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  • #16
    Originally posted by Nysoz View Post

    I find that it’s still rewarding most days. I still love operating and have fun in the OR. Yesterday was my last case (interesting that my first and last case was an appy) and I pretended to be a lawn sprinkler with the local. Gotta have fun where you can.

    The days it bothers me are the ones with tough cases with a poor outcome no matter what you do.
    Good for you( that you have done so well financially). and best of luck for your future. High risk, High reward.

    As a fellow surgeon, I can relate to you about enjoying the work as long as outcomes are good !

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    • #17
      Originally posted by ENT Doc View Post
      “My schedule was 4 days a week, 2 half days of office where I saw from 1-8 patients, 1 OR day where I did 1-4 cases, and 1 endoscopy day where I did 4-6 scopes. I probably put in 20-30 hours of real work a week where the rest of the time I'm sitting on my phone or the internet.“

      I found this more amazing than the unspecified meteoric rise in your portfolio. Solid arc.
      Same - would love to hear more about this situation. Given that you had a five year guarantee, I assume this was a rural place that was willing to give you what you wanted if you would come there. I have tried to do something similar, but in a different specialty, so I would love any thoughts you have.

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      • #18
        Congratulations. What a journey. To say it would be difficult to replicate is quite an understatement. I agree that your day to day sounds like the best arrangement I’ve ever heard for a rural general surgeon, and I know a few. Assuming the salary was reasonable.

        So you’re planning to eventually return to full time work? Curious, what if you can’t find the perfect job on your terms? Since you’re are FI, would you just forgo full time employment or compromise?

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        • #19
          Originally posted by SEC Doc View Post

          Same - would love to hear more about this situation. Given that you had a five year guarantee, I assume this was a rural place that was willing to give you what you wanted if you would come there. I have tried to do something similar, but in a different specialty, so I would love any thoughts you have.
          This level of (un)productivity is at the level where I’d be surprised that the medical center was making a profit off them given the assumed salary. I’d love to hear specifics on salary and net worth.

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          • #20
            I was essentially breaking even for the hospital or small loss. Initial contract was guaranteed salary of around 320k for 2 years and was supposed to adjust +/- with rvu production. They were looking for me to make 6000 rvus a year but I made like 4500? Since there were some situations out of anyone’s control that didn’t allow me to get that much they just extended the guarantee annually.

            The hospital is interesting. Rural area but it’s the only hospital in the county and ER is actually pretty busy. Having only 2 people for call leads to burn out but not enough business 3 full elective practices. The above schedule was just elective stuff and doesn’t take into account anything that comes through the ER.

            I would return to full time work but like I mentioned on my terms. No crazy call schedules or trying to make 10k rvus like some people I know. Ideally would be just nice straightforward bread and butter elective cases and I could do that forever. I’d be willing to make some compromises but wouldn’t put up with random bs.

            Current net worth is around $4m. I do net worth calculations on the first of every month so I’ll have the new number soon. It’s not as much as some others here but more than enough for my spending (I think my wife could challenge that though lol). Also instead of the typical selling equity to draw down, I sell options for cash flow and income. My portfolio has exploded because I just reinvest all of this and have been trying to use my w2 salary for increased spending and taxes.

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            • #21
              Originally posted by Nysoz View Post
              I was essentially breaking even for the hospital or small loss. Initial contract was guaranteed salary of around 320k for 2 years and was supposed to adjust +/- with rvu production. They were looking for me to make 6000 rvus a year but I made like 4500? Since there were some situations out of anyone’s control that didn’t allow me to get that much they just extended the guarantee annually.

              The hospital is interesting. Rural area but it’s the only hospital in the county and ER is actually pretty busy. Having only 2 people for call leads to burn out but not enough business 3 full elective practices. The above schedule was just elective stuff and doesn’t take into account anything that comes through the ER.

              I would return to full time work but like I mentioned on my terms. No crazy call schedules or trying to make 10k rvus like some people I know. Ideally would be just nice straightforward bread and butter elective cases and I could do that forever. I’d be willing to make some compromises but wouldn’t put up with random bs.

              Current net worth is around $4m. I do net worth calculations on the first of every month so I’ll have the new number soon. It’s not as much as some others here but more than enough for my spending (I think my wife could challenge that though lol). Also instead of the typical selling equity to draw down, I sell options for cash flow and income. My portfolio has exploded because I just reinvest all of this and have been trying to use my w2 salary for increased spending and taxes.
              Nice work. You are young and have achieved wild success. You do you, but I'd stop any risky investments, attempt to get to indexing more, and let it ride. Work where and how much you want. Congratulations!

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              • #22
                Congrats on your success and hope everything works out for you. This made me think about looking at my returns or a portfolio of a bunch of boring etfs and funds. My returns for the last years according to Vanguard were 27%, which includes a bunch of muni funds and total bond market fund. For me, I couldn't sleep at night with NW bouncing around like a yoyo. I would not confuse a good market with superior financial skills. Last year my returns were well over 1 mil more than my W2, It was a different story last march, also several years ago. I like to think I just got smarter and better at my financial skills, but I really know that is not the case, because a little over a year ago I lost a 1/3 of my portfolio with in a month and I wasn't doing anything any different. When the market goes up , I wonder why I even go to work any longer. All, it takes is a big financial hiccup to keep me grounded for a while. You have a great skill in life, which many out there would love to be so talented, I am speaking of surgery. Slow down, enjoy it for a while and keep helping patients.

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                • #23
                  Great story. I made a lot of money in my 30s trading tech stocks in the 90s. I also remember thinking why am I getting up in the middle of the night when the stock market is so easy. Just remember Mr market gives but also takes. I was able to keep enough of my early success to allow me to work part-time for years before completely retiring at 62. You have a great foundation for your life if you avoid lifestyle inflation.

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                  • #24
                    Originally posted by Hatton View Post
                    Great story. I made a lot of money in my 30s trading tech stocks in the 90s. I also remember thinking why am I getting up in the middle of the night when the stock market is so easy. Just remember Mr market gives but also takes. I was able to keep enough of my early success to allow me to work part-time for years before completely retiring at 62. You have a great foundation for your life if you avoid lifestyle inflation.
                    +1 The long term issue is that the market changes. The key in your call strategy is figuring out what the market will actually do not what it should do. That is your risk.
                    The point is yes take some time off and see how your life changes. Over confidence is not your friend in the market. Your life and cost of living will change.Keep your hand in the physician game in some form or fashion. $4m can go to $2m a lot faster than the opposite direction.

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                    • #25
                      Congrats, well done.
                      ........selling call options for income.......
                      How many times did you lose your TSLA at a higher price and regret it? And then what was your next move?

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                      • #26
                        Originally posted by jz- View Post
                        Congrats, well done.
                        ........selling call options for income.......
                        How many times did you lose your TSLA at a higher price and regret it? And then what was your next move?
                        I’ve never lost shares I wanted to keep, even selling covered calls during s&p inclusion. I’ve just kept rolling up and out for a credit. It took some time (like 9 months) but eventually they become worthless.

                        Even if TSLA did keep going up and to the left, rolling itm calls gives me around 10-15% increase in the value held annually last I checked.

                        If at some point I’m forced to sell my shares for $10m then I guess I’d be ok with that. I’d then pay the taxes necessary and sell puts at what I think was a reasonable valuation/discount and try to get the shares back or get a more than reasonable return on cash held.

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