Episode 120: Retirement Planning 101: How To Protect Your Future [featuring Ryan Derousseau]

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. Check out Ryan's free Financial Planning Checklist. Ryan's Website: thinkingcapfinancial.com Find Ryan on LinkedIn: linkedin.com/in/ryanderousseau –––––––––––––––––––––––––––––––––––––––––––––– 🎙️Listen to more episodes of the All Things Private Practice Podcast 🎙️Spotify 🎙️Apple 🎙️YouTube Music ▶️ YouTube ✈️ Learn about Retreats 🗨️ Join the free Empowered Escape FB Community 🗨️ Join the free All Things Private Practice FB Community ––––––––––––––––––––––––––––––––––––––––––––––– Thanks to Our Sponsors: Alma, Therapy Notes, & The Receptionist for iPad ✨ Alma: I want to thank Alma for sponsoring this episode. Alma makes it easy and financially rewarding to accept insurance. When you join their insurance program, you can get credentialed within 45 days and access enhanced reimbursement rates with major payers. They also handle all of your paperwork from eligibility checks to claim submissions, and they guarantee payment within two weeks of each appointment. You can also attract clients who are the right fit for your practice with a free profile in Alma's searchable directory. Additionally, Alma offers time-saving tools and administrative support, so you can spend less time on paperwork and more time delivering great care to your clients. Get your first month free with Alma by visiting helloalma.com/ATPP. ✨Therapy Notes: I want to thank Therapy Notes for sponsoring this episode. TherapyNotes™ is a complete practice management system with everything you need to manage patient records, schedule appointments, meet with patients remotely, create rich documentation, and bill insurance, right at your fingertips. Their streamlined software is accessible wherever and whenever you need it. Go to therapynotes.com and get 2 free months when you use code ATPP. ✨ 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.