Search found 347 matches

by financial.freedom
Sun Jun 10, 2018 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Re: Should I buy into this medical practice?

1. Independent evaluation should not be that expensive. Most can be done for about $5-10K depending on how accurate you want it (projections/detailed analysis). That is in a different area of medicine but I can't imagine the price would differ dramatically. Typically imaging centers have a good amo...
by financial.freedom
Sat Jun 09, 2018 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Re: Should I buy into this medical practice?

I would probably only buy in if I knew I was making partner. Unless there’s some sort of unusually long partnership track. How many years until a partnership decision? I'm about 17 mos away from partner Will you need cash at that time to buy in to the practice and if so how much? Yes, buy in for th...
by financial.freedom
Sat Jun 09, 2018 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Re: Should I buy into this medical practice?

Getting an independent market evaluation is tough. It costs 25k+ depending on the income streams. What is your monthly distribution amount? How many years to break even? Is there guaranteed amount? The first imaging center had one year negative, broke even year two, positive year three, then return...
by financial.freedom
Sat Jun 09, 2018 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Re: Should I buy into this medical practice?

I am currently an associate physician and my group is allowing me to buy a percentage equity (3-5%) of an imaging center as an associate (before making partner). Obviously, this is an orthogonal issue. However, research shows that: - medical doctors who own interest in imaging centers increase the ...
by financial.freedom
Sat Jun 09, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Re: Should I buy into this medical practice?

I am currently an associate physician and my group is allowing me to buy a percentage equity (3-5%) of an imaging center as an associate (before making partner). The valuation is about 3M for two imaging centers, so would cost about 90k if I do 3%. The expected return is negative for year 1 because...
by financial.freedom
Sat Jun 09, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Re: Should I buy into this medical practice?

I'm really grateful for the advice I've received on this forum over the years, but I also feel that sometimes BH are a little conservative. I'm fairly young (late 30s), have great income as a physician, and feel that a lot of physicians these days become W2 employees and are afraid to take risks. So...
by financial.freedom
Tue May 29, 2018 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Re: Should I buy into this medical practice?

Pajamas wrote:
Tue May 29, 2018 12:04 pm
I would look at it as more of a career move than strictly as an investment.
Good point, maybe I should look at it as 90k towards my future with the group. If I buy in as an associate, they'll know I'm committed and want to be a part of the group long-term.
by financial.freedom
Tue May 29, 2018 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 24
Views: 2511

Should I buy into this medical practice?

I am currently an associate physician and my group is allowing me to buy a percentage equity (3-5%) of an imaging center as an associate (before making partner). The valuation is about 3M for two imaging centers, so would cost about 90k if I do 3%. The expected return is negative for year 1 because ...
by financial.freedom
Fri May 04, 2018 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Tips on Car mileage deduction
Replies: 14
Views: 1141

Re: Tips on Car mileage deduction

If you're an employee, you're wasting your time thinking about this. Maybe your tax accountant has gotten back to you by now, but if not you can read this: https://primepay.com/blog/tax-reform-suspends-unreimbursed-itemized-business-expenses. An arrangement whereby an employee also receives a 1099 ...
by financial.freedom
Fri May 04, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tips on Car mileage deduction
Replies: 14
Views: 1141

Re: Tips on Car mileage deduction

Are you a W2 employee or a 1099 contractor? Thank you for the reply. I haven't started yet, but I believe most of the pay is W2 and some is 1099. There may also be an option for me to be part owner of one of the offices. For the above posts, I emailed my accountant, still waiting to hear back. I ap...
by financial.freedom
Fri May 04, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tips on Car mileage deduction
Replies: 14
Views: 1141

Re: Tips on Car mileage deduction

+1 for more research Commuting to the office in your car is not a deductible expense. I would caution to not go out and buy a car on that premise. https://www.mileiq.com/blog/irs-commuting-rule-definition/ Thank you for the link! Two of the offices are different contracts, so I think that it is pos...
by financial.freedom
Fri May 04, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Tips on Car mileage deduction
Replies: 14
Views: 1141

Re: Tips on Car mileage deduction

dm200 wrote:
Fri May 04, 2018 12:33 pm
No tax expert - but since they provide office(s) for you - then commuting expenses are not tax deductible.
A lot of the work has to be done at my home office, after normal business hours and on weekends, when the other offices are closed.
by financial.freedom
Fri May 04, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Tips on Car mileage deduction
Replies: 14
Views: 1141

Tips on Car mileage deduction

I'm starting a new job where I will work from home as well as three different offices. My home office is about 35 miles away from the other offices, and each of those offices is about 5 to 10 miles apart from each other. Is there a certain way to schedule my work location to maximize the tax deducti...
by financial.freedom
Fri Apr 21, 2017 3:17 pm
Forum: Personal Consumer Issues
Topic: Washer/dryer suggestions?
Replies: 43
Views: 4896

Re: Washer/dryer suggestions?

