How much of your career decisions are based on finance? If you won the Lotto, would your career goals change?
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Financial influence
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not at this point, but my earlier career goals/choices were based on finance.
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Not much short of being able to pay off my student loans when I'm done with everything. The things I've been through in my life taught me pretty early on that short of being able to eat and have a roof over my head and what not, money isn't a major factor in my happiness levels (although not being in debt is 
) .
If I did win the lottery, I think the main thing that would change would be my school choices and living situation while in school. I'd probably do a bit of traveling before hand. That's one thing I'd really like to do more of that I haven't been able to do yet. I see myself doing a quite a bit of international service work so it would help with that too.
) .If I did win the lottery, I think the main thing that would change would be my school choices and living situation while in school. I'd probably do a bit of traveling before hand. That's one thing I'd really like to do more of that I haven't been able to do yet. I see myself doing a quite a bit of international service work so it would help with that too.
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i'd take a shot at biotech and build my own facility for cancer/vaccine/stem cell research
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Yeah, I'd thought about funding a research organization to develop faster more accurate diagnostic tests for things like TB and malaria if I ever won the lottery. The time it takes and sensitivity and accuracy of some of our diagnostic methods is terrible.
Winning the lottery would just mean I would be able to stop working while doing my pre-reqs and would be able to look into research and/or overseas opportunities. Other than that, nothing would change about my desire to be a doctor.
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I'm not going to deny that being in a career that's stable and allows me to earn well is not one of many factors into my decision to going into medicine. On the other hand, I have no illusions of becoming a millionaire through it and realize that I could through other means if I worked toward that goal alone.
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You are all liars. If I won the lottery ($20mil+) I would walk away. Not because I don't love it, but for the same reason my job would be hard to stay at once I have a med school acceptance. If you llive wiithin a comfortable means, you never have to work a day in your life. Spend tiime with kids, friiends, family, etc.
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I'm with Nutty. Not working is for the kind of people who like not working I have had years to do whatever I wanted while spending time w/kids and family and not working = these were the least fulfilling years of my life. But that's just me. I need a serious goal, something to pursue in order to feel complete.
I have had years to do whatever I wanted while spending time w/kids and family and not working = these were the least fulfilling years of my life. But that's just me. I need a serious goal, something to pursue in order to feel complete.
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hey ObLaDi dont ruin my shot at millions. FrkyBgStok, you dont have to give me the $20mil+ all at once, just a few million at first will do.
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I am not talking a few million. I am talking set for life money. I would work as well but I am not sure what I would be doing.
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hehe in all seriousness I would still pursue the path because I am frankly enjoying the journey. But I probably would not be working 100+ hour weeks at the end of it, that's for sure.
Alternatively, you could ask would you still do it for no or little money, or would you do it for no or little money if you were given $20mil after 5 years past completion of residency. I think some would, some wouldn't.
But basically, the question is a thinly veiled version of "are you in medicine for the money?" For most, I think it is a significant portion of everyone's choice but not the overriding decision maker. Certainly, money set for life is a game changer.
At some point the money is just another tool to improve your life, but what you want to do with your life is still in your hands. And it's easier to speak hypothetically than if you were actually in the situation. Despite saying I'd still do it but with less hours, maybe that changes after a year of experiencing bad hospital politics or feeling helpless when patients die.
edit: hope my attempt at humor doesnt come across offensively
Alternatively, you could ask would you still do it for no or little money, or would you do it for no or little money if you were given $20mil after 5 years past completion of residency. I think some would, some wouldn't.
But basically, the question is a thinly veiled version of "are you in medicine for the money?" For most, I think it is a significant portion of everyone's choice but not the overriding decision maker. Certainly, money set for life is a game changer.
At some point the money is just another tool to improve your life, but what you want to do with your life is still in your hands. And it's easier to speak hypothetically than if you were actually in the situation. Despite saying I'd still do it but with less hours, maybe that changes after a year of experiencing bad hospital politics or feeling helpless when patients die.
edit: hope my attempt at humor doesnt come across offensively
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I am one of the nontrads that had an enormously successful first career. I can tell by reading this forum that I'm not the only one. While I am glad I had the opportunity to retire during my late 20s and all of my 30s, I'm ready to be productive to society again, on my own terms of course. The financial ability to do anything (or even nothing) gets old after a while, and there are only so many goals I'm willing to invent and complete myself.
Choosing to pursue medicine without financial considerations does have its advantages. I can do pre-reqs without having a job. Tuition costs are irrelevant. I am immune to student loan shenanigans and low resident salaries. I can choose the specialty I want (rural family medicine) and not get stuck in a high paying specialty just to repay the bills of my youth.
