Search found 1384 matches

by goodenyou
Sat Mar 22, 2014 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: How to help my son with law school loans?
Replies: 58
Views: 4231

Re: How to help my son with law school loans?

It sounds like your child is a responsible hard-working person. If you have the means, why not. He can enjoy the relief of debt while he is young. My only concern would be if you had multiple children; this often can be dicey if you do it for one and not others.
by goodenyou
Sat Mar 22, 2014 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question:1099-C
Replies: 5
Views: 688

Tax Question:1099-C

My SIL was the trustee for the estate of MIL. MIL passed away in 2011 few years after her husband. The house was under water (San Diego/Carlsbad real estate). House went into foreclosure. SIL received a 1099-C from the IRS and she is concerned that taxes are owed. Any suggestions or advice? What oth...
by goodenyou
Fri Mar 21, 2014 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Do you love your job? What do you do?
Replies: 134
Views: 15465

Re: Do you love your job? What do you do?

Let's hear it from all us MDs. Crickets. Interesting. If you are interested in MDs job satisfaction, just review recent polls. Job satisfaction is low, as expected. I don't have to elucidate the reasons;they are obvious. The changes to healthcare are lowering job satisfaction for doctors and also s...
by goodenyou
Thu Mar 20, 2014 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Is it ethical to put this on your resume?
Replies: 27
Views: 4367

Re: Is it ethical to put this on your resume?

Don't lie. What is going to happen when you run for the United States Senate or get nominated for an Ambassadorship?
You will win or be confirmed. You can lie on your taxes too. It is acceptable these days.
by goodenyou
Thu Mar 20, 2014 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Do you love your job? What do you do?
Replies: 134
Views: 15465

Re: Do you love your job? What do you do?

Let's hear it from all us MDs. Crickets. Interesting. If you are interested in MDs job satisfaction, just review recent polls. Job satisfaction is low, as expected. I don't have to elucidate the reasons;they are obvious. The changes to healthcare are lowering job satisfaction for doctors and also s...
by goodenyou
Mon Mar 03, 2014 5:09 pm
Forum: Investing - Help with Personal Investments
Topic: 529 contributions and future tuition costs
Replies: 46
Views: 3749

Re: 529 contributions and future tuition costs

At those projections, it may not be wise to go to college at all. You may be better off finding a skilled labor job. I can't imagine paying $500k+ for an education, but, then again, I don't think anyone imagined paying $250k for private school 18 years ago. It is getting beyond absurd. And even at ...
by goodenyou
Sun Mar 02, 2014 6:24 pm
Forum: Investing - Help with Personal Investments
Topic: 529 contributions and future tuition costs
Replies: 46
Views: 3749

Re: 529 contributions and future tuition costs

At those projections, it may not be wise to go to college at all. You may be better off finding a skilled labor job. I can't imagine paying $500k+ for an education, but, then again, I don't think anyone imagined paying $250k for private school 18 years ago. It is getting beyond absurd.
by goodenyou
Sat Mar 01, 2014 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATE: [physician, career options, life options]
Replies: 93
Views: 11898

Re: UPDATE: [physician, career options, life options]

I would caution taking the "suck it up because every job has it's downside" advice. The job as a physician is uniquely different. The stakes are a lot higher. You are not doing paperwork, meeting a deadline or hitting sales goals. Whether you are treating mental illness or doing complex surgery, you...
by goodenyou
Fri Feb 28, 2014 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATE: [physician, career options, life options]
Replies: 93
Views: 11898

Re: UPDATE: [physician, career options, life options]

I would reduce my hours and look for alternate income streams. I knew an Ivy-Trained Urologist who quit after a few years and did disability exams in the state of Ohio. The guy made $300-400k doing exams on "disabled" people. Some were legit. You can also do IME exams. My best friend is an orthopaed...
by goodenyou
Thu Feb 27, 2014 8:16 am
Forum: Personal Finance (Not Investing)
Topic: California vs. Texas
Replies: 32
Views: 3758

