Search found 63 matches

by lovenox11
Sat Aug 20, 2016 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: How should I manage relocation money from employer?
Replies: 6
Views: 600

Re: How should I manage relocation money from employer?

One thing to keep in mind is that your employer will also withhold as if you made that additional money every paycheck. That's always a bit of a shock in terms of how low the net amount will be. You might be able to adjust your withholding for the rest of the year if you anticipate some big deducti...
by lovenox11
Sat Aug 20, 2016 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: How should I manage relocation money from employer?
Replies: 6
Views: 600

How should I manage relocation money from employer?

I'm making a move across the country with family and my employer (a hospital system) is providing $20k towards relocation. They told me it would be dispersed into two initial bi-weekly paychecks (both in 2016), and I can use it for whatever moving expenses are needed. This is nice, but I want to car...
by lovenox11
Thu Dec 17, 2015 10:27 pm
Forum: Investing - Help with Personal Investments
Topic: Current portfolio help and future directions
Replies: 8
Views: 1115

Re: Current portfolio help and future directions

For my student loans, I have been in IBR for 5 years, and since I work at a university, I am likely eligible to apply for Public Service Loan Forgiveness for around this time in 2020. I would be careful with assuming this. You may be part of a group but employed by a university. The only true way t...
by lovenox11
Thu Jan 15, 2015 11:48 am
Forum: Personal Finance (Not Investing)
Topic: physician loan refi from ARM to Fixed Q
Replies: 0
Views: 225

physician loan refi from ARM to Fixed Q

I am a resident, like many others have a physician loan (5-1ARM at 2.875, original 200k, now with 188k balance). I am planning to refinance to a fixed rate loan during last 6months of the ARM period (about 1yr from now). Likely into a 20yr or 15yr. Has anyone gone through process of refinancing a ph...
by lovenox11
Mon Dec 08, 2014 8:19 am
Forum: Investing - Help with Personal Investments
Topic: STRS Ohio Choice - What to do?
Replies: 15
Views: 3743

Re: STRS Ohio Choice - What to do?

If you are in it for the long haul, I'd vote the DB option. Hard to beat that type of security when so much of your other savings may be subject to market fluctuations. I'm not sure how much security is there. The system was significantly underfunded which lead to big changes that are now in place ...
by lovenox11
Wed Dec 03, 2014 12:03 am
Forum: Investing - Help with Personal Investments
Topic: teacher retirement plans and 403/457 limits
Replies: 13
Views: 2413

teacher retirement plans and 403/457 limits

Are state retirement plans (for example STRS Ohio or CalPERS) separate from contribution limits of 401/403/457 plans? For example teacher retirement system in ohio (STRS) has a defined contribution plan which requires employee to contribute 14% and employees 6% of the gross salary. Some employers of...
by lovenox11
Mon Jun 02, 2014 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Medical Residency Retirement - Why don't we get a match?
Replies: 57
Views: 7171

Re: Medical Residency Retirement - Why don't we get a match?

At Ohio State all residents (an faculty) are automatically enrolled in the STRS (state teachers retirement system of Ohio). We then have mandatory 12% withdrawn from our paycheck pre-tax (by 2016 this will be 14% as their retirement system is underfunded) and the hospital contributes 8% for a total ...
by lovenox11
Tue Jan 07, 2014 2:06 pm
Forum: Investing - Help with Personal Investments
Topic: $1M in debt
Replies: 49
Views: 14683

Re: $1M in debt

Thanks for the input. The loans are consolidated as direct loans, we're paying under IBR, and believe it or not, we're both currently working for 503 organizations, thus potentially eligible for PSLF in 6(me)/9(her) years. I should have mentioned this above. PSLF starts from the time your consolida...
by lovenox11
Fri Nov 22, 2013 1:11 am
Forum: Personal Finance (Not Investing)
Topic: Stay put as mortgage slave or relocate?
Replies: 23
Views: 3820

Re: Stay put as mortgage slave or relocate?

Any thoughts of moving out of CA all together? Move to Texas, Arizona, Indiana, Ohio. Salary will be higher, homes 50% cheaper, all other expenses lower as well.
by lovenox11
Sun Nov 17, 2013 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Med School Refinance
Replies: 17
Views: 2150

Re: Help with Med School Refinance

Hello Boglehead community, I am one year out of residency now and am struggling to make some long term sense of my student loans. I currently owe ~$600,000 through multiple lenders with an overall average interest rate of 5.6%. (ranging from 1.25% to 8.25%) I won't be able to pay this off until I'm...
by lovenox11
Sun Nov 17, 2013 2:23 pm
Forum: Personal Consumer Issues
Topic: how much more expensive is a bigger home?
Replies: 68
Views: 6709

how much more expensive is a bigger home?

