Search found 29 matches

Return to advanced search

Re: Academics vs Private Practice (Physician)

Well right now, people going into anesthesia express concern that the anesthesiologist business model is being reconfigured for the worst due to the influx of CRNAs. In general, CRNAs can handle most basic surgical cases for half the price of an anesthesiologist. What I've seen in my training thus f...
by newdoc
Sun May 12, 2013 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Academics vs Private Practice (Physician)
Replies: 20
Views: 2223

Re: Academics vs Private Practice (Physician)

I'll add that the applications to radiology residency programs were down roughly 25% this year, (from when I don't know). I think nowadays, medical students are anticipating the shrinking market for radiologists, and certainly the shrinking reimbursements. There is even an urban legend amongst medic...
by newdoc
Sun May 12, 2013 7:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Academics vs Private Practice (Physician)
Replies: 20
Views: 2223

Re: Medical Resident: When Should I Get Disability Insurance

I'm confused on one point, which is why this is a special issue for M.D.s. I'm in the software industry, and while larger companies may offer disability insurance as a fringe benefit, smaller companies don't bother and I expect very very few software engineers think about purchasing disability insu...
by newdoc
Fri May 10, 2013 6:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Medical Resident: When Should I Get Disability Insurance

I wish you and and your wife good luck in all this. I see what you're saying and it's perfectly logical. But bringing up highly unlikely catastrophic events is what the insurance sellers have done with me as well: Of course it's possible that something bad might happen. But statistically, it's almo...
by newdoc
Tue May 07, 2013 6:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Medical Resident: When Should I Get Disability Insurance

What I'm saying is that, given my age, my level of health, my medical history, my family medical history and my health practices, the chance of my health declining significantly in the near future is miniscule at best. My wife was denied disability insurance outright, and she is in PERFECT health. ...
by newdoc
Tue May 07, 2013 5:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Medical Resident: When Should I Get Disability Insurance

What I'm saying is that, given my age, my level of health, my medical history, my family medical history and my health practices, the chance of my health declining significantly in the near future is miniscule at best. And while certainly possible, I'm willing to bet that it won't...at least for a ...
by newdoc
Tue May 07, 2013 4:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Medical Resident: When Should I Get Disability Insurance

I see, but the thing most likely to happen to my health status at this point is: nothing. Even if I somehow did wind up claiming disability, perhaps for a broken bone or a bout of depression, I would most likely be out of work for a couple of months at best. In any of these circumstances, I'd be ab...
by newdoc
Tue May 07, 2013 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Medical Resident: When Should I Get Disability Insurance

So, I think I'm going to wait just a couple of years to get the insurance. The coverage that I can afford right now is just not much more than what I could depend on my family for in the unfortunate event of sustaining a disability. And as a young, fit male in excellent health, I'm comfortable, for...
by newdoc
Tue May 07, 2013 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Medical Resident: When Should I Get Disability Insurance

So, I think I'm going to wait just a couple of years to get the insurance. The coverage that I can afford right now is just not much more than what I could depend on my family for in the unfortunate event of sustaining a disability. And as a young, fit male in excellent health, I'm comfortable, for ...
by newdoc
Tue May 07, 2013 1:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Taking Parent's Car to Chicago to Save on Car Fees/Insur

OP, if you name new doc means you are a new doc, I "hate" to see you talking this way. Don't look for loopholes, ways to avoid some fees, etc as ONE big mistake can bankrupt you. I resent the implication that I'm somehow being dishonest or willing to engage in illegal/illicit activities. ...
by newdoc
Mon May 06, 2013 11:59 pm
 
Forum: Personal Consumer Issues
Topic: Taking Parent's Car to Chicago to Save on Car Fees/Insurance
Replies: 18
Views: 1173

Re: Taking Parent's Car to Chicago to Save on Car Fees/Insur

Well, the car is a few steps away from being a lemon; while it'll do for now, if anything happens to it I'll just get a new one. The insurance really is just to say I have insurance. Should I still bite the bullet and get my own? If so: I do indeed have a few speeding tickets from just under 3 years...
by newdoc
Sun May 05, 2013 8:54 pm
 
Forum: Personal Consumer Issues
Topic: Taking Parent's Car to Chicago to Save on Car Fees/Insurance
Replies: 18
Views: 1173

