3 years out - officially a millionaire and one step closer to saying goodbye to EM

[TooMuchResearch]

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Total unicorn job with the caveat being that I'm from the Midwest and enjoy living there

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[TooMuchResearch]

I want to enjoy my 50s and 60s because by the time people are in their 70s, most have multiple chronic diseases that prevent them from enjoying life.

Don't develop those diseases.

Written from a treadmill after coming off night shifts.

 

[TooMuchResearch]

So much wisdom here. I invest in health, Probably in a semi dumb way. I currently have 3 different gym memberships. Each place serves its purpose for me. Come September I’ll cut back to 2. They offer different things that I value.

I also think health is the key. I dont want to have $10-20m and not be able to walk or go on a nice vacation.

I’ll also echo it’s important to understand what makes you happy. When I read die with zero it resonated with me. I think mostly cause I was just turning the corner.

My wife and I value very different things. My wife likes stuff. She likes to decorate but in many ways we are both deal seekers. That being said I fly coach or maybe economy plus. I dont really value first class for the cost. I have flown first class to Europe 2x. Once was an insane free upgrade and the other was someone buying me first class tickets for my honeymoon with my wife. It was amazing. Then again im not paying 3-4x for flights. I still get off the plane and feel like ass, am tired (Sure the seats go flat etc but it’s not for me). Being in EM I can just power through the next day.

I do value nice hotels in a good location. I also value good food, but it pains me to pay $3-$6 for a soda. It is hard to reconcile this in a logical manner. I get that.

once I crossed the line financially i worry very little about spending. My wife spent a bunch of money on some outdoor furniture, never discussed with me. I dont care. She knows it. When we first got together and merged finances we would discuss any purchase over $20.. then $100.. then $1000.. Now it is more like informing one another. Putting in work set me on a path whereby i would have to really screw something up to slow my progress. I continue to save 30%+ of my income, spend freely beyond that and the money will just keep growing. I probably have 10-15 years left. I still truly enjoy my job and the people i work with.

I do want that sweet financial homerun and have some things in the pipeline..

We've decided that comfort plus or whatever the particular airline calls it is the sweet spot with rare exceptions if just me and wife are traveling and first class is just a bit more.

 

[finalpsychyear]

So much wisdom here. I invest in health, Probably in a semi dumb way. I currently have 3 different gym memberships. Each place serves its purpose for me. Come September I’ll cut back to 2. They offer different things that I value.

I also think health is the key. I dont want to have $10-20m and not be able to walk or go on a nice vacation.

I’ll also echo it’s important to understand what makes you happy. When I read die with zero it resonated with me. I think mostly cause I was just turning the corner.

My wife and I value very different things. My wife likes stuff. She likes to decorate but in many ways we are both deal seekers. That being said I fly coach or maybe economy plus. I dont really value first class for the cost. I have flown first class to Europe 2x. Once was an insane free upgrade and the other was someone buying me first class tickets for my honeymoon with my wife. It was amazing. Then again im not paying 3-4x for flights. I still get off the plane and feel like ass, am tired (Sure the seats go flat etc but it’s not for me). Being in EM I can just power through the next day.

I do value nice hotels in a good location. I also value good food, but it pains me to pay $3-$6 for a soda. It is hard to reconcile this in a logical manner. I get that.

once I crossed the line financially i worry very little about spending. My wife spent a bunch of money on some outdoor furniture, never discussed with me. I dont care. She knows it. When we first got together and merged finances we would discuss any purchase over $20.. then $100.. then $1000.. Now it is more like informing one another. Putting in work set me on a path whereby i would have to really screw something up to slow my progress. I continue to save 30%+ of my income, spend freely beyond that and the money will just keep growing. I probably have 10-15 years left. I still truly enjoy my job and the people i work with.

I do want that sweet financial homerun and have some things in the pipeline..

Its all about health. Call me crazy but i think in our lifetimes theres a chance we truly transcend aging and live longer (not forever) but of course you need to live well now to reap the potential benefits later.

I've gotten charged like 5 or 6 dollars bc of not saying tap when i was being asked if i wanted still or sparkling water when i ordered water that drove me so mad i deducted it from the tip when they wouldn't reverse it.

I think there is something when you reach a certain level of finances and your still working full time knowing you can just spend whatever you make i guess thats coast fire but its another level up during the FIRE journey.

 

[finalpsychyear]

Don't develop those diseases.

Written from a treadmill after coming off night shifts.

