SEVEN-Figure Income But CAN’T Retire Early? (High-Earner Paradox) | Bigger Pockets Video

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Just because you’re a high-income earner doesn’t mean you’re automatically fast-tracked to FIRE. Those with high incomes commonly have VERY high expenses, making it harder to achieve financial independence on a seven-figure salary than on $75,000. Today, anesthesiologist Shweta is talking about her journey to FIRE and the “lost decade” for doctors—a struggle most regular investors know nothing about.

Shweta and her spouse make a high combined income, well into the seven-figure range. But with high taxes and multiple six figures of yearly expenses, she isn’t saving most of it. She’s about halfway to her FIRE goal, but with dreams of getting to retirement in the next ten years, she wonders if she’ll have to trim her FIRE number or somehow boost her savings.

For many physicians and doctors, finances come last, even after making a massive income. This episode proves that whether you make $60,000 or $600,000, knowledge and financial know-how are the TRUE keys to financial independence, not simply more money.

00:00 The High-Earner Paradox
00:31 Sponsor: Baselane!
01:32 "Where'd It All Go!?"
04:22 Current Income and Expenses
06:08 Investing and FI Number
09:13 Trading Money for Time
13:13 Investment Portfolio
17:37 Investing OUTSIDE of Retirement
21:30 The Rule of 72 (Double Your Money)
24:14 Biggest FIRE Mistake