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Opportunity - should I take it?

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  • Opportunity - should I take it?

    Hi, I am 38 years old, clean single, and is a Cardiologist. I have about 1.5 million as my total asset. I live frugally. I am pretty sure I will get to FIRE goal in about 2 years. I plan to continue working afterward, but more on my terms. Currently, I am employed by the hospital, and I generate way more than what they pay me. I enjoy the current lifestyle. It is not bad.

    Now, there is an opportunity for partnership for Ambulatory Surgical Center. This opportunity will likely triple my current income in 2-3 years. However, I am very sure I will have to work myself to the bone and will likely have no life. And with this partnership, I will achieve FIRE, but I probably won't slow down. Who knows, I still may.

    My thought is I am making a pretty good income for what I do. I am not sure if I want to pursue the Ambulatory Surgical Center gig even though it is a great opportunity with the potential to create a large amount of income. I just hate the thought of missing out on this opportunity. I think it came down to $$$.

    As of now, I already know what I need and the amount I need for retirement (of course, I can't afford the Yatch or nice toys). And I like to do things while I am young and healthy. If I do the Ambulatory Surgical Center then I can afford a Yatch and some nice toys. To me, the latter is not worth my Youth.

    What do you think?

  • #2
    What is a 'clean single' and 'yatch'? Those could affect my answer.

    Comment


    • #3
      Agree, maybe I’m too old, but I have no idea what clean single and yatch mean, but I wouldn’t do it. You already have a lot of assets for your age, and by 50 you’ll have more money than your (potential future) kids could spend. I wouldn’t trade time for money that you don’t need.

      Comment


      • #4
        I'm assuming they mean yacht but I also think they may not know what a yacht costs.

        Comment


        • #5
          I am thinking you are ESL and super smart. Do you mean a “yacht”? I don’t know what a “clean single” is unless you are referring to no kids and/or no prior marriages. Perhaps you can clarify? Otherwise, I would recommend getting a financial plan in place to help you make these decisions and others. Good luck!
          Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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          • #6
            Originally posted by CordMcNally View Post
            What is a 'clean single' and 'yatch'? Those could affect my answer.
            I think its a reference to successful black man??idk



            "I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy. I mean, that's a storybook, man." Dementia Joe in reference to Barack

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            • #7
              I am guessing clean single means non smoking, no drugs, no prior marriages or illegitimate kids and a heterosexual.

              Yacht was probably a typo.

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              • #8
                As to investing, depends on your activities in your free time, and will you regret this opportunity in 5 years and can you slow down or get passive investment from this in a few years if you invest now so that you can even quit cardiology should you burn out.

                Comment


                • #9
                  Originally posted by Kamban View Post
                  I am guessing clean single means non smoking, no drugs, no prior marriages or illegitimate kids and a heterosexual.

                  Yacht was probably a typo.
                  In that case, I am dirty married and yacht-negative.

                  To answer the question, if you are happy with your job, and earn enough to meet and exceed your needs, why take a job with a lot of uncertainty?

                  Comment


                  • #10
                    I mean "a Yacht", and "clean single means no kid attached or previous marriage"

                    Since I didn't spell Yacht correctly the first time, then I definitely should not get it

                    Comment


                    • #11
                      What’s your current income and your current yearly spending?

                      But based on your premise that you’re doing fine financial and aren’t one of those people who enjoys working all day, it’s probably not worth it to work more even if it means more income.

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                      • #12
                        I don't understand why being involved with an ASC means you have to "work yourself to the bone"? how would your life be much different if you are doing procedures at one location vs another?

                        Comment


                        • #13
                          Originally posted by Bruingent View Post
                          Hi, I am 38 years old, clean single, and is a Cardiologist. I have about 1.5 million as my total asset. I live frugally. I am pretty sure I will get to FIRE goal in about 2 years. I plan to continue working afterward, but more on my terms. Currently, I am employed by the hospital, and I generate way more than what they pay me. I enjoy the current lifestyle. It is not bad.

                          Now, there is an opportunity for partnership for Ambulatory Surgical Center. This opportunity will likely triple my current income in 2-3 years. However, I am very sure I will have to work myself to the bone and will likely have no life. And with this partnership, I will achieve FIRE, but I probably won't slow down. Who knows, I still may.

                          My thought is I am making a pretty good income for what I do. I am not sure if I want to pursue the Ambulatory Surgical Center gig even though it is a great opportunity with the potential to create a large amount of income. I just hate the thought of missing out on this opportunity. I think it came down to $$$.

                          As of now, I already know what I need and the amount I need for retirement (of course, I can't afford the Yatch or nice toys). And I like to do things while I am young and healthy. If I do the Ambulatory Surgical Center then I can afford a Yatch and some nice toys. To me, the latter is not worth my Youth.

                          What do you think?
                          I feel like a broken record. But a lot of these advice threads are basically asking "should I do X thing that I don't really want to do, for the reward of a bunch of money I don't really need".

                          Do you want to "work yourself to the bone and have no life"? If so, go for it. If not, why would you even consider that?

                          Comment


                          • #14
                            You already answered your own question. It doesn’t sound like you want or need the money.

                            When people post like this, I think they forget one basic fact - you need enough money to reach your goals. You do not need all the money in the world. Figure out if you’re achieving your goals and if so there is no need to chase every last dollar.

                            Comment


                            • #15
                              Stay put with your current job! You're doing fine.

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