When do you consider reaching escape velocity as far as investments go?

Started by finalpsychyear
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finalpsychyear

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No one really talks about this but blade has mentioned 5m LIQUID then work part time to just pay the bills maybe for another 4-5 years and if you have something left over then invest it of course. This allows u to temper SORR and maybe you may find part time the sweet spot? Does this advice change based on age 40 vs 45 vs 50 vs 55?

The stock market with contributions feels like every 4-5 years money has been doubling. I know thats not the norm and a large correction is part of the game.
 
finalpsychyear said:
No one really talks about this but blade has mentioned 5m LIQUID then work part time to just pay the bills maybe for another 4-5 years and if you have something left over then invest it of course. This allows u to temper SORR and maybe you may find part time the sweet spot? Does this advice change based on age 40 vs 45 vs 50 vs 55?

The stock market with contributions feels like every 4-5 years money has been doubling. I know thats not the norm and a large correction is part of the game.
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How would age not be a factor in retirement calculations?
 
The money is easy. The work is enjoyable. People won’t quit cold. They are literally paying me $1000/hr right now and I’m home by 12pm. All I literally did would 7 blocks by 10am? Cancel one high potassium ortho hip

Would u give that up?

And I repeat the same process Wednesday. Easy cash.

I could work Friday also but got us open tickets for Labor Day weekend in New York to fly to. So I told my buddy to take the gig. So he will work Friday. He’s gonna to get addicted to the easy cash.

I don’t know how long it will last. May as well ride it.

Now if I was rotting away for 450k/8 weeks a year in south Florida. With 1 full weekend a month. 5 days. A week plus calls as my only option. Sure. I would consider not working
 
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aneftp said:
The money is easy. The work is enjoyable. People won’t quit cold. They are literally paying me $1000/hr right now and I’m home by 12pm. All I literally did would 7 blocks by 10am? Cancel one high potassium ortho hip

Would u give that up?

And I repeat the same process Wednesday. Easy cash.

I could work Friday also but got us open tickets for Labor Day weekend in New York to fly to. So I told my buddy to take the gig. So he will work Friday. He’s gonna to get addicted to the easy cash.

I don’t know how long it will last. May as well ride it.

Now if I was rotting away for 450k/8 weeks a year in south Florida. With 1 full weekend a month. 5 days. A week plus calls as my only option. Sure. I would consider not working
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Would you keep doing what you are even at 10m liquid NW?
 
Age is definitely a factor…. And so is work culture.
we are liquid 5mil but that’s not enough for me. I still work full time but it’s a cake job - one fte really is 40h/week. I’m 52. I’ll work full time another 5 years I think - as long as my health holds up. Then I’ll scale back. My old job I was counting the hours to retirement… now I like work.
I think the key is to find an easy job… whatever that means to you. One of my old partners retired early bc of the BS - now he works Locums one week a month in San Angelo. He likes it and it stops from dipping into retirement…. This is the key… keep working somewhat and let that $ grow.
My current job has a few 70 plus guys and half still work all the time and take call….
Find an easy job
 
amyl said:
Age is definitely a factor…. And so is work culture.
we are liquid 5mil but that’s not enough for me. I still work full time but it’s a cake job - one fte really is 40h/week. I’m 52. I’ll work full time another 5 years I think - as long as my health holds up. Then I’ll scale back. My old job I was counting the hours to retirement… now I like work.
I think the key is to find an easy job… whatever that means to you. One of my old partners retired early bc of the BS - now he works Locums one week a month in San Angelo. He likes it and it stops from dipping into retirement…. This is the key… keep working somewhat and let that $ grow.
My current job has a few 70 plus guys and half still work all the time and take call….
Find an easy job
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So when people are at 5m liquid are you just letting the portfolio compound or do you still invest heavy. I was told at that point it really is more about paying your expenses and letting the portfolio possibly double in another 5 ish years. Every 100k added doesnt' do much long term once you are at the point you are at?
 
finalpsychyear said:
So when people are at 5m liquid are you just letting the portfolio compound or do you still invest heavy. I was told at that point it really is more about paying your expenses and letting the portfolio possibly double in another 5 ish years. Every 100k added doesnt' do much long term once you are at the point you are at?
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This true. Run the numbers yourself. Investing 100k a year when you have 5 m in equities doesn’t change trajectory very much at all.
 