I think the biggest disadvantage is that I will always have an ejection lever that most students don't. Without the threat of 6 figure loans over my head, I could literally tell my superiors to f*k off at any time in this journey, and leave the ride with no personal repercussions. That's a risk medical schools and residencies will have to take with me. I can only hope that my EC's demonstrate a long history of finishing difficult projects.
So, to answer the OP's question, if I "won the lotto" (again) no, my career goals would not change. In fact, it's why I'm here in the first place.
Choosing to pursue medicine without financial considerations does have its advantages. I can do pre-reqs without having a job. Tuition costs are irrelevant. I am immune to student loan shenanigans and low resident salaries. I can choose the specialty I want (rural family medicine) and not get stuck in a high paying specialty just to repay the bills of my youth.
I think the biggest disadvantage is that I will always have an ejection lever that most students don't. Without the threat of 6 figure loans over my head, I could literally tell my superiors to f*k off at any time in this journey, and leave the ride with no personal repercussions. That's a risk medical schools and residencies will have to take with me. I can only hope that my EC's demonstrate a long history of finishing difficult projects.
So, to answer the OP's question, if I "won the lotto" (again) no, my career goals would not change. In fact, it's why I'm here in the first place.
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yeah, I think the initial question presumes that medicine is going to be a step up in income. Truth of the matter is quite a few folks on the nontrad board were pretty comfortable in our prior careers, but are looking for some sort of non financial fulfillment rather than a step up in income. Since money is not the driving force for many of us, the answer is going to be that winning the lottery won't change much.
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I challenge you to give me several million dollars and see what I do
I'll second that. I guarantee I'd still do this.
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I second the vote... I've always wanted to be involved in an interesting long term research project.
I would still go for medicine even if I had money.
I wasn't rich as an engineer, but I made much more money than I make now as a CNA, and I'm a lot happier now. Having money would just make it easier to choose a specialty because I wouldn't have to worry about debt.
I wasn't rich as an engineer, but I made much more money than I make now as a CNA, and I'm a lot happier now. Having money would just make it easier to choose a specialty because I wouldn't have to worry about debt.
A few million (especially all at once) *is* set for life money if you invest it even semi-intelligently. $3 million at 5% interest is $150K/year for the rest of your life without ever touching the principle. You'd be basically making what a PCP does at the lower end.
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If you're dedicated enough... and feel your drive, discipline, and determination are STEADFAST to succeed, I do not see why taking loans now and paying them as you go through school (if you can) couldn't hurt?
Education costs money... I know it's a deterrence for many, but that is a fine separation point between those who are good and those who could be great. Among other qualities, attributes, and characteristics. I don't believe in smart or not smart. There are those who work hard and those who don't. If you can work hard/not slack ... I'm confident the hard work will pay itself off in the long term.
Education costs money... I know it's a deterrence for many, but that is a fine separation point between those who are good and those who could be great. Among other qualities, attributes, and characteristics. I don't believe in smart or not smart. There are those who work hard and those who don't. If you can work hard/not slack ... I'm confident the hard work will pay itself off in the long term.
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Winning the lottery at this point would not change my plans for medical school at all BUT they would allow me to apply more broadly. At this late stage, I do feel a definite preference for my in-state school, mostly for financial reasons (both lower tuition and the fact that moving my husband away from his lucrative career would cost us so much in lost stock options, etc.)
QofQuimica
Seriously, dude, I think you're overreacting....
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I have already described on another thread how I would be a philanthropist if I had more money than I knew what to do with. This is not at all mutually exclusive with continuing to work as a physician. Speaking of which, I've been working as a physician for all of 3.5 weeks right now. It's stressful, the hours are long, and I've already thought about quitting multiple times. But I don't really want to quit. Well, not all the time, anyway.
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I have already described on another thread how I would be a philanthropist if I had more money than I knew what to do with. This is not at all mutually exclusive with continuing to work as a physician. Speaking of which, I've been working as a physician for all of 3.5 weeks right now. It's stressful, the hours are long, and I've already thought about quitting multiple times. But I don't really want to quit. Well, not all the time, anyway.
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I am quite successful in my current career, and am about as high as I can go at the individual contributor level. (I'm not interested in moving into management.) I love what I do. I've also always known that it wasn't going to be sufficient forever; most people who are good at what I do burn out if they try to do it forever.
When I started looking at "what next", I won't lie: money was definitely a consideration. It was not the primary consideration; rather, it was a hygiene factor.
Will I eventually be making more as an attending than I make now? Yeah, probably, given the specialty I want to do. Is it a good deal for me to take four years of no income plus tuition going out and another several years after that of a third of my current income? No, not really. I'm taking a pay cut to follow this dream.
Would I follow the dream if I was going to be making Starbucks wages, though? Probably not, because while I'm well-off, I'm not yet independently wealthy, and I have some expensive hobbies.
