Retirement Archives - Physician on FIRE

An Actuary’s Take on Longevity and Early Retirement

longevity feature

Today’s guest comes someone who loves numbers even more than I do. As an actuary, the guy practically bathes in numbers. He also spends a lot of time contemplating heartwarming topics like life expectancy and the factors that alter it. The Actuary on FIRE (clever name!) is not to be confused with actually on fire; but instead is an actuary with a family on the east coast and he’s revving up his game after a recent financially indolent interlude. So, how does an actuary approach early retirement? Death. When life has slipped through your fingers like so many grains […]

The Rollercoaster Ride of Retirement: How to Survive Market Meltdowns

Today’s post is a guest post from The Wall Street Physician, a former Wall Street trader turned physician who blogs on investing topics pertinent to physicians and high income professionals like us. Regular readers of this site should be familiar with the good doctor, as his writings have been featured a number of times in The Sunday Best. His posts have also appeared on KevinMD and The White Coat Investor, and I’m honored to share a post of his here with you today. Let WSP take you through the scenarios, and stick around for my comments at the end! […]

Don’t Retire To Something. Retire On Something.

hobie blue sky

Retire On something. And With something. And From something. And Under something. And Before something. And In something. And For something. If you’ve read any advice related to early or standard retirement, you have encountered the following mantra: “Don’t retire From something. Retire To something.” Retire To Something is great advice and I’m not here to dismiss or disparage it. I could have just as easily written this post with the quote as the title, but where’s the fun in rehashing advice that appears on the pages of hundreds of other articles and forum threads on the subject? So […]

The Ultimate Hedge Against Future Uncertainty

Navy Pier Ride

Dr. Curious was kind enough to submit today’s guest post on a topic that is near and dear to me and my readers. The good doctor is a radiologist married to a pediatrician. They’ve got two young human children and another of the canine variety. He started a blog of his own several months ago to explore his curiosities on life, money, and more in a two-physician household. If you enjoy this post, be sure to check out more thoughtful and curious posts at his site My Curiosity Lab. Dr. Curious, tell us more about this ultimate hedge against future uncertainty. […]

How To Punch Out of Medicine in 10 Years

wakeboard boat powell lake

Today’s Saturday Selection from The White Coat Investor is a guide to moving on from medicine in about as little time as possible. Personally, I didn’t punch out after 10 years, but I did realize I was in a pretty darned good position to do so in my tenth year out of residency. I didn’t follow this plan exactly, but whatever I lost in silly mistakes and departures from the prescription, I made up for with extra work and income. This post originally appeared just over a year ago on The White Coat Investor, and has been updated with some […]

Our Drawdown Plan in Early Retirement

sun valley stream

We know how to become financially independent. We work, we earn, we save. We invest in a simple and sensible fashion. Perhaps we’ve accepted the challenge to live on half. Eventually, we have reached ofleur magic number. We’ve got 25, 30, or 33.33 years worth of anticipated annual expenses for a 4%, 3.33%, or 3% withdrawal rate spread across various tax-deferred, tax-advantaged, and taxable accounts. We are experts in adding to them. But how do we best subtract from them? Today, I’d like to share our drawdown plan in early retirement. Know Your Starting Point at Retirement There […]

What’s Your Part Time Number?

I recently revealed my plan to decrease my workload as a part-timer this fall. I detailed the schedule and the math behind the taxation in a post on this site (So Long, Full Time Employment!) and the news has also circulated amongst my real-life colleagues at work. While I do get my share of quizzical looks due to my relatively young age of 41, I honestly haven’t been on the receiving end of much negative feedback, at least not to my face. More often than not, the response is some combination of “good for you,” and “I wish I could […]

Retired from Medicine at 37: The Finances Behind Her Decision

newborn baby

Today’s article is a guest post from Valerie A. Jones, MD, a way early retiree who left behind a medical career at the ripe young age of 37. To learn why, check out her post at OB Doctor Mom entitled Retired at 37: Breaking Up With a Career in Medicine. To learn about the finances that allowed her to do this, read on. I am a 37-Year Old Retired OB/Gyn Usually, when I tell people I retired from my physician career at age 37, they respond with shock. Some look at me like I am the most foolish person they […]

How to Get to Your Money Before Age 59 1/2

POF 1st Home

Saturday Selection: How to Get to Your Money Before Age 59 1/2 This classic post from Dr. Jim Dahle originally appeared on The White Coat Investor. It is of particular value to the aspiring early retiree. Yes, Virginia, there is a way to get to that retirement money. If you read the fine print on your IRAs, 401Ks, and 403Bs, you’ve probably discovered that the government wants you to use the money for retirement, and also that the government feels that retirement shouldn’t start before age 59 1/2. But what if you want to retire before age 59 1/2? How can […]

