Financial independence is your ultimate goal. But it won't happen if you don't plan for it! To help you achieve financial health as early as possible in your career, Kirk Behrendt brings back Dr. Jim McKee, founder of Chicago Study Club, to share great advice that you didn't hear in dental school. To learn how to make smart investments, be debt-free, and enjoy your life, listen to Episode 723 of The Best Practices Show!Learn More About Dr. McKee:Send Dr. McKee an email: [email protected] Join Dr. McKee on Facebook: https://www.facebook.com/jim.mckee.104Register for Dr. McKee’s Advanced Occlusion workshop (July 25-27, 2024): https://campus.speareducation.com/workshops/advanced-occlusion/details/syllabusLearn about Chicago Study Club: https://chicagostudyclub.comMore Helpful Links for a Better Practice & a Better Life:Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listenJoin The Best Practices Association: https://www.actdental.com/bpaJoin ACT’s To The Top Study Club: https://www.actdental.com/tttSee the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/eventGet The Best Practices Magazine for free: https://www.actdental.com/magazinePlease leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218Episode Resources:Watch the video version of Episode 723: https://www.youtube.com/@actdental/videosMain Takeaways:Understand the difference between financial freedom and financial independence.Financial independence won't happen unless you start planning for it.Be smart about all of your investments, especially equipment.Quality CE is one of the best investments you can make.Keep your office and personal overhead low.Know the 1:1, 2:1, and 3:1 concept.Get in the habit of saving.Snippets:0:00 Introduction.1:33 Why this is an important topic.3:15 Financial freedom and financial independence, explained.6:12 Why you need financial guidance.9:20 The 1:1, 2:1, and 3:1 concept.14:21 Learn how to save and spend wisely.16:35 Invest in quality continuing education.24:12 Keep your office and personal overhead down.25:39 Give patients options.28:36 Dentists who need the money versus ones that don't.32:36 Final thoughts.Dr. Jim McKee Bio:Dr. Jim McKee is a member of the Spear Resident Faculty. He has maintained a private practice since 1984 in Downers Grove, Illinois, where he treats a wide variety of

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