Search found 128 matches

by Kencufc
Thu Sep 07, 2017 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Opening a medical office...Can it still be done?
Replies: 29
Views: 5351

Re: Opening a medical office...Can it still be done?

My wife (peds NP) just helped start a new private practice. They are doing well. The key points for them have been new technology making EMR, billing, payroll, scheduling etc all online and seamless. Also, they setup the practice to have low overhead so they have a lot of room in their financial pic...
by Kencufc
Mon Sep 04, 2017 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Renting during residency
Replies: 12
Views: 1260

Re: Renting during residency

I valued my peace and quiet in med School as well as residency. I bought a house in residency. Buying turned out to be not such a great idea. For now, surely your living expenses are high. However, you're golden going forward. No student debt...who cares what it costs to rent an apartment!!! Do what...
by Kencufc
Mon Aug 28, 2017 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 6017

Re: Bad Idea to Have Zero Credit Cards?

Before we got on the BH bandwagon and got our finances in order, we performed the Dave Ramsey plastic surgery; cutting up all our credit cards and cancelling the accounts. We used a debit card for about a year and started to live on a budget. Once we became more disceplined, we went back to a credit...
by Kencufc
Mon Aug 28, 2017 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

It annoys me that you are getting so many snarky responses and I almost feel the need to apologize on behalf of this community. You posted a reasonable question and deserved a reasonable answer. And yes, I know there are a few posts that can get under all of our skins ( we have 50 x expenses saved,...
by Kencufc
Mon Aug 28, 2017 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

If it makes you feel any better, I'm a physician two years out of training (but 4 years older than you), married to another physician, and we are in a worse financial situation than you primarily due to our large med school debt (about 600k, combined). We have similar or slightly more savings, and ...
by Kencufc
Mon Aug 28, 2017 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

You have similar numbers to me when I was your age (I'm 35 now). We make about the same (I'm a physician too). The only difference with me is that my debt was mostly in the form of student loans. My main house mortgage is a lot smaller though. But, my advice is to stay the course, get rid of the se...
by Kencufc
Mon Aug 28, 2017 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

I couldn't find where he said his loss would be that great. But regardless, it he does decide to become a landlord, that would be another reason he needs a huge umbrella policy, if he does not already have one. A tenant may just latch on to an opportunity to sue a wealthy doctor, unfortunately. I w...
by Kencufc
Mon Aug 28, 2017 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

The house does need some repairs and we had a buyer but he lost financing. All our equity is essentially gone since the market has depreciated and about $20k in repairs are needed. If we rent it, we will use property management. Nice thread title! I agree with others that you are doing well. As som...
by Kencufc
Mon Aug 28, 2017 8:21 pm
Forum: Personal Consumer Issues
Topic: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"
Replies: 139
Views: 21859

Re: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"

I live more frugally as an attending physician than as a resident. Had the beemer, ditched it. Country club membership, dropped it. Nice slacks and dress shirts, now I just wear scrubs about everyday. I bike to work about 75% of the time, scrubs fit better in my bike panniers. I basically faked it t...
by Kencufc
Fri Aug 25, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

Until the baby comes I would stash the extra $5k in the efund. Do you really only have 3 months expenses in cash savings? Losing your wife's income for 6 months or so won't hurt your bottom line too much. Also you mentioned your income would drop to be around home more after the baby's born. How so...
by Kencufc
Thu Aug 24, 2017 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Who Do You Trust for Disability/Life Insurance
Replies: 10
Views: 1061

Re: Who Do You Trust for Disability/Life Insurance

I have individual policies through Ohio National. Very competitive rates but shop around and use an independent agent. I got a 10% discount on my LTD when I bought $2M term policy.
by Kencufc
Thu Aug 24, 2017 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Is a Major House Remodel Worth It?
Replies: 21
Views: 2208

Re: Is a Major House Remodel Worth It?

