Episode 248 | Turning Private Practice Income into Wealth with Ryan Derousseau
Episode description
Have you ever been stressed about losing income while you’re away from your practice?
If that sounds familiar, it’s probably time to think about turning your group practice income into lasting wealth.
That’s why I sat down with Ryan Derousseau from Thinking Cap Financial to explore the essential topic of financial planning for group practice owners.
While income keeps the day-to-day operations running, true wealth comes from investing that income wisely. Shifting your focus from just earning, to strategically investing can provide long-term financial security and even allow you to take time off without worry.
If you're stuck in the cycle of client work, this episode is a must-listen!
During our chat, we dive into:
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The difference between generating income and building wealth in a group practice.
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Strategies for investing income, including stock market, real estate, and business ventures.
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The significance of transitioning from client work dependency to strategic business management.
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The first steps you can take to begin turning your practice income into wealth.
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Resources for further guidance on wealth building and financial management.
This episode is brimming with practical advice to help you build a sustainable future for your practice.
Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you’re listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!
LINKS:
Ryan’s eBook: Turning Private Practice Income into Wealth
The Group Practice Exchange Programs + Courses
The Accountability Equation™ Quiz
CONNECT WITH MAUREEN WERRBACH & THE GROUP PRACTICE EXCHANGE:
CONNECT WITH RYAN DEROUSSEAU:
SPONSORS:
TherapyNotes: An EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. Go to therapynotes.com/r/thegrouppracticeexchange for two free months!
GreenOak Accounting: An accounting firm that specializes in working with group practices. Mention TGPE to get $100 off your first month!