Thank you for all of the replies!

I was able to fix our top-load washer that was leaking. The Speed Queen washer is expensive, but I think worth it. So decided to use our current washer/dryer for another year and budget for SQ next year.

Thank you again!
by financial.freedom
Fri Apr 21, 2017 3:14 pm
Forum: Personal Consumer Issues
Topic: Best surface for garage, epoxy, polished concrete, something else?
Replies: 24
Views: 3438

Re: Best surface for garage, epoxy, polished concrete, something else?

Thank you for all of the replies! I found a company that will remove the current paint that is chipping, grind/prep cement, seal cracks, epoxy, and put a polyurethane coating over the top for $4 per square foot. Someone mentioned cosmesis above. Sure, that's part of it. But also, family is tracking ...
by financial.freedom
Thu Apr 20, 2017 3:17 pm
Forum: Personal Consumer Issues
Topic: Best surface for garage, epoxy, polished concrete, something else?
Replies: 24
Views: 3438

Best surface for garage, epoxy, polished concrete, something else?

Our garage floor was painted over. After only 2 years, a lot of the paint has chipped off and is exposing cracks in the concrete. We are thinking of having the cracks sealed and epoxy professional surfacing. I've also seen polished concrete that looks nice but might be slippery. Any suggestions for ...
by financial.freedom
Fri Apr 14, 2017 2:13 pm
Forum: Personal Consumer Issues
Topic: Washer/dryer suggestions?
Replies: 43
Views: 4896

Washer/dryer suggestions?

Our top-load washer shakes so much that it cannot handle more than one or two towels, even if they are evenly distributed. Last night, it shook so much that by the time we stopped it, there was a crack in the water line and it leaked all over the floor. Our dryer is getting pretty old as well and de...
by financial.freedom
Sat Apr 01, 2017 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with credit card identity theft?
Replies: 22
Views: 2326

Re: How to deal with credit card identity theft?

More bad news: this morning I had a fraud alert from Citibank (a different bank) that someone had used my double cash Citi credit card. They attempted three purchases, only one went through and was on Apple Itunes. Citibank said I will not be charged and is sending me a new credit card in the mail. ...
by financial.freedom
Fri Mar 31, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with credit card identity theft?
Replies: 22
Views: 2326

Re: How to deal with credit card identity theft?

The same thing happened to me last fall--and we had no account with Chase. I called them upon receiving their letter; they closed the account and noted the activity; apparently they contacted the credit agencies as well. I haven't even thought about it since then, except when I opened a Chase Card ...
by financial.freedom
Fri Mar 31, 2017 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with credit card identity theft?
Replies: 22
Views: 2326

Re: How to deal with credit card identity theft?

Thank you for the replies. Apparently, Chase recognized it because the scammer tried having the new credit card mailed to a different address than my home address. I placed a 90-day fraud alert at TransUnion, and they confirmed that it will be across the three (experian, equifax included). I checked...
by financial.freedom
Fri Mar 31, 2017 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with credit card identity theft?
Replies: 22
Views: 2326

How to deal with credit card identity theft?

Chase called me and said that someone used my name, address, telephone number, and social security number to apply for a credit card. I told them I did not apply for the card, so they placed a "fraud alert" on my file at Chase. Then I called TransUnion and had them place a 90-day fraud alert on my c...
by financial.freedom
Sun Feb 26, 2017 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: Requesting Critique of My Portfolio
Replies: 9
Views: 1287

Re: Requesting Critique of My Portfolio

PS -- just keep it simple in your other accounts. If your AA fits with VG TD 2050 and the same glide path, then pick that and leave it in each account (Roth IRA, 401k). Set it, forget it. Then focus on the account that most of your money is going into -- taxable. In taxable, do 3-fund with TSM, TIS...
by financial.freedom
Sun Feb 26, 2017 7:21 pm
Forum: Investing - Help with Personal Investments
Topic: Requesting Critique of My Portfolio
Replies: 9
Views: 1287

Re: Requesting Critique of My Portfolio

[*]I have 155k sitting in various saving / checking accounts. I’d like to consolidate this into a Vanguard account and roll this into my savings portfolio. What account should I create, or use? Taxable. [*]I am maxing out my 401k contributions this year. Should I also open up non-deductible traditio...
by financial.freedom
Mon Feb 20, 2017 6:07 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

