Judd Carlton | Retirement Planning In Private Practice | TPOT 179
The Practice of Therapy Podcast with Gordon Brewer
Release Date: 05/24/2021
Helping Clients Navigate Digital Overwhelm in Private Practice | Eli Singer | TPOT 425
The Practice of Therapy Podcast with Gordon Brewer
Most of us know the feeling. You pick up your phone to check one thing and suddenly twenty minutes have disappeared. For many people, this has become a daily pattern, and it is starting to show up more and more in therapy sessions. In this episode, I sit down with Eli Singer to talk about digital overwhelm and the complicated relationship many of us have with our phones and devices. Eli has spent years working in the digital world, including building one of the early social media agencies in North America. After stepping away from that work, he began focusing on helping people develop...
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How Therapists Can Use Social Media Without Feeling Fake | Jazzmyn Proctor | TPOT 424
The Practice of Therapy Podcast with Gordon Brewer
Marketing can feel uncomfortable for a lot of therapists. Most of us were trained to be neutral, private, and to keep the focus on the client. So when someone tells you that you need to show up on social media or talk about your work publicly, it can feel a little strange. But visibility matters more than ever when it comes to building a private practice. In this episode, I’m joined by Jazzmyn Proctor, a therapist, podcaster, and marketing mentor who helps clinicians show up online in ways that feel authentic and sustainable. Jazzmyn shares how she started building her presence while still...
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Scaling a Private Practice with Intensives, Classes, and Conferences | Dr. Wyatt Fisher | TPOT 423
The Practice of Therapy Podcast with Gordon Brewer
Couples therapy can be some of the most rewarding work we do as therapists, but it can also be one of the most challenging. Many couples don’t reach out for help until things feel like they’re falling apart. By the time they sit down in your office, there are often years of resentment, hurt, and miscommunication built up beneath the surface. In this episode, I’m joined by Dr. Wyatt Fisher, a psychologist and couples therapist who has spent years refining his approach to helping couples work through those deeper issues. Wyatt shares how his own personal and professional experiences shaped...
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Doing Couples Therapy as a Husband-and-Wife Team | Kiana & Andrew Joyner | TPOT 422
The Practice of Therapy Podcast with Gordon Brewer
If you’ve ever thought about offering couples therapy in your private practice but felt intimidated by the complexity of it, you’re going to love this conversation. In this episode, I’m joined by Kiana and Andrew Joyner, a married duo who run their practice together and specialize in couples work. Kiana is a licensed therapist, and Andrew is a certified professional coach, and together they bring a really unique dynamic into the therapy room. We talk about what it actually looks like to do couples counseling as a husband and wife team, how they divide roles between therapy and coaching,...
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Diversifying Your Income Without Burning Out | Jenny Melrose | TPOT 421
The Practice of Therapy Podcast with Gordon Brewer
If you’ve ever thought, “There has to be a way to make money in my private practice besides just seeing more clients,” this episode is for you. In this conversation, I’m joined by Jenny Melrose, host of the Practice to Profit podcast, and we dive into what it really looks like to diversify your income as a therapist. We talk about moving from one-to-one work into one-to-many offers, creating resources based on the same questions your clients ask over and over, and building income streams that do not require you to be in the therapy room 40 hours a week. Jenny shares practical ideas...
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Private Practice Profit Margins: What’s Healthy (and What’s a Red Flag) | Gretchen Roberts | TPOT 420
The Practice of Therapy Podcast with Gordon Brewer
Running a private practice usually means you did not set out to become a numbers person. You are trained to help people, not to read profit and loss statements or stress about tax projections. But the reality is this. If you own a practice, you are running a business. In this episode, I sit down with of to talk about the financial side of private practice in a way that feels practical and doable. We unpack how to use your financial reports as a management tool, what healthy profit margins actually look like, and the payroll mistakes that can quietly drain your profit. We also talk about cash...
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Treating Neuroplastic Pain in Therapy and Private Practice | Dr. Melissa Tiessen | TPOT 419
The Practice of Therapy Podcast with Gordon Brewer
What if chronic pain isn’t a sign that your body is broken—but that your nervous system is trying to protect you? In this episode, Dr. Melissa Tiessen, a clinical psychologist and neuroplastic pain specialist, joins the show to unpack a paradigm-shifting way of understanding chronic pain and persistent physical symptoms. Drawing on neuroscience, trauma-informed therapy, and real-world clinical experience, Melissa explains how pain can exist without tissue damage—and why that realization can actually be good news. You’ll learn how neuroplastic pain develops, why symptoms can move,...
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Diversifying a Private Practice Through Couples Work | Erin Valente | TPOT 418
The Practice of Therapy Podcast with Gordon Brewer
What if couples therapy isn’t about fixing the other person at all? In this episode, Gordon sits down with Erin Valente, a couples therapist based in Los Angeles, to talk about one of the most common mistakes couples make when they come to therapy—and why real change doesn’t live with one partner, but in the relationship itself. They explore why couples work can feel intimidating for therapists, how regulation and co-regulation shape meaningful conversations, and what it really takes to help couples move out of blame and into connection. Erin also shares how she’s structured her...
