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Fatlittlepig\'s Question for POF (Physician on Fire)

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  • CM CM 
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    Status: Physician
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    Joined: 01/14/2017
    .

    Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.

    #205879 Reply
    Avatar G 
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    Status: Physician, Small Business Owner
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    Suze?  Suze Orman, is that you?!

    #205880 Reply
    CM CM 
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    Status: Physician
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    but not having a job at this age, would be extremely boring, i think it is likely physician on fire will return to the workforce due to this reason.

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    He has a job. He’s a successful entrepreneur with a growing business.

    Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.

    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
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    but not having a job at this age, would be extremely boring, i think it is likely physician on fire will return to the workforce due to this reason. 

    Click to expand…

    He has a job. He’s a successful entrepreneur with a growing business.

    Click to expand…

    You’re comparing the income of being an anesthesiologist to running a blog? I would treat the blog income as something that could evaporate at any time. It’s great but let’s not fool ourselves and compare it the stability of a physician income.

    #205883 Reply
    Liked by Tangler
    Avatar Panscan 
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    but not having a job at this age, would be extremely boring, i think it is likely physician on fire will return to the workforce due to this reason. 

    Click to expand…

    He has a job. He’s a successful entrepreneur with a growing business.

    Click to expand…

    You’re comparing the income of being an anesthesiologist to running a blog? I would treat the blog income as something that could evaporate at any time. It’s great but let’s not fool ourselves and compare it the stability of a physician income.

    Click to expand…

    or continue to grow exponentially, whereas anesthesiologist money is much less likely to grow more.

     

    with blogs it seems like the hardest part is getting them going and then once your snowball starts it just keeps growing. maybe you run out of content at some point I guess.

    #205885 Reply
    Lordosis Lordosis 
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    Status: Physician
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    If he did not have his blog to retire too I would completely agree with flp. But it sounds like he did his one more year thing s few times and has a well paying job to keep him busy with. His adventuring will lead to more content I am sure.
    It is not what I would do but I am glad to watch someone else do it.

    “Never let your sense of morals prevent you from doing what is right.”

    #205890 Reply
    Avatar Tangler 
    Participant
    Status: Physician
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    Joined: 08/23/2018

    cool topic, great thoughts and input.
    Love FLP and POF
    Q: If he had 5 million in savings + 10 rental properties bringing in 10k per month in passive rental income rather than a blog for “passive” income would we worry as much about his survival in an early bear market (sequence of returns risk)? As stated he did the part time glider path slow descent toward a new life. I think he will be fine. I do agree he is taking some risk and could work part time longer and take less risk but he has been really careful and is a frugal rascal. Also he has a ton of outside interests, doubt he will be bored. The part time insurance plan is a good one, but when the headaches from the bs gets bigger than the benefit i will hit the eject button too, But, i want some rental income and a big nest egg (outrageous egg) because going back seems like it would really suck.

    #205893 Reply
    Liked by Docbeans, RocDoc
    CM CM 
    Participant
    Status: Physician
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    Joined: 01/14/2017
    but not having a job at this age, would be extremely boring, i think it is likely physician on fire will return to the workforce due to this reason. 

    Click to expand…

    He has a job. He’s a successful entrepreneur with a growing business.

    Click to expand…

    You’re comparing the income of being an anesthesiologist to running a blog? I would treat the blog income as something that could evaporate at any time. It’s great but let’s not fool ourselves and compare it the stability of a physician income.

    Click to expand…

    WCI earns more than an anesthesiologist from his online business.

    Any small business can fail, but the upside is greater than physician income, and the adventure of making the attempt is exciting. It’s his own baby, created out of nothing.

    Some folks prefer the safest path. Others like to wander off to see what might be there. You’re the former. That’s fine.

    Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.

    #205894 Reply
    Avatar Anne 
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    Status: Physician
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    FLP I found your perfect retirement encore career

    https://images.app.goo.gl/4edF8vPrRXB1vhrz8

    #205909 Reply
    Rogue Dad, M.D. Rogue Dad, M.D. 
    Participant
    Status: Physician
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    Joined: 03/07/2016

    If people want an idea of what PoF could be doing in 5 years, just look at Mr Money Mustache.

    He makes even more off his website/brand (without trying, could make more). He claims he still lives a very frugal existence. While MMM has recently gone through divorce, I have zero real insight into what led to that outcome. While I hope the same fate does not befall PoF regarding marriage, from a strictly finance standpoint MMM’s net worth sounds as if it just continues to grow.

    I absolutely see the benefits from the PoF approach. I know the lifestyle he is pursuing with his FIRE status wouldn’t be a good fit for me and my family, but the freedom to CHOOSE that lifestyle is the real takeaway.

    http://www.RogueDadMD.com

    An alt-brown look at medicine, money, faith, and family

    #205911 Reply
    Avatar AR 
    Participant
    Status: Physician
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    Joined: 03/10/2016
    but not having a job at this age, would be extremely boring, i think it is likely physician on fire will return to the workforce due to this reason. 

