Page 115 - The Dental Entrepreneur

The Dental Entrepreneur

What I did during this slow time was to assemble my substantial stack of payment books On
my house, practice, car, boat, and six student loans. I wanted to see what my debt situation
was and what I currently owed. To my amazement I found that after three years off paying
faithfully on all of this stuff, I owed virtually the same amount as when I started out. I had not

Made any headway at all. In fact with things like cars and boats which depreciate rapidly in
value, I was “upside down”. I owed more than what they were worth. I had paid what I thought
was a massive amount of money on this stack of payment books but had gotten nowhere. This
is when I set out to get out of debt and get on the right side of this financial equation.

To drive this point home in a manner in which you can relate, I will take an example of a
$250,000 home mortgage at 4.5% for 30 years. A fairly modest house in today's market. I will
show you how much you will have to produce in dental dollars to pay for that home mortgage
and how far that investment went to put dollars into the asset column of your financial
statement. After all the bottom line of most of your financial activities should result in you
putting dollars into the asset column of your financial statement and increasing your net worth.

The following chart is a 250,000$ mortgage at 4.5 % for 30 years.

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