Scary Stories

I need to back away slowly from Ye Olde Social Media - I stumbled across a post by a colleague in my “Mature Veterinarian” group - basically concerned that she will never be able to retire. I can sympathize, being in a precarious financial situation myself these days.

“I’m posting anonymously because, frankly, I am ashamed of my financial position and don’t want people to know this about me. I am of the age where classmates of mine are retiring or have already retired. I do not see how I can ever stop working. I do not have hardly anything in savings. I had a late-in-life divorce and I gave up a lot financially just to keep the peace and not have a long, drawn-out fight. I feel how tired I am at the end of the day and worry how long I can physically practice as the years go by. I have been and always will be an associate and never wanted to be a practice owner. I have always accepted low salaries because of my personality…people-pleasing and sacrificing.  I thought it would make the practice owner like me more if I didn’t ask for much. I could go on and on. Not sure what I’m looking for by posting this. Maybe to see if there are others like me. Maybe to see if any of you have suggestions on how an older veterinarian can earn money besides active practice. I will continue to do this as long as I can. I just wish I had been financially smarter and that circumstances had been better in my life.” 

Folks chiming in the comments shared similar tales of woe, most related to divorce turmoil.

 This is exactly what has happened to me....38 year marriage and a six year dragged out divorce by ex who had an affair and is now married to the adulteress.... I owed $165,000 in attorney fees , have a lien on my  house.    I was straddled with a student loan my kid won't pay, the ex says I signed it  ($132,000 for both kids 2 degrees and 2 minors)    I am a practice owner, but my associate retired...can't find or afford another with the COVID shutdown and now high inflation and economy.   I am almost 69 and cannot afford to sell.  I can't live long after taxes on an sale if I live say another 20 years.    I would lose my nice home of 42 years that I got from the divorce and be on the streets or in a bad area.     I struggle to maintain a gross to pay adequate staff due to health issues and age.    (which has been so hard to find and keep and costing me way more than years back and with taxes on them).       I do love my profession and am good at it so I do drops offs for 90 percent of medical cases and staff can get diagnostics for me and well pet/exams/vaccine or simple things like check an ear or itchy skin which I can get done fairly quick.   I utilize staff my staff to the maximum and go in at a time based on my schedule.  I do my own bill paying, order drugs (had a trusted staff ordering on my account and sending things to her house!)  , accounting, banking  (staff stealing cash deposits I trusted once)    (because in 42 years I have been stolen from, scammed and will never let anyone have my checks and pay bills or know my business)     I try not to think of anything.  I just keep going and plan to until I can't walk in the door.     I adjust my schedule going in depending on what we have.  Surgeries I go in earlier,  otherwise around noon after staff lunches.   They intake patients, do anal gland, nail trims, clean, inventory until I get there.   I am efficient and fast and in 42 years have seen about everything so practice is easy.  I also have board certified internists and surgeons who work as needed.  Yep, I think there are many of us in the same position.     I feel for you and right there with you.   Having a business is frightening.  I have a lease monthly and outrageous expenses to run a veterinary hospital of any size in today's world.   I have to work or I lose everything I have known.   As my grandfather told me..."It's hell getting old."

And my own comment:

Did I write this? No, wait - I AM a practice (& hobby farm) owner, even as chronic fatigue drags me down, down, down. At this point I’m working to keep my farm & all my critters afloat, I’m too emotionally attached to liquidate but it feels like struggling through quicksand - there’s no escape but also no end in sight.

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I am often plagued with worry about theft/embezzlement by my employees but at this point everything seems to be OK - I think it would destroy me if I found out one of my current crew was a thief.

My own cash-flow situation should improve in a few months since a good client (semi-retired) has volunteered to be my foreman on the remodeling project. I have faith that he will not screw me over…I may be bemoaning this decision in a few months but I’ve GOT to have some help - I do not have the stamina to spearhead this project  myself - not and keep up with all my appointments!

So the carousel continues  to spin…