The Davenport Institute Life Capitals™ Doctors Program Outline

Module 1: Understanding the Economic Landscape for Physicians

  • Lesson 1: The State of Physicians in Modern Healthcare
    - The challenges physicians face in today's economic and medical environment.

    - The impact of healthcare industry changes, legal reforms, and insurance company dominance.

    - Understanding the burden of running a practice while managing personal and professional life.

  • Lesson 2: The Financial Struggles of Physicians

    - Why many doctors fail financially despite high earnings.

    - Common pitfalls: taxes, unnecessary expenses, and risky investments.

    - The impact of financial stress on personal life, health, and patient care.

  • Lesson 3: Why Physicians Need Financial Literacy
    - The importance of financial planning in maintaining a quality of life.

    - The correlation between financial stability and professional satisfaction.

    - How understanding sound business principles makes better doctors.

Module 2: The Physician’s Financial Lifecycle

  • Lesson 4: The Financial Challenges Unique to Physicians

    - Delayed financial start: impact of medical school debt and late entry into earnings.

    - The compressed savings window: how to maximize earnings in limited years.

    - The pressures of lifestyle inflation and debt accumulation.

  • Lesson 5: The Cycle of Financial Failure Among Physicians

    - Consumption debt and guilt-driven spending.

    - Unstructured financial planning leading to tax inefficiencies and poor investment choices.

    - The psychological toll of financial stress: divorce, burnout, and bankruptcy.

  • Lesson 6: The Life Capital Preservation Model

    - Foundation Phase: Managing expenses, eliminating debt, and ensuring financial security.

    - Cultivation Phase: Maximizing earnings, tax strategies, and long-term planning.

    - Harvesting Phase: Achieving financial freedom and endowing personal values.

Module 3: The Physician’s Financial Toolkit

  • Lesson 7: Core Financial Planning for Physicians

    - The need for a written, structured financial plan.

    - The role of accounting, tax strategies, and asset protection.

    - How to create a system for reducing financial risks.

  • Lesson 8: The Power of Proactive Financial Planning

    - Differentiating between reactive and proactive financial management.

    - How fee-based financial planning removes conflicts of interest.

    - The importance of integrating tax, legal, and business structures into one plan.

  • Lesson 9: Understanding Investment Strategies

    - Common investment mistakes made by doctors.

    - How to create a diversified, low-risk investment portfolio.

    - The importance of liquidity and maintaining a safety net.

Module 4: Taxation and Asset Protection for Physicians

  • Lesson 10: Understanding Physician Taxation

    - Why most doctors overpay in taxes.

    - How to legally minimize tax liabilities.

    - Structuring income to maximize post-tax earnings.

  • Lesson 11: Legal and Asset Protection Strategies

    - How to protect assets from lawsuits and malpractice claims.

    - The role of insurance: malpractice, disability, and life insurance.

    - Estate planning and wealth transfer for doctors.

  • Lesson 12: Business Structuring and Practice Management

    - How to integrate personal financial goals with medical practice objectives.

    - Choosing the right business structure (LLC, S-corp, etc.).

    - The importance of efficient billing, collections, and expense management.

Module 5: Achieving Financial Freedom and Personal Significance

  • Lesson 13: Breaking the Cycle of Financial Failure

    - Overcoming the common financial mistakes doctors make.

    - How to establish a surplus management system.

    - Creating financial habits that lead to long-term success.

  • Lesson 14: The Roadmap to Financial Independence

    - Establishing Critical Capital Mass and financial self-sufficiency.

    - How to transition from active income (working) to passive income (investments).

    - Developing a long-term wealth-building and giving-back strategy.

  • Lesson 15: Beyond Success – Achieving Personal Significance

    - The difference between financial success and personal significance.

    - Strategies for using wealth to create impact beyond medicine.

    - How financial freedom allows doctors to focus on family, personal development, & philanthropy.