How to Build Wealth on a Therapist’s Salary


There are only 3 ways to build wealth in your life as a therapist. Which one is right for you?  

As a therapist, if you are an occupational therapist OT, physical therapist PT, speech-language therapist SLP, or any other type of therapist and want to make more money than you currently are then let's get started on discovering which path to wealth-building is right for you!

I LOVE being a therapist.  I love helping people.  But I feel there is a very big issue in the helping professions and especially in healthcare and education.  Our salaries are capped and while we may make decent money as new graduates, there is very little career growth.  

We have to take things into our own hands.  Overall there are only 3 ways to build wealth.  

1 – Save and Invest – This option includes changing jobs and careers to increase income.

2 – Build a Business, but not a JOB.  You must be willing to become the Boss – Stop doing all the work!  

3 – Build Passive Income Streams. This is the NEW way.  Build courses, books, etc.  But this is not as easy as it looks!

I personally have done all 3!  I started building wealth the first way, I didn't want to do the 2nd but I did!  I call myself a “reluctant business owner”.  And here I am now with #3! 

Which one is right for you?  

We became therapists already, we love helping people, but we want to make more money. What can we do now? What is your long-term plan? Let's look at your options.

Option 1: Saving and Investing to build wealth as a therapist

There are a few things to consider if you decide on this path.  

  • Are you good at budgeting?
  • Do you currently live below your means?
  • Are you a saver?
  • Do you have little or no credit card debt? (If you do, you need to reduce this asap even if you decide on a different path!)
  • Do you like learning about finances and investing?

If you answered yes to most of these, then this path may be right for you!  

If you have debt I recommend checking out Financial Peace University, although I have not used this program personally it has been recommended many times as a good basic way to get out of debt.

If you are ready for more. I highly recommend ChooseFI. Finding the FIRE movement was a game changer for me.

Finding a way to travel for almost free changed my life. Look for an article on FREE Travel using credit card rewards soon!

Option 2: Start a Business and Become the Boss

The Is Private Practice Right for You? the download will help you decide if this is the right option for you.  

You must be willing to learn to be a business owner like to manage people and be willing to spend some money to get there.  

Notice I don't say to just start your own practice.  I do not believe that this is the path to building TRUE wealth.  It is a path to other things that are important in life.  Like more freedom, more money, and more time. 

But you still have an income ceiling as your income is dependent on YOUR time.  You are still trading Time for Money.  If you want to have your own business for other reasons, then I will show you how, but building true wealth depends on not doing all the work yourself.

This is not an overnight wealth builder but the income potential is the highest.  

If you decide to go this route for wealth building learn more at 6 Steps How to Start an Occupational Therapy Business. And see my article Why Rehab Therapy Practices Need to Optimize their Digital Presence

There are different types of OT businesses you can start. It does not need to be a therapy practice. Think outside the box! Read my review on starting a Mommy and Baby Class. And my review of a course on starting Handwriting camps coming soon!

Option 3: Build Passive Income Streams through a Side Hustle

This is the path right for you if you want to build wealth while starting as a side hustle.  The great thing about passive income streams is you can start small, and start for very little money.  The negative is, that it is not a “build it and people will come” type of product like people believe.  NOTHING is really that simple, unfortunately.

I don't recommend doing this all on your own, there is way too much to learn!  Piecing the information together is a very very slow process (believe me!).  

Passive income strategies I have developed include: Website/Blogging, Digital products, Books, and Courses.


Making money off a website or blogging is a long-term game. But one thing you need to do is understand traffic and SEO.

For basic how to start a blog, I recommend Passive Income Pathways. Sadie is great at teaching how to get started. I highly recommend you start the right way with a course.

Once you have started and want to learn (a lot!) more about SEO I recommend Simply SEO It. Petra is AMAZING. She starts from the basics which is so important as SEO is a super complicated process.

Learn how to make money online as a therapist with

Niche Mastery for Rehab ProfessionalsNi

Niche Mastery for Rehab Professionals

To learn about other passive income streams look at my Ultimate Guide to Side Hustles for Therapists.

Which will you pick? And how will you get there?

The choice is yours and yours alone.  But if you are looking to build wealth, there are only a few choices.  Which one will you pick?  Will you keep doing what you are doing or move forward?  Is early retirement important to you?  Can you save?  Does your household have 2 incomes?  Is your free time more important or are you willing to work a side hustle?  

How will you build wealth? Tell me which you picked and I will send you suggestions to get there!

This post may contain affiliate links, meaning if you purchase a product or service through my link, I may receive a commission at no extra cost to you.


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