How is life as a doctor in Singapore?

Originally Posted by Unregistered

Op here.
I have met friends who made 300k-400k last year based on locuming alone. And with their investment portfolio and options trading (selling covered calls etc, not speculation on crypto btw) they are almost financially free. Some of them who locum for a few more years already bought house and earning passive income from rental.

I think the general point is to locum agressively for 5-10 years, once you made your pot of gold early, they don't care how much locums get paid in 10-20 years as they are likely financially free by then. Having said that I must emphasize that the sample size of people I meet is small as I only just started locuming for 3 months.

I used to think like a typical mo/resident, work hard for residency, strive for mmed, at least got secure reasonable paying job for life (can always return to public sector when old etc). It's only in the last 2-3 months when I started my "locum life" before I realize how stupid that idea was. I met doctors younger than me who broke bond and go full time locum have their net worth 4-5 times of mine.. (of course covid is a once in lifetime opportunity for locums and may never happen again in our lifetime)

To be fair, I guess it's also a mentality thing. Most of these locum doctors think like finance people, chiong hard for 10 years, build your pot of gold, try and create source of passive income (investment, property etc) and retire by mid 40s, whereas throughout my residency and mopex years I am surrounded by senior doctors who focus on things like pursuing your passion, lifelong learning etc. (I.e there is less hunger/emphasis on wealth/money).

I don't want to say which option (public vs private) is better, as I am very new to private sector and to a large extent learning as I go along. I just wanted to comment here as I feel that junior doctors should know of their options outside and the financial opportunity cost of staying in public especially if they have the necessary mentality and hunger for money.

400k a year! Wow!

Originally Posted by Unregistered

400k a year! Wow!

It is actually possible, as the community iso facility pays up to 150/hr, and you usually work 12 hrs shift, and you can chiong and work 7 days a week.
The funny thing is when I was locuming there, none of the people are jaded (unlike the public sector) as we all have a very clear financial goal in mind. Some of them was to quickly earn back their money that they paid to moh to break bond, for others is to quickly build up capital so that they can generate a portfolio with passive income.

Unfortunately covid is likely going to be over in 6-12 mths so for the junior doctors still in public service, they probably miss the boat already.
However, the concept is similar, if you want to locum, I would recommend coming out early and chiong hard in first 10 years when you are young, build your capital and then go into semi retirement mode mid 40s, your mindset has to be different from a public sector Dr, whose aim/mentality is to gain knowledge and expertise and slowly climb up the ladder (i.e reg, con, SC etc)

If you want "work life balance" might be better staying as a rp in a chill department e.g ops/ch/DERM when it is 8-5 job. Private is for pple who really chiong for money not "work life balance"

you want chiong then can locum night time while in ops.
300 a weekday night
sat afternoon u slack
Sunday do full day 12 hour 1.2k
u also can make an extra 10 to 12k a month.


but for what.

life v short.
locum exchange time for money
as an expert u exchange expertise for money.

Sad to see junior doctors thinking only in terms of money. Wonder how that differs from what you said during med school interview.

All this talk about financial independence and not a single squeak about serving the public.

Originally Posted by Unregistered

Sad to see junior doctors thinking only in terms of money. Wonder how that differs from what you said during med school interview.

All this talk about financial independence and not a single squeak about serving the public.

Easy to give your holier than thou attitude when bungalows were 1m in the 1990s. Now bungalows start at 6m

Originally Posted by Unregistered

Easy to give your holier than thou attitude when bungalows were 1m in the 1990s. Now bungalows start at 6m

Why must live in bungalow? Why condo or HDB cannot. Dr means must drive Ferrari, cannot drive Toyota? This profession has been poisoned by such expectations. This is why there will not be anymore Dr Tan Cheng Boks or Raymond Yuens, true heroes of the community

Originally Posted by Unregistered

Why must live in bungalow? Why condo or HDB cannot. Dr means must drive Ferrari, cannot drive Toyota? This profession has been poisoned by such expectations. This is why there will not be anymore Dr Tan Cheng Boks or Raymond Yuens, true heroes of the community

We have been in the top 0.1% of Singaporeans academically. We sacrificed our teens, 20s, and early 30s to become capable physicians and surgeons finally able to save lives.

So yes, the expectation that we should be able to afford landed homes is not unreasonable. Why should our generation be treated any differently from yours?

Originally Posted by Unregistered

We have been in the top 0.1% of Singaporeans academically. We sacrificed our teens, 20s, and early 30s to become capable physicians and surgeons finally able to save lives.

So yes, the expectation that we should be able to afford landed homes is not unreasonable. Why should our generation be treated any differently from yours?

PSC scholars and SAForce scholars also top academically. How many stay in GCBs?
Rich Dad Poor Dad states that A students work for C students who are good at making money. Being top academically doesnt mean u make a lot of money
I think you should read the Psychology of Money. Here: s://..com/watch?v=TJDcGv9OH4Q&t=488s
There will always be a bigger fish.

Originally Posted by Unregistered

PSC scholars and SAForce scholars also top academically. How many stay in GCBs?
Rich Dad Poor Dad states that A students work for C students who are good at making money. Being top academically doesnt mean u make a lot of money
I think you should read the Psychology of Money. Here: s://..com/watch?v=TJDcGv9OH4Q&t=488s
There will always be a bigger fish.

Only the poor read rich dad poor dad
Coz robert is a scam. His deals are just figurative examples
And no factual basis

Originally Posted by Unregistered

Sad to see junior doctors thinking only in terms of money. Wonder how that differs from what you said during med school interview.

All this talk about financial independence and not a single squeak about serving the public.

If I wanted to serve the public I would have aspired to be a PAP Minister not a Dr.