Thoughts on 5M Portfolio?

[charlotte9014]

@darienjames Thanks. This actually is a portfolio proposed to my parents by a new advisor working on an hourly-based fee. My dad is a doctor who loves his work and derives more meaning from it than anything else. I tell him he doesn't need to work so hard and maybe he can move to part-time. The money he earns doesn't matter at this point - he does it because he loves it, and know's he contributes.

 

[danakita2003]

@charlotte9014 Thanks for the honest answer.

When my dad hit like 68ish or so, he went from full time to part time and LOVED it. He liked what he did, generally had autonomy to pick projects, and it wasn't physically or time demanding. He loved to continue working, sometimes, and also loved having more time to travel, relax, spend time with family, etc. Part time definitely seems like a great option for those who still like to work, but don't need to financially.

 

[charlotte9014]

@danakita2003 Absolutely. It's hard to be a part-time doctor, however. Without divulging too much, he is a specialist that is in high demand to ensure people stay alive (not to shit on plastic surgery, just not what he does). He takes care of people who truly need it, he is seasoned and skilled, and he helps people around him. I think he works too hard, and he does too, but overall he knows he's sharp enough to still contribute and seems to enjoy doing so. Ensuring he keeps his brain sharp and the extra 250K/year don't hurt, either.

 

[trevorkian]

@charlotte9014 There’s a doctor shortage in America. Bless your dad we need him.

 

[charlotte9014]

@trevorkian Thanks. That makes me proud to be his kid. He has never done it for the money, and has always lived below his means (3 cars since 1980, wears free shirts he gets at baseball games, etc). Believe it or not, he has passed on opportunities to make a lot more money for wealthy people individually, but he wants to help everyday people. That's how he accumulated this wealth.

 

[danakita2003]

@darienjames What about giving it to their kids/grandkids?