Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Greetings from the NW (USA)
Old 05-20-2007, 05:24 AM   #1
Confused about dryer sheets
 
Join Date: May 2007
Posts: 2
Greetings from the NW (USA)

Hello all from lovely Oregon!

Great to be here. I'm sure I'm very far away from being done but I'm inspired by the stories.

My main problem has been a lot of education and student loan debt. (down from 170 to 100) fixed at 8%. I'm almost at the point where I can take care of it with a lower interest (and deductible) second mortgage.

My first 5 years out of residency I worked for a large corporate hospital. I had a lowly 401k at Fido I duitifully maxed out. The company contributed to a second retirement that I had to cash out when I left (457f). All in all I was left with 100k for my efforts.

The turning point was starting my own company. I ve seen the saving, but the most beautiful thing I bought was my freedom. I don't work nights, weekends, or see 40 patients a day anymore. I love long bike rides and maintaining my one extravegance (my garden, below). I rediscovered a passion for life that had seemed a drudge before.

This year, my third I discovered a funny thing. Because my company was contributing all the retirement money (avg 3k/mo SEP IRA at Vanguard) I was grossing less but taking home almost 2,000 more!

I have a net worth of 300k and would like to grow that to somewhere around 800. I've lived overseas and enjoy it (a year studying in W. Germany and part of my residency was in an Coronary Care unit in Northern Thailand). I speak the languages of the countries I'm interested in and hope to become fluent wherever I land.

Anyways, I'm rambling. Either too much coffee or not enough. I appreciate all the thoughts here. I'm going to enjoy going through them.
Attached Images
File Type: gif towards-Jaquizzi.gif (59.3 KB, 124 views)
Attached Files
File Type: gif_thumb towards-Jaquizzi.gif_thumb (41.5 KB, 13 views)
Dr. K is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Greetings from the NW (USA)
Old 05-20-2007, 05:39 AM   #2
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
Re: Greetings from the NW (USA)

Welcome to the board, Doc.

8% is a pretty nasty interest rate for a student loan. It might even make sense to pay that off before you save more in your SEP IRA. Or is there some way to have the company wash that debt through its books?
__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Re: Greetings from the NW (USA)
Old 05-20-2007, 11:26 AM   #3
Confused about dryer sheets
 
Join Date: May 2007
Posts: 2
Re: Greetings from the NW (USA)

Quote:
8% is a pretty nasty interest rate for a student loan. It might even make sense to pay that off before you save more in your SEP IRA. Or is there some way to have the company wash that debt through its books?
Consolidation is such a crummy deal. You can't refinance! Terrible deal for students, great deal for banks getting federally guaranteed funds. I asked my accountant regarding the company taking care of it, but he said no. My plan is to refinance my home and pay the loan off when it's at 80k (which I plan to be at w/in the next 12 months).

I think I can drop the interest almost 2 points. Right now I make too much to deduct any interest on my student loan. Changing that would be nice.

My plan over the next five is to pump a ton of money into retirement, both from my company and then after tax.

I am also working on 'partly retiring' and doing locums work in areas I'd like to see. I could literally pay my year's expenses overseas (budget around 30k) and not touch anything.

I have been reading the site and looking at the calculators. The asset allocation is very interesting. Much to learn!


Dr. K is offline   Reply With Quote
Re: Greetings from the NW (USA)
Old 05-20-2007, 04:42 PM   #4
Thinks s/he gets paid by the post
DangerMouse's Avatar
 
Join Date: Jan 2007
Location: Silicon Valley
Posts: 1,812
Re: Greetings from the NW (USA)

Dr K, welcome aboard.

I don't have any words of wisdom for your financial situation. However, I want to compliment you on your beautiful garden. It's always nice to hear when someone else has finally seen the light and realised that living your life is more important than accumulating more "things".
__________________

I be a girl, he's a boy. Think I maybe FIRED since July 08. Mid 40s, no kidlets. Actually am totally clueless as to what is going on with DH.
DangerMouse is offline   Reply With Quote
Old 05-22-2007, 10:50 AM   #5
Recycles dryer sheets
txdakini's Avatar
 
Join Date: Jul 2006
Posts: 60
Beautiful garden. Congratulations on getting a life and keeping it.
__________________
Life is short and getting shorter.
If not now, when?
txdakini is offline   Reply With Quote
Old 05-22-2007, 12:10 PM   #6
Recycles dryer sheets
Deetso's Avatar
 
Join Date: Dec 2006
Posts: 84
Welcome to a fellow Oregonian.

I dig the garden!
Deetso is offline   Reply With Quote
Old 05-22-2007, 12:37 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,108
Welcome from a former Oregonion who intends to return.
Brat is offline   Reply With Quote
Old 05-22-2007, 02:18 PM   #8
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Welcome to the forums.

My years in med school, residency, student loans, and surviving the inflationary early 80s put me in debt which was finally paid off when I was over 40 years old. Just in time to start saving for kids' tuition.

Biggest gaffes by my fellow doctors re: FIRE: over-doing the house and car thing, splurge spending, lack of disciplined saving. Some also under-estimated how much it takes to retire. Finally, some just can't break away (sounds like you've already addressed that one) -- age 70 and still working full time, almost afraid to retire. When they finally do, they are vulnerable to the infirmities of their age group.

I've managed to close the gap and look forward to semi-FIRE soon.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Snip Snip Martha Other topics 127 06-26-2008 07:59 PM
USA: 5% of world population with 50% of global market cap ? Delawaredave FIRE and Money 7 02-06-2007 03:43 PM
USA, USA, USA... mickeyd Other topics 6 12-18-2006 02:53 PM
USA Article on Early Retirement Cattusbabe Other topics 5 07-10-2006 09:16 AM
Daimler to Sell Smart Cars in USA AltaRed Other topics 42 07-05-2006 10:20 PM

» Quick Links

 
All times are GMT -6. The time now is 04:01 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.