How much do you save/invest every year?

[RangerBob]

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So ur liquid excluding the house is 1.4. Big congrats. Im not a fan of counting primary residence for or against someones "fire numbers" unless they r abt to move and downgrade.

R u 5-7 years out?

No, we're at $800k with the house. I agree though that the value of one's home is kind of meaningless unless they're about to move, but if we're talking net worth it seems it should be included.

Our retirement accounts are bit over $600k.

Student loans are still over $200k. Yeah, we're about 5-7 years our. We would've been more ahead, but I refinanced almost all my loans at 1-2.5% for 15 years. So it makes little sense to be aggressive and pay them off early.

I wish we were further ahead, but now we're finally getting things sorted out--maximizing retirement contributions. We didn't really put anything into retirement throughout residency, when in hindsight it would have been easy to do so.

 

[finalpsychyear]

Has anyone net worth substantially increased this year given that incredible stock market return?

Mine went from ~1 mil to 1.3 mil

My spouse has increased our spending. She has a taste for finer things.

bro index funds are up 25-30% and the year is not over. Most of these cats have 3-4m on jan 1 of this year to start so they are likely up close to 7 figs.

 

[abolt18]

bro index funds are up 25-30% and the year is not over. Most of these cats have 3-4m on jan 1 of this year to start so they are likely up close to 7 figs.

Yeah I'm up 220% this year, but that's mostly from saving a lot. NW on Jan 1 was $157K. As of Nov 1 it was up to $520K. Phenomenal returns and aggressive saving have been essential.

 

[Nocturnist]

Has anyone net worth substantially increased this year given that incredible stock market return?

Mine went from ~1 mil to 1.3 mil

My spouse has increased our spending. She has a taste for finer things.

Just hit 4M net worth today, up around 500k on the year.
8 years out of residency, substantially younger than 40.

1.2M in retirement
800k in brokerage
300k in cash
1.2M equity in primary home
500k equity in vacation home.

Nw up 100k just this week since the election.

 

[Splenda88]

Just hit 4M net worth today, up around 500k on the year.
8 years out of residency, substantially younger than 40.

1.2M in retirement
800k in brokerage
300k in cash
1.2M equity in primary home
500k equity in vacation home.

Nw up 100k just this week since the election.

You have been killing it as a nocturnist.

I am on track to make ~450k as a hospitalist this year and I don't know where all that $$$ go. I guess I am going to have to tell my spouse to stop spending.

 

[Nocturnist]

You have been killing it as a nocturnist.

I am on track to make ~450k as a hospitalist this year and I don't know where all that $$$ go. I guess I am going to have to tell my spouse to stop spending.

I hear you. We started paying for daycare this august at 3k/month and I'm just glad the stock market is crushing it cuz I definitely won't have any extra left over to dump into my brokerage for awhile.

As long as ya'll just max both your retirement accounts and roths, you'll be absolutely fine. That's around 60k a year not including any employer contribution- at 8% a year in 25 years you're looking at 5M retirement.

Also strongly recommend if you don't have a prenup that you start thinking about a postnup. Nothing will destroy your nw more than a divorce.

 

[Saddleshoes]

Has anyone net worth substantially increased this year given that incredible stock market return?

Mine went from ~1 mil to 1.3 mil

My spouse has increased our spending. She has a taste for finer things.

YES!!!!
BUT--- Remember all that net worth is "Paper Money". One's daily/monthly/yearly spending needs to be based on "Earned Money".

 

[Nocturnist]

YES!!!!
BUT--- Remember all that net worth is "Paper Money". One's daily/monthly/yearly spending needs to be based on "Earned Money".

I'm not sure i understand what you're trying to say?

 

[thumbz]

You have been killing it as a nocturnist.

I am on track to make ~450k as a hospitalist this year and I don't know where all that $$$ go. I guess I am going to have to tell my spouse to stop spending.

Literally same-sies - I'll gross $450 this year, which is giving me a net of $270k.

This year I paid $110,000 in home renovations - the equity in my house is around $250k
Saved $55,000 with employer matching
Saved $40,000 into my taxable brokerage

So with the renovations since they're "saved" in my mind I managed to save $205k including my retirement ($30k was the employer match which is awesome).

