FIRE Crossroads 016: 42 with a $4.2 Million Net Worth

This dual-income, one-physician household could retire right now if they really wanted to, but that would require a significant downgrade in spending and a move away from their $2.1 Million home. However, they’re not inclined to do so, and frankly, they have no need. They’re both in great spots career-wise, and they’re on a trajectory to reach their $7 Million fatFIRE goal before traditional retirement age.

Their early sacrifices included a military physician career that ended only four years ago, after which he saw his income better than triple. I want to thank today’s interviewee for both the insightful peek behind the financial curtain and for his years of military service.

Getting to Know You

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Where are you on your financial independence journey? Have you crossed the halfway point in terms of net worth and/or passive income?

Sometimes I feel, as others have suggested, that the goalposts keep moving.  Until you get closer to reaching “your number,” I feel it will be very hard for me to FIRE with absolute comfort.  Maybe that is the point, but I deeply respect those of you who have taken the leap.

Tell us about your household. How many people and at what ages? Are you supporting anyone outside of your home? Where do you live?

My wife and I are both 42 and have two children, a 6-year old and an 8-year old.  We live in a very affluent suburb of a major city in the South.

We both grew up in low- to middle-class families so we really have no interest in trying to keep up with our neighbors concerning clothes, cars, etc. We chose our area based on the award-winning public schools, quiet surroundings, safety, and proximity to major metropolitan culture and entertainment.

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