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Guidance aimed at those in the medical field, when financing while in Res/Fellowship.

Discussion in 'Model S: Ordering, Production, Delivery' started by JohnSnowNW, Dec 22, 2015.

  1. cmu5p

    cmu5p Member

    Feb 3, 2015
    Shenandoah Valley, VA
    Good move, JonSnow. It is so easy to buy things. So easy to accumulate "stuff". Get settled and comfortable, you won't regret your decision when time comes.

    @calisnow- Thanks for the harsh, but realistic advice. I wish every graduating resident could hear your words. Money management should be a part of the curriculum.
  2. Model S M.D.

    Model S M.D. Ludicrous Radiologist

    Oct 31, 2015
    Houston, TX
    Anesthesia, Rads, and Derm start around that number, not just surgical subspecialties and cards as mentioned before :)

    Anyway, best of luck to the OP! I totally agree with living in a safe home/neighborhood first and foremost. The Tesla can wait!
  3. Magus

    Magus Member

    May 19, 2015
    #63 Magus, Jan 18, 2016
    Last edited: Jan 18, 2016
    Smart move OP.

    Wrote an opinion earlier in this thread that I am redacting to a degree. Was in strong support of the OP obtaining a Model X. My salary was threatened (though no fault of my own). Agree with the comment about physicians essentially being an expensive slave. While I don't regret purchasing my Model S, my situation is tentative. While I am financially stable, I would have more flexibility with the money I've paid towards my S. The money going into payments, if invested, are thought to result in significant retirement or other savings. Agree with the poster who said 90% of physicians are financially illiterate. On the other hand I don't see myself retiring early.

    At this point, my Model S has lost value simply from owning it. It seems pointless to sell, even by the time the Model III is available. I'm going to stick with my Model S for a long time. I do love my S, and have never enjoyed a purchase this much. In retrospect, it would have been a lot smarter to wait for the Model III. Regardless, I supported the movement and am living one dream early. My S has avoided one certain accident already. Disability from a car accident is one thing I never have to worry about in my S.
  4. grichard

    grichard Member De-Luxe

    Oct 2, 2015
    St. Louis, MO
    Heh. I can sympathize! My Model S is parked in its garage, here in my house about a mile from Ferguson, MO. Not, in fact, in a bad neighborhood, but--as you say--definitely not a wealthy one.

    We bought the place when we were interns (rads and anest) in 2000, and never saw the need to move. I occasionally worry about the car making us a target, too. But Teslas themselves are rarely stolen, and the rest of our house looks pretty uninteresting.

    Anyway, if I come home one evening and the house is cleaned out, I'll definitely report back. Good luck with your decision!
  5. calisnow

    calisnow Active Member

    Oct 11, 2014
    Los Angeles
    Thanks, you're very kind. I will have to go through my boxes of college textbooks to find what we used - it's been some years. As for "Margin of Safety" - you will find it sells for over $1,000 on Amazon. Instead go find the pdf file which is floating all over the internet - the author will not mind. Seth Klarman is a billionaire hedge fund manager who wrote this book years ago. It had a very limited printing of only a few thousand copies and was never printed again, and Klarman has always declined to print more. It gradually gained a cult following and thus the price has shot through the roof. But free pdf files are all over the place - again, since you aren't costing the author one penny in lost sales I don't think he'd mind if you printed the pdf. I'll look for the other books and pm you, but the concepts are universal and there are many good books. Probably even Kahn Academy has good videos - I'll check on those also.
  6. GoTslaGo

    GoTslaGo Learning Member

    Dec 25, 2015
    #66 GoTslaGo, Jan 19, 2016
    Last edited: Jan 19, 2016
    Yes! I got whiplash from the sticker shock on "Margin of Safety". Thanks for the advice on searching for the pdf, will try to do that. Thanks again!

    I just realized I am an idiot. You gave me the courses, so all I had to do was type in "introduction to X" in Amazon. Voila! Thanks again! No need to trouble yourself with the books. Already done!

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