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How to Keep & Grow Your Family Wealth with Dr Forrest Bryant

Dr Forrest Bryant, High Speed Alliance



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Gary Pinkerton switches seats and goes on The High Speed Podcast with Dr. Forrest Bryant. They look back at a prior podcast episode they did on Heroic Investing. Gary gives us insight into how the wealthiest families preserve their wealth. He advises on how to create legacy money and secure financial education for your family. He gives examples that can be applied to the middle class demographic.

Announcer 0:04
Welcome to the heroic investing show. As first responders we risk our lives every day our financial security is under attack. Our pensions are in a state of emergency. A single on duty incident can alter or erase our earning potential instantly and forever. We are the heroes of society. We are self reliant and we need to take care of our own financial future. The heroic investing show is our toolkit of business and investing tactics on our mission to financial freedom.

Gary Pinkerton 0:38
This is heroic investing Episode 181. Today, I have the distinct pleasure of interviewing a fellow podcast host. This is Dr. Forrest Bryan, and Dr. Bryan runs a podcast called high speed Alliance. And that’s also his mastermind. And the purpose of his mastermind is to help doctors, CEOs and their families generate passive income that leads to freedom and creates legacy I had the pleasure to join him at an event he did for his mastermind in Nashville a couple of months ago. And in that event, he asked me to participate in a freedom and legacy panel. And it was just a tremendous experience, talking with other individuals expressing my feelings about what freedom means and how it’s necessary for passing on a legacy. And I’m not talking financial legacy, we’re more talking about your ideals, your beliefs, and your experiences, how how you distill those down to the most important and ensure that they live on beyond you. And it was really a fascinating thing. But I got super inspired about freedom and talking about it. And I learned that Forrest Bryant is as equally inspired about those topics, and pursuing those for the benefit of members of his mastermind, his circles, of friendships, and certainly for his family. Dr. Brian started his career as a dentist. And at 13, age 39. He had a debilitating health issue that he’ll talk about on our episode that caused him to have to change course, he had to new kind of think of his dentist business more as a business and run that side of it and not be in there treating patients as he had done so many years and so successfully. You know, after those challenges, he was a financial planner. Still a real estate investor still does a lot of financial planning and manages assets for his mastermind attendees. It was just an incredible culture that I saw at his event. And I look forward to participating many years to come with such a great group of individuals. And Dr. Bryan certainly is at the top of inspiring, ethical, amazing individuals that I met during that time. So very, very grateful. Following this episode, I’m going to turn the tables and he’s going to interview me on his podcast. So you’ll get kind of a double dose of part one and part two of this. I really do enjoy the time talking with him. And I think you’re gonna enjoy what you get in both of these podcasts. So the first up here is me interviewing Dr. Forrest Bryan. Dr. Bryan and I met through a mutual friend. And it’s been just pretty electrifying for me, I’ve met so many great new friends and clients, and kindred spirits that are like minded with me. And when I say that, I mean interested in real estate as an investment as a business and entrepreneurship. And so it’s a great pleasure to bring Dr. Brian and I talked a little bit about his background, but hopefully he’ll share more with us. Dr. Brian, thanks so much for joining us.

Dr Forrest Bryant 3:45
Gary. Thank you are actually let me say captain, Captain Pinkerton. Thank you for having me on the show today. I appreciate being here. I’m excited about your show. I’m a big supporter of the military and for our first responders. And I’ll go ahead and throw out here. I know, I know you went Navy, but my dad was in the Marine Corps. So. So big Semper Fi to all the Marines that are out there. appreciate all you guys working so hard. I love the military. And I love entrepreneurs. And I’m just I’m excited about being here today. Thanks for having me.

