Is Becoming a Doctor Worth it for the Money?

Is Becoming a Doctor Worth it for the Money?

Well, the straight forward answer of your question is that – NO. Becoming a Doctor is not at all worth it for the Money. Once upon a time (Before 1990), it was worth to become a doctor. But not after that.

This is because of the long study years and huge Educational expenses to become a doctor. I don’t know about the western world but right now I am talking about India. Once upon a time the education cost of becoming a doctor was almost Nil because everything was funded by Government. But now, if you want to become a doctor than first of all you will have to study for 12-15 full years plus you will have to spend lots of money to become a doctor as well as taking huge educational loans to become a doctor.

And after spending and borrowing lots of money, you will be able to enter into the real field only after the age of 30 years. Sometimes after 33. Now, during the same time, those who have not taken this field would have developed a successful Business and developed multiple Passive income streams.

And this is the Information age. So it is possible to get rich at the speed of light because of the Internet Businesses. Just think that, if someone starts his Internet Business at the age of 25 years and you starts earning as a doctor after spending and borrowing lots of money at the age of 30 years than who will be rich at the end? Of course, those who started early.

In short, becoming a doctor is not at all worth for the money. Because doctors just fall into the high income/low wealth accumulation groups. Means they earn high but pay most of that money into the tax and thus they fail to accumulate serious wealth. While Business owners and Investors make money in their Businesses and Investments and thus they pay very less in taxes (Almost one tenth or even less than a doctor) and thus they get rich faster.

However, I myself is a Doctor and I love Medical Field. I have chosen to go in this field not for money because I can make money from other Businesses in my life. But I love this field because it’s a Nobel field.

As far as it is the matter of money, I can make lots of money from doing Businesses and Investments. But I can do noble work by becoming a doctor only and this is why I chosen to be a doctor.

If you are talking about Medical field in worth of money than it’s not worth in comparison of the amount of time, money and energy you spend behind this field in terms of financial rewards…!!!