Love my sonos. We have 2 portable sonos speakers. Can take them outside or move them around to different rooms We have no additional amplifiers or any installed wiring I am no audiophile so this may not be sophisticated enough for others. Way way less than 3.5k But i have friends who have easily sp...
by financial.freedom
Mon Feb 20, 2017 6:00 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

Seems like their terminology is old. Sonons has a connect and connect amp that serve to tie in wired speakers to their wireless sonos network they will create. Also, whY are they selling you an $700 amp and the sonos connect amp to power the wired speakers? Maybe they havent explained it in detail ...
by financial.freedom
Mon Feb 20, 2017 5:56 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

At Best Buy, we received an estimate for Sonos WiFi speaker system for our living room and outdoor areas as follows: 1. 3 living room speakers in the ceiling (Visual Performance VP42R) @ 174.99 each 2. 2 outdoor speakers (AW6500WHI) @ 249.99 each 3. Amplifier -- Sonance Sonamp2-100 (SONAMP2100) 699...
by financial.freedom
Mon Feb 20, 2017 5:53 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

Sonos speakers and components are priced the same online and in stores, so there's not any wiggle room. There are several other brands you can check out including Yamaha MusicCast and Denon Heos. We are building a new home and decided on the Yamaha system because it offers more flexibility since yo...
by financial.freedom
Mon Feb 20, 2017 5:51 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

Have you considered just buying a handful of Sonos Play1's first, before going through the complication of in-ceiling speakers and separate amps? The Play 1 can handle humidity fine, I leave mine permanently mounted outside, but under a covered porch. Thank you for the reply. That may be an option ...
by financial.freedom
Mon Feb 20, 2017 5:46 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

Best Buy is likely overpriced compared to a small business that does the same thing. I would check Angies List or something similar, show them BB's quote, and see what they say. If the product is something you are comfortable shopping around for and the vendor is willing to use your product, I reco...
by financial.freedom
Mon Feb 20, 2017 5:44 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

Seems like their terminology is old. Sonons has a connect and connect amp that serve to tie in wired speakers to their wireless sonos network they will create. Also, whY are they selling you an $700 amp and the sonos connect amp to power the wired speakers? Maybe they havent explained it in detail ...
by financial.freedom
Mon Feb 20, 2017 5:39 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

Thank you for the reply. My answers below in blue font. This seems a little overpriced for 3 indoor ceiling speakers and 2 outdoor speakers on WiFi Maybe I'm misunderstanding, but what about the system is "wifi"? I don't have a great understanding about sound systems. But the Sonos device connects ...
by financial.freedom
Mon Feb 20, 2017 5:29 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Re: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

The Sonos part really seems expensive considering you can get, what, Chromecast Audio dongles for $35 each (or maybe even a little less if you look around), which streams over Wi-Fi and supports multi-room, to add the functionality to any dumb speaker set. And does labor really cost that much? If y...
by financial.freedom
Sun Feb 19, 2017 11:46 pm
Forum: Personal Consumer Issues
Topic: Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?
Replies: 22
Views: 2311

Cost of WiFi indoor/outdoor speakers: Is 3.5k too much?

At Best Buy, we received an estimate for Sonos WiFi speaker system for our living room and outdoor areas as follows: 1. 3 living room speakers in the ceiling (Visual Performance VP42R) @ 174.99 each 2. 2 outdoor speakers (AW6500WHI) @ 249.99 each 3. Amplifier -- Sonance Sonamp2-100 (SONAMP2100) 699....
by financial.freedom
Sat Feb 18, 2017 1:02 am
Forum: Investing - Help with Personal Investments
Topic: Is it reasonable to have 100% in the stock market?
Replies: 58
Views: 7366

Re: Is it reasonable to have 100% in the stock market?

Just my thoughts... 1. I wouldn't be more aggressive than 80/20. As others have mentioned, it will decrease volatility, allow you to buy stocks at a bargain as the market declines (rebalancing) and will not adversely affect returns that much compared with 100/0. 2. Just keep it simple and pick a Tar...
by financial.freedom
Fri Feb 17, 2017 6:56 pm
Forum: Investing - Theory, News & General
Topic: Beat the market long-term? Yes, it can be done.
Replies: 133
Views: 3796

Re: Beat the market long-term? Yes, it can be done.

If you are willing to hold a portfolio with more risk than "the market" you CAN beat it over long term. I did it for 11 years. It's a heck of a roller coaster however. They state their outperformance on an "assest-weighted" basis. If the weighting of assets is the same, I think they are trying to i...
by financial.freedom
Fri Feb 17, 2017 5:34 pm
Forum: Investing - Theory, News & General
Topic: Beat the market long-term? Yes, it can be done.
Replies: 133
Views: 3796

Beat the market long-term? Yes, it can be done.

