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p0tus

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About p0tus

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  • Birthday 02/03/1983

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    U of Calgary School of Medicine

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  1. I specialized in anthropology in my undergrad. Now I practice as a family doc. So it is possible
  2. Was his death a suicide? It's interesting that nothing shows up online related to his death and he was quite young.
  3. With regards to pension plans, the BC medical association has such a program which is a defined contribution pension plan http://pages.mdm.ca/1219-CPRSP.html. Not sure if other provincial medical associations have negotiated similar benefits.
  4. With walk-in clinics, one benefit is that you rarely need to take your work home with you. Generally you work for 4-6 hours and are done for the day, since your colleagues take over after you and are generally responsible for any labs/reports that arrive during that shift. The issues are generally straightforward and you can get through patients every 5-10 minutes. I know of some walk in docs who routinely go through 50 patients in a 6 hour shift, for most the average is probably close to 35-40. Now whether the medicine you practice is fulfilling, that's a different discussion altogether. With a regular practice, you have your own patients you are responsible for and have to follow up on labs you order, act on specialist reports etc. You have to cover your own after hours call or find colleagues to cover you. You have to deal with complex patient issues and it will generally take 15 minutes per appointment. During the day you will probably see 30-35 patients. You will like spend 8-10 hours per day doing medicine related work. With complex care billing and time modifiers etc you will probably make $ similar to a walk in clinic shift. Now many would probably say that the medicine practiced in this setting is much more fulfilling, but you will be spending a lot more of your time in clinic and work.
  5. In BC it is $15 for these types of interactions (Billing code 14076). A standard visit is $30-45 depending on the patient's age. Generally phone/fax/e-mail doesn't take more than a few minutes per task, whereas a standard visit can take 10-15 minutes, so it encourages GP's here to do this more for simple issues. I believe there is an annual limit of 1500 such encounters though.
  6. Hey, As others have said, don't stress too much about having to pay back such a big loan. When I graduated from medical school I had about $140,000 in student loans. At the time I remember how scary it was to see that I was paying close to $300/month just in interest payments! At the end of my 2 year family medicine residency I was able to make a small dent of about $10,000 to that original amount. By the time I completed my first year as staff, I had already paid off the whole thing. I suppose if I worked and made some extra money in medical school I could have whittled this down a bit more, but it probably wouldn't have made a significant impact on the length it takes to pay it off in the end. Remember that completing the end goal successfully with your health and sanity intact will yield much greater dividends than stressing yourself out with extra work during the most critical learning stages of medical school.
  7. For BC, 25% sounds pretty standard for the size of the community. Generally, the expected overhead in the middle of a big city (eg Vancouver Downtown) can run from 30-35%. It gets lower the further away and the more rural the community is. In some small communities it can be close to 20%. Unless you worked in that clinic already in residency or you have close ties to that community, I would be wary about committing to such a long period of time straight off the bat. You only start noticing little annoyances months down the road and your practice interests may change as well.
  8. Yeah for me it makes sense to continue tracking spending as I use cash back/points credit cards for most purchases and if I didn't have a known limit I may just go over it and end up paying interest fees which would just eat into any automatic savings done every month. I like ynab because it uses an envelope budget system and you can just enter spending as you go on your smartphone and you can set up how much you want for each category (for example $400/month for groceries, $200/month for eating out etc.) and when you spend money in each category it subtracts that from the original amount so you always know how much you have left to spend.
  9. Great advise from rmorelan. I agree that the basic principles are the same, whatever you read. When I was starting out the hardest thing to do was to keep track of where all the money was going. Creating spending habits to ensure a consistent positive cash-flow is key to achieve this. Its easy to say "spend less than you make" but if you don't know where all your money is going this is going to be hard to achieve. There are a few programs that help keep track of this, like mint, ynab or a good old fashioned excel spreadsheet. Re: investing, it seems like the general consensus is to avoid mutual fund companies that charge high fees and stick to a low cost index funds approach. Check out Canadian Couch Potato for some good info on this. Once your wealth grows (~$100K or more), it may make more sense to start using a fee only adviser to ensure you are properly diversified and creating a tax efficient portfolio. Your ultimate goal should be to create an investment portfolio that generates sufficient annual income that equals or exceeds your total expenses. At that stage you are considered financially independent
  10. For those interested in BC, there is a daily billing cap for clinic patients seen. You are paid the full visit fee for the first 50 patients and half the fee from 50-65. 0 fees above that number. But this applies to only those paid for by provincial insurance. Any work place, car accidents and private pay visits are extra. It also does not include any nursing home or hospital patients attended to. I guess if you really want to spread yourself thin you can occupy yourself with a combination of these work settings for the whole 24 hours!
  11. A good book to read about this topic is called the "white coat investor". It is is primarily targetted towards American students and MD's but I think the principles are still quiet valid for here.
  12. Out of all the different personal insurance products available, I would rank disability insurance as one of the most important products to purchase. Along with the coverage amount, some good questions to ask the agent is if it has an "own occupation rider" clause. Basically means that they will still pay out the insurance if you are disabled and cannot do your trained job but can do something different. Once you start practicing you can look into your provincial medical association for part of your disability insurance payments (in BC they pay premiums for $6K/month of disability insurance). The other question is how long the waiting period is (usually 1, 3 or 6 months). The longer the waiting period is, the cheaper the premiums are but it also means that you would have to wait longer to get the money if you did become disabled. One way to save money on this is to build up a 3-6 month emergency fund and then the waiting period can be longer. Rmorelan's premiums seem very reasonable. I currently pay $90/month for $4000 monthly coverage indexed. The BC medical association pays for $6K/month.
  13. Depends on the how rural the location. When I did my rural family med rotation (less than 3 years ago) in Whitecourt Alberta, the GPs there were doing lap Choles, appes and C/sections with GP anesthetists.
  14. Amongst my friend group, I'll probably say between $120-140K$ debt was the average post med school graduation. Everyone's circumstances are different, but I can outline mine if it may (hopefully) reassure you. Graduated undergrad with ~$20K, ended med school with ~$130K. Paid about ~10K of that during my 2 year family med residency. It's been about 13 months since I started work full-time, and I have about $10K left to pay back. I was single during most of med school, dating my future partner during residency and got engaged last year. She is still in school and doesn't work. No kids. Working as a GP and renting a 1 bed-room apt in Downtown Vancouver. It looks daunting in the beginning, but if you are financially responsible, it can be done.
  15. Hey, I was able to start residency on July 1st even though I received my diploma only in November that year. Your medical school will have to send your program a letter explaining that you will finish school by June 30th, but I doubt it should be a problem for you. Good luck!
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