In responding to a post on the forums, I updated my financial spreadsheet and discovered that as of yesterday, our portfolio stood at a little over $930,000. This is the first time it's ever been over 900K so I thought that was exciting.
I know that having $1 million really doesn't mean anything remarkable. It isn't enough to retire and it won't change anything about what we're doing but to see that we're closing in on that point is still pretty neat.
It will still take some time to get there but we're the closest we've ever been.
Portfolio topped $900,000!
July 5th, 2017 at 12:43 am
July 5th, 2017 at 12:49 am 1499215786
July 5th, 2017 at 01:14 am 1499217246
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July 7th, 2017 at 03:21 pm 1499440893
Interesting question. I think many doctors fall into the trap of living the "doctor lifestyle". Back when I used to do hospital work, I would pull into the doctors' parking lot in my Camry and mine would be the lowest end car in the lot, surrounded by Lexus, Mercedes, Infiniti, BMW, etc.
A national physician's financial magazine actually did a feature story on my family and I back then focusing on our frugal ways and how I was aggressively paying off my student loans while simultaneously saving a then-substantial amount. Clearly, they thought my story was atypical enough to warrant that article.
As a family doctor, I've always been on the lowest end of the doctor pay scale so in absolute dollars, I'm sure I don't have nearly as much as many others, but in terms of percentage saved relative to income, I suspect I'd rank fairly high.
July 7th, 2017 at 05:16 pm 1499447785
July 8th, 2017 at 02:47 pm 1499525246
I don't know if that's an accurate statement. I think looking at the dollar amount is deceiving. Let's say I earn 150K but have about $1 million saved but the orthopedic surgeon down the street earns 450K and has $1.75 million saved. Who is in better shape? He's got more money but relative to our incomes, I've done a better job socking money away for the future. Plus, if he also has a huge mortgage and a huge car payment or two, that makes his situation even worse.
July 22nd, 2017 at 07:14 am 1500707680