#241 Why Sustainable Financial Planning is Important for Doctors ft. Austin Dean of Waystone Advisors
In this episode, Dr. Peter Kim sits down with Austin Dean, founder and CEO of Waystone Advisors. They talk about non-traditional finance, discussing strategies to help physicians build wealth and move toward financial independence.
Find out more about how to break beyond traditional retirement planning and learn how to use real estate and other alternative investments to secure your financial future. Tune in!
Waystone Advisors brings this episode to you.
Waystone Advisors helps clients design wealth strategies that provide flexibility and control as they pursue their most important goals. By going beyond traditional investing, the firm customizes wealth-building strategies using a blend of academically tested research and unique financial solutions, empowering clients to achieve financial success.
Learn more about Waystone Advisors.
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Episode Highlights
Now, let’s look at what we discussed in this episode:
- Introducing Waystone Advisors
- Austin Dean’s Journey into Financial Planning
- Rethinking Traditional Financial Planning
- Tailored Financial Planning and Real Estate Integration
- The Power of Connection and Future Opportunities
Here’s a breakdown of how this episode unfolds.
Episode Breakdown
Introducing Waystone Advisors
Peter starts the episode by introducing Austin Dean, founder and CEO of Waystone Advisors, a firm that takes a unique approach to financial planning.
Together they talk about how Waystone doesn’t just rely on traditional investing methods; instead, they blend proven academic research with customized strategies for their clients, with the goal of helping people achieve financial freedom while having the flexibility to enjoy life along the way.
Austin Dean’s Journey into Financial Planning
Austin shares how he fell into the world of financial advising. He did not even know that financial planning was a career growing up. He was entrepreneurial enough as a young boy, cutting grass and working at a couple of jobs to help finance his college education.
Even though he had contemplated going into sports or physical therapy, it was his economics class in high school that led him into business. By the time he took an internship with a financial planner in college, he knew he‘d found his calling.
“I had no idea what financial advising was until college, But I loved the idea of creating a business that had meaningful impact and built long-term relationships.“
That passion became the foundation for his career, where he now serves clients in nearly 40 states. His story is a testament to the power of curiosity and adaptability in carving out a meaningful career path.
Rethinking Traditional Financial Planning
Austin talks about how he is never afraid to challenge the conventional model of financial planning. While strategies like maxing out retirement accounts and deferring taxes work well for some, they are often too rigid and outdated, especially for younger clients. Instead, he inspires people to think differently, such as investing in real estate, businesses, and other flexible assets, and achieving financial independence and passive income earlier in life.
He says, “The wealthiest individuals don’t just put their money in retirement accounts. They build businesses, buy real estate, and invest in assets that offer more flexibility and leverage.”
This way of thinking resonates deeply with those who often seek alternatives to conventional financial advice. Austin’s philosophy focuses on building a life you love now, rather than waiting until retirement to enjoy the fruits of your labor.
Tailored Financial Planning and Real Estate Integration
Austin explains that understanding his clients’ unique goals is the cornerstone of his financial planning process. Whether it is building cash flow, achieving financial independence, or maximizing tax benefits, every plan is customized.
His team’s expertise in real estate investing makes them uniquely qualified to help clients incorporate diverse assets like rental properties, syndications, and short-term rentals into their portfolios.
“Real estate is a huge asset class with a ton of options, you need to start with your goals-do you want cash flow, tax benefits, or long-term growth? That’s what will help determine what type of real estate makes sense for you.”
He has a knack for personalizing strategies to leave his clients confident and empowered in pursuit of their financial goals fit for their values and lifestyle.
Connecting With Austin and Future Opportunities
To end the episode, Austin shares how success in investing is not just about the numbers but about the people. He encourages clients to surround themselves with like-minded communities that can help them discover unique opportunities. Being part of real estate groups, professional networks, or investment communities creates a flow of information and deals that wouldn’t otherwise be accessible. At Waystone, Austin and his team actively connect clients to these opportunities while carefully vetting them for quality and alignment.
“Having the right team and community around you is key, that’s how you find the deals and resources to achieve your financial goals.”
As Waystone expands to serve clients in all 50 states, Austin is excited about exploring new investments like oil and gas and micro-lending. His passion for both personal growth and empowering others shines through, making it clear why his approach resonates with so many.
He mentions how you can learn more about them by visiting their website at waystoneadvisors.com
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