Search found 1161 matches

by goodenyou
Fri May 18, 2018 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Surgeon salary vs owning a business salary/profit?
Replies: 47
Views: 4028

Re: Surgeon salary vs owning a business salary/profit?

Choosing a career in medicine is very unpredictable. Getting into medical school, doing well in medical school, getting (and liking) into a high-paying specialty residency are all unpredictable. If you want to be rich, immerse yourself in a career that is all about money. Finance/accounting etc. whe...
by goodenyou
Wed May 16, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Lucrative careers?
Replies: 318
Views: 22567

Re: Lucrative careers?

Start a religion or become a Televangelist. You could also become a Late Night Host and tell bad jokes. You could turn letters on the Wheel of Fortune and get paid millions. Don't always assume that importance and value of what you do is tied to how much you make.
by goodenyou
Tue May 15, 2018 8:21 am
Forum: Investing - Help with Personal Investments
Topic: Did you go 100% Cash-FDIC in 529 at HS graduation or before?
Replies: 13
Views: 1095

Re: Did you go 100% Cash-FDIC in 529 at HS graduation or before?

I decided to lock in my gains over the past 10 years in a 529 for 2 college-aged kids. Had about $75k in gains. Still have one finishing 9th grade @ 40/30/30 (S/B/C). Did you go to cash at age 18 or different AA? I moved funds to the “portfolio for college” option within the 529 plan in which I had...
by goodenyou
Mon May 14, 2018 6:00 pm
Forum: Investing - Help with Personal Investments
Topic: Did you go 100% Cash-FDIC in 529 at HS graduation or before?
Replies: 13
Views: 1095

Did you go 100% Cash-FDIC in 529 at HS graduation or before?

I decided to lock in my gains over the past 10 years in a 529 for 2 college-aged kids. Had about $75k in gains. Still have one finishing 9th grade @ 40/30/30 (S/B/C). Did you go to cash at age 18 or different AA?
by goodenyou
Mon May 14, 2018 8:48 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 149
Views: 11242

Re: New(ish) attending physicians in the Bay Area: Housing

Just out of curiosity, those that have or advocate a “1-2 hour” commute, how exactly do you take emergency call? My patient would be dead by the time I got there in 1-2 hours.
by goodenyou
Sun May 13, 2018 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 149
Views: 11242

Re: New(ish) attending physicians in the Bay Area: Housing

I read this post in disbelief. I live in Texas. We are inundated with California transplant physicians who realize, after several years, that they were playing a loser's game. Your work will continued to be devalued as a physician, and at the rate you are going, the finish line will continue to get ...
by goodenyou
Mon May 07, 2018 4:43 pm
Forum: Investing - Theory, News & General
Topic: What Percentage CASH are you?
Replies: 168
Views: 16904

Re: What Percentage CASH are you?

Deleted. Duplicate
by goodenyou
Mon May 07, 2018 4:43 pm
Forum: Investing - Theory, News & General
Topic: What Percentage CASH are you?
Replies: 168
Views: 16904

Re: What Percentage CASH are you?

15%. I am saving for my next home that will be paid for in cash. My ideal allocation will be 5% in retirement in about 5-10 years.
by goodenyou
Thu May 03, 2018 10:35 am
Forum: Investing - Help with Personal Investments
Topic: How do you know when you have "won the game"?
Replies: 142
Views: 15269

Re: How do you know when you have "won the game"?

When you make a lot of money, you have the luxury of spending. If you enjoy spending on high priced cars, vacations, jewelry, clubs, wine, and kids activities (and their contiuned privileged lifestyle), it takes a tremendous amount of money. It is also hard to avoid lifestyle creep. The extra $10-20...
by goodenyou
Thu May 03, 2018 9:48 am
Forum: Personal Finance (Not Investing)
Topic: "Gap in financial literacy widens for couples the longer the relationship lasts, study suggests"
Replies: 13
Views: 1786

Re: "Gap in financial literacy widens for couples the longer the relationship lasts, study suggests"

The reason for the "majesty of simplicity". Divide and conquer has always been our motto. We gravitate toward the tasks we enjoy (or can best tolerate). A basic understanding of finance is imperative. It is essential to at least understand how to implement (continue) the agree to plan. I have writte...
by goodenyou
Wed May 02, 2018 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: How do you know when you have "won the game"?
Replies: 142
Views: 15269

Re: How do you know when you have "won the game"?