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.We're rooting for you Q. Hundreds of rob schneiders strong.
Money is a partial motivator for me. I don't care about making a killing. But being broke sucks. So I aspire to the top 1% or less of the world. Or to what it is known as the upper middle class america. By some approximation.
I think at this point I would complete my degree and a residency anyway. And just run rampant with the career flexibility a winning lottery ticket would provide.
If it happened early enough in my premed years. I might have just studied california history and spanish. And waited in line for being an overpaid institutionally-coddled douche who likes to hear himself talk in your liberal arts classes.
We'd probably live a little more lavishly - a few more weekend getaways and nice dinners out with the kids. And pay off the mortgage to reduce the amount my husband needs to work at the moment. Otherwise it wouldn't change much.
Money is a motivating factor in that medicine needed to be well enough paid to compensate our family for the enormous opportunity cost of 5+years of school and residency. But my previous career had similar earning potential.
I spent 10 years working as much or as little as I felt like, spending lots of time with my husband, friends, kids etc. I have no regrets, and no particular urge to experience that kind of freedom right now. If I did, I would just take a leave of absence, or quit...
Money is a motivating factor in that medicine needed to be well enough paid to compensate our family for the enormous opportunity cost of 5+years of school and residency. But my previous career had similar earning potential.
I spent 10 years working as much or as little as I felt like, spending lots of time with my husband, friends, kids etc. I have no regrets, and no particular urge to experience that kind of freedom right now. If I did, I would just take a leave of absence, or quit...
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As said, some are here because medicine is the dream that money from a prior career enabled. For my part, I deferred going back to school until I was certain it would not impose any hardship on my wife and kids... Other than time and they grumpy enough about that.
I have a friend who was a high energy, but struggling entrepreneur. His hobby was brewing beer; he even sold some to local pubs. When he hit the lottery he built the sweetest brew pub in the area and now sells his tasty wares all over the midwest.
The money is a measure of freedom to do what you love. I think you have to love medicine in the first place to get thru the training and do what we hope to do. Maybe you get to set the terms more to your liking.
I have a friend who was a high energy, but struggling entrepreneur. His hobby was brewing beer; he even sold some to local pubs. When he hit the lottery he built the sweetest brew pub in the area and now sells his tasty wares all over the midwest.
The money is a measure of freedom to do what you love. I think you have to love medicine in the first place to get thru the training and do what we hope to do. Maybe you get to set the terms more to your liking.
QofQuimica
Seriously, dude, I think you're overreacting....
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Um, thanks, guys?
We're rooting for you Q. Hundreds of rob schneiders strong.
Today was the first day that I felt able to ask my attending for an eval. I didn't ask before today because I really didn't think I needed an eval that said, "Needs improvement on walking and chewing gum at the same time." Walking, ok, but what does chewing gum have to do with patient care, anyway???
All kidding aside, I have finally reached a point where I sometimes win when I wrestle with the electronic medical record. I also had a couple of good diagnoses, one of which was a gynecologic complaint that my otherwise all-male team insisted was kidney. Nope, it was gyn. Score one for Q and 10 zillion for everyone else in the hospital.
And to get back to the thread topic, I got my first paycheck, which, pathetic as it was (being for only my first day of residency), was still a small victory in and of itself, considering that I haven't had a real job in half a decade now.
Well, for me, its about following a dream that I kept hidden from everyone since high school grad in 1994. My father is in medicine (pathologist) so I knew early on. The potential money (after paying student debt) is A factor but not THE factor that drives me. I have two small boys that when they are old enough I would like to be able to tell them with conviction that they can and should follow their dreams. Im only 35. Better late than never, right?
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I am thinking about quitting. I would already have quit if I were financially free.
It wouldn't even take 20 million.
If I had 50,000, I would be gone.
The main thing holding me back is that I moved back to the USA for this post bacc program, and burned bridges at last job in europe bc they didnt want me to leave. Also, between a serious illness that cost a lot of money in europe (and for which my dirtbag US insurance company won't reimburse me), and paying the summer post bacc tuition out of pocket, my savings were wiped out.
So, for the time being, instead of moving back home past age 30, I am continuing in a program whose material I do not find in the least bit interesting.
It wouldn't even take 20 million.
If I had 50,000, I would be gone.
The main thing holding me back is that I moved back to the USA for this post bacc program, and burned bridges at last job in europe bc they didnt want me to leave. Also, between a serious illness that cost a lot of money in europe (and for which my dirtbag US insurance company won't reimburse me), and paying the summer post bacc tuition out of pocket, my savings were wiped out.
So, for the time being, instead of moving back home past age 30, I am continuing in a program whose material I do not find in the least bit interesting.
