Dr. Kevin Jubbal raises some really good points. Many people have this misconception that doctors are the mega wealthy in society and that is one of the major problems with why medical expenses are outrageously high. While it may be true for the older generation of doctors that had very low tuition costs may years ago, the reality is that the average tuition cost to attend medical school today is debilitating. The compound interest and high interest rates financially imprison physicians. They become slaves to the financial institutions and majority spend a vast amount of their careers paying three times over of what it cost to attend medical school. Doctors must make high salaries impart to just keep up with the interest alone on their medical loans. As a duel citizen I have borrowed student loans in both New Zealand and America. While both systems have high educational costs, the repayment programs couldn’t be more different. New Zealand has no interest but takes out a certain percentage from your salary to pay back your student loans. It seems that they want to help you get educated and make sure you can pay back exactly what you borrowed. In America it seems that the system doesn’t want us to succeed, Doctors have twenty to Thirty grand of interest annually alone. They are buried by the greed of financial institutions. It makes sense in other types of loans that are risks and are for financial motives, but student loans are purely for obtaining a specific skill set to contribute to society. There is almost no financial motive for an American to pursue medicine because of the debilitating debt. Doctors are also guilty of being a part of the problem. I really liked how Dr. Jubbal addressed that so many physicians immediately out of med school have a mentality that they must maintain a certain image. It is a dangerous road to live beyond ones means because not only does it add an increased financial burden on an already overly stressed career, but it also portrays a certain kind of message to the people we are treating in medicine. Everyone is entitled to how they want to live their life, but showing up to the clinic in a Mercedes when many patients are struggling to pay rent let alone their medical bills has a certain amount of arrogance and lack of sympathy. It is important that physicians are responsible for how they use money and what kind of unspoken message they are showing their patients. I think most of Americans agrees that medicine has become outrageously expensive. Society needs to have more conversations on how to fix parts of the system that are broken and improve the system to benefit patients and providers alike. Maybe there is a need to regulate the parts of the system that are over profiting or taking advantage of the patient and struggling medical students. We need to address the injustices on both side of medicine.

I entered medicine because my parents wanted me to become a lawyer, I've always like science and thought it'd be a practical skill to learn, but boy was I surprised what I cluelessly got myself into lol! I didn't fail any class, did my internship, and got my degree. now I'm kinda just holding it, not knowing what to do. hell nahhh I'm going back there.

because they spend too much and don't save enough

@appollo1826

Жыл бұрын

Perfect comment.

@killthemall55

Жыл бұрын

Right, mechanical engineer friend of mine has a friend who is single and make over 6 figures yet have no savings. Starting at certain point, it comes down to financial discipline than the amount you make.

@user-zu6fe9nk6u

Жыл бұрын

@@killthemall55 its the stress!!

@RedMokaa

Жыл бұрын

Savng make you broke

It also depends greatly on where you live. $250k-$500k is WAY more money in Omaha or Birmingham than San Jose or Miami. An equal home in suburban Oklahoma City can literally be a million dollars cheaper than in LA.

@rsb7608

9 ай бұрын

That is way more money ANYWHERE

Former 4th year med student here... He's absolutely correct on all the talking points in this video. Also, COVID changed everything. People /patients changed and antivaxxers threats to sue adds to the pressure. 6/10 doctors I've met in rotations had divorce settlements, child support payments, or some form of addiction.. All due to the stress. It's far better to be a doctor in Europe or Canada because of the lifestyle. In America, anyone can sue a doctor to get ahead in life with a court settlement. Little legal protection. So a doctor would have done all those years of hard work go to waste in court. In 2022, I change my career to IT and getting a master's degree. My 2 cents.

@chillingdog4139

Жыл бұрын

I agree, we had a debriefing in hospital about everyone's lifestyle. There are a few doctor that mention that their ex wife are more richer than a doctor cuz of child support. America is worst to lived in.

Was wondering if you could do a video discussing the different business opportunities outside of medicine that are available for specific specialties.

@searchingfortruth619

2 ай бұрын

Hey bro, love this idea. Wish they would talk about it more in med school.

Whatever you said about doctor being rich or not , when you are not interested in maths, physics and only love biology , I think it’s a best career Choices for us who love biology and human body. If I didn’t study medicine I will regret it forever even if I was a millionaire..

