First big purchase?

[ChargerSRT]

If you are a pharmacy student, what will be your first big purchase after you graduate?

If you are a pharmacist, what was your first big purchase?

I graduate in May and I am ready to start making and spending money. My first purchase will be a new 2009 Pontiac G8 GXP. I can't wait!

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[CD5]

A hybrid car and the new Lotus Esprit.

 

[Allure]

a condo

 

[Jbuprepharm]

well, assuming I joined an armed force and have no debt whatsoever... nothing until I get out of that armed service so it doesn't get messed up moving, but then it will be a house.

besides, between P1 and P2 year I bought a 42inch Vizio LCD tv and a PS3, so that was my splurge for quite a while

 

[Caverject]

If you are a pharmacy student, what will be your first big purchase after you graduate?

If you are a pharmacist, what was your first big purchase?

I graduate in May and I am ready to start making and spending money. My first purchase will be a new 2009 Pontiac G8 GXP. I can't wait!

my first big purchase 2 days after I graduate is going to be my wedding...it sucks cause I want a car so bad grrr maybe I should divorce her afterwards to get my car!!

 

[njac]

I bought a 2006 Honda Element at the beginning of second year.

My first big purchase was a digital camera 1st year - I try to get myself something with every loan disbursement. Last fall I required a newlaptop

 

[jspwinter]

One thing every professional needs is a nice watch.

 

[Epic]

One thing every professional needs is a nice watch.

Hell no....why does anyone need a nice watch??? Cell phone tells time just fine. I like to think that people who desire nice watch suffers terribly from inferiority complex....

 

[SpirivaSunrise]

One thing every professional needs is a nice watch.

Really? I'm wearing the same one I did in undergrad, and pharmacy school. And it's still ticking...so I don't think I'll be getting a new one any time soon.

I did furnish a new apartment including 50" plasma tv, living/dining/bedroom furniture, but used my mover's comp from my employer for that. So everything's all paid for and now it's time to save, retire young, and enjoy life!

 

[Epic]

I bought a 2006 Honda Element at the beginning of second year.

My first big purchase was a digital camera 1st year - I try to get myself something with every loan disbursement. Last fall I required a newlaptop

I bought a Honda Element... had it for about 6 months now..maybe I'll wash it..

 

[SpirivaSunrise]

Hell no....why does anyone need a nice watch??? Cell phone tells time just fine. I like to think that people who desire nice watch suffers terribly from inferiority complex....

Although I will buy my Dad one of these when he hangs up the blackberry...

 

[Epik]

Agreed. A nice cell phone replaces the watch for most people. But still it wouldn't hurt to be given a nice Patek Philippe. But buy one yourself? Not recommended. Kind of like a ferrari, it looks nice but it's way excess, impractical, and you don't want to be "that guy".

I think the best option for pharm grads would be to invest in a property for the tax benefits and get a reliable, high MPG car.

A nice computer, internet connection, and a 47+ LCD screen or 1080p projector and you're set for all your computer/gaming/TV/movie needs. But this is more of during pharm school rather than after you graduate.

But most people will still probably spend too much on a new car. And judging by statistics, most of you and your mothers will end up in a BMW 3 series or M3 for the guys who claim to be into the "performance" aspect of cars. Which is funny because stock M's aren't really that fast or great on the tracks. The guys willing to spend a bit more will opt for a Porsche, but anything below $140k isn't that fast either. Then you've got the Corvette/Viper guys who'll be dead before their 2nd year out of school. Ferrari and Lamborghini guys will let their cars define them and be miserable for the rest of their lives and GT-R drivers will be happy but will probably realize they could've made due with a much cheaper vehicle.

And if you're a girl, it doesn't really matter what you want to drive because the deck is stacked, and you'll find yourself in an SUV by 40. lulz

Personally I'll probably just pick up a used 3 sedan and pretend it's a McLaren

I'd have to give a nod to the previous poster who's getting a Lotus though, some of those are extremely fun to drive.

 

[njac]

I bought a Honda Element... had it for about 6 months now..maybe I'll wash it..

washing your car is overrated. although my Ella' has a huge crack in the windshield I should take care of at some point.

