What car do you drive? - Dentist Edition

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TanMan

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I saw one of these posts in the Pharmacy forum after lurking there and thought we should have one too! Also, @Chipotlegonewild challenged me to post a picture of my car, with my SDN handle, timestamp and all... here it goes. Sadly, they didn't listen to my instructions of debadging the i8 logo and did a piss poor job of cutting the film. I have to have it redone again.

Post a pic of the i8 with a paper with "tanman" on it cuz I don't believe you.

Sorry for the lateness, been busy lately and forgot about it.

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I saw one of these posts in the Pharmacy forum after lurking there and thought we should have one too! Also, @Chipotlegonewild challenged me to post a picture of my car, with my SDN handle, timestamp and all... here it goes. Sadly, they didn't listen to my instructions of debadging the i8 logo and did a piss poor job of cutting the film. I have to have it redone again.



Sorry for the lateness, been busy lately and forgot about it.
Schwinn for me, wife gets the gremlin with the 3 rugrats... OS salary = mean cheddar.
 
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I saw one of these posts in the Pharmacy forum after lurking there and thought we should have one too! Also, @Chipotlegonewild challenged me to post a picture of my car, with my SDN handle, timestamp and all... here it goes. Sadly, they didn't listen to my instructions of debadging the i8 logo and did a piss poor job of cutting the film. I have to have it redone again.



Sorry for the lateness, been busy lately and forgot about it.

Are you a GP?
 
1.2 Mil in Debt. Honda.

You are asking in the wrong forums. Dentists are broke with their student loans and starting salaries. You should go post in the MD forums.
 
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1.2 Mil in Debt. Honda.

You are asking in the wrong forums. Dentists are broke with their student loans and starting salaries. You should go post in the MD forums.
Why do you have so much debt? Did you buy a practice while still having a ton of school debt?
 
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Why do you have so much debt? Did you buy a practice while still having a ton of school debt?

Bought a large practice. No student loans.

If you think about it, most people graduate with 300-500k loans, and a medium sized practice sells for 500-800k. They will also be in same amount of debt but less cash flow.
 
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Bought a large practice. No student loans.

If you think about it, most people graduate with 300-500k loans, and a medium sized practice sells for 500-800k. They will also be in same amount of debt but less cash flow.
Is this a debt you're going to tackle aggressively? Or do you plan on just living comfortably and paying it off over a longer period? Not sure if there is a different mindset for paying off student loans vs practice loans.
 
Is this a debt you're going to tackle aggressively? Or do you plan on just living comfortably and paying it off over a longer period? Not sure if there is a different mindset for paying off student loans vs practice loans.

Pay it off slowly at 2.8% interest. Invest in the market and make my money gain me better returns.

I dunno, I think dentistry ain't bad, but the new grad experience is no Audi R8 experience or even a nice BMW experience. Just thinking that if I went the MD route I wouldn't have to go SUPER in debt in order to make a big buck. There really isn't any out in dentistry if you want to be an employee...you have to be a business man...you have to go into ALOT of debt to have a chance of making $$$.
 
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1.2 Mil in Debt. Honda.

You are asking in the wrong forums. Dentists are broke with their student loans and starting salaries. You should go post in the MD forums.

I'm not broke and nor are many others. You simply chose to buy a practice early.

New MDs are typically much more broke since they have low paid residencies and fellowships immediately folllowing graduation.
 
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I'm not broke and nor are many others. You simply chose to buy a practice early.

New MDs are typically much more broke since they have low paid residencies and fellowships immediately folllowing graduation.

Curious, do you think the newer grads with the debtloads of today will be fine?
 
I'm not broke and nor are many others. You simply chose to buy a practice early.

New MDs are typically much more broke since they have low paid residencies and fellowships immediately folllowing graduation.
MD's more broke? Not even close.

My wife's private Med school was $130k.
My state DS was $239K (just s few years later).

Her residency pay was nothing to be sniffed at either: after 4 years we'd saved enough for a down-payment on our house. But we were really cheap back then.

Her 1st year fixed income was higher than any I've ever had and doubled her 3rd year on production. After 2 yrs, she was given automatic buy-in / stock in company. No money input required.

(Now her company has partially been sold off and she got a windfall of $1.1M 2yrs ago after being with the company just 7 yrs. This year more stock will be sold off for another $1.1M windfall)

Make no mistake, the average incomes are better as a MD but the hours are typically much longer. The buy-ins are typically automatic and at no cost.

Meanwhile my income is about a 1/3 of hers and 5 yrs out I'm still $150k in DS debt. The guy I work for offered me his office for $1.1M cash. Nothing automatic about that.

Very different prospects.



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MD's more broke? Not even close.

My wife's private Med school was $130k.
My state DS was $239K (just s few years later).

Her residency pay was nothing to be sniffed at either: after 4 years we'd saved enough for a down-payment on our house. But we were really cheap back then.

