Kids and earning potential
Having a family also means my practice-purchasing potential is lower. Due to my huge home responsibilities and expenses, I have less energy and less savings with which to buy out my bosses. Delaying everything for five to 10 years—not an unusual choice for someone in my position—means five to 10 fewer years of owner-level income. The disparity between associate and owner is so large that even five years adds up to a huge chunk of change.
Perhaps the income disparity isn't so great for those who don't seek practice ownership, but for those who do, we're talking about a large percentage of one's lifetime income lost to child-rearing responsibilities.Dr. Patty Khuly is an associate at Sunset Animal Clinic in South Miami, Fla.