 

[RxWildcat]

I'll definitely be getting a house first and foremost, then either a z06 or a used viper.

 

[SpirivaSunrise]

Agreed. A nice cell phone replaces the watch for most people. But still it wouldn't hurt to be given a nice Patek Philippe. But buy one yourself? Not recommended. Kind of like a ferrari, it looks nice but it's way excess, impractical, and you don't want to be "that guy".

I think the best option for pharm grads would be to invest in a property for the tax benefits and get a reliable, high MPG car.

A nice computer, internet connection, and a 47+ LCD screen or 1080p projector and you're set for all your computer/gaming/TV/movie needs. But this is more of during pharm school rather than after you graduate.

lol!! Epik???

 

[WVUPharm2007]

I'm gonna buy myself a huge chunk of student loan.

 

[Caverject]

can't spell Epik without troll

 

[Epic]

washing your car is overrated. although my Ella' has a huge crack in the windshield I should take care of at some point.

I don't think Element really needs a wash.... I just feel like it deserves it... it spends a lot of time being towed behind a motorhome..

 

[pharmdinfl]

A house first and then a wedding!

 

[CD5]

Agreed. A nice cell phone replaces the watch for most people. But still it wouldn't hurt to be given a nice Patek Philippe. But buy one yourself? Not recommended. Kind of like a ferrari, it looks nice but it's way excess, impractical, and you don't want to be "that guy".

I think the best option for pharm grads would be to invest in a property for the tax benefits and get a reliable, high MPG car.

A nice computer, internet connection, and a 47+ LCD screen or 1080p projector and you're set for all your computer/gaming/TV/movie needs. But this is more of during pharm school rather than after you graduate.

But most people will still probably spend too much on a new car. And judging by statistics, most of you and your mothers will end up in a BMW 3 series or M3 for the guys who claim to be into the "performance" aspect of cars. Which is funny because stock M's aren't really that fast or great on the tracks. The guys willing to spend a bit more will opt for a Porsche, but anything below $140k isn't that fast either. Then you've got the Corvette/Viper guys who'll be dead before their 2nd year out of school. Ferrari and Lamborghini guys will let their cars define them and be miserable for the rest of their lives and GT-R drivers will be happy but will probably realize they could've made due with a much cheaper vehicle.

And if you're a girl, it doesn't really matter what you want to drive because the deck is stacked, and you'll find yourself in an SUV by 40. lulz

Personally I'll probably just pick up a used 3 sedan and pretend it's a McLaren

I'd have to give a nod to the previous poster who's getting a Lotus though, some of those are extremely fun to drive.

This guy basically shaped out and shot down a huge part of the pharmacy population's life goals, paths, and aspirations...I love it .

And nothing beats Lotus Engineering!.

 

[PharmD2MD]

The $$ goes fast once you graduate. You'll be surprised. I know a lot of guys who got in way over there heads with debt buying expensive homes, cars, and other stuff. I also know the people that need to hear this will probably ignore me, but for whatever its worth save your first several pay checks to the greatest extent possible. Don't buy an expensive car. Pay down some debt. Get a financial planner. Yeah, sort of a buzzkill, but you'll be really glad you did this about 10 years from now.

 

[Allure]

Off topic, but can you work on your 4th year to make some extra money...say 20 hours/week on top of working for free for 40 hours/week? Is it even allowed? I have a wedding to pay for on top of student loans and a place to live. If I'm going to do a residency, $35K is not going to cut it.

 

[WVUPharm2007]

Don't buy an expensive car. Pay down some debt. Get a financial planner. Yeah, sort of a buzzkill, but you'll be really glad you did this about 10 years from now.

You and your common sense. *shakes fist*

That really is what most people SHOULD do, but they won't. I can understand. The academic end goal is right there and the temptation to pamper yourself is very strong. Honestly, anyone could correctly say they deserve it, too. If that's what they want, more power to them. But, man, making 6 figs and living paycheck to paycheck? I don't want to get into that trap at all. EVERYONE really should go talk to a financial planner. Get your **** straightened out from the get go. But, you know, the 24 year old who is all of a sudden taking home three grand every few weeks....that shiny new BMW is niiiice....

