Besides Neurosurgery, which specialties have both lay and professional prestige?

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Originally Posted by johnnydrama

About what?

Ever since that whole libertarian fiasco, you said you would nopt take me seriously. Nevermind, how is radiology treating you, is the proverbial ROAD specialty stereotype true?

Doc. No thread hi-jacking

Originally Posted by DOC PENGUIN

Ever since that whole libertarian fiasco, you said you would nopt take me seriously. Nevermind, how is radiology treating you, is the proverbial ROAD specialty stereotype true?

Originally Posted by johnnydrama

2.5%? I'm guessing you meant 2.5x unless you're living in Cleveland.

Oops. Yes 2.5x not 2.5%. Posted while racing out of said house for work.

Originally Posted by pseudosquam

In fact some may describe me as a financial savant.

I wouldn't. And unless you want to sign those 'people' up for SDN and have them post here, that anecdote is superfluous.

Originally Posted by pseudosquam

Doc. No thread hi-jacking

Yes, don't hijack the thread that started out about professional and lay prestige and has turned solely into your inability to understand a mortgage. God forbid, don't do it!



I hate this planet.

Mods:

Perhaps you should sticky thread...maybe omit the posts except for the ones I made about finances.

Originally Posted by 3176401

Lol, you physician making 200k today will make the same 200k 30 years later? Get real, its only been in the last few years that physician income has not been keeping up with inflation. An income of 200k in 1982 is about 480k today; I purposely said 400k to seem conservative. Anyways, I didn't mention student loans because it seems pretty obvious that in order to have 200k for a downpayment, you would need to have your student loans paid off already. Yes, in order to pay off student loans and collect enough money for a 200k downpayment the physician would have to live frugally for another 4-5 years after residency, but this is one of the sacrifices a physician would have to make it to buy a million dollar home.. Okay, let's assume we live in a state with income and state taxes and we take 140k as our take home salary. You do realize that the 4700 figure I mentioned would be considerably lower because it includes florida property taxes (which run around 1.1k-1.2k for per year on a million dollar home)? I'm done arguing here, but banks still need to lend out money despite the economy. A physician (physicians have best job security, which gives them another reason to hand out a loan) with no student loans, good credit score, and a downpayment of 20 percent wouldn't have much of a problem receiving a 800k loan for a million dollar home.

Dont forget income isn't the only thing that rises with inflation. The only useful measure is the percent above inflation at which it rises, which based on trends, physician income hasn't been doing. I can't help but notice that you completely avoided responding to the budget analysis, but if you'd like to purchase a home 5x your income and fulfill the stereotype that physicians are bad at managing money, go right ahead .

Originally Posted by TAWS

I don't know about mortgages but I have over a $100,000 credit line with all of my credit cards combined. I am a med student with no income. Getting that kind of mortgage is not out of the realm of possibility.

and gentlemen, here we have a perfect example of a financially stupid doctor-in-training.

Originally Posted by notbobtrustme

and gentlemen, here we have a perfect example of a financially stupid doctor-in-training.

Uhhh, I find this post very ironic considering your comments in this thread: http://forums.studentdoctor.net/show...1#post12922771

Edit: I guess technically this is not financial stupidity so much as lack of perspective.

Originally Posted by notbobtrustme

and gentlemen, here we have a perfect example of a financially stupid doctor-in-training.

Just because I have a high credit line means I am financially stupid? You do realize my credit score is probably better than yours? You don't build credit history by not taking out loans/credit cards.

Originally Posted by FunnyCurrent

Who gives a **** what muggles think

I'm adding this to my sig. Cool?


No, seriously, you'll see it in a minute.

Originally Posted by notbobtrustme

and gentlemen, here we have a perfect example of a financially stupid doctor-in-training.

Why does this make him financially stupid?

Originally Posted by TAWS

Just because I have a high credit line means I am financially stupid? You do realize my credit score is probably better than yours? You don't build credit history by not taking out loans/credit cards.

My credit score is literally perfect :P

Originally Posted by notbobtrustme

My credit score is literally perfect :P

Having a perfect score means nothing if you have a limited or non-existent credit history.

