Why is there a stigma attached to wanting to own "fancy cars" on SDN?

[WedgeDawg]

What field can I get into that would afford me a luxurious lifestyle?

Private practice cash only cosmetic dermatology in a good market area

Something in private equity

Movie or TV star

Retired NBA/NFL player with ad contracts

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[MedicineZ0Z]

Private practice cash only cosmetic dermatology in a good market area

Something in private equity

Movie or TV star

Retired NBA/NFL player with ad contracts

More like concierge medicine with strong marketing (ex. running the social media hard) to maximize the annual fee. Just being realistic.

 

[ComputerGuy365]

There shouldn't be, as most people who go into medicine are not in it for the money.

 

[MedicineZ0Z]

There shouldn't be, as most people who go into medicine are not in it for the money.

No reason why you can't love medicine and love money. I have zero respect for people who think money is "bad" if you're in medicine and have met doctors who share my mindset.

 

[fancymylotus]

What field can I get into that would afford me a luxurious lifestyle?

Teeth


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[Instatewaiter]

What field can I get into that would afford me a luxurious lifestyle?

Investement banking

 

[Kurk]

Investement banking

For normal people who didn't graduate from Harvard

 

[ZedsDed]

Why is this thread still a thing? Not complaining, just asking.

 

[ComputerGuy365]

No reason why you can't love medicine and love money. I have zero respect for people who think money is "bad" if you're in medicine and have met doctors who share my mindset.

I'm not saying you can't love both, I'm saying is that you can't do it just for the money. If you love both, then great.

 

[SitraAchra]

Why is this thread still a thing? Not complaining, just asking.

It's not.

 

[Optical Illusion]

At this point you should be focusing on your immediate future. If you get into a high paying surgical specialty 13+ years from now then perhaps you might be able to get the "fancy" car you want. But first you have to be accepted to medical school and most adcoms will not be impressed if your main motivation for pursuing medicine is to get rich and drive "fancy" cars.


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[VeterinaryStudentK9]

You have to keep in mind that by not spending money on an expensive car, you can invest it, grow it over 10-15 years and buy an even nicer more expensive car in the future. The opportunity cost is massive.
You also have to keep in mind that self-driving electric cars are very close on the horizon. They will probably be ubiquitous for those earning a doctor's salary by the time you graduate. Buying an expensive petrol car at the tail end of an era would be a hilariously bad investment.
You talk about cars as if they are a hobby, but you can't open up a lambo on the city streets, you have to take it to the track. If you're going to the track it'd probably be a good bet to just rent one for the day and leave the depreciation, insurance and maintenance costs for someone else to take care of. This way you can also tailor when you can and can't afford to drive a lambo depending on unforeseen circumstances.
And take what the established doctors are telling you about the impact buying a lambo would have on your professional image, career prospects and thus ability to afford to buy a new one in the future.
If you want to buy one, go ahead, but do so in full knowledge of the sacrifices you are making.

 

[Kurk]

You have to keep in mind that by not spending money on an expensive car, you can invest it, grow it over 10-15 years and buy an even nicer more expensive car in the future. The opportunity cost is massive.
You also have to keep in mind that self-driving electric cars are very close on the horizon. They will probably be ubiquitous for those earning a doctor's salary by the time you graduate. Buying an expensive petrol car at the tail end of an era would be a hilariously bad investment.
You talk about cars as if they are a hobby, but you can't open up a lambo on the city streets, you have to take it to the track. If you're going to the track it'd probably be a good bet to just rent one for the day and leave the depreciation, insurance and maintenance costs for someone else to take care of. This way you can also tailor when you can and can't afford to drive a lambo depending on unforeseen circumstances.
And take what the established doctors are telling you about the impact buying a lambo would have on your professional image, career prospects and thus ability to afford to buy a new one in the future.
If you want to buy one, go ahead, but do so in full knowledge of the sacrifices you are making.