Re: Medical Resident: When Should I Get Disability Insurance

I just read through the whitecoatinvestor.com articles. It sure is complicated, but my fundamental question is this: Can I, as a 1st-year resident physician, continue to go without disability insurance under the assumption that my health will probably go unchanged in the near future? Or is this a si...
by newdoc
Sun May 05, 2013 8:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Medical Resident: When Should I Get Disability Insurance

Hello, So, towards the end of med school, a lot of schools have financial advisers come in to educate the students. One of the things we've been advised to do is get disability insurance during residency. In doing so, we can fix our rates, which are usually some percentage of current income, at a pr...
by newdoc
Sun May 05, 2013 7:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Resident: When Should I Get Disability Insurance
Replies: 80
Views: 3607

Re: Taking Parent's Car to Chicago to Save on Car Fees/Insur

mlipps wrote:At the least, if you plan to park on the street regularly, you'll still need a city sticker. And if you live in an area with permit parking & try to get one for out of state plates I suspect it will not work.


My parking situation is taken care of. I will not be street parking anywhere.
by newdoc
Sun May 05, 2013 7:04 pm
 
Forum: Personal Consumer Issues
Topic: Taking Parent's Car to Chicago to Save on Car Fees/Insurance
Replies: 18
Views: 1173

Taking Parent's Car to Chicago to Save on Car Fees/Insurance

Hello, More issues with my move to Chicago: I'm just wondering if there's anything keeping my from using a car registered in my parent's name while in Chicago. Would I be able to avoid paying those Chicago car fees by just maintaining that out-of-state registration under my parent's name? Furthermor...
by newdoc
Sun May 05, 2013 6:51 pm
 
Forum: Personal Consumer Issues
Topic: Taking Parent's Car to Chicago to Save on Car Fees/Insurance
Replies: 18
Views: 1173

Re: Max Out New Roth IRA or Pay Off Loan with 7.25% Interest

Also, I've recently heard that the benefits of the Roth are overstated, particularly for physicians, who do have unusual financial circumstances and who make large leaps in income tax brackets over a short period of time. Can someone explain what the negatives of having a Roth might be for someone ...
by newdoc
Wed Apr 10, 2013 10:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Max Out New Roth IRA or Pay Off Loan with 7.25% Interest
Replies: 22
Views: 3765

Max Out New Roth IRA or Pay Off Loan with 7.25% Interest

Hello, I'm a soon-to-be doctor who will be moving to Chicago to begin my advanced training in a surgical specialty, and I'm just trying to get my finances in gear. A few questions: 1. Is it smarter to open and max out a Roth IRA my first year or to aggressively pay down a loan of $13,000 with an int...
by newdoc
Wed Apr 10, 2013 9:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Max Out New Roth IRA or Pay Off Loan with 7.25% Interest
Replies: 22
Views: 3765

Re: New Doctor: Rent or Buy Home in Chicago?

Wow, this forum is the best! Everyone knows so much about everything, and it's really focused on the exchange of useful information. I've found this to be a trend amongst business/finance-oriented people. Anyway, after a few days of research, I've decided that I'm going to get a roommate and rent a ...
by newdoc
Sat Mar 23, 2013 5:29 am
 
Forum: Personal Consumer Issues
Topic: New Doctor: Rent or Buy Home in Chicago?
Replies: 47
Views: 2841

Re: New Doctor: Rent or Buy Home in Chicago?

Thanks for the discussion everyone! I think I'm going to rent. For someone with a pretax income of roughly $50K, how much can I reasonably spend on housing?
by newdoc
Tue Mar 19, 2013 5:14 pm
 
Forum: Personal Consumer Issues
Topic: New Doctor: Rent or Buy Home in Chicago?
Replies: 47
Views: 2841

Re: Broke New Doctor Needs New Car! How?

I think I'm going to go ahead a take out a $15K loan for a car. I'll try to see if I can find something for maybe $10-12K, and spend perhaps the next 3 years aggressively paying it down. Even though my credit score is great, my ability to take out loans is impeded by my massive debt-to-asset ratio a...
by newdoc
Tue Mar 19, 2013 5:12 pm
 
Forum: Personal Consumer Issues
Topic: Broke New Doctor Needs New Car! How?
Replies: 59
Views: 4338

Re: Broke New Doctor Needs New Car! How?