Strong work unless..

 

[bky3c]

I want to enjoy my 50s and 60s because by the time people are in their 70s, most have multiple chronic diseases that prevent them from enjoying life.

Don't develop those diseases.

Written from a treadmill after coming off night shifts.

Yeah, I was going to push back on that a bit, too. It's unfortunately true that most people do have multiple chronic diseases by the time they reach their 70s (if they even live that long), but we all know it doesn't necessarily have to be that way, and I don't think it was that way for our great-grandparents' generation. Sure, you can get screwed by genetics and end up with ALS or something, but the vast majority of this stuff is preventable. Fruits, vegetables, exercise, sleep. Not that I won't enjoy my 50s and 60s anyway, but I plan on running circles around my peers when I'm in my 70s and beyond. And I want that "50+ year member" banner on my profile here. 😆

 

[Janders]

The issue with working 6 days per month (though I likely need 8 per month average to remain a partner in my practice) is that my overhead for malpractice, medical insurance, etc is the same and unless I stop 401k contributions my take home is probably approaching zero dollars.

Yeah, it’s not exactly zero dollars but as you cut shifts to under 10 it starts to really change the functional pay rate…

If you have some admin responsibilities to help cover that is one way, otherwise I agree going under 8 in a system where you cover your malpractice and other costs starts to be less and less appealing.

 

[sloh]

I hate the uber eats stuff and purposely dont have it so i dont eat out as much and it force me to cook and be healthier. Kids need jobs and work and financial training from early on.

You’re not missing out on much. Most food doesn’t travel well and restaurants are incentivized to maximize palatibility in the cheapest way possible and with a blunt hammer with excessive oil, frying, super fatty meats, high calorie sauces, cheap and high calorie density starchy carbs.

I can whip up a meal in less than 10-15 minutes that tastes better and is a fraction of the calories. Stay under 10% body fat year round with no issues.

Ninja creami’s with fair life, grass fed and finished tenderloins/beef, sous vide chicken breasts, wild sockeye salmon, eggs with additional egg whites, octopus, lump crab, shrimp, kamut cereal, Napa cabbage, Korean seasoned bean sprouts and spinach, chicken stock, fruits in season, strategic use of low calorie seasoning and sauces (g Hughes, kinder’s truffle, maggi).

 

[finalpsychyear]

You’re not missing out on much. Most food doesn’t travel well and restaurants are incentivized to maximize palatibility in the cheapest way possible and with a blunt hammer with excessive oil, frying, super fatty meats, high calorie sauces.

I can whip up a meal in less than 10-15 minutes that tastes better and is a fraction of the calories. Stay under 10% body fat year round with no issues.

Ninja creami’s with fair life, grass fed and finished tenderloins/beef, sous vide chicken breasts, wild sockeye salmon, eggs with additional egg whites, octopus, lump crab, shrimp, kamut cereal, Napa cabbage, seasoned bean sprouts and spinach, chicken stock, fruits in season, strategic use of low calorie seasoning and sauces.

I do OMAD 75% of the time with main dish plus a oatmeal/wild blueberry/chia seed dessert and side of fage full fat greek yogurt. If i lift i add bone broth (with collagen powder) and 2 scoops whey protein post workout on lift days. I eat wild salmon 2x a week, chipotle 1x a week, pho 1x a week, the other days i have veggie 3-4 egg organic omelets with goat cheese and avocado or these organic chicken burgers from costco. Its not perfect but its fairly quick and mostly solid ingredients

Of course sometimes wknds will be dinner out but even then its indian/pho most of the times. I love thai food and homemade pizza but those are usually 1x a month deals.


Edit: gut health is only just starting to be understood but thats where next level health is at. Fermented foods are great. I've noticed when gut health is in check there are no cravings for crap food if everything else like sleep, diet, exercise and stress management is firing well.

 

[xaelia]

Trust me, once you start it will be very very easy. Money may not make you happy but money sure does make it easier, takes away stress, and therefore in a sense do make you happier.

We have housecleaners, lawn person. When my car starts to give me trouble, I just get another. I got a few lake houses. When I travel, its all upgrades. Trips have guides and personal driver. Golf, don't care about costs of equipment or rounds. I tip crazy amounts now like 100% for a massage. My boat died on the lake and needed a new engine, paid cash for a new boat.

I am posting after our flight was delayed and missed our connecting flight home. It is 12am and I am getting an Uber drive me 3 hrs home. Don't care about the costs.

