With 25 years of expenses in my portfolio, most of which would be immediately available in early retirement, I could call myself Financially Independent.
To bust one’s butt for 12 years to only work 9 years on my own terms would not seem to be a good return on investment. If you are young, and want to retire by 40, medicine would not be a good choice.
The frequently used goal of 25x expenses to allow for a 4% initial withdrawal rate is proven to be safe based on historical returns for a 30-year retirement.
2. I’d like a bigger cushion that a few more years can provide.
I’ll be more comfortable with 30x to 33x, which I can realistically expect to have within about five years by investing the majority of my take-home pay.
It’s fast-paced, active work and I make people happy. I perform hands-on procedures with cool technology. I generally feel respected. There are certainly aspects of this job that I will miss.