Medical School

Bump for interest. It's debt but you'll be a wage slave and paying it off for years. If you don't get into med school you're basically screwed.

>not incur debt unless they absolutely have to

What a dumb rule you have. Debt is leverage and can be a powerful tool if used correctly.

>>1004137
That's just what I have been told. I'm young, I take much of what I am told in regards to finance as gospel. We are talking 200k+ debt here, does that still hold true?

>>1004146

Yes you dumb fuck.

Go to med school for something with a high earning potential, like general surgery or specialized surgery like cardiothoracic or something, dont go for something that makes pennies (<$150k)

Then med school is worth it.

Also, debt can be leveraged at any amount, you just have to know how and when to do it.

Read the book "why we want you to be rich" by donald trump and kiyosaki, it talks about debt a lot, good book.

>>1004063
>don't incur debt unless on has to
That's the novice's mindset. I was that way as well and was proud of myself.

Fast forward 15 years and I tapped my business credit line (which I don't need anymore) to the max at 2.25% interest for the lifetime of the balance, issued a loan to the sole shareholder at 2.25% over 9 years and dumped that money into my trading account

>>1004063
>>1004182
No medschool is not worth it.

First of all you will never get in unless you really really put everything into it during undergrad. Second of all even if you do it's a shitton of debt and 10 years of lost wages.

Becoming a doctor for money is simply not worth it. If you want to be a doctor because you want to be a doctor then it is worth it.

>>1004137
>Debt is leverage and can be a powerful tool if used correctly.
Ha ha....That is what all the US domestic oil producers said a few years ago. Now they are fucked.

>>1004225
Fuck off. They made ass tons when it was ripe, and will come back. Debt is still a valuable tool, and in business is often far better than giving away equity

I'm on track with this as well. any way. If its what you want to do that's great, but you are playing with fire. You have to know how to put it out.

Medicine as a career will not make you money, if money is your goal. 150k Doctor salary means, 28% tax rate so 122k per year. -2k per month min payment for 10 year loans @ 175k balance (low average).
98k per year spending money. If you go aggro in Frugal and debt service, you can live for say 40k. and 50/50 40k into the investment and debt accounts . with say 8k for entertainment.
So debt free in 5.5 years. w/ 78k disposable income.
Doing no moonlighting and never gotten a raise and doing no extra work and having no investments on the side.
Its not a bad position to be in. If you can reduce your need for loans by renting out rooms while in med school at some profit etc... you'd be way way ahead of the game.

alternatives include Dental. my friend is a 3 year old dentist and grossed 1M this year. Just bought a lakehouse.

Most general care positions are being replaced by Nurse Practitioners. If you really want to go to medical school, it'd only be worthwhile if you're going for it all (surgeon, radiologist, ____ist, etc.). GPs, Pediatricians, etc, are being replaced by FNPs for half the cost.

>>1004063
You can just have you're own "group" that sees patients in skilled nursing facilities (nursing homes) and hire out nurse practitioners to actually do the work (you visit once a week to troubleshoot)

You pay them whatever and take a cut, I'm a nurse and I see this all the time.

>>1004502
So boring though, doctors already have a really high suicide rate, its higher for dentists

>>1004502
This. Wish I wasnt so Fucking grossed out by the procedures.

>>1004510
Look his house cost 200k. I can have a lot of fun for the 300k after taxes.
his b-day present for the strip clubs

https://www.youtube.com/watch?v=2c_foIMh7KE

File: 1449611450567.jpg (36KB, 500x364px) Image search: [Google]

36KB, 500x364px

>>1004510
also you're gonna turn down 300k b/c you might commit suicide

>>1004063
It's not a path to ruin, but have you noticed that a lot of "first world" countries are importing a lot of doctors from whateveristan? That'll keep future earning potential down. On the other hand, if you're halfway competent you'll stand out.

Do it because you want to be a doctor. Do it right and you'll be solidly middle class. You'll be able to afford that Lexus RXwhatever, instead of the Toyota shoebox that your neighbors own.

>>1004601
You aren't even scratching the surface of why Doctors have it great.

Doctors get better retirement plans in the form of Keogh and SEP-IRA. Doctors have access to cheaper medical care for their family. Doctors have the ability to accept things other than cash or insurance for payment. That's how doctors make their money and live comfortably.

>>1004063
I love her so much

>>1004607
I hadn't thought of the services trading. this is great if you have a network.

