vaio

Senior Member
10+ Year Member
5+ Year Member
Aug 25, 2005
408
0
Status
I'm currently in the process of gaining admission to dental school for the '06 cycle. I was looking into different schools and their costs/fees, and they range anywhere from 150K upto 300K. With such imensely high fees, do you think once one is a practicing dentist, he/she will get a good return on his/her investment(dental education fees), to pay off so much and make some money/profit? I had a conversation on this with one of my friends whose a financial analyst and he has me all freaked out
 

Periogod

Senior Member
10+ Year Member
5+ Year Member
Jul 23, 2005
114
0
Status
:(
vaio said:
I'm currently in the process of gaining admission to dental school for the '06 cycle. I was looking into different schools and their costs/fees, and they range anywhere from 150K upto 300K. With such imensely high fees, do you think once one is a practicing dentist, he/she will get a good return on his/her investment(dental education fees), to pay off so much and make some money/profit? I had a conversation on this with one of my friends whose a financial analyst and he has me all freaked out
Nope. Every dentist that has ever gone through school has had to declare bankruptcy. Dentists make no money, it all goes to student loans and these last for 30 years. Its only after these 30 years of paying back your loans (if your still alive) that you will turn a profit. The problem though is then you have to start paying off those loans you had to take out to purchase your practice so you might as well plan to work until your dead. Its a vicous cycle and I am married to a dentist so its twice as bad for us. You should feel very sorry for me and my finacial woes. :scared:
 

vaio

Senior Member
10+ Year Member
5+ Year Member
Aug 25, 2005
408
0
Status
Periogod said:
:(

Nope. Every dentist that has ever gone through school has had to declare bankruptcy. Dentists make no money, it all goes to student loans and these last for 30 years. Its only after these 30 years of paying back your loans (if your still alive) that you will turn a profit. The problem though is then you have to start paying off those loans you had to take out to purchase your practice so you might as well plan to work until your dead. Its a vicous cycle and I am married to a dentist so its twice as bad for us. You should feel very sorry for me and my finacial woes. :scared:
;)
 
About the Ads

Rezdawg

1K Member
7+ Year Member
15+ Year Member
Sep 29, 2003
1,617
2
Houston
Visit site
Status
Dentist
If you make 150,000 a year for 30 years, then you have accumulated 4.5 million dollars off of your school tuition (150,000-300,000).

Good returns.
 

drhobie7

10+ Year Member
Jun 9, 2005
1,367
11
Los Angeles, CA
Status
Resident [Any Field]
A few months ago I was at a bar and some tool of a CPA tried to tell me this was a horrible time to be a dentist, that competition was so high I could never make a decent living. I looked at him like the alien he was and walked away. Either he had no concept of what he was talking about or he was bitter about the fantastic future we have and was pissed off he had to spend his days in accountant boredom.
 

Periogod

Senior Member
10+ Year Member
5+ Year Member
Jul 23, 2005
114
0
Status
Rezdawg said:
If you make 150,000 a year for 30 years, then you have accumulated 4.5 million dollars off of your school tuition (150,000-300,000).

Good returns.
This is not exactly true. If you make $150,000 a year, you're only seeing about 2/3rds (this is being generous) after taxes ($3 mill over 30 years). Not to mention your $200,000 school loan turns into $420,000 of payments. But that still leaves around $2.5 mill to play with and if you're a halfway decent businessman and invest your money well I don't think you'll be on the street begging for change.
 

Yah-E

Toof Sniper
10+ Year Member
15+ Year Member
Dec 12, 2001
3,339
28
Longitude 80.0W Latitude 40.44N
Status
Non-Student
drhobie7 said:
Either he had no concept of what he was talking about or he was bitter about the fantastic future we have and was pissed off he had to spend his days in accountant boredom.
Definitely the latter.
 

Rezdawg

1K Member
7+ Year Member
15+ Year Member
Sep 29, 2003
1,617
2
Houston
Visit site
Status
Dentist
Periogod said:
This is not exactly true. If you make $150,000 a year, you're only seeing about 2/3rds (this is being generous) after taxes ($3 mill over 30 years). Not to mention your $200,000 school loan turns into $420,000 of payments. But that still leaves around $2.5 mill to play with and if you're a halfway decent businessman and invest your money well I don't think you'll be on the street begging for change.
True, but I also plan on averaging over $150,000 a year over my lifetime...I was lowballing it on purpose.
 
About the Ads