Pretty sure he covered it in Fastlane.
If you're at the pointy end of the management structure / high level specialisation, in an organisation that has has magnitude, then you can make millions.

That said, the owners of the hospital / clinic, are still making heaps more than anything they'll be paying the health professional / management.

Which is kind the point... you can make millions in the slowlane, but still be in the slowlane!

 

Except no doctor is going to school for 13 to 15 years to live like a gradschool kid for ten years to retire as middle class

With that logic why not save on the schooling , become a nurse , work 80 hours week for 2 years and buy a house cash then 60 hour weeks for ten and retire on 30k a year at age 32?

Or how about same guy joins the army out of highschool and just does the bare minimum to age 38 for that sweet gubmint cheese?

That doesnt make any sense , if I go to school for 15 years lifestyle inflation be damned i'm sure as hell spending the ever living crap out of my MD paychecks

 

You're absolutely right. The top 1% are high-paid educated professionals. They went to college, got good jobs, now they make six-figures a year.

The 0.001% you mentioned are the successful entrepreneurs. They make millions, have their choice of Lambo or Ferrari, and travel all over the world on a whim.

It's just a matter of who you want to be my man.

 

Also pretty sure that he has covered it ... and the main problem is that it is still mostly Uncontrollable Leverage, even if the Limit (there still is one) does not bother you.
Somebody else must decide that you are the one who actually gets promoted, you need to be smart enough to be the best and you need to make sure the time you invest actually leads to measurable results.

 

You are also talking about the people who work 60+ hours a week and have 4 weeks vacation a year. That's the biggest difference. I was making $100k a year when I was 33, but I only had 3 weeks of vaca. Sure I was in the top 5% but life was not that great.

Also, the second biggest issue is that you aren't in control at all. There is a boss above you that determines how much money you should make and if you should get a raiser or not.

I know a few doctors that make mid to high six figures. They all wish they had my life.

 

I can relate to biophase in some ways. I work remotely and I've been doing my "traveling/vacation" for the past six months. I can't imagine sitting in a cubicle and having 2-3 weeks of vacation a year. Although I get paid significantly less right now, I'm really happy. And I'm looking for ways provide more value, use less time, and earn more.

Hence the reason why I'm working on Smart Namu right now.

 

If you only had an idea of the amount of sacrifice one has to give to get into medical school and pass it, to be then working 70-100 hour /week night and weekend shifts for another 6 years. Then to be only certified as a specialist doctor. You still need to sub-specialize and continue training before we can work independently. I'm not even accounting for the time and effort we have to invest into research and audit programs, how many do you think of us turn actually into the top earning doctors?

 

Are you trolling? This is extreme misinformation. 500K rupees is $6800 USD.

The whole point of f*ck you money is that no one can fire you. I know a guy who makes $300K a year as an engineer, but he's away from home two weeks on, two weeks off. HIs family's whole lifestyle is dependent on his job, so as long as he wants to keep up with the Joneses he can't just walk away.

 

LOL, Go ask those people that they know if they would ever say F*ck you to their boss. They can't.

 

These people are making money from results. They certainly are Fastlane if their ventures are succeeding.

 

I think you’re on the wrong forum man

 

And they get taxed to death.

 

You can start off with the slowlane and end up fastlane. Or stay slowlane, your choice.

 

You're right of course.. most of the highest earners in the 1% are doctors and high level managers... but the highest earners in the .001% are all business owners / founders / entrepreneurs!

 

It all becomes a moot point anyway if you only want to rationalise / justify for the sake of it... as my adorable wife often says to me... do you want to learn, or do you want to be right?

i hate it when she says that!