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Free Continuing Education for Therapists | Tobin Richardson | TPOT 417
The Practice of Therapy Podcast with Gordon Brewer
In today’s episode, I’m excited to introduce you to Tobin Richardson, the founder of a platform called Save the Therapist. When I first learned about what Tobin is building, I knew this was something many of you would want to hear about. Continuing education is a requirement for all of us, but let’s be honest. It can be expensive, time-consuming, and sometimes hard to fit into an already full schedule. Tobin saw that problem firsthand and decided to do something about it. He created a platform that offers high-quality, accredited continuing education for therapists that is completely...
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Preventing Burnout in Private Practice | Dr. Julie Merriman | TPOT 416
The Practice of Therapy Podcast with Gordon Brewer
There are some conversations you record where you know right away that they’re going to land differently. In today’s episode, I sit down with Dr. Julie Merriman, a therapist, professor, and longtime advocate for helpers who are quietly burning out. We talk about something that hits close to home for many of us in this profession: what happens when we’re really good at helping everyone else, but don’t know how to receive ourselves. Julie shares how so many therapists become what she calls “floating heads of competence.” We’re full of knowledge, skill, and clinical insight, yet...
info_outlineThe sooner you start planning for retirement, the better off you're going to be in the long run. Even if it's just a tiny bit that you save towards your retirement, it's going to make a big difference! Judd Carlton is a financial advisor serving families, individuals, and businesses in Morristown, NJ. He explains the importance of thinking about retirement as soon as possible. Then, we dive into the more financial aspects of your practice. For instance, if you've got a group practice, Judd describes why you may want to create either a 401(k) for your employees or some other retirement plan within your practice. Plus, Judd reveals the differences between SEP IRA & SIMPLE IRA Plans.
Meet Judd Carlton
Judd Carlton is a financial advisor serving families, individuals, and businesses in Morristown, NJ, and beyond. He specializes in finance for business owners and mental health professionals, helping them align the finances of their practice with their long-term financial planning and investment objectives.
Judd graduated Magna Cum Laude from New York University with a BA in Economics and has an MS in Accounting from the Silberman College of Business at Fairleigh Dickinson University. He also holds the CFP® and AIF ® designations.
Judd is also a husband, father of three girls, and dog dad. He posts, blogs, and makes YouTube videos on financial subjects that may be of interest to business owners, psychologists, psychiatrists, and mental health group practice owners.
Think About Retirement Early
It's essential to start thinking early about retirement because, in the world of investing, time is on your side when you have a lot of it. The earlier you get started then, the better things will work out for you because of the power of compounding. Even starting five years or ten years sooner can make a huge difference. As you change and develop in your career, you might jump from an employee role to a self-employed role; then, the complication accelerates. The wise choice when it comes to investing in your retirement is to be conservative. You never want to have an issue or feel stressed about money. Once you cross those hurdles, it's good to start thinking about what's next. So that's often where Judd will offer some guidance about managing your cash flow while saving up for retirement.
How To Approach Retirement
There's a couple of ways to approach setting up the right retirement plan. First, you need to consider what kind of business structure you are working with. If you have a solo practice, saving for retirement will be a lot simpler to figure out. If you have a group practice, things are going to be more complicated. However, both will have great opportunities. A great way to start is with small and simple things. As time goes on, you can really be more methodical and look at every possibility. Hiring therapists can be challenging when there is a mental health crisis. So, you may want to offer therapists a 401(k) option as an incentive. Even as a small business, you can create a 401(k) that feels just like what a fortune 500 company might have. Later, you can start thinking about a pension plan.
SEP IRA & SIMPLE IRA Plans
Judd recommends a few different options when it comes to retirement plans. SEP (Simplified Employee Pension) plan provides employers a method to make contributions to the employees' retirement and their own retirement. The SIMPLE (Savings Incentive Match Plan for Employees) gives employees a way to make salary reduction contributions, and the employer makes matching or nonelective contributions. Each plan has a limit on how high you can go. SEP goes a little bit higher, and there's less flexibility with this plan – everyone is going to get the same percent. Any financial planner or accountant can help you figure out which plan is right for you and your practice.
Why You Should Consider A Roth IRA
The Roth IRA was introduced for people who are early in their career or for people who do not want to save. Some of the regular IRA plans are not that helpful when you are in a lower tax bracket. When you put money into the Roth, you don't get any deductions. However, that money is going to grow for years and years. When you take that money out, it's going to be completely income tax-free. That's going to be tremendous savings; it's a powerful tool. If you're newer to your career and you want to start saving money, Judd highly recommends starting a Roth IRA.
Being transparent… Some of the resources below use affiliate links which simply means we receive a commission if you purchase using the links, at no extra cost to you. Thanks for using the links!
Judd’s Resources
Email Judd: jcarlton@royalnj.com
Judd's Website
Judd on LinkedIn
Judd on YouTube
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Gordon is the person behind The Practice of Therapy Podcast & Blog. He is also President and Founder of Kingsport Counseling Associates, PLLC. He is a therapist, consultant, business mentor, trainer, and writer. PLEASE Subscribe to The Practice of Therapy Podcast wherever you listen to it. Follow us on Twitter @therapistlearn, and Pinterest, “Like” us on Facebook.