- Joined
- Jul 30, 2002
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- 813
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Ask your EM attendings who are 10 or more years out how close they are to retiring.
9 yrs out of residency, and not even close to close. And that is with a 2 doc salary. My wife and I had total of $400+k med school debt. We live in NoCal/SF Bay area with a mortgage payment that is more than most people's salary. We have 2 kids (I was 40 when my 1st was born) , bills, preschool, etc. It is just staggering how much money goes out every month. Granted, I am saving like crazy now for kids college funds and my SEP-IRA, and did a refi to a 15yr mortgage so I can be able to cut back at 59yo when my mortgage is paid off..
Right now, I do 12-15 eight hour shifts, so my big plan is to keep working this workload until I hit 60, then cut back to 6-8 shifts/mo....That is about the time my kiddos will be ready to start college, so assuming the money has appreciated appropriately, I won't have to work more to put them through college at that age.....
We'll see.......But, in no way am I financially ready to retire in 1 year..