Gary Pinkerton 4:15
Absolutely. So, as I mentioned Forrest, to the group ahead of time in the introduction, a dentist, extremely successful dentist with your own practice and something happened in your 30s I think right and it changed your path. Talk a little bit about that, if you would,

Dr Forrest Bryant 4:31
I don’t like talking about it, but it’s important for me to do it. And I think there’s a lot of lessons that can be learned, but I’ll tell a little bit of my backstory, you know, kind of weave it into there. But you know, it’s funny, Gary, I started off I always wanted to do the hardest thing. I was always just a big thinker and always wanted to figure out something that was really hard. So you know, my dad was in the Marine Corps and I thought about actually I thought about going to the Naval Academy and started going down that road and appreciate the sacrifice and in everything that you went through to get there. But kind of at the last minute, I said, you know what I think I think I’m just going to go to Auburn instead. So I ended up going to Auburn University, but I wanted to do something difficult. And so I started off, I was going to be an astronaut. So that was that was kind of, you know, I was I started off in aerospace engineering, and I thought that was the hardest thing that that you could do at the time. And so kind of went through that for a little while. And then I actually kind of a funny story, I had 250, or seniors, this was back in the early 90s, when we had the aerospace cutbacks. And I had 250, or seniors that worked with me, at the university pool there, I managed the pool, they were interviewing for jobs, and they couldn’t get a job. And they said, change your major change your major, you know, there’s, there’s no jobs in aerospace now. So I was like, well, gosh, I don’t want to go through this very, very difficult education and not be able to get a job. So the next thing I switched to environmental engineering in the civil engineering school, saw what engineers were doing in real life. And, you know, most of them that I worked with I Co Op for a couple quarters, I just, I’m sitting at their desk typing every day, and they were type, type, type, type type. And I was like, Yeah, I don’t know, I don’t know, if that’s what I want to do, I don’t necessarily want that type of desk job, I want to do something a little more exciting. Actually, if the EPA, they had the the hazmat response team. So you know, they had the big, you know, it looks like the ambulance with the guys with the bubble suits. And I was like, I’d rather go do that then, you know, sit at the desk with the with the engineers. But eventually, I kind of found my way back to the industry. I’d actually done my career fair in eighth grade on dentistry. And I was always fascinated with it, because it just seemed like a great career where you get to help people, and you make a good living, and you get to be your own boss. I was always real entrepreneurial. And so I said, You know, I think I think that’s it, I think I found my calling, so transferred over to pre med free dentistry and then got accepted early into dental school and fast forward through there did start it off, had a little little spell where I thought it was gonna be an oral surgeon, once again, I wanted to do the do the hardest thing but kind of finally came back to my senses and decided I was ready to get out and start my life and start a family and got married. And I was just really family oriented. And so started off as a general dentist. And for a lot of the guys out there, I think it’s important. You know, I started off as an employee, I wasn’t, you know, wasn’t an owner, I was an employee in my practice. And so I knew I wanted to be an owner, but I knew I had to learn the ropes first. So you know, I started off, got educated, I worked on my skill I worked on myself, eventually had an opportunity to be an owner in that practice. And I became a fractional owner, and then ultimately worked my way up to we were we were 5050 owners with the senior dentists that was at the practice. And this is important part of the story is a lot of the practice management consultants and gurus at the time, were selling this notion of selling off fractions of you know, building up the practice and selling off fractions of it as it grows. And, you know, really study that model really hard. And I said, you know, that’s not really what I want to do. And so I really made a conscious decision to take control of my future. And so I ended up buying out the senior doctor, I wanted to be 100%, owner of the business. And so that was a big change that I had to make mentally in order to take control of my future did that we opened up to more practices, and I was just everything was kind of rocking along. I was actually 39 back in 2011, given my age away now, but I actually had some health issues, and I ended up having altogether I had three elbow surgeries and shoulder surgery, and I had neuropathy, which left me with my hands and feet fully numb, and I lost a lot of my fine motor skills and my hands. And so, you know, at that point, we went to, you know, tons and tons of doctors and trying to figure out what’s going on. And nothing was really improving along that line. And so I kind of had to finally just accept that I wasn’t going to be able to practice dentistry anymore. Fortunately, this is a really important lesson, I think, for entrepreneurs that are listening, I had a real business at that time I had a business that was it was very much dependent on me, but not 100%. If that time I had other dentists that were working for me, I had systems and I had processes in place. I knew how to hire people I knew how to manage and I knew how to lead. We had a lot of hygenist. I knew what I needed to do at that point. So I really kind of transitioned at that point into this the CEO of the business. And so I really worked on on the business skills. And we continued even though and this is a hard thing for you know, if you’re an entrepreneur out there and your entire business is on your shoulders, and it’s dependent on you doing the things that need to be done every day. You mentioned Kiyosaki in our earlier discussion. That’s not a real business. If it’s 100% dependent on you, you got to get to a point where you are managing the business or you’ve got somebody else who’s managing the business. And that’s really where you kind of get up into that highest quadrant and I was close there, but I knew how to get there. And so we really just kind of ramped it up. And so we hired additional dentists to replace me coming out of the operatory and we really just kind of ramped things up and then ultimately had another decision, big decision to make whether that was the rest of my Life Am I going to manage dental practices for the rest of my life or, you know, did I fail, you know, higher calling and don’t want to really go out and make a bigger splash in the world and make a bigger difference in the world. And ultimately, I decided that I really wanted to help other dentists and other doctors and other CEOs do what I had done with, you know, had had a scale of business. And along that time, I started developing some more skills continuing to reinvest in myself, to learn how to how to manage wealth, to learn how the securities world works on the backside, to learn about permanent life insurance, which I know you talk about on your show a lot. And so work for a big company along those lines, and was a financial planner for several years learned learning the ropes, and then we opened our own business back in 2017, just almost a year and a half ago. And so we’re a registered investment advisor now and we help clients high speed alliances, our company, and we help our clients, doctors, dentists, CEOs, they come to us and we help full comprehensive financial planning on traditional, but also on the alternative side. And so we’re big real estate investors have always been and we can get into that, I guess, a little bit at some point, but I’ve always been a real estate investor. So I got a lot of experience in a lot of different areas. But also, you know, we’re very unique in the space that we can, we can help our clients with traditional investments, but also alternative investments. We do a ton of different types of real estate, you know, single family, private lending, multifamily Self Storage, senior living, we help our clients get invested in a lot of those things. So that was a long answer, man.

