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
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
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