Incoming D1, am I crazy to drop all my acceptances because of the absurd cost of education?

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sumin5924 said:
Unless something has changed, you cannot do OMS for an NHSC scholarship. The only allowed postgrad training is a GPR/AEGD or peds.
My understanding is military do not typically take students straight from school. 🤷‍♂️
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OMFS programs in the military are solid training programs and decidedly less competitive than civilian programs.

Big Hoss
 
charlestweed said:
This route will take way too long.....10-12 yrs if you also include the 4 yrs of undergrad that the OP has already spent. By the time he gets out, he will be 30-31 yo.
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But the debt load will be way less than dentistry... and the salary will be at least 200k+. Heck a lot of CRNAs can make 300k-400k
 
LFA20 said:
But the debt load will be way less than dentistry... and the salary will be at least 200k+. Heck a lot of CRNAs can make 300k-400k
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But this pathway also requires a lot of hard work (long and odd work hours) and sacrifice. It probably puts just as much (if not more) stress on the body/mind as the pathway to become a dentist. And for a CNRA to make $3-400k, he/she has to continue to work crazy amount of hours after graduation.

My cousin is a MD anesthesiologist. He graduated the same year as me (in 2001) with low student loan debt. He has worked for nearly 25 yrs and yet, he couldn't afford to buy a house in Orange County. His house is nice but it's in the Riverside county. He has complained to me about his job all the time. He makes less now because he works less (no more weekend work). He suffers from job burnout and just lets the younger doctors to take his hours. I remember when my younger brother applied for med schools, my cousin told him not to do it....and that my younger brother should pursue dentistry like me. Now that my brother works as a GI doctor, he also advises young people NOT to go into medicine. My younger brother said his drug rep makes $300k/yr and only has a HS diploma. The problem is not everyone with a HS diploma can be qualified to work as a drug rep. The job requires special skills, hard work, and luck.

A lot of people are suffering from the "grass is greener" syndrome and think other people have better job deal than theirs. Nothing is ideal in this world. The harder you work and the more sacrifice you make earlier in your life, the greater reward you will earn later on. There is no such thing as making money fast with very little effort. The one who says he or she works very little is lying..... people tend to inflate ther salaries on the internet.

If a young 26 yo new grad dentist puts in the same amount of work hours as a person who is pursuing CRNA, he will do very well by the time he reaches age 30-31. Being a 5+yr veteran dentist, he should be able to perform more complex procedures like implants (placements and restorations), molar endos, extractions, which should allow him to make way more and to pay down his debt by at least half. And if he opens his office, the sky's the limit.
 
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juniordentist said:
670k at the end of dental school... This will easily be a million by the time you finish omfs residency. Then, maybe you have to do a 1 year fellowship as OR time is competitive at hospitals, so add on another year of low pay and interest accruing. I am 9 years out of dental school, I have earned a decent salary the whole time, nothing amazing, I've been investing, I was able to buy a house years ago when it was way cheaper, I was able to buy stocks when they were much cheaper. My friend is still on the OMFS path. When he finishes, he will have no home equity, he will have to buy a home when it is massively more expensive, start investing when stocks are much more expensive. On top of that, he will have to pay a huge school debt. At some point, the high salary isn't worth it. Now that I am 9 years out I am earning a good income, I don't think my OMFS friend will catch up to me financially for atleast 10-15 more years. This will be 20 years after graduating dental school - basically close to retirement age. At that point, it will be who can work to an older age - probably easier to do as a dentist than omfs?
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It doesn’t take 9+ years to do OMFS it takes 4-6. Not sure what your friend is doing. An OMFS can easily catch up financially in that amount of time.

Fellowship is also not required for private practice, which is what 90% of OMFS are doing.
 
mangler said:
It doesn’t take 9+ years to do OMFS it takes 4-6. Not sure what your friend is doing. An OMFS can easily catch up financially in that amount of time.