>>1004063
No it's not worth it, even if you don't consider the debt.

Believe me, I'm an MD. Doctors have to work for every penny they get; you have to actually physically meet and treat the patient (especially if you're a surgeon). There's the rare exception for Radiology, where you work with images. But in general, you have to be constantly working to earn; in many other lines of work you can profit more just by sitting at a desk.

>>1004513
Actually in my opinion dentists have it a lot easier. Patients only care about their current condition and you never get involved with the family. Besides we get to do much more disgusting stuff than dentists, especially during training.

>>1004063

med school is hell.

and you sacrifice the best years of your life.

but yeah you'll make a shitload of money and all the women will be on their knees to marry you.

To me, the pain aint worth it. I know multiple docs IRL.

Doctors, specialists, hogh qualified nurses, dentists and optoms etc. All have the potential to make a lot of money.

The problems with all are:
1. Takes years of study and you have to be increasingly intelligent to be a good doctor or dentist for example
2. These are very narrow degrees so i you come out after 6+ years of study and hate the work you have nowhere to go. There are no other fields hiring medical degree grads so you better fucking love medicine.
3. These jobs increasingly rely on government funding which is always under pressure, so you obviously want to make sure your job is stable and you are able to work both public and private sectors.
4. If you get deregistered there's maybe a hundred grand and several years of your life down the drain.

But of course if you enjoy the work, don't fuck up and can hack the study then yes, medicine and most medical fields are very good jobs, most doctors and dentists will be on over 200k, specialists can rake in 600k, an optom maybe 100k, nurses anywhere from 30k up to 120k for very qualified management nurses or nurse practitioners. You won't make CEO 8 million dollar salaries plus bonus, but you'll make a more than comfortable living. Wage approximations are Australian, it might vary a lot in your respective countries.

>>1004799
it's different.
Show me a hip replacement, or a blue waffle I'm fine.
But a fucking root canal and I freak the fuck out.

>>1004205
This guy gets it, right here.

If you want to be a doctor to get rich, you're fucking retarded. They're paid well, but if money is your goal, this is not the right path.

Something like an in demand engineering field will make a lower but comparable wage. Couple this with the fact that you don't have to devote 10+ years to med school, residency, and a fellowship; and the fact that you don't have to incur 200k+ in debt.

So now the engineer has 10 years of wages plus no debt (2 years of wages). So the engineer is 12 years ahead of the doctor.

You become a doctor because you want to be a doctor. Not to get rich. You become a hedge fund manager to get rich.

My wife just finished her fellowship this year and is decided where she wants to work. I'm self employed and she out earns me by a good deal. We're currently middle class. Will easily be lower upper class in a decade.

>>1005115
Most hedge fund managers won't even come close to being rich

>>1004928
> all the women will be on their knees to marry you.

too much tv man... If you were on 4chan before medschool you'll still be here afterwards.

Med school isn't worth it. After 4 years of medical school and 4 years of being a low paid resident who works 80 hours a week you'll finally start making six figures. Now consider how much it costs to operate a practice. How much does it cost to lease office space? How much does it cost to hire a secretary? Malpractice insurance is like $100,000 on top of those.

Meanwhile you'll be paying off your $250,000 debt from med school. That's like paying off a small house, except that you won't have a house at the end of it.

There's far easier ways to become successful. The only tip I have is don't do your undergrad in "pre-med". Do it in something useful (but obviously take the bio/chem courses you need for the MCAT). I did my undergrad in computer science and seriously considered going to medical school until I started getting $6000/mo internships in Silicon Valley. I ended up saying fuck it and took the six figure job out of college. Admittedly I worked hard to become successful, but nowhere near as hard as if I had become a fucking doctor.

>>1004063
Who is this semen demon

>>1005314

What is a medical doctor doing on a Vietnamese basket weaving messageboard, man?

>>1005998
I was a 4chan user before studying; now I just come to the (new) /biz/ board sometimes.
The reason why I sometimes post is because I realized too late what a bad choice it was to study medicine from a business & finance standpoint and it makes me angry when I see medicine posted as a "god tier" career.

>>1006030

How old are you? For how long have you been on 4chan? And how was the name of the "old" /biz/ board (the current one is form Feb. 2014) ?

>>1005358

If this was true then no one would be a doctor.

>>1004608
that pic is photoshopped but yes, still hawt as f

>>1005115
what if you're shit at math?