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Welcome to the show notes for Episode 172 of the OT Schoolhouse Podcast.
In this episode, Doug Vestal, author, and financial guru, uncovers the path to financial freedom for occupational therapists. He will dive into the heart of money management and share how he and his wife tackled $150,000 of student loan debt in three years and offer invaluable strategies to help you do the same.
From budgeting tips to investing insights, Doug equips OTs with the tools to boost their financial health and leverage financial stability to become more effective practitioners. Whether you’re an OT seeking to start your own practice or simply aiming to get out of debt and plan for the future, this episode is your roadmap to financial empowerment.
Listen now to learn the following objectives:
Learners will identify the importance of financial literacy
Learners will identify strategies to help pay down debt
Learners will identify budgeting strategies and how to allocate funds effectively
Guests Bio
Doug Vestal, Ph.D. helps OTs achieve occupational choice and freedom through private pay practice. He co-founded The Functional Pelvis with his OT wife, Lindsey, and has over a decade of experience managing an OT private practice. Before working with OTs, he spent 15 years in senior management on Wall Street, including as Global Head of Counterparty Credit Risk at a major investment bank. Drawing on his business acumen and passion for entrepreneurship, he has helped hundreds of OTs build successful private pay practices. Doug holds a Master’s in Financial Mathematics and a Ph.D. in Applied Probability. He is dedicated to helping OTs gain treatment, time, and financial freedom on their terms. He is the author of the only personal finance book for occupational therapy practitioners called "Financial Freedom for OTs: A Guide to Building Wealth Without Burnout"
Quotes
“Number one limiting belief, I think, is people are thinking that money is the root of all evil. And in fact, money is just a tool. Right? In and of itself, it's just paper. Right?.”
-Doug Vestal, Ph.D.
“So I know money in and of itself is not an activity…managing your money, budgeting your money, saving your money, investing your money… Money is an essential ADL .”
-Doug Vestal, Ph.D.
“If I'm able to accumulate more money in my life, it allows me to give back to the causes and to the people that are important to my life, and I have a lot more agency and choice. And that's a really beautiful shift to see a lot of my students go through.”
-Doug Vestal, Ph.D.
“A lot of our thoughts around money are very subconsciously driven by our experiences as when we were children. And so I always ask people to sit in a quiet place and recall, like, keystone memories from your childhood.”
-Doug Vestal, Ph.D.
“Focusing and knowing that it's up to you to decide how you direct and use the money that you have is really empowering.”
-Doug Vestal, Ph.D.
“The only way to beat inflation is to start investing”
-Doug Vestal, Ph.D.
Resources
Episode Transcript
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