From Vanguard: https://personal.vanguard.com/us/insights/article/market-long-term-062016?eITV:021617:button:sl1?EXCMPGN=EX:EM:RIG:eITV:021617:EDU:XX:SL1:201:PHIL:PROD:210:XX From the article: Between 1985 and 2014, Vanguard active funds, on an asset-weighted basis, have delivered about 0.45% in outp...
by financial.freedom
Fri Feb 03, 2017 6:24 pm
Forum: Personal Consumer Issues
Topic: Stress & The Mind/ Brain & Sleep & Behavior Modfication
Replies: 19
Views: 2544

Re: Stress & The Mind/ Brain & Sleep & Behavior Modfication

Assuming you don't have anything wrong medically... Exercise helps me. Especially a long run in the morning. Sometimes worrying about sleep can be even more frustrating than simply just not sleeping. Sometimes I can't fall asleep, but rather than stress about not sleeping I go and read a book or cat...
by financial.freedom
Thu Feb 02, 2017 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

If I say no, it may be frowned upon by my boss or others in the group. It seems they need coverage at this center and I should negotiate, but if I'm already told no by the head of our group, then attempts at negotiating an increase in pay may backfire. As an aside, I am already the lowest paid in t...
by financial.freedom
Thu Feb 02, 2017 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

OP: What are the metrics upon which your organizational compensation is based? Are you sure you are not being adequately compensated given those metrics? If the compensation committee looks at you, do they see a performer at the median, or are you a standard deviation below the mean? Perhaps taking...
by financial.freedom
Thu Feb 02, 2017 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

Thank you for all of the replies! I'm leaning toward keeping quiet for now until they bring it up again. When it is brought up again, I will politely tell them that I am not interested. If they then tell me I have to do it, I will tell them that it is not in my contract however if they give me a ne...
by financial.freedom
Thu Feb 02, 2017 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

OP: What are the metrics upon which your organizational compensation is based? Are you sure you are not being adequately compensated given those metrics? If the compensation committee looks at you, do they see a performer at the median, or are you a standard deviation below the mean? Perhaps taking...
by financial.freedom
Thu Feb 02, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

There was no additional pay, just extra work. We were told it wouldn't be that much extra work, but turns out that it's enough to justify one full-time employee. Instead of increasing our pay or hiring another employee, we just had to absorb the extra work. This sounds like the company I work for a...
by financial.freedom
Thu Feb 02, 2017 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

I have 3 hours a day min of commuting. Not too sympathetic to the "10-15 min extra commute time". Sounds like a petty complaint unless you already have a very long commute. Do what you can tolerate in terms of hours and locations, based on your ability and personal circumstances. But it sounds to m...
by financial.freedom
Wed Feb 01, 2017 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

I am not clear. If you made partner, you should have access to the books as to what profits are made and how they are distributed. If you do not, I would suggest you test the waters. I would assume that as a partner you do not have a non compete. PS - I DO have a non-compete, but think it is not re...
by financial.freedom
Wed Feb 01, 2017 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

inbox788 wrote:No, I wouldn't without more clarity.
I like the word clarity. I also thought that maybe I could request them to put the details of the new center into my contract, and then that could open up the conversation for contract negotiations and possible pay increase.
by financial.freedom
Wed Feb 01, 2017 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

I am not clear. If you made partner, you should have access to the books as to what profits are made and how they are distributed. If you do not, I would suggest you test the waters. I would assume that as a partner you do not have a non compete. They call it "shareholder" instead of partner. Once ...
by financial.freedom
Wed Feb 01, 2017 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

livesoft wrote:Do you believe that you are paid what you are worth? Or are you already underpaid? How do you know?
Based on percentiles (comparing revenue and pay), I am a little underpaid. The other partners are paid more but I do not know the details.
by financial.freedom
Wed Feb 01, 2017 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

We were in a completely different field (software development), so I don't know if the results would be the same. DW and I never turned down opportunities to be more valuable. It worked out well for me, and fabulously for her. The money always showed up, with interest. Your field might be different...
by financial.freedom
Wed Feb 01, 2017 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

That revenue is going somewhere, it's not just disappearing into thin air. Either it will be swallowed up by increased overhead at the new site or it will go to line someone's pocket. The same was true with the previous acquisition as well. How clear are the books at your group? In the short term, ...
by financial.freedom
Wed Feb 01, 2017 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say YES or NO to this new job responsibility?
Replies: 44
Views: 4530

Re: Should I say YES or NO to this new job responsibility?

Can you say no? Some of these situations, yes or no is not really an option. The work is coming to someone. Instead of saying yes or no, perhaps open a dialog dealing with what your priorities are and what your day will look like. Can you delegate some of your current tasks to make room for new tas...