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- Aug 9, 2012
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At the wealth level of a typically doctor you can afford anything but not everything. If you want a boat, you can get a fancy boat. If you want a prop plane, you can afford a plane. You want a million dollar house, you can make that work. You want to have 4 kids and put them all through college on your dime, it's doable. You want to travel business class and only stay at the Seasons 3x per year, that can be done. What you cannot do is several of the above list or any other use of significant cash.You’re an attending and you can’t afford a 60k vehicle?
This is compounded by seeing your colleagues on social media, one is boating on his $500,000 boat, another is in his brand new architectural digest home, another is floating over the water in boogaloo in Maldives and another is eating at a 3 Michelin star restaurant. Your brain can quickly feel like you can/should be doing these things too and that's where doctors get into trouble. We as a profession are notoriously terrible with money due to the late start we get on earning our high salaries ("I deserve this Model S plaid for all those 80 hour weeks...") and society expectations for what a doctor can/should be affording (see your post as example A). You can/will live very well on 80% of your salary, saving 20% (gross) for retirement after you pay off any/all your student loans.