BMBiology

temporarily banned~!
15+ Year Member
Feb 26, 2003
7,716
2,752
So yeah, my account is no longer suspended. After not posting for a while, I realized how naive and ignorant some of you are:

(1) People who think the saturation will not affect them because they will be in management. Middle management is always a big target because of their high salary and benefits but as the salary gap between middle management and new graduates gets bigger, they become a bigger target. That is just a fact. Walgreens is planning to cut $1 billion from their budget. Lets see where they will be cutting.

(2) People who think the government will forgive their student loans after 20 or 25 years if they get on PAYE/IBR. Ever heard about the "tax bomb"? Google it. Yes, borrow to the max my friends. Med students know better:

http://forums.studentdoctor.net/threads/ibr-is-a-trap.1097946/

(3) People who are working as a pharmacist but because they didn't get an internship, they have no idea what they are doing. You know who you are! = /

(4) There is only one BMB!

Enjoy your Sunday!
 

pharm B

Phar Noir
Lifetime Donor
10+ Year Member
Jul 12, 2008
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578
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(2) People who think the government will forgive their student loans after 20 or 25 years if they get on PAYE/IBR. Ever heard about the "tax bomb"? Google it. Yes, borrow to the max my friends. Med students know better:
h
This is why I'm eyeing PSLF.

https://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness-common-questions.pdf
Q3 Are loan amounts forgiven under PSLF considered taxable by the IRS?
A3 No. According to the Internal Revenue Service (IRS), student loan amounts forgiven under PSLF are
not considered income for tax purposes. For more information, you should check with the IRS or your
tax advisor.

Of course, it might change...
 

fauxden

7+ Year Member
Dec 6, 2010
321
80
Status
Pharmacist
didn't know you were suspended. should have realized. there are only like 5 people that comment on this board. anyway, I've always found your posts enlightening.
 
May 30, 2013
336
85
Status
Pharmacist
i was wondering where you went. i missed your posts! i like that you keep it real. the pre pharms and the p1s, p2s, even some p4s need a reality check.
 

gwarm01

10+ Year Member
Oct 7, 2009
2,465
3,248
Status
Pharmacist
This is why I'm eyeing PSLF.

https://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness-common-questions.pdf
Q3 Are loan amounts forgiven under PSLF considered taxable by the IRS?
A3 No. According to the Internal Revenue Service (IRS), student loan amounts forgiven under PSLF are
not considered income for tax purposes. For more information, you should check with the IRS or your
tax advisor.

Of course, it might change...
I'm on this plan. I'm estimating a total forgiveness of about $2000. Oh well, better than no forgiveness. I should have maxed out my loans when I had the chance.
 

farmadiazepine

7+ Year Member
Jul 10, 2011
1,045
578
Status
Pharmacist
So yeah, my account is no longer suspended. After not posting for a while, I realized how naive and ignorant some of you are:

(1) People who think the saturation will not affect them because they will be in management. Middle management is always a big target because of their high salary and benefits but as the salary gap between middle management and new graduates gets bigger, they become a bigger target. That is just a fact. Walgreens is planning to cut $1 billion from their budget. Lets see where they will be cutting.

(2) People who think the government will forgive their student loans after 20 or 25 years if they get on PAYE/IBR. Ever heard about the "tax bomb"? Google it. Yes, borrow to the max my friends. Med students know better:

http://forums.studentdoctor.net/threads/ibr-is-a-trap.1097946/

(3) People who are working as a pharmacist but because they didn't get an internship, they have no idea what they are doing. You know who you are! = /

(4) There is only one BMB!

Enjoy your Sunday!
STFU
 

confettiflyer

Did you just say something?
10+ Year Member
Dec 19, 2004
9,313
2,604
Best Coast
Status
Pharmacist
(2) People who think the government will forgive their student loans after 20 or 25 years if they get on PAYE/IBR. Ever heard about the "tax bomb"? Google it. Yes, borrow to the max my friends. Med students know better:

http://forums.studentdoctor.net/threads/ibr-is-a-trap.1097946/
This thread is pretty awesome, someone posted a spreadsheet that I had done on my own (they did a better job) showing the hard numbers in favor of IBR/PAYE.
 
OP
B

BMBiology

temporarily banned~!
15+ Year Member
Feb 26, 2003
7,716
2,752
This thread is pretty awesome, someone posted a spreadsheet that I had done on my own (they did a better job) showing the hard numbers in favor of IBR/PAYE.
Not exactly. He's making a lot of assumptions:

(1) His number is based on him being single for the next 20 years. What if he married someone who also makes a good income?
(2) What if capital gain taxes go up in the future?
(3) What if the stock market crashes at year 18 and it takes 4 years to recover?
(4) What if the government changes PAYE by year 9?

Even if his assumptions become reality, how much is he going to save by year 20? How much is that after it has been adjusted for inflation?

I would rather pick up an extra shift here and there and pay it off as soon as possible so I can focus on my career and personal life. I don't want this kind of debt around my neck for the next 20 years. It is the smart thing to do, financially.
 
