Search found 776 matches

by veindoc
Sat Apr 03, 2021 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice for high schooler with HFA & difficulty with math
Replies: 65
Views: 6010

Re: Career advice for high schooler with HFA & difficulty with math

OP, if this matter is your personal responsibility, you should really be asking a professional with the specific training and experience needed to counsel autistic individuals and their families about careers, rather than a forum of well-meaning but unqualified individuals. I count myself in this l...
by veindoc
Thu Feb 25, 2021 7:46 pm
Forum: Personal Investments
Topic: Dream garage/workshop, or college savings?
Replies: 43
Views: 3462

Re: Dream garage/workshop, or college savings?

Did you just start your 15 year mortgage? I do think you are very underfunded for college. If you finished your mortgage at the same time as your oldest was going to college then I would say fine, use the improved cash flow to fund college, but if you started your 15 year mortgage, that won’t help. ...
by veindoc
Sun Jan 31, 2021 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to upgrade home
Replies: 7
Views: 1255

Re: How to upgrade home

How much do you make per year? How will a mortgage impact your finances? What would the property taxes be on this new place? Quite frankly I don’t think you should do it. Yes you max out your 403b, but all you have in savings is 29k? Plus your efund? With a paid off home that’s all you have? And now...
by veindoc
Tue Jan 26, 2021 9:07 pm
Forum: Personal Consumer Issues
Topic: What are your DIY Home and Hobby Projects to Save $$$ and/or Have Fun?
Replies: 105
Views: 8478

Re: What are your DIY Home and Hobby Projects to Save $$$ and/or Have Fun?

I repurpose old furniture. I wanted to make our guest bedrooms more comfortable for my in-laws when they visited but didn’t want to spend a small fortune on 2 bedroom sets. So I made my own upholstered headboards. Sanded and stained a dresser/night stand etc. Reupholstered a club chair. The only thi...
by veindoc
Mon Jan 25, 2021 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: How to terminate an employee
Replies: 31
Views: 3351

Re: How to terminate an employee

I own a small private practice with two employees. This is a young practice, less than 2 years old, and the person I hired as an office manager was green with little experience. My hope was to groom her as the business grew. Long story short its not working out. I was warned by other doctors that H...
by veindoc
Mon Jan 25, 2021 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: How to terminate an employee
Replies: 31
Views: 3351

Re: How to terminate an employee

I agree with the advice to be very clear about your expectations, that the employee is not meeting them, and that if the employee continues not to meet them then you’ll have to terminate them. In addition, you should document everything in writing. At Megacorp the above would be done as a written P...
by veindoc
Mon Jan 25, 2021 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to terminate an employee
Replies: 31
Views: 3351

Re: How to terminate an employee

I own a small private practice with two employees. This is a young practice, less than 2 years old, and the person I hired as an office manager was green with little experience. My hope was to groom her as the business grew. Long story short its not working out. I was warned by other doctors that H...
by veindoc
Mon Jan 25, 2021 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: How to terminate an employee
Replies: 31
Views: 3351

How to terminate an employee

I own a small private practice with two employees. This is a young practice, less than 2 years old, and the person I hired as an office manager was green with little experience. My hope was to groom her as the business grew. Long story short its not working out. I was warned by other doctors that HR...
by veindoc
Mon Jan 18, 2021 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Job Update
Replies: 28
Views: 3247

Re: Job Update

Well that stinks. I can’t imagine being told WFH forever than actually you have to commute 3x/week. Are you unemployed now? I wouldn’t take the job. It’s materially a different job than advertised. If you have to take the job I would make it known I was disappointed about the bait and switch, so whe...
by veindoc
Sun Jan 17, 2021 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy this house? (Not can we afford this house)
Replies: 51
Views: 3836

Re: Should we buy this house? (Not can we afford this house)

I would do it for the sense of community. Pre pandemic it was so nice to open the door and have my kids head out to the neighbors. Or be greeted at the door with a group of kids asking if my kids were home and wanted to play. Versus trying to align my schedule with that of another working parent to ...
by veindoc
Sat Jan 16, 2021 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with gold coins? Help me decide.
Replies: 44
Views: 3156

Re: What to do with gold coins? Help me decide.

