rmorelan Posted December 9, 2013 Report Share Posted December 9, 2013 Unless you have family, how does someone spend into their LOC as a resident? Arent you working or sleeping all the friggin time? Lol ha - people find ways. A merely ok apartment near the hospital in TO at 1600-1800 a month is probably a good start when you take home per month is about 3000, and you have mandatory insurance fees, have to actually eat, maybe have a vacation as shocking as that is when your disposable income is after basics is 400-500 a month it is isn't hard with some shopping to go over I think for many. Link to comment Share on other sites More sharing options...
NLengr Posted December 9, 2013 Report Share Posted December 9, 2013 The other thing med students should probably anticipate is that by the time they are done residency, it will likely not be enough to get a job in many fields (family and maybe stuff like psych, general internal etc. may still be ok). However, the trend, it seems, for most things in Canada is for the physicians group and/or health authority to require a fellowship for new community physicians and surgeons that want to start in any community that's even close to desirable to the average person. So that's an extra 1-2 years of bad salary. For academic centers, it seems a fellowship is no longer enough. Now people are getting asked for multiple fellowships, Master's or PhD's on top of clinical training. So add on more time for that. Maybe things will reverse a bit as the job market opens up, but if I was new, I would plan for the above scenario. I can't see the never ending credential-ism stopping anytime soon. Link to comment Share on other sites More sharing options...
uwodesperate Posted December 9, 2013 Report Share Posted December 9, 2013 When I see residents driving nice cars (50k+) I always wondered how they managed to do that on a resident's salary + all the debt they must have incurred up until this point of their medical careers. After reading this thread, I guess it is safe to assume that those residents have wealthy parents/families. Link to comment Share on other sites More sharing options...
rmorelan Posted December 9, 2013 Report Share Posted December 9, 2013 When I see residents driving nice cars (50k+) I always wondered how they managed to do that on a resident's salary + all the debt they must have incurred up until this point of their medical careers. After reading this thread, I guess it is safe to assume that those residents have wealthy parents/families. Know two residents that did have rather nice cars (porche etc) - one used a rather large amount of LOC, and the other it was a gift Link to comment Share on other sites More sharing options...
uwodesperate Posted December 9, 2013 Report Share Posted December 9, 2013 Know two residents that did have rather nice cars (porche etc) - one used a rather large amount of LOC, and the other it was a gift :eek: yikes risky move?? Link to comment Share on other sites More sharing options...
obi Posted December 10, 2013 Report Share Posted December 10, 2013 :eek: yikes risky move?? 3% is better than a 4.5% finance If he really wanted it and had some money saved up it could make sense. Link to comment Share on other sites More sharing options...
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