Well, I'll definitely need a car since I'll be commuting to multiple hospitals. Roughly how cheap can I get a robust one that I can count on to last 5-6 years? $5K? More? Less?
by newdoc
Tue Mar 19, 2013 8:12 am
 
Forum: Personal Consumer Issues
Topic: Broke New Doctor Needs New Car! How?
Replies: 59
Views: 4338

Re: New Doctor: Rent or Buy Home in Chicago?

Are you doing a proper comparison? Is the same or similar condo that costs $250K to buy rent at $2K/month? Rental yield = 9.6%. I would be surprised if this is true. Absolutely. According to realtor.com, there are some great condos in Lincoln Park, a very desirable part of Chicago selling for aroun...
by newdoc
Sun Mar 17, 2013 10:29 pm
 
Forum: Personal Consumer Issues
Topic: New Doctor: Rent or Buy Home in Chicago?
Replies: 47
Views: 2841

Re: New Doctor: Rent or Buy Home in Chicago?

Are you doing a proper comparison? Is the same or similar condo that costs $250K to buy rent at $2K/month? Rental yield = 9.6%. I would be surprised if this is true. Absolutely. While this is by no means necessarily reflective of the average, there are indeed many great condos in Lincoln Park, a ve...
by newdoc
Sun Mar 17, 2013 10:17 pm
 
Forum: Personal Consumer Issues
Topic: New Doctor: Rent or Buy Home in Chicago?
Replies: 47
Views: 2841

Re: New Doctor: Rent or Buy Home in Chicago?

A new definition of "livable"? A smaller apartment? You're going to be working very long hours, and living in a major U.S. metro. How much time are you going to be spending in your residence, really? Get a cheaper apartment - a studio or share - instead of spending $2000+ a month, would b...
by newdoc
Sun Mar 17, 2013 10:09 pm
 
Forum: Personal Consumer Issues
Topic: New Doctor: Rent or Buy Home in Chicago?
Replies: 47
Views: 2841

Re: New Doctor: Rent or Buy Home in Chicago?

I'm almost fully convinced to go the rental route. Just to be sure, with regards to all the dismal scenarios of home-buying, here's my thinking: If I rent a livable apartment, I'd be probably paying around $2000 per month. After 5 years (60 months), that's $120,000. If I buy a condo using a $250,000...
by newdoc
Sun Mar 17, 2013 9:38 pm
 
Forum: Personal Consumer Issues
Topic: New Doctor: Rent or Buy Home in Chicago?
Replies: 47
Views: 2841

New Doctor: Rent or Buy Home in Chicago?

Hi, I'm just finishing medical school, and I'll be starting my specialty training in July in Chicago where I"ll be for the next 5 years. I have a plan to buy a home using a physician's loan (no down payment) of about $200-250K with a 7-ARM. I'd like to sell it at the end of the 5 years for a po...
by newdoc
Sun Mar 17, 2013 6:25 am
 
Forum: Personal Consumer Issues
Topic: New Doctor: Rent or Buy Home in Chicago?
Replies: 47
Views: 2841

Re: Broke New Doctor Needs New Car! How?

mike143 wrote:My go to brand is Honda, people will argue all different directions. Myself and others are fond of Pentagon Federal, previously offered 1.49%, currently 1.74%.


But don't you have to be affiliated with the Pentagon in some way, or can I just show up and apply for a car loan?
by newdoc
Wed Mar 13, 2013 11:09 pm
 
Forum: Personal Consumer Issues
Topic: Broke New Doctor Needs New Car! How?
Replies: 59
Views: 4338

Re: Broke New Doctor Needs New Car! How?

Is a Ford Focus reliable? Any ideas as to where exactly to go for a car loan?
by newdoc
Wed Mar 13, 2013 11:00 pm
 
Forum: Personal Consumer Issues
Topic: Broke New Doctor Needs New Car! How?
Replies: 59
Views: 4338

Broke New Doctor Needs New Car! How?

Hi, New poster here. I will be graduating medical school in a few short months and beginning my specialty training this summer. As you can imagine, I am completely broke. My beloved clunker of 5 years has finally given up on me, and I am car-less. I must have a new car to get to/from the hospital, a...
by newdoc
Wed Mar 13, 2013 9:28 pm
 
Forum: Personal Consumer Issues
Topic: Broke New Doctor Needs New Car! How?
Replies: 59
Views: 4338

Return to advanced search