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c) Why it's hard to accept age limitations for so many? Yup, many (if not all) things in this life are age specific, no amount of positive attitude will change that.
Because many don't feel limited by age. If we were to follow this, everyone over 45/50 would have the I-have-nothing-to-look-forward-to sorry little life attitude.
As much as money is a serious, basic need, (keep in mind other poster did the math and still found the back-to-school move a good choice), some people don't live/work moved by money only, they have dreams and ideals in life which sometimes were simply not possible when they were "young" for one reason or another, but that does not mean they are going to forget about them and sit on a chair waiting for retirement doing something they don't like only to spend their late years feeling sorry for themselves, since they couldn't do what they liked bc they were "too old for age-specific goals".
You are obviously welcome to have your own opinion, and I acknowledge that, but please don't measure everyone's perspectives with your ruler. Please acknowledge many people are different than what you believe they are/should be.
I think this thread is a virtual chapter of Ostrich Positive Attitude Adjustment Institute. No, no, it's never too late, you can have anything at any age - family, kids, education, job of your choice, hobby, real friends, etc. no limits at all, just have at it. No, you don't have to drop dead at 50 y.o., however 50 y.o. should not pretend to be 20 y.o.. If people lived for this long and can't embrace life in its entirety, including age limitations and mortality, then I guess you can pretend to be an energizer bunny, if that makes you feel better. The thirst for feel good stuff is partially due to the misery & isolation that old age brings with it in good old USA, but it's not old age fault. In more "backward" societies older people are integral part of real "community", they don't need to play 20 y.o. before being locked up in nursing homes to die.
As I said in the TS instance, it's mostly fun brain exercise with little bit of risk. If that's what he wants he may afford the luxury of trying. And as I said medical field has a few 42 y.o. success stories. However, you have to be absolute idiot to get into engineering school at 42 y.o., for example.
Calculations of projected income of 42 y.o. student is a joke. There are so many unknowns and risks. First reminder, it takes time to graduate from a medical school. How much time will it take for a 42 y.o. with really rusty knowledge of basics to graduate? 4-5 years at least. + 3 years of residency. What if he will not make it? This is a feel good thread, but not everybody makes it through medical school. Let's assume the guy will have a chance on a job at 50 y.o. Now, medical field is little bit different, I doubt being 50 y.o. and no independent experience will be a great help to land an exceptional job. How much will he make in that job? It's another thing we/he don't know. Doctor doesn't mean 200k/year automatically, many (especially those with independent practice) work for much less. OK, let's pick the averaged over the years number out of blue - 110k. 110k*15=1,650,000. Now debt, 240k at 8% for 10 years (I'll be merciful) = 480k. Debt is really risky thing, read about "student loan mafia", it may easily snow ball into unmanageable number, you can't refinance it, you can't discharge it in bankruptcy, you are done for life and yup they will strip you of your license if you don't pay. There are many more doctors stripped of their licenses living under radar, working for cash, or fleeing the country than there are success 42 y.o. stories.
The point is, there are to many unknowns and risks to guess potential earnings of 42y.o. medical student. Now, Dave Ramsey claims that you can expect 12% of the long term mutual fund investments.
Simple compound formula: 240,000 (1+0.12)^23= $3,252,563. but it's meaningless number unless you actually have $240,000 in your bank account. OK, let's assume 42 y.o. has 240,000 to put him through school and residency. Let's assume that he has 15 years of practice left upon graduation. Thus, he needs to make roughly 217,000/year. So, think for yourself about the chances. As I said financing your medical school introduces unknown amount of uncertainty into play. You may end paying 480,000 to service the debt or you may lose everything (including $3000/month from government and your medical license). Good luck.
Why it's hard to accept age limitations for so many? Yup, many (if not all) things in this life are age specific, no amount of positive attitude will change that.
I think this thread is a virtual chapter of Ostrich Positive Attitude Adjustment Institute. No, no, it's never too late, you can have anything at any age - family, kids, education, job of your choice, hobby, real friends, etc. no limits at all, just have at it. No, you don't have to drop dead at 50 y.o., however 50 y.o. should not pretend to be 20 y.o.. If people lived for this long and can't embrace life in its entirety, including age limitations and mortality, then I guess you can pretend to be an energizer bunny, if that makes you feel better. The thirst for feel good stuff is partially due to the misery & isolation that old age brings with it in good old USA, but it's not old age fault. In more "backward" societies older people are integral part of real "community", they don't need to play 20 y.o. before being locked up in nursing homes to die.
As I said in the TS instance, it's mostly fun brain exercise with little bit of risk. If that's what he wants he may afford the luxury of trying. And as I said medical field has a few 42 y.o. success stories. However, you have to be absolute idiot to get into engineering school at 42 y.o., for example.
Calculations of projected income of 42 y.o. student is a joke. There are so many unknowns and risks. First reminder, it takes time to graduate from a medical school. How much time will it take for a 42 y.o. with really rusty knowledge of basics to graduate? 4-5 years at least. + 3 years of residency. What if he will not make it? This is a feel good thread, but not everybody makes it through medical school. Let's assume the guy will have a chance on a job at 50 y.o. Now, medical field is little bit different, I doubt being 50 y.o. and no independent experience will be a great help to land an exceptional job. How much will he make in that job? It's another thing we/he don't know. Doctor doesn't mean 200k/year automatically, many (especially those with independent practice) work for much less. OK, let's pick the averaged over the years number out of blue - 110k. 110k*15=1,650,000. Now debt, 240k at 8% for 10 years (I'll be merciful) = 480k. Debt is really risky thing, read about "student loan mafia", it may easily snow ball into unmanageable number, you can't refinance it, you can't discharge it in bankruptcy, you are done for life and yup they will strip you of your license if you don't pay. There are many more doctors stripped of their licenses living under radar, working for cash, or fleeing the country than there are success 42 y.o. stories.
