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Hey guys, so today the topic of discussion will be about the importance of investing.
But first let’s talk about your pay scale as a mbbs doc or a pg student or a consultant in relation to inflation.
So the bitter harsh cold fact is that the roi (return on investment) when you do mbbs is abysmal.
-most of you must’ve spent lakhs on your coaching to get a seat here
-you have other expenses such as textbooks and other medical equipment whilst doing the course
-after doing all this you get paid a meagre 60-65k as a mbbs graduate if you work in a govt setup and in the private sector you will get paid in and around the same range
-as a pg student you will get
60k in your first year
70k in your second year
And 80k in your third year.
Which again is pathetic considering you’ll be in your mid- late twenties and after cracking one of the toughest exams, and having to do night duties frequently and dealing with the toxicity,the pay isn’t justified.
-after your pg many of you may want to do a super speciality and again you guys will have to answer neet🤡
- even after clearing such a tough exam you’ll get paid around a lakh per month which again is very low
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- now some of you will say “but bro I can make a lot of money if I start my private practice”
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- yes you can but that will take years of experience and starting your own clinic requires a lot of funding so irrespective of that learning about personal finance is a must
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- now let’s talk about inflation
- inflation is basically the increase in prices of goods over a year
- for example if an apple costs 100 rupees this year and if it becomes 110 next year, the inflation is 10%
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- now according to govt data the inflation is at 5-6% but just check the cost of education, healthcare and your daily products like soaps and shampshampoos and see how much the prices have increased in the past few years
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- trust me it’s way more than 6%
- now say suppose you’re done with your mbbs, and you are earning 60k a month.
- as you know you don’t get salary hikes every year in most places
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- so if your pay remains 60 the following year, you are actually losing money (in real terms)
- this is because the “real” inflation in the economy is around ten% so if you don’t grow your wealth by atleast ten% every year,
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- you will lose ten% of 60k which is around 6k
- investing entirely in fd’s is one of the worst decisions you can make because you get at max 7% and that’s because the interest rates are at an all time high
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- you also have to pay tax on these gains
- the moment the RBI reduces the interest rates your returns will decrease
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- if you get 7% on an fd and the inflation is 10% you are still losing money !
- so even if inflation stays at 10% every year if you don’t grow your wealth by 10% you are in real terms losing money!
- so I hope that by now you have understood about the importance of investing
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- to summarise it’s because
- 1) the roi is abysmal
- 2)inflation is very high
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- in the next post I will try to explain in short and simple terms as to why there has been an increase inflation
- feel free to voice your opinion over here
- thank you and have a nice day :)
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