Welcome to the third installment from Ether to FI, an anesthesiologist chasing financial independence. He finished residency and started his first job as an attending physician just over six months ago, and he has a goal to hit his FI number of $3.3 Million within a decade.
The floor is yours, E.T.F.
Let’s get philosophical for a minute. Do you have a why?
I want to live in a different part of the world every few months and explore this beautiful planet we call home. I want to solve challenging societal problems. These thoughts were the word salad bouncing in my head when someone asked my reason for pursuing financial independence. Then my son asked a simple question.
Working on a Home Day
“Daddy, why do you have to go to work on a home day?”
Home Day = Toddler speak for the weekend.
This simple question caused me to sit and reflect.
Financial independence = Freedom from the hamster wheel.
Brad and Jonathan from Choose FI define the “hamster wheel” as working all the time to pay for a lifestyle you do not enjoy. My mission is to choose work based on the happiness that I receive from the work, regardless of the paycheck. I appreciate my work now, but it is stressful. I look forward to doing other things once I build my magic, income producing nest egg. Part-time, here I come (Looking at you PoF).
Financial Independence = Happiness.
I am referring to the type of happiness toddlers experience when they laugh from their belly, rolling around on the floor. Happiness best experienced on a Sunday night with your family on a beach in the Caribbean, because Monday does not exist. The type of joy that comes when you stop trading your time for money, and mandatory meetings mean breakfast with your whole family.
True happiness is the absence of clocks, places to be, running at full speed only to repeat the cycle the following day.
Financial Independence = Health.
High blood pressure, stress headaches, body aches and fatigue are all symptoms of a more significant problem. The to-do lists created for one day long enough to be completed over one week.
Then you ask, “why am I so tired?” Compound this with an average night’s sleep of five hours on a good day, and it is very understandable why pharmaceutical companies have such large buildings. Financial independence gives you control of your most important asset, your time. Time allows you to prepare healthy meals, exercise daily, and most importantly, slow down.
Financial Independence = Home Days.
The weekend is defined by Merriam-Webster as the close of one work or school week and the start of the next; especially: Saturday and Sunday. For many people in medicine, this definition is a foreign concept. Hospitals are open 365 days per year. Illness does not recognize Thanksgiving or New Years. It is similar to interest on debt; there are no days off. Therefore, many medical professionals end up blurring their work week with their weekend.
Financial Independence can make any day a “home day.” I will work when it is convenient for my family and me instead of what works best for my employer. It will allow me to prioritize date night, soccer games, choir recitals, and algebra tests. My schedule will mirror my stated priorities.
This more vibrant and fuller life provided by financial independence will allow me to answer the universal question, what do you do?
I am a husband, father, explorer, philanthropist, humanitarian, striving to leave the world better than I found it.
Net Worth Update:
Moving in the right direction. After 5 months of progress, we have made an almost $89k improvement in our net worth. We are excited to try to accelerate our progress in the New Year. The goal of is to make an improvement of $200,000 or more in 2018. Tracking our net worth has provided extra motivation to save and invest.
The Chase Sapphire Preferred is an excellent first (or only) rewards card. $50 annual hotel credit for bookings via the Chase UR tavel portal & 5x points for all travel via the portal. 3x points on dining, 2x on other travel. Flexible rewards good for cash, travel, or transfer to travel partners, great travel protection & new Peloton, Lyft & DoorDash perks! $95 Annual Fee
The Chase Sapphire Reserve offers great travel perks including Priority Pass lounge access, a credit for Global Entry or TSA Pre✓ and a $300 annual travel credit. When using Chase Ultimate Rewards travel portal, get 10x points on hotels and car rental & 5x points on air travel. 3x points on other travel & dining. Elevated Peloton, Lyft and DoorDash benefits. $550 Annual Fee
[PoF: That’s an increase of more than double since E.T.F. finished residency and started working as a full-time attending anesthesiologist about six months ago. Great work! The goal remains $3.3 Million within ten years, and to more than double the net worth again in 2018. Go get ’em, E.T.F.!]
Follow Ether to FI’s progress to FI in his previous posts:
- Post 1: Introducing Ether to FI: A New Attending Striving for Financial Independence. Net worth $80,283
- Post 2: Ether to FI: Obeying WCI’s Ten Commandments & Net Worth Update. Net worth $145,194
- Post 3: Ether to FI: Home Days & Net Worth Update Net worth $176,674
- Post 4: Rest in Peace, E.T.F. A Love Letter from a Dead Man and a Net Worth Update. Net Worth $197,061
- Post 5: Ether to FI: Mrs. E.T.F., Are We on the Same Page? Net Worth $228,109
- Post 6: Ether to FI: Shifting Focus from the “FI” to the “RE” and a Net Worth Update. Net Worth $335,248
- Post 7: Ether to FI: Don’t Call it Retirement (and a Net Worth Update). Net worth $364,089
- Post 8: Ether to FI: Frugal Spouses: The FI Superpower & a Net Worth Update. Net Worth $429,155
- Post 9: Ether to FI: “I hate it. I hate it. I hate it!” Learning from Those You Disagree With & a Net Worth Update. Net worth $489,200
- Post 10: Ether to FI: Waste Not Want Not & a Net Worth Update Net worth $561,532
- Post 11:Ether to FI: Part-Time Work. Full-Time Life! And a Net Worth Update Net Worth $583,566
- Post 12: Ether to FI: Moving Targets & a Net Worth Update Net Worth $718,212
- Post 13: Ether to FI: Embrace the Dip & 2 Net Worth Updates Net Worth $682,028
- Post 14: Ether to FI: Time Waits for No One & a Net Worth Update Net Worth $937,709
- Post 15: Ether to FI: 3 Years to the First Million & a Net Worth Update Net Worth $1,023,261
- Post 16: Ether to FI: Thank You 2020 & a New Worth Update Net Worth $1,269,059
- Post 17: Ether to FI: The Goal is Happiness, Not Perfection & Net Worth Update Net Worth $1,485,440