.... 8 gold bars ..... It did not rise substantially from 800 at purchase in 1987 to just under $2000 now. So she spent $6,400 on the gold in 1987. On January 1st the S&P 500 was at 264. It is at 3768 today. That is up orver 14 time without dividends. If she had bought an $S&P 500 index fun...
by veindoc
Sat Jan 16, 2021 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with gold coins? Help me decide.
Replies: 44
Views: 3156

Re: What to do with gold coins? Help me decide.

Nate79 wrote: Sat Jan 16, 2021 9:20 am Dig a hole and bury it in the backyard. Make a map. Put the map in a bottle. Put the bottle in the attic. In your will give instructions where to find the bottle upon your demise.
I love this. If I was clever enough I would do this with riddles and clues along the way, but I have no imagination.
by veindoc
Sat Jan 16, 2021 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Nanny Payroll - Pay a service or do manually?
Replies: 19
Views: 1762

Re: Nanny Payroll - Pay a service or do manually?

@veindoc, I only had to log onto that awful social security website every year, not every quarter. I only ever made payments or did tax work every year, not every quarter. Since you can reconcile all federal taxes on your schedule H, it makes it a lot easier than being a real "business" i...
by veindoc
Fri Jan 15, 2021 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: Nanny Payroll - Pay a service or do manually?
Replies: 19
Views: 1762

Re: Nanny Payroll - Pay a service or do manually?

Thanks everyone for the responses so far. It sounds like Savvynanny is a good way to go. For anyone who has done it manually, would you mind posting the steps, or posting a link to what's required? I'm trying to get an idea of what $40/mth gets you. We did it ourselves. We did it a bit backwards. S...
by veindoc
Fri Jan 15, 2021 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with gold coins? Help me decide.
Replies: 44
Views: 3156

Re: What to do with gold coins? Help me decide.

UpsetRaptor wrote: Fri Jan 15, 2021 9:36 pm So each bar is one ounce then? Just checking to ensure you were given a correct price.
Yes, each bar is an ounce.
by veindoc
Fri Jan 15, 2021 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with gold coins? Help me decide.
Replies: 44
Views: 3156

Re: What to do with gold coins? Help me decide.

Sentimental? Sell it and buy Vanguard LifeStrategyModerate Growth fund with the money. Sell some of the fund each year on your mother's birthday and have a nice dinner or take the entire family on a vacation paid by your mother. Also vow to never have your heirs saddled with sentimentality with the...
by veindoc
Fri Jan 15, 2021 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with gold coins? Help me decide.
Replies: 44
Views: 3156

What to do with gold coins? Help me decide.

I inherited from my mother 8 gold bars which are valued at a little under $16,000 per my jeweler. Financially for us this will not move the needle. I would like to keep this money separate for sentimental reasons. Choices are to keep the gold bars, purchase a piece of estate jewelry I would wear on ...
by veindoc
Fri Jan 15, 2021 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: New house vs. Addition
Replies: 30
Views: 1639

Re: New house vs. Addition

Is a new home really only $50k more? That’s like an extra $100/month on your mortgage. If so I would move in a heartbeat. No need to find an architect, builder, and then subsequently complain about said contractor/builder. No construction dust and delays nor overall disruption to your life. I don’t ...
by veindoc
Tue Jan 12, 2021 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Got a job offer for $840k/yr. Should I come out of retirement?
Replies: 229
Views: 29055

Re: Got a job offer for $840k/yr. Should I come out of retirement?

