In this episode of The Aspiring Psychologist Podcast, Dr. Marianne Trent explores how psychologists and mental health professionals can build sustainable careers with passive income. She breaks down common mindset blocks, explores different income streams, and shares practical first steps to help you get started.

To access Marianne's Replay masterclasses on passive income, working smarter not harder and considering going all in self employed head to: https://www.aspiring-psychologist.co.uk/online-courses

Timestamps

• 00:00 - Introduction
• 01:09 - The Power of Passive Income
• 02:07 - Psychology & Income: Breaking the Stigma
• 03:14 - Addressing Money Blocks
• 04:18 - Burnout & Financial Freedom
• 06:26 - Mindset Shifts for Success
• 07:12 - First Steps to Passive Income
• 08:07 - Books, Courses & Memberships
• 09:25 - Closing Remarks & Next Steps

Links:

📲 To access Marianne's Replay masterclasses on passive income, working smarter not harder and considering going all in self employed head to: https://www.aspiring-psychologist.co.uk/online-courses

🫶 To support me by donating to help cover my costs for the free resources I provide click here: https://the-aspiring-psychologist.captivate.fm/support

📚 To check out The Clinical Psychologist Collective Book: https://amzn.to/3jOplx0

📖 To check out The Aspiring Psychologist Collective Book: https://amzn.to/3CP2N97

💡 To check out or join the aspiring psychologist membership for just £30 per month head to: https://www.goodthinkingpsychology.co.uk/membership-interested

🖥️ Check out my brand new short courses for aspiring psychologists and mental health professionals here: https://www.goodthinkingpsychology.co.uk/short-courses

✍️ Get your Supervision Shaping Tool now: https://www.goodthinkingpsychology.co.uk/supervision

📱Connect socially with Marianne and check out ways to work with her, including the Aspiring Psychologist Book, Clinical Psychologist book and The Aspiring Psychologist Membership on her Link tree: https://linktr.ee/drmariannetrent

💬 To join my free Facebook group and discuss your thoughts on this episode and more: https://www.facebook.com/groups/aspiringpsychologistcommunity

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#passiveincome #recurringrevenue

What do Netflix, Dr. Julie Smith and Headspace all have in common? It's that they've all found ways of working with more people without just offering one-to-one. They are able to offer valuable content which helps their audience whilst also creating sustainable income for themselves. Now, what if I told you that you as a psychologist or mental health professional could do the same? You could earn money while you sleep, when you go for a run or even when you're spending time with your family. You could even earn money when you are in one-to-one sessions. No, this isn't a rainbow unicorn. This isn't something that's too good to be true. It's all about working smarter, not just harder. As psychologists and mental health professionals, we are often so focused on helping others that we neglect to set up sustainable income streams for ourselves. But what if passive income could give you the financial freedom to work fewer hours, reduce burnout, and focus on what truly lights you up. Today we are diving into why passive income is not just for massive names and corporate companies. It's a game changer for psychologists too.

Hi, welcome along. I'm Dr. Marianne Trent. I'm a qualified clinical psychologist. If you've been following me for a while, you'll likely know that I'm passionate about supporting the needs of aspiring psychologists, but also qualified psychologists throughout their careers. But I'm also all about achieving work-life balance and financial sustainability. For me that looks at writing books such as the Clinical Psychologist Collective, but also running the Aspiring Psychologist membership and creating paid for courses and masterclasses on passive income for psychologists and mental health professionals. I want to show you how you can start to do the same. I know it might sound daunting, but I promise you it's not rocket science. I passionately believe that passive income is a must for qualified psychologists and mental health professionals, and even if you are not yet qualified, I still want you to take notice because you could even start to create passive income streams from your existing expertise right now, and that's because it's not just about professional skills.

You could create passive or recurring revenue from your personal passions too. For example, I know of one woman who made a stack of cash teaching people to hula hoop and another who made loads sharing her love of the theatre. So if you have knowledge or a passion that others might find valuable, you already have a passive income opportunity. Perhaps you are feeling a bit hesitant, a bit wary about the idea of making money in your sleep, or perhaps you think no psychology is a vocation. I didn't get into this for the money. I'd say that's probably quite a good job in the most part. But it doesn't mean that you can't be wealthier, that you can't be more comfortable, that you can't have more time to focus on perhaps doing the really nice aspects of therapy like reflecting, like writing in your journals, like doing the formulation perhaps depending on the medium that you work in by doing your process notes, but earning more money, which supplements all of that for you so that you're not having to take on so many one-to-one clients.

