What is the Cost of Becoming a Doctor?

Well, I am not talking about the total expense for becoming a doctor. I am talking about How much total financial loss you can suffer just because you start investing 10 years later than other people in your life.

As all of you know that, a doctor can’t start earning before the age of 30 years. This is because of the long medical school life span of 10 years. Now, Have you ever think that, How much wealth loss it will cost to you if you become a doctor?

I am not talking about the educational expenses. I am talking about the loss of wealth because you start 10 years late than other people.

Well, let me explain you this by one example. Say for Example, You are in a medical school and one of your friend is not in the medical school. Now, your friend starts his own Internet Business (Or any other Business) at the age of 22 years. You just start earning 10 years late means at the age of 32 years because you think that by becoming a doctor and taking a speciality degree you will earn more.

But well, Doctors are High Income but low accumulator of wealth group of people. A Doctor can earn high but can not accumulate more wealth. And there are several reasons for that.

- During the first few years of life he/she has to pay those higher educational loans. Once he repay all of his high educational loans, he will be around 37 years old if he had started making money at the age of 30 years. Another thing is that, a doctor has to live high status life style and that’s why his expenses will be also high. So he will accumulate less.

Now, just think that, your friend has started building wealth at the age of 22 years and you start building wealth at the age of 37 years. And if you are a regular reader of this blog than you know that, How Powerful the Compound Interest is? Your Friend who has started his own Internet Business at the age of 22 years will surely retire or semi-retire at the age of 37 years when you really start accumulating wealth. Yes, The Compound Interest is this much powers. It has direct relation with time. If you want to know the power of compound interest than simply go to the “Compound Interest” Category of this Blog. You will realize that, how powerful the compound interest is.

Thus, there is a huge financial cost of becoming a doctor.