Everyone plays a different game with different rules. I find earning an income an important part of my being. Knowing I can show up to work and quit at anytime is sufficient for me, but my wife and I like show an example of hard work for our young adult children. Legacy for my kids and grand kids ar...
by goodenyou
Wed Apr 18, 2018 4:05 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio review looking to retire in 1-2 years
Replies: 23
Views: 2680

Re: Portfolio review looking to retire in 1-2 years

Expenses are the key to this analysis. I thought kids were expensive when they were under 10 years of age. For us, the expenses of 3 young adults around the age of 20 are tremendous. Retiring before 50 with young children, in my opinion, would require a conservative withdrawal plan. Your plan on su...
by goodenyou
Wed Apr 18, 2018 8:48 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio review looking to retire in 1-2 years
Replies: 23
Views: 2680

Re: Portfolio review looking to retire in 1-2 years

Expenses are the key to this analysis. I thought kids were expensive when they were under 10 years of age. For us, the expenses of 3 young adults around the age of 20 are tremendous. Retiring before 50 with young children, in my opinion, would require a conservative withdrawal plan. Your plan on sup...
by goodenyou
Sat Apr 14, 2018 8:37 am
Forum: Investing - Help with Personal Investments
Topic: Aren't we betting a bit too heavily on US stocks and bonds?
Replies: 34
Views: 2698

Re: Aren't we betting a bit too heavily on US stocks and bonds?

My personal decision on international exposure has more to do with stability of governments, accountability and transparency. In my opinion, there are several markets around the world including China and Russia that are seriously lacking in this criterion. The quality, not just size, of a market is ...
by goodenyou
Fri Apr 13, 2018 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Unaffordable prescription drug
Replies: 42
Views: 3696

Re: Unaffordable prescription drug

How long do you plan to be on this expensive drug? If it is off label, maybe you can enroll in a study and be comped the medication. I would seek a second opinion by an expert at a reputable academic center familiar with the treatment options for your condition. I don't know how long I would be on ...
by goodenyou
Fri Apr 13, 2018 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Could you support family on 1 income?
Replies: 88
Views: 6067

Re: Could you support family on 1 income?

If you ask that question in a family with a high earning spouse, of course. We made all of our decisions based on 1 income since we had 3 kids. My wife went back to school and re-entered the workforce in her 40s. It can be done. You just have to find the right place and right job.
by goodenyou
Fri Apr 13, 2018 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Unaffordable prescription drug
Replies: 42
Views: 3696

Re: Unaffordable prescription drug

How long do you plan to be on this expensive drug? If it is off label, maybe you can enroll in a study and be comped the medication. I would seek a second opinion by an expert at a reputable academic center familiar with the treatment options for your condition.
by goodenyou
Wed Apr 11, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Prescription drug costs
Replies: 22
Views: 1349

Re: Prescription drug costs

If someone could crack the Ivermectin for dogs racket, that would be great. A "required" vet visit per year for a one year supply of Heartgard is getting ridiculous! And, I have 2 dogs!
by goodenyou
Mon Apr 09, 2018 6:22 pm
Forum: Investing - Theory, News & General
Topic: What is your AA, given your age? and, Why?
Replies: 163
Views: 12134

Re: What is your AA, given your age? and, Why?

