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How about lifetime income, with the plumber beginning work at age 18 and the doctor starting at age 37, paying off all student loans, with both retiring at 65?
by temphn 14y ago
How about lifetime income, with the plumber beginning work at age 18 and the doctor starting at age 37, paying off all student loans, with both retiring at 65?
The doctor may come out ahead by 50-55 or so, but certainly not by 37. This holds doubly true if the plumber invests anything at all. 20 years of compound interest on a small base will produce a surprisingly large amount.
- stephencanon 14y agoAn American GP is typically done with all schooling by age 30. There are specialist surgical fields where training into your mid-30's possible, but the income they command is also vastly higher, and your loans are entirely forgiven after a few more years of academic medicine at that point.