Fellowship is also not required for private practice, which is what 90% of OMFS are doing.
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fellowship is not required for OR time either idk what hes talking about
 
0bliqueridge said:
fellowship is not required for OR time either idk what hes talking about
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My friend did a yr of orthoganthic surgery fellowship. He now works full time for Kaiser, where he did his fellowship at. He probably makes less than the private OS owners, who didn’t do any fellowship training. But it’s his passion. I am an orthodontist. He and I have treated a lot cases together.
 
charlestweed said:
But this pathway also requires a lot of hard work (long and odd work hours) and sacrifice. It probably puts just as much (if not more) stress on the body/mind as the pathway to become a dentist. And for a CNRA to make $3-400k, he/she has to continue to work crazy amount of hours after graduation.

My cousin is a MD anesthesiologist. He graduated the same year as me (in 2001) with low student loan debt. He has worked for nearly 25 yrs and yet, he couldn't afford to buy a house in Orange County. His house is nice but it's in the Riverside county. He has complained to me about his job all the time. He makes less now because he works less (no more weekend work). He suffers from job burnout and just lets the younger doctors to take his hours. I remember when my younger brother applied for med schools, my cousin told him not to do it....and that my younger brother should pursue dentistry like me. Now that my brother works as a GI doctor, he also advises young people NOT to go into medicine. My younger brother said his drug rep makes $300k/yr and only has a HS diploma. The problem is not everyone with a HS diploma can be qualified to work as a drug rep. The job requires special skills, hard work, and luck.

A lot of people are suffering from the "grass is greener" syndrome and think other people have better job deal than theirs. Nothing is ideal in this world. The harder you work and the more sacrifice you make earlier in your life, the greater reward you will earn later on. There is no such thing as making money fast with very little effort. The one who says he or she works very little is lying..... people tend to inflate ther salaries on the internet.

If a young 26 yo new grad dentist puts in the same amount of work hours as a person who is pursuing CRNA, he will do very well by the time he reaches age 30-31. Being a 5+yr veteran dentist, he should be able to perform more complex procedures like implants (placements and restorations), molar endos, extractions, which should allow him to make way more and to pay down his debt by at least half. And if he opens his office, the sky's the limit.
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25 years as an anesthesiologist and can’t afford a million dollar house? Skill issue
 
endough11 said:
Hi everyone,

I have been conflicted for months regarding if dental school is worth it. I enjoy dentistry from what I’ve seen thus far and think I would be reasonably happy doing this for the rest of my life, but I am so discouraged by the loans. I have two deposits down at an Ivy and a public school where I can convert to in-state tuition after the first year. After interest while in school,tuition inflation each year, and origination fees the total cost would be either 670k for the ivy or 520k for the public school. I have aspirations of doing OMFS and I’d like to believe I have the aptitude for it (30 TS on DAT and did well in undergrad). I’d like to clarify that I would be happy to be a GP, if i could pay back my loans.

Am I crazy for thinking paying back the loans is impossible? The interest rate on grad plus loans is 9.08% and the SAVE plan is dead. There is also other political uncertainty that makes me scared to take out a 520k or 670k bet on myself without falling into financial ruin.

If anyone could advise me on how they are planning to pay their loans or feel you’ve made a financial mistake please comment.
Thank you everyone.
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What's your plan B if you drop both your dental school acceptances?
You know, people take out loans this size all the time to buy a house and manage to pay them off.
As a well-earning dentist you will be able to pay off your dental school loans too.
 
wysdoc said:
You know, people take out loans this size all the time to buy a house and manage to pay them off.
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And it takes 20-30 years to pay that off. The real problem is the OP is going to have nearly $700,000 in student loans, then they’re going to take on a home mortgage. Between those two, they’ll have $1,500,000+ in debt. If they start a practice, there is even more debt. Add on all of life’s other expenses, and it’s a big hole to climb out of.

wysdoc said:
As a well-earning dentist you will be able to pay off your dental school loans too.
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As an average-earning dentist, they will struggle to pay it off.

