posts