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You'd be surprised how accurate your calculations are... however, even if they do not have any customers for half their day - 2.75mil is still quite a very nice figure
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You'd be surprised how accurate your calculations are... however, even if they do not have any customers for half their day - 2.75mil is still quite a very nice figure
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A friend of a friend who manages an accounting practice and looks after accounts for trades running their own business and professionals running a practice has mentioned typical yearly incomes -
Electrical or Plumbing business - $300k - $500k year
Doctor GP - $500k - $1ml year
Doctor Specialist - $1.0ml to $1.5ml year
A dentist would have to come in around the $500k to $1ml. These numbers are in a Regional area and in a Capital City would expect to be a bit higher.
Chaka stick to dentistry and put the excess money in a fixed deposit
Electrical or Plumbing business - $300k - $500k year
Doctor GP - $500k - $1ml year
Doctor Specialist - $1.0ml to $1.5ml year
A dentist would have to come in around the $500k to $1ml. These numbers are in a Regional area and in a Capital City would expect to be a bit higher.
Chaka stick to dentistry and put the excess money in a fixed deposit
skc
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Don't be too excited. My wife is a GP and I know many GPs. The range of income is $80K to $1m+. To get substantially over $200K you have to run your own practice and employ several others, in which case you are not just a GP, but a business owner.
Don't believe me? Standard consult bulk bill = $33.55. GPs working in a practice may have a 60/40 split so they get $0.6x$33.55 = ~$20. Say they see 4 patients per hour, 35 hours a week and 48 weeks a year, that's $135K.
My point exactly. You have an undeniable quote and source - the minister of finance (our wives). And because your wife is a GP I would say that your source of information is not hearsay but fact.
As interesting as charka1988 future in dentistry is we are getting off topic.
Charka1988 do your study in dentistry AND teach yourself to trade dont be a cop out and say you dont have time to do both because there are ppl out there doing it.
As a young person just starting in uni (mid semester?) you have many years ahead to learn the art slowly and it will take years. Some things you just have to let marinate before it makes sense. Depth of character is shown by what you do and how you achieve it so you can do more than just study.
By saying that you dont have time to learn how to trade tells me that you dont want it bad enough. Because if you did you would break your back to do more. I know I have.
Very healthy, but hardly a road to riches. Expenses - insurance, mortgage/rent, assistants, equipment etc. It's all very expensive. Like a GP, it's a business with high overheads. Large amounts of tax. Comfortable, yes, but then much of it is wasted on fancy new cars that depreciate strongly, electronics, entertainment, food, school fees etc. At the end of the day, the typical well-to-do 'comfortable' lifestyle is quite expensive. He won't be growing his net worth at a significant rate.
Iggy said:
I noticed you stated trade business rather than the income. Insurance, apprentices etc? People rarely earn what others think. Consider that dentists and doctors start their careers far later than most, and also have large loans to pay off. They also must do a lot of work to get there and can work long hours in a stressful occupation.
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Yes the numbers are for businesses, not wages, but are yearly profit earned in the profession, by the owner of the business. Chaka would be best putting his study into setting up a dentist practice when compared to trading, as Chaka seems to have a desire to make money.
I would only suggest trading if it was likely he will become a good trader in the near future. Without knowing anything about him, it seems unlikely, so it seems he would likely be far better off by pursuing dentistry. It doesn't seem that it comes down to trading versus dentistry anyway, but for trading to be something on the side. This is the best approach, since it provides him with a good chance of a reasonably high income.
Trading is field with a low chance of success, and I wouldn't advice anyone to jump into it as a primary income/occuptation, and without a good safety net. Of course, I ignored both of those.
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Hi There Chaka1988 what did you finally decide on, from your original post?
I liked the response from "data" about R.A.T.S. and would recommend you stay with your studies.
I would try the ASX stock market game (there are probably others). That way you can experiment with a few different strategies. Appreciate that the ASX game only deals with top 100 stocks, but you can select several stocks on some watch lists with any shares - enter number of shares and amount paid. Then see how you go. Good luck with studies and your investments.
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young people with intelligence are an interesting commodity
I see now
First ivant, and now Chaka
It seems you have a taste for young men
::casanova: (tongue firmly in cheek!!!)I see now
First ivant, and now Chaka
It seems you have a taste for young men
Lol ---- dont tell my wife
--Lol ---- dont tell my wife
dw Im single :casanova: :remybussi
--- back to your books young fella --- i wanna see high morals and high distinctions from you -- in that order !!
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Doesn't mean that he can't take in on as a hobby or secondary thing whilst he's still in uni
Not sure why you're quoting my post, as that is what I suggested, and assumed as the OP's intention.
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