I dread the day we run out of gasoline. Forget the Lambo, I love classic cars and classic American V8s. Whether it be an old Roadrunner or a Chrysler Newport I have an appreciation for the period of American history when cars allowed people to express themselves and not just serve as transportation from point A to B. Yes the Lambo is nice as a track car and for road rallies but there are associated costs and depreciation with owning one. I've said it before and I'll say it again: I would only lease a new exotic because of the depreciation and long-term costs. As far as investing, I've got it. I'm going to minor in finance/business. I'm not wasteful with money.

I like working on my own cars as much as possible. Unfortunately newer cars are becoming increasingly complex to work on and just aren't built for the long-term anymore with sealed-transmissions and such. I know I have to move on from the past, but I grew up around cars and just recently was put into a position which allows me to finally drive and work on them. It scares me to think that gasoline could run out or become ridiculously expensive in the next 50 years. This is by-far my biggest hobby and the one I have the most passion for. Without it, a big part of me dies. It's sad that I see very few people my age at car auctions and car shows; It's all middle-aged and older men.

On the unrelated and bright side, I recently received great advice from the parents of top 20 med school graduate who is now in an emergency surgery program in a large city. What was really touching aside from the fact that their child was able to score in the top 2% on the MCAT (great advice on this as well) and graduate at the top of his/her class was the fact that they came from a family of farmers. It was very inspirational and gave me a boost in motivation which has been sucked out of me by some of the pessimistic responses on here.

 

[schmoob]

OP, my advice is to buy a used car in good shape. Put it in your parents garage and don't look at it until you finish undergrad, med school, internship/residency/fellowship. When you're done with all of that, BAM! You are the proud owner of a "Classic Car."

I need to spend more time in these threads.

 

[Kurk]

OP, my advice is to buy a used car in good shape. Put it in your parents garage and don't look at it until you finish undergrad, med school, internship/residency/fellowship. When you're done with all of that, BAM! You are the proud owner of a "Classic Car."

I need to spend more time in these threads.

Or I just do the same thing with a used, border-line classic car with lots of potential—say like an older Porsche 911. I can pick it up for about 10-12k from the dealer auction, let it sit in self-storage (my parent's garage is full and I won't let it sit on the driveway ), and if the market does what it should, the Porsche should be worth at least double for what I got it for depending on condition.

Honestly, if you know the market, collecting certain cars is equivalent to money sitting in the bank with interest—sometimes more.

 

[schmoob]

Or I just do the same thing with a used, border-line classic car with lots of potential—say like an older Porsche 911. I can pick it up for about 10-12k from the dealer auction, let it sit in self-storage (my parent's garage is full and I won't let it sit on the driveway ), and if the market does what it should, the Porsche should be worth at least double for what I got it for depending on condition.

Honestly, if you know the market, collecting certain cars is equivalent to money sitting in the bank with interest—sometimes more.

There. Now you got your car fix.
Now use your money and make wise investments, this way you can have disposable income at an earlier age. Cars are not a wise investment. Especially if you are looking at collecting them.
I thought I knew what I wanted when I was in high school too. Listen to the folks on here, they've been in your shoes, you've never been in theirs. They have age, wisdom, and experience over you.
And as far as never wanting a family, never say never. When I was 17 I was all about having a good time, and I LOVE cars. Now I'm typing you this message with one hand on my phone while I hold my daughter's hand as she falls asleep holding my other hand. And I really don't care about the car in my driveway.
This is a place to seek guidance and mentorship, not for a 17 (I'm assuming 17) year old to try to convince attending physicians, residents, or even med/dent/vet students why your reasoning is right despite their advice.
If money is your goal, keep studying, kick butt in undergrad, get into a top 10 MBA, network, and live it up. You will get to where you want to be financially much quicker.
Good luck.

 

[Monkey.King]

My goodness why is this thread stil open? If he wants to collect cars for whatever reason let him. 264 posts and he still has the same thoughts as his opening post, so some people just can't be persuaded. This thread isn't even about medicine. Why is there a stigma to wanting to own "fancy cars" on SDN? Because people here assume that any thoughts related to something requiring big money that aren't necessities in life seem to think you only want to be a doctor for money. I can't believe this thread went through 6 pages of nonsense for a simple answer like this.

my car hobby—the only thing I am passionate about next to working out and maintaining good health.

