Reply to Daughter married a doctor, he’s pressuring her to pay off his student debt

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Did they not discuss before marriage how they planned to handle that debt?[/quote]
Of course not. Daughter had $$$ in her eyes to marry a doctor. Clock was ticking to lock him down and start having kids. When you’re in that mode you don’t give concerns to trivial things like compatibility, debt, social issues, extended family involvement, alcohol, etc. It’s just a race down the aisle. [/quote]

+1. I don’t agree with the daughter paying off her husband’s loans, but people are seriously stupid about financial and general life prospects of doctors. Unless they’re from a rich family, they have crazy debt, crappy work life balance, unless they take a lower paying job, and the higher paying specialties don’t pay enough to justify the other bad stuff like stress, being on call, limited vacation time, navigating bureaucracy, etc.[/quote]

Not true at all. While the training years suck, we know several specialists in private practice making $500k+ working 40-45 hour weeks and only taking home call a weekend every other month. [/quote]

500k after so many years of training and crazy debt is not great. It’s worth it if you have no debt though.[/quote]

I'm not sure your opinion makes mathematical sense.  I mean, let's say all things stagnant --  Thirty years of $500k salary plus $400k debt VS thirty years of $150k salary.  Seems like a no brainer to take on the $400k debt.[/quote]

Is this a joke? Doctors’ earning years are substantially lower because of the length of education and training. The ones who make 500k+ start earning 10 or more years later than someone who graduated college and started working.

Plus, money saved earlier compounds and grows over the years, so the person making 150k, if they didn’t squander all their earnings, already has a nice amount accumulated by the time the dr starts making money. And the medical school debt has accrued a ridiculous amount of interest during training too. Unless the doctor is a smart investor, which they often don’t have the time or interest to be, they end up worse off than people who make less. [/quote]
Nonsense. I work in a hospital and no doctor is struggling financially. Their job security is also rock solid.[/quote]

This is all basic finance, magic of compounding, early investing and all that. How do you know no doctor is struggling financially? Because you work in a hospital and have seen them driving their Tesla’s and Range Rovers? Lol[/quote]

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