I recently learned from our mail man/ neighbor that an average physician starts catching up to an average plumber financially (in net worth) at age of 57. 

*While this number isn’t the most accurate, it’s probably quite close to the reality.

The plumber starts working at age 18 vs. a doctor starts his attending job in his 30’s.

The time value of money put into retirement accounts starting at age 18 is WAY more powerful than that starting at age 38

+ Tremendous high interest snowballing student debt the doc accrues from age 18-early 30’s

+ Heavy taxes when the doc finally gets a real paycheck

=  “doctors are wealthier than plumbers” is an illusion.

Most doctors love their profession, but far too many get burnt out from their perpetual struggle to build wealth from a -400k financial start in their 30’s.

Most of us choose medicine/higher education in general because it is our calling/ passion, not for the money. But it doesn’t mean we have to or want to be broke.

This blog aims to assist those who have

dedicated their energy and youth

to expensive and long education

thrive financially.

Tales of the physician and the plumber.
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