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My wife said purchasing power can make a huge difference in life and she gave me recent example that are close to us.... That was the example she gave me... Her sister is a pharmacist and when the housing market was at its bottom, her sister bought 2 condos... We wanted to do the same thing, but we did not have a 150k income, so we could not be qualified. Her sister got qualified easily because she is making 140-150k/year... She rented the condo and 4 years later she sold both for 300k+ and walked away with a profit of about 200k in 4 years... She could do that because she was making a lot of money. But we couldn't even if our credit were good... Non only that, she makes a lot of money in purchasing HOME DEPOT stock... Having a lot of disposable income can be a huge thing...
Key words. Not all med students/residents are actively playing the stock market.
I thought you and w19 were talking about opportunities that come along when someone has a high income...
No, that's the topic he was discussing, apparently, only with himself.
Yes, they are usually of the Asian heritage variety. 😛. That being said it's nice to have all of your wants and needs paid and taken care of during professional school - which I guess u pay back with the rest of your life.
I gave you example of a private PT school with a tuition over 40k/year... Some med students don't borrow any money as well to pay their tuition... What was your point when you said 'most people don't have to cover all of that with loans.'
Have you not met any government worker or anyone who works for a regulatory body? It's what they do and what they want to do. Clock in, clock out.
I don't think it's a bad thing necessarily. The 0th generation that immigrates here is very frugal and hardworking, it just so happens that the first generation receives the benefit of that directly from their parents, so naturally there will be a feeling to want to give back to one's parents for doing so once one is able. Families are free to do that and I really do think many families would really do that if they could do it financially. The problem is tuition has so ridiculously skyrocketed vs. people's actual take home incomes (and I'm not just talking about middle class occupations - but even in higher professions) - that's pretty much financially impractical if not impossible for most. All this for the exact same, if not lesser value depending on the specific specialty in question and every decreasing reimbursements by insurers -- which just means you just cram in more patients in the same period of time.
Maybe he includes medicare/SS withholding on his calculation as well... Regardless, I will not spend 120k on degree that can get me a 70k/year job... I also think he was very generous about housing cost --$600/month! What part of the country that one can get a $600 apartment?
