If you had 300k cash now, and a schedule where you're only working 12 shifts a month and thus free time to start some side hustles and business what would you do in 2023?
I understand the generic answer you may give us "real estate" or "syndications" or "FSED" but if it's not too much trouble, I'd appreciate it if you could be more descriptive.
Would you take 50k of that and find a rental that you can cash flow? Would you put another 50k of that into some dividend-earning equity? Would you take 100k of that and start urgent care or FSED? Maybe consider starting some other para-medicine business after doing some market research and finding an edge? How much would you keep as cash if any of the ventures above fails?
I will preface this by saying that experience is very important so I would invest while educating yourself in the process. Choose what you are interested in is very important. Assuming a typical city
1. Put 100K and buy a place. If you can do STR great, if not do MTR. I have learned LTR is low yield, and can be a big pain between renters
2. Put 50K into apt/RE/Commercial syndication. Imp to find good operators. I can help point you in the right directions if interested
3. Hold the 150K and if #1 and #2 works out, do it again. If not, invest in the S&P500.
FSERs are too big of a hill to climb by yourself. If you want to slowly leave the hospital, then talk to your friends and find a good doctor owned FSER to pick up shifts. If it looks good, buy in, or buy into new sites. Again, very imp to have good operators who treat the docs well.
UCs are a decent choice.. Break even about 15ppd, if you can achieve 30ppd, then you could make close to 1M a year. Cost of entry reasonable but you need to find a good site. If you can find 4-5 ER docs to go in with it, split the risk and gains.
Once you get into owning your own business, doing RE, doing FSERs, Syndications you will meet more people who are like minded. Connections are very important. Working the PIT all your life connects you to essentially similar ER docs who just works the pits.