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Reply to "Can't afford private - taking out $800k mortgage - anyone else?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous].[/quote] Doctors - the could afford the tuition...[/quote] They both practice family medicine and own a shared practice - they pay out way more expenses to run their practice (equipment, maintenance, staff salaries, health care, malpractice insurance, etc) than they take in profits for themselves. They are in their late 50s and still working 70 hour weeks. So $200K each ($250k in a good year, if Medicare paid quickly and insurance didn't rise too much) isn't so crazy. They've never owned a luxury car, have always driven Toyota sedans. They didn't even renovate their kitchen until my GF finished college. They strictly budgeted all through my GFs childhood and college to ensure they could cover massive tuition bills ($100K/year for 8 years). Like I said, if you're going the private route, you go big or go home. It takes lots of fiscal discipline, even for upper middle class folks.[/quote]
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