Bogleheads.org

MedSaver

Mine went down from $590 to $573 for $3MM.

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The peer pressure to live up to your means will be enormous, ... I read this frequently, but who are these peers? Where are they? How do they exert such pressure? I'm a high-income physician and I've never felt any pressure to live up to my means, much less "enormous" pressure. I totally ...

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Although I don't know your specific situation, I was in your shoes 5 years ago. You say $500k+ salary, but my advice is to not count your chickens until they're hatched. In other words, if you're on a partner track or self employed, your trajectory may change suddenly. Maybe partnership isn't what y...

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Watty wrote: ↑Sun Oct 11, 2020 2:59 pm Do you also have a large student loans that are at a higher interest rate?

No other debt.

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+0.375% higher rate is a pretty expensive liquidity cost when you don’t need the liquidity. The only reason to go with the 3.000% is if the down payment would squeeze you. Well, there's the opportunity cost of not investing the extra $90k. More likely than not, stocks will do better than this house.

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Cash reserves/flow is not a problem with either option.

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So I have narrowed down the field to 2 lenders.

Lender 1: 2.625% fixed 30 yr, no points, $1500 underwriting/processing fees, 20% down

Lender 2: 3.00% fixed 30 yr physician mortgage, $1300 fees, 10% down, no PMI

Home price is $900k.

What would you do?

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3) as for a major - all I can say is the people I know that made amazing doctors and got into top schools studied Chemistry, Chemical Engineering, and double majors like Bio & Chem, Psych & Bio, etc. None were just a plain old Bio major which unfortunately has no real career path unless you...

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I doubt op is radonc. That specialty got decimated over the last decade. They’d be lucky to live in the boonies and make $400k. I know a rad onc who works in the boonies and makes $1M. Cool story. I know a radonc who can't find a job for his life and is doing locums. Check out the wasteland of desp...

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It's pretty easy to figure out net collections as long as you know your wRVU. All you need is a ballpark $/wRVU to multiply. I'm sure the OP is using net collections rather than total billing. In my practice we collect about 30% of total billed. Even then, with my last group I was producing net coll...

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I doubt op is radonc. That specialty got decimated over the last decade. They’d be lucky to live in the boonies and make $400k.

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You think people in law and finance are worth big salaries but not doctors improving people’s health and saving lives? Your priorities are messed up. It's not that I assign special value to those fields, or personally think they are "worth big salaries." I'm fine with people charging and ...

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You think people in law and finance are worth big salaries but not doctors improving people’s health and saving lives? Your priorities are messed up.

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I knew I could float the 8 months until I started the new job. Also my reputation in the town was such that another group had offered me a position for those 8 months if I wanted. In the e end they didn’t have a choice because locums would have been more expensive. The only reason they would have sa...

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I was in a somewhat similar position a few years back. I left that practice after 4 years and it was the greatest decision of my professional career. The location was awful and I knew I could make more elsewhere. Why did I stay for 4 years? Well, because I hoped things would get better and because o...

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Yes. Go here: https://www.google.com/chromecast/built-in/tv/

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Thanks. I will look into getting a Chromecast (C-cast) for the one non-smart TV. You mentioned getting two Chromecasts. It doesn't seem that I should need a C-cast for the smart tv. Am I wrong about that? [/quote] Smart tv means different things to different manufacturers. But in general just becau...

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You want to use a 4 devices at once? That could be a problem since hbo maximum simultaneous users per account is 3. If you only want to use 3 or fewer devices at one time I would get 1 hbo max account and 2 chromecasts for your TVs (way cheaper than appletv). The android and laptop can stream it.

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I know a lot of people who are absolutely useless to their parents and act more like emotional and financial vampires. So the whole “safety net” thing may be true sometimes but definitely not always.

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Prenup for pre-marital assets and combine everything we make after marriage I'm not gonna take this bait. Presumably you both agree that a prenup is best. If you haven't sprung this on your fiancé/e yet, let us know how that discussion goes. Agree on a long-term financial goal and stick to it You o...

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You're dreaming big in some ways (desire to be a multimillionaire), but not so much in others (a top salary of $55k). These 2 things are probably not compatible. You've mastered half the equation in that you save a large percentage of your income, but in order to accumulate the wealth you seek, you ...

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Wifi 6, the current wireless standard is fast. I don't know or understand why people need Cat5 or Cat6 wiring in a regular household. I have 25+ devices in my home with Alexa, Nest, smart door, smart garage door, security camera, etc. I thought of installing Cat6 wiring when I bought the home but W...

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cat 5 wiring is not good enough. get cat 6. New2bogle and others, I am really confused about the cable options. The builder insists that CAT5 is good enough. But as I research, there is CAT6, CAT6a, CAT6e, CAT7 and CAT8. What do you folks recommend? True cat5 isn’t really around anymore. Cat5e can ...

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How are you recently out of training and already 5 years into PSLF payments? Did residency count towards PSLF? What has your income been the last couple of years? I think you have yet to save anything of consequence, and are at risk of out spending your incredible income if you do not pay very clos...

