Finding Financial Freedom and Avoiding Burnout (A Theoretical Approach)
10 questions from the lesson, checked as you go.
Check what you learned
10 questions from this lesson. Answers are checked as you go; nothing is recorded.
1 / 10
What was the approximate gross revenue for the therapist when seeing an average of 12.5 clients per week at $192.50 per session?
Hint
Look at the paragraph describing the economics of a 10 to 15 client week.
The lesson states that with 12.5 clients a week at $192.50 per session the therapist could take 4 weeks off and still gross about $115,500.
2 / 10
What were the estimated routine overhead expenses for the practice in a year?
Hint
See the line that mentions overhead expenses like EHR and liability insurance.
The lesson estimates routine overhead expenses at around $15,500 for the year.
3 / 10
How much net profit did the therapist have after overhead expenses?
Hint
Net profit is gross revenue minus overhead expenses.
Subtracting $15,500 overhead from $115,500 gross leaves a net profit of about $100,000.
4 / 10
What employee deferral limit could the therapist contribute to a Solo 401(k) in 2025?
Hint
The lesson lists the employee contribution limit for 2025.
The lesson states that as the employee, they were allowed to defer up to $23,500 in 2025.
5 / 10
What percentage of adjusted net earnings can a single‑member LLC contribute as an employer profit‑sharing contribution?
Hint
Look at the description of the employer side of the Solo 401(k) contribution.
The lesson says the business can contribute 20% of the adjusted net earnings as the employer contribution.
6 / 10
Approximately how much could the therapist contribute as an employer profit‑sharing amount on a $100,000 net profit?
Hint
The employer contribution is calculated after deducting half of the self‑employment tax.
The lesson calculates the employer contribution as about $18,587 for a $100,000 net profit.
7 / 10
What is the total amount the therapist could funnel into their Solo 401(k) in a single year combining employee and employer contributions?
Hint
Add the employee deferral limit to the employer profit‑sharing amount.
The lesson states that combining the $23,500 employee deferral and $18,587 employer contribution yields $42,087.
8 / 10
Why does the lesson suggest the Solo 401(k) is superior to a SEP IRA for this therapist?
Hint
Compare the contribution features of the two plans described.
The lesson explains the Solo 401(k) is superior because it allows both employee deferral and employer contribution, whereas a SEP IRA only permits the employer side.
9 / 10
What is the maximum loan amount the owner could borrow from their Solo 401(k) without early withdrawal penalties?
Hint
See the section on Participant Loans.
The lesson states the owner can borrow up to $50,000 (or 50% of the balance) without penalties.
10 / 10
Which platform charges a $299 annual fee but automates the Mega Backdoor Roth and allows alternative asset investments?
Hint
Check the paragraph describing where to open the account.
The lesson describes Carry as costing $299 a year and offering those features.
Worth another look