I have decided to not treat my home as an investment. I consider it an expense. So anything I improve or add in my current home, to me, is just another expense. If you love your home, which sounds very reasonably priced although I know nothing about your financial situation, then make the repairs. ...
by Kencufc
Thu Aug 24, 2017 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Where to stash your emergency fund
Replies: 36
Views: 4069

Re: Where to stash your emergency fund

I'm a fan of muni funds, either bonds or money market. In higher tax bracket these are beneficial. However, the real benefit of emergency fund is knowing it's there. It buys you sleep and peace of mind. Not having an emergency fund in an investment enables you to access money in an instant and not ...
by Kencufc
Thu Aug 24, 2017 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

This won't be your average "look how well I'm doing but still tell me I'm doing great because I know I am" type post. Well, that's exactly what it is. So, you're telling us you make $340k combined, live in a LCOL, own two houses, have minimal student loans, and have a $5k or so a month cushion........
by Kencufc
Thu Aug 24, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

In general, I think you are doing Ok. Until the first house is sold or at least not a financial drain, I think I'd be content with saving a little less for retirement. Extra mortgage/baby coming/lowered income can be a bit of a squeeze. Better to maintain more flexibility for some months. I'll conv...
by Kencufc
Thu Aug 24, 2017 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

The house does need some repairs and we had a buyer but he lost financing. All our equity is essentially gone since the market has depreciated and about $20k in repairs are needed. If we rent it, we will use property management. Nice thread title! I agree with others that you are doing well. As som...
by Kencufc
Thu Aug 24, 2017 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

I agree that you will be in very good shape with some time (as long as you stay on track and don't inflate your lifestyle.....the home upgrade this early concerns me a little). I would definitely sell the first house. You don't want to deal with a rental as a busy doctor or carry it a long time loo...
by Kencufc
Thu Aug 24, 2017 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

I would be more concerned about your insurance situation (term life and disability) than anything. You are highly dependant on your future high income stream. Absolutely. I have an own occupation LTD policy covering $6k/month plus a group policy with 2 years own occupation that pays $4k or about th...
by Kencufc
Thu Aug 24, 2017 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

He's in the top 5% of income earners, yes, but I think his opening line in the post was more of a comment on how he is faring as compared to other bogleheads that ask "how am I doing?", then proceed to tell us they have $2M+ in investable assets and are looking for validation.... The OP is 32 years...
by Kencufc
Thu Aug 24, 2017 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

He's in the top 5% of income earners, yes, but I think his opening line in the post was more of a comment on how he is faring as compared to other bogleheads that ask "how am I doing?", then proceed to tell us they have $2M+ in investable assets and are looking for validation.... Yes exactly. Going...
by Kencufc
Wed Aug 23, 2017 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

I think you are doing quite well, like your investment approach. You have a big shovel so before you buy anything too fancy like a luxury car pay off your student loan is my advise. Somewhat shocking for a medical student that your loan was not more. Not sure I would want to be a landlord. I have h...
by Kencufc
Wed Aug 23, 2017 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

This won't be your average "look how well I'm doing but still tell me I'm doing great because I know I am" type post. I'm definitely doing ok but not where I'd like to be. I'm a doc 2nd year out of residency. Here's the real numbers. I'm 32, wife is 31. 2 yr old child and another due in December. I...
by Kencufc
Wed Aug 23, 2017 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Where to stash your emergency fund
Replies: 36
Views: 4069

Re: Where to stash your emergency fund

I'm a fan of muni funds, either bonds or money market. In higher tax bracket these are beneficial. However, the real benefit of emergency fund is knowing it's there. It buys you sleep and peace of mind. Not having an emergency fund in an investment enables you to access money in an instant and not f...
by Kencufc
Wed Aug 23, 2017 9:52 pm
Forum: Personal Consumer Issues
Topic: Used True SUV recommendations
Replies: 17
Views: 1456

Re: Used True SUV recommendations

I think 4Runner is the leader in the group. Had a friend who worked for Toyota. 4Runner and Camry had similar longevity and reliability according to the data he had collected.
by Kencufc
Wed Aug 23, 2017 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Employer reimbursement for plugin hybrid charge cost?
Replies: 14
Views: 1323

Re: Employer reimbursement for plugin hybrid charge cost?

Sit down and talk with them. Megacorp probably doesn't care and w not bend the rules. Private family corp might give you an exception. Otherwise, it may be more economical for you to get a hybrid rather than straight electric so you at least get some reimbursement.
by Kencufc
Wed Aug 23, 2017 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Re: Sigh...I'm ready for criticism...how am I doing?

Pay off your entire student loan, should be easy for you. What are you investing your invest-able money in? Asset allocation %Stocks, %bonds? Low expense ratio Index funds? Everything is in low cost index funds. AA is about 70/30 with 30% of stocks international. Emergency fund is in a vanguard mun...
by Kencufc
Wed Aug 23, 2017 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Is a Major House Remodel Worth It?
Replies: 21
Views: 2208

Re: Is a Major House Remodel Worth It?

I have decided to not treat my home as an investment. I consider it an expense. So anything I improve or add in my current home, to me, is just another expense. If you love your home, which sounds very reasonably priced although I know nothing about your financial situation, then make the repairs. A...
by Kencufc
Wed Aug 23, 2017 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6621

Sigh...I'm ready for criticism...how am I doing?

This won't be your average "look how well I'm doing but still tell me I'm doing great because I know I am" type post. I'm definitely doing ok but not where I'd like to be. I'm a doc 2nd year out of residency. Here's the real numbers. I'm 32, wife is 31. 2 yr old child and another due in December. In...
by Kencufc
Sat May 20, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Nothing else to do investment wise!
Replies: 23
Views: 3757

Re: Nothing else to do investment wise!

Ha I love this thread! Simplified life styles are hard for some people because we've been brain washed from early on to stress about everything and remain in a constant state of fear. Not saying you live in fear, OP, I totally understand that after you have eliminated a major concern in your life it...
by Kencufc
Sat May 20, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: have you accepted a lower cost lifestyle to retire early?
Replies: 71
Views: 9876

Re: have you accepted a lower cost lifestyle to retire early?

I'm looking to retire to Lewisburg WV. Check it out if you've never heard. I plan to teach at the medical school part time. Farmers market, two movie theaters, 2 miles from world class river and bass fishing, trout fishin, 45 min from best ski area in mid Atlantic, great restaurants, Greenbrier Reso...
by Kencufc
Sat May 20, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: tesla's valuation
Replies: 15
Views: 1345

Re: tesla's valuation

To answer your question, no.

I think the tesla 3 will be a huge hit though.
by Kencufc
Sat May 20, 2017 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Anyone know what "book" an advisor or insurance salesperson would offer to buy for a prospective client?
Replies: 26
Views: 1666

Re: Anyone know what "book" an advisor or insurance salesperson would offer to buy for a prospective client?

I think I got this same pitch when I was in residency! For the life of me I can't remember butthe title was something about the wealthy physician or something like that. In a nutshell, it was about how awesome whole life insurance is and touted the benefits of borrowing your own money and paying som...
by Kencufc
Sat May 20, 2017 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Ohio National for disability insurance?
Replies: 12
Views: 831

Re: Ohio National for disability insurance?

I just bought a LTD policy and $2M term life from Ohio National. With the 10% discount, the rates were the lowest of any of the companies I researched. They came highly recommended from the independent agen I used. Thank you so much for the helpful datapoint! Out of curiosity, if you purchased a CO...
by Kencufc
Fri May 19, 2017 10:08 pm
Forum: Personal Finance (Not Investing)
Topic: Ohio National for disability insurance?
Replies: 12
Views: 831

Re: Ohio National for disability insurance?

I just bought a LTD policy and $2M term life from Ohio National. With the 10% discount, the rates were the lowest of any of the companies I researched. They came highly recommended from the independent agen I used.
by Kencufc
Tue May 16, 2017 11:09 am
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 613
Views: 91436

Re: High Earners - What's Your Profession?

I'm a hospitalist physician and my wife is a part time nurse practitioner. I'm first year out of residency and will likely make about $300k+ This year with overtime. Without any OT, I would gross about $260k.
by Kencufc
Tue May 16, 2017 10:45 am
Forum: Investing - Help with Personal Investments
Topic: Question on putting 150K long term in VTSAX or leave in foreign stock?
Replies: 1
Views: 276

Re: Question on putting 150K long term in VTSAX or leave in foreign stock?

What exactly is this money invested in? Is it a stock paying dividends? Is there any capital gain or loss foreseen?
Regardless, if this money makes up more than 10% of your net worth, you will want to diversify that holding.
by Kencufc
Fri May 12, 2017 8:47 am
Forum: Personal Finance (Not Investing)
Topic: New with a Question. [Where to save cash to pay taxes?]
Replies: 9
Views: 913

Re: New with a Question. [Where to save cash to pay taxes?]

I personally use Vanguard high yield muni fund or intermediate muni fund to park my tax money. This is of course a risk, but I could cash flow my tax burden if they were to lose value. If you want the lowest amount of risk, a high yield savings account would be most appropriate.
by Kencufc
Thu Apr 13, 2017 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Any downside to a HELOC???
Replies: 7
Views: 1132

Re: Any downside to a HELOC???

