
Jason Voorhees
Say cheese
- Joined
- May 15, 2020
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Asked my friend on which field to get into for medcels
A user @4ever asked me for advice on which field to specialize in. If it was finance or tech I could have pointed him in the right direction but I am absolutely clueless when it comes to medicine so I casually asked an old friend on his opinion. Just for context he's an Attending Physician who...
Continuation of our conversation. To summarise it.
Well most people I know are in debt. You do pre-med,then med school and residency where you get paid around $60-75k
Average total debt at graduation is around $300K-$450K and after interest capitalization during residency. It is often over $50OK by payoff time
Holy shit. Half a million in debt. OMG
That is how it works in this field. You are younger than me and make more money. Even after all this, taxes will eat up a lot of your income.35-45% effective and most super speciality doctors live in high tax states or cities near large hospitals.
Around age 40, once loans are paid and investments catch up life is good but the overall lifetime net worth even for elite doctors is less than a mid level software engineer who's been saving and investing since 22.
This is why I think medicine isn't something you do for money. It's more for the prestige, stability than anything. If you want to make money young I think tech is the easiest path despite having layoffs and lot of competition.
Holy shit. 500k in debt. What the actual fuck. I would unironically kms if I had that much debt and had to wait till 40 to build any wealth.
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