- Joined
- Jan 22, 2015
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- 11
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I'll cut right to the point. I skipped my flight to a foreign med school (AUA) last fall, mainly because of the financial losses I'd encounter before becoming an MD, the uncertainty of getting a residency, and my break even point being when I was 55 yrs old.
I'm 32, ibanker, net worth 1mm, income +/- 250k/yr (not guaranteed, I have to work for it), MCAT 478, UGPA 2.9, sci pre req GPA 3.5. Let's just say I knew how to have fun, but get the job done as well and was street savvy. Somewhere in my late 20s I wanted to help ppl and medicine pulled me in to develop a 2nd career. Knocked out my pre reqs while working.
Fast fwd. By enrolling in med school, I'd encounter 1.5mm in losses from forgone income, plus tuition all the way until residency was over. So 1.5mm in losses until 39. It would take me 15 yrs or so to recoup those losses.
Is med school worth it in my case?
I want to start studying for the mcat and focus on improving my scores to get accepted into a US program.
Need advice as the urge to become a dr is growing. I'm very competitive and know that I can do it.
I've included a chart and a model I created the night of my flight which helped me skip it. I used conservative numbers for the non MD version of my self. The losses account for tuition and lost income. My salary as a non traditional. Was a very conservative 175k until 50 yrs of age at which point I would retire with no investments. The only thing I don't like about my job is the uncertainty and the lack of social welfare. I love the money, which is how I became a millionaire before 30.
Just need some advice. Thanks in advance.
I'm 32, ibanker, net worth 1mm, income +/- 250k/yr (not guaranteed, I have to work for it), MCAT 478, UGPA 2.9, sci pre req GPA 3.5. Let's just say I knew how to have fun, but get the job done as well and was street savvy. Somewhere in my late 20s I wanted to help ppl and medicine pulled me in to develop a 2nd career. Knocked out my pre reqs while working.
Fast fwd. By enrolling in med school, I'd encounter 1.5mm in losses from forgone income, plus tuition all the way until residency was over. So 1.5mm in losses until 39. It would take me 15 yrs or so to recoup those losses.
Is med school worth it in my case?
I want to start studying for the mcat and focus on improving my scores to get accepted into a US program.
Need advice as the urge to become a dr is growing. I'm very competitive and know that I can do it.
I've included a chart and a model I created the night of my flight which helped me skip it. I used conservative numbers for the non MD version of my self. The losses account for tuition and lost income. My salary as a non traditional. Was a very conservative 175k until 50 yrs of age at which point I would retire with no investments. The only thing I don't like about my job is the uncertainty and the lack of social welfare. I love the money, which is how I became a millionaire before 30.
Just need some advice. Thanks in advance.