What do you want to do after you're settled in with your MD

[parto123]

Fine, but even if we're not talking about throwing your money to the proverbial stock market wind, you can make money (maybe not the highest yield possible) and be able to enjoy having a hand in managing your money rather than trusting it to someone you'll never meet.

That’s cool as long as one realizes that he is doing it entirely for the fun and excitement, much like any form of gambling. Just in this case, “losing” means doing worse than you would have if you left your money in an index (and there is no need to pay any manager fee, you can just leave it in an ETF index).

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[blz]

You're always so quick to shoot down everything. I know you're just trying to be the resident realist here, but sometimes the things you say are just plain absurd.

I've noticed this too about Law2Doc to the point where I can't stomach his posts anymore.

 

[parto123]

I've noticed this too about Law2Doc to the point where I can't stomach his posts anymore.

You picked an odd thread to note this, considering that he’s, without a doubt, 100% correct on this thread. It sounds like youd rather be happy than knowledgeable.

And on a message board where the majority of posts fall on the overly positive, often unrealistic side, I don’t see why people mind having a few voices of reason to keep expectations in check. I know its no fun to having your parade rained on, but id say giving useful accurate information is more helpful than just trying to ensure that everybody feels good about themselves and their choices.

 

[Doublecortin]

I've noticed this too about Law2Doc to the point where I can't stomach his posts anymore.

yeah, i agree, l2d is a really smart dude/gal who knows a lot about how things done in the "real world" but it's just one person's opinion and even the smartest/wisest folks are occasionally wrong.

 

[Doublecortin]

You picked an odd thread to note this, considering that he's, without a doubt, 100% correct on this thread. It sounds like youd rather be happy than knowledgeable.

And on a message board where the majority of posts fall on the overly positive, often unrealistic side, I don't see why people mind having a few voices of reason to keep expectations in check. I know its no fun to having your parade rained on, but id say giving useful accurate information is more helpful than just trying to ensure that everybody feels good about themselves and their choices.

that's not the point, if you want to be a mover-and-shaker, if you want to make it really big, you have to think big, sure you want to have a firm grip on reality, but my point is, if you always think in terms of averages and don't dare to think outside the box and to think/dream big, then, well, you'll end up being average. I guess some of us won't be happy being average

 

[nacho libre]

Well sure. But this isn't a discussion of "fun". It's a discussion about sound investment practices. And for the professional with limited time, limited business education and limited experience, you aren't going to beat an index.

it is? the guy originally said he wants to learn how to invest when he's settled in. i personally took it to mean he wants to "give that investing thing a try" not necessarily that he wants to make the most amount of money as efficiently as possible. it seems you turned it into a discussion of beating an index.

i can think of tons of examples in life where it's much more "sound" to hire a pro but most people end up sporting a do-it-yourself attitude for a variety of reasons

 

[McMD]

Trophy Wife.

 

[SexySurgeon]

and start my own porn company.

What exactly do you look like, McDreamy?

 

[SexySurgeon]

Trophy Wife

Or trophy girlfriend...

 

[meister]

I am going to do whatever it takes to pay off my student debt as soon as possible.

 

[skee lo]

I'm going to spend all my time working and working out. I would like to coach high school track on the side if my schedule will permit me to do so. Which it probably won't.

 

[SomeDoc]

I want to open a restaurant with my future wife!!!
I don't know much about the workings of it but I know it is a lot of work but seems fun.

I cannot count the ways in which this is more time consuming than working as a physician. Restaurant business is a LOT of work.

 

[kdburton]

I am going to do whatever it takes to pay off my student debt as soon as possible.

See this is something that people who post on SDN never put much thought into. Assuming you're not taking out a bunch of private loans, the interest rate on most federal student loans is going to be somewhere between 6.0% and 6.8%. Depending on where you live [or plan on living], the interest rate on your new house has a good chance of being higher than that on your student loans (assume you're doing a 30yrs fixed rate mortgage). Also, any car loan you take out is almost always going to be higher. Pretty much any kind of debt other than student loans themselves are going to be more expensive than student loans. With that said everyone should really be saying "As long as I have other high-cost items that I am currently financing, I'm going to do whatever it takes to pay off my student loans in the most amount of time possible." Furthermore, you have a better chance of making a higher ROR on well-diversified investments in the stock market and other securities than the interest rate you'd be paying on your student loans, so every dollar you use to pay off low-interest rate student loan debt is one less dollar that you could be earning potentially higher interest rate on in some form of investment.

 

[UMED122]

Furthermore, you have a better chance of making a higher ROR on well-diversified investments in the stock market and other securities than the interest rate you'd be paying on your student loans, so every dollar you use to pay off low-interest rate student loan debt is one less dollar that you could be earning potentially higher interest rate on in some form of investment.

Is that really true though? I think the guaranteed (if there is any such thing) return on "safe" investments is more like 6% at best. If you're going for anything with the potential to do a lot better than that you also risk doing a lot worse, especially now. Correct me if I'm wrong though.

 

[Doublecortin]

See this is something that people who post on SDN never put much thought into. Assuming you're not taking out a bunch of private loans, the interest rate on most federal student loans is going to be somewhere between 6.0% and 6.8%. Depending on where you live [or plan on living], the interest rate on your new house has a good chance of being higher than that on your student loans (assume you're doing a 30yrs fixed rate mortgage). Also, any car loan you take out is almost always going to be higher. Pretty much any kind of debt other than student loans themselves are going to be more expensive than student loans. With that said everyone should really be saying "As long as I have other high-cost items that I am currently financing, I'm going to do whatever it takes to pay off my student loans in the most amount of time possible." Furthermore, you have a better chance of making a higher ROR on well-diversified investments in the stock market and other securities than the interest rate you'd be paying on your student loans, so every dollar you use to pay off low-interest rate student loan debt is one less dollar that you could be earning potentially higher interest rate on in some form of investment.

well said,
that's why medical schools need to educate future physicians about the basics of finance, investing, and managing one's debt

 

[kdburton]

Is that really true though? I think the guaranteed (if there is any such thing) return on "safe" investments is more like 6% at best. If you're going for anything with the potential to do a lot better than that you also risk doing a lot worse, especially now. Correct me if I'm wrong though.

It is guaranteed that you're going to be spending between 6-7% on your student loans, so you're correct that it may be relatively "unsafe" to invest in something other than a savings account at your local bank. On the other hand if you look at historical returns for many mutual funds or index funds you'll find that many of them have performed better than 6-7% over the long haul. Of course there is always a chance that the market will crash or there will be another dot.com'ish bubble that pops, but I know that I'm going to take my chances

 

[badasshairday]

host bottomless parties.

 

[gopher22]

Say you get a hundred or so traders together and ask them to guess whether a stock is going up or down in the next few days. Half say up, half say down, and you only invite the correct ones back the following week. You ask these traders the same thing about the stock's subsequent performance and repeat the elimination process. After about six weeks you have one guy left who's judged the market right every single time. What do you have? A genius, clearly.

 

[dienekes88]

Actually, I think you might come up with David Swensen... except he has been doing well for more than 6 weeks.