Question about $$$ in EM.

[The White Coat Investor]

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See, that's my issue.

I'm constantly concerned for the well-being of others, and it really bothers me, occasionally to the point of losing sleep. For instance, there was a family of four in front me in line at the grocery store last weekend, their conveyer section contained a 24 pack of bush light, a gallon of milk, some meat products, and a bag of rice. After the cashier rang everything up, their debit card was declined and they slowly began removing items from the conveyor, the food products being the first to go, and the case of beer and a bag of chips were the only things that remained. Their two little kids were questioning what they would be eating for dinner, and I “lost it.” After forcefully giving the family $15 as they left the store, I knew I made a mistake as they would most likely be picking up a cartoon of cigarettes on the way home. Something like this will stick with me for years, constantly stressing over what the hell is wrong with people and what more I could have done.

People are crazy and you can't fix crazy and will go crazy trying to do so. Do what you can and accept that's all you can do. You'll be happier in the long run.

 

[pooperdooper]

Everyone knows the original post in this tread was a troll, right?



A lot of people who buy Lamborghinis also have zero interest in cars.. most people I know who drive for pleasure and enjoy automobiles buy <$20k cars then spend some money on them. The enjoyment comes with doing your own maintenance, restoring, customizing, then driving the ever loving crap out of it. Of course it helps to live somewhere with beautiful scenery and empty roads.

My car is probably the least expensive, highest mileage auto in the parking lot at work, definitely the only one without A/C.



Look at the prices for Porsche 911s over the past 20 years. Pretty much every model that has already bottomed out is appreciating. The 996 is currently at market bottom (due to several factors) but 993 and older are significantly appreciating every year. 993 prices have gone through the roof in the past 5 years. Nothing compared to E30 M3 prices where a $10k car 10 years ago now costs $80k but I digress... 😉

I wasn't trolling lol. This is a genuine question from a genuine person who is genuinely interested in nice cars (childhood dreams anyone?)

I was just curious if it was feasible to buy one/lease one haha. It's not as if I'm gonna go out and buy one 5 years out of residency or something.

Obviously the maintenance and upkeep of the cars ends up biting you in the ass but to even get to that point you'd need the car first and that was my original question

 

[DetectiveAlonzo]

I wasn't trolling lol. This is a genuine question from a genuine person who is genuinely interested in nice cars (childhood dreams anyone?)

I was just curious if it was feasible to buy one/lease one haha. It's not as if I'm gonna go out and buy one 5 years out of residency or something.

Obviously the maintenance and upkeep of the cars ends up biting you in the ass but to even get to that point you'd need the car first and that was my original question

In this country my friend...

All you need is a solid credit score and a down payment, you can get any car you want lol

Keeping it is a whole different issue.

 

[Jordan95]

The "Porsche fad" has been a "market trend" for more than half a century. Porsche consistently has the highest profit margins out of any major auto manufacturer. For the past like 40 years Porsches have held their value well compared to their competition, and many people view various model-year 911s as investments. This is common knowledge for anyone who is into classic European cars.

It's a shame too because when I was in college I wanted a 993 when I was done.. back then they were like $25k for a really nice one. Now a 993 Carrera 2 that isn't ratted out approaches $100k. Hopefully the 997 will bottom out in a few years..

From my understanding the only porsches that have significantly increased in value are the ones equipped with air cooled engines. The reason these cars are coveted is becuase nothing else like it will ever be manufactured again due to strict emission laws enacted in the early 2000's.

Can the same be said for the current models? I think not.

911 Turbo S depreciation/appreciation

2017 (MSRP) - $188,000

2012 - $100,000

2007 - $ 65,000

1997 - $400,000 (Air cooled, no emission crap).

 

[DetectiveAlonzo]

dunno how an interest is making that kind of money. as an EM attending, i drive a 10k car, own a 300k house and paying off my student loans and expecting pslf. my kids go to preschool at 10k/yr per kid. we go on vacation a couple times a year for a couple thousand and still only saving 30%. maybe once loans are good i could afford a 500-800k house.


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Simple. He hustles for it. He'll see 25-30 patients a day and is very efficient. Has different hospital privileges. Takes call like no other. Picks up shifts at the ICU and ER.

Usually heads to the golf course about 15-20 minutes away from the hospital and if gets called in, he goes in, does his thing and leaves.

IF not, he gets to play golf all day and gets paid for it.

For the future EM students, I really hope you guys reading this do not see the money and shift work that EM is all good for. You guys will be disappointed after awhile if you truly do not enjoy the work and enjoy the setting and most importantly enjoy the actual people you will be dealing with. You will be seeing it all. Psych patients, tummy aches, Gangbangers, and people who will try to manipulate you for their own gain. IT is less ER and more primary care situated nowadays.

Point is...

You can make money doing ANYTHING in medicine if you work hard for it.

Problem is that the youngins nowadays want everything fast, and want everything right away without putting in much effort. It is what it is.

Here's another anecdotal piece of evidence for you.

Cousin graduated from one of those Carib schools, got into IM in the middle of nowhere, went absolute beast mode doing 84 hours a week (week on and week off schedule) and would pick up extra shifts on his week off and made a killing. He paid off his $300,000 debt in LESS than 2 years.

I call that a worthwhile sacrifice and discipline. Not many people can do that.

It can be done.

Gotta work for it doe.