patient responsibility

[PikminOC]

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"Doc gross pay already includes malpractice insurance.

Yep, I think so. I work. A lot.

Just another 4 years of residency, to break >$250k average. Put in some locum tenens or OT is $350k easy. If I could start over as an 18 yo, I would LOL

At this point, I am too old. 28 yo, with a net worth mid 6 figures and if I were to start over 8 years of schooling (lost income of $1M), it is just not worth it IMO. I would have had ~$1.8M and around 8% in average with stock market gain $144k/year + $100k (pharmacist salary) = give or take $244k which is roughly doctor salary at age 36 with a lot less responsibility.."

This was posted by MOMUS in a pharmacy forum.

Are docs really perceived as having "a lot less responsibility"? Because I have felt a great deal of responsibility for patients as a psychiatrist including patients' stagnant psychosocial issues. MOMUS was referring to an OBGYN doc and I consider them to have a great deal of responsibility also.

 

[michaelrack]

"Doc gross pay already includes malpractice insurance.

Yep, I think so. I work. A lot.

Just another 4 years of residency, to break >$250k average. Put in some locum tenens or OT is $350k easy. If I could start over as an 18 yo, I would LOL

At this point, I am too old. 28 yo, with a net worth mid 6 figures and if I were to start over 8 years of schooling (lost income of $1M), it is just not worth it IMO. I would have had ~$1.8M and around 8% in average with stock market gain $144k/year + $100k (pharmacist salary) = give or take $244k which is roughly doctor salary at age 36 with a lot less responsibility.."

This was posted by MOMUS in a pharmacy forum.

Are docs really perceived as having "a lot less responsibility"? Because I have felt a great deal of responsibility for patients as a psychiatrist including patients' stagnant psychosocial issues. MOMUS was referring to an OBGYN doc and I consider them to have a great deal of responsibility also.

I interpret that post as the pharmacist saying that he (the pharmacist) has less responsibility than a doctor.

 

[billypilgrim37]

Agreed.

But anybody who asserts they are going to be averaging 8% in the stock market is too far gone to bother worrying about what they say anyway. I'd feel more comfortable if he said he was going to clear that playing online poker.

 

[michaelrack]

Agreed.

But anybody who asserts they are going to be averaging 8% in the stock market is too far gone to bother worrying about what they say anyway. I'd feel more comfortable if he said he was going to clear that playing online poker.

http://www.nj.com/news/index.ssf/2012/08/federal_judge_tosses_out_convi.html

agree, though online poker is illegal in most jurisdictions (and some of the online games are crooked). Poker is a game of skill and it is quite possible to clear 8% playing poker in a casino through disciplined and skillful play.

 

[Ibid]

http://www.nj.com/news/index.ssf/2012/08/federal_judge_tosses_out_convi.html

agree, though online poker is illegal in most jurisdictions (and some of the online games are crooked). Poker is a game of skill and it is quite possible to clear 8% playing poker in a casino through disciplined and skillful play.

Most players aren't skilled and most skilled players are not disciplined. 99.99% of all players eventually find the game that will break them. imo

ps if you are smart enough to make money at poker you are smart enough to find an easier way to make money.

 

[vistaril]

"Doc gross pay already includes malpractice insurance.

Yep, I think so. I work. A lot.

Just another 4 years of residency, to break >$250k average. Put in some locum tenens or OT is $350k easy. If I could start over as an 18 yo, I would LOL

At this point, I am too old. 28 yo, with a net worth mid 6 figures and if I were to start over 8 years of schooling (lost income of $1M), it is just not worth it IMO. I would have had ~$1.8M and around 8% in average with stock market gain $144k/year + $100k (pharmacist salary) = give or take $244k which is roughly doctor salary at age 36 with a lot less responsibility.."

This was posted by MOMUS in a pharmacy forum.

Are docs really perceived as having "a lot less responsibility"? Because I have felt a great deal of responsibility for patients as a psychiatrist including patients' stagnant psychosocial issues. MOMUS was referring to an OBGYN doc and I consider them to have a great deal of responsibility also.

the problem is when people do these sorts of analysis, they always imagine what they would have if they were a 33 yo engineer or whatever,,,,the reality is I know a ton of engineers/pharmacists/accountants/etc in their late 20s to mid 30s, and almost none of them has several hundred thousand dollars socked away somewhere.....now they may not have the degree of student loan debt some of us do, but I certainly wouldnt trade places with many of them from a financial angle....