IMG_1808.jpeg


Big Hoss
 
Big Time Hoosier said:
And it takes 20-30 years to pay that off. The real problem is the OP is going to have nearly $700,000 in student loans, then they’re going to take on a home mortgage. Between those two, they’ll have $1,500,000+ in debt. If they start a practice, there is even more debt. Add on all of life’s other expenses, and it’s a big hole to climb out of.


As an average-earning dentist, they will struggle to pay it off.

View attachment 399521

Big Hoss
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I don't think we should be conflating personal debts such as student loans and homes with the debt of a corporation. The legal responsibilities, credit impact, tax treatment, and collateral are different.
 
yappy said:
I don't think we should be conflating personal debts such as student loans and homes with the debt of a corporation. The legal responsibilities, credit impact, tax treatment, and collateral are different.
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But at the end of the day, it’s all got to be paid back.

Big Hoss
 
Big Time Hoosier said:
And it takes 20-30 years to pay that off. The real problem is the OP is going to have nearly $700,000 in student loans, then they’re going to take on a home mortgage. Between those two, they’ll have $1,500,000+ in debt. If they start a practice, there is even more debt. Add on all of life’s other expenses, and it’s a big hole to climb out of.


As an average-earning dentist, they will struggle to pay it off.

View attachment 399521

Big Hoss
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The sad reality is most young grads can no longer afford to buy a house. An old 1100sf house which was built in the 50s, now costs $1M in So Cal. I remember when I graduated in 2001, my and my wife’s combine income was in the mid $300k/yr and we had a combine student loan debt of $450k. The thought of buying $1M house was never in our mind because this price was way beyond what we could afford. We bought our first house for $380k and this same house is probably worth more than $1.5M now. I feel bad for the young generation. Things were much more favorable for us, older docs. Not only dental schools were much cheaper….they were also much easier to get in.
 
I don't think its a good idea to do this. However, I also think that it is likely we will be having the same conversation in 30 years. "we were all terrified of being 2m in debt". 2m debt in 30 years will likely feel like nothing at the end of your career. So it will be ok eventually. But the real question is in 30 years will the CRNAs and anaesthetic assistants be the ones who are in another league financially. I can imagine someone graduating with little debt earning 300k now investing and compounding over the next 30 years could hit a 20 million dollar net worth easily
 
Don’t forget that the OP has already spent 4 years of undergrad education. So if he chooses to pursue a BSN degree, it means that he has to start all over again and his 4 yrs of undergrad would be a complete waste. I wonder how much cheaper it would be if he chooses the BSN/CNRA route vs the DDS route? Nursing program is very expensive as well. My niece borrowed around $100k to get her BSN degree at a 39 month West Coast University nursing program; it could have been a lot more if she didn’t live with her parents. And this is just for a BSN degree. Her first nursing job, which took her a while to find, paid her $60k/yr.... but that was more than 5 yrs ago....I don't know how much she makes now. According to this website Cost of Nurse Anesthetist School - School by Cost, some nurse anesthetist schools cost as low as $20k to attend….but there are schools that charge more than $180k.
 
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juniordentist said:
I don't think its a good idea to do this. However, I also think that it is likely we will be having the same conversation in 30 years. "we were all terrified of being 2m in debt". 2m debt in 30 years will likely feel like nothing at the end of your career. So it will be ok eventually. But the real question is in 30 years will the CRNAs and anaesthetic assistants be the ones who are in another league financially. I can imagine someone graduating with little debt earning 300k now investing and compounding over the next 30 years could hit a 20 million dollar net worth easily
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Lmfao

I’ve tried hard to not reply to this thread any longer.

20 M ?
lol I know plenty of crnas. Who have worked that long and they are no where close to that figure.

This guy needs to stop talking out of his @$$
 
toothnumber32 said:
Lmfao

I’ve tried hard to not reply to this thread any longer.

