Today’s interviewee has the $5M by 55, achieved using at least two of the five ways, but hasn’t retired just yet, even though there’s no shortage of post-retirement plans.
Having gotten lousy advice from potential wealth managers, this doctor has been self-managing the portfolio, but as you’ll see below, has many questions. I hope we can help with at least a few of them!
If you’re interested in participating in one of three interview series, please download the most appropriate form for your life situation: FIRE Starter, FIRE Crossroads, or Post-FI Notes. To see other posts in the series, visit our Q&A archive.
My current monthly expenses are about $6,000 (annual ~ $72,000), which includes my charitable giving.
You’re financially independent. About how much does your household spend in a typical year?
Yes, I am still working in a low-paying pediatric subspecialty in the academic setting. It took me 24 years (1997-2021) to get from $0 to $ 5 million (dropped to about $ 4.4 million in the current bear market) – basically, I’ve been living like a resident this entire time and not competing with the Joneses.
I was eligible for an HSA for the first time when I started this job in 2019, but was not sure if I had a high deductible health plan option, so I missed signing up for it, but signed up for 2020.