I am at escape velocity now and I disagree with @aneftp.

My plan is 55 and out- won’t get stuck looking at numbers.

Average age of an American at the time of death is 76.5.

Choose carefully what you do btw 55 & 70.

Had a banger day this past Saturday. Worked hard at one of our biggest tournaments. 280 registered players.

Lost first match for the gold. Came back and won the second match. Then lost the tie breaker and went home with Silver. 😔

It was a great weekend with good friends and good vibes outside work.

Don’t get stuck in the Rat race.

This weekend and the build up to the tournament was priceless.


1788197446068.jpeg


1788197533398.jpeg


Finished the night with Rebelution and Iration. ❤️❤️

1788197497218.jpeg
 
finalpsychyear said:
So when people are at 5m liquid are you just letting the portfolio compound or do you still invest heavy. I was told at that point it really is more about paying your expenses and letting the portfolio possibly double in another 5 ish years. Every 100k added doesnt' do much long term once you are at the point you are at?
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I still max my retirement. I spend money as needed and until this year, I haven’t sold anything in my brokerage to handle finances. Work gives us plenty to live off of. Sold equities due to a big investment purchase.

Portfolio grows fast once you hit 5.
 
sevoflurane said:
I still max my retirement. I spend money as needed and until this year, I haven’t sold anything in my brokerage to handle finances. Work gives us plenty to live off of. Sold equities due to a big investment purchase.

Portfolio grows fast once you hit 5.
Click to expand...

Most of my friends circle include anes, urology, rads, psych no one has more than 1-2m at age 40-42 LIQUID INVESTED mostly due to housing, nannies, 2-4 kids all hitting at the same time.

Once you were at 5m+ and beyond did you change your contribution or let the portfolio do the heavy lifting? If im not mistaken you got there sub 50 by working your tail off in BFE for several years and saving/investing 50% or more.

Assume for examples sake someone at 40 yo. 4-5m liquid invested. Saving 100-200k seems not to really matter anymore. Then i hear if i want to be done in 10 years ill thank myself for not doing 401k and doing mega roth instead.
 
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finalpsychyear said:
Would you keep doing what you are even at 10m liquid NW?
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Of course I would work a few more years. Maybe till I’m 56/57?

I already made up my mind. I’m not doing full time in 2 years. I’m 52.

Not full time. 1-2 days a week. Pop in.

Idk. Lots can change.

It all comes down to workload. I actually trying to find a virtual PAT chief at 300k a year. That would fit my needs better to be honest.
 
sevoflurane said:
I am at escape velocity now and I disagree with @aneftp.

My plan is 55 and out- won’t get stuck looking at numbers.

Average age of an American at the time of death is 76.5.

Choose carefully what you do btw 55 & 70.

Had a banger day this past Saturday. Worked hard at one of our biggest tournaments. 280 registered players.

Lost first match for the gold. Came back and won the second match. Then lost the tie breaker and went home with Silver. 😔

It was a great weekend with good friends and good vibes outside work.

Don’t get stuck in the Rat race.

This weekend and the build up to the tournament was priceless.


View attachment 424009

View attachment 424011

Finished the night with Rebelution and Iration. ❤️❤️

View attachment 424010
Click to expand...
Congrats!

Do you worry about getting bored at 55? Any thoughts on working part time, very low hours or is it just flat retirement?
 
finalpsychyear said:
Most of my friends circle include anes, urology, rads, psych no one has more than 1-2m at age 40-42 LIQUID INVESTED mostly due to housing, nannies, 2-4 kids all hitting at the same time. Im entering that phase now but i am ahead of all them who are now in the mindset to invest every cent.

Once you were at 5m+ and beyond did you change your contribution or let the portfolio do the heavy lifting? If im not mistaken you got there sub 50 by working your tail off in BFE for several years and saving/investing 50% or more.