Any bogleheads with experience of upgrading from a medium size home (i.e. 4bedroom, 2bath, 2000-3000 sqfeet) to a much larger home (i.e. 4500-6000sqfeet)? So far in a smaller home one can do everything on their own, but I imaging in much larger home there are expenses that I cannot even come to thin...
by lovenox11
Sun Oct 13, 2013 7:04 am
Forum: Investing - Help with Personal Investments
Topic: Open Source Stanford Finance of Retirement and Pensions Cour
Replies: 4
Views: 1113

Open Source Stanford Finance of Retirement and Pensions Cour

This was on NYTimes article. But the course is starting tomorrow. Taught at graduate level though Stanford.

http://online.stanford.edu/course/rauh-finance
by lovenox11
Tue Aug 27, 2013 3:33 pm
Forum: Personal Consumer Issues
Topic: Childcare costs
Replies: 43
Views: 4295

Re: Childcare costs

We are both working parents; have two kids under 3yo. Our monthly childcare cost is $1,900.00/mo. This takes out a huge chunk of our paycheck; more than the mortgage. What is the experience of others on this forum with childcare costs? At what point do these costs go down? Op - out of curiosity, wh...
by lovenox11
Tue Aug 27, 2013 1:16 pm
Forum: Personal Consumer Issues
Topic: Childcare costs
Replies: 43
Views: 4295

Childcare costs

We are both working parents; have two kids under 3yo. Our monthly childcare cost is $1,900.00/mo. This takes out a huge chunk of our paycheck; more than the mortgage.

What is the experience of others on this forum with childcare costs? At what point do these costs go down?
by lovenox11
Tue Aug 13, 2013 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Transfers
Replies: 14
Views: 3353

Re: Student Loan Transfers

Since Direct Loan system was started when interest rates were already high (6.8% fixed for grad students) and all rates were fixed I'm not sure how you can have 2.3% variable loan.

In any case the best resource is to contact Federal Student Loan Ombudsman:
https://studentaid.ed.gov/repay-loans/d ... -ombudsman
by lovenox11
Mon Aug 12, 2013 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Physician(s) changing Jobs - Advice
Replies: 25
Views: 4090

Re: Physician(s) changing Jobs - Advice

We were not looking for new jobs but my offer came from the Healthcare System I trained at and is in a very nice area and will likely offer less stress then current position. It is an employed job with a generous guaranteed salary and nice bonus potential. Good benefits. Less clinical hours then th...
by lovenox11
Wed Aug 07, 2013 3:05 pm
Forum: Investing - Help with Personal Investments
Topic: actually rebalancing your 401k/401a
Replies: 5
Views: 517

actually rebalancing your 401k/401a

I have done my first ever rebalance of retirement account and had some concerns. All of my investements are in 401/roth plans. I have goal to rebalance every summer. Currently had the following : large cap: 47.2% (desired 45%) small cap: 5.46% (desired 5%) Intl: 20.15% (desired 20%) bond: 27.12% (de...
by lovenox11
Sun Jul 28, 2013 8:58 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone investing in both Ohio OPERS and Ohio457?
Replies: 4
Views: 882

Re: Anyone investing in both Ohio OPERS and Ohio457?

It looks like there was substantial reform of the OPERS system (mainly the traditional pension part).
The one thing affecting defined contribution is vesting, which is now 20%/yr with 100% vested in five years.
https://www.opers.org/News/ORSC/changes.shtml
by lovenox11
Sun Jul 28, 2013 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone investing in both Ohio OPERS and Ohio457?
Replies: 4
Views: 882

Anyone investing in both Ohio OPERS and Ohio457?