You're on an entirely different level – I'm at Coast FIRE and the deposits are exceeding the withdrawals, so I'm looking at little upgrades.

You're in F**K YOU FIRE-land.

 

[emergentmd]

I am very fortunate and if business does well for another 2-3 years, I think I will be 99.9% insulated from any external events.

I will say working to pay the bills kind of sucked early on. Then moved to Coast Fire took off some stress but liquidity was still a big burden. Once you move to true FIRE, you have a different relationship with money and time.

 

[Groove]

My nostalgic redemptive reappraisal of EM from other day has now passed and I'm 100% back on board with escaping this field as quickly as possible. Carry on!

 

[WhatJobDoIPick]

My nostalgic redemptive reappraisal of EM from other day has now passed and I'm 100% back on board with escaping this field as quickly as possible. Carry on!

Yeah that's the problem. You'll have one shift where everything is smooth and people are nice and then WHAM it's right back to the ****mines.

 

[finalpsychyear]

My nostalgic redemptive reappraisal of EM from other day has now passed and I'm 100% back on board with escaping this field as quickly as possible. Carry on!

100% agree. Everyone should try and reach FIRE as quickly as possible within reason. Then they will truly figure out how much they really need to work or love medicine.

I feel medicine is becoming more thankless and incr work with less pay inflation adjusted to keep the hamster running around till they crook. Let us be free!

 

[Splenda88]

100% agree. Everyone should try and reach FIRE as quickly as possible within reason. Then they will truly figure out how much they really need to work or love medicine.

I feel medicine is becoming more thankless and incr work with less pay inflation adjusted to keep the hamster running around till they crook. Let us be free!

The idea of Coast FIRE is very appealing. I don't think I will stop working anytime soon, but I just don't like to have the cloud of financial 'insecurity' hovering my head.

 

[emergentmd]

I will always work 1-3 dys a month until I can not physically do it anymore which in FSEDs its not very taxing. I think once you stop critically thinking and socializing, your brain starts to become mush. Plus, I never want to say I am officially retired until I physically am not able to anymore.

 

[finalpsychyear]

The idea of Coast FIRE is very appealing. I don't think I will stop working anytime soon, but I just don't like to have the cloud of financial 'insecurity' hovering my head.

For me you are still stuck working even with coast fire but maybe less pressure and can work part time. Its great if you love your job. I would rather just get to the finish line early and be young ( sub 50) and then only return to PT work if i felt i truly needed/missed it.

 

[sloh]

and then only return to PT work if i felt i truly needed/missed it.

Very difficult to get back into medicine if you stop completely. I would work PT until I couldn't anymore.

 

[AlmostAnMD]

Very difficult to get back into medicine if you stop completely. I would work PT until I couldn't anymore.

Yeah I ran into the same issue

I've been out most of a year now...got a recruiter call for a sweet gig but as I started to enter my CV into their portal.....I just closed it out. I honestly don't think I could go back for any time of gig/rate/etc. Done and done.

 

[finalpsychyear]

Very difficult to get back into medicine if you stop completely. I would work PT until I couldn't anymore.

Thats true and i dont think anyone should ever not stair step down. Full time to PT then maybe 1-2 days a weeek before quiting. Financially 10m liquid is great to have but some people need to work some amount for the ideal balance. I hope to have that problem. I also think your brainn needs some stress so there are trade offs meaning you might not LOVE the 1-2 days a week but its probabably good for you esp structually so that all goes into consideration when you have won the financial reward of working.

 

[Pudortu]

Thats true and i dont think anyone should ever not stair step down. Full time to PT then maybe 1-2 days a weeek before quiting. Financially 10m liquid is great to have but some people need to work some amount for the ideal balance. I hope to have that problem. I also think your brainn needs some stress so there are trade offs meaning you might not LOVE the 1-2 days a week but its probabably good for you esp structually so that all goes into consideration when you have won the financial reward of working.

This is exactly what I want to do if I get to 8 figures. 2 shifts/week. Rest of the week to frolick. My last 2 months of residency were garbage and I was on electives and my brain was super slow. Can’t ever let that happen again.

 

[finalpsychyear]

This is exactly what I want to do if I get to 8 figures. 2 shifts/week. Rest of the week to frolick. My last 2 months of residency were garbage and I was on electives and my brain was super slow. Can’t ever let that happen again.

Interesting. I was working 10-20 hrs total per week in my 4th year of residency and it was one of the greatest years of my life. Worked out 5-6 days a week sometimes twice a day and played tennis most days, was dating more nights than not and others read books and hung out with friends.

 

[GatorCHOMPions]

Interesting. I was working 10-20 hrs total per week in my 4th year of residency and it was one of the greatest years of my life. Worked out 5-6 days a week sometimes twice a day and played tennis most days, was dating more nights than not and others read books and hung out with friends.

4th year medical school was prime living too, even younger than in residency, but more broke.

 

[finalpsychyear]

4th year medical school was prime living too, even younger than in residency, but more broke.

Yeah it was also good but having some money like in residency makes a difference and in residency you were on the cusp on finally being done with the whole process. In other fields like tech your right you'd be medical school age but making 100k+. Its a combo of youth and money that we didn't experrience in medicine but yeah those small moments are special.

 

[bravotwozero]

You’re not missing out on much. Most food doesn’t travel well and restaurants are incentivized to maximize palatibility in the cheapest way possible and with a blunt hammer with excessive oil, frying, super fatty meats, high calorie sauces, cheap and high calorie density starchy carbs.

I can whip up a meal in less than 10-15 minutes that tastes better and is a fraction of the calories. Stay under 10% body fat year round with no issues.

Ninja creami’s with fair life, grass fed and finished tenderloins/beef, sous vide chicken breasts, wild sockeye salmon, eggs with additional egg whites, octopus, lump crab, shrimp, kamut cereal, Napa cabbage, Korean seasoned bean sprouts and spinach, chicken stock, fruits in season, strategic use of low calorie seasoning and sauces (g Hughes, kinder’s truffle, maggi).

My man! that is awesome. I started looking up recipes and cooking on my own because I figured that's the best way i'll get to control my calories. Can make my own pizza and smash burgers, certainly for a lot less calories. Tastes better? that would be pushing it lol. I'm able to cut down on calories, because i'll use extra lean ground beef, and fat free cheese/turkey pepperoni on the pizza. Is going to taste like shake shack, or some boutique ny style pizzeria? Not a chance. but is it maybe 70% of the way there? yes, good enough to satisfy you and not make you feel deprived on a diet.

Ninja Creamy is an absolute game changer. I mean, you can make an entire pint of vanilla ice cream on this thing that has only 200 calories, with the creaminess of regular ice cream. Compare that with a pint of ben and jerry's that's easily over a 1000 calories.

 

[finalpsychyear]

My man! that is awesome. I started looking up recipes and cooking on my own because I figured that's the best way i'll get to control my calories. Can make my own pizza and smash burgers, certainly for a lot less calories. Tastes better? that would be pushing it lol. I'm able to cut down on calories, because i'll use extra lean ground beef, and fat free cheese/turkey pepperoni on the pizza. Is going to taste like shake shack, or some boutique ny style pizzeria? Not a chance. but is it maybe 70% of the way there? yes, good enough to satisfy you and not make you feel deprived on a diet.

Ninja Creamy is an absolute game changer. I mean, you can make an entire pint of vanilla ice cream on this thing that has only 200 calories, with the creaminess of regular ice cream. Compare that with a pint of ben and jerry's that's easily over a 1000 calories.

hmm need to grab me one of those. A scoop of tasteless whey and its a protein dessert ? Also, your saving your body from the countless chemicals and nonsense thats in ben and jerrys that makes it oh so good you can't stop eating it like an addict thats what they want.

 

[sloh]

My man! that is awesome. I started looking up recipes and cooking on my own because I figured that's the best way i'll get to control my calories. Can make my own pizza and smash burgers, certainly for a lot less calories. Tastes better? that would be pushing it lol. I'm able to cut down on calories, because i'll use extra lean ground beef, and fat free cheese/turkey pepperoni on the pizza. Is going to taste like shake shack, or some boutique ny style pizzeria? Not a chance. but is it maybe 70% of the way there? yes, good enough to satisfy you and not make you feel deprived on a diet.

Ninja Creamy is an absolute game changer. I mean, you can make an entire pint of vanilla ice cream on this thing that has only 200 calories, with the creaminess of regular ice cream. Compare that with a pint of ben and jerry's that's easily over a 1000 calories.

Good to hear man! And yeah, while a healthy version you prep may be 8/10 compared to 9 or 10/10 when eating out, is that extra juice worth the squeeze when the kcals are like 400-500 for your version vs. 1500-2000 kcals for the restaurant version? YMMV, but often not for me and not at the expense of being disgusted with the way I feel and look.

