How Chiropractors Can Build Wealth Now and Later: The Proven Strategies That Changed My Life
As a chiropractor turned practice consultant, I’ve had the privilege of working with hundreds of chiropractors looking to scale their businesses, increase cash flow, and ultimately build lasting wealth. But here’s the problem: most of us were taught the wrong financial principles. We were led to believe that wealth is a function of how much money we save, how much risk we take, and how long we’re willing to wait.
The truth is, financial independence isn’t about waiting 30 years to retire or cutting back on your lifestyle today. It’s about creating recurring revenue from assets that cover your expenses—whether that’s from your practice, real estate, or other cash-flowing investments.
Recently, I sat down with my good friend and financial expert, Garrett Gunderson, to dive deep into how chiropractors can start building wealth now, not just later. If you’re ready to reclaim the money that’s slipping through your fingers and put it to work for you, keep reading or watch this.
The Biggest Financial Myths Holding Chiropractors Back
Most chiropractors fall into the trap of believing three financial myths:
You need to save more money to be wealthy.
You need to take bigger risks to increase returns.
You need to wait decades for wealth to accumulate.
These traditional ideas don’t create true financial independence. Instead, they lead to chiropractors overpaying taxes, taking unnecessary investment risks, and delaying the benefits of financial success.
Here’s the real formula: optimize cash flow, eliminate financial inefficiencies, and strategically invest in your business and other assets that produce income.
What is Financial Independence?
Financial independence happens when your assets generate enough recurring revenue to cover your expenses. This could come from:
Your chiropractic practice (especially if you scale and delegate effectively)
Real estate investments
Intellectual property (books, courses, online programs)
Dividend-paying investments
The key is to make sure your money is working for you, rather than being funneled into inefficient expenses or lost through poor tax planning.
Where Chiropractors Are Losing Money (And How to Stop It)
Money is leaking from your pockets in ways you don’t even realize. If you look at any major city, the biggest buildings are owned by banks, Wall Street firms, and the government—because that’s where most of our hard-earned dollars go.
The Four Areas Chiropractors Lose the Most Money:
Taxes (IRS Overpayment) – Most chiropractors overpay taxes simply because they don’t take advantage of available deductions and reclassification strategies.
Interest (Poor Debt Structure) – High-interest loans and inefficient debt repayment plans drain profits.
Investments (Hidden Fees & Low Returns) – Traditional financial products often have high fees that eat away at your returns.
Insurance (Duplicate or Overpriced Coverage) – Many chiropractors pay for unnecessary or inefficient insurance policies.
How to Fix It:
Reclassify your income to legally reduce taxes.
Restructure debt for better cash flow.
Eliminate wasteful investment fees and redirect funds to higher-yield opportunities.
Review insurance policies to optimize coverage and costs.
How Chiropractors Can Increase Cash Flow by 20-200%
One of the biggest breakthroughs in my own career was realizing that optimizing cash flow could dramatically impact my wealth. In fact, most chiropractors who implement these strategies see anywhere from a 20% to 200% increase in cash flow.
Here’s how you do it:
1. Set Up a Wealth Capture Account
Most chiropractors fall into the trap of increasing their expenses as their income grows (this is called Parkinson’s Law). Instead, automate your savings by setting up a separate account where a percentage of your revenue is deposited every month before you spend it.
2. Invest Back Into Your Business First
Before looking at outside investments, optimize your practice:
Hire strategically to free up your time for higher-value activities.
Invest in better systems to improve efficiency and profitability.
Upgrade equipment that can generate more revenue.
3. Optimize Your Tax Strategy
This is where most chiropractors leave tens (or even hundreds) of thousands of dollars on the table. A well-structured tax strategy can help you keep more of what you earn. Here are a few powerful strategies:
Pay yourself strategically – Set up an S-Corp to take a reasonable salary and the rest as distributions to avoid self-employment tax.
Rent your home to your business (Augusto Rule) – Legally rent your home to your business for up to 14 days per year, tax-free.
Convert active income into passive income – If you own your practice building, rent it to your business at the highest market rate.
Consider a C-Corp for tax-free business sales – If structured correctly, you can sell your practice and pay zero capital gains tax.
Leverage charitable giving strategies – Donating appreciated assets (like artwork) can result in a 2-to-1 tax benefit.
How Chiropractors Can Build Wealth Now and Later
The biggest shift you need to make is understanding that you don’t have to choose between wealth now and wealth later—you can have both.
The Proven Formula for Wealth Acceleration:
Plug Financial Leaks – Reduce taxes, fees, and inefficient spending.
Increase Cash Flow – Invest in your practice first to maximize returns.
Build Liquidity – Have a financial cushion so you’re not forced into bad decisions.
Invest in What You Understand – Stick to areas where you have expertise (real estate, business growth, etc.).
Structure for Maximum Efficiency – Use legal tax strategies to keep more of what you make.
Avoid the traditional mindset that tells you to scrimp, save, and hope for the best. Instead, focus on strategies that accelerate your wealth now, while setting up long-term financial security.
Take the First Step Toward Financial Freedom
If you’re serious about taking control of your financial future, I highly recommend starting with a financial health assessment.
Garrett and I have partnered to offer chiropractors a Cash Flow Recovery Session—a personalized strategy session where we analyze your financial setup and show you exactly where you’re leaking money (and how to fix it).
Exclusive Offer for Chiropractors: For just $1,000, you’ll get:
✔ A comprehensive financial health assessment
✔ A one-on-one session to identify savings opportunities
✔ Actionable strategies to immediately improve cash flow and reduce taxes
✔ A money-back guarantee if you don’t find the session valuable (plus an extra $500 from Garrett personally!)
To book your session, click here: https://garrettgunderson.com/frogley
Your financial future is in your hands. Stop overpaying taxes, stop losing money to inefficiencies, and start building true wealth today. Let’s get you financially free—now and in the future.