20 M ?
lol I know plenty of crnas. Who have worked that long and they are no where close to that figure.

This guy needs to stop talking out of his @$$
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I’m a big investment and numbers guy. If you invest $100k per year ($8,333.33/month) into the S&P500 at 10% (historical average return) after 30 years it’s over $18 million. So if you have an investment minded person making $300k for 30 years it can be done. Sure, it requires discipline, but it is possible.
 
Pablo Sanchez said:
I’m a big investment and numbers guy. If you invest $100k per year ($8,333.33/month) into the S&P500 at 10% (historical average return) after 30 years it’s over $18 million. So if you have an investment minded person making $300k for 30 years it can be done. Sure, it requires discipline, but it is possible.
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Exactly. Plus, if you are earning 300k now, in 15 years you could easily be earning 500k with general inflation. It is entirely possible / even likely
 
toothnumber32 said:
Lmfao

I’ve tried hard to not reply to this thread any longer.

20 M ?
lol I know plenty of crnas. Who have worked that long and they are no where close to that figure.

This guy needs to stop talking out of his @$$
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How do you know? The wealthiest people aren't the ones driving around in a Mercedes or living in the biggest house. They are quietly living below their means and investing well. Also, 20m is achievable from now for the next 20-30 years, not the previous 20-30 years. You need to Google a compound interest calculator and run the numbers
 
charlestweed said:
Don’t forget that the OP has already spent 4 years of undergrad education. So if he chooses to pursue a BSN degree, it means that he has to start all over again and his 4 yrs of undergrad would be a complete waste. I wonder how much cheaper it would be if he chooses the BSN/CNRA route vs the DDS route? Nursing program is very expensive as well. My niece borrowed around $100k to get her BSN degree at a 39 month West Coast University nursing program; it could have been a lot more if she didn’t live with her parents. And this is just for a BSN degree. Her first nursing job, which took her a while to find, paid her $60k/yr.... but that was more than 5 yrs ago....I don't know how much she makes now. According to this website Cost of Nurse Anesthetist School - School by Cost, some nurse anesthetist schools cost as low as $20k to attend….but there are schools that charge more than $180k.
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sounds like she paid a lot. a sibling of mine went to community college 2 years for free then transferred to one of the cal state universities and finished her BSN. she makes a little over 100k 1.5 years out of school. also, i know of a couple people in accelerated BSNs for people with non-nursing bachelors degrees which are usually 18 months long i believe
 
Pablo Sanchez said:
I’m a big investment and numbers guy. If you invest $100k per year ($8,333.33/month) into the S&P500 at 10% (historical average return) after 30 years it’s over $18 million. So if you have an investment minded person making $300k for 30 years it can be done. Sure, it requires discipline, but it is possible.
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The problem is most people who make such great income don’t want to live like they only make 50-60k/yr. They want a nice house, nice car and expensive travels once/twice a year etc ….etc….to reward themselves for their hard work and years of sacrifice (in schooling). That's why a lot of high income earners have to continue to work and can't retire.

A $300k/yr income will become $240k after paying income taxes. Putting/investing $100k in the S&P will leave you with just $140k/yr to live. Let’s assume that you have a $300k student loan to pay back…so that’s at least another $20-25k/yr that you have to substract from your living budget. A mortgage payment + insurance + property tax for a $700k house is around $7k/month (or $84k/yr). So after paying all the necessary expenses, you will be left with just 20-30k/yr to live. So are you willing to work hard (so you can consistently earn $300k every year) and continue to make sacrifice (by living on this $20 -30k/yr budget) for the next 30 years of your life? If yes, then yeah….you will retire with $20M.