52yo. Wife 50yo. 62/28/10. S/B/Cash. Paid off house. 2 in college, one more in 3 years. Serious cash burn time even with fully funded 529 plans. Holding a lot of cash for a new "retirement" house that will cost twice as much as the house I am trying to unload. At current savings rate and AA, I figur...
by goodenyou
Thu Apr 05, 2018 11:21 am
Forum: Personal Finance (Not Investing)
Topic: medical practice reimbursement issues
Replies: 35
Views: 2614

Re: medical practice reimbursement issues

Because your friend is paid on his collections, he should have the ability to see "charges, payments, adjustments, Insurance AR, patient AR, over 90 day AR (what isn't being paid after appeal), payer mix (make sure he isn't getting stuck with all Medicaid patients or lower reimbursing plans), and t...
by goodenyou
Wed Apr 04, 2018 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 9607

Re: How Do You Value Your Home for Net Worth Purposes?

It appears that those who dismiss home equity in their net worth believe that the value of home equity is not actionable. That is, decisions on creating cash flow for retirement spending is independent of their home value. Decisions on delaying retirement may be based on removing the expense of a mo...
by goodenyou
Tue Apr 03, 2018 4:25 pm
Forum: Investing - Theory, News & General
Topic: William Bernstein: Retirement Investing and Spending in two easy steps
Replies: 77
Views: 9345

Re: William Bernstein: Retirement Investing and Spending in two easy steps

The “stop playing” meme came from an article I wrote for the WSJ a few years back. They only gave me 800 words, and that doesn’t leave a lot of room for nuance or detail. If they’d have given me 5,000 words, here’s what I’d have added: 1) All-TIPS is for the part of your portfolio that you need to ...
by goodenyou
Thu Mar 29, 2018 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 9607

Re: How Do You Value Your Home for Net Worth Purposes?

This topic bubbles up every few months. I have paid off my home, and while I include it it my net worth for accounting purposes, I do not include the value of my home for decisions on retirement and spending. I am only interested in investible assets that are liquid (or somewhat liquid). I don't inc...
by goodenyou
Tue Mar 27, 2018 6:31 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6550
Views: 1406352

Re: U.S. stocks in freefall

What will the stock market do?

"It will fluctuate".

J.P. Morgan
by goodenyou
Sun Mar 25, 2018 9:40 am
Forum: Investing - Theory, News & General
Topic: I’m looking for a word...
Replies: 114
Views: 9531

Re: I’m looking for a word...

Lemming Effect

Dutch Tulip Effect

Guys like Thaler or Ariely may have one.
by goodenyou
Sun Mar 25, 2018 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 310
Views: 63933

Re: Physician Retirement Savings

OP you are off to a good start. Just keep at it. I will pose (as a physician) a question more IMPORTANT then hitting your number and that is what will you do when you hit the number at such an early age? Your kids will be in school full time and young enough you can't just leave them at home and fl...
by goodenyou
Sat Mar 24, 2018 10:38 am
Forum: Investing - Theory, News & General
Topic: I’m looking for a word...
Replies: 114
Views: 9531

Re: I’m looking for a word...

“Sell When the Taxicab Drivers and Strippers are Talking About the Stock Market Effect”
by goodenyou
Thu Mar 22, 2018 2:27 pm
Forum: Investing - Help with Personal Investments
Topic: Which VG Short Term Bond???
Replies: 7
Views: 952

Re: Which VG Short Term Bond???

Where's the cash? Taxable or Tax-Privileged? Short Term Tax-Free? Depending on your tax-bracket, it could be more significant. However, the numbers are so low (1.6-2.5%)that it may be inconsequential if it isn't a large amount of money.
by goodenyou
Wed Mar 14, 2018 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Should a recent college grad look for a job in the Bay Area or Texas?
Replies: 39
Views: 2780

Re: Should a recent college grad look for a job in the Bay Area or Texas?

