Judd Carlton | Retirement Planning In Private Practice | TPOT 179
The Practice of Therapy Podcast with Gordon Brewer
Release Date: 05/24/2021
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The Practice of Therapy Podcast with Gordon Brewer
Maureen Clancy has been a licensed therapist and trauma expert for the past 20 years, helping women go through enormous life changes who have experienced childhood trauma. In this episode, Maureen shares her journey of integrating alternative healing modalities into therapeutic practice. She discusses her exploration of various methods such as energy work, acupuncture, and Reiki alongside traditional therapy, emphasizing the holistic nature of healing. Maureen reflects on the limitations of the conventional therapeutic profession and advocates for the incorporation of alternative approaches to...
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The Practice of Therapy Podcast with Gordon Brewer
Kasey Compton is on a mission to help business owners find their entrepreneurial confidence. She went from bankrupt to Boss Babe when she took her first company from zero to three million in less than three years without ditching her life to do it. She owns three other businesses that have accumulated assets of over two million and are growing by the day. Her superpowers include cutting through the clutter to identify a strategic starting point, increasing efficiency through systems, and tapping into a person’s highest potential. She helps others by designing maps for their...
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Dr. Jan Carney | Empowering Professionals: The Importance of Public Health Education | TPOT 325
The Practice of Therapy Podcast with Gordon Brewer
Dr. Carney is Associate Dean for Public Health and Health Policy, and Professor of Medicine, at the Larner College of Medicine at the University of Vermont (UVM). She is Chief of the Division of Public Health at the Larner College of Medicine and directs graduate public health education. In this episode, we cover Dr. Carney’s multifaceted approach to addressing various aspects of healthcare and public health. From guiding individuals through the maze of health information to advocating for systemic changes and collaborative efforts, Dr. Carney's insights underscore the complexity of...
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Dr. Connor McClenahan | Crafting Client-Centered Profiles: An Approach to Authentic Engagement | TPOT 324
The Practice of Therapy Podcast with Gordon Brewer
Dr. Connor McClenahan founded Here Counseling, which provides a membership model for private practice so therapists can run their own private practices independently while benefiting from group resources. Dr. McClenahan runs a private practice in Los Angeles and Pasadena and has taught, coached, and written on digital marketing for therapists. His new 100-page workbook helps therapists build a strategic marketing plan and grow their practices. In this episode, Dr. McClenahan dives into the delicate balance private practice owners face between self-doubt and sincere empathy. Advocating for a...
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Cameron Schober | Therapeutic Frontiers: Healing Innovation in Private Practice | TPOT 323
The Practice of Therapy Podcast with Gordon Brewer
Cameron Schober is an LPC-S and LMFT-S in the State of Texas, primarily practicing at The Hope Place in Mansfield, TX. Cameron’s main areas of clinical focus is treating trauma using a combination of Accelerated Resolution Therapy, psychedelic-assisted integration, and postmodern therapy approaches in conjunction with psychoeducation related to trauma and it’s effects on our nervous systems as well as our lives. In this episode, we talk about Cameron's journey through the realm of therapeutic practices, navigating challenges, and embracing novel approaches to healing. From grappling with...
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The Practice of Therapy Podcast with Gordon Brewer
Carla Titus is a finance expert with over 15 years of combined corporate financial planning, analysis, strategy, and online businesses experience. She provides fractional CFO services and financial consulting to business owners looking to grow their business profitably. Her priorities for her clients are to help them grow profits, have cash in the bank, and pay themselves well so they can build personal wealth. The journey to financial success in any business requires a solid foundation and forward-thinking strategies. Carla, a seasoned financial advisor, emphasizes the critical role of...
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Dr. Liz Lasky | Adapting Private Practice for Modern Needs | TPOT 321
The Practice of Therapy Podcast with Gordon Brewer
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Kristie Plantinga | A Guide to Effective Digital Marketing Tactics in Private Practice | TPOT 320
The Practice of Therapy Podcast with Gordon Brewer
Kristie Plantinga is a mental health nerd, writer, and marketer living in Colorado. She is the founder of TherapieSEO—a marketing agency serving therapists and coaches—and —a therapist directory that vets therapists so therapy-seekers can focus on fit, not quality. When she’s not writing about mental health and dreaming up creative content strategies, Kristie can be found snuggling her multiple terriers, sipping a homemade dirty chai, and half-helping her husband cook Lebanese food. This episode is all about navigating the evolving landscape of digital marketing. Kristie emphasizes the...
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The Practice of Therapy Podcast with Gordon Brewer
Malka is a Licensed Clinical Social Worker in New Jersey, New York, and Florida. She has been in the mental health field for over 25 years and has successfully run her private practice for the last 15 years. In response to the events of October 7th and the ongoing situation, Malka Shaw, LCSW and Stacey Shapiro, LCSW, have co-founded the Kesher Shalom Project. This initiative, led by seasoned trauma specialists, has trained over 2000 therapists globally. Their training equips therapists with vital tools to aid Jewish clients during the conflict, covering trauma assessments, practical...
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The Practice of Therapy Podcast with Gordon Brewer
has been working for over 20 years to support individuals, groups, families, organizations, and businesses. Jason is excited to bring over two decades of work in offices, institutions, kitchens, farmers’ markets, woodlots, and boardrooms to wild new environments. Whether as a psychotherapist, the creator and founder of JourneyMen, public speaker, thought leader, or narrative consultant, Jason believes that our lives are adventurous, and we can and should be active, engaged authors of our own adventure stories! In this episode, Jason critiques the societal norms that suppress male...
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!
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Email Judd: [email protected]
Judd's Website
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Judd on YouTube
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Meet Gordon Brewer, MEd, LMFT
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.