Fancypants doctor can't retire early because she likes to fly to New Jersey

[Abe]

https://www.nytimes.com/2022/09/24/business/millennials-retirement.html

Tiniest violin orchestra, queue up! Is the NY Times just trying to start a class war? As a physician I can assure you it's hard to not save 50% of your (post-tax) income.

[bacchi]

Yeah, and that first physician mentioned is an anesthesiologist. She's not even saving $3000/month! I guess eating at "finer restaurants" is more important than FIRE.

The below is also an odd statement. I guess they equate "traditional FIRE" with renting out a room and never doing anything fun.

“With traditional FIRE, we would spend no money and squirrel it away forever,” Ms. Minichiello, 36, said.

[Freedomin5]

The physician is also trying to pay off $250K in student loans. I suppose that would make it more difficult to put 50% of your income into investment/retirement accounts...at least until the loans are gone.

[bacchi]

The physician is also trying to pay off $250K in student loans. I suppose that would make it more difficult to put 50% of your income into investment/retirement accounts...at least until the loans are gone.

True and it may turn out that the loan payoff spigot is diverted to savings.

However, I'm betting another reason will be created as to why saving 50% is so difficult.

[Abe]

True but the cost of living in Atlanta is quite low (my cousin is a doctor over there, with similar debt burden). They are saving a loooot of money right now. $250k can be paid off in about 3-4 years easily if she tried.

[mm1970]

The physician is also trying to pay off $250K in student loans. I suppose that would make it more difficult to put 50% of your income into investment/retirement accounts...at least until the loans are gone.

Yep, and of course what is missing is ... how often does she fly to NJ, eat at fine restaurants, and vacation?  I mean, you can still do that, just not that often. 

Long ago and far away, I had a coworker who had a hard time saving money because he liked eating at this really great steakhouse.  And he ate there at least once a week, sometimes twice.  At $125 per meal, and this was 20 years ago.  He was making $60k a year, or thereabouts.

[Taran Wanderer]

I like really great steakhouses. I’ve been to one on my own dime twice in 20 years. It was delicious both times, so I might go again in 10 years or so! In the meantime, it turns out our barbecue can cook steaks, too.

[zolotiyeruki]

I like really great steakhouses. I’ve been to one on my own dime twice in 20 years. It was delicious both times, so I might go again in 10 years or so! In the meantime, it turns out our barbecue can cook steaks, too.

LOL!  I have a similar story:  DW and I really like Brazilian Churrascarias (sp?), and it somehow became a tradition for us to splurge once every couple of years shortly after each kid was born.  The food is delicious, and the service at Fogo de Chao was amazing.  Then we finished birthing kids, and didn't go for a while.  When we finally went back several years later, we were disappointed to find that the service had gone from "holy cow, we feel like royalty, with people waiting on us hand and foot!" to "are they ignoring us on purpose?"  And we haven't been back since.

[change_seeker]

I like really great steakhouses. I’ve been to one on my own dime twice in 20 years. It was delicious both times, so I might go again in 10 years or so! In the meantime, it turns out our barbecue can cook steaks, too.

I am very fortunate in that regard.  Every time we try having steak at a restaurant, my wife responds, "Your steaks at home are SO much better!"

Good reminder of why I love her so much!

[honeybbq]

Yeah, and that first physician mentioned is an anesthesiologist. She's not even saving $3000/month! I guess eating at "finer restaurants" is more important than FIRE.

That part was really not clear to me. It also said she had an IRA and was contributing to an after tax account as well. So the real amount she is saving wasn't stipulated.

[Missy B]

The physician is also trying to pay off $250K in student loans. I suppose that would make it more difficult to put 50% of your income into investment/retirement accounts...at least until the loans are gone.

Yep, and of course what is missing is ... how often does she fly to NJ, eat at fine restaurants, and vacation?  I mean, you can still do that, just not that often. 

Long ago and far away, I had a coworker who had a hard time saving money because he liked eating at this really great steakhouse.  And he ate there at least once a week, sometimes twice.  At $125 per meal, and this was 20 years ago.  He was making $60k a year, or thereabouts.

Yes, its interesting that she blames her loans -- which paid for her education that enables her to earn 350K a year -- for her not saving instead of her other behaviors.
And no mention of the wedding, which i feel confident given her ethnicity and relative high status as a doctor, will be huge and expensive. Like another 250K.