@18ipi

Жыл бұрын

While it is true that an interest in biology and other natural sciences is important, maybe even vital to survive medical school, I don't think it should be the only motivation to become a doctor. Once you enter your clinical rotation or start working (depending on the specialty of course) chemistry, biology etc. become less important and it comes more down to understanding pathophysiology, pharmacology, diagnostic thinking and disease management, practical skills, bedside manner and so much more. If you are just interested in maths, chemistry, biology there many other things you can study and work in.

@appollo1826

Жыл бұрын

You could have been a physical therapist, physician assistant, chiropractor and more. They all deal biology. I believe some people reasoning are not truthful or they never really thought about the why.

@subodhacharya3239

Жыл бұрын

@@appollo1826 compare the scope between those course and medicine .

Great info!

03:27 - Missing Investing Opportunities. Yes, I can relate that to myself. For the past 2-3 months, I have been following one of the stocks falling down,. I knew it would fall further and I planned to buy it at a very bottom. However, I was busy with medicine and forgot to keep track. Eventually, the stock went up 60% in 1 month. Sadly, I didn't buy it. I guess I have to stay busy with medicine and stay poor.

Number 3 is the worst mind trick in the world. You dont have to improve your living right out school. I mean who are you improving for. The Mcmansion will be there one you can pay off your debt , so why get into more debt? I hate when I see people who just got out of college a degree and they buy a new car while their new car still looks and run good. Then complain about the payments less than 6 months into paying for the car. I dont advocate to people about anything anymore because before they just dont listen to me but will claim Im right years later after refinancing another new vehicle. I guess people love consumer debt too much or they are brainwashed into believing this is the way to go.

Hey Kevin... car guy to car guy.... love that yellow CLK-GTR sitting on your shelf there. My fav! ;-)

What compound interest account or investment do you have

For the amount of work and dedication required to get to a point of making a livable salary, we are always underpaid. No matter how much a doctor makes, he will always be underpaid for the work he does. If you disagree, try med school

@beavermcdoogles

Жыл бұрын

try living on a minimum wage job instead

@jacobwiseman1446

10 ай бұрын

Typical narcissistic comment. Lol

@LyraTyrell

4 ай бұрын

I'm a doctor and had 3 other jobs before hand (teacher, bench science, manual labor). Being in medicine has been the easiest of the three and the highest paying by far. I feel like only the people who go straight through from undergrad don't appreciate the jobs we do for the pay we get.

@searchingfortruth619

2 ай бұрын

​@@LyraTyrellmedicine isn't necessarily physically demanding, but there's a tremendous amount of risk taken on, hence malpractice insurance. A lot of medicine is about having good relationships with your patients so that they're nice to you if you mess up, cuz we're all human. It's also supply and demand: large demand for medical care, low supply of ppl capable of becoming physicians. Case in point, there are plenty of people who become physicians that are quite mediocre, or worse. So if you're a good physician, your services, logically, would have a large compensation.

@emedlearning9035

Ай бұрын

@@LyraTyrell agree with you , easier jobs

SOME MEDICAL DOCTORS ARE ON EXTRA CARE TO THE PATIENTS WHILE STAYING REASONABLE ON BILLINGS.

you should do a video on which specialities can do private practice (business) and which can’t

@amelcatic2427

Жыл бұрын

All of them

@TheeEmperor

Жыл бұрын

@@amelcatic2427 what about something like pathology, they’re not really specialties that people book appointments with at a private clinic with like dermatology for example

The amount of money spent of healthcare has exploded over the years. I believe physician compensation used to account for appx 15% of all the money, but now it's less than 10%. And the nurses have strong unions, so their salaries tend to be pretty normal, and the difference between doctor vs nurse salary has shrunk over the years. There are two big winners: hospitals and insurance companies.

I can relate to this as an MD 😂

Let's not forget the relentless CMS cuts and obscene work hours, with money going to trying to buy some time and life back.

This vid is great.

6:18 The medical staff symbol you used is wrong(common mistake made even by medical community), The one which you used is a Caudeceus a symbol of hermes the Greek god of messengers, commerce(coincidence of the distrust and corruption in modern medicine), travellers, thieves etc. The actual staff does not have wings and only one snake which is the staff of Asclepius,Greek god of medicine.

@user-sk5so9mj1l

Жыл бұрын

🤓

@aboapu6

Жыл бұрын

He normally uses the rod of Asclepius on here but you'll see the Caduceus intermittently

@joelpayne5437

Жыл бұрын

omg, I have lost so much respect for him now🙄

yeah! disregarding pharma incentives given to doctors, and not to mention surgeons specially neuro-surgeons. nephro doctors also earns a lot next to oncologist and most hospital directors owns a RR.

