New to stock marketing

jono1887 · 12 July 2009

data said:
see: My Career - Current job placement. Periodontist QLD

150k-200k (Ref No. NSS01317B)

1.5mil is about 5 times what krudd is on. I know what you mean tho it cost me $500 to see the vet for 30min when my dogs ear got bit. But its crazy to think that if the vet earns $1000 per hour x 8hr day = 8k a day x 6 days = 48k per week x 52 weeks = 2.49 mil. I dont think so, just an isolated incident.

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

Iggy_Pop · 12 July 2009

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

skc · 12 July 2009

Iggy_Pop said:
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

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.

data · 12 July 2009

skc said:
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.

Mr J · 12 July 2009

Julia said:
Well, the last time I went to the dentist, I calculated how much he'd be earning on the basis of what I paid for a 30 minute appt. It came out to around 1.5 mil.pa
Overheads are of course deductible and even after tax it's going to be a fairly healthy income.

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:
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 -

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.

Iggy_Pop · 12 July 2009

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.

Mr J · 12 July 2009

Chaka would be best putting his study into setting up a dentist practice when compared to trading

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.

jbocker · 13 July 2009

Chaka1988 said:
Hey guys

I am planning to invest around $1500 initially just to learn how all of this goes. How can I know what to invest on?

Cheers

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.

mazzatelli1000 · 13 July 2009

Cartman said:
young people with intelligence are an interesting commodity ---- keep us posted ...

I see now
First ivant, and now Chaka
It seems you have a taste for young men ::casanova: (tongue firmly in cheek!!!)

Cartman · 13 July 2009

mazzatelli1000 said:
I see now
First ivant, and now Chaka
It seems you have a taste for young men ::casanova: (tongue firmly in cheek!!!)

Lol ---- dont tell my wife --

Chaka1988 · 13 July 2009

Cartman said:
Lol ---- dont tell my wife --

dw Im single :casanova: :remybussi

Cartman · 13 July 2009

Chaka1988 said:
dw Im single :casanova: :remybussi

--- back to your books young fella --- i wanna see high morals and high distinctions from you -- in that order !!

jono1887 · 13 July 2009

Mr J said:
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.

Doesn't mean that he can't take in on as a hobby or secondary thing whilst he's still in uni

Mr J · 13 July 2009

jono1887 said:
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.

Chaka1988 · 13 July 2009

The book by Stan Weinstein is amazingly interesting and easy to follow!

New to stock marketing

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Iggy_Pop

skc

Goldmember

data

Mr J

Iggy_Pop

Mr J

jbocker

mazzatelli1000

Cartman

Chaka1988

Cartman

jono1887

Mr J

Chaka1988

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