Next year will be worse as I'm going to make a horrible financial decision and buy a McLaren.

I'm trying to figure out my life right now - the problem I have is I love to work so I have no care to focus on FIRE which causes me to spend way too much on silly stuff.

I hear you. We started paying for daycare this august at 3k/month and I'm just glad the stock market is crushing it cuz I definitely won't have any extra left over to dump into my brokerage for awhile.

As long as ya'll just max both your retirement accounts and roths, you'll be absolutely fine. That's around 60k a year not including any employer contribution- at 8% a year in 25 years you're looking at 5M retirement.

Also strongly recommend if you don't have a prenup that you start thinking about a postnup. Nothing will destroy your nw more than a divorce.

Literally cut my net worth by 60% this year thanks to a divorce - total NW is $1.1mil now, my spouse took closer to $1.5 mil.

 

[Monocles]

Has anyone net worth substantially increased this year given that incredible stock market return?

Yup on an absolute tear.

Retirement changes YTD: 525k -> 823k
NW changes YTD: 841k -> 1.25m

I am part time so my market gains have outpaced my physician salary LMAO. I can now say that I "work in finance" (as my primary income) and if people really dig I will sheepishly admit that I work as a psychiatrist "on the side".

My complete exit from medicine has now been pushed up to Oct 2027 - let's hope the wind in the sails continue!!

 

[Splenda88]

This year I paid $110,000 in home renovations - the equity in my house is around $250k
Saved $55,000 with employer matching
Saved $40,000 into my taxable brokerage

I'm trying to figure out my life right now - the problem I have is I love to work so I have no care to focus on FIRE which causes me to spend way too much on silly stuff.



Literally cut my net worth by 60% this year thanks to a divorce - total NW is $1.1mil now, my spouse took closer to $1.5 mil.

I also like my job more than I thought I was going to. It's not about FIRE. It's about freedom for me.

 

[sloh]

Had about 400k in gains this past year and peaked at around 2.2M. Just put a big deposit down on a house though so will take me a couple months to get back up to 2M. Partner is in anesthesia but we keep our finances separate for now.

 

[Splenda88]

So with the renovations since they're "saved" in my mind I managed to save $205k including my retirement ($30k was the employer match which is awesome).

Next year will be worse as I'm going to make a horrible financial decision and buy a McLaren.

I'm trying to figure out my life right now - the problem I have is I love to work so I have no care to focus on FIRE which causes me to spend way too much on silly stuff.



Literally cut my net worth by 60% this year thanks to a divorce - total NW is $1.1mil now, my spouse took closer to $1.5 mil.

Will you be buying a brand new one?

I am thinking about buying a 2022 Aston Martin in 2026

 

[Nocturnist]

Will you be buying a brand new one?

I am thinking about buying a 2022 Aston Martin in 2026

You guys need to go to a dealer and at least inquire about the cost of routine maintenance before you pull the trigger, and get a new quote from your insurance company.

As the owner of a super car (I won't say which one because it'll likely doxx me), between maintenance/insurance/premium gas/tires it's been 20-30k a year just to own it.

 

[thumbz]

Will you be buying a brand new one?

I am thinking about buying a 2022 Aston Martin in 2026

Hah good lord no the depreciation curve is insane. I'm looking to get a 2020ish one - budget will be $200-$250. Same thing with the Aston's, used is such a great deal. If I lived in a big city I would be so tempted to pick up a DBX given the wild depreciation on them. I love Aston's, I so strongly support you pulling the trigger on one.

You guys need to go to a dealer and at least inquire about the cost of routine maintenance before you pull the trigger, and get a new quote from your insurance company.

As the owner of a super car (I won't say which one because it'll likely doxx me), between maintenance/insurance/premium gas/tires it's been 20-30k a year just to own it.

It's a great point for sure. I have an R8 right now so I'm at least familiar with the expenses (need to get front brakes done and it's a $4200 bill). If someone was eager they could doxx me with my med school posts alone but I can't imagine anyone truly cares enough.

