Search found 2010 matches

by am
Sat May 28, 2016 7:23 pm
Forum: Investing - Help with Personal Investments
Topic: Any thoughts as to what makes good "retirement jobs"?
Replies: 21
Views: 1821

Re: Any thoughts as to what makes good "retirement jobs"?

Try to avoid the usual Doctor mistakes of the McMansion, vacation homes, >1 wife, "skilled" stock picker adviser, real estate and business investments outside of your comfort zone, etc. Than be a faithful boglehead with an MD income, relatively low expenses and maxing out retirement vehicl...
by am
Sat May 28, 2016 2:31 pm
Forum: Investing - Theory, News & General
Topic: WSJ article: Illinois pension fund adopting Boglehead philosophy
Replies: 19
Views: 2281

Re: WSJ article: Illinois pension fund adopting Boglehead philosophy

Since Illinois is funded 40%, what does that mean for those currently in the system? I have a pension from service years ago of about 2k promised at 62, and am wondering what the odds are of actually getting that? Should I take the value now and roll it over to an IRA? This is a very complex issue....
by am
Sat May 28, 2016 12:18 pm
Forum: Investing - Theory, News & General
Topic: WSJ article: Illinois pension fund adopting Boglehead philosophy
Replies: 19
Views: 2281

Re: WSJ article: Illinois pension fund adopting Boglehead philosophy

Since Illinois is funded 40%, what does that mean for those currently in the system? I have a pension from service years ago of about 2k promised at 62, and am wondering what the odds are of actually getting that? Should I take the value now and roll it over to an IRA? So far efforts to reduce the ...
by am
Fri May 27, 2016 11:49 am
Forum: Investing - Theory, News & General
Topic: WSJ article: Illinois pension fund adopting Boglehead philosophy
Replies: 19
Views: 2281

Re: WSJ article: Illinois pension fund adopting Boglehead philosophy

Since Illinois is funded 40%, what does that mean for those currently in the system? I have a pension from service years ago of about 2k promised at 62, and am wondering what the odds are of actually getting that? Should I take the value now and roll it over to an IRA? This is a very complex issue....
by am
Fri May 27, 2016 10:27 am
Forum: Personal Finance (Not Investing)
Topic: First Milestone
Replies: 11
Views: 987

Re: First Milestone

Congrats, your way ahead of most people living in this country and setting yourself up for a great retirement.
by am
Fri May 27, 2016 10:23 am
Forum: Investing - Theory, News & General
Topic: WSJ article: Illinois pension fund adopting Boglehead philosophy
Replies: 19
Views: 2281

Re: WSJ article: Illinois pension fund adopting Boglehead philosophy

Since Illinois is funded 40%, what does that mean for those currently in the system? I have a pension from service years ago of about 2k promised at 62, and am wondering what the odds are of actually getting that? Should I take the value now and roll it over to an IRA?
by am
Tue May 24, 2016 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Deferred Comp: How long do you trust your company?
Replies: 47
Views: 3826

Re: Deferred Comp: How long do you trust your company?

I work for a nationally known academic hospital with high credit rating. I think the odds of insolvency are much lower than many other risks involved with investing. If I change jobs, I will take the entire payout at once, withhold taxes and "rollover" to taxable. Few downsides with tax s...
by am
Sun May 22, 2016 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 56
Views: 3171

Re: Exclusivity and Real Estate Agents. Agree or Disagree?

Most buyers agents will want you to be exclusive with them. If you find someone you like then this shouldn't be an issue. I definitely agree that you do not want 1 agent representing the seller and buyer. Just use Redfin and save money. With the Internet and MLS available, agents offer little benef...
by am
Sun May 22, 2016 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Deferred Comp: How long do you trust your company?
Replies: 47
Views: 3826

Re: Deferred Comp: How long do you trust your company?

I work for a nationally known academic hospital with high credit rating. I think the odds of insolvency are much lower than many other risks involved with investing. If I change jobs, I will take the entire payout at once, withhold taxes and "rollover" to taxable. Few downsides with tax sa...
by am
Sat May 21, 2016 11:07 am
Forum: Investing - Help with Personal Investments
Topic: is it worth it to add REITs to my simple 3 fund portfolio?
Replies: 24
Views: 1184

Re: is it worth it to add REITs to my simple 3 fund portfolio?