Not to mention there’s a point of diminishing returns with how “tasty” you can make food. Past a certain point, restaurants are just making dishes higher in calories, more instagram worthy, more “unique” while not really improving the actual taste and experience of the dish itself. While fat does help transport flavor, there’s a threshold you hit when a dish is so fatty it inhibits flavor perception. For me, that applies to a lot of food served at restaurants these days (lots of wagyu, smash burgers, pizza, oil, roux based sauces, mayo and cream based sauces). I went through a phase where I was trying out the most popular and best restaurants in LA every week just to see what I was missing on for a straight 2 years. After learning more about cooking and experimenting with my own dishes, it turns out the answer is “not much.” With the dilemma of paying for experiences or things, I’d rather spend my money on a nicer car I can enjoy daily without the negative impact on my body and health.

And ditto on the ninja creami. I love pairing 1 pint of ninja creami with my meals. 420-440 gram weight volume for just 190 kcals. A regular pint of Haagan dazs is like 330 grams and 1,000 kcals. It’s a great satiety hack through not just the experience of eating something with that creamy texture that also takes a while to finish, but bc many ninja creamis recipes include stabilizers like gums, it actually sits in your stomach after for a while contributing to stomach stretch mediated satiety.

This is a great article which talks about how restaurant salads these days are mostly just hype:

https://www.nytimes.com/2025/05/06/dining/big-restaurant-salads.html?unlocked_article_code=1.XU8.kiZl.OxxfDgh3lpqF&smid=nytcore-ios-share&referringSource=articleShare

 

[bravotwozero]

On a more related note, it took me about 8 years to hit 7 figure liquid asset status. Also paid off my house in full at the same time, which took about 3 years. Did zero real estate, all my investments went into stocks; initially just maxing out my solo 401k and roth, then contributing to a taxable account and making sure 10k invested every month. I basically just did the things the white coat investor mentions all the time in his blog, and it got me to where I am - the most valuable free financial advice I have ever gotten in my life.

1 mil still isn't that much money, and really nowhere near FIRE country. But it does get you to a point where your money is working harder than you are. On a good day in the stock market, I can make 3x the money I earn from working a shift!

As a result, i'm a lot less hungrier for shifts than I used to be. Pumping iron in gym with 10k steps and tracking calories/cooking takes up a decent amount of time, and I'm actually more hesitant to let work 'get in the way'.

 

[Splenda88]

On a more related note, it took me about 8 years to hit 7 figure liquid asset status. Also paid off my house in full at the same time, which took about 3 years. Did zero real estate, all my investments went into stocks; initially just maxing out my solo 401k and roth, then contributing to a taxable account and making sure 10k invested every month. I basically just did the things the white coat investor mentions all the time in his blog, and it got me to where I am - the most valuable free financial advice I have ever gotten in my life.

1 mil still isn't that much money, and really nowhere near FIRE country. But it does get you to a point where your money is working harder than you are. On a good day in the stock market, I can make 3x the money I earn from working a shift!

As a result, i'm a lot less hungrier for shifts than I used to be. Pumping iron in gym with 10k steps and tracking calories/cooking takes up a decent amount of time, and I'm actually more hesitant to let work 'get in the way'.

It might not be far since your home is paid off and depending on how your FIRE life will look like.

 

[Janders]

hmm need to grab me one of those. A scoop of tasteless whey and it’s a protein dessert ? Also, your saving your body from the countless chemicals and nonsense thats in ben and jerrys that makes it oh so good you can't stop eating it like an addict thats what they want.

Here to put a stop to Ben and Jerry’s slander. Healthy? Hell no! Chemicals and nonsense that make it addicting? Those would be cream and sugar, sir.

Guar gum being a thickener made from beans, and carrageenan a gelatin like substance from seaweed.

Ok back to rich boy talk.

 

[bravotwozero]

It might not be far since your home is paid off and depending on how your FIRE life will look like.

I'm gonna say it's halfway there. Would want to hit 2.5 mil in liquid assets before I either retire/semi-retire. Per my calculations, that's probably another 5-8 years. If I chose to relocate to other (cheaper) parts of the world, I'm already at FIRE, but would come with significant trade offs that I'm not prepared for or comfortable with.