Though I must admit that having no desire to drive something worth $40,000 so that I look rich probably helps me out in that regard. **** that. I like to roll incognito. I'm driving my old, beaten up Ford Taurus until it dies. Which from what I understand may very well be until forever. It's about to hit 156k and still drives like a dream. Keep on livin' in my trailer, paying my cheap *** lot rental. Pay off my loans, pay my 15 grand into a 401k, keep living humbly. That's the goal. Then my ultimate desire to do nothing will be achieved as I will be able to retire early. And that's worth more than anything....

 

[WVUPharm2007]

Off topic, but can you work on your 4th year to make some extra money...say 20 hours/week on top of working for free for 40 hours/week? Is it even allowed? I have a wedding to pay for on top of student loans and a place to live. If I'm going to do a residency, $35K is not going to cut it.

That's what Vegas weddings are for. Hell, I got married in a courthouse. Cost us $18.

I worked during rotations. They don't always hold you for 40 hours. Some rotations were only 20 hours/week. I guess it depends on the school. You probably can't work during residency though....they tend to limit that contractually.

 

[medicalCPA]

You and your common sense. *shakes fist*

That really is what most people SHOULD do, but they won't. I can understand. The academic end goal is right there and the temptation to pamper yourself is very strong. Honestly, anyone could correctly say they deserve it, too. If that's what they want, more power to them. But, man, making 6 figs and living paycheck to paycheck? I don't want to get into that trap at all. EVERYONE really should go talk to a financial planner. Get your **** straightened out from the get go. But, you know, the 24 year old who is all of a sudden taking home three grand every few weeks....that shiny new BMW is niiiice....

Though I must admit that having no desire to drive something worth $40,000 so that I look rich probably helps me out in that regard. **** that. I like to roll incognito. I'm driving my old, beaten up Ford Taurus until it dies. Which from what I understand may very well be until forever. It's about to hit 156k and still drives like a dream. Keep on livin' in my trailer, paying my cheap *** lot rental. Pay off my loans, pay my 15 grand into a 401k, keep living humbly. That's the goal. Then my ultimate desire to do nothing will be achieved as I will be able to retire early. And that's worth more than anything....

You are so like me (or I am so like you)!

 

[tussionex]

Off topic, but can you work on your 4th year to make some extra money...say 20 hours/week on top of working for free for 40 hours/week? Is it even allowed? I have a wedding to pay for on top of student loans and a place to live. If I'm going to do a residency, $35K is not going to cut it.

you're just as married if you go to the local courthouse. don't waste your money on one day!

buy a nice car...you can drive it for years!

 

[Chiyo]

A down payment on a house.

 

[Allure]

you're just as married if you go to the local courthouse. don't waste your money on one day!

buy a nice car...you can drive it for years!

I don't think my parents would be too happy with that. Maybe they can pay for the wedding then...lol..

I need to save for a down payment for a house or a condo. I plan to move in a few years after graduation, that's why I don't want to buy a house.

 

[FutureRPh]

You and your common sense. *shakes fist*

That really is what most people SHOULD do, but they won't. I can understand. The academic end goal is right there and the temptation to pamper yourself is very strong. Honestly, anyone could correctly say they deserve it, too. If that's what they want, more power to them. But, man, making 6 figs and living paycheck to paycheck? I don't want to get into that trap at all. EVERYONE really should go talk to a financial planner. Get your **** straightened out from the get go. But, you know, the 24 year old who is all of a sudden taking home three grand every few weeks....that shiny new BMW is niiiice....

Though I must admit that having no desire to drive something worth $40,000 so that I look rich probably helps me out in that regard. **** that. I like to roll incognito. I'm driving my old, beaten up Ford Taurus until it dies. Which from what I understand may very well be until forever. It's about to hit 156k and still drives like a dream. Keep on livin' in my trailer, paying my cheap *** lot rental. Pay off my loans, pay my 15 grand into a 401k, keep living humbly. That's the goal. Then my ultimate desire to do nothing will be achieved as I will be able to retire early. And that's worth more than anything....

