Navigating Financial Planning with Advisors

Retirement planning doesn't have to be scary or unattainable. In this episode of the All Things Private Practice Podcast, host Patrick Casale is joined by Ryan Derousseau, a certified financial planner. They dive deep into the importance of retirement planning for private practitioners and therapists. They discuss the common challenges faced by those in private practice, including the lack of financial planning and the emotions of shame and fear surrounding retirement.

Ryan shares valuable insights on simple strategies to start securing financial stability, the importance of investment in retirement accounts, and the significance of building assets beyond the practice income stream.

3 key themes:

1. Start with small steps: Even a recurring investment of $50 a week can kick-start the process of retirement planning, allowing you to build a secure future without feeling financially overwhelmed.
2. Selecting the right financial advisor: When hiring a financial advisor, it's essential to ask about their compensation structure, experience, and ability to clearly communicate financial strategies. Select a professional who can guide you through investment decisions and explain the benefits in a way that you can understand.
3. Diversify your income streams: Building an asset involves more than just creating an income stream. Consider investing in retirement accounts, businesses, real estate, or other avenues that can provide financial security and ultimately give you the freedom to work on your own terms without feeling forced to do so.

More about Ryan:

Ryan Derousseau, CFP®, is a fee-only financial planner who specializes in working with therapists and private practitioners, enabling them to thrive financially so they can focus on clients. He's taken his years of experience working for himself and his deep knowledge of the financial space to build a process to help clients shape their business with their goals, family and future at the forefront. He shares this process with clients at United Financial Planning Group, based in Long Island.

Check out Ryan's free Financial Planning Checklist.

• Ryan's Website: thinkingcapfinancial.com
• Find Ryan on LinkedIn: linkedin.com/in/ryanderousseau

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Thanks to Our Sponsors: The Receptionist for iPad

✨ The Receptionist for iPad:

I want to thank The Receptionist for iPad for sponsoring this episode.

The Receptionist offers an iPad list check-in option where clients can scan a QR code to check in, which negates the need for you to buy an iPad and stand. Go to thereceptionist.com/privatepractice and sign up for a free 14-day trial. When you do, you'll get your first month free. And don't forget to ask about our iPad list check-in option.

Mentioned in this episode:

The Receptionist for iPad

I want to thank The Receptionist for iPad for sponsoring this episode. From new patients faced with an empty lobby and no idea where to find their therapist to clinicians with a session running over time and the doorbell ringing, some of the most anxiety-ridden moments of a therapy appointment happen before a session even starts. The Receptionist for iPad, helps you tackle some of that pre-appointment apprehension and anxiety. The Receptionist for iPad is an easy-to-use digital client check-in system that helps your visitors check in securely to their appointments and notify their practitioners of their arrival via SMS, email, or your preferred channel. No more confusion, and less lobby checking or having clients sign in on paper logbooks. It can even help you upgrade and update your demographic information for your clients as well and even validate parking. Start a 14-day free trial of the Receptionist for iPad by going to thereceptionist.com/privatepractice. Make sure to start your trial with that link and you'll also get your first month free if you decide to sign up.