The number 1 rule of becoming a doctor is having some type of medicine related passion or experience that drives you, so you won't be miserable for the rest of your life. And he says this.

And in another thread of his regarding how much of your health do you sacrifice for medicine. That's reasonable. But honestly, there are people who sacrafice nearly everything they care about to become a doctor. You have to sacrafice years of being devoted to medicine just to get into med school, and even more to become a doctor. The majority of premed sacrafice sleep, friendships, and relationships with their other in order to get into med school and even while being a doctor. Yet his main concern is still being able to go to the gym. As if the gym was the only way to stay in shape or maintain good health. And if he won't have time for that, he is willing to rework his career choices all together. And the guy is still in highschool thinking 10+ years in the future. There's nothing more naive than a teenager thinking they have their life all figured out and can't even get their own car insurance.

Just because he's in highschool doesn't make him the exception to this.
:troll:

Hello SDN. This is my first post.

So here's my situation:

I'm currently a high school junior at a competitive private school. I was a B student during my freshman and first-half of sophomore years; now I'm an A student. Any past feelings of apathy or lethargy are gone.

I now put all my energy into pursing a career path which will yield a large amount of wealth, status, and fulfillment. In other words, if I won the mega-millions lottery tomorrow or ten years from now, I would still pursue a profession because I'd feel as though I didn't earn the right to all that money.

Let's cut to my concerns for medicine (in order from most concerning to least):

#1) The future of medicine as it pertains to the rise of government subsidized health-care

- I've listened to hospital administrators and physicians through my school's entrepreneurship club, and they all agree that Obamacare has had a detrimental effect on the field as a whole.
- Physicians also state that medicine isn't what it used to be with the increasing regulations, lack of independence, decreasing salaries, etc (you probably know more about this than I do).
- Ideally, I would've wanted to bust my tail to get into a good med school, bust my tail to get into a good specialist residency and eventually start my own practice after gaining enough experience.
- Correct me if I'm wrong, but it seems as though the reimbursements for specialists is decreasing as we try to fulfill the demand for primary care physicians.
- This in turn is discouraging to a person who wanted to combine his great business mind with the fulfillment of medicine.
​

#2) The degradation of medicine as a profession in general

- This short video best summarizes my feelings:
- So in short, (please don't take this as an insult) it seems as though more and more "average intelligence" people are being accepted to medical schools.
- Like Huckabee said, if the brightest people know they can make a lot more money nowadays than the average physician (taking into account debt, malpractice, etc) by going into finance, they'll just do that.
- Those empty spots are then filled by "average" people who in the end become pawns to the system.
- Practicing medicine is an extremely noble profession, but if I know that people are going to try to take advantage of my compassion, I'd be smart enough to be that "business guy" instead.
- I apologize if I sound paranoid or something to that extent.
​

#3) Decrease in salaries

- I'm assuming this mostly applies to specialties, but I could be wrong.
- This really pertains to the aforementioned concerns
- Let's be honest, if you're a PCP who is being compensated not all that much more than a CNP (again taking into consideration the debt, increased stress, etc), would you honestly still become a doctor if you had half a brain? Probably not. And if you said yes, I think you're a great person for being so selfless but the majority of human beings don't think like that and those people usually are taken advantage of by others.
​

When it comes to me:
- Yes I would enter medicine for the money; again money without fulfillment is meaningless to me.
- I'm fairly well rounded when it comes to my school curriculum; I don't find one subject to be particularly challenging or less interesting.
- I think I'm a very malleable person; meaning I know I could succeed in law or business school as an alternative if I put my mind to it.
- I don't believe the arbitrary "do what makes you happy" saying. I will be happy doing something where I make good money while still living a life of significance.
- I'm more of an introvert, however I'm competent when it comes to communicating with people, public speaking, etc.

The money aspect:
At this point (if you've made it this far, thank you) you're probably thinking this kid is arrogant and wants to go into medicine for the wrong reasons. That could be true, maybe not. I've been seriously considering medicine in addition to law and business in the back of my head for years now. I've had exposure to all (hospital volunteering, mock trial, family business, CNP mother, etc). I hope to shadow a physician in the near future.

