I can retire---and my doctor can't?!?

[macdaddy]

Macdaddy, you may want to check out this link, as well as some previous issues:

http://mdm.ca/md/Strategy/index.asp?url=/content/md/strategy/05/2006/Strat02.asp&language=E

Thanks for that link Meadbh. I would really like to open a boutique financial management company exclusively for physicians, sort of like the one there. Many friends and family who are physicians have invested poorly on bad advice and just plain been ripped off by people who think it won't matter. It makes me mad and some day I'd like to be in a position to do something about it.

 

[sailaway]

Made it back from Pamplona and caught up on this thread.
Ran three days (the last three), great time, great experience.

Sailaway

 

[eridanus]

Well, I don't know what level of income a typical pulmonologist generates, but this guy is 57 and only has $336,000 in financial assets? geeez..................

The good doctor and his wife gave 40,000 to charity, spent 35,000 on home improvement, and saved only 20,000 last year (10% of income). There is also the son's law school and daughter's grad school. Even with 200k/yr, I don't foresee an early retirement for this couple.

A close friend of mine that I've known since high school is making the equivalent salary. He paid off his $100k student loans in 2 years and is now maxing out his savings for ER.

Oh yeah, he drives a used Chevy and lives in an apartment.

A doctor couple I know (both GPs) has only one car, a Civic. They have a nice house with nice furnishings but are definitely practicing LBYM.

 

[cute fuzzy bunny]

Ran three days (the last three), great time, great experience.

Wow...bet you're going to sleep for a week after running three straight days. I can only imagine the blisters!