Cost Analysis of Becoming a Doctor

Cost Analysis of Becoming a Doctor

Let us today discuss that How much it costs to become a Doctor? Well, See. Medical Study is a decade long study and sometimes even more. We will discuss on the financial point of view here and not any other view angle.

Well, See. Suppose a student joins Medical school at the age of 18 (In India) or 22 (In USA) and at the same time, if someone belongs to the same age group start his/her own Internet Business (Or Any other Business) at the same age than the person who started his own Business (& Investments) will be much more financially ahead than a doctor.

This is because a Medical Student has to take huge Educational loans. And the second reason is a doctor starts earning money in his thirties. And according to financial point of view, it is too late.

Remember, It is better to start early (Earning, Savings & Investing) than earning a lot in the later life.

A Doctor starts making money in his thirties and first of all he has to repay all of those educational loans which he had taken to take a medical education. Thus, a doctor starts accumulating wealth probably in his late thirties. Which is Too late.

And during the same time period, someone who started his own Business could have become a Millionaire, Multi-Millionaire or even a Billionaire…

The Compound Interest is so powerful over the time that only a few years of difference make a huge difference in wealth later on. Doctors fall under High Income but Low Net Worth category of people. Doctors earn high but at a same time they pay more in taxes and thus able to accumulate less wealth.

Thus, Becoming Wealthy is your one and only goal than becoming a Doctor is not a wise financial decision…!!!