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