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Episode 154 | The Business Owner’s Investment Playbook (with David Frank)
Financial Mastery for Therapy Practice Owners: Investing, Retirement, and Real Estate Insights
In this episode of Therapy for Your Money, host Julie Herres delves into essential financial strategies for therapy practice owners with certified financial planner David Frank. The discussion spans various areas, including the importance of emergency funds, distinguishing between personal and business finances, and the advantages of fee-only financial planners. Listeners will gain valuable insights into managing excess cash, understanding tax-advantaged accounts, and setting up business emergency funds.
Simplified retirement planning is also covered, emphasizing target date funds and consistent savings. The episode touches on the intricacies of financial planning, including risk management, estate planning, and real estate investments. Practical advice on life insurance options and detailed resources on retirement plans are provided to help ensure the financial stability and growth of therapy practices.
Episode Highlights
00:00 Welcome to Therapy for Your Money
00:50 Introducing David Frank: Financial Planner for Therapists
01:15 Investing Basics for Business Owners
04:34 Emergency Funds: The Foundation of Financial Security
08:14 Navigating Taxable Brokerage Accounts
15:10 Retirement Planning: Choosing the Right Accounts
20:01 Solo vs. Group Practice Financial Strategies
21:03 Calculating Your Retirement Number
22:04 Approaching Retirement: Financial Tips
23:52 Overcoming Financial Anxiety
25:41 Risk Management and Insurance
26:40 Real Estate Investments: Pros and Cons
34:33 Life Insurance for Practice Owners
38:04 Free Webinar and Resources
Links and Resources
- Investment Webinar with Dave Frank: https://youtu.be/UJOdyvLvU50
- Get a Free Initial Fit Meeting: https://turningpointhq.com/
- Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
- GreenOak Accounting - www.GreenOakAccounting.com
- Therapy For Your Money Podcast - www.TherapyForYourMoney.com
- Profit First for Therapists - www.ProfitFirstForTherapists.com
- Profit First Academy - www.ProfitFirstForTherapists.com/Academy
- Podcast Production and Show Notes by Course Creation Studio
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
View all episodes
By Julie Herres
4.9
4949 ratings
Financial Mastery for Therapy Practice Owners: Investing, Retirement, and Real Estate Insights
In this episode of Therapy for Your Money, host Julie Herres delves into essential financial strategies for therapy practice owners with certified financial planner David Frank. The discussion spans various areas, including the importance of emergency funds, distinguishing between personal and business finances, and the advantages of fee-only financial planners. Listeners will gain valuable insights into managing excess cash, understanding tax-advantaged accounts, and setting up business emergency funds.
Simplified retirement planning is also covered, emphasizing target date funds and consistent savings. The episode touches on the intricacies of financial planning, including risk management, estate planning, and real estate investments. Practical advice on life insurance options and detailed resources on retirement plans are provided to help ensure the financial stability and growth of therapy practices.
Episode Highlights
00:00 Welcome to Therapy for Your Money
00:50 Introducing David Frank: Financial Planner for Therapists
01:15 Investing Basics for Business Owners
04:34 Emergency Funds: The Foundation of Financial Security
08:14 Navigating Taxable Brokerage Accounts
15:10 Retirement Planning: Choosing the Right Accounts
20:01 Solo vs. Group Practice Financial Strategies
21:03 Calculating Your Retirement Number
22:04 Approaching Retirement: Financial Tips
23:52 Overcoming Financial Anxiety
25:41 Risk Management and Insurance
26:40 Real Estate Investments: Pros and Cons
34:33 Life Insurance for Practice Owners
38:04 Free Webinar and Resources
Links and Resources
- Investment Webinar with Dave Frank: https://youtu.be/UJOdyvLvU50
- Get a Free Initial Fit Meeting: https://turningpointhq.com/
- Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
- GreenOak Accounting - www.GreenOakAccounting.com
- Therapy For Your Money Podcast - www.TherapyForYourMoney.com
- Profit First for Therapists - www.ProfitFirstForTherapists.com
- Profit First Academy - www.ProfitFirstForTherapists.com/Academy
- Podcast Production and Show Notes by Course Creation Studio
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
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