Do part time medicine at the age of 32?

[Lothric]

Hey,

How feasible is it to move to Alaska, work as a resident (Internal medicine) for 3 years and save up 2 million bucks. Place that somewhere that yields 3 % interest (5000 dollars a month) and do part time medicine for the rest of the career?

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[Doctorows]

How do you save up 2 million bucks working as a resident?

 

[Lothric]

How do you save up 2 million bucks working as a resident?

Hi,

I meant to say work as a resident as an IM attending.

 

[doc05]

Hi,

I meant to say work as a resident as an IM attending.

What does that mean?

And no IM attending can earn that much working anywhere

 

[smq123]

Hi,

I meant to say work as a resident as an IM attending.

Do you mean to LIVE as a resident while working as an IM attending?

I don’t think you would make $2 million as an IM attending in just 3 years, even if you’re working in BFE, Alaska. I don’t think it’s feasible. 5 years, maybe.

 

[NITRAS]

To get to $2,000,000 with a straight 10% rate of return, you would have to save $27,300 a month for 5 years. $50,352/month for 3 years. Also remember you'd be using taxable accounts, which would slow things down even more.

Personally, I think your plan is a little short sighted. Life is a marathon, not a sprint. How do you want your life to look like when you are 35? 40?
Work towards those goals. Realistic goals. People need to work some, otherwise they get bored. A $2M isn't a big nest egg, especially to last 50-60 years. And 3% is just keeping up with inflation.

 

[VA Hopeful Dr]

What does that mean?

And no IM attending can earn that much working anywhere

I'm assuming it was a joke about hospitalists being glorified residents