Re: California vs. Texas

If you are highly compensated and you don't want to pull more and more of the cart, you go to Texas. If you don't care about paying 9.3%-12.3% of your income on $49,774 and up, then you go to California. Some people can live with that and some cannot. It is a matter of opinion. I went to Texas to r...
by goodenyou
Wed Feb 26, 2014 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: California vs. Texas
Replies: 32
Views: 3758

Re: California vs. Texas

If you are highly compensated and you don't want to pull more and more of the cart, you go to Texas. If you don't care about paying 9.3%-12.3% of your income on $49,774 and up, then you go to California. Some people can live with that and some cannot. It is a matter of opinion. I went to Texas to re...
by goodenyou
Wed Feb 26, 2014 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Re: Billing for annual physicals
Replies: 73
Views: 9517

Re: Billing for annual physicals

Most people would be shocked at how little physicians are compensated for an office visit, especially from government payers. They would be more surprised how little they are payed for some complex surgery.
by goodenyou
Wed Feb 26, 2014 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Do children become less expensive as they grow up?
Replies: 93
Views: 10423

Re: Do children become less expensive as they grow up?

My professor once told me that "the first 30 years are the most difficult and expensive when raising children. He was absolutely correct.
by goodenyou
Wed Feb 26, 2014 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: harvard med school vs. penn med+full tuition scholarship
Replies: 115
Views: 19359

Re: harvard med school vs. penn med+full tuition scholarship

You are making a very good decision to pursue alternate pathways in medicine. If you end up as a community doctor "in the trenches" seeing volumes of patients (or doing volumes of surgery), it won't matter a bit where you went to medical school. If you want to leverage your prestigious medical schoo...
by goodenyou
Wed Feb 26, 2014 7:08 pm
Forum: Investing - Help with Personal Investments
Topic: what's your number?? (for married couples)
Replies: 70
Views: 7989

Re: what's your number?? (for married couples)

Get multiple children through college over the next 15-20 years debt-free and your goal will be VERY daunting. If you area accustomed to a comfortable lifestyle with earned income and you want to maintain that lifestyle, your number will also be daunting. If you can live somewhat simplistically belo...
by goodenyou
Mon Feb 24, 2014 8:41 pm
Forum: Investing - Help with Personal Investments
Topic: Where do you invest your child's savings?
Replies: 30
Views: 3835

Re: Where do you invest your child's savings?

My kids got a few shares of McDonald's stock for their Christening 15 years ago in an UGMA from a family member. I have been buying $100 per month of additional stock since then. It has grown nicely.
by goodenyou
Mon Feb 24, 2014 8:29 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Plan Question
Replies: 14
Views: 1698

Re: 529 Plan Question

In Texas.......I use Utah for 529. The hard part is figuring out which plan to use for each of my 3 children. As they get close to college, it appears that most of the money is in, or will be in, near ZERO interest rate investments. But, it is protected from losses IF you plan to use it as soon as y...
by goodenyou
Thu Feb 20, 2014 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

I think the best idea is for her to quit but find a hobby/business that can provide a little income. If she likes writing, start a blog. If she likes doing artwork, sell her stuff on Etsy. You'd be surprised how much money you can make online doing a relatively little amount of work. There is a lot...
by goodenyou
Thu Feb 20, 2014 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

Well my wife makes in the low 2's as an ER nurse which is not a very, very high demand specialty. She can work anywhere, anytime you have a hospital and not enough ER nurses that want to work. It sounds like you've got a good deal with the NP thing going, but I don't know if those results are typic...
by goodenyou
Thu Feb 20, 2014 11:18 am
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

The specialty NP profession is the Deal of the Century. She could command a lot more than she could as a nurse (RN) with less time at work and awful hours. She has been offered $150k-$175k/year to work full-time in a busy practice. The only wish she has is for more time to juggle it all. She is a g...
by goodenyou
Thu Feb 20, 2014 11:15 am
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