Assume for examples sake Im at 4-5m liquid at 40 yo. I can work in overdrive and save 400-500k into the market but i dont want to do that anymore. However saving 100-200k seems not to really matter either. Then i hear if i want to be done in 10 years ill thank myself for not doing 401k and doing mega roth instead.
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Sacrificed early on as you stated. Worked hard the first 10-15 years of practice. I didn’t change my contribution into retirement accounts at 5. However, I started cutting back from work. That was the single best thing I could have done. So much freedom once you focus on your health time outside of work. We are fortunate that anesthesia is clock in clock out type of medical work. It lets you flex up or down at any point if your group is also flexible.
At some point your investment returns outweigh your full or part time job. Once you cross that line in the sand there is a lot of weight lifted from your shoulders and there is sort of a new perspective into life.
 
UscGhost said:
Congrats!

Do you worry about getting bored at 55? Any thoughts on working part time, very low hours or is it just flat retirement?
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I have plenty of hobbies outside of work that will keep me busy. I already take 1/2 the year off and I love my group, my partners and (most) surgeons.
My mind says 55 is what I should do. I’m a little over 3 years away. I’ll probably take a sabbatical year and see how I feel.
We have a partner who just came back from a one year sabbatical.
Took her family all over the world.
Anesthesia lets you test the waters and move in multiple directions.
 
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rick roller pump said:
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I would guess that at 5M, you are easily there unless you spend a lot
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But it sounds like everyone on here at 5m is still working FT even not being big spenders necessarily.
 
Around five liquid invested and about three more in total net worth. Plan to work 7 more years. Not because I have to but because I have things of interest that I’m doing that require a few more years of commitment. Then, I’ll play it by ear. These are high earning years and will be the difference between leaving my kids a modest amount versus leaving a life changing legacy. If the market hangs on for a few more years, it could mean legacy money. Plus, I still enjoy my work and find fulfillment. It is not as much of a daily grind as it once was.
As I look at my portfolio, it’s nice to know I could walk away at any time. That is a very freeing feeling. Now I am in it just for fulfillment. For me, it has never been solely about the money and the money was not always great. But the money is good now and I plan to keep plugging away and accomplishing my goals.
All in all, I’m pretty happy with the overall career. I should take more time off than I do, but I’m getting better about that.
 
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finalpsychyear said:
Most of my friends circle include anes, urology, rads, psych no one has more than 1-2m at age 40-42 LIQUID INVESTED mostly due to housing, nannies, 2-4 kids all hitting at the same time.

Once you were at 5m+ and beyond did you change your contribution or let the portfolio do the heavy lifting? If im not mistaken you got there sub 50 by working your tail off in BFE for several years and saving/investing 50% or more.

Assume for examples sake at 40 yo. 4-5m liquid invested. I can work in overdrive and save 400-500k into the market but i dont want to do that anymore. However saving 100-200k seems not to really matter either. Then i hear if i want to be done in 10 years ill thank myself for not doing 401k and doing mega roth instead.
Click to expand...
Once you get to 5m. After 5 years 6% return.

Save nothing 6.7m
Save 150k/yr 7.5m
Save 500k/yR 9.5m

After 10 years

Nothing is 9m
150k/yr is 11m
500k/yr is 15.5m

So saving 500k/yr is obviously still really moving the needle but the difference in saving 150k/yr vs nothing is pretty marginal. After 10 years your life likely won’t be any different with 9m vs 11m.
 
I have enjoyed this thread. I don’t have a lot to contribute other than to say, I feel fortunate to have found a job that I enjoy and am not in a rush to retire from, even if it is nowhere near as lucrative as most folks’ jobs on here. My wife is a physician too and we have a fairly modest lifestyle relatively speaking, so we are able to put 375kish/year into our various retirement accounts (including employer contributions). I just turned 42 and could see myself working in a similar capacity until 60, but I also think we could quit working in five years and continue our current lifestyle forever. I agree with Gern that being FI (maybe near FI for us) has changed my perspective on the job in a positive way. All these little milestones along the way like paying off our student loans, paying off our house, etc have helped.
 
