Today’s interviewee went to a low-cost medical school in India, had a scholarship for a master’s degree, and entered the workforce with savings. The interviewee’s spouse benefitted from similar decisions.
Their circumstances have allowed this family to reach financial independence within the same decade of entering professional practice, and they’re branching out into commercial real estate as well.
Currently, we spend about $100,000 to $120,000 per year, which is about 3% of our net worth. If we adhered strictly to the 4% rule, we could spend about $40,000 more per year.
You’re financially independent. About how much does your household spend in a typical year?
We are a family of four with two kids under six. Both of us are physicians and now practicing. My wife is purely in academia; my practice is a mix of academia and private practice. We’ve been active professionally for five years.
Tell us about your household. How many people and at what ages?
Yes, I have been working fully utilized, and then some, for the last five years, and I plan to continue to do so for five more years at least. I work 365 days a year–that is not an exaggeration, as even on vacations I am always on telecall.