How much do Optometrists Make vs cost of tuition

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GypsyHummus

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I have heard anywhere from 60K all the way to 170K. I know it greatly depends on location, but generally speaking, do optometrists frequently crack the 100K ceiling/is the norm?

I am looking at the tuition costs for ODs and it seems very high vs the projected income. If I make 100K a year and take off 40% for federal and state taxes, I am left with 60K a year.

Tuition is typically 35K+ living expenses. So lets say living is 20K, thats 55K a year which is 220K after the students gets out. How do you pay of 220K of debt making 60K a year? Am I missing something here? And thats not including undergrad debt.

So I'm pulling in 60K a year. I can live of of 20 as a single 26-27 year old and throw 40K at the debt each year. I could probably pay off the debt in 6 or 7 years after it has ballooned with interest. But what if I want to start a family before Im 30?

Does this math add up to anyone else, or am I missing something? Is Optometry a financially sound investment?

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I have heard anywhere from 60K all the way to 170K. I know it greatly depends on location, but generally speaking, do optometrists frequently crack the 100K ceiling/is the norm?

I am looking at the tuition costs for ODs and it seems very high vs the projected income. If I make 100K a year and take off 40% for federal and state taxes, I am left with 60K a year.

Tuition is typically 35K+ living expenses. So lets say living is 20K, thats 55K a year which is 220K after the students gets out. How do you pay of 220K of debt making 60K a year? Am I missing something here? And thats not including undergrad debt.

So I'm pulling in 60K a year. I can live of of 20 as a single 26-27 year old and throw 40K at the debt each year. I could probably pay off the debt in 6 or 7 years after it has ballooned with interest. But what if I want to start a family before Im 30?

Does this math add up to anyone else, or am I missing something? Is Optometry a financially sound investment?

this post again..

"I have heard anywhere from 60K all the way to 170K. I know it greatly depends on location, but generally speaking, do optometrists frequently crack the 100K ceiling/is the norm?"
I've read on here that 60K is not even the low. You can dip down as low as 20K a year as well if you're lucky lol :hardy::xf: talk about a limbo record..

"I am looking at the tuition costs for ODs and it seems very high vs the projected income. If I make 100K a year and take off 40% for federal and state taxes, I am left with 60K a year."
40% on taxes?? what state is this?? what part of the US do i have to avoid with that rate?? :wow:

"Tuition is typically 35K+ living expenses. So lets say living is 20K, thats 55K a year which is 220K after the students gets out. How do you pay of 220K of debt making 60K a year? Am I missing something here? And thats not including undergrad debt."
Add roughly another 25-30K to the final figure.:thumbup:

"So I'm pulling in 60K a year. I can live of of 20 as a single 26-27 year old and throw 40K at the debt each year. I could probably pay off the debt in 6 or 7 years after it has ballooned with interest. But what if I want to start a family before Im 30?"
you want a family? start one. the debt isn't stopping you -- it'll just take longer to pay and if you're a natural worrier type of person, it'll just always be on your mind until it makes every single hair on your frontal bone fall off.+pity+

"Does this math add up to anyone else, or am I missing something? Is Optometry a financially sound investment?"
No, I think going by everything you said, your net debt at the end of it will be upwards of 240K.:heckyeah:

On a serious note: Optometry isn't the most lucrative field to get into compared to the other health and medical professions that do make a "good" amount of money. Having said that, I think that probably most optometrists don't get into it for the money; it's definitely a reason, don't get me wrong, but I think that most of them become ODs because of the other aspects of the profession (i.e., being able to help people at the core of it).
 
You need to look at the job market where you plan to work. In upstate NY, jobs are usually STARTING at 90-110k. Making anywhere in that range is a pretty decent chunk of money, and you will live pretty comfortably regardless. No one wants to come here and deal with harsh winters and 8% taxes, so there are more jobs and they pay pretty decent. Definitely do your research on the area. Sure, it isn't as much as an MD, but I don't want to be around sick people all day and do a residency, not for me! Optometry is totally a low stress job with decent hours and decent pay that will allow you to have a family life and some nice luxuries in the long run!