When I look at these numbers, I wonder what people do with all their money. I’m 42 and plan on hitting ten mil liquid invested in a few years. And I have a very average job (albeit working spouse)
 
okayplayer said:
I have enjoyed this thread. I don’t have a lot to contribute other than to say, I feel fortunate to have found a job that I enjoy and am not in a rush to retire from, even if it is nowhere near as lucrative as most folks’ jobs on here. My wife is a physician too and we have a fairly modest lifestyle relatively speaking, so we are able to put 375kish/year into our various retirement accounts (including employer contributions). I just turned 42 and could see myself working in a similar capacity until 60, but I also think we could quit working in five years and continue our current lifestyle forever. I agree with Gern that being FI (maybe near FI for us) has changed my perspective on the job in a positive way. All these little milestones along the way like paying off our student loans, paying off our house, etc have helped.
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Being 42 (1984) means u likely never faced any housing or stock crash. (Assuming you been out since 2012-2014). Bottom of housing market and Nasdaq barely returning to its peak level in 2015 after 2000 crash.

Only one really bad year in the stock market (2022).
 
aneftp said:
Being 42 (1984) means u likely never faced any housing or stock crash. (Assuming you been out since 2012-2014). Bottom of housing market and Nasdaq barely returning to its peak level in 2015 after 2000 crash.

Only one really bad year in the stock market (2022).
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You’re absolutely right. Hence I’m planning on still working and not FIRE. Nobody can predict future equity returns but lower than historical returns in the next few decades would not surprise me and is hence baked into my plan to have a very low SWR. I also think, as others have noted, you mitigate this by continuing to work 1-2 days per week as a per diem your first few years of “retirement.” Helps mitigate SORR.
 
nycitygas said:
When I look at these numbers, I wonder what people do with all their money. I’m 42 and plan on hitting ten mil liquid invested in a few years. And I have a very average job (albeit working spouse)
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You’re killing it. Assuming simple index investing and working for 10 years up to now you’ve put away about 250k/yr to get to about 7m. Impressive
 
It sounds like a good amount of docs have 10M liquid by age 50 and completely stop working. Imagine if it doubles every 8 years and you die at the avg age of 82.

You would have 160M when you are 82. 9 figures seems like a great amount but achievable for many on here.

Imagine if I give my kid $1M at 21 YO and restrict him from using it until he hits 65yr old thus guaranteeing he will have some form of retirement. He would have about $40M.

Time is your most favorable head win. For new attendings, Save early/invest early and in 10 yrs you can essentially spend freely.
 
finalpsychyear said:
Would you keep doing what you are even at 10m liquid NW?
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10M liquid is a VERY high net worth.

3M and a paid off house are enough to work PT even if you are in your early 50s. That money will likely be 10M by the time you reach 65.

Compound do most of the work once you reach that number.

Most docs can make 150k+ working 2 days/week, which is more than enough to have a good lifestyle if you are debt free.

10M vs. 20M can provide identical lifestyle. Both can live in a class A neighborhood, travel 1st class, stay in 5-star hotel, have a chef that meal prep for them 3 times a week etc...


There is a diminishing return at some point regarding level of wealth IMO.

1788227775876.png
 
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We are in good times the last 5-6 years jobs wise/salary etc. ride it while you can.

I don’t know how what the future entails.

Just remember there is a lot of luck involved as well

An initial $10,000 investment on January 1, 2000, would have been worth approximately $5,000 to $5,600 on January 1, 2010, depending on whether you tracked the Nasdaq Composite or the Nasdaq-100.

Essentially an entire decade lost in the stock market 2000-2010 as most of us are aware who have lived through it plus the housing collapse in 2007-2010. After the housing boom 2001-2005 in most parts of the country.

But under different time frame 10k invested Jan 1 2020 would be worth 30k on August 31 2026. Plus housing boom 2020-2023.
 
ERRES2288 said:
You’re killing it. Assuming simple index investing and working for 10 years up to now you’ve put away about 250k/yr to get to about 7m. Impressive
Click to expand...

