If you had no debt...

[UniqueDoc]

This question is meant for all residents and attending physicians.

If you had no debt, would you quit residency? If yes, what would other careers would you pursue?

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[gutonc]

As with most questions of this nature, a little context is in order.

 

[UniqueDoc]

As with most questions of this nature, a little context is in order.

I pm'ed you a few days ago. Did you receive it?

 

[gutonc]

Yes, but that's neither here nor there as regards your post. You're not asking a random question here. You have a very specific question that would be more honestly answered if people knew the background.

 

[eteshoe]

I'm not in residency yet but I assume if you have no med school debt, then you don't have to do residency if you don't want to go through the training. Though that would mean you would be really giving up any opportunity to practice medicine (especially in your case - being an IMG would make it a difficult uphill battle the longer you wait). Now if you like research, it's possible for you to get some sort of postdoc position in the US, however, if research isn't your thing it's going to be difficult getting any other type of practical job since you wouldn't have any real marketable skills. Even pharma would usually want an MD that has gone through residency (ideally boarded).

 

[mvenus929]

No. I like my job most days. And I'm looking forward to my career.

 

[HopefulCanadian]

I would assume that if you really wanted to do medicine in the first place. Why wouldn't you not go through the training. I would think it would be an honor. Additionally, pre-training completion means you haven't given it a fair shake. I honestly couldn't see myself doing anything else. If anything It would make it more enjoyable because you wouldn't have to worry about paying off debt. You could even take the money that you would have spent on debt repayments and put it towards businesses and investments on the side. Another alternative could be to start saving towards eventually starting a private practice if this is your goal. Part of the reason why people don't buy their own could be because of the upfront cost of it. Especially for my resource intensive specialties like ophthalmology.


This is just my opinion though. Most other jobs you will be sitting in front of a computer all day.

 

[j4pac]

When you don't work...that's when you start to die. If I won the lotto I would continue my job. It rewarding, I enjoy it, and I want my children to know that there are more important things in life than money.

 

[HopefulCanadian]

When you don't work...that's when you start to die. If I won the lotto I would continue my job. It rewarding, I enjoy it, and I want my children to know that there are more important things in life than money.

My friends grand father was a physician. He died at his desk doing paper work.

 

[j4pac]

My friends grand father was a physician. He died at his desk doing paper work.

LOL. Well, you will die either way. I just don't think that unemployment is healthy. I'm not sure that grinding away 80hr a week is healthy either but at least you have at least one reason to live.

 

[HopefulCanadian]

LOL. Well, you will die either way. I just don't think that unemployment is healthy. I'm not sure that grinding away 80hr a week is healthy either but at least you have at least one reason to live.

There is a saying. While it is a biblical saying it is a very true saying in my opinion. "The idle mind is the devil's playground". I was thinking about this the other day. I don't see myself ever truly retiring, even though I am so far away from this. I would need to be actively working on something on the side at least. You could travel and al of this stuff, but without work most people feel a hunger within themselves. This is fulfillment. It is a hunger that can get so bad and deep that you need it more than food itself. Doing work gives you a purpose and fulfillment.

It is important.

 

[Doctor Bagel]

I'd definitely be in a better long term financial position, but I'd still continue to work. I might work less or at least start working less sooner. Even without the debt, it would be hard to find a job where you could earn a good income (which is a nice thing in a life even when you don't have student debt) without working as a doctor.

 

[QofQuimica]

As someone who is debt-free and headed for early retirement (in my mid-40s), I will tell you this: the kind of type A personality that makes your typical physician is not the kind of person who is going to be content to be put out to pasture playing shuffleboard all day. You need to have something else to retire to if you're a doc, *especially* if you plan to retire early. In your case, you're a young guy or gal who isn't right for medicine, but with no other major life ambition that you've told us about. That's sad, my friend. As I told you before, you need to figure out what you want to be when you grow up. You don't have to find meaning and purpose in practicing medicine just because you went to med school. But you ought to try to find a purpose for your life in something.

 

[WingedOx]

Not sure what else I'd do.

 

[Impromptu]

Debt was certainly a motivating factor for continuing my work. Now that I have paid off my student loans I am working on financial independence. I figure a net worth of about $3-4 Million would be enough to securely retire. I think I will achieve that by age 45.

My options at that point would be to continue working as I do now, going for a high net worth. Spending my money on trips and a lavish lifestyle. Retiring from a fast paced job for one a little more laid back. Retiring to a different career, the most likely being teacher, crossing guard, or Uber driver.

 

[thepoopologist]

This question is meant for all residents and attending physicians.

If you had no debt, would you quit residency? If yes, what would other careers would you pursue?

While I was in medical school, yes, but only because I was under the impression residency would be just as bad as medical school.

Now, no, I like the work and I've seen enough good results with multiple patients for it to be gratifying. I'd simply work less after residency, and spend my free time pursuing other interests.

 

[AMEHigh]

No I wouldn't quit residency.

I already do have a 7-10 year plan to get out of clinical medicine and focus more on public and population health. I've thought about a fellowship at the cdc or a master's degree at the London School of Hygiene and Tropical Medicine. So if I didn't have any debt, I'd probably move my time line to sooner than 7-10 years from now.

 

[estes324]

As a result of being a beneficiary listed in my late father and brothers wills (deaths unrelated and about 4 yrs apart) I graduated medical school and will finish residency with no debt. I consider myself very lucky to have been given the opportunity and privilege to attend medical school and gain acceptance into a residency program in my chosen specialty. I am grateful for what my father and brother did for me in life as well as in death. I love what I do. (PGY-4 anesthesia resident).


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[mercaptovizadeh]

I hate clinical medicine. Apart from making a diagnosis, I find no joy in this work. That said, were I to quit, I'm not sure what alternative career I would do.

 

[Ericslv]

When you are debt free you can work part time if you want or 3/4 time and put 1/4 away for retirement and the rest to live on. That should give you you time to play and still have a career. You can take a few months off and travel the world etc. Work in an urgent care for six months and travel the next if you don't have kids etc.

 

[physicsnerd42]

I have no debt (MD/PhD) and I definitely plan to finish residency and practice medicine.


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