 

[whopper]

Not including that you should enjoy what you do. I would hate being an engineer. I hated math. I always did well in it but I never liked it.

 

[Indodo]

People always underestimate the stock market return in down times. Overall it has excellent return. If you were smart enough to buy after the crashes you have likely been very happy. I know I have.

You have to look at stock market returns in long term periods. Its almost always greater than 8%.
Here is a 20 year period chart.
http://observationsandnotes.blogspot.com/2009/04/best-worst-20-years-in-stock-market.html

 

[strangeglove]

I once had a patient with severe depression whose only source of pleasure was online poker. He killed himself. Sad.

 

[BobA]

People always underestimate the stock market return in down times. Overall it has excellent return. If you were smart enough to buy after the crashes you have likely been very happy. I know I have.

You have to look at stock market returns in long term periods. Its almost always greater than 8%.
Here is a 20 year period chart.
http://observationsandnotes.blogspot.com/2009/04/best-worst-20-years-in-stock-market.html

http://www.cjr.org/the_audit/the_real_dow.php

 

[Indodo]

http://www.cjr.org/the_audit/the_real_dow.php

.99% per year over 80 years of real gain.

Which is:
1) A rock solid "real" money maker.
2) Not including the 2.5% or so per year of dividends (taxed at capital gains) that the market produces.
3) Better than any other completely passive investment.

The Stock Market is a risk but a relatively safe one. You can always make more but you have to take greater risks.

 

[Ibid]

People always underestimate the stock market return in down times. Overall it has excellent return. If you were smart enough to buy after the crashes you have likely been very happy. I know I have.

You have to look at stock market returns in long term periods. Its almost always greater than 8%.
Here is a 20 year period chart.
http://observationsandnotes.blogspot.com/2009/04/best-worst-20-years-in-stock-market.html

Hmmmm 20 yrs you say? Lets try that out on the Japanese market.

225 around 40 000 in 1989, today its about 8 800....sooooo that means that it will have to rise about 300% to get back to where it was 20 years ago....

Obviously this theory is about being smart enough to be born at the right time in the right place as well and living to be 400yrs old in order to take advantage of this infallible miracle system.

p.s. I have heard that diamond geezer running out of trap 5 in the 3.30 and kempton races is a dead cert....the guy who mucks out the horse box overheard a conversation between one of the jockeys and his girlfriend who heard it from the trainer telling the owners it was bound to go well. Get oooooonnnnnnn!!!!!!!! It's a BANKA!!!!!!!

 

[whopper]

REITs.

I've had money in them for a few years. The dividend is giving back about %14 a year and the current projection is they'll only go up in the next few years with the real estate market showing signs of recovery.

 

[Ibid]

REITs.

I've had money in them for a few years. The dividend is giving back about %14 a year and the current projection is they'll only go up in the next few years with the real estate market showing signs of recovery.

Thats nothing compared to the projections I'm getting from the ostrich farming association.....apparently they project that by 2025 the ostrich will have replaced the cow as the worlds premier provider of protein and fantastically chinese people prefer the taste of ostrich!!....the ostrich farming association is run by people of the highest integrity, probity and honour and they would never just make up the numbers because they run ostrich farms or anything like that....get stuck in I say!!

 

[Ibid]

Anyone really wanting to get in on the ground floor, my hot tip revolves around the fact that the worlds supply of fish is steadily drying up. For all intents and purposes around 2025 that will be it, finito, all gone. No more fish fingers.

Step up the hitherto unloved Jellyfish!! Obviously it takes a bit of processing to make this rubbery creature palatable, otherwise it tastes like one of those Goodyear Radials your grandmother used to bake on special occasions.

So INVEST NOW in jellyfish processing. Get RICH turning Jelly into GOLD!!! You wont regret it!!

 

[OldPsychDoc]

Thats nothing compared to the projections I'm getting from the ostrich farming association.....apparently they project that by 2025 the ostrich will have replaced the cow as the worlds premier provider of protein and fantastically chinese people prefer the taste of ostrich!!....the ostrich farming association is run by people of the highest integrity, probity and honour and they would never just make up the numbers because they run ostrich farms or anything like that....get stuck in I say!!

Tastes like chicken...
😀

 

[digitlnoize]

Thats nothing compared to the projections I'm getting from the ostrich farming association.....apparently they project that by 2025 the ostrich will have replaced the cow as the worlds premier provider of protein and fantastically chinese people prefer the taste of ostrich!!....the ostrich farming association is run by people of the highest integrity, probity and honour and they would never just make up the numbers because they run ostrich farms or anything like that....get stuck in I say!!

