Pharmacist Net Worth 2020. Poll!

[quickpic007]

Since there are more posts on money,saving, job loss and the like.
Vote anonymously or rock out with your wallet out and post below.
*HOUSEHOLD NUMBERS PLEASE*

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[mentos]

These numbers don't mean much if you don't take into account how many years people have worked, their spouses salaries, if they have kids, if their parents helped with school etc.

 

[WorthlessOxygen]

Roughly -110k

 

[RxPreceptor]

Just recently got out of the red several years after starting out...no financial help from Mommy and Daddy, handouts, or inheritance. I've been pretty passive/not aggressive in paying off student loans; I'll admit I've never been consumed/motivated by pursuing wealth/don't value wealth nearly as much as other RPhs on this forum. Just the type to sit back and let my bank account grow/too distracted by work and just enjoying the simple things in life (no expensive hobbies, passions, lifestyle preferences, travel goals. etc.)

Hell, actually have been helping family members by loaning them money on the side
*Single/no SO

 

[owlegrad]

Wow I am actually worth a little more than I realized. Sweet!

 

[spacecowgirl]

I would have enjoyed this poll more in January.

 

[Momus]

I would have enjoyed this poll more in January.

What happened in January?

 

[pezdispenser]

1.5M. Debt free so I invest most of my salary in stocks now. After the 1M mark, things really start to snowball and your investments should be making more than an RPh salary. I know I'll eventually get laid off, so this is my pharmacy exit strategy.

 

[wagrxm2000]

Gotta say I'm pretty proud of you guys.

 

[WVUPharm2007]

Painfully close to $500k. But still only in the 250-500k bracket. Womp Womp. #poor.

Not bad considering we only have one income, though.

 

[owlegrad]

Is there a poll I cant see on mobile?

I gave up on the app so I can’t say for sure. You can see it in the mobile browser however (or at least I can).

 

[wagrxm2000]

After looking at this poll, a couple thousand new students just applied for pharmacy school.

 

[WVUPharm2007]

Once I got my student loans paid off, I have been off to the races. I only broke even like 5 years ago.

 

[Momus]

My spouse and I are at 1.2 mill, counting our house (minus mortgage remaining) without that we have around 800k.... maybe I haven't run the numbers recently. This is the first year post fellowship/residency so the amount saved will really increase so we should explode upwards in the next 3 years for sure.

Noted. Need a sugar momma.

 

[AC3_PharmD]

Just got employed post-pgy1 so hopefully out of the red soonish ☺

 

[spacecowgirl]

What happened in January?

Not much. It's what has happened since January.

The bottom will fall out again soon. I'm tempted to pull everything out of stocks and put it into my mattress. Except I'd need a California king then.

But that doesn't help if the dollar crumbles.

 

[Sine Cura]

What is more infantile? Enjoying the decline or expecting things to get better?

One viewpoint is rooted in reality.

Zoomers will know not what a pension- or 401k-fueled "retirement" is

 

[Dred Pirate]

just shy of the magic 7 figures - will be there within 6 months

16 years experience, if it wasn't for ex wife I would be double lol

 

[pezdispenser]

Damm, age ?

Late 30s

 

[johnpharm01]

Priceless

 

[TheBlaah]

Early 30s, 1.1m.

I'm pretty surprised how many people are below -250k...

 

[RxPreceptor]

Early 30s, 1.1m.

I'm pretty surprised how many people are below -250k...

I bet a good amount are from California and/or SOs are also new grad RPh

 

[wagrxm2000]

Early 30s, 1.1m.

I'm pretty surprised how many people are below -250k...

Early 30s like 32?

What did you invest in? That's pretty impressive.

 

[TheBlaah]

Early 30s like 32?

What did you invest in? That's pretty impressive.

31.
I invested in houses back in 2011 after the housing market crash. I started with a couple of cheap condos and it steamrolled from there. While I've sold 3 properties so far, I still have 4 of them which is currently valued ~600k (no mortgage).

While it's nice, it did leave me with less liquidity, so I couldn't invest as much as I perhaps would've liked to during the stock downturn this year. But I'm alright with that.

Edit: I should mention I did get a headstart due to my parents gifting me the money that would have gone towards my undergraduate tuition (I received a scholarship that ended up paying for it completely).

