006: Why I decided to quit private practice

Hey, fellow therapists! I'm sharing my experience of leaving my therapy practice three months ago. Financially, running a private practice isn't as lucrative as advertised, considering overhead costs and admin work. The emotional toll of the pandemic, along with inadequate compensation, contributed to my decision. I realized my evolving desires for variety in my work and the trap of the sunk cost fallacy. Ultimately, I chose to leave to honor my well-being and aspirations. Top Three Takeaways: Financial Realities: Private practice earnings can be deceptive due to overhead costs, insurance battles, and admin work. Recognizing the gap between projected earnings and take-home pay is crucial. Balancing Emotions: The pandemic magnified the emotional toll of being a therapist. The struggle to juggle clients, family, and practice responsibilities took a toll on my mental and physical health. Evolving Desires and Identity: As therapists, our identity can be tied to our career. However, it's okay to evolve and desire something different. Overcoming the sunk cost fallacy is important to embrace new paths. Remember, your journey and insights can help others navigate their own career decisions in the therapy field. Your experience serves as a reminder to prioritize financial stability, emotional well-being, and personal growth. More from me: www.drjenblanchette.com