Episode 287 hosts Dr Felix Bertram (Dermatologist and serial entrepreneur) from Zurich, Switzerland.
In this podcast we do something very different and look beyond the business strategies of earning money from aesthetics. We discuss the importance of financial freedom, budgeting, and various investment options such as savings accounts, term deposits, stocks, property, gold, and cryptocurrency.
We emphasize the importance of starting early, understanding the power of compound interest, and seeking professional financial advice. Our conversation also highlights the differences between venture capital, private equity, and the importance of having a succession plan for business owners. The episode ends with practical advice and insights for professionals seeking to enhance their financial literacy and future-proof their wealth.
00:00 Introduction
00:51 Today's Special Guest: Dr. Felix Bertram
01:10 Wealth Creation for Professionals
04:51 Understanding Financial Freedom
05:56 Defining Passive Income
18:19 The Importance of Budgeting
39:21 Investment Strategies and Diversification
46:57 Investing Inherited Money in the Stock Market
47:11 The Long-Term Benefits of Stock Investments
48:34 Understanding Investment Fees
49:30 Allocating Monthly Income to Investments
50:07 Exploring Safe Investments: Government Bonds
50:42 Property Investment: Pros and Cons
51:35 Challenges of Property Ownership for Young People
57:33 Superannuation: A Secure Retirement Fund
01:01:41 The Value of Gold in Investment Portfolios
01:06:44 Cryptocurrency
01:14:16 Venture Capital and Private Equity
01:22:37 Preparing Your Business for Sale
01:27:02 Final Thoughts on Wealth Creation
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