It sounds like you want to declare Enough. I encourage you to. Thank you for that comment. Earlier in my career, I decided that ~$2.5 million was "Enough" for me because I my expenses were $100k and was happy with a 4% rule. But once I got to it, the number just kept moving. For some reas...
by veindoc
Sat Jan 09, 2021 10:11 pm
Forum: Personal Investments
Topic: Please advise doc who wants to retire early
Replies: 103
Views: 8849

Re: Please advise doc who wants to retire early

I forgot to add, If you do decide to do non clinical medicine, many of those positions require five years of clinical experience, so keep that in mind as you plot your next steps.
by veindoc
Sat Jan 09, 2021 8:31 pm
Forum: Personal Investments
Topic: Please advise doc who wants to retire early
Replies: 103
Views: 8849

Re: Please advise doc who wants to retire early

If I were you I would just leave clinical medicine now or significantly alter what you are doing effective tomorrow. The resentment and burnout will build over time. You didn’t say if you had kids, but if you plan on them, leaving those little humans who absolutely adore you and weep miserably when ...
by veindoc
Fri Jan 08, 2021 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a home in 6 months: Have NO credit
Replies: 63
Views: 3964

Re: Purchasing a home in 6 months: Have NO credit

The other issue is that I know that credit reporting agencies like a combo of revolving credit (credit card)and installment credit like car loans and mortgages. I have no installment loans and as such my credit score is always high 700s and I have not broken 800 in a decade despite a credit limit of...
by veindoc
Fri Jan 08, 2021 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a home in 6 months: Have NO credit
Replies: 63
Views: 3964

Re: Purchasing a home in 6 months: Have NO credit

I would do both. Wont’t hurt and your credit score right now is too low to secure a good rate. To get the biggest bang for your buck ask your father to add you to the card with the longest history first followed by highest credit limit. Make sure he keeps utilization low on that card.
by veindoc
Tue Jan 05, 2021 9:21 pm
Forum: Personal Consumer Issues
Topic: Tips to stick to a weight loss diet?
Replies: 331
Views: 23146

Re: Tips to stick to a weight loss diet?

My suggestion is to turn eating from something pleasurable into something that you simply need to do every day to live. Find pleasure in another outlet. Wow. Just wow. I think this is the key. Thank you. Yes. I was tired of fighting with myself over what I wanted to eat vs what I knew I should eat....
by veindoc
Tue Jan 05, 2021 4:27 pm
Forum: Personal Consumer Issues
Topic: Furniture delivery delays
Replies: 20
Views: 1739

Re: Furniture delivery delays

Unless you had to have this sectional I would just ask for a refund and deal with another store. You will likely get another sectional faster than you get the replacement parts.
by veindoc
Mon Jan 04, 2021 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a home in 6 months: Have NO credit
Replies: 63
Views: 3964

Re: Purchasing a home in 6 months: Have NO credit

Is there someone you trust who can put you as an authorized user on their account? At the end of six months, cancel the card. My dad gave me a credit card when I was applying for medical school/ residency. Shortly after I was “launched”, he revoked the card. It showed up on my credit report about si...
by veindoc
Sat Jan 02, 2021 7:24 pm
Forum: Personal Consumer Issues
Topic: Building a custom house - how should I handle this issue with the builder?
Replies: 83
Views: 5342

Re: Building a custom house - how should I handle this issue with the builder?

I would at least try to recoup some of the expenses from the delay. You are just charging for the interest but there were other costs that you accrued because of the delay: housing for one. If he puts up a good argument about delays, then I would be inclined to believe him. I have heard stories abou...
by veindoc
Thu Dec 31, 2020 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Struggling to Figure Out a Side Gig
Replies: 59
Views: 6465

Re: Struggling to Figure Out a Side Gig

Retail arbitrage if you like bargain hunting. What is this? Is this buy a bunch of stuff for cheap (or get it for free), and then turn around and sell it for a profit? Does it count if I just sell a bunch of personal possessions? Yes it is. It’s easier if you focus on one item or genre. Once upon a...
by veindoc
Thu Dec 31, 2020 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Struggling to Figure Out a Side Gig
Replies: 59
Views: 6465

Re: Struggling to Figure Out a Side Gig

Retail arbitrage if you like bargain hunting.
by veindoc
Thu Dec 31, 2020 7:36 am
Forum: Investing - Theory, News & General
Topic: DAFs
Replies: 33
Views: 2020

Re: DAFs

We opened a DAF at Fidelity to donate some appreciated shares. It took 2-3 weeks for the transfer of Vanguard funds to Fidelity IN DECEMBER which to me seemed like a very reasonable time frame considering that December was probably the peak time for these transfers. I have to say I find the DAF cumb...
by veindoc
Thu Dec 10, 2020 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: We won the game…then we rolled the dice
Replies: 192
Views: 20608