If you guys really want to get rich, start buying water rights to mountain streams and water supplies. I have a geologist friend who promises me that the world is quickly running out of water, and whoever controls the water will be set.

I have no idea how to go about doing that, but I want to get on it, ASAP.

Edit: Google is my friend. For example: http://bateslandco.com/ranches-for-sale/senior-water-rights-in-tenmile-creek-montana/

 

[michaelrack]

Most players aren't skilled and most skilled players are not disciplined. 99.99% of all players eventually find the game that will break them. imo

.

that may be true of online players, but\ many regular casino poker players are skilled and do make $ (often from tourists/casual players).

 

[michaelrack]

ps if you are smart enough to make money at poker you are smart enough to find an easier way to make money.

poker isn't brain surgery. But I agree that there easier ways to make $. Most professional poker players aren't making their cash in big tournaments on TV; they are slowly grinding out a living in cash games- that is not a lifestyle I would want.

I play local poker tournaments to build up my skill. I hope to one day win a World Series of Poker Bracelet (not necessarily for the main event). I am more interested in fame, not fortune.

 

[notdeadyet]

Thats nothing compared to the projections I'm getting from the ostrich farming association.....apparently they project that by 2025 the ostrich will have replaced the cow as the worlds premier provider of protein and fantastically chinese people prefer the taste of ostrich!!....the ostrich farming association is run by people of the highest integrity, probity and honour and they would never just make up the numbers because they run ostrich farms or anything like that....get stuck in I say!!

Damn, I wish I met you before I invested in that damn flock of emus.

 

[Ibid]

Damn, I wish I met you before I invested in that damn flock of emus.

Never underestimate an Emu! If you think the US military suffered a bloody nose in Vietnam thats nothing compared to the humiliation inflicted on the Australian Army in 1932 by an army of Emu.

To quote from the battle ground (Major Meridith)
"If we had a military division with the bullet-carrying capacity of these birds it would face any army in the world...They can face machine guns with the invulnerability of tanks. They are like Zulus"

"The machine-gunners' dreams of point blank fire into serried masses of Emus were soon dissipated. The Emu command had evidently ordered guerrilla tactics, and its unwieldy army soon split up into innumerable small units that made use of the military equipment uneconomic. A crestfallen field force therefore withdrew from the combat area after about a month"

For those who doubt the veracity of this tale http://en.wikipedia.org/wiki/Emu_War

HOOAH!!! Show me your war face!!!!

 

[Ceke2002]

Most players aren't skilled and most skilled players are not disciplined. 99.99% of all players eventually find the game that will break them. imo

ps if you are smart enough to make money at poker you are smart enough to find an easier way to make money.

A friend of mine racked up prize money in excess of $200,000 US playing online poker. Mind you he's like a total maths whiz, who can more or less instantaneously calculate complex formulas to determine the best game strategy per hand. He tried to explain it to me once, I just kind of looked blank.

 

[Ibid]

poker isn't brain surgery. But I agree that there easier ways to make $. Most professional poker players aren't making their cash in big tournaments on TV; they are slowly grinding out a living in cash games- that is not a lifestyle I would want.

I play local poker tournaments to build up my skill. I hope to one day win a World Series of Poker Bracelet (not necessarily for the main event). I am more interested in fame, not fortune.

Or grinding it out playing serveral tables of cash limit on Stars. Before the US pulled the plug on Party Poker their was a living to be had for even a casual player with the patience to employ the devious tactic of waiting for a proper hand.🙂

Those bracelets just arn't going to look good with French cuffs. I'd rather have the cash.

 

[Ibid]

A friend of mine racked up prize money in excess of $200,000 US playing online poker. Mind you he's like a total maths whiz, who can more or less instantaneously calculate complex formulas to determine the best game strategy per hand. He tried to explain it to me once, I just kind of looked blank.

The internet is awash with people who have won and lost millions. Part of being a great player is to be able to walk away with the winnings.

There is more than one way to win at poker and a fair understanding of the underlying math is going to help but the calculations in every hand are always rather mechanical in the end. After a few million hands a player will have seen just about every general situaltion and wont be doing fresh calculations.

Looking blank in live games is good.

 

[michaelrack]

I play mostly tournaments now rather than cash games- a little less mathematical, and more strategy based.