Show Notes
Welcome to The Big Mike Fund Podcast. Today I’m talking with Dr. Merril Rowe, who is moving from his profession as a professional dentist and changing to a career as a professional passive investor. We met through the Freedom Founders community, run by David Phelps. On this episode, we’re talking about how Merril buys himself time to make his financial and retirement goals, how he sets up his portfolio, stock market investing versus passive real estate investments, and advice on how to bring in some passive income.
Minute Markers:
00:35 – Hey Merril
00:44 – All About Merril
03:13 – Career change into passive investing
04:10 – How Merril generates cash
07:40 – Stock market versus the passive real estate market
08:15 – The rates of return after conversion
10:45 – Diversification and knowing your financial goals
12:29 – Merril’s advice for those getting ready to retire
17:20 – Specific investments and the Tempo Opportunity Fund
25:52 – Merril’s experience with turnkeys
30:25 – Funds and syndications
31:25 – Merril’s additional thoughts and recommendations
35:22 – Thanks to Merril and a final summary
36:15 – How to reach Merril
37:42 – Thanks for listening to the Big Mike Fund Podcast
Quotes:
“But for me, most importantly, it was based on my lifestyle and what I wish to do with my life after I get done with dentistry. Was this going to provide me with the money that I wanted to go ahead and live my life the way I chose?” – Merril Rowe
“Understand, (a) what your basic needs are, and (b) what your wants are. Put it all down on paper because what you need to retire and what you would really like to retire are very often different things.” – Merril Rowe
“First off, you have to learn about this stuff. But secondly, what you do after you learn about it is you look at your situation, you look at the market, you look at your opportunities, and you invest appropriately.” – Merril Rowe
“You’re certainly still working and enjoying a little bit of active income, but you’re preparing to go completely passive. From that perspective, you’re ready to turn off the working switch any day of the week if you feel like it but because you’re enjoying the work, you’re still doing it, and you may sell a practice some point in the future, you don’t have to do this.” – Mike Zlotnik
“You’re building a diversified portfolio. You’re not putting all your eggs in the same basket, you’re spreading the risk around, and that helps reduce the risk because you never know.” – Mike Zlotnik
Resources:
Merril’s Email: [email protected] (reference Big Mike in the email)
