Featured Therapist:

Dr. Crystal Collier, PhD, LPC-S offers a free prevention program (click the photo above), as well as books offering a validated neurodevelopmental approach to help parents raise their kids to refrain from engaging in high-risk behaviors. You can also check out her books by clicking the photos below 👇:

Would you like to be featured on Counselor Weekly? If so, hit REPLY to this email and let’s see if we can share your info with all our readers!

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 Day

• Weekly Practice Tip

• Interesting Articles

Meme of the Day

This Week’s Practice Management Tip

Retirement Planning in Private Practice

If you’re in private practice, one major challenge is planning for retirement. We don’t have pensions, company matched 401k programs (though some private practices are starting to roll out this benefit), or any other retirement plan established like when you work for a company as a W-2 employee. So what do you do?

First off, I’m NOT a financial advisor so this is simply my thoughts and experiences. For additional guidance, I recommend seeking out an expert (like my advisor Daniel C. Goodwin).

Step 1: meet with a FIDUCIARY advisor. This is important because they act on your best interest and typically are paid a set fee for services rather than a percentage of what you invest (like a lot of the big investment firms do). It's crucial to have someone who is solely focused on your financial well-being and can provide unbiased advice tailored to your specific situation.

Step 2: through your investment advisor, set up investment accounts that best fit your long term needs. The goal here in my opinion is to create accounts that automatically draft a set amount each month towards your retirement (set it and forget it strategy). By automating your contributions, you ensure consistent savings and take advantage of the power of compounding over time. This approach allows you to gradually build a healthy retirement account over the course of 25-30 years.

Step 3: get life insurance (a term plan is what I chose). This can be obtained through multiple vendors (or set up through your advisor), but having a term life insurance plan hedges your bet by providing a payout if something unfortunate happens over the next 30 years. This way, you can ensure that your family is financially secure even in your absence.

Step 4: alternative investments. Diversifying your investments is the key here. While traditional investment options are important, exploring alternative avenues can provide additional stability and potential growth. My recommendations include investing in more stable options such as buying rental property or investing in Real Estate Investment Trusts (REITs). These alternative investments can offer a steady income stream and potential appreciation over time. There are numerous platforms available, such as Robinhood, Arrived, Betterment, etc., that allow you to explore and engage in alternative investment opportunities.

Step 5: be consistent and weather the storms. Start as soon as you can (yesterday was the best day to start) investing. It doesn’t have to be a significant portion of your income, but any amount you can set aside for retirement is better than nothing. Consistency is key, and by staying committed to your retirement savings plan, you can navigate through market fluctuations and economic uncertainties with confidence.

Gen X Marriages Are Crumbling Because of Workplace Stress

I don’t know about you, but helping clients navigate work stress is becoming a much bigger part of my practice. In fact, I’ve started providing more structured career counseling services recently.

And speaking of career counseling, I went out on a limb recently and agreed to participate in a podcast with Dr. Sharon Givens, past President of the National Career Development Association. We discussed multiple topics including busting the myth of the “perfect” job. You can give a listen here:

8 Digital Mental Companies for Therapists

Though I’m now almost completely against these online startups, I wanted to at least provide a list of the major players. Why am I against these companies? It will be in next week’s post.

Considering an additional source of 💵? Check out this online platform for a quick/easy way to grow your practice with little to no expense.

In Texas, my rates for 53-60 minute sessions range from $84-$129. Keep in mind that Headway takes care of everything at no cost to you and guarantees payment! Click below for more info👇:

Are you an LPC Supervisor in Texas?

Are you an LPC Supervisor in Texas wanting to market your services and connect with potential Associates? Are you recently graduated from your Master’s program and beginning the search for an LPC Supervisor? If so, Find Your Supervisor is a directory for LPC Supervisors to list their information in a searchable index so that potential Supervisees can connect with them and hopefully find a perfect match! There’s even a FREE version! Though you will not get all the robust search capabilities and members only resources you receive with the paid version, the FREE option still allows you to market basic information about your practice.

What do I get in the paid version? The short answer: A LOT! CLICK HERE to access the pricing page to learn more. Just think, if you contract with one new Associate from the site, the PREMIUM plan has paid for itself for the whole year within one month. PLUS, I’m giving you a discount code to take one of my Supervisor Refresher Courses (6 hours of CEs) for FREE as part of the Premium membership. It’s almost paying for itself just with that discount.

If you have any questions, click REPLY to this email and I can answer any questions you have. Thanks again for allowing me this personal promotion! 🙏

Don’t forget you can now receive some cool rewards simply by referring your friends/colleagues/parents/whoever to Counselor Weekly by clicking below: