Bogleheads

EmergDoc

I have received a number of PMs from physicians who are interested in forming a physician-chapter/interest group to address some of the unique issues common to the financial aspects of being a physician. Some of these include:

1) Starting financial life in a big hole ($50-250K in student loans)
2) Minimal income until later in life/inability to begin saving early
3) Instant jump to high tax brackets
4) Dealing with otherwise intelligent colleagues who know little to nothing about investing
5) Asset protection issues (Newsflash! People like to sue doctors.)
6) Practice management issues
7) Disability/Life insurance issues

I don't know if we'll ever be able to meet personally (although perhaps we could do it as a side-event at a regular diehards reunion) but please reply if you are interesting in joining/discussing these issues. Maybe Mel will even bestow an official chapter number on us.

I would even be open to allowing other professionals with similar financial issues to join-Podiatry and Dentistry come to mind off the top of my head.
_________________
1) Invest you must 2) Time is your friend 3) Impulse is your enemy
4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

Mel Lindauer

sbisheff · Joined: 01 May 2007 Posts: 2

I'd be happy to participate.

Me: ER physician
Where: Coastal California
Age:37
Expertise in finances: very little, but learning. Invested in index funds Vanguard, attempting to obtain good asset allocation/etc.

Thanks!

nick22 · Joined: 04 Mar 2007 Posts: 815 Location: Ohio

Good idea. Count me in. (age 35, pediatric pulmonary and sleep medicine, Cincinnati).

I assume LH would be in too. He organized our local chapter and is, I believe, and ER phycician in his late 30s.
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Nick22

anesdoc · Joined: 05 Apr 2007 Posts: 6

I'd certainly be interested as well and would help set up if necessary. I'm mid 30's, split time between anesthesia and pain management, and have been out of residency/fellowship for 5 yrs.

wenzee · Joined: 13 Mar 2007 Posts: 24 Location: North Carolina

Count me in. I am an anesthesiologist who has been interested in this board for five years. I survived the great boom and bust of the last ten years, and have worked hard at getting my asset allocation right, despite having numerous accounts in taxable, and tax sheltered investments. Don't I wish we could have a Roth account!
Wenzee

MitchL · Joined: 20 Feb 2007 Posts: 49 Location: Minneapolis

Me too.
read often, post infrequently...

Good luck overseas, EmergDoc.

johnoutk · Joined: 06 Mar 2007 Posts: 282

I'd like to join. Anesthesiologist in the midwest in a university hospital. Have been doing a lot of reading and learning about investing and feel like I'm getting a decent grasp on it. Had to extricate myself from an Ameriprise financial planner, but I'm doing much better now. Laughing

Karan · Joined: 27 Feb 2007 Posts: 8

Count me in.
I have been a long time lurker (on our sister website and now here). Stumbled on to diehards one lucky day when fool.com had just became a paid site. I don't post much as I don't feel confident enough to guide others on investments. I trust vanguard (and only vanguard) with my investments.

Karan
Internist east of Atlanta.

penumbra · Joined: 29 Mar 2007 Posts: 51

Radiologist, coastal CA, well along on the investing continuum, made most the the mistakes already (I hope).

SteveD · Joined: 16 May 2007 Posts: 41

I'd like to participate. I'm an academic neurosurgeon in the Northeast in the mid- to late accumulation stage, but with three young kids, who started lurking about a year ago, and now I am trying to straighten out some early investing miscues.
Steve

strafe · Joined: 03 Mar 2007 Posts: 373 Location: Durham, NC

I'd like to join. Am still in medical school, but that will soon change. Very Happy

I guess that puts me in the enviable position of figuring these things out young.

Mel Lindauer · Posted: Mon May 28, 2007 8:44 am Post subject: Diehards Doctors

Hi EmergDoc:

Looks like you've got critical mass! Now all you need to do is tell me who will be the Chapter coordinator and provide the following:

1. The name of the Chapter coordinator
2. The e-mail contact for the coordinator (suggest this be a Yahoo or Hotmail e-mail specifically for this group so you don't have to expose your actual e-mail address on the Internet).
3. The name of your group (Diehards Doctors, Diehards Physicians, Diehards Medical Professionals, or something else?)

