thanks for your response. I was able to do some stuff on the side to help me pay for school so my current debt is significantly lower than that. I didnt mentioned it because I was afraid this would turn into a dentistry vs. medicine debate but it is medicine.
I guess one of the main things I was looking for in this thread was to get opinions from dental practice owners and if they had the opportunity to change careers (with the perks and headaches that come with owning a practice), if they would take that opportunity?
I'm not even sure if that makes sense, but it's been a tough time deciding what to do lately and it's pretty therapeutic talking about this.
When I was in college, I wanted to be a doctor. I took the MCAT twice and did poorly both times. I didn’t know anything about dentistry but I applied for dental schools anyway. That’s because I didn’t have any other choices. With a BS degree in Bio, which was pretty much useless, I would be no better than a person who didn’t go to college. I didn’t want to be a loser with no job. My parents risked their lives and spent a lot of money to escape the communist regime and brought me to America for a better future. I didn’t want my parents’ efforts and sacrifices to go in vain. They are my heros.
Dentistry is much better I imagined…..being my own boss, setting my own work schedule, great income, being financially independent, good lifestyle. I didn't see nor appreciate any of these advantages when I was a dental student. I used to envy my cousin, who went to the same undergrad school with me and got accepted to med school. He’s a MD anesthesiologist. He’s my age…49yo. He has just paid off his student loans a few months ago and I paid off mine a long ago. He is still, however, paying his home mortgage. Wherever he went, he could not be too far away from the hospital where he used to work at. It’s like living in a prison. His life is much better now. He currently works at a surgical center, where everything is scheduled…..no emergency call, no more working at odd hours and on the weekends. But this center pays him much less. He is fine with the pay cut because he already paid off his student loan. His co-resident couldn’t handle the stress of doing anesthesiology and switched to a different specialty….pain management.
I had worked for someone else for 4 years before I had enough confidence to start my own office. Since I am not a business savvy person and I didn’t want to take a big risk, I started a very small low overhead office for under $120k. In case my business failed, I would just walk away with minimal loss. I don’t have good people skill either. English is not my first language. To attract more patients to my office, I have to charge low fee and offer convenient weekend office hours. To compensate for the low fee, I have to work harder than most of my colleagues, who charge much higher fee. Most of my colleagues don’t work on the weekends. Things have turned out great for me. I didn’t think I could be 100% debt free at 49. I thought it would take me at least 10-15 years longer to reach this goal.
I am doing very well as an orthodontist. I am very happy with my job. So why do I want my kids to pursue medicine, instead of encouraging them to follow my footstep? Because my kids are growing up in a very different environment than when I grew up. I am from a low income immigrant family. To me, 8 yrs of schooling is just a form of investment and a DDS degree is just a piece of paper….I am not entitled to anything. To be successful, I have to work hard. I am afraid my kids will not be willing to do what I am doing right now….like charging low fee, having a low overhead low tech office, working on the weekends etc. Being a physician, they don’t have any choice….they have to work on the days and the hours that the hospitals require them to work because they have to save lives. They may not make as much as a dentist, who owns a practice. But at least being a doctor and working for a hospital, they get paid a decent salary + paid vacations + other benefits.
I am glad that you think about medicine and not pharmacy or optometry. My brother is a gastroenterologist. My brother in law is a family doctor, who owns a very busy practice. My other cousin is a nephrologist. They are all very happy with their jobs. As long as you don’t go into anesthesiology, you should be fine. According to my cousin, anesthesiology is the worst specialty in medicine…the surgeons don’t respect you….you can’t own a practice like other MD doctors….your work hours are very long and bad.
Yup it sucks but here I am. When I have kids of my own, I will definitely provide them with everything necessary so they can find their passions and not go through everything that I am currently going through.
As a parent, I always want my kids to have a better life than what I have. I want them to provide a better lifestyle for their kids than what I provide for them now. I don’t want my kids to lose the comfortable lifestyle (because of picking a wrong career) that they are enjoying right now. I can’t live forever to support them financially. It would break my heart to see them struggle financially.
It's hard to understand now. But I think you will understand when you become a parent.