Originally Posted by notbobtrustme

My credit score is literally perfect :P

As opposed to figuratively perfect?

Back on topic...

I knew one trauma surgeon who was well respected; however, I think it had more to do with him than his specialty. The guy was intense but at the same time was an expert.

FYI: For those of you that were having trouble with the concept of mortgages earlier I thought you may enjoy this reading: Idiots Guide to Mortgages.

http://www.amazon.com/The-Complete-Idiots-Guide-Mortgages/dp/1592575412

I still think that if you're a young guy starting out with med school loans you should take full advantage of your relatively larger income and not buy too much house. Maybe after this reading you'll understand some of the financial implications.

Originally Posted by pseudosquam

Back on topic...

I knew one trauma surgeon who was well respected; however, I think it had more to do with him than his specialty. The guy was intense but at the same time was an expert.

FYI: For those of you that were having trouble with the concept of mortgages earlier I thought you may enjoy this reading: Idiots Guide to Mortgages.

http://www.amazon.com/The-Complete-I.../dp/1592575412

I still think that if you're a young guy starting out with med school loans you should take full advantage of your relatively larger income and not buy too much house. Maybe after this reading you'll understand some of the financial implications.

Yea...because that put the thread right back on track.

Originally Posted by pseudosquam

FYI: For those of you that were having trouble with the concept of mortgages earlier I thought you may enjoy this reading: Idiots Guide to Mortgages.

http://www.amazon.com/The-Complete-Idiots-Guide-Mortgages/dp/1592575412

I still think that if you're a young guy starting out with med school loans you should take full advantage of your relatively larger income and not buy too much house. Maybe after this reading you'll understand some of the financial implications.

LOL. This keeps getting better...

Originally Posted by pseudosquam

Back on topic...

I knew one trauma surgeon who was well respected; however, I think it had more to do with him than his specialty. The guy was intense but at the same time was an expert.

FYI: For those of you that were having trouble with the concept of mortgages earlier I thought you may enjoy this reading: Idiots Guide to Mortgages.

http://www.amazon.com/The-Complete-I.../dp/1592575412

I still think that if you're a young guy starting out with med school loans you should take full advantage of your relatively larger income and not buy too much house. Maybe after this reading you'll understand some of the financial implications.

So you've fallen from financial savant to complete idiot?

Originally Posted by pseudosquam

Back on topic...

I knew one trauma surgeon who was well respected; however, I think it had more to do with him than his specialty. The guy was intense but at the same time was an expert.

FYI: For those of you that were having trouble with the concept of mortgages earlier I thought you may enjoy this reading: Idiots Guide to Mortgages.

http://www.amazon.com/The-Complete-Idiots-Guide-Mortgages/dp/1592575412

I still think that if you're a young guy starting out with med school loans you should take full advantage of your relatively larger income and not buy too much house. Maybe after this reading you'll understand some of the financial implications.

If that book is what you used to educate yourself about mortgages, I highly recommend against reading it

Originally Posted by johnnydrama

So you've fallen from financial savant to complete idiot?

Originally Posted by xf3rn4nd3sx

If that book is what you used to educate yourself about mortgages, I highly recommend against reading it

Nah he was just a loan officer at countrywide

I wonder what pseudosquam is like in real life. Seems like a total tool who shouldn't become a doctor.

Originally Posted by Parklife

I wonder what pseudosquam is like in real life. Seems like a total tool who shouldn't become a doctor.

I hope I never get to find out.

Originally Posted by johnnydrama

Having a perfect score means nothing if you have a limited or non-existent credit history.

True, but I'm 30 and definitely have an extensive credit history, including a mortgage.

My score was 830 when I bought my car last year, which is about as high as it can get.

Originally Posted by notbobtrustme

True, but I'm 30 and definitely have an extensive credit history, including a mortgage.

My score was 830 when I bought my car last year, which is about as high as it can get.

