No loans?

[Ericslv]

1.6 million is a good down payment for a real estate project that you could pass onto a management company and let them run it while you sit and collect them checks.

I personally would never trust my 1.6mil to anyone but myself unless it came with some serious fail safes. I also would never put all my eggs in one basket. www.passiveincomemd.com

---

Members don't see this ad.

 

[Stagg737]

Yeah I read that too.

Their retirement package is very tempting. You get to retire after working 20 years and collect nearly half of your highest salary for life. You and your dependents half health coverage for life. And more.

In return, you give up the potential to make more money and be your own boss. You’ll have to play by the rules and succumb to the scheme.

The VA has a similar set-up but you only have to work 5 years to receive pension benefits (which I think are 40% of gross salary now). Plus from my understanding you can work for them for 5 years, then go do something else for 20 years, then come back and all your built up sick/vacation days are still available. Had an attending who did this (left VA for 12 years and just came back) and she got her 150+ sick/vacation days back and will be getting something like 80k/yr in pension benefits when she does decide to throw in the towel. Downside is you have to work at a VA and make less, but if you're looking for a chill job with solid benefits it's not a bad gig.

 

[VA Hopeful Dr]

The VA has a similar set-up but you only have to work 5 years to receive pension benefits (which I think are 40% of gross salary now). Plus from my understanding you can work for them for 5 years, then go do something else for 20 years, then come back and all your built up sick/vacation days are still available. Had an attending who did this (left VA for 12 years and just came back) and she got her 150+ sick/vacation days back and will be getting something like 80k/yr in pension benefits when she does decide to throw in the towel. Downside is you have to work at a VA and make less, but if you're looking for a chill job with solid benefits it's not a bad gig.

3 years ago it was 1% of final salary per year worked. So you could hit 40% but most folks planned on 30% when doing retirement planning.

 

[Stagg737]

3 years ago it was 1% of final salary per year worked. So you could hit 40% but most folks planned on 30% when doing retirement planning.

Interesting, I know they've gotten worse with their policies. Apparently one of my current attendings is grandfathered into the plans they had in the 80's and will get something like 80% of his final salary when he decides to retire, which is insane. Point is there are solid benefit plans out there if you're willing to make less and be a cog in the machine.

 

[Sardonix]

Posted this in a similar thread. This is an example of an offer, admittedly in Iowa, that shows what you can do if you really want to work and make money as an FM:

400K FPOB Opening in Iowa | 150K+ Loan Forgiveness Package, Exceptional Benefits at Jackson Physician Search

Busy, established primary care practice seeking a BC/BE Family Medicine provider to join a dynamic team of five physicians and three advanced practice providers in Northern Iowa.
• Enjoy a flexible 4.5-day work week and 1:5 shared call for exceptional work/life balance
• $280K salary guarantee with production bonus – established providers earning $390K+, over 90th percentile
• $150K+ student loan forgiveness package available
• Additional perks include generous sign-on bonus, paid relocation, and generous PTO package