If you are single and don’t have kids to support, $300k is a lot of money and you can retire with $20M by investing your money wisely. Without kids, you don’t need a big house...you don’t need to buy a house in a good neighborhood with good schools....you don’t need to put your money on 529 college plan for them. But if you plan to get married and have kids, having a spouse, who also earns good stable income will be a huge plus.
 
endough11 said:
sounds like she paid a lot. a sibling of mine went to community college 2 years for free then transferred to one of the cal state universities and finished her BSN. she makes a little over 100k 1.5 years out of school. also, i know of a couple people in accelerated BSNs for people with non-nursing bachelors degrees which are usually 18 months long i believe
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My niece struggled during her first year at one of the UC schools. She got Ds and Fs. Her mom recognized the problem and asked my wife for help. And my wife didn’t think it’s a good idea to continue with her failed schooling at a UC school. So my wife advised our niece to pursue a career in nursing. With her poor academic record, going to a more expensive nursing school was the only option. My niece’s husband is also a nurse. They have been out for more than 5 years and still can’t afford to buy a house. They both pay $3000 month to rent an apartment.
 
FosterWallace said:
The return is more like 6% adjusted for inflation and show me one person who makes 300k pre-tax and can invest 100k a year lol
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I never said that $20 million in 30 years will be worth what $20 million is today, but it will still be $20 million.

I’m slightly different in that I made over $400k last year and invested over $200k, so I’d think on $300k I’d be able to invest over $100k.
 
Pablo Sanchez said:
I never said that $20 million in 30 years will be worth what $20 million is today, but it will still be $20 million.

I’m slightly different in that I made over $400k last year and invested over $200k, so I’d think on $300k I’d be able to invest over $100k.
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Are you married and do you have kids? Charles is making a point
 
D1Bound said:
Are you married and do you have kids? Charles is making a point
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I don’t disagree with what Charles says. In fact, I’m a big Charles fan. I was just pointing out that you can get to $20 million in 30 years on a salary of $300k through consistent investments and discipline.
 
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The simple fact is that investing is just math, and the math says you can have 20million invested in 30 years on a 300k a year salary if you want.
And yes, people don't want to live frugally for 30 years. I agree, don't see a point in doing that just to have 20 million dollars when I die.
BUT the math also says you can live frugally for 10 years as a CRNA and have a million invested and be earning 300k a year. I would argue that is a better financial position than the majority of dental specialists, and a much easier path than becoming a dental specialist
 
Pablo Sanchez said:
I’m a big investment and numbers guy. If you invest $100k per year ($8,333.33/month) into the S&P500 at 10% (historical average return) after 30 years it’s over $18 million. So if you have an investment minded person making $300k for 30 years it can be done. Sure, it requires discipline, but it is possible.
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With an effective tax rate of 40%, the gross $300k nets you $180k. So, your position is to invest $100k and live off $80k/per year? Live off $80k/per year, ie support a family, buy a home, pay for insurances and utilities, take an occasional vacation, have some semblance of work/life balance.
 
SigmaFS said:
With an effective tax rate of 40%, the gross $300k nets you $180k. So, your position is to invest $100k and live off $80k/per year? Live off $80k/per year, ie support a family, buy a home, pay for insurances and utilities, take an occasional vacation, have some semblance of work/life balance.
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The average US household income is $80k. It’s doable. And this is just one income. Add a working spouse and suddenly it becomes easy. People need to learn to live within their means.

And I just put it in an income tax calculator. An income of $300k in my state, for a single filer, post tax, comes out to over $220k take home. Invest $100k and live off of $120k. If you can’t do that and have a fulfilled life there is something wrong with you.
 
SigmaFS said:
With an effective tax rate of 40%, the gross $300k nets you $180k. So, your position is to invest $100k and live off $80k/per year? Live off $80k/per year, ie support a family, buy a home, pay for insurances and utilities, take an occasional vacation, have some semblance of work/life balance.
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Not sure if you understand the difference between marginal tax rate and effective tax rate, but the effective tax rate in California which is very high is 35% so you are taking home 190k on 300k.
And yes, if you can live off 90k a year for 10 years as a CRNA to be financially set for the rest of your life that sounds like a good deal to me.
If you do 4 years of dental school and a 3 year specialty that is 7 years of living off that income. All dental specialists are basically forced to do this anyway. You're acting like it's some huge sacrifice that we are basically all doing subconsciously anyway
 