10 years at 12% real which is what voo has done at 250k end of year gets u 4.4m. Not sure how u get to 7 in that timeline thru index though and thats an above avg voo return.
 
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nycitygas said:
When I look at these numbers, I wonder what people do with all their money. I’m 42 and plan on hitting ten mil liquid invested in a few years. And I have a very average job (albeit working spouse)
Click to expand...

250k/yr invested for the last 10 years at 12% real in voo is 4.4m. People have loans, mortages, multiple kids, nannies, 1 income, helping parents or other family with $, private schools if local are poor options
not everyone knows right away how to invest on day 1 and makes some mistakes. This is also an unusually lucky decade with no large dot com or 08 crash.
But we r 1 large crash from everyones portfolio taking a 30-40% cut. I would love that. I think people r pretty ungrateful for the returns they have got and im expecting us all to be humbled soon.
 
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emergentmd said:
It sounds like a good amount of docs have 10M liquid by age 50 and completely stop working. Imagine if it doubles every 8 years and you die at the avg age of 82.

You would have 160M when you are 82. 9 figures seems like a great amount but achievable for many on here.

Imagine if I give my kid $1M at 21 YO and restrict him from using it until he hits 65yr old thus guaranteeing he will have some form of retirement. He would have about $40M.

Time is your most favorable head win. For new attendings, Save early/invest early and in 10 yrs you can essentially spend freely.
Click to expand...
2-3% of docs have net worth over 10 million by age 50.

50-60% have net worth between 1.5-3 million by age 50.

Those who have more than 10 million aren’t slaving at w2 jobs unless it’s paying 750k and up.

It’s through ultra savings like 200k savings a year early at age 30-33. And reinvesting it in equities

It can be through ownership in practices and selling it

Or it can be through other business ventures like real estate

Bottom line. You ain’t gonna to get to 10 million by working for Envison team health Napa at 400-500-600k a year w2 jobs
 
aneftp said:
2-3% of docs have net worth over 10 million by age 50.

50-60% have net worth between 1.5-3 million by age 50.

Those who have more than 10 million aren’t slaving at w2 jobs unless it’s paying 750k and up.

It’s through ultra savings like 200k savings a year early at age 30-33. And reinvesting it in equities

It can be through ownership in practices and selling it

Or it can be through other business ventures like real estate

Bottom line. You ain’t gonna to get to 10 million by working for Envison team health Napa at 400-500-600k a year w2 jobs
Click to expand...
You can get to 10M by the time you are 65 slaving at a 500k+ w2 job IMO.
 
finalpsychyear said:
10 years at 12% real which is what voo has done at 250k end of year gets u 4.4m. Not sure how u get to 7 in that timeline thru index though and thats an above avg voo return.
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All true. But there are periods like 1968-1980 and 2000-2010 where the market didn’t do so hot. For the soon to be or recent retiree that can be devastating if you are over exposed to stocks. I saw more than one doc who retired or went part time around 2000 who was hurting. Not to mention those that delayed retirement during those years.
 
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For many who are age 35-45 these seem like the golden age of investing in terms of returns. All one needs to do is put your money in VTI/VOO and PRESTO the multiplier effect of 12% returns per year. Well I see a lot of dark clouds ahead in the market. World wide debt is at an all time high and the Bond market is reflecting it which will hurt stock returns at some point. Social Security is going broke and that will require a tax hike, reduction in benefits and likely taxing all earnings. The Socialists are surging in popularity meaning we will see much higher taxes and Medicare option for everyone once the Democrats retake political power. These massive tax hikes with redistribution of wealth will lower growth and reduce stock returns. Social Democracies have MUCH slower growth in terms of GDP vs the USA and that is where we are headed over the next decade.

