There is a common misconception in today’s society when it comes to financial planning – it’s too complicated, says P. Christopher Music, creator of the Financial Prosperity Index TM (FMI). Music believes that society misunderstands financial prosperity due to the trends of misinformation and immorality on the subject of money. Private practice physical therapists tend to follow these trends which prevent them from achieving financial prosperity with their business.
In What Every Private Practice Physical Therapist Needs to Know About His or Her Financial Future, Music says that the process of financial planning is simple - it has to do with time and money. Most people take their time and convert it to money. In the case of private practice professionals they invest many hours into their practice in an effort to increase income. Other people in society work as many as two jobs attempting to convert time to money but never seem to achieve financial prosperity.
The key to financial prosperity is to reverse converting time to money by taking money and converting it to time. Music says that the equation is simple for private practice owners and it involves determining how much time physical therapists want to spend earning money at later points in life.
Music points out that many people work well into the later years of their life because they have not set money aside. The private practice professionals who have carefully planned the income earned from the practice will be able to generate revenue from that money regardless if it is from retirement accounts, savings, or the proceeds from the sale of a practice or other assets. The income invested comes from a practice that is well run with the money properly allocated and expenses kept at a minimum. As a result, private practice physical therapists are able to take money and convert it to time from the income that is coming from their assets. Music says that this is the key to financial planning and the simple equation for financial security.
About P. Christopher Music
P. Christopher Music is an MBA, Certified Wealth Preservation Planner, Certified Asset Protection Planner, Registered Financial Consultant and Certified Management Consultant. He is the President of Wealth Advisory Associates with nearly 20 years experience in financial planning and business consulting with a specialization in advising private-practice physical therapists. Mr. Music applies both his financial and business acumen toward a holistic and healthy-growth approach to investment planning. Visit Mr. Music at www.wealthadvisoryassociates.com
