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distressedpremed

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distressedpremed last won the day on May 22 2016

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About distressedpremed

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  1. Quick question for the Scotiabank Reps here. @ScotiabankMedsAdvisorLOC I switched from the old passport gold to the new passport infinite. I noticed in the fine print, terms and condition #1: https://www.scotiabank.com/ca/en/personal/credit-cards/visa/passport-infinite-card.html (see below). Based on what I've read, I'm not eligible for the bonus points because I switched from an existing card? "To be eligible for the 25,000 bonus Scotia Rewards points (the ‘Offer”), you must have at least $1,000 in net purchases (purchases less returns, refunds or other similar credits) posted to your Scotiabank credit card account (“Account”) in the first 3 months from the Account open date. The bonus points will be credited to the primary cardholder’s Scotia Rewards account within 5 to 10 business days after the first 3 months has passed, provided the Account is open and in good standing. Offer applies to new Accounts only opened by October 31, 2018 (the “Offer End Date”). Offer applies only to new Scotiabank credit card accounts approved by the Offer End Date. Former or current Scotiabank credit cardholders that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account are excluded from this Offer. Offer may be changed or extended and cannot be combined with any other offer."
  2. distressedpremed

    Worried About Debt

    It's ok dude. Just do some research - the average medical student debt, from previous reports (might be out dated) is around 120 K. Quebec schools and manitoba are cheaper. Most people are not too worried about 120K. You're already doing great if you're less than 100 K, and if you're below 60K I think you're in the 5% minority. So yes, you can splurge a bit or you can focus on repayment as quickly as possible during residency. Other costs that are hidden include electives and applying to CaRMS, which usually adds around 6-10K. Do a forum search with "debt" as the key search term and you'll find more information.
  3. distressedpremed

    Worried About Debt

    To put it in perspective quite honestly, I'm very frugal and save a lot of money. 30K I would be done paying on top of living expenses by PGY-2. So yes, you should be fine. Start looking into investment opportunities if you're serious about having that low debt - you should be in a good position to leverage against the market long term.
  4. I would agree with Hanmari above. I think if you have done your research and taken a look at other links and posts in the forum, I don't think many people are "happy" per se with their choice in medicine as a career during residency and afterwards, but are content with what they have after such a long road to get to where they are. The problem becomes as maybe people put it, once you start accumulating debt it's very hard to pay off and with little other alternatives that push you forward. For instance, if you quit medical school without matching, there are few careers that may lend itself to the "potential" salary of a physician. That keeps people in the game. If you're an engineer, accountant, pharmacist before med then you have some options for potential income if you choose to quit or forgo the match. The MD degree itself, once obtained, is practically useless - it only allows you to graduate into more training. It does not have any other utility. The problem lies in CaRMS, where that really determines the type of medicine you're allowed or want to practice. If I had to choose again, I don't think I would have necessarily done medical school - it would prefer potentially better hours and equal stress becoming an accountant or engineer. You are smart to think of this critically. I may have 5-6 more years to go including fellowship, and I'm a resident - this has really been the journey of 12 years and more. It is really a marathon and sometimes it is really, really hard to keep going. Other residents and staff will echo my thoughts here, and I think it's important to examine if you're going to be ok starting the race with limited to no chance of stopping for this length of time.
  5. distressedpremed

    Attrition rates for each medical school?