 

[Sugoi Travis]

Nearly $0 net worth after starting with -150k right out of school (3 years ago). I think I'm doing alright.

 

[Splenda88]

1.5M. Debt free so I invest most of my salary in stocks now. After the 1M mark, things really start to snowball and your investments should be making more than an RPh salary. I know I'll eventually get laid off, so this is my pharmacy exit strategy.

You can lay off yourself with that sum .

 

[wagrxm2000]

31.
I invested in houses back in 2011 after the housing market crash. I started with a couple of cheap condos and it steamrolled from there. While I've sold 3 properties so far, I still have 4 of them which is currently valued ~600k (no mortgage).

While it's nice, it did leave me with less liquidity, so I couldn't invest as much as I perhaps would've liked to during the stock downturn this year. But I'm alright with that.

Edit: I should mention I did get a headstart due to my parents gifting me the money that would have gone towards my undergraduate tuition (I received a scholarship that ended up paying for it completely).

You were able to do all that at age 22 while still in school?

Not questioning you just curious how you went about doing it.

 

[mentos]

You were able to do all that at age 22 while still in school?

He said his parents gave him a headstart.

 

[wagrxm2000]

He said his parents gave him a headstart.

I meant the work that goes into renting out homes. Obviously they could have someone do that for them but that cuts into profits.

 

[footfairy]

I'd be close to 750k if I wasn't such a sissy about investing the past couple of months. Actually even higher if I wasn't so conservative about an emergency fund. I'm right around 500k at about 6 years out of school.

 

[TheBlaah]

I meant the work that goes into renting out homes. Obviously they could have someone do that for them but that cuts into profits.

Yeah. I initially started with the condo I lived in by renting out the other rooms to friends. The other condo I had was literally right next door, and I lived in that one for a couple of years too (so I could sell both tax-free). After I started to have 3+ properties, my now-wife helped me with managing them.

I started using property managers after I graduated.

 

[Swishers]

I've kept good records of this since I graduated 5 years ago.

Jan 2016: -120k
Jan 2017: -55k
Jan 2018: 91k
Jan 2019: 84k
Jan 2020: 206k
Now: 360k

No house yet. 90% of my assets are in stocks, retirement accounts, and crypto.

 

[Rybko90]

Damn, I'm poor for a pharmacist . You guys are nuts. Good job.

 

[mentos]

Damn, I'm poor for a pharmacist . You guys are nuts. Good job.

How long have you been working? Remember these are household net worths, so a lot of these are double. Some of these people are in their 40s and 50s. Some live in dirt cheap cost of living areas. Some got lucky from Bitcoin and individual stocks which could have easily gone the other way. Someone already admitted that their parents paid for tuition so that puts them years ahead of everyone else. Lastly, it's an anonymous poll on an anonymous forum so a lot of people probably lie.

 

[mentos]

I've kept good records of this since I graduated 5 years ago.

Jan 2016: -120k
Jan 2017: -55k
Jan 2018: 91k
Jan 2019: 84k
Jan 2020: 206k
Now: 360k

No house yet. 90% of my assets are in stocks, retirement accounts, and crypto.

How did you make 146k from 2017-2018 but lose 7k in the next year? Is that when Bitcoin crashed?

 

[meltyblend]

This prompted me to check out how much I have in my 401k. I'm doing better than I thought.

4 years out. I'm debt free and have saved around 270k. I have more than I initially thought. I suppose now would be a good time buy my first house with rates being at an all time low.

 

[rickyroxy]

1.2M. It includes ~480K home equity. Rest 401K, taxabale, roth, HSA, HYSA. Late 30s. Started with student loan of 50K, Working little more than 11 years for big 3 letter. Got lucky with house, bought just after the crash in 2011. It has appreciated more than 200k. Spouse started working 2 years back but makes 1/4th of my salary.

 

[wagrxm2000]

This prompted me to check out how much I have in my 401k. I'm doing better than I thought.

4 years out. I'm debt free and have saved around 270k. I have more than I initially thought. I suppose now would be a good time buy my first house with rates being at an all time low.

I'm very curious how often people look at their 401k.

I only calculate my net worth once a year at the beginning of the year.

