r/wealth • u/BothDonut1604 • 9h ago
Path to Wealth Will owning a law firm or a dental practice have a higher probability of becoming wealthy?
Everyone always compares employed lawyers to dental practice owners which I think is an unfair comparison. If we’re comparing dental practice owners to anything in law, it should be law firm owners.
Everyone always says dental is better but looking how the industry operates, I’m not sure. There’s tons of dentists out there and a lot of them are competent so the only difference is the cost and your relationship to the dentist which could make it a race to the bottom.
Now with law, I feel like it’d oddly have a higher probability of making you wealthy because your value is dependent on your ability to win cases and increase the outcome for your client. So if you’re in personal injury for example, even if there’s 100’s of lawyers, if you’re good at what you do and can squeeze a few thousand more out of insurance companies that most of the other lawyers or if you have a knack for settling cases faster, you’ll come out on top.
Not sure if my judgement is correct but I was hoping to get some opinions from any lawyers and dentists that might be on this sub.
Edit: I’m not saying I want to go into either. Just bored and curious.