Search found 28 matches

Return to advanced search

Re: New Attending Physician Tomorrow Advice?

How was your first day? Thank you all so much for the words of wisdom and the advice. I read each post carefully. As for my first day - it went great! Thanks for asking. Things are definitely different without the "safety net", but I am excited about the change and looking forward to the ...
by dreamjob9
Sat Jul 05, 2014 8:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Attending Physician Tomorrow Advice?
Replies: 17
Views: 2282

New Attending Physician Tomorrow Advice?

Welp, 15 years of hard work, looking forward to this moment is realized tomorrow. Does something magical occur while I sleep tonight? I know this wonderful forum contains many attending physicians - any advice you can give for one whom is just starting out? Do you remember your first day?
by dreamjob9
Mon Jun 30, 2014 9:31 am
 
Forum: Investing - Help with Personal Investments
Topic: New Attending Physician Tomorrow Advice?
Replies: 17
Views: 2282

Short & Long Term Goals (? What road to take)

I am 33 and the wife is 30. We have two children a newborn and a 2 year old. We know what we would like to accomplish over the next 18 years until our children leave home. We would like to pay off all debt, save for childrens college, purchase a vacation home and save for retirement. My question is ...
by dreamjob9
Sun May 25, 2014 9:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Short & Long Term Goals (? What road to take)
Replies: 1
Views: 342

Age-Expenses-Number

There have been tons of topics discussing safe withdrawal rates and retirement number based on salary. How about a single thread where people list 3 things only. 1. Current age and projected age. 2. Current annual expenses 3. Retirement #. I will go first. 1. Age 33 (47 projected retirement age) 2. ...
by dreamjob9
Sun Feb 02, 2014 11:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Age-Expenses-Number
Replies: 3
Views: 438

Re: Home buy - Now or later (Big salary increase)

Thanks everyone for the advice. We bought a house. Not quite 600k more like 500k. I feel good about it, although having 680k in debt is kinda scary. But, the wife is happy and her unhappy is MORE scary (j/k!).
by dreamjob9
Sat Jan 18, 2014 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home buy - Now or later (Big salary increase)
Replies: 32
Views: 3768

Re: Home buy - Now or later (Big salary increase)

Does the fact that we have qualified for a 0% down no PMI loan at 3.5 % 5/1 ARM or 4.25% 30 year fix change things? My wife really wants to buy the dream home now (600-700k). I'm a little nervous.
by dreamjob9
Tue Jan 14, 2014 4:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Home buy - Now or later (Big salary increase)
Replies: 32
Views: 3768

Re: Home buy - Now or later (Big salary increase)

Buying dream home now is reasonable, but may result in more risk (smaller down payment-higher rate jumbo loan +/- PMI, larger ancillary expenses -maintenance, furnishings, etc) with overall modest cost savings (avoid additional moving costs, immediately begin paying mortgage/building small amount o...
by dreamjob9
Sun Nov 10, 2013 2:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home buy - Now or later (Big salary increase)
Replies: 32
Views: 3768

Re: Home buy - Now or later (Big salary increase)

Thank you for the advice. I completely agree with you that things don't always turn out the way they seem. With that being said, I have been working at the same place I will stay at. I am confident that I will be happy here. I have several radiologist friends. Their "things don't always turn o...
by dreamjob9
Sun Nov 10, 2013 10:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Home buy - Now or later (Big salary increase)
Replies: 32
Views: 3768

Re: Home buy - Now or later (Big salary increase)

I don't think there's any reason to buy a short term home under the circumstances you describe. Rent a house until you are sure you like the new job (at least a year). Things don't always turn out the way they seem. I'm assuming you are a physician? (Edit: Just saw in another post that you are a ra...
by dreamjob9
Sun Nov 10, 2013 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Home buy - Now or later (Big salary increase)
Replies: 32
Views: 3768

Re: Home buy - Now or later (Big salary increase)

letsgobobby wrote:How old are you, and how stable is the work?


