Episode 180: Don’t Freak Out: Smart Money Moves in a Shaky Economy

Smart Money Moves for Therapists in a Shaky Economy Feeling nervous about the economy? You're not alone—and you’re not powerless. In this episode, Julie Herres welcomes financial planner David Frank back to the show for a calming and practical conversation about what therapists can do when things feel financially unstable. You’ll learn why panic doesn’t serve your practice—and what to do instead. Whether you’re watching the market dip, worried about Medicare or Medicaid cuts, or just feeling the pressure of team payroll, this episode is packed with tools and reassurance. Why listen: Understand what market volatility really means. Learn how to protect your business from revenue concentration risks. Get proactive steps to ease anxiety and make grounded decisions. Show Highlights: 01:45 – Why anxiety is rising and what’s really happening in the market 03:00 – Zooming out: what history tells us about bear markets and recovery 05:00 – Julie’s “set it and forget it” investing strategy 08:00 – Dollar-cost averaging explained—and why it works 09:30 – How to think like a CEO if you rely on Medicaid/Medicare 10:40 – Revenue concentration risk: what it is, and why it matters 11:30 – Using “fear-setting” to prepare without panicking 14:00 – The value of securing a line of credit before you need it 20:00 – The difference between tracking for action vs. emotional reassurance 22:00 – How missing a few big days in the market can hurt long-term returns 23:00 – Julie’s closing reminder Closing Thought: “If you’re feeling unsure, that’s okay. You don’t have to hustle harder, but you can plan smarter. You’ve got this—and I’m cheering you on.” Links and Resources Turning Point HQ – David Frank’s Financial Planning Services 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