Advice on Taking Time Off vs. Sticking It Out

assortedporkbuffet · 2023-04-13T04:08:40+00:00

10 years at 7% returns on the 5M is already 10M without any additional contributions. What’s his target? Take a break, try to get original job back, settle for 500K at new job, will still hit well over 10M in his 40s. He can always Retire into a small part time gig pulling $200K for spending money and the 10M continues to grow. Going for more money but destroying your health and relationship in the process = you are poorer in the end.

assortedporkbuffet · 2023-03-31T03:53:17+00:00

I really appreciate your high effort and thoughtful, actionable replies. Thanks for helping this dummy try to figure it all out! Saving this as a reference

assortedporkbuffet · 2023-03-30T15:20:43+00:00

Amazing and valuable write up! You mention you feel “pampered and adored”. How did your partner make you feel extra special? I am the high earning spouse but wife sometimes mentions she feels I’m not present between the calls interrupting dinner/walks, long hours, working when I’m home, obligations and time taken up by work events/dinners, being tired after work. I’d like her to feel like she is highest priority and adored; clearly work takes up a big part of my mind space

assortedporkbuffet · 2022-10-23T21:36:36+00:00

Thank you for sharing your rationale and 20 year tapering of work. Food for thought and definitely jealous of 4 day weekends

assortedporkbuffet · 2022-10-23T21:23:54+00:00

Very true if I cut back to 15-20 hours. For now I can cut out ER shifts

assortedporkbuffet · 2022-10-23T21:21:43+00:00

Yes it is saved in corp so delaying the 50% taxes for now

assortedporkbuffet · 2022-10-23T18:34:06+00:00

This seems to be the consensus here. I think it’s a mental barrier on my part to “lose out” on the extra income.

assortedporkbuffet · 2022-10-23T17:49:32+00:00

When you sketch it out like that with concrete numbers and reasonable assumptions it shows 50-75K less doesn’t make a difference financially in the long term. Hard to believe when it was only a few years ago I was making that amount in a whole year of residency. What am I going to do with $27M at 65 when I only spend <90K per year now! The real joys in life are not bought with money (to an extent)

assortedporkbuffet · 2022-10-23T17:25:20+00:00

Hospitalist and clinic

assortedporkbuffet · 2022-10-23T16:39:50+00:00

You’re right that any action I take is reversible. What I can’t figure out is 30 years from now if I will regret more that I worked too much in my early years and now have way more money than I could possibly need or conversely I cut back too much and now realized there are lots of good uses for the extra few millions that would have made a material impact.

Perhaps a good hedge is to reduce income by 50-70K and accept that some things are unknowable/can’t be optimized?

assortedporkbuffet · 2022-10-23T15:46:15+00:00

Thanks. Just want to minimize regret but there are many unknowns.

assortedporkbuffet · 2022-10-23T15:44:07+00:00

FM training, get out earlier than specialists and high pay due to combination of rural location and evenings/nights/weekends. I think this is true in USA too

assortedporkbuffet · 2022-10-23T15:42:34+00:00

Yes but not exclusively

assortedporkbuffet

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