Dr Forrest Bryant 11:28
That was, that was, that was a lot of information there. But, uh, sorry, it took so long, I probably rambled. But

Gary Pinkerton 11:35
No. No. that’s, uh, that was really good. So the most inspiring thing, one of the most inspiring things I heard in there, first of all, I agree with you completely as the engineer, it was not a good fit for me never was I thought I was absolutely nuts going and getting a master’s degree in Engineering at the University of Illinois. And frankly, the reason I did is because they let me go for free. And I put off you know, the hard Navy submarine stuff for a little bit, and was back home after four years of being away from Illinois and family was there. So it was really crazy ulterior motives, but I found myself in a master’s program in engineering hate and the subjects I was in, because it just was not checking with me. But the inspiring thing I heard takes me back to honors English, was a sophomore, junior, something like that, my teacher gets an early look at one of my papers and says, you know, this is an A B product, AV products, you know, but if you’re the kind of person I think you are, you’ll throw this away and start over. And I thought about that for a while. And I have to admit, I just said, You know what, that’s just not me, I’m not gonna waste that much more time than the other product. But I see you, you know, realizing four or five years in your program, this is not the right choice and having the fortitude to make a right turn and go completely different direction. I mean, that that hats off to you for that. I mean, that obviously shows some commitment. And when I’m sure there were plenty of people telling you, you’re crazy. Let’s talk a little bit about all of the the clients that you work with the doctors, entrepreneurs, you know, you help them, we had a conversation about a different way to look at retirement. And we’re very much in alignment here. And I just don’t want to forget this point. And maybe I’ll circle back after that to some lessons you can give to these other budding entrepreneurs that we have in our audience. But thinking about retirement, you know, this podcast actually started this show started several years ago, when my co host, Jason Hartman was trying to address bring options to first responders were at the time, their local municipality or their state, pension systems were at risk. And we don’t worry so much about pensions and the approach that you take, explain that a little bit, if you would,