My point is that oner needs to prepare for much lower returns due to all these factors if and when the Socialists assume power in Washington. The National debt is becoming a big problem due to much higher interest rates in the bond market and even if the Socialists raise taxes by a lot their spending on new social programs won't make a dent in the debt.
 
finalpsychyear said:
No one really talks about this but blade has mentioned 5m LIQUID then work part time to just pay the bills maybe for another 4-5 years and if you have something left over then invest it of course. This allows u to temper SORR and maybe you may find part time the sweet spot? Does this advice change based on age 40 vs 45 vs 50 vs 55?

The stock market with contributions feels like every 4-5 years money has been doubling. I know thats not the norm and a large correction is part of the game.
Click to expand...

we mostly have nice houses which come with property tax
we all have to pay health insurance costs for our families until kids mid 20s

without those 2 main expenses i think many would retire way earlier
there is some feeling of not wanting to dip into that 3M or 5M or 10M snowball you built until you are done working

it seems like the path of least resistance is to maintain some type of job with good benefits in order to pay those 2 things until age 65 when medicare and SS kick in and essentially cover those costs

so i think as you gain wealth, it makes more sense to work less and less in order to just coast along and let the snowball grow without needing to dip in

your right, once you have a big enough snow ball, youll make more on the market year to year than you will taking more call
 
Here's the thing: For ordinary Americans, the danger isn't a $40 trillion bill showing up in the mailbox, but rather what it does to your money.
Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, has warned that the U.S. is heading toward a "debt death spiral," where the government must borrow simply to pay interest — a vicious self-reinforcing cycle.

But unlike Musk, Dalio doesn't foresee a formal bankruptcy.

"There won't be a default — the central bank will come in and we'll print the money and buy it," he said. "And that's where there's the depreciation of money."

In other words, the government may never technically run out of dollars — but those dollars can lose value fast. Musk has warned in the past that if current trends continue, "the dollar's going to be worth nothing."

That erosion in the value of the dollar is already visible. According to the Federal Reserve Bank of Minneapolis (4), $100 in 2025 has the same purchasing power as just $11.61 did in 1970.
 
ERRES2288 said:
Once you get to 5m. After 5 years 6% return.

Save nothing 6.7m
Save 150k/yr 7.5m
Save 500k/yR 9.5m

After 10 years

Nothing is 9m
150k/yr is 11m
500k/yr is 15.5m

So saving 500k/yr is obviously still really moving the needle but the difference in saving 150k/yr vs nothing is pretty marginal. After 10 years your life likely won’t be any different with 9m vs 11m.
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I prefer to use "Today's dollars" when evaluating the growth of a portfolio. That means you take the annual returns minus inflation to get the real return. Let's say annual returns are 7% minus 3.5% inflation leaves a real return of 3.5% per year.

A $10 million portfolio where you spend 3.5% per year gives you $350K each year from which you pay all expenses, healthcare and taxes. This leaves your nest egg relatively intact and flat in todays dollars. An important factor is whether the portfolio is pretax in a 401k or a brokerage account or a Roth account. If the money is primarily pre tax then Uncle Sam owns at least a 1/4 of your liquid net worth.
 
BLADEMDA said:
Here's the thing: For ordinary Americans, the danger isn't a $40 trillion bill showing up in the mailbox, but rather what it does to your money.
Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, has warned that the U.S. is heading toward a "debt death spiral," where the government must borrow simply to pay interest — a vicious self-reinforcing cycle.

But unlike Musk, Dalio doesn't foresee a formal bankruptcy.

"There won't be a default — the central bank will come in and we'll print the money and buy it," he said. "And that's where there's the depreciation of money."

In other words, the government may never technically run out of dollars — but those dollars can lose value fast. Musk has warned in the past that if current trends continue, "the dollar's going to be worth nothing."

That erosion in the value of the dollar is already visible. According to the Federal Reserve Bank of Minneapolis (4), $100 in 2025 has the same purchasing power as just $11.61 did in 1970.
Click to expand...
It’s virtually impossible for the US to default assuming we remain the reserve currency of the world. But yes I believe there is high risk of government printing money to inflate the debt away.
 
BLADEMDA said:
I prefer to use "Today's dollars" when evaluating the growth of a portfolio. That means you take the annual returns minus inflation to get the real return. Let's say annual returns are 7% minus 3.5% inflation leaves a real return of 3.5% per year.

