This thread is INCREDIBLY helpful. This is the hardest decision of my life, and every comment has given me something useful to think about.
#1 concern going: I will be 38 before I start working, 44 before I could break even with my engineering savings (probable scenario - see calc.xlsx - a lot of guessing with these numbers). I will lose all that time that I could be exploring the world, meeting new people, while in good health and not tied down.
#1 concern not going: Regret. The regret when I hit 38 and realize I could have been a practicing physician, interacting with and helping people every day, in a job that gives me purpose. This may stem from the fear that I don't know what retirement and travel feel like. I fear I may discover in retirement that I am aimless/directionless, or not getting the same level of personal interaction as a doctor.
Addressing concerns:
My dad and brother have put pressure on me to pursue this. They are doing it because they genuinely think I will be happier going down this path. My brother has explained to me how if I attend the same medical school as him, I probably won't need to work more than 40-50 hour weeks with the exception of the weeks prior to big exams. His 3rd year has been relatively easy, as he is smart choosing his rotations. The path still won't be easy, but it won't be much more difficult than my current job, and will provide more variety, self-improvement, and peers.
I do feel my high marks and effort will be wasted if I quit. I have a very high GPA, and it's hard to stop the momentum when I know if I just endure it, I will likely be accepted. I have pretty much everything lined up to apply now.
I have a limited but accurate understanding of day-to-day medicine. I have shadowed a doctor who was bitter and highly discouraged going. He is making under 100k working long hours and frustrated at the paperwork and the many drug-seeking patients. He lives in a drug trafficking area that already had enough docs (saturated market).
I shadowed an osteopathic surgeon who clearly worked very hard to get where he is. He still works 70 hr weeks, and is very OCD about his work. I did not enjoy surgery at all. These two examples discourage me from pursuing medicine.
I have also shadowed at an amazing rural family practice. This group of 5-6 doctors have done everything right to set up a perfect practice. The entire staff is positive and happy, most paperwork and tedious work has been delegated to management, scribes, etc. I love the interaction with the patients at this facility. The doctors are respected, and the patients are happy to be there. The doc has time to dedicate to the patients because they don't have to deal with all the overhead work. Income at this clinic is extremely high, as more procedures can be done (rather than referred) in a rural practice and flow-rate of patients is very high. I would LOVE to work at a practice like this. Having said that, this environment is rare and difficult to replicate, taking a lot of effort. Building a team of positive, friendly coworkers may be difficult. My brother is focused on setting up this exact type of practice and he is 4 years ahead of me, so it is possible I could walk into an environment like this. I would be forced rural, which I'm not sure I would like. There's the risk of big hospital groups buying out these small facilities in the future. The risk of committing 7 years of my life aspiring to this type of practice is big, as there is no guarantee I will find or build such a practice after residency.
I worry that my mind will be forced to think about only medicine for the next 7 years. I like learning a broad array of things. To what degree do you think it is necessary to love the study material in order for it to be the right decision? I do not feel a love for it. Studying medicine to me is not particularly interesting, about on par with studying any other subject.
My plan is to continue with applications, hopefully get accepted, and then take temporary leave from my job (or quit if necessary) and travel the world for 7 months. This may give me enough time to identify if I truly want to dedicate the next 7 years to medicine. I will be taking a medical mission trip to Guatemala in the summer prior to interviews. Hopefully that will reveal a bit as well.
Please continue giving advice. This is really helping me!!