Opinion: Save tax return for dive camera or dive trip?

[Trixxie]

Some people think extra money is to spend when it should be to invest. I find it humorous that our government tells Americans that they have too much debt and they need to pay it down, and then they pass a stimulis package, reward poor fiscal behavior, and then tell everyone to spend the money. Go figure

If you have any debt, especially credit cards, PAY IT DOWN, if you don't, save it until you have enough money for a camera and a trip.

Bruce

I can't argue with that (since it's financially sound advice) but if I did this, not only would I not have enough to pay off my debt (I have 1 loan but pay off my credit card every month or do not buy anything else until it is) but I also would not be getting a new regulator, taking a cavern class, diving w/my super course director to get my specialty instructor rating or going to Bonaire and Roatan. I would rather live while I can enjoy life rather than sit at home while the world goes by...... been there done that.

 

[driftin' by]

Tax return?

Yeah, what's that? I too will be writing a big ole fat check on 4/15 that's equivalent to a nice DSLR set up or a week long diving vacation, or all new diving gear, or a 65" HDTV, or a... well, you get my point. Anything that would cost about 4 grand. Thanks Uncle Sam! Stimulus package!?!? lol

 

[1_T_Submariner]

Hey emttim,
Better yet, use the money to go on the Channel Islands trip and think about a new career path during your SI's. That is when you're not studying for that exam you're suppose to get.

Submariner,
He's a college student. They usually don't make very much money until they have that piece of paper in their hand. He's still working on his lifes goals.

Sorry, I didn't see where he mentioned that he is a college student (In fact I still don't).

 

[RJP]

Sorry, I didn't see where he mentioned that he is a college student (In fact I still don't).

Seek, and ye shall find...

emttim

 

[Jim Kerr]

Sorry, I didn't see where he mentioned that he is a college student (In fact I still don't).

Sorry about that Submariner! He's got several threads going asking for advice and in one of them he mentions he's a college student.

 

[emttim]

Hey emttim,
Better yet, use the money to go on the Channel Islands trip and think about a new career path during your SI's. That is when you're not studying for that exam you're suppose to get.

Submariner,
He's a college student. They usually don't make very much money until they have that piece of paper in their hand. He's still working on his lifes goals.

Well, at this point the dive is scrapped anyhow because my right arm is fubar'd right now and I can't lift over 2 pounds with it per the doctor, so I'm uncomfortable making reservations for a charter...sure I can cancel it if it looks like its not healing fast enough, but that's just too risky for me, I'd rather just put the money in my money market account I have set away as my "dive stash" and wait for a better opportunity...for that matter I guess the tax refund is going in there too at this point, so there may be close to a grand in there once I get my tax refund. I dunno, I might just save up a little more and go to Cozumel or the Caribbean. Or I might just dive for a week straight in Channel Islands, I dunno yet.

I would go on a trip, or buy some other gear rather than a camera. Enjoy DIVING first, take pics later on. Not only will your pics be better because you are more comfortable in the water, but you will be better at spotting the more interesting critters to photo.

Now, for some really irresponsible words to live by: it doesn't matter if you have a 50 million dollar estate, or you are being chased by creditors. Are you happy with your life? Having fun? In the end you are just as dead and money only buys a bigger stone. There is more to life than money, don't miss the good stuff...

I love my life, actually. The pay for my job is laughable, however, AMR pays far more than any other ambulance company...I make $9.50/hour right now and I don't do 911, however, AMR pays anywhere from $12.00 to $14.00/hour depending on the county you work in here in California and they obviously do 911, so for a college job, 12-14/hr is respectable. I'm planning to go to medical school anyway so money won't be an issue once I'm a doctor. I honestly don't think I'd make a career out of the ocean even if I could...I love medicine, but on a different level. I have a romantic love with the ocean that I don't want to degrade by making a job out of it...I have more of a companion love towards medicine in the sense that the honeymoon's over and I realize medicine is an unholy, evil bitch, but I love it anyway, so I'm not cheapening it by making a career out of it. ;P

I can't argue with that (since it's financially sound advice) but if I did this, not only would I not have enough to pay off my debt (I have 1 loan but pay off my credit card every month or do not buy anything else until it is) but I also would not be getting a new regulator, taking a cavern class, diving w/my super course director to get my specialty instructor rating or going to Bonaire and Roatan. I would rather live while I can enjoy life rather than sit at home while the world goes by...... been there done that.