Would like to hear experience of those investing in OPERS and Ohio457 as I am potentially looking to work in the state system. Their funds look quite good and expense ratios are low. I'm looking to setup a 3 fund portfolio using both plans. I plan to contribute max to each fund/year and then potenti...
by lovenox11
Fri May 17, 2013 3:26 pm
Forum: Investing - Help with Personal Investments
Topic: STRS Ohio reducing annual fees
Replies: 0
Views: 374

STRS Ohio reducing annual fees

STRS Ohio Defined Contribution plan has announced reduction in anual fees (see bellow). They also started offering target funds (STRS Target Choice 2020,2025,2030,2035,2040,2045,2050) & a new fund called STRS Russel Midcap Index Return. STRS Money Market choice: new fee: 0.10 (old 0.18) STRS Bar...
by lovenox11
Sat May 04, 2013 3:18 pm
Forum: Personal Consumer Issues
Topic: Does your home have solar panels?
Replies: 77
Views: 7556

Does your home have solar panels?

The prices are coming down; just wondering how many of you out there have installed solar panel systems in your homes?
I'm interested sometime in the future to have big-enough system to power the house and charge a plug-in vehicle.
by lovenox11
Tue Apr 30, 2013 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: cost of inground pool (Florida)
Replies: 2
Views: 670

cost of inground pool (Florida)

Anyone with experience of owning a home with inground pool (Florida in particular). For example here is a home in Bradenton, FL (m) How much does it cost per year to have inground pool in florida outside the home (single family home <3000sqfeet): (water, energy to heat it, maintenance, increased cos...
by lovenox11
Tue Apr 02, 2013 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: appropriately designating beneficiaries for term life ins
Replies: 13
Views: 893

appropriately designating beneficiaries for term life ins

I'm deciding how to designate beneficiaries on my term life policy. I would like my wife to be 1st to get 100%, but I also want to add my kids in case they are next in line. The agent told me not to list kids under 18yo because the payout will go to the state and the state will give out this money t...
by lovenox11
Mon Mar 25, 2013 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: arranging W4 withholdings among two incomes
Replies: 6
Views: 641

arranging W4 withholdings among two incomes

We are eligible for 4 W4 withholdings. We have identical incomes.

Does it matter how one arranges the W4 withholdings? For example, should I claim all 4 from my check? Or divide evenly with 2 for me and 2 for her?
by lovenox11
Wed Mar 13, 2013 12:29 pm
Forum: Investing - Help with Personal Investments
Topic: STRS Ohio
Replies: 4
Views: 587

Re: STRS Ohio

Sure, its nice to be doing shift-work. Much better life-work balance.
by lovenox11
Tue Mar 12, 2013 10:13 pm
Forum: Investing - Help with Personal Investments
Topic: 28, new to investing, what would you do with my 3k tax retur
Replies: 12
Views: 1365

Re: 28, new to investing, what would you do with my 3k tax r

I would put that money into an emergency fund. I'm sure things will need to be fixed in that house in the next 4 years.

Just curious, why didn't your parents give you that money to pay off your student loans instead of buying a car and a house?
by lovenox11
Tue Mar 12, 2013 10:06 pm
Forum: Investing - Help with Personal Investments
Topic: STRS Ohio
Replies: 4
Views: 587

STRS Ohio

Anyone out there investing through STRS Ohio (m) Why is the site of such poor quality. It doesn't show anything except your funds, and growth for some unspecified period. No option to make graphs, see trends like that with Vanguard and any other investment site. These state pension systems have a to...
by lovenox11
Sat Mar 02, 2013 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Tracking credit card spending
Replies: 32
Views: 2040

Re: Tracking credit card spending

I use my own excel spreadsheet. The biggest advantage is the portability and customization.

I save it into gmail or google docs and have access from any computer.
by lovenox11
Sat Mar 02, 2013 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 11546

Re: Is Med School still a good financial investment?

There is a tone on this thread that only physicians take out large student loans. More importantly perception of student loan burden that is disproportional to income. That is simply not the case. How much do you think your engineering or comp sci or polit sci undergrads take out? I know plenty of t...
by lovenox11
Sat Mar 02, 2013 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 11546

Re: Is Med School still a good financial investment?

I think medicine is a great career that is dynamic and very interesting and pays well than most fields. You are basically guaranteed a starting six figure salary (at least 120k) after you finish residency. Also, residency is not bad as you get at least 50k with full benefits. In the real world yes y...
by lovenox11
Wed Feb 27, 2013 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: What now?
Replies: 14
Views: 2068

Re: What now?

Well, what about paying the student loan debt in a 10year repayment plan and aggressively investing the rest. Since we are all investors with long-term goals in mind wouldn't it make sense to invest as much as possible in the beginning? What I'm saying is heavily saving in the first 5 years will pro...
by lovenox11
Sat Jan 26, 2013 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Financing medical school. Age 34, some savings.
Replies: 63
Views: 7343

Re: Financing medical school. Age 34, some savings.

