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shematoma

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  1. The terms and conditions don't say anything about needing to use the LOC, just opening it is enough for the $500 bonus.
  2. I'm in a bit of a dilemma. I'm strongly considering a transfer to family medicine in the 2nd round of CaRMS this upcoming year. But I can't get an FM elective scheduled early in the residency year (before even the second round of CaRMS). My program has asked why I care if my FM elective is early in the year. I haven't told them the truth. Is it ever a good idea to tell your program the truth about these things? What if they don't give me an early enough elective in the year? I feel it might be important to get an FM reference letter and have the elective on my record.
  3. The iPad retails for $429. You can get the bank account without the LOC, but with the LOC you get the account fees waived without a minimum balance.
  4. As of today, MD Financial still issues LOC via National Bank. You can get a $500 bonus if you sign up with them. After the acquisition closes, your LOC would still be with National Bank. You can then switch to a Scotiabank LOC with a new application, and MD Financial can help you with that. The big difference is that National Bank doesn't give you access to the full LOC all at once, they do a staggered amount per year. But $500.
  5. I am one of those is often quite ambivalent and even negative about my experience in medicine and I'm very upfront in saying I wouldn't do it again. But this varies wildly based on individual circumstances as well. To the OP: 1. Age 23 is very, very, very young. I know it doesn't feel like it now, but it is. Trust me, when you look back in 10 years time, you will think you were a baby, because you are. Not to have income until you're 27... honestly, this isn't nearly as big of a deal in the grander scheme as you might think. A lot of people meet their partners in medical school, and you will be going to medical school in a big city where there are plenty of people to meet both in and out of school. Whether you are a boy or a girl, you will still be prime dating and childbearing age when medical school is done. You could even have a baby during or after medical school, while in residency. 2. I'm surprised you've had all these attendings, especially FM ones, tell you they were miserable. What would they rather be doing instead? Have they experienced other careers? We all suffer to some degree from a "grass is greener" on the other side mentality. People who work at "regular" jobs aren't always happy either where there's the real possibility of getting fired, having to compete for promotions, etc. You might hate your boss or coworkers, your work might be a long drive from where you (can afford to) live. There really are no guarantees. 3. If you are thinking about options, maybe you school would let you defer your decision for a year. However, I would think twice about doing this. One year goes by quickly, and you will have to make the same agonizing decision next year. It's a lot of time to be stuck in limbo, but might not be enough time to explore another viable career, before the decision comes up again, making things all the more muddled. 4. Many of my complaints about medicine stem from the fact that I had a viable career before medical school and only decided to go the medicine route in my late 20s. It made medicine a lot more difficult to bear - there was the opportunity cost of all the income I was giving up, having to move away from my friends, a lot of factors that contributed to my life feeling like a real funk. These things have gotten all the worse as I've matched to a 5-year residency in a location I don't want to be. If I knew things could end up so bad I would have taken the match a lot more seriously and put more effort into gunning for a good location. I'd feel a big sense of relief if I could go to a family program in the same city as my family - at this point I don't care about specialty anymore, I just want my life back and be close the ones I love. I also realize that a lot of my feelings could change later in residency or when I'm an attending. 5. You will never know in advance what's the right thing to do because life is a one shot deal and you don't get to know what would have happened if you had picked another option. Despite all the posts and blogs you read and all the people you talk to, it's still possible that you end up very happy in medicine and glad you picked this path. It's also possible that you leave medicine now and it later becomes a gnawing regret. Or maybe you leave medicine now and never look back. But what we do know is that even with a less-than-ideal career, you can still make your life very satisfying, both inside and outside of the career. So it may not matter which career pick so much as how well you deal with life's challenges as they come up and your ability/luck in finding a niche where you're happy. And if you're someone who's prone to depression, you will be prone to depression no matter what you do. It's something that will stay by your side through thick and thin, ready to pounce. Sorry, that sounds terrible but as someone who's also prone to depression, that's my experience.
  6. I had someone transfer in to my class from out of province to do their clerkship for family reasons. I think this is the only point in time of the training at which a transfer would have been considered.
  7. shematoma

    Attrition rates for each medical school?

    This, this and this. My biggest regret in life at this point is going into medicine, or at least meeting the people who gave me the idea of going into medicine. It's a virus that has quite literally ruined my life. And everyone here has nailed the problem on the head - the mounting student debt, otherwise useless degree and several years of your young adult life that you will never get back. If I could only be so lucky to be part of the attrition statistics, but it's too late for me. I'm "too close" to the end to stop.
  8. shematoma

    using LOC for investment purposes

    This person was allegedly 'denied' OSAP for this reason: https://www.reddit.com/r/PersonalFinanceCanada/comments/53cj89/denied_osap_through_tfsa_investment_with_3_more/ If you had an RRSP, I believe they allow you to keep $2K for each year since you've turned 18 years old. But a TFSA can be easily liquidated without tax penalties, so that's maybe why they're less forgiving. Since you're required to contribute $3K per year yourself to your education, you could in theory keep $3K in the TFSA without OSAP caring about it. Any firm that allows you to open a TFSA will report it to the government, so if you have a TFSA, OSAP can find out about it if they pull your info from the CRA. I don't know if it's worth the risk of getting denied OSAP, especially the grants.
  9. shematoma

    Consequences of rejecting offer?

    It's acceptable in at least one other medical school. It's not uncommon to hear people interrupting their studies to do a graduate degree, but all kinds of things are negotiable once you are enrolled. What did you end up doing? Did you defer or reject the offer?
  10. shematoma

    using LOC for investment purposes

    This is getting into very complicated territory. Much safer to try this in residency when you still have access to the LOC and don't have loans to worry about. Or forego getting student loans if one thinks the investment returns are high enough. But the grants and scholarships...
  11. shematoma

    using LOC for investment purposes

    I think you could technically be a "deemed" non-resident if you were, say a dual citizen of a foreign country with which Canada has a tax treaty (which the US is) intending to go back after you study, especially if you have residential or family ties abroad. https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/international-students-studying-canada.html
  12. shematoma

    using LOC for investment purposes

    If you can open a US-based investment account and you report US taxes as a US resident, you may be fine but if you're a non-resident then you may have reporting obligations to the CRA. If you're going to school in Canada and filing taxes here as a resident then it's complicated and you might need some professional accounting advice.
  13. shematoma

    using LOC for investment purposes

    Fair enough, but if someone is going into this knowing what they're getting into, they could have to stomach shocks and swings of ~30% or more potentially, the expected return from equities still exceeds the LOC interest in the long term.
  14. shematoma

    using LOC for investment purposes

    Any kind of investment is going to be unpredictable by nature... but come to think about it, as long as you're prepared to carry the interest payments (potentially with interest rates going up over the next few years), $300,000 is manageable debt for a future physician. One thing that the CRA would have a hard time finding out is physical real estate...
  15. I highly doubt an agent would be fired for waiving the annual fee on a credit card. Maybe they'll get reprimanded, but it might be worth their while if they're seen to be pulling in lots of new business.
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