Is it possible working 6 months a year and traveling around the world (or living in a foreign country) the rest of the 6 months anesthesia ?

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Magyarzorag

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I think this is possible from a financial perspective. I don't plan on having children, and Idk if I will even get married. At a conservative salary of $300k a year, 6 months will give me $150k. Taking away the 20K I will put in 401k, $3500 HSA contribution, and $13K standard deduction, my taxable income is only $115K, resulting in federal taxes of $22K, or a respectable 15% of income. I will also be paying $8200 in FICA, so after taxes (Federal, Fica, property), my total disposable income should be $105K. I plan on living modestly, probably similar to the lifestyle of an RN making $70K after paying off student loans. I might buy a $150K-$200K house (planning on living in midsized Southern or midwestern city) and rent it out on airbnb the 6 months I'm not home for extra income, and driving a used $7K car that won't lose much in value. I don't plan on having any savings outside my $23000 annual 401k/HSA and my Home, as I plan on retiring at 60 using hopefully the $600K I will have in my 401K, my home values (I may also buy a home abroad), my $2500/month Social Security Check and living in a country much cheaper to live in than the USA.

Will hospitals or practices let me do this. I mainly want to do this to avoid paying high taxes that kill innocent civilians overseas and destroy entire countries. I don't mind paying FICA as that is basically saving for my future. I also don't mind paying property taxes as that at least funds my local schools, roads, and community projects. However, I do mind paying federal taxes to support incompetent politicians, fund endless wars, fund useless military projects and defense departments that won't probably have any use and are a waste of money, fund bailout or subsidies for large corporations, or fund debt/interest that our government carelessly borrowed from and accrued in the past. If I was working the full 12 months, I would have just donated
 
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vector2

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It’s very feasible if you plan on doing 6 months of locums a year. You may need to redo some math as a 1099 though
 
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caligas

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6 months off will make you rusty. Find a gig that’s 2 weeks on - 2 weeks off.
 
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abolt18

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I think this is possible from a financial perspective. I don't plan on having children, and Idk if I will even get married. At a conservative salary of $300k a year, 6 months will give me $150k. Taking away the 20K I will put in 401k, $3500 HSA contribution, and $13K standard deduction, my taxable income is only $115K, resulting in federal taxes of $22K, or a respectable 15% of income. I will also be paying $8200 in FICA, so after taxes (Federal, Fica, property), my total disposable income should be $105K. I plan on living modestly, probably similar to the lifestyle of an RN making $70K after paying off student loans. I might buy a $150K-$200K house (planning on living in midsized Southern or midwestern city) and rent it out on airbnb the 6 months I'm not home for extra income, and driving a used $7K car that won't lose much in value. I don't plan on having any savings outside my $23000 annual 401k/HSA and my Home, as I plan on retiring at 60 using hopefully the $600K I will have in my 401K, my home values (I may also buy a home abroad), my $2500/month Social Security Check and living in a country much cheaper to live in than the USA.

Will hospitals or practices let me do this. I mainly want to do this to avoid paying high taxes that kill innocent civilians overseas and destroy entire countries. I don't mind paying FICA as that is basically saving for my future. I also don't mind paying property taxes as that at least funds my local schools, roads, and community projects. However, I do mind paying federal taxes to support incompetent politicians, fund endless wars, fund useless military projects and defense departments that won't probably have any use and are a waste of money, fund bailout or subsidies for large corporations, or fund debt/interest that our government carelessly borrowed from and accrued in the past. If I was working the full 12 months, I would have just donated
Have you started medical school yet?
 
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sevo00

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know a guy working 8 months a year doing locums in nyc and makes around 400. works hard for those 8 months. The other 4 months of the year he goes to south america and europe and parties it up.
 
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Magyarzorag

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@sevo00

I don't want to make 400 tho. I want to work less so I can make 200 max
 
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abolt18

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IMGASMD

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I don't want to make 400 tho. I want to work less so I can make 200 max

You don’t even have eggs yet, you’re counting your chicken.......

1. Start med school
2. Do avg
3. Step 1
4. Get into anesthesia residency
5. Profit.

Where are you in this process? That’s what I thought.
 
