How to get out of Emergency Medicine

[Sun Dog]

I’m buying every apartment building I can with my money or OPM

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[EctopicFetus]

Real estate is a good out but is time consuming. I still enjoy em. I want to buy more real estate but im waiting to find the right opportunities.

 

[ERDude]

I considered getting into RE several years ago but ultimately decided to focus on aggressive saving and investing (in mostly low cost index funds but I enjoy some stock picking for fun with about 5% of my portfolio). RE offers leverage on your money so I think there is opportunity to accelerate your NW growth but it comes with more risk (I think) and it’s also a second job.

I’ve admittedly gotten lucky with good timing in excellent market returns over the past decade.

The other big FI move in my view is not overspending on your house (and less so cars, private schools)

If your spouse makes decent to good money that sure helps.

But even doing only the simple things you should at least be able to get to a situation of relative FI within 8-10 years post residency and that gives you options to not work 18 shifts/mo or stay at an awful job bc you can’t afford to miss one month of pay.

 

[namethatsmell]

One of my colleagues was looking for a way out for years. Along the way she started picking up a few shifts at an urgent care on steroids (can get CTs, etc). She makes less there than in the ED, but not that much less--especially when she factors in the time she saves with a vastly shorter commute, being able to walk out of her UC shift with all her notes done, and no required hospital meetings. She also doesn't have to deal with all the admission phone calls, wrangling consultants, or unreasonable patient admission requests since she just directs any of those to her local ED. And she never works there past 10pm. About a year ago she stopped stressing about finding some perfect alternative to the ED and she just started solely working at the UC. She's still super happy.

 

[cyanide12345678]

Plan to do a lot of real estate soon. Just waiting for my last final geographic move. Though in reality, i might start with syndication deals first before anything else to minimize time that i have to spend, and most likely the operators of large syndications will be far more skilled than me. Been looking at a lot of deals at crowdfunding.com, arborcrowd etc

Right now primarily saving into low cost etfs - roughly 200k per year of ETF buying plus option put trading to essentially add another 1-2 percent annual return.

 

[bravotwozero]

I think a bunch of us should get together and form our own syndication. Also, anyone have any experience with Angel Investing/startups. It's risky, but your capital gains are 100% tax exempt upto $10 million!