Short answer: The salary will be higher in the Bay Area, but that may not translate to a better standard of living. The cost of living is insane in the Bay Area. This is incorrect. Many of the salaries and income opportunities in medicine will be much higher in Texas. Geographic arbitrage is alive ...
by goodenyou
Tue Mar 13, 2018 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 310
Views: 63933

Re: Physician Retirement Savings

Just make sure you have a lot of life and disability insurance. I have seen my high-flying colleagues end up in disaster with disability and/or their families in a world of hurt after unexpected death. It really does happen.
by goodenyou
Mon Mar 12, 2018 7:41 pm
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation once you've passed your "number"
Replies: 41
Views: 3602

Re: Asset Allocation once you've passed your "number"

I don't think I will change my AA. I think that the probability of failure just goes down as the total number gets bigger (and larger than my "number"). I am 60/30/10 (S/B/C). That percentage breakdown of an even larger number just further reduces risk of failure, but having that AA allows for a sig...
by goodenyou
Mon Mar 12, 2018 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: College costs not covered by 529
Replies: 30
Views: 2453

Re: College costs not covered by 529

I found out the hard way that costs in EXCESS of published cost of attendance costs were not 529 qualified expenses. This became an issue when apartment costs in a HCOL area and food costs far exceeded the pubished dorm fees with board. I had to reimburse myself the costs from the 529 that were far ...
by goodenyou
Mon Mar 12, 2018 8:44 am
Forum: Investing - Help with Personal Investments
Topic: Alternative to bond funds?
Replies: 32
Views: 3876

Re: Alternative to bond funds?

My wife and I currently have about 20% of our holdings in VBIRX (Vanguard Short-Term Bond Index Fund Admiral Shares.) This fund has a negative yield YTD, and this is also the case with many other bond funds. Any recommendations for suitable alternatives? Thanks! I'd recommend learning more about bo...
by goodenyou
Wed Mar 07, 2018 9:27 am
Forum: Investing - Help with Personal Investments
Topic: Stock/Bond fund ratio?
Replies: 11
Views: 1080

Re: Stock/Bond fund ratio?

I agree 25% might be a good estimate, but please be aware this sort of "calculation" is subject to some uncertainty. When you look at the models that produce this estimate success rates tend to fall off a cliff as stock allocation is reduced. I'm not sure you want to plan on being on the edge of a ...
by goodenyou
Sat Mar 03, 2018 3:04 pm
Forum: Investing - Theory, News & General
Topic: Is Now the Time to Reduce Bond Duration?
Replies: 41
Views: 4449

Re: Is Now the Time to Reduce Bond Duration?

With the expectation of interest rate increases, it it time to reduce duration to preserve NAV of bond funds? I realize the yield will increase with rising interest rates, but the value will decrease. Does the decision rest on the need for liquidity only? Is the sweet spot still intermediate durati...
by goodenyou
Sat Mar 03, 2018 2:51 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Active Fails In Fixed Income
Replies: 25
Views: 2869

Re: Larry Swedroe: Active Fails In Fixed Income

Hmmm. Vanguard's Tax-Exempt bond funds are actively managed and low cost. Do we really want to index (presumably by random sampling from the very large universe) muni bond investments? Reminds me of a doctor friend who bought individual munis, including some linked to a hospital in New Orleans. Whe...
by goodenyou
Sat Mar 03, 2018 2:48 pm
Forum: Investing - Theory, News & General
Topic: Is Now the Time to Reduce Bond Duration?
Replies: 41
Views: 4449

Is Now the Time to Reduce Bond Duration?

With the expectation of interest rate increases, it it time to reduce duration to preserve NAV of bond funds? I realize the yield will increase with rising interest rates, but the value will decrease. Does the decision rest on the need for liquidity only? Is the sweet spot still intermediate duratio...
by goodenyou
Mon Feb 26, 2018 10:02 pm
Forum: Investing - Theory, News & General
Topic: Warren Buffett Dislikes Bonds
Replies: 57
Views: 6877

Re: Warren Buffett Dislikes Bonds

Big talk for a guy whose company is sitting on $100 billion in cash. :D Cash is a different asset class altogether from bonds. It may be a debt security but it behaves a lot differently than even an intermediate term bond. Especially if you add the credit exposure of money market funds to it, there...
by goodenyou
Mon Feb 26, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: It's Official - We're Done
Replies: 51
Views: 11970