juniordentist said:
670k at the end of dental school... This will easily be a million by the time you finish omfs residency. Then, maybe you have to do a 1 year fellowship as OR time is competitive at hospitals, so add on another year of low pay and interest accruing. I am 9 years out of dental school, I have earned a decent salary the whole time, nothing amazing, I've been investing, I was able to buy a house years ago when it was way cheaper, I was able to buy stocks when they were much cheaper. My friend is still on the OMFS path. When he finishes, he will have no home equity, he will have to buy a home when it is massively more expensive, start investing when stocks are much more expensive. On top of that, he will have to pay a huge school debt. At some point, the high salary isn't worth it. Now that I am 9 years out I am earning a good income, I don't think my OMFS friend will catch up to me financially for atleast 10-15 more years. This will be 20 years after graduating dental school - basically close to retirement age. At that point, it will be who can work to an older age - probably easier to do as a dentist than omfs?
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Can I ask - what is your salary, overall debt, and the value of your stocks and house? I find it hard to believe it would take your OMFS friend that many years to catch up, considering how much surgeons make.
 
Torshammer said:
Can I ask - what is your salary, overall debt, and the value of your stocks and house? I find it hard to believe it would take your OMFS friend that many years to catch up, considering how much surgeons make.
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I have 1m in stocks. I earn 300k a year salary from dental. I can invest 120k a year on my salary. I'm single with no kids
So if stocks get 7% a year, it means my stocks are growing 70k a year, and I can add 110k investments a year from my salary. So let's just say 180k a year increase

If my surgeon friend makes double what I do, 600k pre tax, 340k after tax, lives off 100k a year, he would be able to save 240k a year.

That's only 60k a year more trying to catch up to a million... and he still needs to buy a house
 
juniordentist said:
I have 1m in stocks. I earn 300k a year salary from dental. I can invest 120k a year on my salary. I'm single with no kids
So if stocks get 7% a year, it means my stocks are growing 70k a year, and I can add 110k investments a year from my salary. So let's just say 180k a year increase

If my surgeon friend makes double what I do, 600k pre tax, 340k after tax, lives off 100k a year, he would be able to save 240k a year.

That's only 60k a year more trying to catch up to a million... and he still needs to buy a house
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This relationship is not the norm though. Most dentists have not been practicing already 9 years while their old classmates are still going through OMFS residency. While you might have a 9+ year head start on this particular guy (since he’s still in residency it seems), it’s typically a 4-6 year head start for someone matching out of school. The numbers look a lot different when you calculate it that way
 
juniordentist said:
I have 1m in stocks. I earn 300k a year salary from dental. I can invest 120k a year on my salary. I'm single with no kids
So if stocks get 7% a year, it means my stocks are growing 70k a year, and I can add 110k investments a year from my salary. So let's just say 180k a year increase

If my surgeon friend makes double what I do, 600k pre tax, 340k after tax, lives off 100k a year, he would be able to save 240k a year.

That's only 60k a year more trying to catch up to a million... and he still needs to buy a house
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Thanks for sharing.
Do you own a house or any other real estate?
If not why don’t you own any property ?
 
toothnumber32 said:
Thanks for sharing.
Do you own a house or any other real estate?
If not why don’t you own any property ?
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I own an apartment. It's doubled in price over the last 10 years. It is only modest. In hindsight I should have bought a more expensive one or a house. No investment properties. I should have bought investment properties in hindsight too
 
stealyoface said:
This relationship is not the norm though. Most dentists have not been practicing already 9 years while their old classmates are still going through OMFS residency. While you might have a 9+ year head start on this particular guy (since he’s still in residency it seems), it’s typically a 4-6 year head start for someone matching out of school. The numbers look a lot different when you calculate it that way
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He did a GPR, then took a government job as he thought it would help boost his CV. So it was 3 years and then started a 6 year program and is planning on doing 1-2 years fellowship after
 
juniordentist said:
ot sure if you understand the difference between marginal tax rate and effective tax rate, but the effective tax rate in California which is very high is 35% so you are taking home 190k on 300k.
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Effective tax rate is = (federal income tax + state income tax +local tax +Social Security + Medicare)/total income. At $300k/gross, yes, you can be at a 40% effective tax rate. And, yes, I'm very familiar with marginal tax rates.
 