State farm is the way to go for supercar insurance. I'm $2500 a year on the R8 and was quoted $2800 for a 2020 720s. Hagerty was going to be $5000 for the R8, couldn't imagine what they would be on the 720.

I figure I'll budget about $15k/yr for maintenance on the 720 - I'm going to do a CPO one for sure

 

[Neopolymath]

Hah good lord no the depreciation curve is insane. I'm looking to get a 2020ish one - budget will be $200-$250. Same thing with the Aston's, used is such a great deal. If I lived in a big city I would be so tempted to pick up a DBX given the wild depreciation on them. I love Aston's, I so strongly support you pulling the trigger on one.


It's a great point for sure. I have an R8 right now so I'm at least familiar with the expenses (need to get front brakes done and it's a $4200 bill). If someone was eager they could doxx me with my med school posts alone but I can't imagine anyone truly cares enough.

State farm is the way to go for supercar insurance. I'm $2500 a year on the R8 and was quoted $2800 for a 2020 720s. Hagerty was going to be $5000 for the R8, couldn't imagine what they would be on the 720.

I figure I'll budget about $15k/yr for maintenance on the 720 - I'm going to do a CPO one for sure

What is your driving restriction on that R8 State Farm quote? Also, congrats. The experience is well-worth it for me as well.

 

[sloh]

You guys need to go to a dealer and at least inquire about the cost of routine maintenance before you pull the trigger, and get a new quote from your insurance company.

As the owner of a super car (I won't say which one because it'll likely doxx me), between maintenance/insurance/premium gas/tires it's been 20-30k a year just to own it.

911 turbo s also makes for a great daily 🙂

Finance then sell at around 60-70k miles when warranty runs out, make sure you have an allocation and slip into another. Rinse and repeat

 

[Splenda88]

911 turbo s also makes for a great daily 🙂

Finance then sell at around 60-70k miles when warranty runs out, make sure you have an allocation and slip into another. Rinse and repeat

My friend just bought a brand new one for close to 200k

 

[thumbz]

What is your driving restriction on that R8 State Farm quote? Also, congrats. The experience is well-worth it for me as well.

I actually have none - they know it's my daily driver/primary car. It's the standard 12,000 miles a year policy.

I have a set of winter tires for it, thankfully pirelli is nice enough to make a 305 wide snow tire

 

[sloh]

I actually have none - they know it's my daily driver/primary car. It's the standard 12,000 miles a year policy.

I have a set of winter tires for it, thankfully pirelli is nice enough to make a 305 wide snow tire

Been with all state for years and was asking my friend (he owns a gt3rs and previously owned a r8) who is very into super cars what insurance he uses since I think I might be getting jipped. He recommended State Farm as well

 

[sloh]

My friend just bought a brand new one for close to 200k

You sure it was a 911 turbo s? Brand new 911 turbo s are around 300k right now

 

[thumbz]

Ok since there are more car people here than I realized, give me your wild guess/educated opinion:

I'm strongly considering getting a Murcielago or an Aventador instead of the 720s figuring I could drive it for a year or two with minimal depreciation and then trade it in for a 720s. Thoughts on this? Would be looking for a 2013-15 aventador with 15,000+ miles or a murci in a similar mileage range so I could put 3000-5000 miles on it without drastically changing the mileage based depreciation.

Essentially I'm trying to guess what the exotic used car market is gonna do under Trump

 

[sloh]

Ok since there are more car people here than I realized, give me your wild guess/educated opinion:

I'm strongly considering getting a Murcielago or an Aventador instead of the 720s figuring I could drive it for a year or two with minimal depreciation and then trade it in for a 720s. Thoughts on this? Would be looking for a 2013-15 aventador with 15,000+ miles or a murci in a similar mileage range so I could put 3000-5000 miles on it without drastically changing the mileage based depreciation.

Essentially I'm trying to guess what the exotic used car market is gonna do under Trump

Much better than racking up miles on these cars and dealing with the maintenance issues after, not just from a money standpoint but from a time standpoint.

 

[Splenda88]

You sure it was a 911 turbo s? Brand new 911 turbo s are around 300k right now

I know it's a 911 but not sure it was a turbo.

