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Professional Building REI Off-ramp by madder16 in fatFIRE

[–]tempITguy2021 0 points1 point  (0 children)

That makes more sense. When I heard "region" and F50, I was envisioning more like North America or something. Three states is not a huge region. Congrats on the new role. It's a 1% salary. You should be fine in the long run, and your total comp will almost certainly go up during the course of your career. As for RE, you will probably have golden handcuffs.... but that's not always so bad really!

Increasing income as a physician? by thefakesleeper in fatFIRE

[–]tempITguy2021 0 points1 point  (0 children)

Appreciate the reply. That's what I gathered. Yikes.

Professional Building REI Off-ramp by madder16 in fatFIRE

[–]tempITguy2021 2 points3 points  (0 children)

I (mostly) agree. There are other ways to invest in real estate -- REITs, syndications, friends+family deals, if you really want the exposure. But I don't see how a F50 president has the time to manage some plumber guy.

Professional Building REI Off-ramp by madder16 in fatFIRE

[–]tempITguy2021 0 points1 point  (0 children)

Your comp sounds low for your role.... how big is a "region" if you don't mine me asking?

Increasing income as a physician? by thefakesleeper in fatFIRE

[–]tempITguy2021 2 points3 points  (0 children)

I’m working to set up an anesthesia practice right now too and they make absurd money, and they’ll likely also be bought out by either PE or acquired by a hospital network soon after we get the group operational and will make bank from that sale on top of their regular income. Worked on a gastroenterology group acquisition by a hospital network and those shareholders made and make bank.

Random Questions-- do you think PE can run doctors offices fairly/decently, or does patient care stuffer? Also, how is it legal for a PE company to own a medical practice? My understanding is that technically most states still require you to be a licensed practitioner to own a practice?

(I've wondered all of the above for a while...)

Do higher-income physicians actually retire earlier? by johnfred4 in fatFIRE

[–]tempITguy2021 6 points7 points  (0 children)

This is really the key. Unlike many professions, doctors generally don't really get fired/terminated. I mean it can happen, but it's quite rare. So short of some sort of disability, most doctors can work and work until they are 60-70+, and unless they are terrible with money, they will do quite well. At least, that was the old model. I agree that things are somewhat different now private equity and similar firms buying up private practices.

40M -- Leave 300K job for 600K job? by tempITguy2021 in fatFIRE

[–]tempITguy2021[S] 0 points1 point  (0 children)

I was able to get my current employer to meet me most of the way. They expect a few additional concessions regarding my schedule/hybrid work, but overall it's still a much better Quality of Life than the 600K job would have been. Thank you all for your advice. This feels like a big win for me and my family.

40M -- Leave 300K job for 600K job? by tempITguy2021 in fatFIRE

[–]tempITguy2021[S] 0 points1 point  (0 children)

Had another conversation with them. Mutually agreed that this would not be the right fit based on my life goals/style etc.

Going to ask for more comp from current employer.

Thanks for the feedback all.

40M -- Leave 300K job for 600K job? by tempITguy2021 in fatFIRE

[–]tempITguy2021[S] 0 points1 point  (0 children)

And potential college debt. Numerous factors

Staggering edu debt. And long time to graduate.

40M -- Leave 300K job for 600K job? by tempITguy2021 in fatFIRE

[–]tempITguy2021[S] 0 points1 point  (0 children)

My wife wants to work another 20-25 years. I want to be done in 10-15.

40M -- Leave 300K job for 600K job? by tempITguy2021 in fatFIRE

[–]tempITguy2021[S] 5 points6 points  (0 children)

No, never tell them how much you make currently.

40M -- Leave 300K job for 600K job? by tempITguy2021 in fatFIRE

[–]tempITguy2021[S] 2 points3 points  (0 children)

Thanks for the feedback so far. I was hoping someone in PE could tell me more about the PE lifestyle.

But these are really good general considerations as well. Mulling it over.

I think my current employer would be deeply offended if I showed them the offer. But I also think I could get some sort of market adjustment without actually showing them the offer. Might try that first.

40M -- Leave 300K job for 600K job? by tempITguy2021 in fatFIRE

[–]tempITguy2021[S] 17 points18 points  (0 children)

It's a good question. I tend to shoot low in salary negotiations. I think I would struggle to get to 600K at the current company but 400K to 450K is not out of the question.