I don't have any credit card debt, for the record. I learned my lesson from my brother and never made the mistake of going thousands of dollars into debt...I just use my rewards credit card for my living expenses and I pay off the balance every month so I get air miles towards free air fare.

 

[diver 85]

Dive trip.

Camera(so we have effectively not made a post.....lol)....

 

[RJP]

I'm planning to go to medical school anyway so money won't be an issue once I'm a doctor.

That's a woefully outdated thought these days.

There are few places where there's "for sure" big money left in medicine:

- being a procedure-driven specialist (eg invasive cardiology, surgery)
- having an elective-driven, cash-paying practice (eg cosmetic dermatology)
- owning a high-volume primary care practice (eg partner in a large multi-physician practice)
- having been in an established, lucrative practice for 10-15yrs already

Sure, doctors will alway make decent money. But the days of every doctor making big bucks, driving a black Mercedes, and living in the biggest houses in the best neighborhoods are gone.

For the most part, new MDs are now destined to be "employees" of one type or another. They will work in someone else's practice for a salary, they work for a hospital for a salary, or even if they have a solo practice they will essential work for the insurance companies on a high-volume, relatively low-margin fee-for service basis.

Also, in today's healthcare environment you had better like spending a lot of your time as a paper-pushing, business-administrator type as well. Insurance plans, HIPPA requirements, pharmacy benefit plans, co-pay processing, etc, etc, etc. (Or spend a lot of money on necessary infrastructure and people to handle those things for you.)

If you want to become a doctor because you love medicine that's one thing. But if money is any part of the "why" you want to become a doctor (or if you think "money won't be an issue" when you're a doctor) you should think long and hard about it.

 

[emttim]

That's a woefully outdated thought these days.

There are few places where there's "for sure" big money left in medicine:

- being a procedure-driven specialist (eg invasive cardiology, surgery)
- having an elective-driven, cash-paying practice (eg cosmetic dermatology)
- owning a high-volume primary care practice (eg partner in a large multi-physician practice)
- having been in an established, lucrative practice for 10-15yrs already

Sure, doctors will alway make decent money. But the days of every doctor making big bucks, driving a black Mercedes, and living in the biggest houses in the best neighborhoods are gone.

For the most part, new MDs are now destined to be "employees" of one type or another. They will work in someone else's practice for a salary, they work for a hospital for a salary, or even if they have a solo practice they will essential work for the insurance companies on a high-volume, relatively low-margin fee-for service basis.

Also, in today's healthcare environment you had better like spending a lot of your time as a paper-pushing, business-administrator type as well. Insurance plans, HIPPA requirements, pharmacy benefit plans, co-pay processing, etc, etc, etc. (Or spend a lot of money on necessary infrastructure and people to handle those things for you.)

If you want to become a doctor because you love medicine that's one thing. But if money is any part of the "why" you want to become a doctor (or if you think "money won't be an issue" when you're a doctor) you should think long and hard about it.

I love medicine, however, money is still a factor because it's insanity to go into a career and go $200,000 into debt to do so and not care about whether you'll be making enough in that career to justify going so deep into debt. The ability to pay back those loans and still live decently enough to justify the 10 years in school is also a consideration of mine.

I'm planning to go into Emergency Medicine because I love the action of the ER. ED physicians typically make $200,000, maybe a shade more, each year which amounts to $100-120/hour on salary. The usual ED shift is 12 hours so 4 hours of that is overtime as well. It's not uncommon to find a job offering from a hospital that includes malpractice insurance coverage so that's taken care of. Providing the salaries don't change drastically, I don't see why money wouldn't be an issue. If I'm making about $9,000 - $10,000 a month net after taxes, then I have plenty of money to pay back the enormous student loan debt and have money left over to live a good life. Yeah, I won't have the mansion on the hill, but that's not my style anyway...if I somehow was suddenly rich tomorrow, I wouldn't be out looking at mansions, I'd be on a plane on the way to the Caribbean to go diving.

Now if they seriously damage the salaries of doctors to the point where the income-to-debt ratio is horrid by the time I'm close to finishing my undergrad degree, well, then I guess I'll just apply to graduate school to get an MA or PhD in Marine Science..

 

[RJP]

I love medicine, however, money is still a factor because it's insanity to go into a career and go $200,000 into debt to do so and not care about whether you'll be making enough in that career to justify going so deep into debt. The ability to pay back those loans and still live decently enough to justify the 10 years in school is also a consideration of mine.

Looks like you've done your homework and are thinking about it with the right perspective - best of luck to you!