Think about wealth like this – how can we know what our options are until they are explained to us?
Lets use the patient dentist interaction as an example of this.
If a patient arrives in our surgery complaining of “grumbling pain in a tooth at the back with an old filling”… We are already building a picture in our head of what their ailment might be.
When we take a PA we see an area on a tooth and our diagnosis is confirmed to be PA periodontitis.
Following our diagnosis and providing the tooth is restorable we can then explain the three standard treatment options for this issue. These are 1. RCT 2. XLA and 3. Monitor.
“Ahh” says the patient – to them it all makes sense and they can select the treatment option they prefer. The patient can then proceed with clarity.
In this instance there are three paths we can proceed on.
IMPORTANTLY we must understand that before the patient enters the room they have no idea there are even three options… nevermind what the options are.
The patient may have some uniformed or distorted concept of how this pain is treated until we advise them.
For example, how many times have we all heard “cant you just do a filling?” in this exact scenario.
They may even think we can remove the tooth, clean it out and then somehow suture it back in!
The point is that they dont know what their options are until someone UNBIASED and INFORMED permits them to understand.
The patient is in pain and through knowledge they are able to make an choice via INFORMED CONSENT.
Until we start to think about wealth we are EXACTLY like that patient before they enter the room.
Some will linger outside the room for many years and some will CHOOSE to enter it.
The pain/discomfort we experience is financial and emotional rather than physical.
With finance there are a multitude of options rather than just three – one thing is for sure and that the second we choose to educate ourselves is the sooner we can make an informed decision on our path to wealth.
The point of Dentists Who Invest is to give you the treatment options for your wealth and therefore empower you to decide.
*Not Financial Advice
Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional.
Introducing Warren Buffett Introducing Warren Buffett Sir Isaac Newton, the famous English scientist, once said, “If I have seen further, it is by standing on the shoulders of giants.”With that
What Is Your Definition Of Retirement? What Is Your Definition Of Retirement? Re-reading “The Almanack” by Naval Ravikant – this passage always makes me think.What is your definition of retirement?Retirement
We Need To Talk We Need To Talk And I don’t just mean some sort of long overdue friends/family intervention… 🤣I mean we all quite literally need to get better
99% Of Investing Info On The Internet Is B.S. 99% Of Investing Info On The Internet Is B.S. Yep – its true. Most of the investing stuff you see out
How Much Money Do I Need To Be Happy? How Much Money Do I Need To Be Happy? How much money do I need to be happy?This is a great
Your Stocks and Shares ISA And Pension Will Not Give You Cash Flow (….sort of) Your Stocks and Shares ISA And Pension Will Not Give You Cash Flow (….sort of) Where cash
Should I Trade Or Should I Invest? Should I Trade Or Should I Invest? The age old question. ?I guess we should start by defining the strategies of trading vs