 

[Neopolymath]

I actually have none - they know it's my daily driver/primary car. It's the standard 12,000 miles a year policy.

I have a set of winter tires for it, thankfully pirelli is nice enough to make a 305 wide snow tire

That's good to hear. I have always driven my expensive cars not stared at them in the garage. It used to be hard to avoid mileage restrictions. Glad to see another person *using* and hopefully tracking the cars

 

[Neopolymath]

Ok since there are more car people here than I realized, give me your wild guess/educated opinion:

I'm strongly considering getting a Murcielago or an Aventador instead of the 720s figuring I could drive it for a year or two with minimal depreciation and then trade it in for a 720s. Thoughts on this? Would be looking for a 2013-15 aventador with 15,000+ miles or a murci in a similar mileage range so I could put 3000-5000 miles on it without drastically changing the mileage based depreciation.

Essentially I'm trying to guess what the exotic used car market is gonna do under Trump

Easier to unload Lamborghini right now IME. Bigger buyers market than many exotics so I think it's safe personally.

Your decision point is based on risk of damage in your ownership and risk of significant maintenance costs. The real hinge point is based on if you care if you sell the car for 10k less as a worst case type scenario? Personally I could not care less so I had no issue with short term expensive asset ownership such as car or boat.

 

[thumbz]

Easier to unload Lamborghini right now IME. Bigger buyers market than many exotics so I think it's safe personally.

Your decision point is based on risk of damage in your ownership and risk of significant maintenance costs. The real hinge point is based on if you care if you sell the car for 10k less as a worst case type scenario? Personally I could not care less so I had no issue with short term expensive asset ownership such as car or boat.

Totally with you, I'm totally comfortable to take $10-$20k per year in depreciation as for me this is my hobby - I don't do anything else so rather than taking a $5000 ski trip a few times a year or a $20k first class tour around Europe I just do cars.

 

[sloh]

Totally with you, I'm totally comfortable to take $10-$20k per year in depreciation as for me this is my hobby - I don't do anything else so rather than taking a $5000 ski trip a few times a year or a $20k first class tour around Europe I just do cars.

Think of owning one of these exotic cars as an experience daily hehe

 

[Neopolymath]

Think of owning one of these exotic cars as an experience daily hehe

This is why I roll my eyes at people who think getting drunk in Thailand counts but driving and exotic frequently does not. It absolutely is an experience and if you are saving 20% or whatever no one should be gatekeeping the rest of your expenses.

 

[Nocturnist]

Think of owning one of these exotic cars as an experience daily hehe

This is why I roll my eyes at people who think getting drunk in Thailand counts but driving and exotic frequently does not. It absolutely is an experience and if you are saving 20% or whatever no one should be gatekeeping the rest of your expenses.

This.

I daily drive my car, and each time I park I look back and stare at it until it's out of view. Not to mention rarely a day goes by a couple people don't turn their heads or tell me they like my car.
If it provides you with a daily dose of dopamine, it's worth it.

 

[sloh]

This.

I daily drive my car, and each time I park I look back and stare at it until it's out of view. Not to mention rarely a day goes by a couple people don't turn their heads or tell me they like my car.
If it provides you with a daily dose of dopamine, it's worth it.

Yup I think of owning a really nice car like owning an instrument or luxury gym membership you love. It brings sparks of joy every day if you use it and enjoy it. For some reason, the discussion around exotic/nice cars comes with this moral negativity. Most of my buddies who own exotic cars are actually cool and nice people. They are very productive and efficient though which is likely why they make as much money as they do. So they may not want to spend much time entertaining trivial complaints from other people, which gets interpreted as them being arrogant or something. Oh well

People always say the excitement wanes after the first couple months or so. 4 years later…still waiting. I’m not against traveling and enjoy it at times but those are limited time experiences and all you’re left with is memories; plus the jet lag, travelers constipation, trouble sleeping in new environments, and a big gut if you ate too much on your vacation. I don’t get much joy from distant memories. Make sure you capture that perfect pic for instagram while traveling though!!! Even though you did very little to no research in order to actually appreciate the destination you’ve traveled to lol. To each their own though.

