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A Different Concept of FIRE: fatFIRE with The Physician on Fire, Leif Dahleen

Leif Dahleen is an anesthesiologist. He attended the University of Minnesota for his undergraduate and medical school education, completed an internship at Gundersen Lutheran in La Crosse, Wisconsin and finished his residency at the University of Florida in 2006. He practiced anesthesia in Florida, Wisconsin, Pennsylvania, Michigan, South Dakota, and Minnesota. A decade into his career, he realized he could be considered financially independent. He retired from medicine at age 43, traveled extensively with his family before the pandemic hit, and maintains the website physicianonfire.com.

[00:01 – 07:56] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, Leif Dahleen
  • Leif talks about his background
    • His years in Medicine
    • Plan to exit and retire with financial independence
  • Leif talks about the concept of fatFIRE
    • fatFIRE is living above the average American household

 

[07:57 – 19:56] The fatFIRE Concept of the FIRE movement

  • Families budget and plan for their retirement and investments
  • Debts into retirement
    • It’s all about mindset
    • Risk mitigation
  • The fatFIRE movement
    • Mostly involves people who own businesses
    • Taking risks in investments when you have the means and resources
  • Leif talks about the causes he supports

 

[19:57 – 26:15] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • $1800 Diamond ring that I gave to my wife
  • What is the worst investment you ever made?
    • Purchasing individual stocks
  • What is the most important lesson that you've learned in business and investing?
    • There’s beauty in simplicity
  • Connect with Michael. See the links below.

 

Tweetable Quotes:

“There’s beauty in Simplicity. I think you can keep your investment plan very simple and be successful.” - Leif Dahleen

“When we’re talking specifically about fatFIRE, you’re going to see a higher percentage of people who do own their own business. That is one path to becoming wealthy.” - Leif Dahleen

 

Resources Mentioned:

 

Connect with Leif on Twitter or visit his website https://www.physicianonfire.com/ Check out the fatFire Facebook Group here.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

This episode is brought to you by Roofstock, the world’s largest residential real estate investing marketplace. Open an account for free and start browsing turnkey investment properties today.

We are also supported by You Need a Budget. YNAB is a different kind of personal financial tracking company. They’ll help you track and plan your money with your priorities in mind. Open your trial account today and give it a shot!

About the Host

Taylor on stage

Hi, I’m Taylor. I help busy professionals escape the Wall Street Casino and build wealth on Main Street by investing in real estate. I started the Passive Wealth Strategy Show because I realized that the typical “skip that $3 latte once a week” financial advice does not produce the life of abundance that so many Busy Professionals desire.

I help passive investors invest in multifamily and self storage real estate syndications through my company NT Capital.

Don’t forget to follow on Instagram @passive_wealth_strategies

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[…] False dichotomies and my preferred flavor of FIRE were discussed in my chat with Taylor of the Passive Wealth Strategies podcast. A Different Concept of FIRE: fatFIRE with The Physician on Fire. […]

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