In this episode, I talk with Dr. Angela Koivula, psychologist and adjunct instructor at the University of Florida, about navigating financial realities in the mental health profession and its impact on career decisions.
Key Takeaways:
- Financial Planning & Sustainability: Many therapists face significant challenges in planning for retirement due to a lack of resources and knowledge about financial management in the mental health field. The constant need for marketing and client acquisition adds to the financial pressure, making self-care days seem like a luxury.
- Private Practice Realities vs. Perceptions: The perceived glamour in private practice marketing often hides the tough realities. Many professionals feel conflicted between their values and the demands of running a successful practice. Angela shares her journey of shifting focus during the pandemic, finding lucrative contract work, and educating herself on financial independence to secure a more stable career path.
- Systemic Issues & Solutions: The mental health profession is fraught with systemic issues like high student debt and low entry-level wages, making the field unsustainable for many. Angela argues for the need to re-evaluate career paths, customize work schedules for better work-life balance, and prioritize debt reduction for true financial freedom.
More about Angela:
Dr. Angela Koivula, Ph.D. (she/they) is a Licensed Psychologist with over 15 years experience in the mental health field serving individuals, couples, and groups as well as active and retired military personnel and wellness industries. She is a Black and Queer individual on a journey to be her most authentic self in everything she does. Her roots originate in Kansas City, MO, and is a lifelong, die-hard Kansas City Chiefs fan!
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✨ The Receptionist for iPad
Thanks to The Receptionist for iPad for sponsoring this episode.
The Receptionist for iPad is a HIPAA-ready digital check-in system that eliminates the need to walk back and forth from your office to the waiting room to see if your next appointment has arrived. Clients or patients can check in for their appointments, and you'll be immediately notified by text, email, or your preferred channel. Break free from interruptions and make the most of your time, because it is valuable. Start a free 14-day trial of the Receptionist for iPad by going to thereceptionist.com/privatepractice. Make sure to start your trial with that link to get your first month free if you decide to sign up.
Free Gifts for Our Listeners
✨ Free Podcasting Workbook
Get a practical podcasting workbook for therapists considering starting a podcast, created by Patrick Casale, host of the podcasts All Things Private Practice and Divergent Conversations.
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✨ Move Beyond Private Practice As A Neurodivergent Entrepreneur
Move Beyond Private Practice As A Neurodivergent Entrepreneur is a FREE 5-part mini-course designed for therapists who want sustainable financial independence beyond one-on-one work.
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Mentioned in this episode:
The Receptionist for iPad
The Receptionist for iPad is a HIPAA-ready digital check-in system that eliminates the need to walk back and forth from your office to the waiting room to see if your next appointment has arrived. Clients or patients can check in for their appointments, and you'll be immediately notified by text, email, or your preferred channel. Break free from interruptions and make the most of your time, because it is valuable. Start a free 14-day trial of the Receptionist for iPad by going to https://thereceptionist.com/privatepractice. Make sure to start your trial with that link to get your first month free if you decide to sign up.