I think sometimes we can have deep seated beliefs about money and how it should or shouldn't come to us. Some of us even have money trauma as well from our experiences in growing up or in our relationships past or present. This can really affect the way we think about money, but also about how we prioritise and manage our finances and our financial wellbeing. But the truth is building a sustainable career in psychology, for me at least, means thinking beyond direct one-to-one work. But it doesn't mean that you need to stop the one-to-one work. I love offering my trauma and grief therapy to clients. I never plan to stop, but by having passive income streams and recurring revenue streams, I have more time to do what I love without burnout. So today we are unpacking why passive income is essential for psychologists and mental health professionals, the biggest mindset blocks that stop you from getting started and the first simple steps to create income streams that really work for you and for your clients.

Let's get started by talking about burnout. So many of us, regardless of the stage of our career, are juggling direct client work, paperwork, supervision, CPD, and also trying to have a personal life too. The emotional toll of therapy can of course be high. So I think without alternative income streams, many psychologists and mental health professionals might well find themselves on a direct route to feeling exhausted, overworked, and underpaid. Passive income really helps by reducing reliance on one-to-one sessions by providing financial security to help transition tricky phases like parenting, maternity, paternity leave, adoptive leave illness, career transitions, or even helping to care for your parents. It also gives you the time and the flexibility to explore your other passions or just sit around more or go to a spa or get up a bit later, one day a week, two days a week. It gives you the chance to really begin to think about how you thrive.

For me, passive income has allowed me to do more things like media work, brand partnerships to run this podcast, which absolutely takes a lot of time to develop my membership community and to spend more quality time with my family and friends. What are the blocks then that stop us all from immediately rushing out and doing this? I think for me, the biggest blocks, ironically, are psychological. They are mindset things like imposter syndrome, who am I to create a course or write a book or start a membership? I think the guilt about earning more is a big one too, because in my experience, many mental health professionals can feel uncomfortable about making money beyond their client work. Feeling like you have a lack of time is another big one too. I'm already busy. I'm already at capacity. I don't have the time to build passive income streams or to figure out how to do it, and of course, having a fear of technology.

How would I begin to fathom how to make all of this happen? You might think I've got a great idea for a book or a course, but I dunno how to get that out here and into some form where someone can pay me money for it. The good news is that you do not need to be able to reinvent the wheel. If you have knowledge and expertise, which you do, there's definitely a way to package it all up to help others whilst also benefiting yourself. So what are our first steps for beginning to build passive income? Where on earth do you actually start? So I think it's important to think about leveraging our time for our money, but also leveraging what you already know. What options are there? Well, it's likely that you've read a few books in your time. Have you considered writing one?

It might be a book. It might be an ebook. If you've ever considered it, just do it. My books, the Clinical Psychologist Collective, the Grief Collective, and all of the others have been incredible sources of impact. People really like them, but they've also earned me revenue too. How about online courses, webinars, masterclasses. You've likely attended loads of these in the past. You may even have paid for them. What do you know that you could create and package into a course? Memberships and subscriptions, have a think about those that you already sign up to. Perhaps it is Netflix. Perhaps it's Amazon Prime. Perhaps it's Disney. Perhaps it's Preta Monja. Perhaps it's HelloFresh Apple Fitness. Think about what you get for your money and actually what you need to be able to offer your clients might be less than you imagine. Perhaps you could create an online space or community, maybe even a membership too.

Now, I know as a psychologist, I have a tonne of self-help and mental health focused books. How about the resources that we accumulate along the way to workbooks, reflective journals, digital downloads can all be really simple ways of beginning to generate passive or recurring revenue. If this episode has sparked your curiosity, I'd love for you to take the next step with me. Please also check out my content on passive income on my website, which is www.aspiringpsychologist.co.uk. Then go to the learn with me online learning tabs. Please let me know in the comments what passive income idea you are considering, who you are, what area you work in. Please do chat with and support others. The comments too, if you resonate with what they're talking about, consider subscribing and liking their channels too. If you enjoyed this episode, please do like, subscribe, share, comment, do all of those good things. If you are listening on MP three, please do subscribe to the show. It really is the kindest thing you can do for free for any podcaster that you rate. Thank you so much for listening or watching to this episode. I do hope you have found it helpful. If you're looking to become

A psychologist, then let this podcast.