You don't need REITs. Keep it simple. You'll have 401k, iras, taxable,HSA etc. 3 funder makes it easy to keep your allocation across accounts, REIT valuations are high now and expected returns much lower. Plus, as others have said, they you own them already!
by am
Thu May 19, 2016 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Any problems with netspend
Replies: 25
Views: 2524

Re: Any problems with netspend

I hope netspend lasts because I chose to open 10 accounts! Hope it isn't to bad to unwind those accounts. Than I can chase the rewards checking or maybe I will have leaned my lesson by than.
by am
Thu May 19, 2016 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

letsgobobby wrote:10% of all docs (in this survey) have net worth > $2M by age 40.



What does it mean? Inheritance, no debt with high paying specialty, save a ton and live frugally, lieing. There is no verification but at least the survey gives a rough idea.
by am
Thu May 19, 2016 9:36 am
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 182
Views: 21868

Re: guaranteed 5% vs stocks?

I opened an Ally account for purposes above. if these prepaid cards give you the jitters there's always rewards checking accounts that pay 3%. Of course these prepaid cards promising 5% interest in a world where few banks offer better than 1% and their promised interest in an "FDIC-insured acc...
by am
Mon May 16, 2016 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

Forgot to mention the irregular hours and how it takes me away from family and kids activities. The work day sucks for me as I have practically no breaks (sweatshop conditions), particularly on call which some would describe as Inhumane conditions. Oh, and if I speak up, there is a good chance that ...
by am
Mon May 16, 2016 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

If you hang out in a doctors' lounge or dining room, you will soon realize the new status symbol is the ability to retire early or when you choose. The parking lot is not a place for status symbols. Agreed. I don't see many folks in awe of the new Bentley in the parking lot. The big wow factor is &...
by am
Sat May 14, 2016 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

The amounts saved my many MDs here is not typical. For one, most MDs are primary care which typically make under 200k. Next, they are posting here on bogleheads which says a lot. Third, I am not sure the indebted divorced 45 y/o Cardiologist with a vacation home is going to post saying how he has a ...
by am
Thu May 12, 2016 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

39 y/o, procedure oriented specialist. 8 years out of training Taxable and investment accounts 3.5 million, goal is 5 million and then start to work part time Save 85% of after tax income each month and invest in index funds. Live well below my means. Do all my own car repairs and home repairs whic...
by am
Thu May 12, 2016 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

39 y/o, procedure oriented specialist. 8 years out of training Taxable and investment accounts 3.5 million, goal is 5 million and then start to work part time Save 85% of after tax income each month and invest in index funds. Live well below my means. Do all my own car repairs and home repairs whic...
by am
Thu May 12, 2016 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

42 Retirement savings + cash= 820k, house equity 650k, college accounts 180k, zero debt Goal= 2.5 mil (3 would be better), have pension 20k with cola at 62 (poorly funded state), SS at 62 than 1/2 wife a few years later Feel like I am miles away. By no means do I feel like I am wealthy even though a...
by am
Thu May 12, 2016 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 212
Views: 21022

Re: Physician Retirement Savings

You should really focus on your own savings instead of comparing to other MDs who's circumstances may be entirely different. Save, invest and spend the best way you can and hope for the best. Not sure how telling you I'm 35 with 1 mil or 50 with 10 mil will help you? My retirement plans may be signi...
by am
Tue May 10, 2016 10:45 am
Forum: Personal Finance (Not Investing)
Topic: More House or More Investing?
Replies: 25
Views: 2633

Re: More House or More Investing?

You should get the cheapest house possible that meets your needs. As others have said, this is a consumption item and a money sink. The more house you have, the more money you spend on mortgage, taxes, upkeep, furnishing, etc. In most areas, the more expensive the house, the tougher it is to unload ...
by am
Tue May 10, 2016 10:26 am
Forum: Investing - Help with Personal Investments
Topic: Another 529 question
Replies: 14
Views: 1873

Re: Another 529 question

Most pay no where near the full price tag for college, keep that in mind. Not to mention that your kid may get a scholarship.
by am
Sun May 08, 2016 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Question about FERS retirement
Replies: 21
Views: 2009

