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Financially Adrift

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  • Financially Adrift

    I am wondering if others are in a similar situation... mostly feeling financially adrift in setting of doing well.

    I am several years out of residency with all my student loans paid off and a solo private practice that is going well--low overhead, no employees, and essentially no marginal costs.  I have a good amount in retirement--if anything too much.  I save more money than I spend.  I own a small condo with my partner (who also works) with no plans for kids.  The mortgage rate and payments are so low I feel little reason to pay this off sooner.  We are not cut out to own a house (we appreciate HOA to take care of things).  We travel frequently.  I probably will inherit a decent amount.  I am cutting back on my work hours to less than 40/week.  I like that amount of work and plan to continue doing it.

    I guess, I am moving towards partial retirement (doing only the type of work I want to do at the amount I want), but it feels really odd to be talking about that in my 30's.  Many of my peers seem so driven and overworked, even some who are much older than me.

    Are others in the same situation?  I find this is hard/impossible to talk about with others if they are no in a similar situation.

  • #2
    You seem like a FIRE type. Figure out what you want in life, what will make you happy and go get it. Forget about what others think.
    Helping those who wear the white coat get a fair shake on Wall Street since 2011


    • #3
      Agree entirely with WCI. I'd prioritize figuring out what you want your life to look like when no longer practicing. Do you have the makings of a full and satisfying life were you to move toward not working as an MD?
      My Youtube channel:


      • #4
        I was expecting something different. "Adrift" means lost or aimless to me. You're cruisin'! Congrats.


        • #5
          Maybe I read too much into "adrift," but your tone seems almost sad. You're missing some exclamation points and emoji! 

          Do what works for you. I found myself financially independent at about the time I found out what it meant to be financially independent. I could have stopped working at 39 and most likely maintained my lifestyle indefinitely without fear of running out of money. I'm choosing to continue to work, but like you, am considering cutting back my hours (age 41 now). More about me here.

          There are others with a similar mindset, and many of them hang out here and in the comments section of WCI and my site.




          • #6

            I was expecting something different. “Adrift” means lost or aimless to me. You’re cruisin’! Congrats.
            Click to expand...

            Exactly, I was expecting him to say something about how bad his finances are, but instead every sentence I hear nothing but a "cha-ching" sound!
            Maybe instead of feeling financially adrift you're actually feeling a little emotionally adrift?  Not feeling happy/satisfied with life even though you're clearly rolling in dough?  Its a good problem to have.  Maybe you need an encore career next?  Politics?  Start a business?  Breed chickens in your backyard?  LOL


            • #7

              ...Maybe instead of feeling financially adrift you’re actually feeling a little emotionally adrift?...

              Click to expand...

              I was gonna say the exact thing, verbatim. You're not financially adrift; you're financially killin' it. Find something you like to do. Run marathons? Golf? Travel more? Go to school for something outside of medicine (either just to learn or with a goal in mind - JD, MBA, politics, etc)? Start a business? No matter what, good for you. I hope I'm just reading into the somber tone but if my perception is accurate, I hope you find something that makes you happy.



              EDITED for grammar


              • #8
                WOW!! Congratulations.


                • #9
                  I think adrift in the realm of not professing financially 'saavy' though I do believe you made GREAT decisions on what fits your lifestyle and choices in what appears a concierge/boutique style practice.  I would envision you love your solo practice and probably will go onwards in it if reduced hours is feasible in a solo practice---I does sound like your niche does allow for this.

                  WCI hit it right -- you're a prototypical FIRE and would benefit from Boglehead reading  :

                  Stay the course on what you want to do.  The numbers look like they are moving in the right direction.


                  • #10
                    That's some first world doctor problems right there!

                    Congrats for setting yourself at such a young age to have options and good luck in finding the best set up!


                    • #11
                      The last person who referred to himself as "financially adrift" to me had a FHA 5/1 ARM at 4%, $200K of student loans at 6.8%, just bought a BMW zero-down, $20K in credit card debt > 10%...

                      I think you're adrift in a sea of positivity, if anything.  I want to be adrift on that sea.


                      • #12

                        I am wondering if others are in a similar situation… mostly feeling financially adrift in setting of doing well.
                        Click to expand...

                        If I am reading you correctly, you are more emotionally adrift because you are financially well off relative to your peers and cannot find people to discuss things with, all being on the same level. In social circles, when everyone is discussing their large house, latest Beemer, kids activities and hard work needed to achieve all those things, you find nothing in common to discuss with them. At least that was what happened to me when I saved assiduously at the beginning of my career.

                        Maybe you will find friends who share same interests as you, including financial frugality. Good luck.



                        • #13
                          Sometimes, our struggles in life is a strong motivator to keep us going forward.  Hope and a believe that the future will be better is something to look forward to.  Sounds like you might be experiencing some complacency (apologies if this sounds judgmental but that is not my intent).

                          Maybe try volunteering? Medical missions? You say you and your partner are not interested in having kids, but perhaps you can try to experience what it would be like to mentor a young one in an under served community.  Every community can benefit from volunteerism.

                          Money surely isn't everything.



                          • #14
                            From reading your post, I sensed that you are seeking purpose and a plan. This is leading to your feeling of aimlessness. Wealth is merely a means to an end, not the end.
                            Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087


                            • #15
                              Thanks for all the great replies.  By financially adrift, I meant what do I do with the excess money in my bank account every month that previously I had a plan to use (I know... a good problem to have).  It is obvious, but thanks for reminding me... to live life--though I was doing a pretty good amount of that before.  I think I will probably donate more to charity and do more pro-bono/reduced fee work and continue to expand friendships and hobbies.