Confessions From a Physician Who Failed Early Retirement

May 2017 calendar

Today’s article is a guest post from Douglas Segan, MD JD, a doctor and lawyer who seems to like going to work as much as he did going to school. Dr. Segan is an expert on insurance and asset protection, having written on the topics in numerous guest posts at The White Coat Investor. I am honored that he asked to share a story that fit best on this site — the story of the failed early retiree. Let’s hear it, Dr. Segan, Esquire. I Tried to Retire Early Financial independence is an admirable goal for every physician. I believe […]

Beyond Enough

louvre sculptures

Today’s article is an original guest post from the White Coat Investor. Like the good Dr. Dahle, I have crossed the threshold of having Enough to consider our family financially independent, but I continue to work one more year after another. Read further as he delves into some of the lifestyle and financial considerations for those of us in the extremely fortunate position of having Enough and then some. Beyond Enough Physician on FIRE (the blog, not the person) is all about Financial Independence and Retiring Early. Over the last year or so, I’ve had to grapple with […]

Early Retirement Chose Me

Vieques Plane

Why on earth would someone put themselves through twelve years of education and training for a career of only twelve years? It’s a great question, and one that I had best be prepared to answer again and again. It’s looking more and more likely that I will begin a sabbatical in 2018 or 2019, and my time away from clinical medicine will be extended and perhaps permanent. If I put myself in the position of an outsider looking in at this situation, it doesn’t make a lot of sense. Here’s a guy who saves all this money just so he can quit […]

Should I Take 40 Weeks Off Every Year?

john mulligan dublin

Here’s a job description to consider. Wanted: Anesthesiologist to work extraordinarily family friendly schedule. Work one week a month or three weeks every three months. Call is negotiable, but not required. Salary: $72,000 to $108,000 per year. Well, that sounds like a dream job, now doesn’t it? The salary would be enough to cover our typical expenses, and I’d have a boatload of time off to do all those things I wish I had more time to do. If I were willing to accept the low end of that pay scale, I wouldn’t even have to take call! Where […]

My Retirement Outlook is Rainy? The Problem With Assumptions

Just when I’m starting to feel good about my future, Transamerica rains on my future parade with a lousy e-mail. “Your retirement outlook is… Rainy.” They insert a cute little stormy cloud in case I didn’t get their point the first time. Do these downer e-mails leave me in a state of despair? Of course they don’t. I know something that Transamerica doesn’t. Namely, that the money I’ve got stashed in their accounts represents less than 20% of my retirement assets. The rest is in Roth and taxable accounts with Vanguard. It’s not entirely Transamerica’s fault. After all, I didn’t […]

Who Are the Physicians Who Retire Early?

This little FIRE blog is one of many early retirement blogs, but it’s the only one being written by a physician. If you look around, you’ll find quite a few young men and women who have successfully pulled off an early retirement at age 30 to 35, an age at which most physicians will have a negative net worth. For example: Pete & Simi @ Mr. Money Mustache retired at age 30. Justin @ Rootofgood retired at 33. The Frugalwoods family retired at age 32. Anita @ Power of Thrift retired at 33. Brandon @ Mad Fientist retired at 34. Sam […]

Early Retirement and The Likelihood of Regret

When this blog was first conceived sometime last year, I had a pretty good idea I would be ready and able to retire early at some point. Crunching numbers and considering some family dynamics, I came up with a five to six year plan to retire quite comfortably with a healthy margin of safety. Seven months into this venture, I have done a lot, lot more number crunching, brainstorming, and talking with my wife about our future. The five or six year plan has essentially been cut in half. I’m thinking more in terms of a two and a half […]

50 Ways I’d Like to Spend My Time in Early Retirement

Jamaica Beach Runaway Bay

Time flies when you’re having fun. Or, as Kermit tells us, time’s fun when you’re having flies. Time also flies by when you’re busy. The next few years will be exceptionally busy for me. I’ll be working full time. I’ll be blogging part time. My boys will be in more after school activities. We’re learning Spanish together as a family. The next few years most certainly will fly by. And then I will be retired. As I’ve stated before, I won’t be retiring from clinical medicine to escape a job I dislike. I will retire to free up over 2,000 hours per year […]

Top 5 Reasons I Chose Not to Retire at 39

A year and a half ago, at age 39, I was studying for an exam required to maintain my status as a board-certified anesthesiologist. Most of the study materials were only peripherally related to my actual job, and the practice questions were equally inane. I started wondering if I would have to repeat the process in 10 years. A google search between study sessions quickly opened my eyes to the concepts of Financial Independence and Retiring Early. The FIRE blogging community provided me with a great education, and over the last 6 months has welcomed me graciously as one of […]

Announcing My Retirement

I thought I could do this at least a few more years. In fact, I thought I might be able to handle the abuse another 10 years or more. I trained long and hard to be in this position. I never could have imagined I would be saying this before my 41st birthday. But I have reached The Crossroads. I need to do what’s best for myself and my family. I’ve enjoyed the journey, with all the mud, sweat, and beers, but it’s time to face reality. To quote Danny Glover’s Lethal Weapon character, Roger Murtaugh, “I’m getting too old […]

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