Reply to More Teachers become millionaires than doctors?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Docs have lots of student debt and they don't start earning big bucks late into life and that's if they don't go into gen peds, family practice etc.

Docs also spend more on lifestyle, divorce, insurance and taxes.

That being said, even after all that, they can't be behind teachers. Its not adding up.[/quote]

It's not that they are behind teachers--it's just fewer of them are millionaires than teachers.  That's likely because 1) there are more teachers, 2) some doctors never really financially recover from the medical education debt because they are not great with money and choose a relatively low-paying specialty and 3) a million really isn't that much in retirement.  If the bar was 5 or 10 million there would likely be more doctors than teachers at that level.[/quote]

Not likely. Definitely. This is a silly comparison because it entirely rests upon that there are far more retired teachers than retired doctors. So there are more "millionaire" retired teachers than retired doctors. But it is also grossly misleading. Your average retired teacher does not have millions and millions in retirement accounts. But your average retired doctor will.

My mother is a retired teacher who is also a "millionaire" but that's because she's married to my father, who is a retired doctor. You can google and find the average retired teacher's pension in every state and it is far from a millionaire's lifestyle. [/quote]

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