    I think if I won the lottery I wouldn't quit residency (I do like the field I'm in), but the pressure for success/accomplishment/worrying about the job would be completely gone. I would be able to worry much less about scoring a job, lest one that has OR time. Too bad it's hard to even afford the weekly tickets on a resident salary
  6. For knowledge, I think (and again, I don't necessarily agree with this) that people don't value knowledge as much sometimes (see above). I think that sometimes having too much knowledge, you may unconsciously be one-upping a resident inadvertently. With more clinical knowledge you might feel to be more helpful, and try to take on more work (but in the process, may be overstepping an invisible boundary on someone else's ego). Again, fine balance that differs from place to place and who you work with. Fit and likeability, and work ethic are probably the top and most important factors. Maybe Nlengr has more advice in regards to this.
  7. I think this is something I wish I learnt a bit earlier, but I agree with Nlengr. I think "likeability" and work ethic comes before knowledge/research. I am never completely sure if this is the right way of doing things. Sometimes personalities don't mix well. Sometimes people might be a bit socially "different" compared to others, but still might be very smart or accomplished. There aren't as many people unfortunately who see beyond that, and with two week elective gaps "a bitter taste lasts longer than a sweet one" there isn't a lot of time to get to know people better. Meaning that people usually remember more on how you didn't fit or didn't like you compared to your strengths. When the competition is tight it may come to that on who people decide to interview or not, especially for small programs. It's also dependent on who you know - if a family member is a member of the community that you're interviewing in, I think it does play quite a large role. They can be seen as an extension of that person, and not offering an interview might be considered offending that individual. Again these are just observations of my own. I'm not sure if there is a better way of doing things, and I personally think there are weaknesses to the current system, and may contribute to the grander CaRMS situation we are experiencing today.
  8. If you have the passport gold already, can you upgrade to the infinite?
  9. distressedpremed

    2018 CaRMS Second Iteration Interview Thread

    Agree completely. I feel that I should be refunded all, if not a portion of money for repeating applying 2 different weeks at a time, after being rejected for your first application. As you apply for more electives and you secure more, then "last few weeks" to find a school with that particular time slot available in your specialty can be really costly. I understand that there is a cost to running systems and this electronic portal, but the application fee should not be kept at all.
  10. http://healthydebate.ca/opinions/should-we-embrace-a-return-of-the-rotating-internship In the words of the infamous Brooksbane, wherever he is now: "The return of the rotating internship will be meaningless unless general licensure is awarded with it. The entire problem with the system now is that in order to practice general medicine, one has to “specialize” in family medicine. To do so is a career dead end, so students opt to specialize instead. In the time before CaRMS, all graduating MDs were awarded a general license after completing a rotating internship. These doctors were then free to apply as many times as possible for specialty positions if they desired. Most did not want to re-train, and so the public’s access to primary care was better"
  11. distressedpremed

    When to use tuition tax credits?

    Not going to quote that amazing bit of information. Many thanks to you, good Sir R - for the advice and wisdom!! So basically if you could, you would just start off with vanguard through Questtrade then - buy and hold, don't need to rebalance For instance, Vanguard Growth -> set to maximum, and make regular contributions if possible.
  12. I would definitely love to live in Nova Scotia and potentially practice there as well. But I think a lot of individuals not from there (and from other posts in the forum) say that the tax rate for physicians/dentists are higher than the rest of canada, not to mention a very high sales tax, that is often a big deterrent from people migrating there to practice. However, I think for myself, if there was a job opening for my specialty at the end of my training I'm happy to move almost anywhere in canada.
  13. distressedpremed

    When to use tuition tax credits?

    Yeah - completely agree with R on this one. Ultimately I'm being a bit of a wimp haha, when I could be doing more. However, my rationale is that eventually the money will need to get paid. I don't mind spending 5-10 K on investments in residency to learn (that is ideal). But I think the BoC will push prime up to around 4% (so around 3.75%) and I could have saved more (like 30 K this year) if there wasn't so many unforeseen expenses. For instance, equipment is so irritating - our faculty/program won't offer any help in regards to that, so that was around 5K gone. Then the LMCC exams and the tuition fee for basically nothing. Then conferences with no external funding. Then study resources...US exams...etc. Ultimately it's good to have cash growing, I know time in market is key, but day-to-day sometimes things come up that are just tough to get around. My magic number is that when my LoC is 80K then the amount due per month to the bank just to pay down interest won't significantly impact my lifestyle and training costs, where if it went up now it would hurt it significantly. Have to save for fellowship applications and electives as well. Rmorelan, for the area highlighted above - I thought that wealthsimple was better for low investment amounts (ex. small TFSA for learning) compared to using Questrade directly? I mean you could throw it all into the new Vanguard fund and it could be the same, but I remember reading somewhere that for amounts less than 500K it's generally better to just use a roboadvisor to start (and you can transition to vanguard/questtrade later as staff). Not sure and would love your opinion.
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