ABSTRACT
This chapter explores three specific ways in which money impacts the clinical work and/or the clinical work impacts the financial decisions. In dealing with money, it is important to honor the feelings and then to act with rational, enlightened self-interest. Honoring and sorting through the feelings can be a difficult and anxiety-provoking journey. For most therapists in private practice, it makes good sense to work with a financial planner, as running one's own business necessitates a good many financial decisions, many of which may benefit from professional input. Financial planners are paid in one of three ways (often in combination): by commission, fee based on assets under management, or fee-for-service such as a yearly or hourly fee. Stock brokers or money managers play an extremely important role in financial plan, but the role of financial planner should be to find highly qualified money managers for each asset class people are invested in.