@appollo1826

Жыл бұрын

Well hospital directors get paid almost or over a million dollar yearly, it makes sense.

“Lifestyle inflation” Yeah basically. When you can live off of $50,000 (still higher than the median income) and still put, on the very low end according to the search I just did + other videos of yours, $100,000/year back into your loans, there’s not really an excuse apart from just spending too much IMO. And then once your loans are paid off you could even allocate yourself more spending money and still make *huge* contributions to the investments of your choice.

@murraysolomon4924

Жыл бұрын

This will work in the midwest but not in the cities of the "coastal elites"

@appollo1826

Жыл бұрын

This method will work anywhere, the biggest problem is people mindset will change. That deserve factor will kick and you will start putting everything on a loan while making minimum payment on your consumer debt because youre almost done while never being done. It is a reason why the school loans are in the trillions of dollar and credit card debt I believe is in the billions of dollars, almost a trillion dollar.

SOME TRY TO OVERBILL AND GET FAILED.

Hi Dr. Jubbal. Do you know about any free medical school in Canada or USA

@hkim9151

Жыл бұрын

Lol…it does not exist….. you need to pay tuition fee or get a scholarship….

@joaquinvazquez43

24 күн бұрын

Gosh that would be nice wouldn't it? :'D

Very interesting video. I am selling my more expensive car to invest in a multi unjt and bought a less exp car still nice but cheaper.

In Canada, we have OSAP (Ontario Student Assistance Program). A program of the government which will pay you to rent, all your medical school costs and other things not only for medical school. And in the end, you don't have to pay it back (unless you to a loan with it, you have to pay the loan if you took it.

@TheeEmperor

Жыл бұрын

is that for people that are from Ontario canada only or also for people from outside who study there

@HSSMC112

Жыл бұрын

@@TheeEmperor according to google To be eligible to apply for financial assistance from the Ontario Student Assistance Program (OSAP), you must be a: Canadian citizen; Permanent resident; or. Convention Refugee or protected person

SOME TRY TO COMMIT FRAUD TO ADD EXTRA TESTS AND CHECKUP AND STAY IN JAIL.

SOME ARE CARELESS,SOME ARE SICK BY THEIRSELVES.

well, the average pay for a doctor here in greece is about 16k euros annually, reaching up to 30k if you become a chief of medicine. in the private sector it can reach about double these numbers, thus most of the "small" millionaires are doctors or their kids. and we're nowhere near the pay range the rest of the eu has, i won't even mention the states.

@darkdayzero

Жыл бұрын

16.000 Euros????? What????

@ifonlyunu994

Жыл бұрын

no student loans though.

I heard that certain physicians can have their loans forgiven if they work in a rural area for an x amount of time. I knew a young hospital attending who once told me that while he was in residency he worked 80hr/week but got paid less than nurses ($20 something an hr). He had to live frugally due to student loan debts and was driving an old Corolla.

@studiedgaming641

Жыл бұрын

That's is true but most doctors don't want to do that.

That CLK GTR tho…

Tbh the so called six figures didn't really attract me to medicine in the first place. Maybe I'm weird, though. I feel like I will be living much the same lifestyle as I did pre-medicine, just this time with much more work and expectations and people calling me "doctor" all the time now 😆

MORE CUSTOMERS AND MORE MONEY COME WITH CARE TO THE PATIANTS.

Look, all doctors with loans are the ones who live in America. Medicine in Europe is literally free. Its about choices. U can just study somewhere cheap and save urself from loans

@SuperSilverJay

Жыл бұрын

Can a non citizen in Europe still get free education?

@evatafaj9248

Жыл бұрын

@@SuperSilverJay Yeah totally There are places like italy that not only its cheap ,only 4000 euros but its very possible to get a scholarship even as non European..

Honestly the risk and commitment we go through isn't worth it.

@rsb7608

9 ай бұрын

Sure it is, don't lie to yourself

@emedlearning9035

Ай бұрын

Not worth 😂

What’s the best career to become rich?

@murraysolomon4924

Жыл бұрын

Trust fund baby

@appollo1826

Жыл бұрын

Egineering. most of them are rich before they turn 40.

@kialuvsyoo

Жыл бұрын

rich parents

ALL YOU HAVE TO PAY ENOUGH ENERGY TO TAKE CARE OFF YOUR PATIANTS.