I'm 32 - Wife is 30. Both jobs are pretty darn stable.
by dreamjob9
Sun Nov 10, 2013 10:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Home buy - Now or later (Big salary increase)
Replies: 32
Views: 3768

Home buy - Now or later (Big salary increase)

My wife and I just found out that we will be staying in the city we live in for the forseeable future. I have signed a contract and my salary will dramatically increase. My question is should we buy a house now (June) or wait for a few years? Ultimately, the dream home we would like will cost apprx ...
by dreamjob9
Sun Nov 10, 2013 10:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Home buy - Now or later (Big salary increase)
Replies: 32
Views: 3768

Re: Passive loss used for Roth conversion??

Question.... Can I convert the 403b to a IRA to a Roth IRA and use the passive loss on the rental property to offset the taxes for the conversion? Thanks! To the extent a conversion to a Roth IRA creates taxable income, that income item is a component of adjusted gross income. Any item of loss that...
by dreamjob9
Sun Jul 28, 2013 8:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Passive loss used for Roth conversion??
Replies: 4
Views: 393

Passive loss used for Roth conversion??

My wife and I sold a rental property this year for 140k. We bought the house in 2006 for 168k. As I understand it we have apprx 25k in passive loss carry forward. I understand we will need to recapture depreciation. Additionally, I have 28k in a 403b from a job I recently left. Question.... Can I co...
by dreamjob9
Sun Jul 28, 2013 4:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Passive loss used for Roth conversion??
Replies: 4
Views: 393

Re: Academics vs Private Practice (Physician)

Thank you all for your advice. I think my plan will be to apply to both type of practices and hopefully obtain atleast 1 or 2 offers. Then way all circumstances and make a decision. If anyone else has any opinions on advantages/disadvantages of private practice vs employee model (i.e. academics), pl...
by dreamjob9
Thu May 16, 2013 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Academics vs Private Practice (Physician)
Replies: 20
Views: 2324

Academics vs Private Practice (Physician)

I am just finishing my residency in radiology and pursuing a 1 year fellowship in a subspecialty of radiology (pediatrics). Within the next couple of months, I will begin looking for a "real job". The job market in radiology is much tighter than when I started my residency. I am uncertain ...
by dreamjob9
Sun May 12, 2013 2:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Academics vs Private Practice (Physician)
Replies: 20
Views: 2324

Re: Can I retire?

Thank you all for your comments so far. You've identified a few things that I need to investigate in more detail. The absence of a consensus or majority opinion from this educated forum of people saying "you are insane" gives me a good deal of comfort. I can adjust expenses downward, make...
by dreamjob9
Sun May 12, 2013 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I retire?
Replies: 78
Views: 7929

Re: Converting from Rental to Owner Occupied

I now see from the not-so-old thread that the property used to be the OP's principle residence. This may fit Example 1 on page 15 of Pub 523, if the property meets the 2 yr out of 5 yr rule. However, if the property will have been rented out for 3 years or less the OP should heed Example 2 and cons...
by dreamjob9
Sat Apr 06, 2013 8:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Converting from Rental to Owner Occupied
Replies: 24
Views: 2810

Re: Converting from Rental to Owner Occupied

Great discussion. Let me throw in another kicker. I will be living in the house from June 1st 2013 to July 1st 2014. Although, that is only one calendar year it overlaps considerable with both 2013 and 2014 tax years. Could this qualify as 2 years, thus eliminate the 25% taxes on recapture of deprec...
by dreamjob9
Thu Apr 04, 2013 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting from Rental to Owner Occupied
Replies: 24
Views: 2810

Re: Converting from Rental to Owner Occupied

Doesn't matter, you have a loss anyway, so no worries about paying capital gains taxes. Is there a claimable loss there? Hmmm...good question. Per Pub 523 you can't sell your home for a loss and claim it. I'm still looking for whether that changes if it was an investment property a year sooner. I'm...
by dreamjob9
Thu Apr 04, 2013 4:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting from Rental to Owner Occupied
Replies: 24
Views: 2810

