I just created a new weekly newsletter that may interest you? It’s called:

The world is changing, and AI is impacting all areas of life, including mental health. Rather than avoid this reality, I’ve chosen to learn as much as possible to better education myself (and my clients). Each week, I’ll send you an email with the latest info on AI and Mental Health. To join, it’s super simple! Just click this link (or the image above), submit your email, and you’re all set!

In this week’s newsletter, I cover Wysa (an AI Mental Health platform) and much more!

Hello, and welcome to Counselor Weekly! Thanks again for being part of the community!

Here's the short and skinny of today's newsletter:

• Meme of the Week

• Weekly Practice Tip

• Interesting Articles

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Meme of the Week

This Week’s Practice Management Tip

How to Invest for Retirement in Private Practice

Put all your money in Bitcoin! Just kidding!

First off, if you’re in private practice and you haven’t started investing, set everything else you’re doing to the side and make this your PRIORITY! That might seem dramatic, but I’m not joking.

In private practice we don’t have company matched 401ks, pensions, IRAs, or any other type of retirement investment established through a company. We’re on our own! It’s crucial to create an investment portfolio to prevent working until you’re dead! If you want to keep working into retirement age (I know I plan to) that’s great, but you don’t want to feel the burden of NEEDING to work for money. My goal is to work during that phase of life because I enjoy the clients and can pick-and-choose how much I want to schedule each week.

So how do we invest for retirement? PLEASE NOTE: I’m not an investment advisor, these are just my opinions. Recommend you consult with investment professionals to determine what’s best for you.

Step 1: hire a FIDUCIARY financial investment advisor. Fiduciary is in bold because this means your financial advisor will act solely in your benefit, typically for a set fee rather than commissions based. Working with your advisor, they will set up your accounts and create an investment strategy based on your goals.

Step 2: you simply tell them how much you want to deduct from your account each month, and they do the rest. This is a “set it and forget it” strategy towards investments in which you pay your advisor an annual fee to manage your investment portfolio.

I would recommend setting up a meeting with your advisor at least once per year to review your portfolio and make any recommended changes.

This is playing the long game. It’s not a quick “get rich” scheme. The goal is to make sound investments over the next 20-30 years that will set you up for retirement.

Any other strategies you use for retirement investments? Feel free to share and I’ll send out an email with all the other ideas recommended (anonymously if you prefer).

How to Invest with Variable Income as a Therapist

Speaking of investments, here’s an article about investing with a variable income from Heard. If you’re in private practice, I imagine your income varies month to month.

Retirement Plans for Therapists in Private Practice

A very thorough article on different retirement options.

Are you an LPC Supervisor in Texas? Need your 6 Supervisor Refresher CEs?

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Check out my course site HERE!!