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I wouldn’t buy with so many variables. You’re banking on both staying full time for 5 years at new/first jobs, a newborn and one on the way during a pandemic. It also sounds like you’re getting a signing bonus. If, for whatever reason you and/or your spouse leave in a short amount of time, you’re ho...

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Yes I realize my age at completion would not be ideal. I do think I have advantages that "traditional" applicants don't though, like just being able to make my own decision on whether to do this or not as opposed to parents pushing for it, as seems commonplace. I also saw somewhere the av...

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I think most of this conversation is premature. I would plan to readdress this question after: 1) the divorce is final 2) you have been accepted to med school. You plan on a state med school, which is great, but being able to plan which school you actually get admitted to is absolutely not predictab...

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These prices are right in line with what I’m paying ($13k monthly benefit for $500/mo). Whether or not it’s “worth it” is highly personal.

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Ring elite requires Ethernet so it may not be that nuts.

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We are building a home right now in NorCal too. These prices are somewhat higher than what we are seeing. (E.g. 110v gfi interior is $110, outlet with switch is $170). Moving lights for $100 seems crazy (our builder just sent us a diagram and asked what we wanted where). Cat5 option is weird. Cat6 s...

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I’m in NorCal. We only get credits for surplus energy and never get money back. Also, we have to pay $20/month for the privilege of connecting to the grid regardless of surplus produced.

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I would use your actual kWh usage in the summer rather than the amount of your bill to determine how long a battery might last in an outage. Also, given the conditions under which a PSPS would occur (red flag, very hot dry and windy conditions) you might want to be running the AC which is an enormou...

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Why it might depend on where he lives, last year people in some areas were subject to days without power in a row due to PG&E precautionary power shutoffs due to the wildfire danger during high wind conditions. There was a significant increase in interest in solar power with battery backups as ...

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Why don’t you want to do solar without a power wall? 2020 federal tax refund is 26% drops to 22% for 2021 then expires so if you’re gonna get solar get it soon. I think most powerwalls can be added after solar if you decide that’s what you want to do. Prices and efficiency for both should continue t...

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I don’t know about optho specifically, but my specialty’s job market fell off a cliff 3 months ago and is now hovering about 60% of where it was. Hiring will largely track the broader economy (may lag by 3-6 months due to retirement lead times). Most current job openings are pure academics (tend to ...

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Well, you’ve done half the calculation. But if your house drops 5% you lose 25% of your equity. Funny thing, leverage. But lets be honest about this. The long term trend is up. Even if I only get back inflation, my equity is increasing at 5x inflation. There’s lots of research on this. Broad stock ...

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Well, you’ve done half the calculation. But if your house drops 5% you lose 25% of your equity. Funny thing, leverage.

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CurlyDave wrote: ↑Sun May 24, 2020 11:46 pm Also, money invested in Real Estate has, in general, done better than money invested in stocks.

This can't be true.

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Just a heads up. I would use another bh account in the future. You’ve come dangerously close to doxing yourself. Medicine is a small world and ucsf med students interested in urology and finance with a partner of 4 years is even smaller.

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I knew I wasn’t going to do academics so I started on PAYE and consolidated to a low rate after fellowship (5 year term). I comfortably pay about $4k/month currently and am nearly done. I don’t remember how much I paid in residency. I think a few hundred. Honestly the difference between paying your ...

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These precise calculations are kind of pointless at this early stage. You presumably know where you’re going, but you won’t know your exact living expenses until you’re there for some time. There are countless expenses you may not be thinking of apart from COL. Will you be far from home? If so, add ...

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No MD here in the states would work for $100k, even the worst paid specialties like pediatrics make more like $180k. I’m sure there are non-monetary things like good insurance, less/no medmal, free education that can make up for some part of the difference but to me your salary still seems low. You ...

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I was in your shoes several years ago. Why not lock a low (albeit not 1.6%) rate for a short term like 5 years? Pay the minimum on that and invest the rest.

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Thank you. This is exactly what I was looking for.

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I will be a partner with W2 income. No 1099. Is Solo the same as Individual 401k? This is why I'm confused. Technically the group has a 401k plan (I have the summary plan document), but it is not "set up" with any one banking institution. One partner uses Morgan Stanley, one uses Schwab an...

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Thanks for the reply. I'm not so concerned about the contributions or allocations. I'm just confused by exactly what account I tell Schwab I need to open. On their website they have something called an Individual 401k. Is this the correct account to open? In talking to my partners they say it is a T...

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I'm in a small private medical practice and have been told I need to set up a 401k account in order to start receiving retirement funds. I haven't been given much direction beyond that it needs to be a 401k account, it will take 6 years to fully vest and will be funded through a combination of defer...

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Starting to see some downward pressure on high end housing here in NorCal around 5% so far. Not much movement yet in mid/lower tiers.

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This. Healthcare is going through weird transitions from talking to doctors around the country. Private practices are slowing down/to somewhat shutting down to avoid spreading covid and limiting in-person appts. The clinics with large overheads are worried as they will be cashflow negative for awhi...

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I am a doctor. But there are way more people on the roads than I expected. I don't think the people in my area quite "get it" yet. That's going to change quickly.

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