 Hey guys, welcome back to my channel. Thank you so much for watching. Please don't forget to like and subscribe. So this episode, we're gonna get into part two of finances. And in the end of the last video, I mentioned that I was gonna talk about my student loan debt. So we're gonna get into that now. So many people look at doctors and other healthcare professionals and only see the money that we make and the fancy lifestyle that some of us lead. What they don't see and is equally important is the debt that is incurred while pursuing those degrees. And boy, can I tell you, it's a lot. Post-secondary and higher students make up a large section of the student loan crisis because we take on some of the biggest debt in order to get the biggest gain. However, this debt in the past was a manageable one. Usually about five times less than the income and pay was commensurate with the time you put into the schooling. So you were usually left on good footing. That meant with good education, you were able to buy a house, a car, send your kids to school, maybe even private school, and save for retirement all after you settled your student loan debt. Those were the good times. But today we find things have changed. For one, the debt you accumulate can't simply be paid off in a reasonable time without some extreme belt tightening, which is although very possible and prudent, but really often difficult to do while making time to grow your family, which many have already delayed to pursue their education, buy a home and save for the future. The average take home check for a professional of my status depends on where you work greatly, but you can expect to make anywhere between 11 to 15K biweekly as gross pay. That seems like a lot, right? I mean, coming from the pay that you were making as a resident, which averages about 3K biweekly, this is actually quite an achievement. Like you finally made it. But not so fast. Here is where I will make the comparison for you to being a tenured and experienced teacher or a cop or firefighter or nurse and pose that doing so will give you equal or if not better financial status in the long run. When you make a certain amount of money in healthcare, when you usually occupy the top 10 spots of highest paying careers out there, you're in a higher tax bracket, say about 39%. At this bracket, you're left with roughly 60% of your pay after taxes. And assuming you're at the medium anesthesiologist's income, that makes your take home pay a gross of 13K turned into roughly only 8K every two weeks. Again, you say to yourself, well, that's not a bad deal. That's roughly about five times what I was pulling in when I was a resident, which if you didn't know, it averages around 65K in New York City with the relative price of living and all. And about 85K was what I would have made at 11 years max salary as a New York City science teacher. But from that, I would still have to pay my student loans, which were about $2,400 a month on one of them and $500 a month on the other. Did I forget to mention that my total student loan debt is about $270,000? These payments are the payments I would have to pay if I wanted to pay off this debt by the time I'm in my 50s. I mean, over time it's almost required if you want to make any headway with your repayment. Consider this, if I remained a teacher, I would have been able to amass quite a bit of a fortune saving and investing with my husband in many things such as homes, which would have appreciated and been paid down by now, 12 years out, and I would be able to pay down that total debt of around 300K, which could have in turn bought several homes or stocks and businesses where the cost would have been more controlled. Now as a doctor finally getting settled into my adult life, I have consciously put my family first and having the background this looming debt over my head. I still want to do all of these things, investments and such, but I'm so limited by what I owe and making sure that I'm able to make up those payments. So that my friends is why doctors make so much money. In the next video, I will give you more information on what I get paid and what's taken out.