Re: Converting from Rental to Owner Occupied

To covert a property from non-qualified to qualified you will need to use the property as your principle residence for a minimum of two years out of the last five that you own it. So if you sell after one year you are not going to be able to claim qualified treatment for the property. Therefore you...
by dreamjob9
Wed Apr 03, 2013 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting from Rental to Owner Occupied
Replies: 24
Views: 2810

Re: Converting from Rental to Owner Occupied

I'm confused. Didn't you ask essentially the same question a few days ago? Anyway, my advice is the same. No, Confused is someone else completely: http://www.bogleheads.org/forum/memberlist.php?mode=viewprofile&u=38087 No, john is right. There was another thread a few days ago. http://www.bogle...
by dreamjob9
Wed Apr 03, 2013 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting from Rental to Owner Occupied
Replies: 24
Views: 2810

Converting from Rental to Owner Occupied

I am considering converting my rental property to owner occupied because we are moving back to the location of our rental property. Can anyone please explain the tax implications of such a move? We carried a 20k loss on the property for our 2012 taxes. Additionally, we will likely sell the house aft...
by dreamjob9
Wed Apr 03, 2013 3:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting from Rental to Owner Occupied
Replies: 24
Views: 2810

Re: Move into rental property? I need your advice.

I think the HARP 2.0 program can also be used for a rental home that is underwater. That's originally what I was looking into... until I looked and realized mine was a FHA loan. Doh!! OP, I will send you a PM with my rfi contact's info. Maybe they work with the HARP program also? Worth a shot. Than...
by dreamjob9
Sun Mar 31, 2013 9:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Move into rental property? I need your advice.
Replies: 13
Views: 1463

Re: Move into rental property? I need your advice.

Or you can simply move out and probably rent it and be almost cash flow positive with the lowered rate. Sometimes the advice given on a website can be with good intentions, but awfully bad advice if followed. The OP would have to read the loan docs to determine 1) if there is a certain period of ti...
by dreamjob9
Sun Mar 31, 2013 1:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Move into rental property? I need your advice.
Replies: 13
Views: 1463

Re: Move into rental property? I need your advice.

Thank you guys. The house is a Fannie mae/Freddie Mac backed mortgage. We purchased the home BEFORE 2009. I have had zero luck with qualifying through the HARP 2.0 program with our current loan servicer Greentree. My plan was to move back into the home in June 2013. At that point attempt to qualify ...
by dreamjob9
Sun Mar 31, 2013 12:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Move into rental property? I need your advice.
Replies: 13
Views: 1463

Re: Move into rental property? I need your advice.

Thank you for the replies.

Does anyone know what the tax implications are of moving into a rental property. Additionally, should I factor in the savings from being able to write off the mortgage interest? Something that I believe has been going to passive losses.
by dreamjob9
Sun Mar 31, 2013 10:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Move into rental property? I need your advice.
Replies: 13
Views: 1463

Move into rental property? I need your advice.

Hi, I appreciate so much all of the information on this fantastic site! My questions are in regards to our rental home. About me: starting a 1 year fellowship in july 2013. Finishing medical residency in june 2013. Project that my income will increase ~4 x starting in july 2014. Our jobs are stable....
by dreamjob9
Sun Mar 31, 2013 12:08 am
 
Forum: Investing - Help with Personal Investments
Topic: Move into rental property? I need your advice.
Replies: 13
Views: 1463

Buying term life insurance for dummies?

I am looking to buy term life insurance for my wife and I. Healthy 32 and 30 year olds. Looking for 2M for me and 1M for wife both 30 years. My question: How do I go about this? I have researched companies recommended on this website (Banner, SBLI, etc.)... Now what? I contacted SBLI and they sent m...
by dreamjob9
Fri Mar 29, 2013 3:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying term life insurance for dummies?
Replies: 1
Views: 363

Return to advanced search