As far as debt, go to a place that is going to cost you less. If a school is in your home state that is going to get you in state tuition, I'd go for it. Going to places with tuition over $30k a year plus living costs is pretty brutal.
 
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Lol. Despite the sarcasm, I appreciate the post

Are you serious about the 20K?

Well yeah, money isn't the main reason to go into any profession (aside from dermatology), but it would be nice to know if the cost is worth the investment. If I have to pay off 240K, I would at least like to know that I won't have to live off of ramen every night.

Getting close to 40% in taxes isn't unheard of. State tax 8%, federal 32%, plus not to mention tax on everything else. If I hav40K, I would at least like to know that I won't have to live off of ramen every night.

this post again..

"I have heard anywhere from 60K all the way to 170K. I know it greatly depends on location, but generally speaking, do optometrists frequently crack the 100K ceiling/is the norm?"
I've read on here that 60K is not even the low. You can dip down as low as 20K a year as well if you're lucky lol :hardy::xf: talk about a limbo record..

"I am looking at the tuition costs for ODs and it seems very high vs the projected income. If I make 100K a year and take off 40% for federal and state taxes, I am left with 60K a year."
40% on taxes?? what state is this?? what part of the US do i have to avoid with that rate?? :wow:

"Tuition is typically 35K+ living expenses. So lets say living is 20K, thats 55K a year which is 220K after the students gets out. How do you pay of 220K of debt making 60K a year? Am I missing something here? And thats not including undergrad debt."
Add roughly another 25-30K to the final figure.:thumbup:

"So I'm pulling in 60K a year. I can live of of 20 as a single 26-27 year old and throw 40K at the debt each year. I could probably pay off the debt in 6 or 7 years after it has ballooned with interest. But what if I want to start a family before Im 30?"
you want a family? start one. the debt isn't stopping you -- it'll just take longer to pay and if you're a natural worrier type of person, it'll just always be on your mind until it makes every single hair on your frontal bone fall off.+pity+

"Does this math add up to anyone else, or am I missing something? Is Optometry a financially sound investment?"
No, I think going by everything you said, your net debt at the end of it will be upwards of 240K.:heckyeah:

On a serious note: Optometry isn't the most lucrative field to get into compared to the other health and medical professions that do make a "good" amount of money. Having said that, I think that probably most optometrists don't get into it for the money; it's definitely a reason, don't get me wrong, but I think that most of them become ODs because of the other aspects of the profession (i.e., being able to help people at the core of it).
 
Lol, thats why I am looking into it. Decent pay, low stress, and you get to help people and improve daily life! :)

You need to look at the job market where you plan to work. In upstate NY, jobs are usually STARTING at 90-110k. Making anywhere in that range is a pretty decent chunk of money, and you will live pretty comfortably regardless. No one wants to come here and deal with harsh winters and 8% taxes, so there are more jobs and they pay pretty decent. Definitely do your research on the area. Sure, it isn't as much as an MD, but I don't want to be around sick people all day and do a residency, not for me! Optometry is totally a low stress job with decent hours and decent pay that will allow you to have a family life and some nice luxuries in the long run!

As far as debt, go to a place that is going to cost you less. If a school is in your home state that is going to get you in state tuition, I'd go for it. Going to places with tuition over $30k a year plus living costs is pretty brutal.
 
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Lol, thats why I am looking into it. Decent pay, low stress, and you get to help people and improve daily life! :)
Yup, exactly. I've been going to the eye doc since I was 9, I am comfortable around that office and the doctors always seem happy. Having the shoe on the other foot is definitely cool. A total necessity to society, everyone needs their eyes! No sick people, no call ins, and nothing comes home after work.