 

[Splenda88]

I'm gonna say it's halfway there. Would want to hit 2.5 mil in liquid assets before I either retire/semi-retire. Per my calculations, that's probably another 5-8 years. If I chose to relocate to other (cheaper) parts of the world, I'm already at FIRE, but would come with significant trade offs that I'm not prepared for or comfortable with.

2.5 mil is also my number plus a paid off home to cut down my hours to part time. Hopefully, that happens sooner (< 5 yrs) than later.

 

[HemorrhagicShock]

Where do you guys live that 2.5 mil is even close to sufficient for retirement or even semi-retirement?

A million isn't anything these days. In 10 years a million will maybe buy a Diet Coke from a vending machine. In 20 years a million won't be worth your time to pick up from the floor should you happen across it.

 

[JacobMcCandles]

In 10 years a million will maybe buy a Diet Coke from a vending machine.

That's why I've been hoarding Diet Coke. Probably the surest path to being a billionaire.

 

[Splenda88]

Where do you guys live that 2.5 mil is even close to sufficient for retirement or even semi-retirement?

A million isn't anything these days. In 10 years a million will maybe buy a Diet Coke from a vending machine. In 20 years a million won't be worth your time to pick up from the floor should you happen across it.

I live in the south. I purchase a cookie cutter home ~3 yrs ago (4BR/2BA and 2-car garage) for < 300k. If the market continues to climb, I might decide to pay it off and my student loan by the end of next year or 2027.

I will be working PT and in my current job that is a salary of 175k. That should be enough to maintain my lifestyle and let my 2.5 mil in the market to double every ~8yr.

 

[bravotwozero]

Where do you guys live that 2.5 mil is even close to sufficient for retirement or even semi-retirement?

A million isn't anything these days. In 10 years a million will maybe buy a Diet Coke from a vending machine. In 20 years a million won't be worth your time to pick up from the floor should you happen across it.

I've found my money goes a bit farther in suburban houston, and TX in general. The whole no state income tax thing helps. The state government is running a surplus and even brought down my property taxes. Regardless of inflation, I think 100k of passive income would be enough to live off of for my wife and I, when considering I'd pay zero income tax on it, do not have to save for retirement or kids college. Worst case scenario, I just cut back in shifts and stay in semi-retirement and/or take a pay cut to work in a super chill freestanding ED for a little extra income. My definition of semi-retirement would be no more than 5 shifts a month, which is very doable or sustainable. Once kids leave the nest, could even sell the home and downsize to a smaller one, which would free up another 6 figure amount of cash at minimum. Lots of options to work with when you reach that point.

 

[Splenda88]

I've found my money goes a bit farther in suburban houston, and TX in general. The whole no state income tax thing helps. The state government is running a surplus and even brought down my property taxes. Regardless of inflation, I think 100k of passive income would be enough to live off of for my wife and I, when considering I'd pay zero income tax on it, do not have to save for retirement or kids college. Worst case scenario, I just cut back in shifts and stay in semi-retirement and/or take a pay cut to work in a super chill freestanding ED for a little extra income. My definition of semi-retirement would be no more than 5 shifts a month, which is very doable or sustainable. Once kids leave the nest, could even sell the home and downsize to a smaller one, which would free up another 6 figure amount of cash at minimum. Lots of options to work with when you reach that point.

I was in The Woodlands last year and it looks like a nice place to raise a family.

I find it amazing that physicians think they need at least 5M to start taking off their foot on the gas. Your home is (or should be) your biggest expense and once you no longer have that payment, you can get by easily with 10k/month regardless where you are in the country (even in Hawaii).

 

[finalpsychyear]

I'm gonna say it's halfway there. Would want to hit 2.5 mil in liquid assets before I either retire/semi-retire. Per my calculations, that's probably another 5-8 years. If I chose to relocate to other (cheaper) parts of the world, I'm already at FIRE, but would come with significant trade offs that I'm not prepared for or comfortable with.

Were you putting away 6 fig from the start of your 8 years? I have a family friend who reached out to me to help maximize his investements from his new attending salary 11 months ago. His salary and bonus for year 1 was 550k and he lives at home and gets a 12% match and primarily invested in VOO and he's in the low 400k liquid net worth.

I dont think he is lying but seems a bit high but then again he has no debt, car paymets, or rent. His avg cc expense he said is like 2500 so maybe he is telling the truth just seems a lot but maybe he has a unicorn scenerio or minimal expense and just saving and investing everything?