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MatCauthon

10+ Year Member
Sep 15, 2008
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Not exactly. He's making a lot of assumptions:

(1) His number is based on him being single for the next 20 years. What if he married someone who also makes a good income?
(2) What if capital gain taxes go up in the future?
(3) What if the stock market crashes at year 18 and it takes 4 years to recover?
(4) What if the government changes PAYE by year 9?

Even if his assumptions become reality, how much is he going to save by year 20? How much is that after it has been adjusted for inflation?

I would rather pick up an extra shift here and there and pay it off as soon as possible so I can focus on my career and personal life. I don't want this kind of debt around my neck for the next 20 years. It is the smart thing to do, financially.
I have to agree with BMBiology here. Way too many assumptions for my comfort. Minimize debt and pay it off quickly.
 
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Unchained

7+ Year Member
Jul 29, 2011
674
177
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Pharmacist
BMBiology you need to set up a blog somewhere where we can follow your posts if they suspend you again. Odds are that it will happen.
 

confettiflyer

Did you just say something?
10+ Year Member
Dec 19, 2004
9,313
2,604
Best Coast
Status
Pharmacist
(1) His number is based on him being single for the next 20 years. What if he married someone who also makes a good income?
What if that spouse also has gargantuan student loans?

(2) What if capital gain taxes go up in the future?
What if they go down?

(3) What if the stock market crashes at year 18 and it takes 4 years to recover?
What if the stock market surges 30% in year 19?[/quote]

(4) What if the government changes PAYE by year 9?
What if it doesn't?

What if he gets hit by a bus tomorrow?
What if he lives to a 100?
What if California falls into the ocean in 5 years?
What if the stock market goes up 15%, then down 7%, then steady for 5 years, then 25% up one year, then down another 18% a year after that?
What if Honda came out with a diesel powered car?
 
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BMBiology

temporarily banned~!
15+ Year Member
Feb 26, 2003
7,716
2,752
^^ if he married someone who also has a lot of debt then he loses either way lol

Look at people rushing to buy U.S. Treasuries because of their perceived stability. What is their return rate? < 2%?

And you are willing to give up a guaranteed return rate of 6.8% by dragging your student loan payment for 20 years? That is just foolish.
 
OP
B

BMBiology

temporarily banned~!
15+ Year Member
Feb 26, 2003
7,716
2,752
Why did you get suspended?
Some mods don't like my posts for whatever reason so they selectively choose to enforce certain SDN rules.

If you like to post and you are opinionated, why even continue to be a mod? You are already a pharmacist. Let some pharmacy students do it.
 

confettiflyer

Did you just say something?
10+ Year Member
Dec 19, 2004
9,313
2,604
Best Coast
Status
Pharmacist
^^ if he married someone who also has a lot of debt then he loses either way lol

Look at people rushing to buy U.S. Treasuries because of their perceived stability. What is their return rate? < 2%?

And you are willing to give up a guaranteed return rate of 6.8% by dragging your student loan payment for 20 years? That is just foolish.
Ignoring the other financial alternatives is equally foolish.
 

D1CE K

Membership Revoked
Removed
Account on Hold
Sep 7, 2013
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Pharmacy Student
Bet he's donating substantial amounts to SDN for all this leeway.


Sent from my iPhone using Tapatalk
 

Transformer

10+ Year Member
Feb 17, 2007
878
58
Status
Pharmacist
1) Almost everyone is affected by the saturation, some more than others

2) I've given up on the idea of relying on PSLF and have been paying the interest throughout pharmacy school and residency.

3) Pre-pharm, and pharmacy students should all try to obtain a paid pharmacy job to get a good idea of what they're getting themselves into.

4) what does BMB stand for?




So yeah, my account is no longer suspended. After not posting for a while, I realized how naive and ignorant some of you are:

(1) People who think the saturation will not affect them because they will be in management. Middle management is always a big target because of their high salary and benefits but as the salary gap between middle management and new graduates gets bigger, they become a bigger target. That is just a fact. Walgreens is planning to cut $1 billion from their budget. Lets see where they will be cutting.

(2) People who think the government will forgive their student loans after 20 or 25 years if they get on PAYE/IBR. Ever heard about the "tax bomb"? Google it. Yes, borrow to the max my friends. Med students know better:

http://forums.studentdoctor.net/threads/ibr-is-a-trap.1097946/

(3) People who are working as a pharmacist but because they didn't get an internship, they have no idea what they are doing. You know who you are! = /

(4) There is only one BMB!

Enjoy your Sunday!
 

BidingMyTime

Lost Shaker Of Salt
10+ Year Member
Oct 2, 2006
3,675
2,756
Illinois
Status
Pharmacist
Glad you are back! Now if only SMF or whatever her letters were could come back. It's the crazy posts that keep this place entertaining!
 
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Jibby321

Ready or Not......
5+ Year Member
Jan 31, 2013
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So I go back to classes and don't troll on SDN for a little while and I miss BMB getting a temp ban?

Why did you get a temp ban?
 

pharm B

Phar Noir
Lifetime Donor
10+ Year Member
Jul 12, 2008
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578
Out to Pasture
Status
Pharmacist
Me too...haha, she deactivated her FB account, so I have no idea what she's up to at this point.
Oh did she? I thought maybe she'd deleted me as a friend. Her posts there always seemed about as plastic/skin-deep as anything she posted here.