Last month, I made the case that financial freedom, not wellness programs or surface-level perks, is the real antidote to burnout, and that practice ownership is the most reliable way to achieve it. This month, I want to go deeper into the how: building a strategy that creates financial wellbeing, addressing the skeptics, and showing why ownership is also an investment in your community.
Strategy for Building Financial Wellbeing Through Ownership
Building financial freedom should start early, ideally in Veterinary school. We take on massive loans to earn the title of veterinarian, but too often we do it without a plan to pay them back. One of the most common approaches discussed by students is income-based repayment, but I believe it is one of the worst strategies. Salaries may be higher now than when I graduated in 2014, but I know too many colleagues who have not touched the principal of their loans. That is a financial trap that only grows deeper with time.
If financial planning is not your strength, get help early. Meet with a financial planner in your first year of Veterinary school. Start thinking about how you will begin paying down your loans with your very first paycheck. A clear plan from the start sets you up to move from surviving to thriving much faster.
Practice ownership or partnership is the tool that accelerates this process. Buying into an existing practice or starting your own creates leverage that a salary alone cannot provide. Ownership gives you equity, and equity builds wealth. Paying down some debt first can make that leap into ownership feel less daunting, but waiting forever for the “perfect” moment will only delay the benefits.
Ownership does not have to be a solo venture. A partnership with the right mentor can be a smart way to start. That is how I began, and those “training wheels” gave me the confidence and skills to succeed as an owner in my own right.
For veterinarians considering their next job, my advice is this: do not focus only on salaries and signing bonuses. Those may feel good in the short term, but they do not build wealth. Ask yourself bigger questions: Will this position set me up for future ownership or partnership? Will a long-term contract tied to a large signing bonus limit my ability to move into ownership later? Look beyond the quick paycheck and think about what will create long-term financial stability and freedom.
Addressing the Skeptics
Let’s be honest. Practice ownership is not for everyone. It does take a certain mentality and poise to commit fully to it. I am not saying ownership is the only path to financial wellbeing. You can pay off your loans as an associate, and I have seen colleagues do it in under three years without holding equity.
But ownership provides something associates cannot access. It gives you the chance to step outside the 8-to-6 routine, build wealth beyond your paycheck, and take full control of your schedule. You still work, but you only answer to yourself. Ownership helps you create financial wellbeing, build an asset that grows in value, and make money even when you are not directly seeing patients. The money helps buy your time, and the control helps you own your time. That is the real difference between a highly paid associate and an owner.
The economy will always have uncertainty, consumer trends will always shift, and no investment comes without risk. But Veterinary medicine is not a luxury industry. Pets are family, and owners consistently prove they will spend money on their care. Owners who adapt, innovate, and focus on value will thrive in any economy. Waiting for perfect conditions is simply waiting for nothing.
Ownership as an Investment in Self and Community
Burnout in Veterinary medicine is often described in terms of the long hours, the emotional weight of cases, and the difficult clients we all encounter. Those are real, but they are not the whole story. Burnout is also financial. It is the weight of student loans that feel impossible to pay off. It is the frustration of working long days without any control over your schedule, your pay, or your future. It is a workplace problem just as much as it is an emotional one.
That is why the flag I plant is around creating ownership and leadership opportunities as a direct way to combat burnout. My goal in building a new hospital network is not only to deliver excellent Veterinary care, but to create a platform where veterinarians can find purpose beyond the exam room. Ownership provides that pathway. Statistics consistently show that owners report lower burnout rates compared to associates. Why? Because ownership creates autonomy, agency, and the ability to shape your own future.
Money is not evil. It is a tool. A tool that buys your time back, reduces financial stress, and allows you to live with more freedom and purpose. It will not solve every problem, but it will solve a lot of them. The burden of loans can be crushing, and ignoring that reality only makes burnout worse. We must start talking about money in a healthy way. We must accept that while Veterinary medicine is not pursued out of financial motives alone, passion and charity are not enough to sustain a career. If we do not take care of ourselves, we cannot take care of our teams, our clients, or our patients.
Ownership is not just about income. It is about building culture, investing in people, and creating a community resource that reflects your values. It is about leaving a legacy that outlasts you. Financial wellbeing, purpose, and leadership all converge in ownership, and that is why it remains one of the most powerful antidotes to burnout in our profession.
So here is the call to action. If you have thought about ownership, stop waiting for perfect conditions. Stop letting fear dictate your career. Take the leap. Ownership will challenge you, but it will also give you freedom, stability, and meaning. The real wellness program in Veterinary medicine is not pizza parties or yoga sessions. It is financial freedom. It is control of your time. It is purpose outside of the exam room. And the most reliable way to build all three is through practice ownership.