 

[thumbz]

Yup I think of owning a really nice car like owning an instrument or luxury gym membership you love. It brings sparks of joy every day if you use it and enjoy it. For some reason, the discussion around exotic/nice cars comes with this moral negativity. Most of my buddies who own exotic cars are actually cool and nice people. They are very productive and efficient though which is likely why they make as much money as they do. So they may not want to spend much time entertaining trivial complaints from other people, which gets interpreted as them being arrogant or something. Oh well

People always say the excitement wanes after the first couple months or so. 4 years later…still waiting. I’m not against traveling and enjoy it at times but those are limited time experiences and all you’re left with is memories; plus the jet lag, travelers constipation, trouble sleeping in new environments, and a big gut if you ate too much on your vacation. I don’t get much joy from distant memories. Make sure you capture that perfect pic for instagram while traveling though!!! Even though you did very little to no research in order to actually appreciate the destination you’ve traveled to lol. To each their own though.

So glad this is a universal experience haha

Tbh daily driving an exotic is so worth it. My "other car" is literally a 2002 Nissan Xterra that I bought off a high school kid for $2000 and have kept running with sheer hope. I can throw the dogs or 5 gallons of paint in it and not care at all. For road trips I rent a car - I pay less in rental car fees each year than I would spend on insurance alone on something like a Porsche Macan.

Once you factor in all cars depreciating you realize the actual net loss of driving your Huracan every day instead of a Mercedes is so worth it

 

[Splenda88]

You sure it was a 911 turbo s? Brand new 911 turbo s are around 300k right now

Just spoke with my friend; it's 911 GTS

 

[Monocles]

I'm guessing all you fancy car guys don't live in Massachusetts where people drive like dogsh-te. 😉

After years in Boston my dream car is now a battle bunker with train horns, reinforced bumpers, 4-way dashcams, and previous scars to show that I mean business.

 

[finalpsychyear]

I might buy that ps5 pro after all after a good run here. Keep in mind ive played the ps3 and ps4 pros less than 3-4x each so it drive my wife crazy on why i keep buying.

Im glad i dont have fancy taste in cars. I think my suv does 0-60 in 2.5 or something so thats not bad.

 

[Monocles]

I might buy that ps5 pro after all after a good run here. Keep in mind ive played the ps3 and ps4 pros less than 3-4x each so it drive my wife crazy on why i keep buying.

Im glad i dont have fancy taste in cars. I think my suv does 0-60 in 2.5 or something so thats not bad.

Why not just get the regular PS5 disc edition? It's like $425 at Target for BF ($250 cheaper than pro, or $330 if you account for needing a disc drive)

Unless you are running benchmarks or staring at individual pixels, I doubt you'll notice the huge difference.

Here's some propaganda to dissuade you. 😉

 

[Entadus]

GROSS INCOME: $300K

TAXES (~25%): $75K

EXPENSES: TOTAL ~$125K
RENT: $40K
UTILITIES: $5K
INSURANCE: $6K (Life, disability, health, car)
CARS: $12K
CHILDCARE: $12K
GROCERIES: $12K
RESTAURANTS: $7K
TECH, TRAVEL, ENTERTAINMENT, CLOTHES: $16K
GIFTS/CHARITY: $4K
MISC: ~11K
TOTAL ~$125K
--------------------------------
Able to save around $100K per year between retirement accounts, 529, and taxable brokerage

Notes:
-this is after >2 years out of fellowship, net worth $0.5MM
-no mortgage, still renting due to VHCOL. Hopefully will be able to buy some day.
-no student loans; they are already paid. The 529 plan is for wife's future grad school and/or kid(s)' future college.
-1 small car note but paying it off more quickly; typically do not carry car loans. 2nd car is paid off.

 

[hoot504]

Darn I missed the car talk. I have a GT3 that literally gives me the tingles every time I turn the ignition. I think if it's an experience you value and you can do it without compromising elsewhere, a high performance car can absolutely be worth the price of admission.