Her 1st year fixed income was higher than any I've ever had and doubled her 3rd year on production. After 2 yrs, she was given automatic buy-in / stock in company. No money input required.

(Now her company has partially been sold off and she got a windfall of $1.1M 2yrs ago after being with the company just 7 yrs. This year more stock will be sold off for another $1.1M windfall)

Make no mistake, the average incomes are better as a MD but the hours are typically much longer. The buy-ins are typically automatic and at no cost.

Meanwhile my income is about a 1/3 of hers and 5 yrs out I'm still $150k in DS debt. The guy I work for offered me his office for $1.1M cash. Nothing automatic about that.

Very different prospects.

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I think its really hard to compare an MD v. DDS/DMD due to that there's huge variances in each field with respect to debt and income, not to mention specialties, working conditions, state, etc...

However, as a GP, we do have a headstart to our counterparts. What you do with the money is a different story. That headstart is crucial because it means more years of working and/or enjoying life at its peak and not when you're old. I also think we don't have to work as hard as our MD counterparts nor have to deal with the bureaucracy. I really don't think you guys have to fear student debt. I'm pretty much done with my debt and it seems hopeless as an associate, but as a business owner, you'll pay it off in a year or less (once your practice is booming).

1.2 Mil in Debt. Honda.

You are asking in the wrong forums. Dentists are broke with their student loans and starting salaries. You should go post in the MD forums.

This is why I advocate starting your own office v. purchasing unless it was a 3MM+/yr office.

Curious, do you think the newer grads with the debtloads of today will be fine?

Yes, but you have to know what to do and willing to work for it. Life is getting harder for dentists, and competition is increasing. Those that allow themselves to be slaves to debt will be enslaved for the majority of their life because they can't get out of the mental prison and debt trap. Dentists who are in it for the long run will use these people in their own dental empire. I personally believe in making as much money as possible and getting the heck out.

This seems to be the common fear among dental students and new grads. Rest assured, you'll be out sooner than you think.
 
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Daily driver: Jeep GC Overland diesel
Fun vehicles: 911 Carrera S
Harley Ultra CVO & Heritage Softail Springer
The Porsche rarely is in the office parking lot during hours although I do take the bikes (weather permitting) regularly.
 
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I drive a 2002 Saturn SL2 to work
Wife drives a 2013 Infiniti G37S

Planning to lease a 2018 Mercedes GLS 450/550 next year.

The saturn has a broken AC and driving around in Texas with no cold air ES NO BUENO!
 
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As gaudy as it looks, the wrap looks pretty cool. Reminds me of first class in Emirates.
There is nothing cool about this monstrosity!
And he needs over two parking spaces while he shops for used furniture...
 
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Daily: 2006 Toyota Sienna LE
Weekend car: 2006 Toyota Sienna LE
Car I drive because wife won't let me buy any other car: 2006 Toyota Sienna LE
 
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Daily: 2006 Toyota Sienna LE
Weekend car: 2006 Toyota Sienna LE
Car I drive because wife won't let me buy any other car: 2006 Toyota Sienna LE

I can't judge your wife, but seeing that you are still in dental school, she may be doing it for the greater financial good. Don't worry though, once you graduate, you'll be making a lot more and hopefully get yourself a new or slightly used vehicle. Do you have kids?
 
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There is nothing cool about this monstrosity!
And he needs over two parking spaces while he shops for used furniture...

Haha, I wanted to point out that only the wrap is nice (and may look nice on a vehicle with the right type of vehicle, rims, etc..). The whole thing is indeed a monstrosity.
 
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I drive a 15 year old honda civic. I feel like it's gonna overheat if I drive more than 50 miles so I only use it to go to school which is about 7 miles long.

I don't care about cars as long as it has AC and takes me to places.
 
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And I'm over here with sharing my half-broken-down 1998 Toyota Avalon which always veers to the left for some reason with my roomate and a few friends. Haha. I can't wait to get out of school and start making some money of my own :) Tesla would be cool, but maybe a bit out of my price range haha.

-Fyz
 
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And I'm over here with sharing my half-broken-down 1998 Toyota Avalon which always veers to the left for some reason with my roomate and a few friends. Haha. I can't wait to get out of school and start making some money of my own :) Tesla would be cool, but maybe a bit out of my price range haha.

-Fyz
By the time you graduate used model 3s will probably be on the market, and competition from other car makers will drive prices down!
 
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Current car substitute is a road bike. Quicker than the bus, no insurance, and no gas costs. Groceries are a hassle.

Would prefer an Aston Martin as soon as possible.
 
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I drive a 15 year old honda civic. I feel like it's gonna overheat if I drive more than 50 miles so I only use it to go to school which is about 7 miles long.

I don't care about cars as long as it has AC and takes me to places.
It's nice to not have expensive tastes. Must be really tough to be a car aficionado with low income.
 
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a couple of years old MB sedan.

id rather dump my money into new practices and business opportunities than something that depreciates by the nanosecond as soon as i drive it off the lot.
 
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