Dr Forrest Bryant 13:35
as entrepreneurs, very few of my clients have a guaranteed retirement income stream, they have to, you know, that’s one of the evac when I was running my dental practice, that was part of the joke is for, you know, you’ve, you’ve got to save for your retirement, nobody’s gonna bail you out. So you know, if you want to have a nice retirement, you want to be able to retire one day, you’re gonna have to do it. And, you know, that was one of the things that business owners know this, if you’re an employee, you don’t, you don’t really appreciate this, but, you know, if you’ve got a 401k, or retirement plan, and you’ve got your employee, he contributions and that’s what you take out of your paycheck, and you contribute that to the plan. But then your employer, you know, typically you’ve got a match, and so they’re gonna, they’re gonna take some money, and they’re going to match that up with your money. And then, you know, maybe you got a profit sharing plan that they add on there. But you know, part of the joke is the business owner is okay, I’m gonna reach in this pocket because I’m an employee, and I’m going to put some money in, and I’m going to reach in this pocket, and I’m the employer, and I’m going to put the money out there. And so you know, it’s all on you, as the business owner, in order to fully put that money into this environment. And then oh, yeah, we got to invest it and we got to, you know, we got to have some time factor on that, to see what that looks like. But my thinking and what we do now for our clients is that you know, almost 180 degrees from that, we really help our clients really focus on creating multiple streams of passive income. And there’s a lot of different ways you can do that. And we can kind of get into some of those things. But one of those things obviously is be in real estate. That’s a big bucket. So let’s just say you know, you’ve got a real estate bucket, you’re going to plow money in there, and maybe you’re going to leverage and that’s going to create a drip that’s going to come out, we can get into taxes if you want to, I think tax is more important than investment returns. But you know, we can come back to that when if you want to, but you know, typically, there’s three types of money, you got your taxable money, your tax deferred money, and your tax free money. So I like to play over in the tax free money side, and especially into retirement. So you know, if you think over there, you know, you’re gonna pile some money into into real estate investment. And one of these days down the road, you want to start turning that drip on and start getting some tax free money, you know, you can turn that on, and then boom, you get whatever your number is, you get, you start covering that monthly, you know, usually get your fixed expenses in retirement and your discretionary expenses. And so, you know, you’re kind of looking at, you know, what’s that total number and kind of breaking it down? You know, what do I need here? This is one thing that we love to do for our clients, you know, okay, we got some social security that’s coming in, okay, what are we going to layer on top of that, Okay, we got some real estate income that’s coming in, not just one stream. But a lot of times we’re talking about sometimes dozens or streams of income coming in through different types of real estate investments, you know, you got your tax deferred money, you got your tax free money, you can turn that on, oh, yeah. And you can layer some permanent life insurance, which you You’re a genius at it designing those plans. So, you know, there’s a lot of things that you can do to set up multiple streams of income when you get into retirement. And so you can look at those and kind of break them down and say, Okay, this check, or these few checks, you’re going to cover the fixed expenses, and these are going to be discretionary. And oh, and then all this other stuff is just fluff on top. So you know, that really becomes important, because I know, my listeners, just like your listeners, a lot of them really care about legacy, and they care about making difference. And they care about purpose. And they care about a why and why they’re here and doing something that matters beyond the time that they’re here. So, you know, that could look like you know, investing into your your own family or to your kids, or that may involve investing into a charity or a cause that you’re very passionate about, or maybe that’s your church or your religion. There’s a lot of things that if you have that gap, and you have that extra, that’s what can really make a big difference. And so not only now going forward, but also in retirement.