Pablo Sanchez said:
he average US household income is $80k.
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Household includes all members of the household including spouses. $80k gross for a household is doable assuming what? Say it's a household of 4, 2 spouses & 2 children...what do you think life is like for that family with a $70k net/yr?
 
juniordentist said:
I own an apartment. It's doubled in price over the last 10 years. It is only modest. In hindsight I should have bought a more expensive one or a house. No investment properties. I should have bought investment properties in hindsight too
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If you were to apply for a home loan (mortgage) what is the absolute most expensive home you can afford?
This is what I would do - purchase the most expensive home I can qualify for. It doesn’t have to be a big house, it just has to be in the nicest neighborhood.

I know this is unsolicited advice, but you need to purchase a house in the best neighborhood (usually these have the best schools).
I’d even sell your apartment to help for this.

For the vast majority of doctors that I know - their home is their primary and best investment they made over the years.
Stocks you still have to pay capital gains taxes etx
 
toothnumber32 said:
If you were to apply for a home loan (mortgage) what is the absolute most expensive home you can afford?
This is what I would do - purchase the most expensive home I can qualify for. It doesn’t have to be a big house, it just has to be in the nicest neighborhood.

I know this is unsolicited advice, but you need to purchase a house in the best neighborhood (usually these have the best schools).
I’d even sell your apartment to help for this.

For the vast majority of doctors that I know - their home is their primary and best investment they made over the years.
Stocks you still have to pay capital gains taxes etx
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I think this is good advice, however, the thought of locking myself into a 25 year mortgage for a huge house is a bit overwhelming. The way I'm going, with 1m invested, earning 300k a year, I can gain complete financial independence in 10 years. So then the question is, would I rather a big house and work for 30 more years, or keep going the way I am and retire in 10 years? That's a tough decision that I honestly don't know the answer to.
 
toothnumber32 said:
If you were to apply for a home loan (mortgage) what is the absolute most expensive home you can afford?
This is what I would do - purchase the most expensive home I can qualify for. It doesn’t have to be a big house, it just has to be in the nicest neighborhood.

I know this is unsolicited advice, but you need to purchase a house in the best neighborhood (usually these have the best schools).
I’d even sell your apartment to help for this.

For the vast majority of doctors that I know - their home is their primary and best investment they made over the years.
Stocks you still have to pay capital gains taxes etx
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Yeah but you’re also stuck living in your house… and it’s heavily leveraged. Imo housing is better thought of as consumption, or a luxury, rather than an investment. I wouldn’t even count it in net worth. If your home is your most valuable asset at the end of your career then you have screwed up.

Imo It’s better to keep your living costs low so that you can invest more.
 
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juniordentist said:
I think this is good advice, however, the thought of locking myself into a 25 year mortgage for a huge house is a bit overwhelming. The way I'm going, with 1m invested, earning 300k a year, I can gain complete financial independence in 10 years. So then the question is, would I rather a big house and work for 30 more years, or keep going the way I am and retire in 10 years? That's a tough decision that I honestly don't know the answer to.
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In the right area, city, location you can make a ton of gain in net worth just from the house you own and live in. Not only that - you’re actually enjoying and using the home, every day. Again I never said to buy a big house. I said buy an expensive home in the best neighborhood you can afford.

I would move out of the apartment, get a nice home, get married have kids. You’re old enough. I know this is unsolicited advice. Just trying to advise you the best I can. You’re not getting any younger. It’s harder to have kids the older you get. You will need a house when you have kids. You can’t live in an apartment.
 
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