The specialty NP profession is the Deal of the Century. She could command a lot more than she could as a nurse (RN) with less time at work and awful hours. She has been offered $150k-$175k/year to work full-time in a busy practice. The only wish she has is for more time to juggle it all. She is a g...
by goodenyou
Wed Feb 19, 2014 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

The specialty NP profession is the Deal of the Century. She could command a lot more than she could as a nurse (RN) with less time at work and awful hours. She has been offered $150k-$175k/year to work full-time in a busy practice. The only wish she has is for more time to juggle it all. She is a g...
by goodenyou
Tue Feb 18, 2014 12:44 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Catch-Up Provision
Replies: 3
Views: 453

Re: 401K Catch-Up Provision

I believe the Catch-Up provision becomes valid in the year you turn 50. So, yes, if you turn 50 this year, you can.
by goodenyou
Tue Feb 18, 2014 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

A lot depends how many children you have as well. Getting up at an extra hour early at 5:00AM to get ready and get the kids to school to get to part-time work in order to finish before pick-up got old in a hurry. Add into the mix of missed school events, complicated vacation planning around holidays...
by goodenyou
Tue Feb 18, 2014 6:49 am
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

Greetings. My spouse has been working in her current position for a little over a year. There are positives and negatives, like any job. Yet after completing our taxes with and without her w2, and taking into account child-care, convenience food expenses (she likes to cook), and gas, her response w...
by goodenyou
Mon Feb 17, 2014 7:25 pm
Forum: Investing - Theory, News & General
Topic: Safe Withdrawal Rate
Replies: 91
Views: 10733

Re: Safe Withdrawal Rate

Personally I worry more about physcial health in retirement than fiscal.
Unfortunately, you may have much less control over physical health than you do over fiscal health.
by goodenyou
Mon Feb 17, 2014 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

I actually recently went on a date with a woman who is in medical school. She said she'd kill herself if she had to be a stay at home mom. Her parents both worked when she was growing up, so I guess she is used to that type of environment as being the "normal" one. It's probably a lot more common t...
by goodenyou
Mon Feb 17, 2014 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: Prioritizing investments- HSA goes where?
Replies: 27
Views: 3868

Re: Prioritizing investments- HSA goes where?

Based on the consensus in this thread, I updated the Prioritizing investments wiki page with this advice. Investors who are able to place their investments in several different kinds of accounts (such as taxable accounts, 401k, or IRA) need to decide which ones to prioritize. In order to maximize t...
by goodenyou
Mon Feb 17, 2014 3:12 pm
Forum: Investing - Theory, News & General
Topic: Safe Withdrawal Rate
Replies: 91
Views: 10733

Re: Safe Withdrawal Rate

IMO, the linchpin to a Safe Withdrawal Rate is to have the lowest fixed or recurring costs possible when entering retirement. A paid off house and no consumer debt is important, if not imperative. If your ability to spend discretionarily is governed by investment return, and you have had the mindset...
by goodenyou
Mon Feb 17, 2014 12:25 am
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

You can't have it all. If it is important to have a parent be available full-time to raise children, then one spouse has to choose. My wife can command a very good income ($100k+) as a highly specialized Nurse Practicioner with specialty certification. She went back to school in her late 30's with ...
by goodenyou
Sun Feb 16, 2014 9:59 pm
Forum: Investing - Help with Personal Investments
Topic: Prioritizing investments- HSA goes where?
Replies: 27
Views: 3868

Re: Prioritizing investments- HSA goes where?

Where would it be in your list if it is a post-tax (non-payroll deducted) HSA? You can still deduct your contributions from your taxable income on both federal and state returns (provided your state recognizes HSAs). I still place HSAs very high on the list although the contribution limit is relati...
by goodenyou
Sun Feb 16, 2014 9:46 pm
Forum: Investing - Help with Personal Investments
Topic: Total Int. Stock % allocation?
Replies: 46
Views: 4273

Re: Total Int. Stock % allocation?