I'm currently a resident and here is some useful advise (from the front-lines so to speak) Medicine is THE BEST FIELD IN USA. Why? 1. Guaranteed 6-figure salary 2. Best loan repayment opt ions -PSLF vs Underserved area work vs Private hospital contracts with repayment terms vs Military -It is quite ...
by lovenox11
Sat Jan 26, 2013 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you expect your kids to pay for college?
Replies: 237
Views: 29141

Re: How much do you expect your kids to pay for college?

None. I fully believe kids need to be taught financial responsibility at a young age, and should work and save while in their high school years and during summer breaks as well as paying your way thru college with part-time work. Studies show kids that pay their own way through school take their ed...
by lovenox11
Sat Jan 26, 2013 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you expect your kids to pay for college?
Replies: 237
Views: 29141

Re: How much do you expect your kids to pay for college?

They will probably pay 30k/yr; total of 120k

But I will not pay for them. I will do everything to set them up academically to succeed (i.e. good middle/HS helping them get scholarships). Then they will take out loans to cover the rest and learn financial responsibility of having debt.
by lovenox11
Sun Nov 25, 2012 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: how to save on healthcare expenses
Replies: 7
Views: 1081

how to save on healthcare expenses

I'm in my 20s and started working for a company. My health plan deductible is $260/mo (for family) and gets deducted pre-tax from paycheck. Then I have to pay 10% of all visits/hospital stays. I have a $2k deductible. I'm trying to figure out how I can save money on the copays I'm paying out (includ...
by lovenox11
Mon Nov 12, 2012 1:50 pm
Forum: Investing - Help with Personal Investments
Topic: Ohio State STRS or ARP??
Replies: 7
Views: 1871

Re: Ohio State STRS or ARP??

I'm at OSU as well and I went with STRS DC plan. It has all the advantages of early vesting and takes away risk of not staying at OSU before 5yrs are over. Also, the new reform carries a yearly 1% increase from employee. Currently its 10%, and in 4yrs wil be 14%. My questions is this. I currently ha...
by lovenox11
Sat Oct 06, 2012 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Forgiveness Program for physicians
Replies: 14
Views: 2757

Re: Student Loan Forgiveness Program for physicians

I'm currently a resident and also plan to utilize PSLF. Here are some caveats that should be known: [1] You need to be in IBR each year -print out statements for each year showing your loans are in IBR [2] When you apply for PSLF you need to be employed by a non-profit; and when you receive loan for...
by lovenox11
Tue Sep 04, 2012 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: your working life earnings and retirement amount
Replies: 5
Views: 1527

your working life earnings and retirement amount

I'm <30yo and would like to hear form those that are retired. Looking at your worklife earnings how much were you able to retire on? What were your earnings from 30yo to 60/65yo? What % of your salary did you retire on? Were you able to retire on time? Any early retirees? For early retirees, what wa...
by lovenox11
Sat Sep 01, 2012 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Newer Attending Physician In Need of Your Expertise!
Replies: 57
Views: 7598

Re: Newer Attending Physician In Need of Your Expertise!

Hello there. My wife and I are currently residents in a 4 year program. We have no family/friends in the area and have a 12month old child. We have a total of $435k @6.8% fixed government loans and own a $200k home (zero down & 5-1ARM @ 2.875%). Our monthly mortage (including taxes & insuran...
by lovenox11
Fri Aug 24, 2012 9:27 pm
Forum: Investing - Help with Personal Investments
Topic: advice on Ohio State Univ Retirement Plan options
Replies: 30
Views: 7863

Re: advice on Ohio State Univ Retirement Plan options

I decided to go with Defined Contribution Plan. The main reason for this is that there are many changes coming in the state teachers retirement system. The system is basically broke, and they are doing everything possible to reduce payouts. Their funding period used to be 41.2years; and currently th...
by lovenox11
Mon Jul 30, 2012 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Resident Physician - need of major help.
Replies: 75
Views: 11637

Re: Resident Physician - need of major help.