My eye doctor is 34 and he makes $122k right now, has a 4 bedroom house, and drives an Acura. Granted, loan interests were lower back then, but still. That may not be an "extraordinary" lifestyle, but a very comfortable living with some luxury too. If you want to be driving nothing less than a Bentley or a Ferrari, then optometry isn't for you.

And about debt. There are ways to help yourself. Going to a private school you can buy a small house or apartment, have a roommate pay you rent, then sell it when you are done. That's saving you 500-100 dollars right off the bat per month for living. Requires some work, and yes it might be a hassle. But combined with a state school, you are talking a HUGE difference in your overall numbers.
 
Bad idea, just split rent, don't buy to sell, you'll lose plenty of money.
 
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Um yeah, I know people who bought places and still have them for sale. Do some SERIOUS research first. If you are landlord you are responsible for taxes, maintenance, fixing things if they bring, clearing driveway when it snows etc. I just matched for residency and still leaning towards renting. Trust me, it's often not a good idea
 
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Unless you are in an area that has extreme desirability I would not assume you can sell it for what you paid. Also realize splitting the rent may not even cover your mortgage, taxes and maintenance. My dad is a lawyer, does plenty of real estate closings, he's the one who showed me it often does not make financial sense to buy
 
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I'm not by any means saying this is the right thing to do at any given school, I said it was an idea, and it's possible because I know a couple people who did it, and everything worked fine for them is all I'm saying. I think you guys took me a bit too literal...
 
I have heard anywhere from 60K all the way to 170K. I know it greatly depends on location, but generally speaking, do optometrists frequently crack the 100K ceiling/is the norm?

I am looking at the tuition costs for ODs and it seems very high vs the projected income. If I make 100K a year and take off 40% for federal and state taxes, I am left with 60K a year.

Tuition is typically 35K+ living expenses. So lets say living is 20K, thats 55K a year which is 220K after the students gets out. How do you pay of 220K of debt making 60K a year? Am I missing something here? And thats not including undergrad debt.

So I'm pulling in 60K a year. I can live of of 20 as a single 26-27 year old and throw 40K at the debt each year. I could probably pay off the debt in 6 or 7 years after it has ballooned with interest. But what if I want to start a family before Im 30?

Does this math add up to anyone else, or am I missing something? Is Optometry a financially sound investment?

I suggest you post this in the regular Optometry forum or OD wire. Here we have lots of pre-optometry students postulating about earnings and nit-picking at jobs that they've seen on the internet. You can use this: http://www1.salary.com/optometrist-Salary.html
but know that they are heavily inflated numbers by very successful private practice (or multi-practice) ODs. (i.e. good luck finding a $124K job in Los Angeles, CA)
 
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I'm not by any means saying this is the right thing to do at any given school, I said it was an idea, and it's possible because I know a couple people who did it, and everything worked fine for them is all I'm saying. I think you guys took me a bit too literal...
Nice try Stevie... AKA John L. Scott.
 
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Please keep in mind-- No one and I mean no one except the OD and their accountant knows how much an optometrist truly makes. Most people 'stretch the truth' a bit when talking about their income. So unless you have physically looked at their income taxes or you are, in fact, their accountant, ignore what they are telling you they make.

Bottom line. Optometrists LIE constantly. If I had a nickel every time some OD told me that they have a million dollar practice and I go and look to see they work in a little run down house with a faded sign and one exam lane with nothing but a receptionist on staff.............
 
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I have calculated my costs and I have determined that I will only have $160,000 of debt (I've saved money my whole life)...and if you work full time and work hard, you will definitely hit the $100,000 mark. I work for two doctors that haven't been out of school for more than six years and they work part time, manage to raise young kids, and wear designer clothing. Their husbands don't work either. You just have to play the cards right.
 
I have calculated my costs and I have determined that I will only have $160,000 of debt (I've saved money my whole life)...and if you work full time and work hard, you will definitely hit the $100,000 mark. I work for two doctors that haven't been out of school for more than six years and they work part time, manage to raise young kids, and wear designer clothing. Their husbands don't work either. You just have to play the cards right.

