Alfisti wroteOr an orthodontist. The only downside to that is that, much like Jesse James, you have to wear a mask when you rob people.Cannot lose as a Dentist surely? Gold mine once set up no?
As for me, always worked in various operational roles within Market Research, hit a bit of a mid-life career wall 3 years ago and moved to sales from ops, turns out it was the best move I ever made. On pace this year to nearly triple my income from 3 years ago, if you can generate revenue (with decent margin), you're worth something.
Phillies8008 wroteLOL - this is what my GF daughter has wanted to be since she was 14 for some odd reason. She is a D3 now, but thinks she might dive out and do GD for a bit and then decide is she wants to continue on and be an ortho.Or an orthodontist. The only downside to that is that, much like Jesse James, you have to wear a mask when you rob people.
Phillies8008 wroteOr an orthodontist. The only downside to that is that, much like Jesse James, you have to wear a mask when you rob people.
mmarsalone wroteI'm a big believer in saving early and delayed gratification. The doubling /compounding is a god tier impact later in life.I just retired @ 60 from a large medical equipment manufacturer, CTs, MRs, etc. I had been in area manager roles for the past 28 years.
There's some good advice above in saving as much as possible when you're young. Save the big purchase and trips until later in life, delayed gratification.
And just like above, my father told me in my teenage years about the power of compound interest and the Rule of 72. Do not wait to start saving for retirement. You may think when you're young you miss one early "doubling" of your savings isn't big because it maybe $10K to $20K. But the one you're really missing out on is the one that may go from $1.5M - $3.0M when your in your 50s or 60s. Load an interest calculator on your phone and run scenarios.
The first is contributing $1000 / month starting at age 25 for 10 years and stop when you're 35 years old. Just use 7% return. Then load that ending as your start and run it for 30 years until your 65 with no additional contributions at 7%.
The second, start contributing $1000 / month starting when your 35 years old and do it for thirty years until your 65 years old with a 7% return also.
You'll see that your $12,000 starting at age 25 is worth more than the $36,000 from when you started at 35. So start early with as much as you can.
The three "wisdoms" I received when I was young were:
My dad - Save as much, as early, as you can because of the rule of 72 = think 401K (Roth if available).
Salesman at my first real job - Pay yourself first, then pay your bills. = think 401K.
My first roommate out of college (CFP) - Dollar Cost Average = think 401K.
And always contribute as much to your 401K as is needed to get the full company match. Otherwise you're giving away free money.
Now for the disclaimer, I am not a financial advisor and your situation may be different. Use this if you feel it fits for you.
Mike
Alfisti wroteThat's very valid. As I said everyone's situation is different.There's balance int he whole save early thing. I get the math but truth be told, once at 45 or so, shit starts to get less fun cos you just cannot do what you could at 22. I dropped a shit ton of money on travel and cars and yeah sometimes I regret it but it's not the same doing it now at near 50... it just.... isn't.
Phillies8008 wroteThat's called the old fashion way.Another really, really great plan is to have rich parents who'll leave you big fat trust fund. in retrospect, I really wish I'd done that.
dcstep wroteI’m planning on specializing in something, probably prosthesis for teeth, because some specializations are phasing out and I think prosthesis is where the money is at.Started as a CPA partner with a big international firm, then finance as a mortgage banker C-level, NYSE company, then risk management consulting.
See a lot of medical professionals in the responses so far. General dentistry is a tough one, with high overhead and lower fees vs. oral surgeon or orthodontist. Hands-on professions should stay strong as AI takes over more and more jobs.
Start your retirement savings day-one.
Moe2Moto wroteMy BMW costs less than the pickups most people drive in Texas. It is also less than many other SUVs. I drive an X3, and it is a tremendous valueHey guys, I apologize if this is an inappropriate question, but I’m 23 years old, still in college and I still question myself on the profession I want to choose. Just like y’all I have a BMW, but when I look around a bunch of forums, I see people with expensive cars and can’t help to wonder what profession they have to afford it.
So if y’all wouldn’t mind trying to push me onto the same path as y’all or giving me some sort of advice on helping me with trying to get into my profession that would be great.
I’ll start, I’m 23, I’m in college majoring in Chemistry in hopes of being a dentist. Currently unemployed and in school.
Mason Hatcher wroteMy advisor told me there was no difference. (There is) but I’m still majoring in chemistry, but taking the required classes to get into dental school. Regardless of my major.My BMW costs less than the pickups most people drive in Texas. It is also less than many other SUVs. I drive an X3, and it is a tremendous value
If you want to be a dentist why are you majoring in chemistry. Those seem incongruent
Moe2Moto wroteI don't think it matters on the major so long as the prerequisites are met and met well.My advisor told me there was no difference. (There is) but I’m still majoring in chemistry, but taking the required classes to get into dental school. Regardless of my major.