Amen to this! I agree that life isn't a race and we don't need to blow all the $. What is the point? I will be forming a budget and paying off loans and living frugally within my means so I can get out of student debt and plan for retirement. Once things die down I can buy nice things for my wife

 

[DoctorRx1986]

With all due respect, I can't understand you guys. I'm going to be a P1 this fall. How is that after possibly being over $100,000 in debt, you guys have the nerve to get into even more debt and buy a house or a car? Jesus Christ....that seems insane and bizarre. I'll probably have about $150,000 in debt and there is no way i am going to indulge in anything until i pay most of my loans off within 5 years. Currently, I drive a 2000/2001 Toyota Corolla and i'll still be driving it even after i graduate in 2012. Why would you want to get into more debt for a house or car? Wouldn't it be more intelligent or wiser to first pay off your loans and then get into debt with a house/condo or automobile?

 

[Jbuprepharm]

With all due respect, I can't understand you guys. I'm going to be a P1 this fall. How is that after possibly being over $100,000 in debt, you guys have the nerve to get into even more debt and buy a house or a car? Jesus Christ....that seems insane and bizarre. I'll probably have about $150,000 in debt and there is no way i am going to indulge in anything until i pay most of my loans off within 5 years. Currently, I drive a 2000/2001 Toyota Corolla and i'll still be driving it even after i graduate in 2012. Why would you want to get into more debt for a house or car? Wouldn't it be more intelligent or wiser to first pay off your loans and then get into debt with a house/condo or automobile?

shhh, you're gonna spoil people's fun with sound financial thinking

but seriously, for me, 3 years in the navy, no debt when I get out (or re-sign) and I can live on my own terms (financially)

 

[Allure]

With all due respect, I can't understand you guys. I'm going to be a P1 this fall. How is that after possibly being over $100,000 in debt, you guys have the nerve to get into even more debt and buy a house or a car? Jesus Christ....that seems insane and bizarre. I'll probably have about $150,000 in debt and there is no way i am going to indulge in anything until i pay most of my loans off within 5 years. Currently, I drive a 2000/2001 Toyota Corolla and i'll still be driving it even after i graduate in 2012. Why would you want to get into more debt for a house or car? Wouldn't it be more intelligent or wiser to first pay off your loans and then get into debt with a house/condo or automobile?

It's called INVESTMENT!!!! I hope you won't be living with your parents after you graduate, that means you need to find a place to live. So why waste money paying for rent when you can invest into getting a house?

 

[DoctorRx1986]

It's called INVESTMENT!!!! I hope you won't be living with your parents after you graduate, that means you need to find a place to live. So why waste money paying for rent when you can invest into getting a house?

I understand it's an investment, but after investing four years and about $150,000 of debt, I think it'd be best to get to paying off my loans first before I decide to get myself into more debt, even if it's another investment, and buy a house. I would rather live in a place with a simple bedroom, bathroom, and a small kitchen and pay $500-600 per month knowing I am eliminating my debt rather than live an extravagant lifestyle that is beyond my means upon graduation. One reason why Americans have so much debt and why the US is the nation of indebtedness is because people try to live beyond their means. Sure, someone might be driving around in a Jaguar, but what's the benefit or point if you're struggling to pay down your debts? By the way, what exactly is wrong with living with parents after graduation for a few years? I don't plan on doing that, but even if i did, what's so sinful or tragic about that? If a person is contributing to bills and is not just living off his or her parents as a pharmacist while paying off debt, there is nothing wrong with that.

 

[tussionex]

I don't think my parents would be too happy with that. Maybe they can pay for the wedding then...lol..

I need to save for a down payment for a house or a condo. I plan to move in a few years after graduation, that's why I don't want to buy a house.

i'm sure your parents are very nice people. but, don't have a big wedding to make them happy!
trust me....you'll spend years regretting blowing MORE than the cost of a fairly nice car or a down payment on a house for a day that you'll likely forget most of anyway.

go the the JP and invest in real estate, if you don't want to splurge on a car


BTW....does anyone want to buy some wineglasses? i registered for a crapload in a moment of weakness and, well, we're beer people!

 

[confettiflyer]

Dinner at the French Laundry in Yountville, CA.

Followed by a yet to be determined L-lens and probably a the successor to the 40D.

