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Do some doctors make most of their money in investments and their own personal income? Do they ever strike special life-changing financieal opportunities such as at cocktail parties, etc....?
Doctors and Wealth
- Thread starter VandyDerm
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GIven the way you just asked this, how can the answer be anything but Yes
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Doctors get approached constantly by people wanting them to invest in everything under the sun. They are known by stockbroker-types as pretty unsophisticated when it comes to investing and money management. Unfortunately, many doctors are terrible investors and lose tons of money by investing in stuff they know nothing about - so be careful.
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While I certainly think there's some validity to expanding one's knowledge of the investment side of things, what's with you and cocktail parties?
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totally off topic but your sn is rather interesting, given a previous post where you claim to be a sophomore in college (and I assume you are one of those annoying undergrads who always take up all the study carrels reserved for medical center personnel in the biomedical library of my particular medical school from the university in your sn). It really won't help your case on sdn much when you talk about money alot either, but hey, the message board is anonymous (of course its only so anonymous, especially when you flaunt your gpa). but anyway back to your question....
In no way do I think its bad to be concerned with financial issues and to want a generous level of reimbursement in your future career, but you gotta do what you love. There are many areas of medicine that will give you a good lifestyle and enough money to play with some investments (although you will never be a Warren Buffett). If you invest wisely and spend alot of time on it once you have enough money to have an appreciable amount of principle where gains will be significant to your portfolio. A major concern for someone like me at this point is minimizing my debt load so that I can begin investing earlier (compounding your earnings over time is essential to building wealth, especially if you don't have time to find ridiculously good investments since you probably won't as a physician, even a derm). I didn't make the right choice in medical school in that respect (had a full-tuition scholarship elsewhere), but money is definitely not the only consideration when making life choices.
In no way do I think its bad to be concerned with financial issues and to want a generous level of reimbursement in your future career, but you gotta do what you love. There are many areas of medicine that will give you a good lifestyle and enough money to play with some investments (although you will never be a Warren Buffett). If you invest wisely and spend alot of time on it once you have enough money to have an appreciable amount of principle where gains will be significant to your portfolio. A major concern for someone like me at this point is minimizing my debt load so that I can begin investing earlier (compounding your earnings over time is essential to building wealth, especially if you don't have time to find ridiculously good investments since you probably won't as a physician, even a derm). I didn't make the right choice in medical school in that respect (had a full-tuition scholarship elsewhere), but money is definitely not the only consideration when making life choices.
