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About Lvl3sonly

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  1. That's pretty common knowledge. I suggest you look up the physician financial independence group on fb.
  2. Sounds like you have a terrible financial advisor/insurance salesman. You're way better off self insuring when it comes to kids.
  3. Health insurance for your family? Are you talking about for your kids? That's completely unnecessary. Same with dental. You don't NEED to have as much insurance as possible like the reps will tell you to for their commission. My own life insurance and disability is <$3000 a year. The 300k figure is already after professional overhead expense. 3k is a pittance when you are making 15k net after taxes. 12k after tax is an amount most canadians would kill for. The whole point I am making is that med school debt is not in any way crippling. You can come out with like 300k debt and still live a lavish luxurious doctor lifestyle.
  4. 3k is definitely a pittance for someone making specialist income. All you need is disability and term life for insurance. 7200-12000 a year you are quoting is quite a high figure for insurance. What is the average specialist making? Let's say 300k of taxable income after overhead and deductions. That's 15k net a month. That's also assuming you aren't incorporated. I don't know how anyone can say that sucks. People would kill to have that level of income and you can live a very luxurious lifestyle on that income.
  5. It's definitely good to be mindful over debt, but this worry is a bit overblown I feel. Med school tuition in canada is still relatively affordable and if you are just a little careful you will be nowhere near 350k in debt. Let's play with some actual numbers. UBC Med tuition just as an example is <100k for all 4 years. Let's say living costs are 25k a year which is pretty generous. Also assuming you aren't working part time at all. Let's also account for interest rate going up to 5%. So basically the worst case scenario. After 4 years when you graduate med school, assuming interest has been accruing the entire time, you have 226k in debt. Let's say you succumb to lifestyle inflation right away while being a resident, go on expensive vacations, and you don't pay down your LOC at all and it just sits there accruing interest. At the end of residency this is the total amount of debt you have: 2 year residency: 250k 5 year residency: 290k At the end of residency, on a 10 year repayment, the monthly payments are ~$2650 and ~$3080 respectively. On a GPs income, you can easily make that work and if you're making specialist income that amount of debt is a pittance. Again, using pessimistic numbers, 200k gross income as GP, 20k deductible expenses, leaves 180k which is 10k a month after taxes net. After servicing your debt, you have ~7000 a month for all living expenses which is a luxurious lifestyle. For some perspective, 7k a month net is equivalent to a 116k salary in BC which is ~95th percentile in terms of income in BC.
  6. Hah, this couldn't be more wrong. You can definitely make 300+, I would say only a minority of dentists are making that much. If you are working in a big saturated city then only a small fraction are taking home that much. I don't know any of my classmates working in the city taking home anywhere near that.
  7. McGill tuition would be the biggest factor by far. That's where I would go. If you have help from parents for tuition and money isn't a big factor then I would go to whichever city you are more familiar with and would have more fun in. I wouldn't put any weight into the curriculum of each respective schools.
  8. Equipment should not be a factor whatsoever man. It's not even really a factor when deciding to buy a practice, it's not a factor in choosing an associateship position, and it sure as hell shouldn't play a factor in choosing a dental school. I have no idea about MPH/CDA as I have no experience with these and don't know anyone involved in either. UBC "teaches" ergo and it's completely useless. You learn it in your 1st year and you don't even see patients until your 3rd. The curriculum may have changed now but ergo is something that you have to be conscious about, not something that is just taught once and you retain it forever. The only thing that should matter with regards to dental school is how much you will living living at the location and where you want to work in future. Will you be happier staying in Edmonton or Toronto? If the above poster is true and there's only a 10k difference in tuition then that shouldn't really play a factor either. You like bigger class sizes and want to work out east so I would go to Toronto.
  9. Hell no. No one gives a crap what you look like in dental school, you're way overthinking this.
  10. Obviously I'm not an expert but I have many friends in medicine and it's only certain surgical specialists that have a hard time finding jobs. Getting into radiology actually isn't that hard. The year I graduated from dental school, my friends in med school were going through their match and that year there were more radiology residency spots than there were applicants who ranked radiology #1. The only really competitive specialties in medicine are derm, ophtho and plastics. Those specialties are where even if you are a superstar you might not match. Even so, you still have ~50% chance of matching. I think if you're not gunning for one of those 3, everything else is a pretty realistic option for you to match. I make a well above average income for a dentist myself but I'm 4 hours from a big city. I would be taking a sizable paycut if I were to come back to the city. In medicine, even family doctors can easily make 250 in the city.
  11. It's not really longer hours, it's just shittier hours. Associates working evenings and weekends is extremely common in big saturated cities like Vancouver and Toronto. I don't think I know a single classmate working in the city who does normal M-F 9-5 hours. To get those kind of hours you have to work rural.
  12. I really wish I had done more research before blindly going into dental school because I was too lazy to do my due diligence between med and dent job markets.
  13. I'm in bc and that hasnt been my experience over here
  14. I did not consider the ITD angle but what you say make complete sense. For domestic grads, buying a practice outside of the city may be the only realistic option.
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