r/financialindependence • u/fidgit86 • 9d ago

What do you do that you earn six figures?

It seems like a lot of people make a lot of money and it seems like I’m missing out on something. So those of you that do, whats your occupation that pays so well?

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u/Obecalp86 9d ago

Physician.

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u/r5d400 9d ago

I feel physicians are so underrepresented in the finance subreddits. like, I get that doctors take a while to make good money due to all the years of schooling, but once they're done with that, it's huge salaries all the way.

and yet they still don't show up much to these subreddits

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u/Obecalp86 9d ago

Many docs are financially illiterate which may be why they’re underrepresented. Also, many don’t start making a high salary until mid-30’s. Many of my colleagues go straight for the million dollar house and expensive car while they’re not maxing out payments on their $200k+ student loans. Can’t remember the exact number, but a large minority of doctors in their 60’s have a net worth <$1mil, which should be “impossible” for individuals making $200-500k/year (or sometimes more).

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u/OneHourRetiring 9d ago edited 9d ago

Problem that most don't know is that docs are also burden with high insurance (namely to fend off lawsuits). Younger brother is an OB/GYN and at 54, he should have been retired, but he is still at it .... paying off the house, the five cars (for three persons household!), bad real estates investment, high malpractice insurance premiums, and tons of machines including the da Vinci Surgical System that didn't pan out (he had to sell it at substantially reduced price to local hospital, but at least he is the leading authority to operate with it ... LOL!)

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u/Rnaofo 9d ago

Why on earth would he purchase a Da Vinci Surgical System if he’s an OB/GYN? It’s not like the system can assist with delivery like the curved paddle that handled Padme’s newborn in Star Wars.

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u/OneHourRetiring 9d ago edited 9d ago

He was doing surgeries like laparoscopic on the gynecology side of the practice. This was when he wanted cut back on delivering the kiddos. He didn’t get enough cases to pay for the couple of millions that it costs.