Episode 154 | The Business Owner’s Investment Playbook (with David Frank) Artwork

Therapy For Your Money

Welcome to Therapy for your Money, a podcast about all things money and finance for private practice owners! If you are ready to feel confident and in-control of your financial life, then you are in the right spot. Therapy for our Money is hosted by Julie Herres, the CEO and Founder of GreenOak Accounting. She and her firm specialize in working with private practice owners across the United States, and have assisted hundreds of private practices with increasing their financial stability and profitability. She is on a mission to share her best practices she's learned along the way through her successful career as an accountant, discusses financial topics with a wide variety of guests, and help her listeners make data driven decisions to help their businesses.

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Therapy For Your Money

Episode 154 | The Business Owner’s Investment Playbook (with David Frank)

November 08, 2024 • Julie Herres

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

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