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