Ryan Derousseau, CFP®

Financial planner and writer. Primary focus is on personal finance, investing and planning, but other interests slip out as well.

[Ryan Derousseau, CFP® @RyanDerous]

Avoiding the 401k match isn't just ignoring free money.

The 401k match is part of a salary package. When you ignore the match, you're actually giving money back to your employer for work that you did.

In essence, you're telling the employer to pay you less!

[Ryan Derousseau, CFP® @RyanDerous]

Want to understand the basics of investing? I break it down by likening it to the head and brain.

Tools you choose (the skull) = determines tax implications.
Products you choose (the brain) = determine fees.
Assets you choose (neurons) = determines risk.

[Heard 💸 @joinheardinc]

Have you started saving for retirement? We recently published a helpful article breaking down how you can start.

Thank you to @RyanDerous for lending some of your wisdom!

Check it out: https://t.co/O5FiwfcKAs

[Josh St Laurent CFP® CFT-I™ @josh_stlaurent]

Why Financial Planning Matters! (And how to find your true goals in life)

This episode of the Wealth In Yourself Podcast featuring Ryan Derousseau, founder of Thinking Cap Financial, is available now on YouTube and all podcasting platforms! #financialplanning @RyanDerous

[Ryan Derousseau, CFP® @RyanDerous]

Changing demographics in the labor market - boomers leaving and Gen-Z entering - create an opportunity for private practice owners.

You can find a buyer if you turn your practice into an asset. But then the practice has to be something that can live beyond you.

[Ryan Derousseau, CFP® @RyanDerous]

If you only hear from your advisor once a year, so they can tell you about their vacation and two moves they're going to make in your portfolio, then you don't have an advisor that's working for YOU.

[Ryan Derousseau, CFP® @RyanDerous]

Investing has 3 layers of decisions. I liken it to the head.

1. The skull is the tool you're using to invest - Roth, 401k, etc. (taxes)
2. The brain is the product - index funds, ETFs, etc. (fees)
3. The neurons are the assets - stocks, bonds, etc. (risk)

[Ryan Derousseau, CFP® @RyanDerous]

Here are two questions I ask clients when they want to make a hire:

1. What rate will the therapist be able to charge?
2. Do you have enough extra clients to feed them?

We must know that the employee will bring value.

[Ryan Derousseau, CFP® @RyanDerous]

14: The number of years in a row that active large cap fund managers have underperformed the S&P 500.

Investing isn't gambling. It just requires recognizing the best solutions long-term.

[Ryan Derousseau, CFP® @RyanDerous]

Financial gurus like to say there's some secret to building wealth in America. In reality, you must either invest in:

1. the markets
2. business(es) and/or
3. real estate

By doing so, you can create space for yourself and your business: https://t.co/EZQjlNbIbG

[Ryan Derousseau, CFP® @RyanDerous]

Interesting research from the APA: therapists are most at risk of burnout early and in mid-career.

Those that make it past the early grind, seem to see significant reward: https://t.co/O5dwW07uBI.

[Ryan Derousseau, CFP® @RyanDerous]

What questions should you ask yourself before deciding to make a new (or first) hire?

[Ryan Derousseau, CFP® @RyanDerous]

Do you plan to sell your business or private practice when you're done/retiring? Or do you have something else in mind?

[Ryan Derousseau, CFP® @RyanDerous]

Have you built your private practice or solo business to grow?

Or have you created an income source, with no end in mind?

The difference is everything in regards to how you will feel about the business moving forward.

[Ryan Derousseau, CFP® @RyanDerous]

If all your advisor talks to you about is their fancy car or extravagant vacations, with a quick recap of your investment returns, then they don't likely have your best interest in mind.

And you're the one paying for those toys.

[Ryan Derousseau, CFP® @RyanDerous]

Remember that investing in your friend's business might be a great idea. But you will likely have less protections when doing so.

Only do so if you have a clear understanding of the risk and when you will see gains.

[Ryan Derousseau, CFP® @RyanDerous]

When budgeting, think about:

1. Your fixed spending (mortgage, savings)
2. Your flex spending (food, entertainment)
3. Your non-monthly spending (car insurance, vacay)

Having all three sections accounted for will make it easier to understand where the money goes.

[Ryan Derousseau, CFP® @RyanDerous]

Most self-employment experience in retirement:

"You spend countless hours working to build your client base, creating a name for yourself and designing your perfect practice. By the end...all this work disappears."

Change that: https://t.co/EZQjlNbIbG

[Ryan Derousseau, CFP® @RyanDerous]

How do you ensure you sleep well at night while your assets grow while investing?

[Ryan Derousseau, CFP® @RyanDerous]

You have to be able to sleep at night when investing.

Treating your investments like a roulette wheel will not allow you that quiet in your finances.

Plus, for most people, treating the investments like that will ruin wealth.

[Ryan Derousseau, CFP® @RyanDerous]

It's important not to overthink investing.

You're not a professional investor. You're a therapist.

(Oh, and pro investors aren't great at it either!)