🙏🙏🙏

I choosed this field for knowledge purpose not for just some sacs of money

@appollo1826

Жыл бұрын

Thats it, you could have choose any profession for it knowledge purpose but that cant be the reason why you want to be a doctor, right?

@fleckcadeau2382

Жыл бұрын

Why not research or academics? This generation of doctors is really starting to scare me.

@fleckcadeau2382

Жыл бұрын

@Falco Rosso I'm actually piggybacking off of your comment in agreement. I'm well aware of the research possibilities available to doctors as I am a medical student. Just as you referred to, if you only want a career for the enhancement of knowledge then medicine is an not the most conventional option for that. As most doctors are more involved in patient care than academics.

Because they don't have KZread channels?

I met my doctor while dumpster diving, I finally bought a house, but I still have my consults behind that Olive Garden. Poor fella 😩👌

In iraq if you’re a doctor you will get just 900$ a month 🙂

IF SOMEONE FROM THIS FIELD PROVOIDES PERMANENT SOLUTION TO THE PROBLEM,DEFINITELY HE OR SHE ARE MASSIAH.

What if you make an hospital

@joaquinvazquez43

24 күн бұрын

Buying a hospital is a cash cow, but it cost A LOT. In the US a hospital will cost you 30-90 Million US dollars

Money isn't the answer for everything... real doctor didn't ever care about money. They just love to save lives and help the needed.

@smellypatel5272

Жыл бұрын

Naive answer. It's a job. Training is long and arduous. Money is absolutely a huge factor in deciding to become a doctor. Stop acting like it's some calling

@appollo1826

Жыл бұрын

Such a childish comment. Money has it value in the choices you make. A EMT, fireifghter, military personnel, PA, PT, PTA, a guy on the street who is licensed BLS card all can save lives. A Physician is different with different aspect that you must know in order to know your why.

@scientowsh2607

Жыл бұрын

@@appollo1826 I know that.

@scientowsh2607

Жыл бұрын

I literally make that as an issue.. because we all don't live in USA. That's what happened in other developing country..if you don't have money..your last option is to die. No treatments/ doctor will treat you. Everything is commercialized..n Money

@captaindesperatehousewife7138

Жыл бұрын

For God's sake, stop with that pathetic reasoning. I don't get it, why do people (Especially Med Students) find it valid to lie about money being literally the most necessary thing in life? Have you even tasted today's society economy?

There's a cardio surgeon looking at this video right now and laughing in his Bugatti

@murraysolomon4924

Жыл бұрын

They all drive Ferraris with license plates that say "VTach"

@esraamohammed2685

2 ай бұрын

@@murraysolomon4924tesla is better

Lol...Charmin tissue

Oh alright . Bye -thanks for having me .

Who are the Joneses?

You sound exactly like med school insiders

@kevinjubbalmd

Жыл бұрын

😂

Becoming doctors spend way too much time and way too less returns

@user-qx5kw9pd4f

Ай бұрын

Bro do your mbbs from third World country then do residency in usa

You want to be rich become an entrepreneur making millions in your 30s.

As a crypto investor, I didn’t get lucky. I spent thousands of hours learning and researching the best projects to invest in, had the courage and daring to invest my hard earned money, and the intestinal fortitude to not give up or sell out despite the volatility and uncertainty in the crypto space. The same traits that allowed me to get into a top medical school and succeed so far. Not luck.

@rsb7608

9 ай бұрын

You got lucky, don't lie to yourself

@derek8149

9 ай бұрын

@@rsb7608 "You got lucky" That's what they all say. It's an extremely hard field to succeed in. I didn't get lucky in crypto, and I didn't get lucky in medicine. Success is not a mistake. Lots of tough and humbling lessons along the way. Let me guess - you tried it and got burned, so you're trying to discredit others who stuck through with the program, learned from the adversity, and made it. I'm sorry you had this experience, and I hope you do well one day.

Well I think doctors may not be a millionaire materialistically, they are billionaire in the aspect of real wealth of vast knowledge the earn and apply!

I hateee medicinnnnnn

Good

ONCE YOU GAIN RESPECT AFTER WORKING HARD,YOU DON'T HAVE COMPLAINTS TO BE A LOSER.

@deniseb.dennis9590

Жыл бұрын

Sadly...

Most of the billionaires in this world are either engineers or software developers not doctors

3rd reason is the ONLY reason they're not rich. All other reasons are bullshit