Medical Professional’s Guide to Traveling More and Working Less Through Real Estate Investing
Medical professionals work incredibly hard with their minds, bodies, and hearts.
We’ve seen this even more as they’ve shown up to care for patients through a global pandemic. During extreme natural disasters and even more incredibly intense events.
It’s no surprise that these people need to take a vacation more than most.
Running a practice and caring for patients, especially when dealing with the operational stresses of managing a business…
Well, it doesn’t leave much space for traveling more and spending quality time with friends and family. Yet, these individuals may need it more than most.
As a doctor, dentist, or nurse, it’s easy to get bogged down by the daily demands of your work, leaving little time for leisure or travel.
Fortunately, there’s a solution. It can help you:
– Reduce your workload
– Prioritize your well-being
– Achieve greater financial freedom
Real estate investing does more than build wealth. The passive income, tax benefits, and equity growth?
They can allow doctors and dentists, among others, to travel more and maintain a healthy well-being.
But how?
In this article, we’ll explore the benefits of using passive income from real estate investing to travel more.
Not to mention, we’ll cover how even medical professionals who own their own clinics can take the time to travel more.
Common Objections From Doctors and Dentists To Traveling More
As a medical professional working in someone else’s practice or managing your own practice, it can be hard to think about traveling more.
You are used to working countless hours, making high-level decisions, and having to continue paying the bills at home and in your business.
Each of the following objections are absolutely valid. However, every limitation starts with a limiting belief or an idea that prevents you from seeing a solution.
Let’s take a look at these common reasons why traveling more can be daunting for doctors and dentists, and see if we can find the limiting belief.
#1 Objection: My Responsibility Is Too Great
As the owner of a medical practice, you have a lot of responsibility for your patients, staff, and the overall success of the practice.
If you left to travel, how would it all get done? This idea can make it difficult to take extended time away from work, as you may worry about the impact of your absence on the practice and the loss of income from not working.
This is an objection common among business owners. The truth is that every business can be built to run without daily input from the owner. In fact, that is why most of us start businesses to begin with.
By investing your income into passive real estate investing, your wealth continues to grow and your income can even be replaced by cash flow. As you develop systems to delegate management duties, you’ll begin to find that your true responsibility is to live your life with intention.
If that means taking more time to relax and travel, then your business will likely benefit from the prioritization of your own health. Your patients may even get better care as a result of you traveling more.
#2 Objection: I Have Too Many Financial Obligations at Work and Home
Owning a medical practice can be expensive, with overhead costs that must be paid regardless of whether or not you’re working.
This can make it challenging to justify the expense of traveling, especially if it means taking time away from work and potentially losing income.
Being wealthy is really about having time. You likely became a doctor or dentist partially for the financial security promised in the medical field. Now that you have reached a higher income bracket, you may find that your health has been sacrificed to maintain your financial obligations.
Getting your money to work for you is the first and most important step in releasing your financial obligations from their control over you.
The cashflow from real estate can eventually replace your income and the tax benefits can reduce your tax bill – putting more money back into your pocket. Real estate investing can provide freedom from the financial stress of earning a high income and running your own business.
#3 Objection: My Workload Is So Big That I Can’t Take Meaningful Time Off
Running a medical practice can absolutely be a demanding and time-consuming job, leaving little room for leisure activities like travel. You may feel overwhelmed by the workload and worried about falling behind on important tasks if you take time away from work.
First, recognize that taking time away from work is not a sign of weakness, but rather a necessary part of maintaining your health and well-being. Remind yourself that you deserve time to relax, recharge, and pursue your personal interests.
Consider using time management strategies such as blocking off specific times for patient care or administrative tasks, prioritizing urgent tasks, and scheduling regular breaks throughout the day. This can help ensure that you make daily shifts that open your mind to the possibility of taking larger blocks of time off.
With real estate investments supplementing your income, you can reduce the financial burden of taking time off so that you can focus on shifting your workload.
Finally, Plan your travel well in advance, delegate tasks early, and communicate your plans with your staff and patients. This can help manage expectations and ensure that everyone is on the same page.
#4 Objection: My Personal Values Are to Help Other People First
As a healthcare professional, you may feel a strong sense of duty to your patients and your community. It is probably why you became a doctor or dentist to begin with. You may worry that taking time away from work to travel could be seen as neglecting your responsibilities or betraying your professional values.
However, what type of care are you providing when you are stressed about running your business, paying high taxes, or neglecting your physical and mental health? Probably not great.
Your patience deserves care from a medical professional who is living life to the fullest.
This may mean that you need to shift your belief about how much time you need to spend delivering quality care to patients. Perhaps by prioritizing your own health and travel goals, you can serve others even better. Along the way, you may find your own relationships and health improve.
Use the Lever of Real Estate Investing to Travel More
Overall, it can be challenging to balance the demands of owning a medical practice with the desire to travel more.
However, with careful planning, delegation of duties, and a strong support system…
It’s possible to achieve both personal and professional goals.
By investing in real estate you are adding a significant lever to many of the challenges of traveling more.
Passively investing in real estate can reduce the financial stress associated with high income. This happens through ongoing cash flow, appreciation of assets, and significant tax benefits – something every high-income earner can use more of.
It’s important to address these objections and concerns in any discussion of the benefits of traveling more as a doctor or dentist.
It may be daunting initially, but living your life with more intention can have positive ripple effects on the way you show up for your patients, your family, and yourself.
It is possible to overcome every one of these limiting beliefs.
Start with learning more about how passive income can give you more of your freedom back and you’ll start to see other objections to traveling more dissolving.