Re: We won the game…then we rolled the dice

Tl/dr: we made our “number”, then we took a significant portion of it and bought a small business. It has been a big, stressful challenge, but we knew what we were signing up for (mostly). Posting this for Bogleheads who think they may want to start or buy a business. DW and I were sitting pretty. ...
by veindoc
Tue Dec 08, 2020 9:32 pm
Forum: Personal Consumer Issues
Topic: Working From Home (Physician Working in Industry versus Practicing)
Replies: 12
Views: 1570

Re: Working From Home (Physician Working in Industry versus Practicing)

One, I’m a surgeon married to another surgeon. Two, I’m a subspecialist which may explain my view. If you are genuinely curious about the opportunity I would go for it. You can always go back to surgery. Many people will state otherwise but it’s not true. And I am saying this from experience. I was ...
by veindoc
Sat Dec 05, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Love it or list it - Put money into house or sell it?
Replies: 10
Views: 1282

Re: Love it or list it - Put money into house or sell it?

What do you mean by the large development changing the dynamic? Is this a senior living development next to an otherwise kid friendly neighborhood? Is a Walmart going in? If you don’t know where to go, I would focus on staying. Especially if you feel the changes you would make would leave you well s...
by veindoc
Sat Dec 05, 2020 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Parents Mortgaging Their Home to Help Son Complete Dream Home Build
Replies: 103
Views: 7698

Re: Parents Mortgaging Their Home to Help Son Complete Dream Home Build

vineviz wrote: Fri Dec 04, 2020 8:55 am
AlD wrote: Thu Dec 03, 2020 8:43 pm

Is it fair to hold dream house builder brother responsible for that opportunity cost?
No. That cost belongs entirely to the parents.
Agreed. If parents agree to do this, the opportunity cost is not dream builders son’s burden. Simply the 900,000 and interest on the loan.
by veindoc
Fri Dec 04, 2020 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Commuting after COVID
Replies: 133
Views: 8286

Re: Commuting after COVID

I have been working from home ever since the pandemic began. It’s been going pretty well for me. One thing that I have been reflecting on: I used to have a very, very long commute. What’s it going to be like to resume that? I feel like I’ve given up a part-time job by not having to make the trek. H...
by veindoc
Thu Dec 03, 2020 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Parents Mortgaging Their Home to Help Son Complete Dream Home Build
Replies: 103
Views: 7698

Re: Parents Mortgaging Their Home to Help Son Complete Dream Home Build

Can brother service the loan for the parents? Thereby making the calculation simpler.
by veindoc
Wed Dec 02, 2020 7:38 pm
Forum: Personal Investments
Topic: At what milestone did you feel secure?
Replies: 156
Views: 17645

Re: At what milestone did you feel secure?

10x income is a good milestone until then it is save, save, and save some more! I think impatience is at an all time high while trading volume trends lower. With respect, any income based milestone is silly*. It should be based on a multiple of residual expenses. *why silly? Because it leads to the...
by veindoc
Tue Dec 01, 2020 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Parent wants to gift kids second home:tax implications
Replies: 11
Views: 1445

Re: Parent wants to gift kids second home:tax implications

Your dad is young. You are likely making a long-term commitment if you agree to manage the 2nd property. Might be easier for everyone if your dad sells it, pays the taxes and invests the rest. This is my concern as well. I can sense the stress this property is having on him. I think Covid is making...
by veindoc
Tue Dec 01, 2020 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Reassure my nerves please [home purchase]
Replies: 15
Views: 1839

Re: Reassure my nerves please [home purchase]

Why this house? How much better quality of life do you think you will get in a home in another location? If this was an out of state move then fine, but it sounds like different neighborhood within the city. Is that correct? I’m usually one to encourage people to go for the gold, but I don’t really ...
by veindoc
Tue Dec 01, 2020 1:09 am
Forum: Personal Investments
Topic: No Emergency Fund/Coronavirus distribution
Replies: 11
Views: 1141

