FIRE'd from Medicine @ age 43!

[hyperalgesia]

I will never forget this from my medical school mentor: "Everything in medicine eventually becomes boring. Once it becomes boring, all you're left with is the lifestyle."

I heard the same exact thing in med school.

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[deleted993114]

It's incredible that accumulating $15 million was once possible in a career in pain. I know other "1st wave" pain docs that hit that mark who weren't even the best or brightest of their time. I feel angry, resentful, and sad that our forefathers sold out younger generations. I covet the opportunity to have been born just 20 years sooner...

Don’t worry- you will be fine when you reach retirement!

Young docs worry too much. Just don’t get divorced, don’t buy a huge house, and keep your cars and trips within reason. You will be fine!

PS- I didn’t sell anybody out. When pain became “popular” in the late 90s, I warned many of the greedy ones about over utilization. It fell on deaf ears. People went crazy with procedures. You had guys at ISIS meetings who had never seen a c-arm becoming weekend experts on any given procedure, then going home and doing them on humans.

All the pre-auths, denials, etc are a result of procedure crazy guys with doing an rf on anything that walks and engaging in the “drugs for procedures” plan.

I had a practice with four neurosurgeons for whom I did all the pain. Them days are not gone, but damn near.

Who cares? If you like what you do, you have half the battle won. Just don’t forget to take vacations along the way!

PPS- I will give you all my money (let me keep my farms) if you give me 20 years back and your health!!!

 

[deleted993114]

Ummm...... look at historical returns for the market 7% is easily doable especially over 30yr

I can't explain why you don't have more in savings if you earned as much as you say you did....sounds like maybe some bad decisions on your part

I think I did okay. I am still working, as I need the health insurance (can’t get a policy) and still want to work. Don’t count other people’s money- it will drive you nuts. All that matters is how you are doing and I’m sure you will be fine by retirement.

No divorces here, no mansions, and I love my ten year old pickup.

Everybody makes investment mistakes- everyone. You are best off in low expense ratio index funds. That and real estate- land where you can be patient.

When people talk about the “killings” they made on individual stocks, they forget to tell you about the ones where they got their asses kicked.

I bought a whole bunch of Lucent and a whole bunch of Apple (when it was about $6 a share and Microsoft had to bail them out. The Apple has gone up like 50 fold, but I hung on to Lucent and watched a million bucks turn to zero.

So........ ask people for their failures when they report successes to you. It’s like the guys at meetings who everything works great in their hands and they have never had a complication.

 

[Baron Samedi]

The whole "medicine as a calling" thing got beat into us so much during training that I think it has, unfortunately, lost its meaning.

I enjoy treating patients and feel like I am helping improve their quality of life, but I would rather be on vacation!

 

[Baron Samedi]

On an investment note, I have made one individual stock purchase in my life and that resulted in a loss of $200 during Snapchat's IPO. It's a petty loss but enough to teach me an important lesson -- I am not as smart as I think I am!

From then on it's been nothing but TSP c/s/i funds, VTSAX, VTIAX, and some bond indices.

In regards to real estate, if you want to get into that market but don't want to invest and manage individual properties -- consider a REIT fund. The only thing is that they are tax inefficient, so may consider using them in tax advantaged accounts such as 401k equivalent, IRA, and 529.

I am patient awaiting Impossible Foods to go public so I can repeat my past mistakes.

 

[Ducttape]

I prefer the Beyond burger. imo better than Impossible burger.

Amys Vege burger is okay if you go in looking for a non-meat tasting burger. Lighthouse burger I equated to being equal to Impossible burger, which can leave something of an aftertaste....

 

[deleted993114]

On an investment note, I have made one individual stock purchase in my life and that resulted in a loss of $200 during Snapchat's IPO. It's a petty loss but enough to teach me an important lesson -- I am not as smart as I think I am!

From then on it's been nothing but TSP c/s/i funds, VTSAX, VTIAX, and some bond indices.

In regards to real estate, if you want to get into that market but don't want to invest and manage individual properties -- consider a REIT fund. The only thing is that they are tax inefficient, so may consider using them in tax advantaged accounts such as 401k equivalent, IRA, and 529.