For a three Admiral fund portfolio, should one use the 70%/30% Tot. Stk. to Tot. Int. Stk. ratio contained in the Target & LifeStrategy funds? lks: No one knows what will be the best ratio U.S./International stock ratio during different periods ahead. The Vanguard experts who designed the Target an...
by goodenyou
Sun Feb 16, 2014 9:37 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest $1.4 mil inheritance?
Replies: 74
Views: 10049

Re: How to invest $1.4 mil inheritance?

With all due respect, and I would be saying this OP if it were you who inherited the money... Your wife should be asking the question or if you must, it should be asking the question for her... She should keep this in her name only and it should have no association with you. This will shield it fro...
by goodenyou
Sun Feb 16, 2014 9:28 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest $1.4 mil inheritance?
Replies: 74
Views: 10049

Re: How to invest $1.4 mil inheritance?

Wow this wonderful and amazing to have tall this free advice. Thanks so much everyone for posting. A few clarifications that might be useful: 1. $$$ will remain in wife's name, though it is 100% shared and are figuring out how to invest it together since we view all of our money as shared. We have ...
by goodenyou
Sun Feb 16, 2014 8:53 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest $1.4 mil inheritance?
Replies: 74
Views: 10049

Re: How to invest $1.4 mil inheritance?

With all due respect, and I would be saying this OP if it were you who inherited the money... Your wife should be asking the question or if you must, it should be asking the question for her... She should keep this in her name only and it should have no association with you. This will shield it fro...
by goodenyou
Sun Feb 16, 2014 8:35 pm
Forum: Investing - Help with Personal Investments
Topic: Total Int. Stock % allocation?
Replies: 46
Views: 4273

Re: Total Int. Stock % allocation?

For a three Admiral fund portfolio, should one use the 70%/30% Tot. Stk. to Tot. Int. Stk. ratio contained in the Target & LifeStrategy funds? lks: No one knows what will be the best ratio U.S./International stock ratio during different periods ahead. The Vanguard experts who designed the Target an...
by goodenyou
Sun Feb 16, 2014 7:48 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest $1.4 mil inheritance?
Replies: 74
Views: 10049

Re: How to invest $1.4 mil inheritance?

With all due respect, and I would be saying this OP if it were you who inherited the money... Your wife should be asking the question or if you must, it should be asking the question for her... She should keep this in her name only and it should have no association with you. This will shield it fro...
by goodenyou
Sun Feb 16, 2014 7:36 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest $1.4 mil inheritance?
Replies: 74
Views: 10049

Re: How to invest $1.4 mil inheritance?

Interesting that so many are suggesting to pay off the $400K mortgage. Not something I had really thought of. Very cheap $$$ (can't remember the rate but I think low 3's%), + major tax benefits to keeping mortgage. Why pay it off? You will read many threads and thousands of opinions of why or why n...
by goodenyou
Sun Feb 16, 2014 6:07 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest $1.4 mil inheritance?
Replies: 74
Views: 10049

Re: How to invest $1.4 mil inheritance?

That is an aggressive approach. 80/20 allocation is aggressive. It's not how I would allocate money with little need to take risk. For me, a dollar-cost average approach into a 3-fund portfolio over 1-2 years at 60/40 would be my choice. I would use Tax-Exempt Intermediate for Bonds as well. I would...
by goodenyou
Sun Feb 16, 2014 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 11381

Re: taxes done and…why is my spouse working?