I used HELOC to refinance a car loan, and will later on use it to refinance student loan debt. With deductions of federal income tax for the interest, the effective interest rate was much lower than the original loans. Once I pay everything off, I will no longer have any use for it. I don't need to ...
by Kencufc
Wed Mar 29, 2017 10:06 am
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

The furniture make uses authentic barn wood and old floors and doors etc. did you look at any of the work on his website that I posted? What was your impression? It seems worth pointing out that you seem mostly focused on what people think of the design, or the background history, rather than on wh...
by Kencufc
Tue Mar 28, 2017 9:21 pm
Forum: Personal Consumer Issues
Topic: Should I drop Full coverage on my car?
Replies: 17
Views: 1408

Re: Should I drop Full coverage on my car?

I always say if you can self insure, you don't need insurance. I feel like you should increase your deductible to $1k.even with depreciation of the car, ypu can wreck it within the next 10-15 years and it will be money well spent. Maybe after 20 years and you wreck it then you can regret having the ...
by Kencufc
Tue Mar 28, 2017 9:08 pm
Forum: Investing - Help with Personal Investments
Topic: 401K fund allocation advice
Replies: 5
Views: 665

Re: 401K fund allocation advice

The funds are all good choices. Just stick to the AA and rebalance when the difference N the future nds actual and desired AA is 5% or more. Certainly you want to max out all the tax advantaged accounts that you can. Do you plan to stay on the 25% tax bracket? If you think you will earn more later ...
by Kencufc
Tue Mar 28, 2017 8:58 pm
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

Does anyone have experience with getting custom reclaimed wood furniture. Yes, I make my own. There is no magic to it. You simply choose to start with wood that has imperfections/character versus flawless boards and you use both to build furniture in the same ways. Note, there is an entirely differ...
by Kencufc
Tue Mar 28, 2017 8:56 pm
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

Ask about the construction details and what kind of joinery is used. I assume someone with a website is doing proper breadboard ends to the table top and mortise and tenon joints for the legs and apron (edit, just read the second paragraph of the description and he does have these construction elem...
by Kencufc
Tue Mar 28, 2017 8:53 pm
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

Absolutely beautiful and environmentally friendly approach to furniture. We have much of it, and it is beautiful. The only issue is that since it is produced by a craftsman, it is typically more expensive. We have quite a bit that was produced by prisoners from reclaimed wood more than 75 years ago...
by Kencufc
Tue Mar 28, 2017 8:47 pm
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

How about salvage from old wooden boats? This craftsmen with whom m working has some wood from an old mansion in town. The lady who built it comes from an old coal family. n the boom days of coal, she imported huge wooden beams from New England ships and used them to build her dream home which was ...
by Kencufc
Tue Mar 28, 2017 8:42 pm
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

My salvaged wood dining room table has been disappointing. It looked great at first, but the first time it came into contact with anything remotely warm it developed white heat stains. If, for example, I were to get a plate of hot spaghetti and put the plate on a placemat on the table, the table wo...
by Kencufc
Tue Mar 28, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 13
Views: 1088

Re: Disability Insurance

I think individual policies are the way to go. Group policies will increase every year. Once your FI, just cancel it. Thanks. Where and how can I shop for disability insurance? The most efficient way is to apply through an independent insurance broker. You can check with individual companies but th...
by Kencufc
Mon Mar 27, 2017 8:36 pm
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

I have this experience: My MIL died and we got her furniture which her husband had custom made in Hong Kong while visiting a furniture factory. So custom wood furniture and free is my experience. Also whenever I go eat at a nice Chinese restaurant, they have the exact same rosewood table and chairs...
by Kencufc
Mon Mar 27, 2017 8:34 pm
Forum: Personal Consumer Issues
Topic: Salvaged Wood Furniture and Table
Replies: 36
Views: 2977

Re: Salvaged Wood Furniture and Table

daveydoo wrote:
Kencufc wrote:Does anyone have experience with getting custom reclaimed wood furniture.


You mean other than this clever advertisement? :D


Just spreading the love my friend. I have no personal gain here.
by Kencufc
Mon Mar 27, 2017 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: An Edward Jones Financial Advisor stopped by my house and spoke with my wife
Replies: 111
Views: 13181

Re: An Edward Jones Financial Advisor stopped by my house and spoke with my wife

livesoft wrote:
Kencufc wrote:Is this a standard thing that EJ does? I've never heard of them going door to door.

Definitely, yes. You can google it.


Wow. That's aggressive. Not sure if I want this to happen to me or not want it.