The point is, there are to many unknowns and risks to guess potential earnings of 42y.o. medical student. Now, Dave Ramsey claims that you can expect 12% of the long term mutual fund investments.
Simple compound formula: 240,000 (1+0.12)^23= $3,252,563. but it's meaningless number unless you actually have $240,000 in your bank account. OK, let's assume 42 y.o. has 240,000 to put him through school and residency. Let's assume that he has 15 years of practice left upon graduation. Thus, he needs to make roughly 217,000/year. So, think for yourself about the chances. As I said financing your medical school introduces unknown amount of uncertainty into play. You may end paying 480,000 to service the debt or you may lose everything (including $3000/month from government and your medical license). Good luck.
You claimed that it might take longer than expected to graduate medical school because of how rusty an older person is. Do you have any idea how hard it is to get into medical school? That person has already brushed up on everything to even be able to apply. I also assumed a five year residency in my calculations, more than the three you quoted. As long as he stays in specialties that keep him in a hospital, there is absolutely no risk of being 'stripped of his license and living under the radar'
Average income for doctors by specialty (for 2010) is listed below. He WILL get that $217,000 salary that you quoted. Why are you continually making excuses for someone not to do something they love for MORE money?
I think this thread is a virtual chapter of Ostrich Positive Attitude Adjustment Institute. No, no, it's never too late, you can have anything at any age - family, kids, education, job of your choice, hobby, real friends, etc. no limits at all, just have at it. No, you don't have to drop dead at 50 y.o., however 50 y.o. should not pretend to be 20 y.o.. If people lived for this long and can't embrace life in its entirety, including age limitations and mortality, then I guess you can pretend to be an energizer bunny, if that makes you feel better. In more "backward" societies older people are integral part of real "community"
Since it is my life (and I am far from this age, before you say I am trying to "pretend to be young", btw) I intend to do whatever I wish to with it. I appreciate you not criticizing it and taking care of yours the way you prefer. To each his own, just have at it.
Do you really think just bc someone is back at school this person is trying to pretend to be 20?! Why in the world do you think only people a certain age should be allowed to go to school?
One thing has nothing to do with the other, you are mixing a midlife crisis with someone who, for whatever reason, decided to study at a later time in life. Why isn't one allowed to go to school without pretending to be 20?!
"Embracing life in its entirety" does not mean "go sit in your rocking chair", it means "live your life as well as you can and the way you like". As long as you don't bother others, why can't you do what you like?!
You must be careful not to overestimate the possibilities of getting into such schools at a relatively "advanced" age. Most, if not virtually all, medical schools won't admit 40 year-olds into their programs simply because they would have fewer years of service to offer the public after they finish the program. They have other reasons, too, but this is the major one.
If you want to try, go ahead, but don't have unrealistic expectations.
You must be careful not to overestimate the possibilities of getting into such schools at a relatively "advanced" age. Most, if not virtually all, medical schools won't admit 40 year-olds into their programs simply because they would have fewer years of service to offer the public after they finish the program. They have other reasons, too, but this is the major one.
If you want to try, go ahead, but don't have unrealistic expectations.
that would be age discrimination and it would lead to massive lawsuits. this isn't anecdotal, it's a fact.
You must be careful not to overestimate the possibilities of getting into such schools at a relatively "advanced" age. Most, if not virtually all, medical schools won't admit 40 year-olds into their programs simply because they would have fewer years of service to offer the public after they finish the program. They have other reasons, too, but this is the major one.
If you want to try, go ahead, but don't have unrealistic expectations.
My girlfriend (who is in medical school) has several classmates in their 40's.
Is this thread some kind of a feel good, motivational Prozac for the people clinging to the last straw of their? dreams? No, it's never too late, 45, 55, 65, 95, opportunities are abundant, just go for it. With little bit of positive attitude and $30k in student loans you can move mountains.
Reality is not negative, reality is just that, reality.
So, let's refresh on "reality":
a) Most "non traditional" an euphemism for "old" students are enrolled in the programs (part time) that further their existing careers. To put it bluntly they just need to muddle through with a 2.5 GPA, earn a diploma and "collect" prearranged rewards, be it promotion, keeping a job, or a fatter paycheck.
b) your brain is not getting any better with age. Even though older students efforts are commendable from personal development&perseverance standpoint (and may even keep dementia at bay for a year or two longer), whom are you trying to kid? Only a few truly extraordinary older folks can keep up with younger brains. And you really think that in the age of the disposables HR managers will bet on you being a late blooming Einstein?
c) Why it's hard to accept age limitations for so many? Yup, many (if not all) things in this life are age specific, no amount of positive attitude will change that.
1. At least in this case, it appears that the individual is changing careers.
2. I've never heard of any study that suggests that one's ability to learn decreases with age. I will admit that older students generally have more distractions/barriers that make it more difficult to complete rigorous academic programs (children/family, careers, homeowner responsibilities, etc.)
3. A hiring manager can guess an applicant's age, but in most cases cannot legally ask the question. Furthermore, in most cases the refusal to hire based on age (a "prohibited basis") is illegal.
4. My guess is that you're substantially under 40. I'd bet your opinion will change once you're over that hump.
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