 

[hope2Bdoc]

I understand it's an investment, but after investing four years and about $150,000 of debt, I think it'd be best to get to paying off my loans first before I decide to get myself into more debt, even if it's another investment, and buy a house. I would rather live in a place with a simple bedroom, bathroom, and a small kitchen and pay $500-600 per month knowing I am eliminating my debt rather than live an extravagant lifestyle that is beyond my means upon graduation. One reason why Americans have so much debt and why the US is the nation of indebtedness is because people try to live beyond their means. Sure, someone might be driving around in a Jaguar, but what's the benefit or point if you're struggling to pay down your debts? By the way, what exactly is wrong with living with parents after graduation for a few years? I don't plan on doing that, but even if i did, what's so sinful or tragic about that? If a person is contributing to bills and is not just living off his or her parents as a pharmacist while paying off debt, there is nothing wrong with that.

another reason americans have uncontrolled debt...... wasting money.
take that 500-600 you're pissing down the toilet in rent and build some equity.
a $100,000 home would be in that same $$ neighborhood plus you get the tax write off for the interest you're paying, tax deductions you will need with your salary.

 

[confettiflyer]

another reason americans have uncontrolled debt...... wasting money.
take that 500-600 you're pissing down the toilet in rent and build some equity.
a $100,000 home would be in that same $$ neighborhood plus you get the tax write off for the interest you're paying, tax deductions you will need with your salary.

you all just killed the fun of this thread

 

[confettiflyer]

I understand it's an investment, but after investing four years and about $150,000 of debt, I think it'd be best to get to paying off my loans first before I decide to get myself into more debt, even if it's another investment, and buy a house.

PS dumbest idea ever, you're just pissing away money if you do that.

 

[SpirivaSunrise]

Dinner at the French Laundry in Yountville, CA.

Followed by a yet to be determined L-lens and probably a the successor to the 40D.

Nice!! I'm sooo with you on both. Have the whole trip planned out...French Laundry, Carneros Inn, Cakebread, Burgers and Bottles, Frog's Leap, Mustards Grill. Just have to decide when to go

 

[RxWildcat]

I By the way, what exactly is wrong with living with parents after graduation for a few years? I don't plan on doing that, but even if i did, what's so sinful or tragic about that?

uhh, you're like 25+ at graduation, so you think being close to 30 and living with your parents would be better than forking out some of your paycheck to buy a house? ouch. I moved out at 18 and never looked back!

 

[Allure]

By the way, what exactly is wrong with living with parents after graduation for a few years? I don't plan on doing that, but even if i did, what's so sinful or tragic about that? If a person is contributing to bills and is not just living off his or her parents as a pharmacist while paying off debt, there is nothing wrong with that.

If I am going to buy a condo for around $100K since where I live housing are not too expensive, my monthly payment would be around $500-$600/month. So it's almost like paying for an apartment. A lot of Americans are in debt because they don't know how to plan. If you're afraid of having so much debt, then don't take out so much loans while in school and try to get a job. Not everybody will have $150K in debt. There is nothing wrong with living with your parents, but if you're married, I don't think that would be too convenience.

 

[spacecowgirl]

I (just) bought a house

 

[spacecowgirl]

By the way, what exactly is wrong with living with parents after graduation for a few years? I don't plan on doing that, but even if i did, what's so sinful or tragic about that?

Nothing...if you never ever want to get any.

Seriously though, my parents would be pissed if I thought I could live with them while making more than them after everything they've done for me all these years. I would be really embarrassed to be living with my parents at my age.

 

[ChargerSRT]

With all due respect, I can't understand you guys. I'm going to be a P1 this fall. How is that after possibly being over $100,000 in debt, you guys have the nerve to get into even more debt and buy a house or a car? Jesus Christ....that seems insane and bizarre. I'll probably have about $150,000 in debt and there is no way i am going to indulge in anything until i pay most of my loans off within 5 years. Currently, I drive a 2000/2001 Toyota Corolla and i'll still be driving it even after i graduate in 2012. Why would you want to get into more debt for a house or car? Wouldn't it be more intelligent or wiser to first pay off your loans and then get into debt with a house/condo or automobile?

I am going to guess from your debt that you are going to a private school.

I'm only going to be at about $50,000 in the hole. State school FTW.

