I help therapists navigate every element of their financial lives: from understanding your practice P&L and building a personal budget to managing student loan debt and investing for retirement... and everything in between. But don't let my love of the tax code and spreadsheets scare you off! You're just as likely to find me with my nose buried in one of Pema Chodron's books as reading up on the latest financial planning techniques.
Should you open an IRA?
Hello Reader,
Deciding what retirement plan to use can be confusing & overwhelming.
It’s entirely understandable if you’ve found yourself frozen with indecision.
Let’s simplify things.
If you’re looking to save $6,500 or less for retirement this year, you can skip all the more confusing retirement plans and simply open an IRA. If you’re 50 or older the annual amount you can contribute to an IRA increases from $6,500 to $7,500.
If that describes your savings goal for this year, check out my recent blog post where I break down…
👉 7 Facts Every Therapist Needs to Know about IRAs
Next AMA: All about Retirement Plans
Because the details surrounding retirement plans are so confusing, I’m dedicating the next Ask Me Anything (“AMA”) Office Hours exclusively to them.
That AMA is taking place NEXT TUESDAY, September 12th.
Sign up here and get your questions answered!
As always, if you have any questions about what I’ve covered today — or anything else happening in your financial life — HIT REPLY and ask away! I read and respond to every email.
Best,
Dave
PS: Get on the Interest List! 🤠
I’m developing a new group coaching program to help you select and manage your retirement plan with confidence and ease.
That program will be rolling out later this Fall. I’ve got space for no more than 20 folks and one of my goals is financial accessibility. (And yes, there will be a few scholarship and sliding scale spots available.)
There will never be a hard sales pitch or any pressure. If you click on the interest link, I’ll simply share some more information with you when it’s ready.
So what are you waiting for?
Hi there! I'm a financial planner for therapists!
David W. Frank
I help therapists navigate every element of their financial lives: from understanding your practice P&L and building a personal budget to managing student loan debt and investing for retirement... and everything in between. But don't let my love of the tax code and spreadsheets scare you off! You're just as likely to find me with my nose buried in one of Pema Chodron's books as reading up on the latest financial planning techniques.
Hello Reader, Want the mindset that brings unlimited willpower? Keep reading and it could be yours! 👇 We’ve been taught that willpower is a limited resource. Many of us believe that willpower is like a battery – full at the start of the day, but depleted as the day wears on. And that this low battery leaves us vulnerable to poor impulse control and regrettable choices later in the day. And there is research seemingly backing up this limited view of willpower. The phenomenon came to be known...
Hello Reader, If you’ve been meaning to figure out a retirement plan for 2024, I’ve got just the webinar for you! Join Julie Herres and me as we guide practice owners through the maze of retirement options in this webinar. 👉 Click here to register! Whether you’re in solo practice or a group practice owner, we’ll break down the available choices, contribution limits, and help you figure out the best path for your future. It’s sure to be an informative session not to be missed if you’re...
Hello Reader, It wasn’t just a good day, it was a GREAT day. I was clear-headed, sharp, uber-productive. I was flying through my to-do list, and doing (IMHO) my best work, when I made a quick pivot to dispatch some emails. One email was from HR, announcing a change to the vacation policy. What? That’s interesting. Without hesitation, I click on the attached PDF to see if it was good news or bad. And just like that… I had been phished. I knew that clicking on a suspicious attachment could...