This is somewhat of a mid to late year 2022 summary as I began documenting my financial journey. I am an emergency physician two years out of residency and documenting my journey to pay down debt, build wealth but at the same time find time to live a more balanced and happy life. My personal income as an emergency physician this year will be in the 450k-500k range. My wife makes a little over 100k in another health care field.
I have worked hard moonlighting and working extra shifts and hope to work less overall over the next few years as our finances improve. I am starting a new job next year with a base around 320k (but potential to make much more over the future) so time will tell how drop in income less feels
Debts (as of September 2022)
-Student Loans: 210k
-No mortgage as of right now but we are building a house and will have a mortgage in the 700k range.
No other current major debt. Cars are paid off and we carry no credit card debt.
Assets:
| Emergency Fund: | $44,306 |
| Roth IRAs | $63,883 |
| 401ks | $342,210 |
| 457 | $34,776 |
| Crypto | $29,037 |
| 529 | $2,959 |
| Taxable | $157594 |
| Total: | $610882 |
So currently when have a net worth around $400k, approximately 2 years out of residency. This will obviously change quite a bit once our house is built and we own a mortgage but I wanted to get a base down to get the blog started.
Please continue to follow along in my progress and I hope the market turns around soon!!
-AverageMoneyJoeMD