Each disbursement of medical loans was accompanied by a drop of 10 points off my previously 800+ credit score.

myfico.com to monitor your credit score

Originally Posted by FunnyCurrent

Each disbursement of medical loans was accompanied by a drop of 10 points off my previously 800+ credit score.

myfico.com to monitor your credit score

That's odd. Typically loans don't hurt your credit score so long as you're making scheduled payments.

Originally Posted by pseudosquam

Back on topic...

I knew one trauma surgeon who was well respected; however, I think it had more to do with him than his specialty. The guy was intense but at the same time was an expert.

FYI: For those of you that were having trouble with the concept of mortgages earlier I thought you may enjoy this reading: Idiots Guide to Mortgages.

http://www.amazon.com/The-Complete-Idiots-Guide-Mortgages/dp/1592575412

I still think that if you're a young guy starting out with med school loans you should take full advantage of your relatively larger income and not buy too much house. Maybe after this reading you'll understand some of the financial implications.

This book was sitting on the shelf at B&N. Surprisingly, it didn't say anything about only buying a home that is less than your annual income.

Originally Posted by thesauce

That's odd. Typically loans don't hurt your credit score so long as you're making scheduled payments.

Opening a credit card or getting a loan hurts your score a little at first.

As you make payments though, your score more than makes up the difference.

Originally Posted by johnnydrama

Opening a credit card or getting a loan hurts your score a little at first.

As you make payments though, your score more than makes up the difference.

Opening a new credit card account will typically increase your score, even at first. The credit inquiry hit to your score is more than offset by the decrease in your credit utilization, which is a much larger contributor to FICO.

I can't recall if government-backed student loans pull your credit. If they do, that could potentially be a reason, but 10 points is far more than usual. Typically, it's only a point or two.

Originally Posted by thesauce

Opening a new credit card account will typically increase your score, even at first. The credit inquiry hit to your score is more than offset by the decrease in your credit utilization, which is a much larger contributor to FICO.

I can't recall if government-backed student loans pull your credit. If they do, that could potentially be a reason, but 10 points is far more than usual. Typically, it's only a point or two.

Hmm... Guess I'll have to actually look this up now. I've never paid too close attention because my score has always been great.

I believe our stafford loans improve our credit score, even when not in repayment. I could be wrong though.

Debt to income ratio is where you get creamed. Bigger player when trying to get a loan for something, but that's the main use for a credit score.

Originally Posted by Mjolner

Debt to income ratio is where you get creamed. Bigger player when trying to get a loan for something, but that's the main use for a credit score.

Yeah, I'm playing around with Lending Club and the FICO scores have been pretty worthless for predicting defaults compared to other things (eg DTI).

Originally Posted by johnnydrama

Not true at all.

Even in Manhattan, there are decent apartments (1 bedroom) <$500k, even <$400k. And that's not including Uptown (Harlem, East Harlem).

And there are great deals in Brooklyn and Queens.

Really? Can you link me to these? I haven't seen anything decent below 800k.

There's a reason why housing is cheap in Harlem or Bed-Stuy, because they're dumps. Queens is a very long commute if you work in Midtown or Downtown. I don't want to commute more than 20 minutes to work one way, especially since I work long hours.

If you want a 1bdr that will be a good investment, you're looking at upwards of 800k, and that's in Brooklyn. If you're looking in Manhattan, I'd guess that 1 million is the minimum for a decent 1bdr.

Originally Posted by Amnipotem

Really? Can you link me to these? I haven't seen anything decent below 800k.

There's a reason why housing is cheap in Harlem or Bed-Stuy, because they're dumps. Queens is a very long commute if you work in Midtown or Downtown. I don't want to commute more than 20 minutes to work one way, especially since I work long hours.

If you want a 1bdr that will be a good investment, you're looking at upwards of 800k, and that's in Brooklyn. If you're looking in Manhattan, I'd guess that 1 million is the minimum for a decent 1bdr.

Use Street Easy. It has some great filters, even better if you pay for it.

For example, in the UES:
http://streeteasy.com/nyc/sales/ues-manhattan/statuspen%7Cprice:-500000