Jay12

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Hey guys, I saw a similar thread in the pharmacy forum and thought it would be fun to ask the same question here......

What was (or will be) your first big purchase once you've graduated from optometry school (i.e. nice car, down payment on a house, plasma television, etc....)

This is suppose to be a fun thread...so for those whom will just bitch about student debt, not making enough money, yadda yadda yadda....relax....this is just a fun post.....
 

EyeDocPlus

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My wife and I bought a house. It was great to finally get away from apartments and town-homes.
 
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Habitual Rx

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Is it irrational to say: "... buy into or perhaps purchase a practice"?

I mean, after already being in debt after school, the first big purchase I'm going to make better benefit me greatly in the future.
 

shirazyterp

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Well I made my big purchase HOUSE when I was 20! I think in 4 years when I am done I will want to kick out all the people I rent my house to and live in it myself without any roomates! Well purchasing a practice would probably be the # 1 goal then!
 

Jay12

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For me, I would also love to buy a house.......get a private practice......buy a nice BMW (preferably M3)......but, one of the most immediate purchases for me would have to be season tickets for the Calgary Flames NHL hockey team (I love hockey!)
 

mthwong

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My first big purchase would be season tickets to Warriors' games, or a house...i guess it depends what it'll be like after I finish school.
 

Habitual Rx

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...but, one of the most immediate purchases for me would have to be season tickets for the Calgary Flames NHL hockey team (I love hockey!)

If you love hockey so much, why do you insist on cheering for helpless teams?

(As a diehard Canucks fan, I'll go hide in the corner for the coming reply).
 

Jay12

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If you love hockey so much, why do you insist on cheering for helpless teams?

(As a diehard Canucks fan, I'll go hide in the corner for the coming reply).

lol.......just the fact that your a Canucks fan, and hiding in the corner is enough for me :laugh:
 
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nc2tarheels

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I will live in my current house and not change anything besides taking one nice vacation, season tickets to the Tarheels, and maybe a car. I'm gonna try and pay my loans off very early.
 

nc2tarheels

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I plan on doing it by living in my current home. The payment is already low ($900) a month and I've owned it for around 6 years. Probably just use the extra money to pay off the loans. Reason being, i'm not a "debt" type person. I pay all my credit cards off early. :)
 

KHE

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I plan on doing it by living in my current home. The payment is already low ($900) a month and I've owned it for around 6 years. Probably just use the extra money to pay off the loans. Reason being, i'm not a "debt" type person. I pay all my credit cards off early. :)

In general, what you are proposing to do is unwise.

Being "not a debt person" is responsible, but debt should be managed well, not avoided in it's entirety.

In you have a 6 or 7% student loan, and you put $1 towards that, you have essentially recieved a 6 or 7% return on your $1 investment. (It's actually less if you qualify for a student loan deduction)

However, what you need to consider is....are there other investments that will yeild more than 6 or 7% for you? (stocks, bonds, a PRACTICE PURCHASE) The answer is almost universally yes. As such, the clamor to pay off student loans as quickly as possible is generally not a good financial move.
 

still_confused

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However, what you need to consider is....are there other investments that will yeild more than 6 or 7% for you? (stocks, bonds, a PRACTICE PURCHASE) The answer is almost universally yes. As such, the clamor to pay off student loans as quickly as possible is generally not a good financial move.

Stocks historically return 8-10% while bonds 6-7% over approx 30 years and pretax (though now most literature are suggesting 6-7 and 5-6 respectively). While it may be advisable to put money towards a private practice, it is NOT advisable to money in the stock market and expecting a gain. As anyone that has played the market will tell you, it is more or less a gamble. Yes you can make money, but always play with money you can afford to lose. The only exception would be retirement accounts as over a lifetime, the odds are in your favor.

And also never underestimate the psychological effect of being debt free, especially for those that hold it to high regard. Investing is all about being comfortable with your situation, irregardless of how much you can gain or lose.

For those that think I'm pulling things out of my *** go to Barnes and Nobles and "preview" any of the investment books they have.
 

whyteout

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You guys totally stole the idea for this thread from the pharmacy board. Not cool.
 

Jay12

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You guys totally stole the idea for this thread from the pharmacy board. Not cool.

Well....if you read my original posting, I make reference to getting the idea from the pharmacy forum.....So it's "totally" cool......:thumbup:
 

whyteout

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Well....if you read my original posting, I make reference to getting the idea from the pharmacy forum.....So it's "totally" cool......:thumbup:

Haha, whoops. I don't read, I just post :D
 

whyteout

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You mean all the blue pills aren't the same?
scared011.gif
 
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