 

[ChargerSRT]

The $$ goes fast once you graduate. You'll be surprised. I know a lot of guys who got in way over there heads with debt buying expensive homes, cars, and other stuff. I also know the people that need to hear this will probably ignore me, but for whatever its worth save your first several pay checks to the greatest extent possible. Don't buy an expensive car. Pay down some debt. Get a financial planner. Yeah, sort of a buzzkill, but you'll be really glad you did this about 10 years from now.

Buzz Killington.

 

[Trancelucent1]

I'm hoping to purchase a condo in the next few months. Even though I'll be living on a resident's salary, it's still about the same monthly as renting. At least I'll build up equity and in the next 5 years buy a house. Real estate is always a good investment!

 

[MR. C]

Ill probably buy a house, nothing real nice but I dont want to pay rent when I can purchase a home for the same monthly payment.

and I may buy a nice car. Even though I know its a not a good idea. Live for today but plan for tomorrow.

 

[DoctorRx1986]

If I am going to buy a condo for around $100K since where I live housing are not too expensive, my monthly payment would be around $500-$600/month. So it's almost like paying for an apartment. A lot of Americans are in debt because they don't know how to plan. If you're afraid of having so much debt, then don't take out so much loans while in school and try to get a job. Not everybody will have $150K in debt. There is nothing wrong with living with your parents, but if you're married, I don't think that would be too convenience.

I understand your reasoning partially because number 1, just like you said, housing is not very expensive where you live. I am in South Florida, Ft. Lauderdale/Miami area and most condos are in the $200,000-$250,000s. Talk about a house. That's excessive right out of school. So, if you come from a reasonably priced location, consider yourself lucky and blessed. Right now, I am living in NYC....so, that should tell you something itself about the cost of living up here. Numer two, your solution to not getting into that much debt is beyond absurd and simplistic. Tell me...with the cost of a private education, housing/dorms, miscellaneous expenses, how am I going to work at a job possibly making no more than $10 per hour to afford paying any of the exorbitant fees that are part of a pharmacy education? That just doesn't cut it and besides, working while in pharmacy school is probably not a very good idea for grades and stress levels. This is no longer undergrad. Yes, not everyone will have $150,000 in debt, but most will have significant debt. Mommy and daddy are not there to pay for my education as well as the education of most others, so I have no choice. In terms of marriage and the inconvenience of living with parents at that point, that doesn't apply to me. Chances are I won't be married anytime soon, as I am only 21 years old and do not consider marriage to be convenient anytime soon. But i guess you're right...it would be inconvenient to an extent while living with parents.

 

[confettiflyer]

inconvenient? more like embarrassing!

Home is where fresh graduates of undergrad go for 2....mmm....3 years TOPS to figure things/save money. Graduates of pharmacy school with earning potential over six figures don't need to go home, they need to plan correctly and be on their own like normal people.

Debt is a part of life....if you're that debt averse, sounds like you're going to break out into night sweats so long as you carry a balance on ANYTHING, so I suggest a change in mentality or you're going to be stressed out for the next 30 years carrying student loans, a mortgage, car loan, etc.... Balance yourself, don't wage a full frontal attack on debt....better yet, go talk to a real financial planner, not your parents' jibber jabber.

 

[DoctorRx1986]

Nothing...if you never ever want to get any.

Seriously though, my parents would be pissed if I thought I could live with them while making more than them after everything they've done for me all these years. I would be really embarrassed to be living with my parents at my age.

Well, spacecowgirl, I can definitely understand how embarrassed you would feel to be living with your parents, especially at your age. After all, you are almost 30 years old, almost an entire decade older than I am. So, I wouldn't be embarrassed to be living with parents at age 24. Why would I be? As for the above comment, " Nothing...if you never want to get any", nice going there. First of all, that comment is completely unwarranted, as it digresses from the main topic of discussion. But if anything, if living with parents for some time is such an inherent flaw in a person's character at the age of 24 or 25, I'll just find a good old traditional Christian church girl who has values and perspectives different from the rest of the modern world and who is not some shallow, whoremonger girl who misjudges me or my character all because of making a simple decision to postpone moving out on my own. But thanks for your comments. Best of luck.