 

[Splenda88]

Were you putting away 6 fig from the start of your 8 years? I have a family friend who reached out to me to help maximize his investements from his new attending salary 11 months ago. His salary and bonus for year 1 was 550k and he lives at home and gets a 12% match and primarily invested in VOO and he's in the low 400k liquid net worth.

I dont think he is lying but seems a bit high but then again he has no debt, car paymets, or rent. His avg cc expense he said is like 2500 so maybe he is telling the truth just seems a lot but maybe he has a unicorn scenerio or minimal expense and just saving and investing everything?

The poster paid off his/her house in that timeframe. That might be another 400-600k given that he/she lives in Houston suburb.

 

[bravotwozero]

Were you putting away 6 fig from the start of your 8 years? I have a family friend who reached out to me to help maximize his investements from his new attending salary 11 months ago. His salary and bonus for year 1 was 550k and he lives at home and gets a 12% match and primarily invested in VOO and he's in the low 400k liquid net worth.

I dont think he is lying but seems a bit high but then again he has no debt, car paymets, or rent. His avg cc expense he said is like 2500 so maybe he is telling the truth just seems a lot but maybe he has a unicorn scenerio or minimal expense and just saving and investing everything?

I'm a he.

The first 2-3 years, no. Reason being I was putting away part of the money making jumbo payments on student loans, and part on saving/investing. I also didn't buy a house until 4 years ago, so was still renting back then. Once the student loans were paid off, I cranked up investments to 6 figures.

Your friends scenario seems unlikely, but not impossible if he is frugal, although I'd expect him to have less after paying taxes. Dunno

 

[finalpsychyear]

Where do you guys live that 2.5 mil is even close to sufficient for retirement or even semi-retirement?

A million isn't anything these days. In 10 years a million will maybe buy a Diet Coke from a vending machine. In 20 years a million won't be worth your time to pick up from the floor should you happen across it.

2017 midwest it could have worked with a paid off house for some. Now the money supply has doubled so even there your looking at 5m inflation adjusted for whenever you reach it. Even then if your not working till medicare age or have insurance through partner people dont get that health ins in your 50s can run 20-30k per year if you retire early.

For anyone who wants out of medicine early 100% and wants a semi luxury life in most areas of the country minus the coasts 5-7m liquid is probabably a good range inflation adjusted imo. Thats 140-150k for 20 years getting 7%. Sure you can do with less but most are able to make 300-600k on here so why not aim higher if you enjoy it but i get it if you hate the job thats different.

 

[finalpsychyear]

The first 2-3 years, no. Reason being I was putting away part of the money making jumbo payments on student loans, and part on saving/investing. I also didn't buy a house until 4 years ago, so was still renting back then. Once the student loans were paid off, I cranked up investments to 6 figures.

Your friends scenario seems unlikely, but not impossible if he is frugal, although I'd expect him to have less after paying taxes. Dunno

Frugal it seems. he texted he spent 25k in 11mo and invested the rest. Thats not the norm.

Congrats on the paid off house and 7 fig liquid territory. Your doing great with options to work same, less, more on whatever your goals are or change in the future.

 

[HemorrhagicShock]

Were you putting away 6 fig from the start of your 8 years? I have a family friend who reached out to me to help maximize his investements from his new attending salary 11 months ago. His salary and bonus for year 1 was 550k and he lives at home and gets a 12% match and primarily invested in VOO and he's in the low 400k liquid net worth.

I dont think he is lying but seems a bit high but then again he has no debt, car paymets, or rent. His avg cc expense he said is like 2500 so maybe he is telling the truth just seems a lot but maybe he has a unicorn scenerio or minimal expense and just saving and investing everything?

This was pretty much my situation. Scholarship to medical school, 3 year residency, lived "like a resident," for my entire attending career except for balling out on experiences, and was able to stash massive amounts into the market. I also aggressively bought cash-flowing real estate coupled with strategic depreciation to minimize tax burden.

I worked more than full-time for my first three years and was a nocturnist, which significantly juiced my income.

That was all done within an S-corp structure, and let me tell you, it was a cheat code.

Haven't worked in over a year and while I'm not bored, I've hit the "I'm not doing anything meaningful" stage of my early retirement. With trading, and two small side hustles, I still have ample time to do whatever and am now dealing with the paradox of choice.

 

[WhatJobDoIPick]

This was pretty much my situation. Scholarship to medical school, 3 year residency, lived "like a resident," for my entire attending career except for balling out on experiences, and was able to stash massive amounts into the market. I also aggressively bought cash-flowing real estate coupled with strategic depreciation to minimize tax burden.