Re: Question about FERS retirement

The move back to private medicine may be tough since I practice in a saturated tight market. Not to mention that there is sometimes a stigma associated with va docs (slow and inefficient). But the thought of having a regular schedule, lower volume demands, low liability (capped at 250k damages for g...
by am
Sat May 07, 2016 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Question about FERS retirement
Replies: 21
Views: 2009

Re: Question about FERS retirement

I have a potential gov. Job available in the near future. I am wondering if the retirement beats the current 401k with 6% match for total of about 33k. As a physician with a salary of 250k or so, how much can I expect for pension after working 10'years? Is there also a 401k type match on top of tha...
by am
Sat May 07, 2016 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Question about FERS retirement
Replies: 21
Views: 2009

Re: Question about FERS retirement

Is the fed health insurance at retirement covered even after 10 years of service?
by am
Sat May 07, 2016 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Question about FERS retirement
Replies: 21
Views: 2009

Re: Question about FERS retirement

Can accrued unused sick days be used for any benefit? Is the federal health and dental insurance free or cheap? Does it allow many choices? Do you get to keep it if you retire early? Is long term care insurance good? For any docs who work at the va, is there a trial period after which it is hard to ...
by am
Fri May 06, 2016 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Question about FERS retirement
Replies: 21
Views: 2009

Re: Question about FERS retirement

How are health benefits while you work and after? Is there long term insurance, disability, life insurance and are they reasonable priced or fully covered? Does unused vacation and sick days accumulate? Can you somehow apply towards retirement unused sick and vacation days?
by am
Thu May 05, 2016 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Re: Question about contributing to solo 401k

OP, Do YOU get a paystub from your job? In similar way, could you get a paystub from the accountant for your wife "SALARY"? Looks like it is better for you to go to a different accountant that is more organized and interested in servicing your spouse company Yes you are probably correct. ...
by am
Thu May 05, 2016 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Re: Question about contributing to solo 401k

Payroll is done by our accountant every quarter. He tells us how much to send for taxes and her salary. She made something like 6k this quarter of which 5k is her salary and the other money went to taxes I believe. Accountant just told us that she can contribute 5k to the 401k. There is no formal or...
by am
Thu May 05, 2016 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Re: Question about contributing to solo 401k

she has not written the salary check to herself yet. We were thinking of just taking the 5k check and instead placing it into her solo 401k? Is that ok?
by am
Thu May 05, 2016 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Re: Question about contributing to solo 401k

Thanks for the explanation on tax savings. Now I only hope she makes w2 of 24k this year.
by am
Wed May 04, 2016 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Question about FERS retirement
Replies: 21
Views: 2009

Re: Question about FERS retirement

So is the gov. Retirement plan competitive and is it worth taking a 20% pay cut, but for a much better day to day schedule, essentially business hours versus 9 hour days, 13 weekends a year and weekly late shifts?
by am
Wed May 04, 2016 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Re: Question about contributing to solo 401k

Sorry, just confused as my wife's accountant doesn't do a formal payroll. He asks wife how much profit,than determines her salary every quarter and taxes due. She than writes checks to the gov. And herself. The 401k contribution wasn't factored. I had to ask him after the fact how much I could contr...
by am
Wed May 04, 2016 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Re: Question about contributing to solo 401k

Accountant will probably take all 401k contributions into account when he does the payrolls every quarter and figures out the tax due? Salary fluctuates every quarter. When he does W2 at the end of the year, he will probably take put the 401k contributions into account?
by am
Wed May 04, 2016 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Re: Question about contributing to solo 401k

Thanks. Interesting how fidelity told me that it can be a personal check.
by am
Wed May 04, 2016 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Question about FERS retirement
Replies: 21
Views: 2009

Question about FERS retirement

I have a potential gov. Job available in the near future. I am wondering if the retirement beats the current 401k with 6% match for total of about 33k. As a physician with a salary of 250k or so, how much can I expect for pension after working 10'years? Is there also a 401k type match on top of that...
by am
Wed May 04, 2016 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Question about contributing to solo 401k
Replies: 17
Views: 689

Question about contributing to solo 401k

My wife has a business solo 401k. We would like to make our first contribution and wondering if it would be OK to contribute from our joint personal checking account? The business account is low on cash and we would like to leave some reserves there. Thanks.
by am
Sat Apr 30, 2016 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k question
Replies: 9
Views: 520

