For Ashley Chorath and Andrew Tiu, things have changed significantly since the beginning of the year. As doctors — Tiu is a resident physician in internal medicine and Chorath is a resident physician in radiology — the couple has been on the front line of the pandemic and seen first-hand the toll it takes on both patients and health-care workers.
Both Andrew Tiu and Ashley Chorath are resident physicians, although they work at different hospitals.Although the couple live a full life together in Philadelphia, where they like to try new restaurants and explore the city by bike, money is always top of mind. But it's also a topic that unites them, as they learned early on in their relationship that their financial values are closely aligned.
Chorath and Tiu are careful to protect themselves and their patients throughout the coronavirus pandemic.You don't start earning a six-figure doctor's salary until up to seven years into your career, Chorath says. When you're in the brunt of it, it's a lot harder to see your high school and college classmates driving BMWs and buying houses when you're still making $55,000, working 70 hours a week and have $300,000 in debt.Growing up in the Philippines, Tiu's dad drove an ambulance for free, taking patients to the nearest hospital two hours away, which inspired him to become a nurse.
MakeIt She hates his mom 😭
MakeIt Don't buy $500 Air pods. Don't spend your savings on Christmas Gifts. Have a budget. Live and spin with in your means.
MakeIt Join the military.
MakeIt nice
MakeIt Physicians get paid only $60k😟
MakeIt Work for ❤️ not 💵
MakeIt Pay the student loan first folks
MakeIt You see this young couple in 40 yrs will be what bernie sander and democrat party call rich. These two in 40 yrs will top out as millionare in there final years if they simply stick it out and grind gaining exp and raises with smart choices.
MakeIt Oh wow! Andrew!
MakeIt They don't live together, so the majority of their expenses are separate. I don't think that's the typical experience for couples and I don't understand why you are referring to their combined income.
MakeIt MoneyManagement
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MakeIt Learn diversified investing well + pay it off, gradually❤️
MakeIt Try having that bill and earning $10-$15 an hour
MakeIt Time to follow the BabySteps DebtSnowball GazelleIntense DaveRamsey
MakeIt Once board certified, all specialties are going to make 6 figures a year. Considering you can spend 30-40 years in medicine, they're going to be high wage earners for most of their careers.
MakeIt Future earning of these two physicians will be astronomical, unless they're quacks. This article shouldn't have mentioned their profession.
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MakeIt It’s residency, the goal is training and not making your full salary yet as technically you are not independent and work under a supervising physician. Yes school loans are outrageous (a separate issue), but after 4yr residency, pay will be 3-6X that
MakeIt They are RESIDENTS with only $180k debt. They will do just fine...
MakeIt Should we start a GoFundMe? They’re doing great and will make a fortune over their careers. $2,700 a month going into savings? 99% of adults aren’t doing that.
MakeIt Combined salaries will helpthem win and the banks love them. The salary seem low for a doctor. However, they have job security and they have sacrificed time and money to help other people. However, I have heard some oncology (ist) doctor’s who said they chose it for the money.
MakeIt A Filipino lawyer can earn double or triple the amount of $118, 000 a year, and usually earns more than a Filipino doctor.
MakeIt Tell them to move in with parents and in one year they will pay it off. What nonsense.
MakeIt Just wait if Kamala gets her one payer medical system. Doctors will make 30k to 50k under that plan. Nurses and other professionals will take a paycut as well.
MakeIt Fair enough, investment on the future. If they are not happy with the debt, they can quit the study. No free lunch
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MakeIt Poor people are the ones who bailed out at the bottom'V' 2008 and March 2020.
MakeIt 200k debt for students who entered college 10 years ago. Make that 500k for new students. Has education improved so much in the last 10 years? Harvard Et Al want more money to invest in US prison system.
MakeIt Everyone knows residents don't make much. They'll be fine once they finish their residency.
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MakeIt THIS IS WHY I'D NEVER BECOME A DOCTOR
MakeIt What did Obama Biden do about student debt while in office 8 years ?
MakeIt After medical school, residency, and fellowship, a physician who is earning a high professional income may not reach zero net worth and then start building equity until an age that’s a decade or more beyond that of those who took an easier path.
MakeIt These guys should follow PhysicianOnFIRE . After reading the full article I don’t think these guys will have a problem becoming financially independent quickly. The flip side to this is will they be comfortable spending money down the road and living life to the full .
MakeIt So? Try having nothing but debt...
MakeIt Easier to go to PA school, start earning in early twenties and compound the investment gains than waiting until mid 30s to finish training, then start from scratch, already in debt.
MakeIt Ain’t it crazy how you gotta go in debt to literally help people. And then athletes get millions
MakeIt Well this is a depressing article for future doctors. It’s totally upside down that we don’t have programs for more people to get MDs without back-breaking debt.
MakeIt I did the exact same as them. After school you have to switch over to REPAYE program til residency is over. However, I started businesses on the side which outpaced and surpassed my job in the medical field so I left. I sometimes regret going to school that long.
MakeIt This should be paid off in CASH in 17 months. Not that hard.
MakeIt You think I have a shred of sympathy for someone making $118k that can’t pay off $180k in debt?