Gary Pinkerton 17:10
Absolutely. Very well said, one of the things I wanted to circle back to just a little bit, you said multiple streams of income. And we’re completely aligned, of course, and just about everything we’ve said in the last hour and a half together on these podcasts, something that may be missed by the audience is the reason there’s multiple streams, right is that they’re independent in some way. If you have just real estate where you got real estate in different cities around the country, where you have some that’s real estate, some that’s correlated, some other industry you know, maybe it’s a business in you know, fast food industry, you got it McDonald’s, right. And so there’s a funny thing about depressions people still eat at McDonald’s. So the high end Steakhouse might be in trouble, but not the main house. So you know, you’ve got different industries uncorrelated? So that’s, that’s just an awesome answer to that question. One of the things we try to do on our show forest is we try to inspire people who are busy, who are working crazy back to back shifts, maybe deploy in four months at a time, or any of my listeners, you think people that you could help? Specifically, I know, you do a lot with doctors and dentists and entrepreneurs. So how could they you know, what resources do you have available that may help this

Dr Forrest Bryant 18:14
audience? There’s three big things, let me let me throw out right here. Number one is education. And I mentioned that whenever I got to a crossroads, I mean, I’ve always been a big believer in education, I preach it to my kids. And and I hope that I’ve lived that and been an example, that when I was a dentist, I always wanted to be the best dentist I could be. And you know, you don’t learn how to be the best dentist by what you learned in dental school, I mean, it that’s the license to not hurt anybody. And so then if you want to be the best you got to you got to get educated. And so I was always learning and trying to get better, and always doing a lot of continuing education. And I spent probably half a million dollars on education, trying to be the best dentist that I could be. And over a very short period of time I was a fellow in the Academy of general dentistry, I don’t know, you may not have any, anybody that on this podcast that knows what that means. But it just really denotes a lifelong, high achieving dedication to being the best and to learning and you have to do like 500 hours of CPE just to even sit for the test. So, you know, that was one of the things I did. And I was also along that line. I was also very interested in business and in financial planning and trying to learn those things. And so a lot of those things that I took relate into my future life as I’m helping consult other businesses and CEOs and entrepreneurs and doctors and dentists to do the things and then helping them with their financial plan. So just that education so you know, we talked about it earlier, educate yourself, get educated, you know, whatever it is that you want to do, try to be the best at it. If you’re, you know, working to be a single family investor, be the best at it, you know, go to masterminds get involved in other groups, be around people that are doing it or that have done it and so that you can learn from them. But education is really really, really critical. Another thing and I am a fiduciary for my clients and I usually give a disclaimer at the beginning. I usually say something like, don’t do anything that I say on this podcast. This is blanket information, I don’t know you if you’re listening to me, so don’t do anything I say without talking to somebody who’s your advisor who knows about your objectives, your time horizon, you know, your risk tolerance, but saying that I am a big believer, and you won’t hear many financial advisors say this, but I’m a big believer in self directed retirement accounts. So if you’re listening, and you don’t have a military pension, if you’re a firefighter, your first responder, seriously look at self directed IRAs, the self directed Roth IRA is an incredible place for you guys to put your money. If you are an entrepreneur who does not have any employees, there’s a thing called the solo 401k self directed plan, that is the you know, one of the highest level types of retirement plans that you can do if you’re an entrepreneur. And if you don’t have any employees, take a serious look at that. And that’s an incredible place where you can put a lot of money into that tax free bucket. And when you do that, then you’ve got access to other types of investments, such as single family homes, your listeners may not know that if they put money if they roll money into a self directed IRA, that they can actually purchase property, and they can actually take a loan inside there, they can actually leverage that purchase, it’s a little bit different than outside, there are some rules, and there’s an asterisk there. So it’s not for everybody, don’t go do that without talking to somebody who knows what they’re talking about. private lending, private lending is, I’m a big fan of being a private lender, and as your listeners, as they are moving some money into a self directed IRA environment, becoming a private lender, is an incredible way to learn a lot about real estate. So once again, don’t do this on your own, make sure that you’re talking and no people that are that are very knowledgeable about that space. But it’s a very, very powerful space to be in. And coincidentally, I love the legacy aspect of it, because I love teaching my kids and kids in our client community, how to do that that’s a really, really powerful financial tool to teach somebody how to be a private lender. And then you know, the third thing is, is just figure out what you can do and figure out where you can get started and just go do it, you know, one of the easiest places to start is purchasing a single family home. I mean, it’s not rocket science, it’s not really, really hard to understand, I would think that a lot of your listeners could qualify for bank financing, in order just to kind of get started with that first property. But I know you’ve got a lot of people in your network, we’ve got a lot of people on our network, if you know, if they’re listening, you know, you just got to get started, you got to look at what you can do. You mentioned earlier about at a time, you know, if you’ve got a good income, or you know, if you’ve got a good brain or you know, just whatever that thing is that you can take in that you can leverage, you got to try to leverage that. And that’s where you should focus on getting started. So just get educated on leadership on entrepreneurship on real estate, get educated on self directed IRA, investing and slash become a private lender. And then the third thing is just, you know, just get started, you know, figure out, you know, partner with somebody, get into a community, become a member of a mastermind, get a mentor that that’s done it. And, you know, don’t try to do this stuff on your own, it’s too hard, you’ll get there so much faster by by leveraging that relational capital to really plug into some people that are givers that want to help you. And so, you know, I would say that that’s a few, a few things that hopefully be very valuable to your listeners.