A $10 million portfolio where you spend 3.5% per year gives you $350K each year from which you pay all expenses, healthcare and taxes. This leaves your nest egg relatively intact and flat in todays dollars. An important factor is whether the portfolio is pretax in a 401k or a brokerage account or a Roth account. If the money is primarily pre tax then Uncle Sam owns at least a 1/4 of your liquid net worth.
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I agree. I assumed 6 % real for 100 % global stock portfolio. We can debate what a real return might be in the future but this is about the average real return over 100 years.
 
cittykat said:
I never thought a burrito from a hole in the wall would be $18. In 10 years they could be $50.
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I can definitely see why the true middle class (making 60-100k) a year feels squeezed. But than again. The baby sitters in my neighborhood get paid $50-hr

It’s insane. I remember the girls were paid $5/hr before and we paid our baby sitter less than 6-7 years ago $15/hr. But we do live in an afluenza neighborhood where dog walking is charged $50 per dog walk was well
 
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Hoya11 said:
we mostly have nice houses which come with property tax
we all have to pay health insurance costs for our families until kids mid 20s

without those 2 main expenses i think many would retire way earlier
there is some feeling of not wanting to dip into that 3M or 5M or 10M snowball you built until you are done working

it seems like the path of least resistance is to maintain some type of job with good benefits in order to pay those 2 things until age 65 when medicare and SS kick in and essentially cover those costs

so i think as you gain wealth, it makes more sense to work less and less in order to just coast along and let the snowball grow without needing to dip in

your right, once you have a big enough snow ball, youll make more on the market year to year than you will taking more call
Click to expand...

I think this is spot on. Health insur without a job and a family of 4 is what 30k a year. Property tax is maybe 20-25k a year depending on area and house. Lets call it a 50k burn. Someone with 10m liquid should be able to budget in a 300k ish spend that covers that esp if house paid off.

I think going from a saver/investor for most of your working career to withdrawing is scary for many. You then keep working for years extra if thats the reason. I know some people need work and enjoy it and the stair step down or PT method may be the best transition.
 
aneftp said:
2-3% of docs have net worth over 10 million by age 50.

50-60% have net worth between 1.5-3 million by age 50.

Those who have more than 10 million aren’t slaving at w2 jobs unless it’s paying 750k and up.

It’s through ultra savings like 200k savings a year early at age 30-33. And reinvesting it in equities

It can be through ownership in practices and selling it

Or it can be through other business ventures like real estate

Bottom line. You ain’t gonna to get to 10 million by working for Envison team health Napa at 400-500-600k a year w2 jobs
Click to expand...

Not sure where you got those numbers but the 10m liquid invested is a very rare number and i doubt many are there by 50 yo. Thats the only number that matters when your considering stopping work unless you live in palo alto 20 years and netting 3-5m on your house sale then moving to midwest for a 1m house thats a different story.

Also im getting the sense that 10m is no longer the WOW number it used to be 3-5 years ago partly due to inflation. Recall that 10m in 2020 is around 13m today. I bet people who are closer to the 13-15m range esp liquid are not worried about healthcare and property taxes. Your talking about 1% or less of folks by age 50. I think maybe even less than 5 people on this entire super star site may be in that arena by not all by age 50.
If SDN represents 1% then thats 1% of that number.
 
anonperson said:
That's impressive. Legacy leaving wealth for sure

Kids?

Is working spouse making mid six figures?
Click to expand...
nycitygas said:
40 years old, married to dentist with her own practice. One kid with no plans on anymore.

800k in multiple retirement accounts
300k in real estate equity
2 million in taxable investment accounts (including UTMA accounts from my parents)
200 529
200k son UTMA account
600k - rough value of wife’s practice

No debt other than mortgage.

So about 4 million.

Current combined income 2024 income 1 million. Expected inheritances from our physician parents is around 8-9 million.

I expect to be worth >20 mil + by 55 which is when I will retire.
Click to expand...

You can make your own conclusions how impressive or representative this is for most.
 
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