Re: Solo 401k question

She opened the s Corp years ago when at one when point she was making 6 figures. It is hard for me to believe that an accountant can give such incorrect information? Aren't there standards? Basically, when my accountant does my wife's quarterly taxes, out of the 5k that she made, a certain amount wi...
by am
Sat Apr 30, 2016 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k question
Replies: 9
Views: 520

Re: Solo 401k question

Thanks for the reply. Seems like our accountant is not knowledgeable about solo 401ks. We tell the accountant how much she made every quarter and we then write checks for fed and state taxes and a check for her salary per his instructions. Would we tell him that we want to contribute say 500 dollars...
by am
Sat Apr 30, 2016 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k question
Replies: 9
Views: 520

Solo 401k question

Wife has a S Corp with about 5k in profits this 1st quarter. Payroll will be a couple of thousand for her. According to accountant, we can place 5k into the solo 401k we opened. The business will probably make about 20k or so this year. If I max her 401k for the year at about 18k, I will be using po...
by am
Fri Apr 29, 2016 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4803

Re: Physician Specialists Looking for career advice

No question that comfortable house and car are preferred to McMansion and luxury car. I have colleagues who are struggling on specialist MD salaries and are stuck in jobs because of poor housing choices. With the huge changes in medicine, it is comforting to know that I can surivive on much less tha...
by am
Fri Apr 29, 2016 9:36 am
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 182
Views: 21868

Re: guaranteed 5% vs stocks?

good place for a child's savings account, perhaps. If you max the cards out you can do 3 netspends, 2 brinks, 1 mango, 1 insight visa per SS for a total of 70k for husband and wife at about 5%. Wonder how many people would take 5% guaranteed returns over what the stock market will return over the n...
by am
Fri Apr 29, 2016 9:19 am
Forum: Personal Finance (Not Investing)
Topic: SS tax question on paycheck
Replies: 8
Views: 417

Re: SS tax question on paycheck

On a similar note, the 118500 max- is that reached when gross earnings or fed taxable gross=118500?
by am
Fri Apr 29, 2016 9:01 am
Forum: Personal Finance (Not Investing)
Topic: SS tax question on paycheck
Replies: 8
Views: 417

Re: SS tax question on paycheck

So if my check is is 5k I will have a direct deposit of 5680 after the max tax is payed?
by am
Fri Apr 29, 2016 8:53 am
Forum: Personal Finance (Not Investing)
Topic: SS tax question on paycheck
Replies: 8
Views: 417

SS tax question on paycheck

Say you've been paying 680 dollars every 2 weeks for SS tax and will shortly reach the max for the year of 118,500 in salary. Does the 680 dollars that you no longer pay for SS tax get taxed or is it simply added to the next check? Thanks.
by am
Wed Apr 27, 2016 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: VWO vs VSS [Vanguard Emerging Markets Stock vs. FTSE All-World ex-US Small-Cap]
Replies: 15
Views: 1002

Re: VWO vs VSS

No, not worth it. Use vxus (total international) and call it a day. Keep things simple.
by am
Wed Apr 27, 2016 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Is changing career paths to make less money ever a smart move?
Replies: 26
Views: 2276

Re: Is changing career paths to make less money ever a smart move?

I would stay, throw as much as you can into retirement funds. If you have a half million in your early-to-mid 40s, you will have secured your retirement. Thats good to know. Wife and I are only 33/32 and we have over that amount in retirement. Guess we're set. It depends on your expenses. You may n...
by am
Sat Apr 23, 2016 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4803

Re: Physician Specialists Looking for career advice

Amen. Many physicians, especially us hospital based docs become impotent expendable workers when we are employed. We have no patients and are film readers, anesthesia administrators, slide readers or ER clinicians to them. Who cares about working conditions, happiness, any control over practice or ...
by am
Sat Apr 23, 2016 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4803

Re: Physician Specialists Looking for career advice

It depends on your specialty. If you generate large downstream revenue for others, then employment with hospital or multi specialty group can make you valuable and well compensated. Not so. As you can imagine a group or hospital could make EVEN more if you do the same work with less pay. The delta ...
by am
Fri Apr 22, 2016 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4803

Re: Physician Specialists Looking for career advice

Avoid hospital employment. You will feel like a postal worker. No control over anything around you. Dead end. On the other hand, if you join a private group, your time may be limited given alarming trends...

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