Gary Pinkerton 23:31
Yeah, educate yourself and get started, right. Yep. Another one. They either Jim Rome, or I think this is probably another Ziegler. You know, he said that you don’t have to be great to get started. But you do have to get started to be great Monday, you actually have to start so I have so many clients are like, should I get this entity in place? Should I get this other thing in place? And I’m like, you know, the most important thing is to get the experience you know, so actually physically get a property man force. It’s been it’s been so amazing spending some time with the real doctor Brian. I hope that listeners have learned a tremendous about from this. Can you give them real quick, any last parting words, but also how they can find out more about you in the company?

Dr Forrest Bryant 24:10
Sure. Great. Appreciate that. Our website is high speed Alliance calm and we also have our own podcast. I think it’s at high speed, high speed Alliance comm slash podcast or something like that. could follow us on Facebook, we actually have a if you if you go on our website, you can actually join our mailing list and we send out podcasts and blogs and just some information about we do we do a quarterly event. So if somebody’s listening, they wouldn’t know more welcome to come to one of our events. And we it’s a lot of education and we cover a lot of ground. It’s just phenomenal. We’ve got clients all across the US and we’ve just bring in some really great speakers. We hope to have you Captain Pinkerton in your event. So sharpen my submarine. Yeah. But if anybody wants to get in touch with me personally, my email is Dr. B, Dr. B at high speed Alliance comm and shoot me an email love to connect with you. We’d love to create content to go out just to help people, you know, have the courage to get started, our mission is just helping people create freedom and legacy in their life. And so, you know, freedom is not just financial freedom, it’s also time freedom. So teaching people how to really create real businesses that are not 100% dependent on them, and really think about a legacy plan for not only for their business, but also for their family. And so we’re real passionate about that. And we just feel very blessed to be able to get up and help people every day. And we’re having a great time. And thank you for having us. And hopefully, we provided some great content for your listeners.

Gary Pinkerton 25:42
Absolutely, certainly have. And again, thanks for being gracious with your time. I know you’re a pretty busy individual. As I mentioned at the at the introduction, you know, I had the pleasure of being on your podcast, and that’ll run shortly after this one. So if you haven’t had enough of Dr. Forrest Bryant, which is pretty likely, then you’re going to get some more so saying Hang in there.

Dr Forrest Bryant 26:00
Thanks again. Thank you, Gary.

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