You can't have it all. If it is important to have a parent be available full-time to raise children, then one spouse has to choose. My wife can command a very good income ($100k+) as a highly specialized Nurse Practicioner with specialty certification. She went back to school in her late 30's with 3...
by goodenyou
Sun Feb 16, 2014 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Asset protection strategy
Replies: 50
Views: 5684

Re: Asset protection strategy

You can create a Family Limited Partnership with a LLC as a the General Partner. You can be the managing member of the LLC. I don't really know what that means, but I have had attorneys recommend it. It is a PIA for taxes, and if you use it any way that is construed as a "regular account" it will b...
by goodenyou
Sat Feb 15, 2014 10:01 pm
Forum: Investing - Help with Personal Investments
Topic: Asset protection strategy
Replies: 50
Views: 5684

Re: Asset protection strategy

You can create a Family Limited Partnership with a LLC as a the General Partner. You can be the managing member of the LLC. I don't really know what that means, but I have had attorneys recommend it. It is a PIA for taxes, and if you use it any way that is construed as a "regular account" it will be...
by goodenyou
Fri Feb 14, 2014 7:44 am
Forum: Investing - Help with Personal Investments
Topic: Asset protection strategy
Replies: 50
Views: 5684

Re: Asset protection strategy

Some use life insurance products. I don't nor do I advocate their use. My partners do.
by goodenyou
Thu Feb 13, 2014 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Re: Billing for annual physicals
Replies: 73
Views: 9517

Re: Billing for annual physicals

Physicians themselves cannot escape gaming of the system. My daughter went to the local ER for abdominal pain. I would have taken care of it but I had to go to work another hospital at the time. My wife ended up going with her on a light-workload weekday morning where a staff physician and a PA wer...
by goodenyou
Thu Feb 13, 2014 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: PIMCO Real Return or Vanguard Intermediate Term
Replies: 2
Views: 676

Re: PIMCO Real Return or Vanguard Intermediate Term

I had a very similar situation. I needed to fill the bond allocation in my tax privileged space, and my choices were limited in my 401(k). The only acceptable choice seemed to be PIMCO Total Return A (PTTAX), but the er was higher than I liked. I wanted 100% of my tax deferred space in bonds since t...
by goodenyou
Thu Feb 13, 2014 10:33 am
Forum: Personal Finance (Not Investing)
Topic: UPDATE- Paying back student loans- Am I being too aggressive???
Replies: 34
Views: 4488

Re: Paying back student loans- Am I being too aggressive???

Getting around to term life, been putting it off. Truthfully she'd be fine financially if I keeled off tomorrow, but I'll get around to it. I'd do this sooner rather than later, since it costs more the older/later you get qualified. My wife and I got $2.25 million ($1.5 million for me; $750k for he...
by goodenyou
Thu Feb 13, 2014 8:30 am
Forum: Personal Finance (Not Investing)
Topic: UPDATE- Paying back student loans- Am I being too aggressive???
Replies: 34
Views: 4488

Re: Paying back student loans- Am I being too aggressive???

You can't pay off the debt too aggressively. It is only too aggressive if it interferes with the ability to meet basic needs. Pay it off as fast as you can. Things can and will change, especially in medicine. Being debt free is exhilarating and liberating. I spent the first three years paying off al...
by goodenyou
Wed Feb 12, 2014 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Best process for mortgage payoff from Prime acct
Replies: 12
Views: 1284

Re: Best process for mortgage payoff from Prime acct

I would walk into the Citi one mile from my house with my Prime checkbook in hand. I did that at Bank of America 2 years ago with $150k and change cashier's check from Chase and the teller freaked out. I had to go through a PIA wire transfer. Took a lot longer than it need to after cancelling the c...
by goodenyou
Tue Feb 11, 2014 12:08 am
Forum: Investing - Help with Personal Investments
Topic: 42 years old, married, two boys - retirement and college?
Replies: 18
Views: 2331

Re: 42 years old, married, two boys - retirement and college

A 15 year old boy is worried about saving up $10 of his paper round money to buy a tire for his bicycle - 3 years later - sharks surround him and he ends up with $100k debt by the time he is 19!!!!!!!!!!!!!! Which he can never declare bankruptcy on - he is caught in the financial money making machi...