 

[Splenda88]

GROSS INCOME: $300K

TAXES (~25%): $75K

EXPENSES: TOTAL ~$125K
RENT: $40K
UTILITIES: $5K
INSURANCE: $6K (Life, disability, health, car)
CARS: $12K
CHILDCARE: $12K
GROCERIES: $12K
RESTAURANTS: $7K
TECH, TRAVEL, ENTERTAINMENT, CLOTHES: $16K
GIFTS/CHARITY: $4K
MISC: ~11K
TOTAL ~$125K
--------------------------------
Able to save around $100K per year between retirement accounts, 529, and taxable brokerage

Notes:
-this is after >2 years out of fellowship, net worth $0.5MM
-no mortgage, still renting due to VHCOL. Hopefully will be able to buy some day.
-no student loans; they are already paid. The 529 plan is for wife's future grad school and/or kid(s)' future college.
-1 small car note but paying it off more quickly; typically do not carry car loans. 2nd car is paid off.

That is a remarkable net worth after 2 years out of training only. Saving/investing 100k on a 300k salary is also good. I save about that much but on a 400-450k salary. I guess I am doing something wrong.

 

[Entadus]

That is a remarkable net worth after 2 years out of training only. Saving/investing 100k on a 300k salary is also good. I save about that much but on a 400-450k salary. I guess I am doing something wrong.

Thanks! Lots of discipline. Tesla and BTC are up big. Net worth is past $550k since I posted, hah. 😉

 

[thumbz]

GROSS INCOME: $300K

TAXES (~25%): $75K

EXPENSES: TOTAL ~$125K
RENT: $40K
UTILITIES: $5K
INSURANCE: $6K (Life, disability, health, car)
CARS: $12K
CHILDCARE: $12K
GROCERIES: $12K
RESTAURANTS: $7K
TECH, TRAVEL, ENTERTAINMENT, CLOTHES: $16K
GIFTS/CHARITY: $4K
MISC: ~11K
TOTAL ~$125K
--------------------------------
Able to save around $100K per year between retirement accounts, 529, and taxable brokerage

Notes:
-this is after >2 years out of fellowship, net worth $0.5MM
-no mortgage, still renting due to VHCOL. Hopefully will be able to buy some day.
-no student loans; they are already paid. The 529 plan is for wife's future grad school and/or kid(s)' future college.
-1 small car note but paying it off more quickly; typically do not carry car loans. 2nd car is paid off.

I am SO jealous of your taxes. This year I'm going to end up being 34% state/federal and around 4% medicare/SS.

 

[stillpremed]

Just hit 4M net worth today, up around 500k on the year.
8 years out of residency, substantially younger than 40.

1.2M in retirement
800k in brokerage
300k in cash
1.2M equity in primary home
500k equity in vacation home.

Nw up 100k just this week since the election.

Gangsta in a white coat! Congrats!

 

[Splenda88]

That is low.

Are You In The Top 3% Of Retirees? Here's The Shockingly Low Amount You Need Saved To Rank Among The Richest

https://finance.yahoo.com/news/top-3-retirees-heres-shockingly-203017202.html

 

[stillpremed]

That is low.

Are You In The Top 3% Of Retirees? Here's The Shockingly Low Amount You Need Saved To Rank Among The Richest

https://finance.yahoo.com/news/top-3-retirees-heres-shockingly-203017202.html

15M to retire comfortably

 

[HopelessMS]

As a resident, I save about 60% of my salary and put that towards my investments.

I have used capital gains from my investments since intern year to pay off about 40% of my students loans thus far. My goal is to pay off my medical school loans by the end of 2025 while still in residency.

I plan to continue renting upon graduation and signing my first contract. I will continue to use my 20+ year old car until it hits at least 300k miles. It is currently at 170k miles. 500k miles is a possibility as it is a Toyota.

I plan to save roughly about 60-70% of my attending salary and plough it into my investments. I don't plan to purchase a house at the place of my first contract but if a good opportunity presents itself...

My goal is to have between $5-10 million net worth by the time I retire along with a house just off the west coast that is free and clear. And to continue to make passive income through my investments and to go fishing whenever and travel wherever I choose to...

 

[Splenda88]

As a resident, I save about 60% of my salary and put that towards my investments.