I'm going to give you my perspective on being a physician in my ideal world:

Accepted to med school: four years of busting my tail to get into a good residency

During or after med school (may not be compatible with future plans): Take advantage of the programs offered by the armed forces where you serve as a medical officer for two years give or take; in turn they pay for a good chunk of your debt.

Residency (presumably a selective specialty): Bust my tail for 3+ years on minimum wage pay to gain experience; drive a beat up prius; live in the projects aka misery etc.

Fast forward to ideal end point: I am now 35 years old with my own interventional radiology clinic in a rural/suburb like state. I'm making 300k plus though still working like a dog.
I've decided to remain celibate and abstain from a relationship for the sake of putting all my energy into my career (At the very least I wouldn't have a family for sure). As the old saying goes, "if you want to be a working parent, pursue X. If you want to be a doctor, be a doctor." <--- (we can elaborate on this some other time)

You could call me a workaholic to say the least. I'm living in either a small house or a nicer apartment despite me now being an established physician. There is one (or a few) thing however which keeps me ticking other than my toxic ambition: My brand new (circle one) Porsche 911/Lamborghini Huracan/Ferrari Italia/AMG S63 sitting in the garage (on a lease of course).

Wasn't it obvious from the get go?
Actually, I don't think this guys a troll. I think he's an ambitious person who goes to make it big in life in whatever he does. And honestly, I couldn't care less about his reasons for what he does because it has absolutely nothing to do with me. But it has to be said. He's been here long enough to know the general consensus of the ideas of people around here, and yet he continues to say the things he does. Nothing wrong with speaking your mind, but again, something has to be said when it gets to the point of 6 pages of something that has nothing to do with medicine. And from a guy who doesn't seem to have a passion for what this forum is dedicated to. And it pains me to see that he actually comes off as disrespectful to people of the profession based on some of the things he says. Sometimes you need to put a filter on yourself.

And come on

Man if I'm going to be the tax burden of tomorrow I can't imagine what my classmates will be! They constantly spend hundreds of dollars on multiple pairs of fancy new shoes, smartphone plans, and eat out at Chipotle for lunch almost every day. Meanwhile I go to Goodwill for clothes and a few other items once I find that duct-taping my shoes can only go so far. In my free-time, I'll go on Zillow and find the cheapest, most reasonable apartment within the area for both college and for my own fantasies of living frugally. I don't need to be this cheap, I come from a middle class family where money isn't an issue thankfully, yet I choose to do this because I'm not content living the life of an average suburban person. The money saved from "the small things in life" will eventually go into compound interest accounts and into funding my car hobby—the only thing I am passionate about next to working out and maintaining good

You go to a competitive private school. And in most cases, where you go to highschool pretty much has no affect on college admissions because where you go to highschool is generally due to your parents. Unless you went to some run down school in a hood or area with high poverty rates. All you seem to care about is money. And yet you say you go to Goodwill for clothes and ductspe your shoes.
Among other ridiculous things you've said in this thread that I won't quote because I feel I've said enough, I'll say one more thing. I take what I said about you not being a troll back.

And again folks.
:troll:
Now where is that report thread button

 

[Kurk]

I've had enough of this. Lock the thread moderators.

 

[deleted407021]

You should call your next thread, "Why is there a stigma attached to stubborn HS kids with no perspective on SDN?" and see how many pages it gets to before you ask in a rather arrogant manner for it to be closed.

 

[jeffk805dent]

this thread is full of win

 

[schmoob]

I've had enough of this. Lock the thread moderators.

Are you barking orders at the mods?
And you mentioned being in the military? Good luck! With that attitude you will do quite poorly. I would not recommend it for you. You will hate your life. And no, it's not 2 years give or take. It's 5 minimum with no residency.
I recommend you take a step back from yourself and do some self-reflection.

 

[I'm No Superman]

Right now I'm rockin' the 09 civic, hopefully that bad boy'll keep me going until I can afford something nice in 8 years or so.