Is it ever too late to start a private practice?

Financial Success at Any Age

In this episode of 'Therapy for Your Money,' host Julie Herres talks with CJ DeMarco, a therapist who transitioned to private practice later in life. They discuss setting up for financial success using the Profit First system. Key topics include the advantages of private pay, the importance of niching, and the potential of intensives for trauma therapy. DeMarco shares her journey from educator to trauma therapist, highlighting that it's never too late to achieve financial security. A must-listen for therapists venturing into business and those curious about Profit First strategies. "Today's the best time to then make decisions that are going to impact your life in the best of ways," says Julie Herres.

Show Highlights

• 00:00 Introduction to Therapy for Your Money
• 00:55 Meet CJ DeMarco: A Non-Traditional Path to Private Practice
• 02:36 Financial Strategies for Late Career Transitions
• 04:27 Specializing and Setting Rates in Private Practice
• 07:09 Retirement Planning and Financial Security
• 10:30 Exploring Semi-Retirement and Marketing Strategies
• 26:48 Considering Group Practice and Passive Income Options
• 34:00 Conclusion and Final Thoughts

Episode Highlights

• 00:00 Welcome to Therapy for Your Money
• 00:48 Common Financial Mistakes in Private Practice
• 01:17 Mistake #1: Short-Term Thinking
• 04:12 Mistake #2: Underestimating Startup Effort
• 07:11 Mistake #3: Misunderstanding Fee Retention
• 09:08 Mistake #4: Ignoring Taxes
• 11:02 Mistake #5: Feeling Guilty About Profit
• 13:45 Introducing the Money for Therapists Practice Startup Course
• 16:23 Conclusion and Disclaimer

Links and Resources

• Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
• GreenOak Accounting - www.GreenOakAccounting.com
• Therapy For Your Money Podcast - www.TherapyForYourMoney.com
• Profit First for Therapists - www.ProfitFirstForTherapists.com
• Profit First Academy - www.ProfitFirstForTherapists.com/Academy 
• Podcast Production and Show Notes by Course Creation Studio

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