Once I have that information, I'll add your national group to the Diehards Local Chapters Map and you'll be in business. http://www.lostsprings.com/diehards/chapters/

You can use this Forum's Diehards Local Chapters Forum to discuss your affairs and to keep in touch with each other.

Good luck and best regards to all,

Mel

jayhawk05 · Joined: 27 May 2007 Posts: 1

I also would like to participate. I am currently in dental school but it's never too early to start thinking about different options.

LarryG · Joined: 11 Mar 2007 Posts: 126

I would be interested in joining even though I am a retired physician.

Larry G.

vbobba · Joined: 28 May 2007 Posts: 1 Location: CA

Hi EM doc, I think this is a great idea and I will be willing to participate. Most of us though on this forum have probably more financial savvy than the bulk of the docs not visiting this site. I would like to see how we can spread the word to those who dont visit this site. Idea

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Financial Security through Financial Planning

Rajsx · Joined: 21 Mar 2007 Posts: 63 Location: Florida

Hi EMERG DOC,

It is a good idea, a lot of common issues involved.

51yrs, Non Invasive Cardilogy & Int. Medicine, Started Practice Late at 37

Rugularly visit this forum, learnt a few things, but lot more to learn.

Not sure, whether I can advice others. All investments in Vanguard

Mutual Funds.

Regards

markh · Joined: 22 Apr 2007 Posts: 215

Count me in.

50 yr old AIDS/Pain/Addiction specialist in Beverly Hills, CA

Great idea!

mark

jgreenmd · Joined: 28 May 2007 Posts: 8 Location: Connecticut

Emergdoc...
I am invasive cardiologist in Northeast...3 years in practice. Have some money to invest, two young kids (with 529's), found site by reading bogleheads guide to investing and have both taxable and nontaxable accounts (I do contribute to nondeductible IRA hoping to convert in 2010...not sure if this is right thing to do)

Will take all advice and hope eventually to give some.
Thanks

jiclemens · Joined: 03 Mar 2007 Posts: 30 Location: North Augusta, SC

partner is nearing retirement as pediatrician in coastal northern CA.

redymed · Joined: 28 Feb 2007 Posts: 26

Internist in Alabama, Wife is doc too, One child , another on the way, turning 37

robiu977 · Joined: 29 May 2007 Posts: 31

I am definitely interested. I am 29, about to start my anesthesia residency in the midwest. Thanks!

Joe H · Joined: 29 May 2007 Posts: 12

Interested - infrequent poster been around diehards for years.

Live in Gulf South - Physician mid career.

Thanks EmergDoc for your many contributions.

Joe H

lucky7 · Joined: 13 Mar 2007 Posts: 359

I am in NJ. Emerg doc where are you located?
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Scotty, beam me up.

Rudie · Joined: 28 May 2007 Posts: 4

I am interested. Occupational medicine doc in the midwest.
Thanks.

pleezd · Joined: 29 May 2007 Posts: 16

32, Chicago, Radiologist

lurking, and getting my feet wet over the last year or two. Would love to be a part of this!

cbrad · Joined: 30 May 2007 Posts: 7

Also interested - 30 yo radiology resident in Fla with two more years of training.

LFT_PFT · Joined: 28 May 2007 Posts: 219

Wife is an OBGYN in Southwest. I am a regular lurker and would also like to participate.

robiu977 · Joined: 29 May 2007 Posts: 31

I am new to this board. Where do we post questions, advice, tips ...? Thanks if anyone can answer that for me.

Laura · Joined: 19 Feb 2007 Posts: 4717

robiu977,

You would post investing questions in the investing sub-forum. If you have off topic items to discuss then the OT forum is the best. There are local groups so if you want to contact them then this forum on the local chapters is your best option. For technical forum questions on "how to" then there is a special sub-forum for that as well.

Welcome and we look forward to more of your posts.

Laura

paulob · Joined: 20 Feb 2007 Posts: 1223

Interesting, a lot of the replies are the 1st or 2nd post made.

By the way, I'm an accountant. If I join this user group, can I wear scrubs to work?
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Paul

Mel Lindauer · Posted: Wed May 30, 2007 6:42 pm Post subject:

EmergDoc · Posted: Wed May 30, 2007 7:36 pm Post subject:

It is good to see so many people "jumping on the bandwagon." I didn't realize just how many docs there were on here, and I'm sure this is only a small fraction. Two issues remain...1) Who wants to be the official leader? (trust me, I have more than enough leadership opportunities in my life right now) and 2) What exactly do we want to do as a "chapter." The other chapters provide an opportunity to get together with a handful of diehards without flying across the country to do so. Any ideas?
_________________
1) Invest you must 2) Time is your friend 3) Impulse is your enemy
4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

sunshinebottom · Joined: 22 May 2007 Posts: 13

Lurker--came to here from fool discussion boards. 52 year old family practice rural Nebraska. Count me in.

kaveman · Joined: 01 Mar 2007 Posts: 3

Count me in. A couple of years out of training as a neurologist. Wife is family practice as well. I've mostly lurked for the past year.

kv

paulob · Joined: 20 Feb 2007 Posts: 1223

Mel Lindauer · Posted: Thu May 31, 2007 7:59 am Post subject:

WiseNLucky · Joined: 13 Mar 2007 Posts: 634 Location: South Florida

Ranger · Joined: 20 Feb 2007 Posts: 3

Count me in

My wife is a doc here in florida.

But I follow this site religiously from past 1 year

thx

twalkabout · Joined: 31 May 2007 Posts: 1

Count me in too. 32 y.o. EM doc in NJ, moving to Texas. Not yet a year out of residency. I've got a solid $5,000 in savings and a mere $300,000 in debt. Good times. Just found this forum today. Will be setting up and maxing a SEP-IRA at my new job, probably will use Vanguard.

Penguin · Joined: 03 Mar 2007 Posts: 37

I would like to join also. I think physicians may have special needs and interests. I just retired after practicing Internal Medicine for 35 years. Am I still eligible?
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Jon

NeonatalDoc · Joined: 31 May 2007 Posts: 1

Let me join in as well as a frequent "Guest" who is very interested. I'm a neonatology fellow in the southwest, 29 years of age. Wife is a doc as well. Working on eliminating debt and building up savings!

family_doc · Joined: 10 Mar 2007 Posts: 44

Family doc for 27 years in western Pennsylvania.

Retiring in 38 days!

Enough of the rat race!

Perhaps may offer perspectives to accumulators on the forum

Interested in joining

family_doc

fundtalker123 · Joined: 27 Feb 2007 Posts: 285

My wife is finishing residency this year. Although she is not much interested right now in financial matters or investments, I'd be interested in following doc-related matters discussed by Bogleheads. I had posted previously a question on disability insurance and recieved many helpful replies from docs on this board:

http://www.diehards.org/forum/....highlight=

robiu977 · Joined: 29 May 2007 Posts: 31

veeru99 · Joined: 05 Apr 2007 Posts: 30 Location: Connecticut

Count me in. Doc in Internal medicine, Connectcut. I am not a first timer Smile

veeru

henry · Joined: 16 Mar 2007 Posts: 41

Wow, quite a few doctors on this board. I'll chime in too.

I'm 32 and trained in internal medicine. I have lurked on this board for a year and learned a lot. Like some others, I haven't posted much since investing has been a relatively new to me but I hope to participate more in discussions in the future.

jgreenmd · Joined: 28 May 2007 Posts: 8 Location: Connecticut

so does everybody just keep posting that they will join the chapter? What actually happens once one "joins"...how do I know if I am in?...do we have chapter meetings online?...who develops an agenda?...sorry i have so many questions, i just don't know where we go from here...and what i can do to help.

wmp · Joined: 26 Feb 2007 Posts: 10 Location: Pensacola, FL

Count me in. Wife is a FP doc in the Navy.

EmergDoc · Posted: Sat Jun 02, 2007 6:58 pm Post subject: