Is Medical School Debt Worth it?
Many Students ask me this question after completing their High School. Medical Education is so much costly that to take that education, most of the students have to go in a deep debt up to their eyeballs. I myself is a Medical Student so I can understand this pain very well.
Well, my straight forward answer is - Medical Debt is worth it if you really want to become a doctor and to serve the human being. After all everyone of us will require Medical services thorugh out our life.
And yes, Medical School debt is not at all worth it if your sole goal is to get rich in your life. Let me explain you how? Well, see. medical education takes minimum 1 decade to finish. And by that time the same amount of money that you have spend behind your medical education could have grown like anything if you have invested that money somewhere else.
Accept it. This is a Hard fact. If someone starts his own Business just after finishing the high school and at the same time some other student enters into the medical school than after 20 years the person who started his own business will be much more richer than a doctor.
This is because a doctor starts earning after 10 years from high school. And for the first 5-10 years he repay all of his medical school debt that he had taken to complete the medical education. Now, during the same time, money invested in your own business could have make you a Billionaire....!!!! Yes, Billionaire... And if not the billionaire than by sure shot multi-millionaire.
But of course, not the every start-up business grows into a multi-million or a billion dollar business. Statistics show that 99 out of 100 start-up businesses fail before its fifth anniversary. And that's why if you are a schoar student and want to play it safe than join the medical school. Medical Debt is worth for you if you want to play it safe.
However, if you want to change the world by doing some excellent business than Medical debt is not at all worth it. Take the Example Bloggers & Internet entrepreneurs around the world. Most of the Internet Entrepreneurs aroud the world are in their twenties and many are below 21. And many of them are making literally 6 figure income from their Internet Businesses in their twenties.
And the best thing about this income is that, its the passive income. So you have to work hard at once to develop that income. Once you do the hard work, your job is over. After that weather you work or not the income from your internet business will keep flowing into your bank account weather you sleep or travel the world.
Many of these Internet entrepreneurs will retire in their early thirties when a medical school graduate or a specialist doctor starts earning. Can you believe that people around the world are generating the wealth at this much faster rate?
You can read such stories on this blog. I have posted several stories about the youn Internet Entrepreneurs who have made fortunes in their twenties. Just search this blog more and read more about them.
So now, you think and decide yourself that weather the Medical School Debt will be worth for you or not? Plese let me know that what you have decided by commenting on this article...!!!