Only $160,000 ? You think that's a small amount? How do you know those Doctors still don't have boatloads of debt they are carrying? A lot of people that live in debt love to spend money they don't have and end up being slaves to either the federal government or private companies that used to give out student loans.

I think anyone who is going to be more than $100,000 in debt after Optometry school and plans to work part-time is making a bad life decision.

Especially with the Democrats in charge they will surely make taxes rise higher and poof, there goes 35% of your $100,000 salary leaving you with $65,000 to live on and pay off your student debt.
 
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Only $160,000 ? You think that's a small amount? How do you know those Doctors still don't have boatloads of debt they are carrying? A lot of people that live in debt love to spend money they don't have and end up being slaves to either the federal government or private companies that used to give out student loans.

I think anyone who is going to be more than $100,000 in debt after Optometry school and plans to work part-time is making a bad life decision.

Especially with the Democrats in charge they will surely make taxes rise higher and poof, there goes 35% of your $100,000 salary leaving you with $65,000 to live on and pay off your student debt.

I dont understand, how can one NOT be in at least 100K in debt?

I went to an open house at my state supported school and that was still 30K a year. Tack on an extra 20K for living expenses, books, etc, and you have 50K a year=200K in debt total for the opportunity to make maybe 100k a year!

How on earth are you supposed to pay back 200K when you only gross (BEFORE TAXES!!!) 110K? So you take home 70-80k, you also have to live, what happens if you want a family? How are you supposed to pay this back?!

And thats not even including undergrad debt!!!

At least with medical school, even the lowest payed specialties like PCPs make 150K, which gives them 110K after taxes.
 
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Keep voting Democrat and they will make sure everyone has unlimited federal loans to go to every college they desire! The colleges will keep increasing tuition because they have an unlimited supply of students with unlimited funds just like Obama wants it!

The education bubble will burst sooner or later so if I were a prospective student I'd wait it out and not do it unless
A) I could live at home.
B) Received a nice scholarship/had rich parents that payed/military
C) Optometry is my one and only passion and there's nothing else I can ever see myself doing for the rest of my life
 
I am sure the majority of students are highly in debt. Yet, there is a percentage of students who do not need 200,000 dollars of student loans or even 100,000. Some people have parents who support them, some have worked for several years and saved a part of the tuition, and some have spouses who currently work. Also, some schools are in areas with a high cost of living and other schools aren't. Some schools can have tuition for 19k a year while others are 36k a year.
 
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My cousins wife is an Optometrist and in addition to her regular salary which is tge higher end of what people are saying here, she also makes money off the sale of tge eyeglasses and contact lenses and that is a substantial amount of money. From looking at their home and how they live I believe she makes over 250,000 a year. She does very well. She sets her own hours and now that she has her own office she only works 3 days a week and still makes that kind of money. As a woman who wants to have children and time for her family this is a great profession. One of the few in the medical field that you can say is condusive to being able to have both a good paying career as well as a good amount of time to spend with family and your children ...
 
My cousins wife is an Optometrist and in addition to her regular salary which is tge higher end of what people are saying here, she also makes money off the sale of tge eyeglasses and contact lenses and that is a substantial amount of money. From looking at their home and how they live I believe she makes over 250,000 a year. She does very well. She sets her own hours and now that she has her own office she only works 3 days a week and still makes that kind of money. As a woman who wants to have children and time for her family this is a great profession. One of the few in the medical field that you can say is condusive to being able to have both a good paying career as well as a good amount of time to spend with family and your children ...

You made an account to post this anecdotal and completely assumptive garbage?
 
You made an account to post this anecdotal and completely assumptive garbage?

Yeah, 250k/year seems rather suspicious from anyone who only works 3 days/week and isn't a dentist.

I still don't understand how dentists can pull in all that cash and have days off in the week.
 
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