I have used capital gains from my investments since intern year to pay off about 40% of my students loans thus far. My goal is to pay off my medical school loans by the end of 2025 while still in residency.

I plan to continue renting upon graduation and signing my first contract. I will continue to use my 20+ year old car until it hits at least 300k miles. It is currently at 170k miles. 500k miles is a possibility as it is a Toyota.

I plan to save roughly about 60-70% of my attending salary and plough it into my investments. I don't plan to purchase a house at the place of my first contract but if a good opportunity presents itself...

My goal is to have between $5-10 million net worth by the time I retire along with a house just off the west coast that is free and clear. And to continue to make passive income through my investments and to go fishing whenever and travel wherever I choose to...

You might be able to retire in your mid 40s with such aggressive saving/investing.

 

[Splenda88]

To hit 5m in todays purchasing power they would need to invest 200k per year for 15 years and get 7% inflation adjusted growth so basically would need a repeat of s and p 500 from 2010 to current or invest more. Sounds like they r motivated enuf to pull it off. No idea what specialty they r that could make it a touch easier and more lifestule friendly for them

Even as a PCP, 60-70% saving/investing should be ~150k+.

I am only saving/investing 25%+ of my gross. Even ~35% would be a dream for me.

@HopelessMS will be financially set in 10+ post if he is able to save that much

 

[HopelessMS]

Obviously past performance is not indicative of future performance, but I do invest a lot of my resident salary. For year 2024, I cleared over 100K in capital gains which I have plowed into reducing my student loans. Virtually every year that I have invested since MS3, I have doubled my capital gains. Except 2024 saw me triple my capital gains from 2023. I plan/want to pay off my remaining students loans in 2025.

I expect with an attending salary, I will be able to save and invest more with the hopes of achieving my financial goals by retirement. I don't like to buy "stuff." I like to run my stuff e.g. car or laptop etc into the ground before replacing. Peace of mind e.g. emergency replacement of an alternator, car radiator, or tires is what I prefer over the newest automobile. In fact when/if my Toyota can no longer get me from A to B, I will likely replace with a used car.

The following are my ROI in the past 3 years (Etrade only allows up to 3 years of performance data)

3yr
Indiv. performance 61.75% vs S&P 24.68%, NasDaQ 25.42%, DOW 17.60%
2Yr
Indiv. performance 111.87% vs S&P 54.77%, NasDaQ 87.47%, DOW 28.92%
1Yr
Indiv. performance 74.70% vs S&P 24.58%, NasDaQ 30.71%, DOW 13.38%
6mo
Indiv. performance 48.42% vs S&P 8.83%, NasDaQ 10.65%, DOW 9.24%
3mo
Indiv. performance 35.54% vs S&P 4.25%, NasDaQ 9.51%, DOW 1.72%

 

[eyeeye_captain]

I am only saving/investing 25%+ of my gross. Even ~35% would be a dream for me.

Really hope you can get to that 35% so you can get closer to the finish line. You’re still putting away 6 figures, that’s solid. Keep on stacking.

I’m around 85% of my net.

It shows how you can get to FIRE (hopefully) in different ways. You’ve got hospitalists potentially sprinting out of the gate while I was finishing 3 extra years of training, then 2.5 years more or less making hospitalist money, followed by another couple years aggressively paying off a soul-crushing practice loan, effectively not even making hospitalist money. Then the floodgates opened. I wasn’t cruising until like PGY-11, but that was when I was able to start catching up to your compound interest.

 

[Monocles]

As a resident, I save about 60% of my salary and put that towards my investments.

I plan to save roughly about 60-70% of my attending salary and plough it into my investments.

Your retirement savings are going to shoot through the moon at this rate. 60% SR as a resident is pretty ****ing amazing. I was hardcore FIRE and still only managed to average maybe 33% SR during training, with the exception of hitting 50% months during 2020 (pandemic lockdown + stimmy checks which immediately went into VTSAX).

I think your goals of 60-70% SR as an attending is going to be a breeze for you personally. I am in my 4th year and have averaged ~70% SR thus far and don't feel deprived at all!