Its always nice to see posts by residents, because many of us make such simple mistakes at the beginning of training. I'm just starting my training and thanks to whitecoatinvestor and this site I'm beginning to organize my financial life. We have 6mo emergency fund. We contribute 20% of our income (...
by lovenox11
Fri Jul 13, 2012 10:39 pm
Forum: Investing - Help with Personal Investments
Topic: advice on Ohio State Univ Retirement Plan options
Replies: 30
Views: 7863

Re: advice on Ohio State Univ Retirement Plan options

So i'm now at OSU and making the decision with what plan to choose: It seems that Combined Plan may be a good option. Because I start the clock going for defined benefit (my residency is 4 years). So if I stay on for a few more years after that I may be eligible for some good benefits at age 60. But...
by lovenox11
Sun May 06, 2012 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: take lower selling price or higher price + closing costs
Replies: 1
Views: 309

take lower selling price or higher price + closing costs

I'm a new home buyer and I have a decision to make. Option A: buy at $200k with 3k closing costs Option B: buy at $197k with 0 closing costs In my mind Option B is better because going forward there will be less property taxes to pay. The tradeoff is I have to use 3k of my money. What other consider...
by lovenox11
Mon Mar 19, 2012 7:09 pm
Forum: Investing - Help with Personal Investments
Topic: advice on Ohio State Univ Retirement Plan options
Replies: 30
Views: 7863

Re: advice on Ohio State Univ Retirement Plan options

Ok thanks for the above advise. I looked at the STRS vs ARP option again. The STRS (defined contribution option) has one big advantage; in the 5th year you get another chance to change your plan type (so can change it to defined contribution or ARP or keep the same). Having such flexibility may make...
by lovenox11
Sun Mar 18, 2012 8:24 pm
Forum: Investing - Help with Personal Investments
Topic: advice on Ohio State Univ Retirement Plan options
Replies: 30
Views: 7863

Re: advice on Ohio State Univ Retirement Plan options

Having done that you probably have a whale load of student loans to work away on, remember generally paying off student loans (having done the 10% into your DC scheme) is a very good way of 'investing' (I am assuming here that your loans are not at 2-3%, then it becomes trickier, the breakeven poin...
by lovenox11
Sat Mar 17, 2012 9:15 pm
Forum: Investing - Help with Personal Investments
Topic: advice on Ohio State Univ Retirement Plan options
Replies: 30
Views: 7863

Re: advice on Ohio State Univ Retirement Plan options

You have basically two choices. STRS and ARP. STRS is defined benefit, means you are guaranteed certain payout at some combination of age and number of years in system. If you plan on staying in Ohio for 5 years or more, I would suggest you join STRS. Its a good deal and peace of mind. When stock m...
by lovenox11
Sat Mar 17, 2012 6:59 pm
Forum: Investing - Help with Personal Investments
Topic: advice on Ohio State Univ Retirement Plan options
Replies: 30
Views: 7863

Re: advice on Ohio State Univ Retirement Plan options

How long is your residency? What is the vesting schedule for each? Do you plan on staying for a fellowship after residency? If you are doing a 3 year residency and the vesting schedule is 5 years for one and immediate for the other then the "free money" associated with the company match/v...
by lovenox11
Sat Mar 17, 2012 11:04 am
Forum: Investing - Help with Personal Investments
Topic: advice on Ohio State Univ Retirement Plan options
Replies: 30
Views: 7863

advice on Ohio State Univ Retirement Plan options

I will be joining Ohio State University this summer for residency. I have been looking through their benefits plan and I'm a bit overwhelemed by their options. -I don't have to pay social security taxes, and I have an option to enroll into the plans bellow. The options are: [1] State Teachers Retire...
by lovenox11
Thu Feb 23, 2012 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Interesting analysis for physicians: MDs deceptive income
Replies: 119
Views: 11510

Re: Interesting analysis for physicians: MDs deceptive incom

I'm finishing up medical school and I find that this analysis is missing a crucial point: there are many options available to have someone else pay for your medical school loans (than any other profession). Looking at the numbers it is as if the author is manipulating the data to make being a doctor...
by lovenox11
Sun Feb 12, 2012 11:11 am
Forum: Investing - Help with Personal Investments
Topic: have an old custodial account but no certificate
Replies: 5
Views: 430

Re: have an old custodial account but no certificate

My advice is to pay the fee and stop this sore from festering. Just get it over with. Yeah, it is becoming a big headache. My wife cannot sell it herself, but she keeps geting the dividend checks each month ( a tiny amount) and then 1099 forms on it. Paperwork is paperwork, unless you have a carefu...