 

[TateThePharmacist]

just shy of the magic 7 figures - will be there within 6 months

16 years experience, if it wasn't for ex wife I would be double lol

That B!+$#!!!

 

[PharmDminus]

I'm very curious how often people look at their 401k.

I only calculate my net worth once a year at the beginning of the year.

i use the Personal Capital app. keeps track of everything

 

[wagrxm2000]

i use the Personal Capital app. keeps track of everything

I've been doing it before all these fancy apps.

 

[Swishers]

How did you make 146k from 2017-2018 but lose 7k in the next year? Is that when Bitcoin crashed?

Yup. I got lucky with crypto in 2017. But then that plus the stock market didn't do so hot in 2018.

 

[Momus]

Not including house equity, stocks+cash just broke past 2M for me. Single. 12 yrs in the work force. I gain roughly 215k in NW average every yr. I used to gain around 180-200k NW/yr working OTs but now I have way less OT, the investment is doing most of the grunt work. I have 2-3 days off every week. Forecasting 3M total NW in 2-4 yrs, it depends on where the market is going. My advantages are discipline investing, 0 student loan to start, and lower expenses than probably anyone in this board living in San Diego (15k/yr).

Aiming to find a sugar momma like msweph so I can stop working

 

[mentos]

Moral of the story, if you want to be wealthy stay single.

 

[Splenda88]

Not including house equity, stocks+cash just broke past 2M for me. Single. 12 yrs in the work force. I gain roughly 215k in NW average every yr. I used to gain around 180-200k NW/yr working OTs but now I have way less OT, the investment is doing most of the grunt work. I have 2-3 days off every week. Forecasting 3M total NW in 2-4 yrs, it depends on where the market is going. My advantages are discipline investing, 0 student loan to start, and lower expenses than probably anyone in this board living in San Diego (15k/yr).

Aiming to find a sugar momma like msweph so I can stop working

No need to have a sugar momma with that kind of net worth. You can stop working now even if you increase your expenses to 30k/yr...

 

[stevephhs016]

Around 680k NW, started in the negative of 6 figures after graduation in 2009. Really was bad with personal finance and didn't know about 401ks and **** really until 1-2 years after graduation....11 years retail/single. As they say, the hardest is the first 100k

 

[Gombrich12]

I'm very curious how often people look at their 401k.

I only calculate my net worth once a year at the beginning of the year.

I update a spreadsheet once a year. Really no point in worrying about it more than that. As long as I am maxing out my 401k/HSA/Roth IRA anything after that is extra. Though I will admit I updated it early this year after the market had dropped 20% just to see what the number was.

 

[Momus]

Around 680k NW, started in the negative of 6 figures after graduation in 2009. Really was bad with personal finance and didn't know about 401ks and **** really until 1-2 years after graduation....11 years retail/single. As they say, the hardest is the first 100k

I was so proud on my first 100k. I thought I needed 500k then I'll be happy and can cut back on work. But nope... Then, 1M I thought it was hard, then 2M+ came. Now, I really don't have to kill it at work just coasting. The number will come, it's just a matter of time if you live below your means.

 

[Rybko90]

How long have you been working? Remember these are household net worths, so a lot of these are double. Some of these people are in their 40s and 50s. Some live in dirt cheap cost of living areas. Some got lucky from Bitcoin and individual stocks which could have easily gone the other way. Someone already admitted that their parents paid for tuition so that puts them years ahead of everyone else. Lastly, it's an anonymous poll on an anonymous forum so a lot of people probably lie.

Appreciate the intput. Just started working as a full pharmacist in October 2018. 2018 Grad. -80 to about +45. Working my ass off, though. Haven't invested anything yet really, but will sooner rather than later.

 

[mentos]

As DINKs (double income, no kids) we paid down debt and saved a lot. But honestly we've been living paycheck to paycheck since having a child. We max out retirement accounts and have 20-25k emergency savings, and have a bit in taxable brokerage, but after that we spend everything on childcare, diapers, toys, toddler clothes, furniture, 529, life insurance, home improvements, eating out, quality groceries (not organic but not the cheap stuff either) and stuff we don't need. I guess the older we get, the less we care about money.

I recently became obsessed with power tools. I'm not even handy but I like having them. Probably dropped around $2k this year on Ryobi and Ego tools.