Visualize your financial future. See your path to wealth, track milestones, and understand the power of compound interest.
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1. Accumulation (Age 30-40)
Pay off debt, build emergency fund, max retirement accounts
2. Growth (Age 40-55)
Compound interest accelerates, income peaks, wealth multiplies
3. Preservation (Age 55+)
Protect wealth, reduce risk, prepare for retirement
$0 Net Worth: Debt paid off
$100k: Hardest milestone - takes 5-7 years
$1M: Financial independence threshold
25x Expenses: 4% rule retirement readiness
💡 The first $100k takes the longest. After that, momentum accelerates.
❌ Lifestyle inflation with income
❌ Saving too conservatively
❌ Ignoring tax-advantaged accounts
❌ Not automating savings
⚠️ Physicians often delay wealth building due to training. Start early!
Early in your career, your contributions are the primary driver of growth. Investment returns on a $20k portfolio are small. But as your balance grows, compound interest takes over. A $500k portfolio earning 8% gains $40k per year without you lifting a finger. This is why the first $100k is the hardest milestone - after that, growth accelerates exponentially.
Target 20-30% of gross income. Early-career attending: 20-25%. Mid-career: 25-35%. Late-career: 30-40%. During training, even 5-10% is meaningful. The key is to increase your savings rate as your income grows (avoid lifestyle inflation). Many physicians who retire early save 40-50% of income by living like a resident for 5-10 years post-training.
It depends on interest rates. If loans are <4%, prioritize investing (expected returns ~8% long-term). If loans are >6%, prioritize payoff. Between 4-6%, do both. ALWAYS max your 401(k) match first (free money), then emergency fund, then decide between extra loan payments vs taxable investing. For PSLF-eligible physicians, investing usually wins since your loans will be forgiven.
These are estimates, not guarantees. Markets don't return exactly 8% every year (some years +20%, others -10%). Income doesn't always grow 3% annually. Life happens - marriage, kids, career changes, health issues. Use these projections as a guide, not a promise. The real value is understanding trajectories and trade-offs. Run scenarios, stress-test assumptions, and adjust your plan over time.
Disclaimer: These projections are educational estimates based on your inputs and assumptions about future market returns, income growth, and inflation. Actual results will vary. Markets are unpredictable, and life circumstances change. This tool does not account for taxes, unexpected expenses, or career interruptions. Consult with a financial advisor for personalized planning.
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