To PT or not to PT...

[CAphanatic]

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So a little background info... Im 30, spent 10 years in the military and really didn't do much of any college classes while I was in. So other than this one semester I'm finishing up now, I would basically have a full 7 years of school to become a DPT...

I want to get some outside perspectives, hear some opinions on the matter from people smarter than me, particularly on the financial side of the house.

-Ive got my GI Bill to fall back on, so I will have nearly zero debt if I went all the way through with a DPT degree, I would probably have to pay out of pocket for maybe my last year of school, so no real big deal there... But the problem is, should I really stay away from the workforce that long, contributing zero money to a retirement fund? Is it worth it? Im getting my degree in business, with a concentration in healthcare, so I could theoretically land a job with similar pay and start working three years sooner, but I would much rather be a DPT or even get an MOT, something like that. I think thats where I would be the most happy. My wife says go for it, but I don't know...

Has anyone else faced this situation? I've got a wife and kid, and probably one on the way within the next year or so.
What would you do? Or what did you do if you've already gone through this? Any financial advisor gurus that can breakdown some numbers maybe?

Im definitely going to school for my bachelors, just trying to figure out if 3 more years on top of that is worth it. I would be beginning my PT career at age 37 by the time I would graduate... I don't know if its worth it

Any input is helpful. Just trying to get some outside perspectives. Something to think about as I go through school.

 

[DesertPT]

There is a lot to consider and I don't have the time nor the wisdom to give a well thought out response right now, but ultimately what it comes down to is your desire to be a PT. Ask yourself the question: could I see myself being truly happy with my job doing anything besides PT? If the answer is absolutely not, then yes it is probably worth it. If the answer is absolutely yes, then its probably not worth it. If the answer is somewhere in between, then you've got some definite pros and cons lists to start making.

 

[Azimuthal]

GI Bill is only good for 36 months. If you want to go to PT school, I'd hold on to it specifically for PT school.

 

[okramango]

There are a lot of factors for you to consider, but in terms of age, 37 is definitely not "too old" to finish PT school. I lot of people in their 30s go to PT school. Remember you're going to turn 37 anyways, so do you want to be 37 and a PT, or 37 and not a PT? I'll be 40 when I finish PT school and have never regretted the decision (I'm in my second year of PT school). However, I had a different set of circumstances to consider, so you'll need to make that decision based on you and your family's situation. If you're pretty much starting your bachelor's right now, then you do have some time to think it over, since your major doesn't matter to PT schools. Just make sure to keep your GPA up so that PT school stays open to you if you decide to go that route. Good luck! 🙂

 

[PTpro]

I agree with what's been said. I can't say much for the retirement fund situation so, "do you seriously wanna be a PT is the most important question." If you really want it to for it. You're gonna be 37 either way. I'm not a money-driven person so my take is really just focused on being happy on a daily basis and PT is the way I'm going to get that. The money is just a coincidental benefit.

 

[CAphanatic]

I appreciate the responses, just needed some outside neutral opinions on the situation. I've got a lot to think about. I guess a lot can happen in the next four years while I work on my bachelors. So in the meantime, Ill continue doing pre-reqs as they fit in my schedule and if that is the way I go, at least Ill be ready for it.

About the GI bill thing, I'm not using it right now while I'm at a community college specifically for that reason. Ill use it my last 2 years of bachelors, and then be able to have it first two years of PT school, or grad school or whichever way I go.

Again, thanks for input. Its helpful hearing someone outside of my immediate family weigh in.

 

[starrsgirl]

I'm in a very similar position. I would def stuck with the plan of tackling the bachelors, getting all your pre reqs done and seeing how you feel in a year or 2. (Do some shadowing too). I found, coming out of the military, that the job market just wasn't there. I struggled to find decent work even with a masters. So for me, I decided it was worth it to stay out of the job market a few more years for a little more financial stability.

 

[starrsgirl]

I think it also depends on your total financial picture. Does your wife work? Can you afford the daycare of possibly 2 kids? I have 2 kids as well, but hubby works, so we are still staying out of debt while I got to PT school (GI Bill stipend pays daycare). So financially, for us, we aren't creating a debt hole while I'm in school. And we are able to cover all our needs. The plan is for us to sock away almost my entire salary for a few years to catch back up on retirement (yes, I know you can never really catch back up) and build up a good savings again. So we will continue to live on 1 salary and live frugally even after I'm working again.