Re: No Emergency Fund/Coronavirus distribution

So you are self employed with no money coming in? Or were you unable to work for 3 months and now can? Does your spouse’s income cover the expenses? Is the efund for personal emergencies or work emergencies? I guess I am confused why you took out so much. Do you really need $47k in case of emergenci...
by veindoc
Tue Dec 01, 2020 12:12 am
Forum: Personal Finance (Not Investing)
Topic: First Home Buying Experience
Replies: 65
Views: 4962

Re: First Home Buying Experience

For me the real value of the realtor was the inspection period. Our realtor found us an inspector, read through the report with us, found a contractor to take a look at things with us, and helped to develop our response. For a first time home buyer I think this is very helpful. We didn’t really have...
by veindoc
Mon Nov 30, 2020 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Parent wants to gift kids second home:tax implications
Replies: 11
Views: 1445

Parent wants to gift kids second home:tax implications

My father bought a condo as a second home almost twenty years ago for $650,000 as new construction. He enjoyed it for ten years but over the last ten years has spent little time in it. About ten years ago, he asked my siblings and I if we wanted it. At the time maintenance was roughly $2000/month or...
by veindoc
Sat Nov 28, 2020 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Home building decision
Replies: 6
Views: 924

Re: Home building decision

Have you re-run the numbers recently. Covid has impacted the price of building materials and that $50k overage house budgeted may be overwhelmed by the uptick in material costs.
by veindoc
Sat Nov 28, 2020 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: How can I reduce my annual expenses: Budget help
Replies: 133
Views: 9797

Re: How can I reduce my annual expenses: Budget help

The other thing you can do is to look at how you purchase. I never buy just one of anything. If I buy deodorant I buy two. One for now and one for later. Same with batteries, same with office supplies. In reality, when I run low, I buy more. And buy low I mean by half. I have never found myself in a...
by veindoc
Sat Nov 28, 2020 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: How can I reduce my annual expenses: Budget help
Replies: 133
Views: 9797

Re: How can I reduce my annual expenses: Budget help

Edited the original post to elaborate on what "household supplies" consists of. What helps for me when I need a budget reset is write down every expense as I am spending it. That extra few minutes can help with impulse buying. I have a good and valid reason to buy everything I do. However...
by veindoc
Sat Nov 28, 2020 7:21 am
Forum: Personal Finance (Not Investing)
Topic: How can I reduce my annual expenses: Budget help
Replies: 133
Views: 9797

Re: How can I reduce my annual expenses: Budget help

Yes, true, the category is too broad and needs to be looked at. At the same time, having a household is expensive. Even a box of nails and a hammer to hang a picture. A tool box to hold the hammer and the other tools scattered in the junk drawer. Batteries for the smoke detectors. Light bulbs ($$$!...
by veindoc
Wed Nov 25, 2020 11:13 pm
Forum: US Chapters
Topic: Staying Grateful
Replies: 37
Views: 3277

Re: Staying Grateful

I have been spending a ton of time on Facebook this year and as such have been alerted to a lot of people in need. I have donated food, toys, and clothes to various people and organizations in my community. While this year hasn’t been great financially or emotionally, I am so grateful we built a str...
by veindoc
Mon Nov 16, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Supporting Entrepreneurial Education Experiment with a Child
Replies: 6
Views: 528

Re: Supporting Entrepreneurial Education Experiment with a Child

My niece had an interest in fashion. They purchased some items at a thrift store and upcycled them. I helped her create an Etsy store. Her other aunt made her logo. And with just that she sold some items off of Etsy. I think she posted some pics on social media but color me surprised when she actual...
by veindoc
Mon Nov 16, 2020 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Supporting Entrepreneurial Education Experiment with a Child
Replies: 6
Views: 528

Re: Supporting Entrepreneurial Education Experiment with a Child

Kickstarter might be a good option to crowdsource funds from family and friends. A Facebook post gets shared and then shared again and next thing you know strangers are contributing. The key to that is to post updates periodically. Perhaps a website or Facebook for the game as well to build up inter...