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JustOnePing

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I think this is possible from a financial perspective. I don't plan on having children, and Idk if I will even get married. At a conservative salary of $300k a year, 6 months will give me $150k. Taking away the 20K I will put in 401k, $3500 HSA contribution, and $13K standard deduction, my taxable income is only $115K, resulting in federal taxes of $22K, or a respectable 15% of income. I will also be paying $8200 in FICA, so after taxes (Federal, Fica, property), my total disposable income should be $105K. I plan on living modestly, probably similar to the lifestyle of an RN making $70K after paying off student loans. I might buy a $150K-$200K house (planning on living in midsized Southern or midwestern city) and rent it out on airbnb the 6 months I'm not home for extra income, and driving a used $7K car that won't lose much in value. I don't plan on having any savings outside my $23000 annual 401k/HSA and my Home, as I plan on retiring at 60 using hopefully the $600K I will have in my 401K, my home values (I may also buy a home abroad), my $2500/month Social Security Check and living in a country much cheaper to live in than the USA.

Will hospitals or practices let me do this. I mainly want to do this to avoid paying high taxes that kill innocent civilians overseas and destroy entire countries. I don't mind paying FICA as that is basically saving for my future. I also don't mind paying property taxes as that at least funds my local schools, roads, and community projects. However, I do mind paying federal taxes to support incompetent politicians, fund endless wars, fund useless military projects and defense departments that won't probably have any use and are a waste of money, fund bailout or subsidies for large corporations, or fund debt/interest that our government carelessly borrowed from and accrued in the past. If I was working the full 12 months, I would have just donated

FM, IM, or Psych lends themselves better to what you're trying to do because you could do Telemed overseas (using a VPN) and still support yourself as long as you have LTE or broadband access.

This doc blogs about doing it: Location Independent Physician Income in Santiago de Compostela, Spain | Sustainable Medicine
 
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Mman

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@sevo00

I don't want to make 400 tho. I want to work less so I can make 200 max

1) very tough to find a regular job that will just let you disappear for 6 months at a time. They have things like call schedules to cover and that makes it inconvenient on everyone else. Much better chance just arranging locums gigs. But honestly you should not do locums until you have enough experience. You can end up in some bad places in locums jobs and you need to have the experience to know what is normal and what isn't.

2) is there a reason why 200K is the most you want to make? I assume you are saying you just don't need to make any more than that but there is nothing magical that happens to your taxes when you go from 199K to 201K.

3) you claim to want to live cheaply and work half time so that you don't pay as much taxes. Ever consider just working full time and retiring 10-15 years earlier?
 

Magyarzorag

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Its cause the tax rate jumps from 24% to 32% at $157500. Also, after $200K, there is an additional 1% Medicare tax. Add in an IRA contribution of about $20K/year, HSA of $3k/year, and the standard deduction of $13K and I can probably avoid the 32% tax bracket by keeping income at $200k. Also, if I do the income based repayment plan, this will lower my payments
 

abolt18

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Its cause the tax rate jumps from 24% to 32% at $157500. Also, after $200K, there is an additional 1% Medicare tax. Add in an IRA contribution of about $20K/year, HSA of $3k/year, and the standard deduction of $13K and I can probably avoid the 32% tax bracket by keeping income at $200k. Also, if I do the income based repayment plan, this will lower my payments
By the time you finish training taxes will change. Also, just cause you're jumping into the next tax bracket doesn't mean ALL your dollars are taxed at that rate. Only the dollars ABOVE that threshold are taxed at the higher rate. What you're suggesting would be described as letting the tail wag the dog.
 
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nimbus

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Its cause the tax rate jumps from 24% to 32% at $157500. Also, after $200K, there is an additional 1% Medicare tax. Add in an IRA contribution of about $20K/year, HSA of $3k/year, and the standard deduction of $13K and I can probably avoid the 32% tax bracket by keeping income at $200k. Also, if I do the income based repayment plan, this will lower my payments

The tax rate is marginal so if you make 177500, only 20000 is taxed at 32%. The rest is taxed at lower rates. That still leaves an extra 14k in your pocket. I never understood the point of making less so you can be in a lower tax bracket.
 
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