Well if 4-7 mill means welcome to the top 1% then I guess I made it. I certainly don’t feel rich however.
I hear ya. There are always richer people, no matter where you are on the wealth scale. Per Thorp’s analysis (which was pretty rigorous) that net worth value of 1% is the 4M level. That is definitely obtainable for late-middle or end career for a specialist who made good money choices. That is the target for FI for many of us since it would generate 160K at the 4% SWR. Most doctors have no hope of reaching those higher levels discussed on my blog post unless they hit a non-clinical jackpot with a patent, biotech start-up, VC, etc.
Sure except the time value is not taken into account or given proper weight. As you mentioned, attainable for late-middle or end career specialist.
Point I’m trying to make is that the accumulation for an MD/preofessional or level 1 (see above) takes time. Which really is a big “drag”. Enjoying 4 million in 60’s < In 40s.
Newbie, you want to wake up "rich" tomorrow. The only way for that to happen is to marry a rich girl with no prenup or to hit powerball. This site is mostly about realistic plans to slowly get rich. This is very achievable even for you. Btw people in their fourties and fifties enjoy their money immensely.
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