I'm a Doctor! But Wait, I'm Still Poor

This statement is a very accurate depiction of what my friends and colleagues experience right after graduating from medical school. Fortunately, we're all warned ahead of time but it still stings a little. The hardest part is having to explain to friends and family that even though I'm officially a doctor, I'm not rich (yet). Unfortunately, doctors do not make a lot of money during residency and that's due to systematic issues beyond our control. Therefore, the potential realities of having a big house, driving a nice car, and wearing fancy clothes are still far, far out of reach.

As of 2017, the average salary for a first-year resident is $53,100. It's certainly more money than I had to spend during med school but it's very far from being rich. It's definitely true that you can't go into medicine for the money. There are other career routes that will get you there faster. I was having this conversation with one of my close friends and she said, “well you’re rich in experiences!” to which I said, “Umm...that definitely won’t pay the bills.”

So, if you see me still being thrifty (my fancy word for cheap), it's because of the way my bank account is currently set up. In all honesty though, I'll probably never stop being thrifty and trying to spend wisely. That's the key to financial prosperity and hopefully living more comfortably in the future.