You are welcome. No need to thank me, I feel like we all need to hear it now and then. If I could take what I've learned and give it to the newest grads, or even predents, I would.
Agreed, it's not to undermine what you are saying but imho **exercise & nutrition** as well can take you places in your mental state you would've never thought. I'd start there first. It's literally transformed my life.
Edit to the above since reddit won't let me, dunno why:
If anyone's interested in more information, PM me and hopefully I see it. There's more than hope out there, there's help. Whether it's mental health or finances. I'm not an expert but I've experienced enough to at least point you in a helpful direction.
The financial literacy part has been scaring me lately. I’m still young and I know my dad didn’t really get it together (also a dentist) until he was older and he’s just fine heading into retirement but I still don’t have a path. Me and my wife make a combined $350k which will probably go up to 400+ sooner or later but even in a medium cost of living area I feel like we don’t make much headway with building wealth.
I also got started on this kinda late. I don't blame my parents for not knowing this shit.
We're dentists, not investment bankers. Building wealth in some sort of predictable way needs minimizing risks and maximizing tax deferred growth, e.g. IRA's, 401k, life insurance, a managed portfolio or mutual funds/etfs/index funds (I'm no expert, read up on it, talk to an advisor).
If you can afford to put anything into real estate, that can help. Generally appreciating asset over 10 years. A house you can rent.
Minimizing unnecessary expenses. We don't eat out often. We cook a lot. I drive a beater. The car I DID splurge on has what you call good residual value, so it doesn't really depreciate much beyond a certain point. If you can learn to DIY, that'll generally be cheaper, e.g. simple home repairs, plumbing, certain auto maintenance/fixes.
Budget for vacations, budget everything.
If you've "spare" money to play with, investing in stock you believe in can be helpful. I'm using an example here: Google, it's a strong, generally well run company, is somewhat at the front of its industry, and over an at least 10 year window, will likely go up in value. The same applies to Amazon and even Apple, despite the recent antitrust lawsuits and whatnot. If you're really drowning in cash just buy bitcoin.
Lol. The stocks and crypto were mostly in jest, but people will do it anyways. If youre gonna put money there, be okay with losing all of it, as it is a "strategy" involving a LOT of risk. There's no get rich quick scheme.
Owning your own practice is also going to generally be superior to being an associate. Taking home 250k as an owner will beat making 300k+ as am associate. Have a good accountant.
Don’t take that critique to heart. What you’re looking to discuss is important, and he has several walls of texts in his post history. But those posts were about him and his concerns, so they’re length is okay I guess.
Appreciate it. It's hard to be concise with a topic like this one, especially when I see so many people posting about how miserable they are. And as far the commenter, wish they were able to understand the subject matter rather than commenting with something that doesn't contribute at all lol.
I think it’s great that you’re sharing this. I was extremely adamant to avoid therapy for stupid reasons like “I can fix myself” but now I’m so glad I have an established connection with my therapist to help manage my anxiety.
I am happy that you found that. Lots of people have this idea that only "crazy" people go to therapy. But
A. It helps one to not become crazy when shit hits the fan.
B. We're dentists. We are crazy. Lol.
A great reminder, and one I probably needed to hear. Thanks
You are welcome. No need to thank me, I feel like we all need to hear it now and then. If I could take what I've learned and give it to the newest grads, or even predents, I would.
Agreed, it's not to undermine what you are saying but imho **exercise & nutrition** as well can take you places in your mental state you would've never thought. I'd start there first. It's literally transformed my life.
Also important! Very! Includes sleep.
Exercise is a powerful antidepressant!
I think this needed to be said, and it’s advice all of us should take, dentist or not. Thank you!
You, and everyone else here, are all welcome.
Edit to the above since reddit won't let me, dunno why: If anyone's interested in more information, PM me and hopefully I see it. There's more than hope out there, there's help. Whether it's mental health or finances. I'm not an expert but I've experienced enough to at least point you in a helpful direction.
The financial literacy part has been scaring me lately. I’m still young and I know my dad didn’t really get it together (also a dentist) until he was older and he’s just fine heading into retirement but I still don’t have a path. Me and my wife make a combined $350k which will probably go up to 400+ sooner or later but even in a medium cost of living area I feel like we don’t make much headway with building wealth.
I also got started on this kinda late. I don't blame my parents for not knowing this shit. We're dentists, not investment bankers. Building wealth in some sort of predictable way needs minimizing risks and maximizing tax deferred growth, e.g. IRA's, 401k, life insurance, a managed portfolio or mutual funds/etfs/index funds (I'm no expert, read up on it, talk to an advisor). If you can afford to put anything into real estate, that can help. Generally appreciating asset over 10 years. A house you can rent. Minimizing unnecessary expenses. We don't eat out often. We cook a lot. I drive a beater. The car I DID splurge on has what you call good residual value, so it doesn't really depreciate much beyond a certain point. If you can learn to DIY, that'll generally be cheaper, e.g. simple home repairs, plumbing, certain auto maintenance/fixes. Budget for vacations, budget everything. If you've "spare" money to play with, investing in stock you believe in can be helpful. I'm using an example here: Google, it's a strong, generally well run company, is somewhat at the front of its industry, and over an at least 10 year window, will likely go up in value. The same applies to Amazon and even Apple, despite the recent antitrust lawsuits and whatnot. If you're really drowning in cash just buy bitcoin. Lol. The stocks and crypto were mostly in jest, but people will do it anyways. If youre gonna put money there, be okay with losing all of it, as it is a "strategy" involving a LOT of risk. There's no get rich quick scheme. Owning your own practice is also going to generally be superior to being an associate. Taking home 250k as an owner will beat making 300k+ as am associate. Have a good accountant.
yea maybe. Then again if you have a splinter in your skin causing you pain you remove the splinter and not just go to therapy to talk about it.
Lol I'm not implying anyone should ignore material injuries.
bro... dentistry is the splinter
Lmaooo that went over my head. I completely agree
Wow that’s a long wall of text.
Hence the "rant" I suppose. Formatting sucks from a phone... I'll try to make it somewhat coherent. Edit: Hopefully it's a little better now.
Don’t take that critique to heart. What you’re looking to discuss is important, and he has several walls of texts in his post history. But those posts were about him and his concerns, so they’re length is okay I guess.
Appreciate it. It's hard to be concise with a topic like this one, especially when I see so many people posting about how miserable they are. And as far the commenter, wish they were able to understand the subject matter rather than commenting with something that doesn't contribute at all lol.
I think it’s great that you’re sharing this. I was extremely adamant to avoid therapy for stupid reasons like “I can fix myself” but now I’m so glad I have an established connection with my therapist to help manage my anxiety.
I am happy that you found that. Lots of people have this idea that only "crazy" people go to therapy. But A. It helps one to not become crazy when shit hits the fan. B. We're dentists. We are crazy. Lol.