I am patient awaiting Impossible Foods to go public so I can repeat my past mistakes.

Yep- individual stocks are for “fun money”.

Let’s face it - we are doctors and can’t beat the market. It’s good to know what we don’t know. Stick with index funds.

Regarding REITs, you have no control over what they are buying and you just have a piece of paper. When you own the land, you will always have the land. I was on ny farm for the last few days getting things ready for winter. Very peaceful. The crop land pays well also.

It’s kind of like gold too. I have gold eagles in my “mad max” stash, instead of a fund.

You guys will do fine and need to stop worrying. Just add a little bit every month, don’t go crazy with spending, and you will be fine.

 

[Splenda88]

Good for you. The military is a good deal.

I have not had any debt since age 37. So everything beyond spending goes into savings.

However, I paid for all my kids schooling, including one grad school and one med school, and bought each of the kids a starter home so they start their lives debt free. I grew up poor and didn’t want my kids to do what I had to do.

If you are disciplined and put away money every month, you will be fine.

Docs worry too much about money- 99% will be just fine and they all worry too much.

What! What is your lifestyle like?

 

[clubdeac]

What! What is your lifestyle like?

You apparently missed the part where he made 1.3 million per year for 20 years....

 

[drusso]

You apparently missed the part where he made 1.3 million per year for 20 years....

I was counting on making that kind of money after completing an ACGME-fellowship, etc. Then, someone moved my cheese.

 

[chudat]

lol keep gloating about how much you guys make. I'm sure pseudo science pain medicine isn't targeted by people looking to cut reimbursement.

bunch of people who couldn't score high enough on their uslmes to get into ortho now posting on public forums about how much their getting paid.

 

[Splenda88]

lol keep gloating about how much you guys make. I'm sure pseudo science pain medicine isn't targeted by people looking to cut reimbursement.

bunch of people who couldn't score high enough on their uslmes to get into ortho now posting on public forums about how much their getting paid.

What?

 

[deleted131481]

lol keep gloating about how much you guys make. I'm sure pseudo science pain medicine isn't targeted by people looking to cut reimbursement.

bunch of people who couldn't score high enough on their uslmes to get into ortho now posting on public forums about how much their getting paid.

What?

I'd ignore. Seems he was posting in this year's fellowship match thread. I don't believe the match has happened yet so perhaps a bit bitter interview season did not go well....

 

[Peterluger]

Still kinda funny though

 

[chudat]

I'd ignore. Seems he was posting in this year's fellowship match thread. I don't believe the match has happened yet so perhaps a bit bitter interview season did not go well....

i'm simply stating that it's not to your (pain med in general) best interest to post salary information so publicly especially in today's environment of aggressive reimbursement cuts

 

[ateria radicularis magna]

i'm simply stating that it's not to your (pain med in general) best interest to post salary information so publicly especially in today's environment of aggressive reimbursement cuts

That’s actually not what you stated at all. And it has little to do with what is being discussed here, internet tough boi.

 

[Peterluger]

Either way, what he said was really funny

 

[drusso]

lol keep gloating about how much you guys make. I'm sure pseudo science pain medicine isn't targeted by people looking to cut reimbursement.

bunch of people who couldn't score high enough on their uslmes to get into ortho now posting on public forums about how much their getting paid.

This is idiotic.

 

[epidural man]

Either way, what he said was really funny

It was funny - but also did sting a little (as a pain guy). Then I remembered that orthopods worked really hard in med school - but somehow become very dumb in residency. I, on the other hand, did not work hard at all in med school, but I have continued to get smarter and smarter - and know I'm super brilliant. I'm like Dr House.

 

[Apollyon]

It was funny - but also did sting a little (as a pain guy). Then I remembered that orthopods worked really hard in med school - but somehow become very dumb in residency. I, on the other hand, did not work hard at all in med school, but I have continued to get smarter and smarter - and know I'm super brilliant. I'm like Dr House.

"Ortho - taking the smartest students and making them into the dumbest doctors."