    Click to expand…

    He has a job. He’s a successful entrepreneur with a growing business.

    Click to expand…

    You’re comparing the income of being an anesthesiologist to running a blog? I would treat the blog income as something that could evaporate at any time. It’s great but let’s not fool ourselves and compare it the stability of a physician income.

    Click to expand…

    Do you have any idea how much successful blogs make?  I think you’re severely underestimating here.

    Now it would be one thing to just assume you are going to have a successful blog from day one, but apparently POF has been doing it for sometime and is making a good amount. So, in his case, he can project a much higher blog income than someone just starting out.  Also, I’m assuming he’s a reasonably intelligent individual, so it’s within his ability to make realistic projections.

    #205914 Reply
    Vagabond MD Vagabond MD 
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    Status: Physician
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    Joined: 01/21/2016

    I absolutely see the benefits from the PoF approach. I know the lifestyle he is pursuing with his FIRE status wouldn’t be a good fit for me and my family, but the freedom to CHOOSE that lifestyle is the real takeaway.

    Click to expand…

    I could not have said it better myself. And I tried.

    I am not sure why @flp insists on imposing his value system on others. It works for him, and that’s fine, but as someone said earlier, there is not one true path to success, fulfillment, and financial security.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    #205915 Reply
    Avatar AR 
    Participant
    Status: Physician
    Posts: 788
    Joined: 03/10/2016

    If people want an idea of what PoF could be doing in 5 years, just look at Mr Money Mustache.

    He makes even more off his website/brand (without trying, could make more). He claims he still lives a very frugal existence. While MMM has recently gone through divorce, I have zero real insight into what led to that outcome. While I hope the same fate does not befall PoF regarding marriage, from a strictly finance standpoint MMM’s net worth sounds as if it just continues to grow.

    I absolutely see the benefits from the PoF approach. I know the lifestyle he is pursuing with his FIRE status wouldn’t be a good fit for me and my family, but the freedom to CHOOSE that lifestyle is the real takeaway.

    Click to expand…

    I think MMM is an OK but not great comparison.  The main reason is that sites that cater to docs and other medical professionals have a dramatically lower target audience.  Even if they aim for broader appeal, there is something about a doctor writing it that’s just going to make others think, “Well that just doesn’t apply to me”.  MMM doesn’t have that handicap.

    #205917 Reply
    Liked by Anne
    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
    Posts: 875
    Joined: 01/26/2017

    I absolutely see the benefits from the PoF approach. I know the lifestyle he is pursuing with his FIRE status wouldn’t be a good fit for me and my family, but the freedom to CHOOSE that lifestyle is the real takeaway.

    Click to expand…

    I could not have said it better myself. And I tried.

    I am not sure why @flp insists on imposing his value system on others. It works for him, and that’s fine, but as someone said earlier, there is not one true path to success, fulfillment, and financial security.

    Click to expand…

    Incorrect, not imposing anything on anyone. This is a financial forum, physician on fire’s strategy is a valid topic to discuss. I find it odd to completely pull the ripcord and quit (I believe the white coat investor himself still works part time), with a few shifts a month the level of financial safety for him and his family drastically improves. He doesn’t seem like he’s completely burnt out or anything which is why I think it’s a odd decision. I still think he has a good website, I hope it continues to grow etc.

    ill post my thoughts on the fire movement in general at a later time

    FLP

    #205923 Reply
    Liked by octopus85, ENT Doc
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 1209
    Joined: 02/11/2019

    If people want an idea of what PoF could be doing in 5 years, just look at Mr Money Mustache.

    He makes even more off his website/brand (without trying, could make more). He claims he still lives a very frugal existence. While MMM has recently gone through divorce, I have zero real insight into what led to that outcome. While I hope the same fate does not befall PoF regarding marriage, from a strictly finance standpoint MMM’s net worth sounds as if it just continues to grow.

    I absolutely see the benefits from the PoF approach. I know the lifestyle he is pursuing with his FIRE status wouldn’t be a good fit for me and my family, but the freedom to CHOOSE that lifestyle is the real takeaway.

    Click to expand…

    I think MMM is an OK but not great comparison.  The main reason is that sites that cater to docs and other medical professionals have a dramatically lower target audience.  Even if they aim for broader appeal, there is something about a doctor writing it that’s just going to make others think, “Well that just doesn’t apply to me”.  MMM doesn’t have that handicap.

    Click to expand…

    MMM makes compromises most of us are unwilling to do.  I do not mind working a few more years if it means not having to wash out my Ziploc bags, extreme coupon, or hope for financial aid to educate my kids.  I find this crowd has a standard of living closer to my own.  Except those crazies who keep their house at 52 degrees 😛

    Does PoF really need to dog sit while on vacation?  Probably not but I think he is doing it partially for the challenge to keep on budget and partially because he is frugal .  It will also make interesting blog posts.

    “Never let your sense of morals prevent you from doing what is right.”

    #205926 Reply

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