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Quote from Re3iRtH
Best advice so far.
Also, I still don’t get advice based on net worth numbers. What matters is what asset classes are you invested in, what is your corporate and legal structure, how much cash flow does it produce, and what tax incentives are you taking advantage of?
2 million in equity is 5 million dollars in real estate value, at a conservative 10% return that you’re legally not paying taxes on is $200,000 to live on post tax.
Now if you’re following traditional retirement advice to get that same 200,000 dollars after taxes you’re going to need north of 5 million and more likely 7 million.
I would think being around a lot of intelligent people this would be common sense. Likely is that radiologists are working too much and are not looking into the tax incentives of real estate.
Notice that even re3irth and I, who are adamant about time > money (and experiences) still don’t guarantee that we’ll give up rads entirely. With all the credentialing involved, and how fun it is to solve the diagnostic puzzles (as long as it isn’t nonsense study after nonsense study and just stress), why would you eliminate it entirely? I probably won’t, but that does take some managing of the career, the licensing, the credentialing processes, etc.
By far the biggest investment mistake I see is not owning some BTC. Funny enough, I think even Dr. Real Estate is in this crowd. Some people like to learn the hard way.
