Pharmacist income - $100k with 2% raises over 30 year period = $4,056,808 flows through your pockets (granted you don't get to keep all that money (taxes, expenses, debts, etc) (HENCE: importance to save income)). With after tax rate of return of 4% = $7,446,587 (again, unfortunately you don't get to keep all that).
Let's do a little comparison. Let's save 10% vs 20%...
On the same $100k at 2% raise over 30 years, with a 10% savings rate...=$405,681
Ditto, with a 20% savings rate...=$811,362
Makes sense, just double the money because you doubled rate of return (genius). But, I'll be earning an after tax return on my money. (You're right, so let's do that).
I'm going to save 10% because I think I will get 8% return (after-tax) (good luck) on my money. What's that look like?...=$1,485,233 (ah, hah! That's what I'm talking about!) Ok, awesome, but you paid $13,367,098 to taxes, debts, and other expenses. (Prove it.) Ok, 30% tax=$4,455,699. 25% income to pay debt (student loans, mortgage, business ventures, etc)=$3,713,083. And you want to live a nice life right? So 35% of money to living the dream (Not PB&J's for dinner, nice car, children, etc)=$5,198,316. (Go ahead, add them up and check my math).
Now let's try the 20% savings rate with a 4% (half return but half the risk) ROI...=$1,489,317 (compare with the number above...). AND $5,957,269 goes out the door to taxes, debts, and other expenses (HALF! and NO, I did not reduce the lifestyle by 10% to do that.) Rethinking about taxes (maybe paying taxes today instead of deferring to higher taxes in the future (AKA 401k)), paying 27% to taxes = $2,010,578. Servicing debt properly (consolidating, refinancing, reviewing other options) = $1,489,317. And then 33% to lifestyle (a difference most will not even notice, just becoming more efficient and not wasting money) = $2,547,373 ($85k/year or $7k/month to buying things that make you happy).
So to your 'supersede investments point,' no, Pharmacists income will not replace investments and it shouldn't. There should be a balance, but the return on your ability to earn an income will always be greater than you risking your ASSets with variable rates of return in the marketplace, in hopes they don't crap the bed when you need them most (examples: baby boomers who retired 1999-2001, or people who thought real estate was the bees knees 2007-2009). Investments should COMPLIMENT your Pharmacist income, never replace it.
There is a hierarchy to how successful people manage their cash flow, which is the reason why there is such a big gap in income earners in this country. As a Pharmacist, you will be in the top 15% right out of school, but it's easy to fall right back into the bottom 80%. Don't let that happen. Protect what you have today, and what you will earn in the future, save the right amount (hopefully more than 10% and consistently working towards 25+% as income goes up), pay your debts, bills, other liabilities, and what ever is left over is guilt free spending (blow it all if you choose) because you have already done the right things beforehand. Most people in this country think about it in the reverse order and that's why they end up in trouble.