Young Physician Looking for Advice

[mark500]

Hey Jaerco. I was in your situation at your age. I am a physician, aged 48, and had planned to ER at age 46. It is definitely a reachable goal. You gotta save a lot.

I have not ER'd yet even though I could. Have not been able to pull the trigger. May soon though.

I love my specialty, but dislike the practice of medicine. Liability, business politics, call, nights, weekends take their toll.

[jaerco]

Wow. Six years later and I find myself back on the forums. Weird to read what I wrote and see where I am today. So a little update.

Now turning 39 and in similar situation with a few hiccups along the way.

Married in 2008, lasted 6 months, but didn't cost me anything. Thank goodness.

Remarried to a wonderful lady with the same goals as I have. Everything good now.

Lost a lot on my first house and moved in with current wife. But given the real estate market if I'd waited and not dropped the price it would have been much worse.

Two years ago after meeting my current wife I cut back to 14 shifts a month. Then to 12 shifts in 2010 and 10 shifts last year. I learned a hard lesson the first time around. Now focusing on life, my wife and then work. It is nice to already have cut back so much. There has been a group change at our hospital and have agreed to work 12 shifts / month this year, but will be back to 10 next year. I consider myself semi-retired

Still hope to be able to walk away at 50 if I want, but likely work longer since I've already cut back my shifts. (which is helping my sanity greatly) I hope to be to 8 shifts by 45

I have managed to max out my SEP every year and got my wife to max out her 401k as soon as we met.

The after tax savings have not gone so well. I spent way too much on the first wedding, drained the savings shortly after to sell the first house and get the cars paid off.

We are finally getting back on our feet and that is why I was searching around and found the forums again. We have finally started to build up a true emergency fund and then need to figure out how to invest our after tax dollars. Need to refinance our house (wife's house) to a ten year loan. I need to do some more searching around and talking with vanguard and will post some questions soon

jaerco