Skyhigh, you argument lacks one key point.

If you are going to talk "time value of money", then please do it correctly. You have to discount that 1,300,000 figure back to the present value. A dollar today is not worth a dollar tomorrow. In other words, that 1.3 mil is worth a lot less in today's money standards. It depends on the discount rate.

Also, becoming a doctor is a profession that is on the decline. Doctors do not make money until they are around 35, and have an astronomical amount of debt built up. With rising insurance costs, the medical profession is becoming less lucrative. Do the "time value of money" on the student loans for med students.

 

Skyhigh is correct. The time value of money is based on the concept that a dollar today is worth more than a dollar tomarrow. If you had a dollar today you can invest it and make some interest, you cannot do that if you don't have a dollar today. The future value of 150k at 6 percent for 35 years is north of 1.6 million.

 

I can assure you it is NOT on a decline. It depends on what type of doctor you become as far as how much money you will make and when. Yes the debts are higher but the payoff in the end is greater. Residency pay by far beats regional airline pay. The medical field in general is always going to be a very secure choice. Physicial Assistants are making more then they ever did, and that just takes 4 year degree(100K+). Even nurses are making more then most regional captains. There is and always will be a demand for medical professionals now and in the future. You can't really begin to compare pilots to doctors. Yes your training costs are high, but the payoff is very low and not nearly as secure.

by the way, hope you guys like the new avatar

 

JMT-
I did make a mistake, my apologies for the typo. A dollar today is worth more than a dollar tommorow.

 

Well there you go kids. Taking on a flying career means accepting high education and training costs to revieve low pay and an insecure future. Why the entire prospect is silly really.

I happen to have a friend who at 38 quit flying to become a PA and tomorrow happens to be his first paid day on the job. He will be making over 85K his first year and more than 100K the next. Home every night and can live anywhere and find a job within hours.

There is no comparison. Flying for a living is just plain silly. We all need to grow up and get real jobs.

Skyhigh

 

Skyhigh, you are a real treat. Do you not have anything else to do?

 

Sure I have lots to do but this is my hobby. Its fun.

SkyHigh

 

I really like your avatar, she a real nice looking girl. SEXY. REAL SEXY.

 

The biggest fallacy with this, and with what I am assuming it is based off of, is that it assumes you have all that money right now. If you have all that money at age 18, then obviously you have a job or personal business that makes you enough money that you don't have to go school. You are starting off pretty well.

Now realistically you will not have that money at age 18 when you are making a decision on college. I am in college right now, I have scholarships, financial aid, some loans, and am working. So to say well just invest all that money and dont go to school, is easier said than done, because I do not have all that money ready upfront, and I highly doubt that a majority of students have that type of money upfront. I am paying as I go, and that is what most students do. You pay a semester at a time, not all four years upfront.

The whole thing is based on an 18 year old having 150k, which I think is very unrealistic. So the point can be made that yea you would have more money, but you also started off in a position where you have alot of money, since that is 150k of disposable money, spendable cash, aside from the cost of living.

 

Ding Ding........Winner