Financial Freedom via Passive Income Streams | Dr. Christopher Loo

Dr. Christopher Loo MD-PhD is a retired Orthopedic surgeon, entrepreneur, investor, physician advisor and executive coach. He shares how following his intuition and investing in his personal education allowed him to become financially independent. He and Taylor discuss strategies for starting passive income streams, and the one thing he’d focus on if he had to start over tomorrow. 

Pursue your passions. Life is not a linear path.

Chris Loo, MD-PhD

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Amazing episode with @drchrisloomdphd as we discussed building financial freedom and some important financial concepts. Check out “The Happy Doc” podcast on your favorite podcasting app to hear episode 251 or click the link in the bio.

A post shared by The Happy Doc (@happydocpodcast) on Aug 23, 2020 at 4:04pm PDT

Follow Your Intuition

Dr. Christopher Loo:

I started investing in real estate. I bought my first investment property when I was a first year medical student, rented that out. By my final year of medical school I had another investment property and I was actively investing in stocks and trading in options.

My final year of medical school, I had already attained financial freedom and I would never work for anybody or anyone if I didn’t want to.

Breaking Free from the Status Quo

Dr. Christopher Loo:

I was really encouraged by all my mentors and deans to pursue the conventional route. I remember going through the list of specialties and I wasn’t really particularly enthusiastic about any of them. I settled on the highest paying specialties, so ortho was one of them.

I matched into Rutgers. I moved up to New Jersey and day one, my intuition told me that I had made the wrong choice. I toughed it out for two years. And then there was this point where my intuition told me to take a leap of faith or otherwise I would live the rest of my life with regret. So the day that Lehman Brothers filed for bankruptcy, I listened to my intuition. I walked into my chairman’s office, turned in my keys, badge and pager.

I’ve never looked back since that day. And as they say, the rest is history.

One Book Can Change Your Life

You can buy a book for $10 and it can change your life. So, that book came to me through the Rich Dad, Poor Dad. Less than $10 and it changed the entire course of my life.

Episode References

Dr. Chris’ recommended reading is the aforementioned Rich Dad, Poor Dad, and other works by Robert T. Kiyosaki and Multiple Streams of Income by Robert G. Allen.

He referenced Kenji Asakura and Letizia Alto’s Real Estate course via their website Semi-Retired MD and Tony Robbins’ Date with Destiny event. 

Check out Dr. Chris’ books here, including:

• How I Quit My Lucrative Medical Career and Achieved Financial Freedom Using Real Estate (You Can, Too!) 
• The Physicians Guide to Achieving Financial Freedom Using Stocks and Options: How I Became Financially Free Using a Simple 3-Step Stock-Investing Process
• The Physician’s Guide to Financial Freedom: Getting Started As A Consultant: How to Launch and Brand Your Unique Skill Sets to Position, Leverage, and Capitalize on Niche Consulting Opportunities
• The Physician’s Guide to Financial Freedom: Becoming a Freelance Writer: How to Build and Monetize Additional Passive Income Streams Through Creative Writing

You can find Dr. Chris online @chrisloomdphd. Be sure to follow him on Instagram, Twitter and YouTube. Check out his business on Facebook, and his members-only group here. 

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Transcript

Transcript available on page two.