Re: It's Official - We're Done

How do we know he/she hasn’t gone back to work?
by goodenyou
Sat Feb 24, 2018 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 59
Views: 3924

Re: How to pay partners for working your call

gasdoc I'm curious how the national company comes in? Do they come to your group and make a friendly offer? Or go to the hospital for the contract, and then come to you? Sometimes the offers are friendly, but often they are not. These groups own the vast majority of the EM market and soon radiology...
by goodenyou
Sat Feb 24, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 59
Views: 3924

Re: How to pay partners for working your call

Just cut a check on Monday morning. The one taking the call takes more income (call cost) and pays the extra taxes as income. The one paying expenses it and deducts it. More W-2 for the call-taker. Less W-2 for the call-avoider. We own our own practice, so it's easy. Goodenyou, please elaborate. It...
by goodenyou
Fri Feb 23, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 59
Views: 3924

Re: How to pay partners for working your call

Just cut a check on Monday morning. The one taking the call takes more income (call cost) and pays the extra taxes as income. The one paying expenses it and deducts it. More W-2 for the call-taker. Less W-2 for the call-avoider. We own our own practice, so it's easy. Goodenyou, please elaborate. It...
by goodenyou
Thu Feb 22, 2018 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 59
Views: 3924

Re: How to pay partners for working your call

Just cut a check on Monday morning. The one taking the call takes more income (call cost) and pays the extra taxes as income. The one paying expenses it and deducts it. More W-2 for the call-taker. Less W-2 for the call-avoider. We own our own practice, so it's easy.
by goodenyou
Tue Feb 20, 2018 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Connecticut is charging sales tax on out of state purchases
Replies: 40
Views: 2895

Re: Connecticut is charging sales tax on out of state purchases

If you purchase gas in a different state, do you need to forward the difference in taxes to your home state? Do you get a credit if it is lower? I never underestimate the voracious appetite for tax revenue. This is a bad idea, Actually, I think long haul truckers actually have to do that. They have...
by goodenyou
Tue Feb 20, 2018 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Connecticut is charging sales tax on out of state purchases
Replies: 40
Views: 2895

Re: Connecticut is charging sales tax on out of state purchases

If you purchase gas in a different state, do you need to forward the difference in taxes to your home state? Do you get a credit if it is lower? I never underestimate the voracious appetite for tax revenue.

This is a bad idea,
by goodenyou
Tue Feb 20, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: What's your cash position
Replies: 105
Views: 10387

Re: What's your cash position

About 60/30/10 (S/B/C). So 10% cash. I have liquidity needs that allow for me to negotiate with strength on business deals. I also want to build a new house fairly soon.
by goodenyou
Wed Feb 07, 2018 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: Torn between Vanguard, Fidelity and Schwab
Replies: 169
Views: 16836

Re: Torn between Vanguard, Fidelity and Schwab

Like others, I have all three. My reason is probably more motivated by (probably unnecessary) fear of having all my assets in one place. I started with Schwab and moved to Vanguard 20 years ago when Vanguard was far cheaper. Schwab and Fidelity have made significant gains and in some ways have excee...
by goodenyou
Sat Feb 03, 2018 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 10007

Re: How risky is Med school student loan debt?

I misread that. I thought he was talking about physicians CLAIMING disability. My former college roommate is a general surgeon and made a claim on her disability policy when she was hit with Guillain-Barré. She recovered after many months and is now able to practice again. So, now (anecdotally) you...
by goodenyou
Sat Feb 03, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 10007

Re: How risky is Med school student loan debt?

Ok, let's do some math. $200k a year. Let's pull out 20% for retirement since we are good bogleheads. Now we have $160k. Unless we live in one of the few no state tax states we are looking at about 33% going to state, federal, social security, and Medicare tax. We are now down to 107K. School loans...