Salam Doctor, I want to study MRCP to be a specialist. Can I know the
salary of a private hospital specialist or consultant? I hope to earn RM 30K –
40K by age 35 – 40 so I can retire early by 50. Harap tuan doktor boleh beri
pencerahan. Terima kasih.
Aishah
I’m sorry Aishah, I do not have the exact details to answer your question. What I do know is, as in any business (private practice included), the more demand there are for your service, you can generate more income. If you do well enough in your area of specialty, your services will be very sought after. In actual fact, you do not have to put a cap on how much you can earn. You just have to make sure that you provide the best professional service around. However, I seldom see excellent consultants retire early. Most of them continue to practice throughout their lives. They will find ways to contribute in any way towards medicine and society in general.
I think what you are looking for is FINANCIAL FREEDOM.
Surprisingly, financial freedom has NOTHING to do with how much you earn
(active income). Have you heard a story about a doctor earning RM 25,000 per
month but with monthly loan commitments of RM 40,000?
Here’s a real life scenario. I’ve seen it happen among
quite a number of my colleagues.
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Household income: RM
15,000 (including locums)
A continental car,
renowned for frequent breakdowns: RM 1,300 per month (loan commitment)
A Honda Civic: RM 1200
per month
A large RM 500K+
semi-D landed property (joined loan): RM 2600 per month
Personal loan commitments
(used for wedding ceremony): RM 1500 each (RM 3000)
Credit card
commitments: RM 2000 each (RM 4000)
Husband uses a Samsung
Galaxy S7 Edge
Wife uses an iPhone 6.