I worked more than full-time for my first three years and was a nocturnist, which significantly juiced my income.

That was all done within an S-corp structure, and let me tell you, it was a cheat code.

Haven't worked in over a year and while I'm not bored, I've hit the "I'm not doing anything meaningful" stage of my early retirement. With trading, and two small side hustles, I still have ample time to do whatever and am now dealing with the paradox of choice.

Don't sweat it too much...you weren't doing anything meaningful in emergency medicine either

 

[HemorrhagicShock]

Don't sweat it too much...you weren't doing anything meaningful in emergency medicine either

It's terrible that I laughed out loud at this.

It did a few things for me - made me seem cool to lay people, allowed me to get a super hot wife, and allowed me to stack serious coin before the job REALLY went to ****!

 

[Splenda88]

It's terrible that I laughed out loud at this.

It did a few things for me - made me seem cool to lay people, allowed me to get a super hot wife, and allowed me to stack serious coin before the job REALLY went to ****!

That makes me LMAO.

Money, prestige and the perception of being smart (being a MD/DO) work all the time for women as long as you are a 4-6/10 scale on looks department.

 

[finalpsychyear]

This was pretty much my situation. Scholarship to medical school, 3 year residency, lived "like a resident," for my entire attending career except for balling out on experiences, and was able to stash massive amounts into the market. I also aggressively bought cash-flowing real estate coupled with strategic depreciation to minimize tax burden.

I worked more than full-time for my first three years and was a nocturnist, which significantly juiced my income.

That was all done within an S-corp structure, and let me tell you, it was a cheat code.

Haven't worked in over a year and while I'm not bored, I've hit the "I'm not doing anything meaningful" stage of my early retirement. With trading, and two small side hustles, I still have ample time to do whatever and am now dealing with the paradox of choice.

awesome man. How many years into practice before you pulled the rip cord? Im guessing no kids to make this possible so early on.

 

[HemorrhagicShock]

That makes me LMAO.

Money, prestige and the perception of being smart (being a MD/DO) work all the time for women as long as you are a 4-6/10 scale on looks department.

Medicine allows you to bat so far out of one's league, it's almost unfair. Without the MD/DO I most certainly would have ended up a tech incel. I have 9/10 charisma, and at best 3/10 everything else!

awesome man. How many years into practice before you pulled the rip cord? Im guessing no kids to make this possible so early on.

Eight years, one kid, lots of hand-me-downs from my sister, and local grandparents to act as babysitters when needed. Wife works from home and only works beause she likes working (and the health insurance is nice too).

This is why I roll my eyes at people who say "Oh just move to BFE and get a more sustainable/higher-paying job" completely ignoring the importance of being close to extended family (spiritually, meaningfully, and financially).

One of my key pieces of advice to medical students now is if your goal is to live in a desirable and/or highly populated urban area, you cannot survive as a generalist anymore. You have to sub sub sub specialize in something and be able to provide deep value.

An ER doc, while skilled and important, is useless in a big urban context given the market dynamics of our specialty.

 

[Splenda88]

Medicine allows you to bat so far out of one's league, it's almost unfair. Without the MD/DO I most certainly would have ended up a tech incel. I have 9/10 charisma, and at best 3/10 everything else!



Eight years, one kid, lots of hand-me-downs from my sister, and local grandparents to act as babysitters when needed. Wife works from home and only works beause she likes working (and the health insurance is nice too).

This is why I roll my eyes at people who say "Oh just move to BFE and get a more sustainable/higher-paying job" completely ignoring the importance of being close to extended family (spiritually, meaningfully, and financially).

One of my key pieces of advice to medical students now is if your goal is to live in a desirable and/or highly populated urban area, you cannot survive as a generalist anymore. You have to sub sub sub specialize in something and be able to provide deep value.

An ER doc, while skilled and important, is useless in a big urban context given the market dynamics of our specialty.

It's incredible. I was oblivious to that type of advantage until I was in residency. I literally had hot women 10+ yrs younger than I that were making advances; they got disappointed when I let them know that I am happily married.

 

[RustedFox]

One of my key pieces of advice to medical students now is if your goal is to live in a desirable and/or highly populated urban area, you cannot survive as a generalist anymore. You have to sub sub sub specialize in something and be able to provide deep value.

#deepfcukingvalue