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I know that the avg. income for MD's are 250,000, but isn't that after years of practice. I heard that some don't even earn near that amount. is that true?
Originally posted by mlw03
nice to see people are getting into medicine for the right reasons... you guys sound like the spoiled athletes. doctors are probably in the top 5% in terms of average income - isn't that enough? people manage to live on 30K/yr and some doctors complain that 100K isn't enough? if you wanna make a ton of money go into law... and then you can be an ambulance chaser suing those of us that actually contribute to society. if you get through med school you're gonna be very comfortable. that ought to be enough.
Originally posted by mlw03
So once you finish residency, are you going to donate all your salary minus 30k to charity?
I didn't think so
my reply:
actually this is something i have considered (the donating to charity thing posted above), although not exactly how you suggest it. one year, when i am in my 40s or 50s and financially secure i would like to donate an entire year's salary to charity, choosing a different charity each pay period. my hope would be to draw media attention and then make the point that if i could afford to donate a year's salary then perhaps others could afford to do the same. for example, does a doctor really need to spend 40K on a lexus when a 20K camry is still a very good car? i'm not saying money isn't nice, and i'm not self-righteous. it's more that i'm a little socialist, but that's another discussion for another day.
Originally posted by femdoc
To the OP, try doing a search on physician recruiting websites to get an idea about salaries.
Originally posted by luckyzero
As with any profession, money should be considered. It shouldn't be the most important thing, obviously.
Originally posted by mlw03
if you wanna make a ton of money go into law... and then you can be an ambulance chaser suing those of us that actually contribute to society. if you get through med school you're gonna be very comfortable. that ought to be enough.
everyone who says they don't care about money is lying, since you could always work for less money...even as a doctor. just become a doctor and volunteer at a free clinic all the time...you won't do it, because no one ever does.
Originally posted by judoka
if you think you can live happily on 50k a year, see what happens when you want to buy nice clothes, or a nice car, or a nice house, or give your kids all the things you never had. a 100k is not great either, especially the way things are priced these days.
Originally posted by hightrump
"What planet are you from and what reality are you living in? 100k may seem a bit low if you live in NYC, San Fran or Hartford. For the last 4yrs my wife and I have combined for between 80-90k in Austin. Until I decided to go to med school, we lived in a beautiful custom home on a .5 acre treed lot worth $250k. She drove an MB SUV and I had a Lincoln LS. We had a new ski boat, nice Caribbean vacation every year and two kids to take care of. Not to mention, I was putting over 10k/yr in the 401k for the past 8 yrs."
I you said you USED to live there. If you had bought a place like that with those cars, by the time your kids got into their teens you would shoot yourself. You just cant doo all of that and still have money for kids on 90K once you pay taxes.
Originally posted by hightrump
I reread my post Matt and moderated my opinions.
Also, one man making 100K and having a wife to be able to stay home with kids, is vastly better than the scenario described. Two parents both working full time plain sucks and is another good reason to make sure you make all you can reasonably make.
Im not saying 100K isnt enough, it certainly is enough to raise a family. The other guy said, "not great" , and it aint, epsecially if its combined income.
Originally posted by hightrump
Just treading water isnt swimming. I have know alot of peope how build a house of cards. Buying and buying untill they were in debt up to their eyeballs.
Originally posted by WatchingWaiting
The key fact is that he lives in Texas
Originally posted by Marianne11
I own several businesses.