As a single pharmacist I will be paying somewhere in the range of 30-50% taxes. I think the only way to become truly independent of a full time job is through investments where you can make an unlimited amount at a 15% tax rate. The mental block that I personally have is that it makes no sense to invest until the 401k and Roth IRA are maxed out... that doesn't leave a whole lot left to dump into investments especially when I will have to pay back ~150k in loans further delaying the process. I think I will have to invest very aggressively in terms of both the percentage of my pay and in terms of the investments that I choose in order to make capital gains a significant source of income. This is certainly a goal of mine... investment income can become very significant and offers a huge tax advantage in terms of gains. I can do fine with just a pharmacist income but I am of the mindset of using my income as a means of gaining something bigger.
Living comfortable while paying back loans
- Thread starter salsasunrise123
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