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26 Year old Med school dropout, $87,000 in debt, in need of financial & life advice
Hi PFC,TLDR / I’m distressed and contrite of my current situation (hence new anon account) summarized below. I need financial and life advice on how to move forward.FULL POST / Med School Decision / For a long time, I’d believed a profession as a physician was my calling. Once I got into med school and had the opportunity to shadow numerous doctors in clinical rotations and observe their lifestyle, I suspected it may not be for me.I concocted a 43 page document assessing my life trajectories in both scenarios, spending much time vilifying my beliefs. All this led me to make a personal well informed decision to discontinue my medical school education in 2015.2015 / I moved in back with my parents at 22 and got a job as a telecommunication sales rep.2016-2017 / To accelerate paying of the $65K in debt, I started hustling on the side flipping cars and electronics. I eventually quit my sales job and registered a small online business in 2016 selling electronics. I had some successes in 2016 and 207 managing to pay all my living expenses and pay the loans down to about $47,000.2018-2019 / Unfortunately, in 2018 the business was victim to scams and operating loss (- $17K), I’d personally lost money from renovation scam (- $7K), and lost money (- $14K) in the stock market in 2019.2020+/ I’m halting my business endeavours to reassess my life and how to move forward. My business assets altogether are worth about $30K (on loan to be liquidated and paid off) which will effectively make it $0. My personal assets are about $20K and I have $15K cash in personal savings in a HISA.With all the losses, I’m in around $87,000 in the negative with about $50K in student loans. I just don’t know how to move forward from here. I’m not depressed from the losses but they’ve certainly affected my mood. I’ve moved in back with my parents at 26 (will be 27 in a few months) and I’m taking a break from life to figure out how to move forward. Fellow Canadians, please advice. https://www.reddit.com/r/PersonalFinanceCanada/comments/eg38cf/26_year_old_med_school_dropout_87000_in_debt_in/?utm_source=ifttt
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