Want to learn how to leverage your healthcare knowledge to start or grow a business? The Healthcare Boss Academy podcast presents interviews with real-world healthcare entrepreneurs, innovators, and other leading business experts. On each interview episode, your host Jason A. Duprat will deconstruct each guest's playbook for success so that you can learn ideas, strategies, and insights that will help you on your entrepreneurial journey. You can follow Jason's personal journey on his bite-sized "Tactical Tuesday" solo episodes!
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episode 195: Jerry Vinson: Know your Financial Freedom Number
OVERVIEW:
Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and host of the Healthcare Entrepreneur Academy podcast talks with Jerry Vinson, CRNA, and creator of the Live Wealthy Formula. Jerry looks back on the events that led him to start his current business and shares his thoughts on several wealth creation strategies.
EPISODE HIGHLIGHTS:
- Jerry got his hard work ethic and entrepreneurial mindset from his dad.
- He double-majored in chemistry and psychology. He became a nurse practitioner and then a CRNA, but that left him with a loan debt of $205,000.
- After getting burned out, Jerry educated himself on personal finance, money management, and wealth creation strategies.
- Know your financial freedom number and then work towards it to create the life you desire.
- Jason and Jerry share their thoughts on Dave Ramsey and Robert Kiyosaki.
- Jerry talks about whole life and term life policies as a wealth creation strategy.
- He presents the advantages of alternative investing like cryptocurrency and discusses IRAs as well, including using an IRA to invest in crypto.
- Jerry doesn’t invest in stocks because he hasn’t been able to beat the market.
- Jason and Jerry highlight why business is a wealth-building and retirement vehicle.
- Jerry shares an overview of his Live Wealthy Formula program. It starts with having the right mindset. Steps 1 and 2 are about money management. Step 3 is about wealth creation strategies and step 4 is focused on taking action on what you’ve learned.
- Invest first and then live the life you want. We tend to reverse these concepts.
- Together, everyone achieves more.
3 KEY POINTS:
- Mindset and money management are the basic foundations of improving any area in your life. Use what you’ve learned and take action.
- Investing in a business gives you an asset to generate revenue. You can sell the business or pass it on to your children. You can also leverage the business to invest in other things.
- It doesn’t matter how much money you make. What does matter is what you do with your money and how you live your life while making money.
TWEETABLE QUOTES:
“There are so many different things you can do with your money.” - Jerry Vinson
“Figure out how to make the most of your current income.” - Jerry Vinson
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