Private practice physical therapists choose to work for themselves for the purpose of achieving a higher quality of life then they can when they work for someone else. However, there are external forces that can prevent private practice professionals from reaching their financial goals. P. Christopher Music, author of What Every Private Practice Physical Therapist Needs to Know About His or Her Financial Future, points out the external factors that hold professionals back from achieving a sound financial future they have worked so hard to build up. He drives home the fact that we rely on others too much for financial advice: including listening to the television, reading financial publications, asking a financial advisor, accountant, or even a family member in an effort to gain insight on making sound financial decisions, instead of our own confidence in our ability to make sound financial decisions.
Many people think that the topic of financial prosperity is beyond their grasp so they rely on someone else for advice and more often than not they receive bad advice. The biggest discredit to personal wealth for private practice professionals comes from a few major areas, according to Music. For one thing, the banking industry controls all the currency we use for purchases and earns interest on all of the money in existence which contributes to inflation and depreciates the value of the dollar. Secondly, the government has the power to tax people into the poorhouse and as a private practice professional, if you do not have a handle on reducing your income taxes they can create a major barrier to your wealth.
Two other barriers to achieving financial prosperity are debt and financial predators. In today’s society most people see obtaining credit as having money as it is so promoted by financial institutions. Most consumers receive offer after offer to obtain credit and end up in more debt than they are worth. Then there are the predators that think private practice professionals are affluent and in today’s litigious society they file a lawsuit for every little infringement that they think is imposed on their lives.
P. Christopher Music helps private practice physical therapists swim upstream against the external powers with What Every Private Practice Physical Therapist Needs to Know About His or Her Financial Future, a financial tool packed with useful advice on how to break down these barriers and achieve prosperity, transparency and well being in one’s financial life.
About P. Christopher Music:
After 18-plus years of being a financial planner, P. Christopher Music decided there had to be a better way. Witnessing financial debacles of big industry and government-driven economies caused Christopher to take action, developing an instrument that measures the success of any financial plan. The Financial Prosperity IndexTM (FPI) is the back bone of Music’s firm, Wealth Advisory Associates (WAA). WAA is a financial planning firm focused on helping private-practice physical therapists understand and implement the most effective strategies to achieving financial success and security. Visit www.wealthadvisoryassociates.com
