Search found 260 matches

by kmurp
Sun Jun 01, 2014 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Maximum retirement deferral for couple
Replies: 2
Views: 539

Maximum retirement deferral for couple

Couldn’t find this in a rather quick search so I thought I would ask: I contribute the maximum allowed by law annually to retirement through my job’s profit sharing plan. My wife is a nurse and participates in the hospitals defined contribution plan. I don’t think that she is maxing out though. I be...
by kmurp
Mon May 12, 2014 8:28 am
Forum: Personal Finance (Not Investing)
Topic: An easy way to save money: Avoid the $300,000 car.
Replies: 152
Views: 25444

Re: Cars and houses are not the same.

Don't buy too much house and don't buy too much car. Bogleheads: This quote is, of course, good advice. "Too much" of anything is bad. However, there is a fundamental difference between a house and a car: Houses appreciate and usually sell for a profit . Cars depreciate resulting in a loss. Big dif...
by kmurp
Sun May 11, 2014 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: CNBC - [Among millionaires, 4% are doctors]
Replies: 100
Views: 15700

Re: CNBC - [Among millionaires, 4% are doctors]

That's an awful story (above). In my practice, all physicians in their 50's or above have over 1 million in their retirement account. I don't know how much additional they have outside our retirement accounts, but it's significant. Our group has always put the maximum yearly amount in tax deferred a...
by kmurp
Tue Jan 21, 2014 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 926

Re: 529 Allocation Question

Hard to say. The great bond market crash has been predicted for 5 years now. I feel fine with Total Bond. I have been buying the last 5 years and will continue. The income stream has grown with new contributions and the increase in yield (the NAV declined but not by much, and I picked up shares wit...
by kmurp
Tue Jan 21, 2014 10:21 am
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 926

Re: 529 Allocation Question

Yes, I was kinda sad when I saw how much the market went up last year. I do know from personal experience that I would have been more sad had I lost 30% last year. I know someone who had that happen to them during the 2000 recession while their kids were in college. Not good.
by kmurp
Mon Jan 20, 2014 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: Too late for a 529?
Replies: 4
Views: 788

Re: Too late for a 529?

Florida so the lack of a state tax deduction with the contribution is wiped out. That said, any interest and capital gains are tax free so I would do it.
by kmurp
Mon Jan 20, 2014 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 926

Re: 529 Allocation Question

Thanks. In the NY529, the "income Portfolio" has 25% TIPS, so that's why I was wondering if just the "no yield" short term fund might be better. The kids are college age now so the age based option puts them in the "income" portfolio (25% TIPS, 25%, short term and 50% TBM fund ).
by kmurp
Sun Jan 19, 2014 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 926

529 Allocation Question

I have two daughters in college at this time and have five more student-years to fund. I am currently in the Ny529 plan invested in the age based option which, for my girls age is 25% money market, 25% TIPS and 50% Total bond market. I lost a bit of money last year on this allocation (3% or so). Wou...
by kmurp
Tue Apr 09, 2013 3:21 pm
Forum: Personal Consumer Issues
Topic: Should I buy a car or get my current one repaired?
Replies: 23
Views: 2201

Re: Should I buy a car or get my current one repaired?

Wow. $650 seems cheap for all that work!
by kmurp
Mon Mar 18, 2013 10:38 am
Forum: Investing - Theory, News & General
Topic: POLL: Withdrawal Rates For Real Retirees
Replies: 79
Views: 7292

Re: POLL: Withdrawal Rates For Real Retirees

I'm afraid I find these low withdrawal rates depressing. Living off of 20k per year would be VERY difficult for me. Propert taxes alone are like 14k for me and healthcare will likely be what; another 10k? Not sure what my Medicare costs will be.
by kmurp
Sun Mar 17, 2013 9:22 am
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 3756

Re: 401(k) - Employees who want a better plan need your advi

Our company uses active management because the fees (some of them) are refunded to the company to help defray the overhead of the plan. That is something that I don't think we can overcome.
by kmurp
Wed May 09, 2012 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Medical practice buy-in
Replies: 43
Views: 6893

Re: Medical practice buy-in

The practice has an accountant. If it's a C-Corp, the accountant has been calculating the value of the property, plant and equipment all along. This is the number to use for that portion of the cost. Secondly, how are accounts receivable ownership handled? Do you have full rights to them now as you ...
by kmurp
Thu Apr 05, 2012 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: physician side income
Replies: 83
Views: 8272

Re: physician side income

The post above is why I mentioned my partner who does rental property. You can't make that kind of money by working more hours (though this guy does that as well ). I think the OP was looking for ideas like that which are outside the field of medicine. I know nothing about franchising but perhaps th...
by kmurp
Wed Apr 04, 2012 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: physician side income
Replies: 83
Views: 8272

Re: physician side income

One of my partners does real estate. Has 100 units with other investors and runs the property management company that manages them.
by kmurp
Thu Mar 29, 2012 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 33
Views: 5830

Re: Disability Insurance

Your future employer may pay for an individual as well as a group policy. Ours does.
by kmurp
Thu Mar 29, 2012 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of retiring but. . .
Replies: 38
Views: 3941

Re: Thinking of retiring but. . .

dad2000 wrote:
momar wrote:I would wait to see what happens with the ACA.
I agree. Too much is unknown right now.
Would the ACA provide coverage for retired persons below the Medicare age? Are you referring to the insurance exchanges? I have no idea what they would charge vs a currently available plan.
by kmurp
Tue Mar 27, 2012 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: New Jersey Real Estate (Property) Taxes
Replies: 7
Views: 962

Re: New Jersey Real Estate (Property) Taxes

We are not in NJ, but just had a 30% reduction in our assessment after an appeal. It cost us 2000 for a qualified appraisal and the lawyer gets 1/3 of the first year tax savings (or was it 20%). In any case, it was worth it.
by kmurp
Tue Mar 27, 2012 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else experience a gigantic loss in real estate?
Replies: 66
Views: 8270

Re: Anyone else experience a gigantic loss in real estate?

We (our medical group) bought a condo for our office in a new building next to the hospital in, I think 1991. We paid around 550k. It's currently on the market for 350K with no interest. We DId just get the tax assessment lowered. I didn't read the whole thread but I wonder how many people have a 3...
by kmurp
Tue Mar 27, 2012 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else experience a gigantic loss in real estate?
Replies: 66
Views: 8270

Re: Anyone else experience a gigantic loss in real estate?

We (our medical group) bought a condo for our office in a new building next to the hospital in, I think 1991. We paid around 550k. It's currently on the market for 350K with no interest. We DId just get the tax assessment lowered. I didn't read the whole thread but I wonder how many people have a 30...
by kmurp
Tue Mar 27, 2012 11:20 am
Forum: Personal Finance (Not Investing)
Topic: What is your 529 plan Asset Allocation?
Replies: 49
Views: 13928

Re: What is your 529 plan Asset Allocation?

Age Based option has allowed me to sleep well. I haven't had to "violate" the principle yet. That said, my age based option (which is pretty much out of the stock market now, has returned what the stock index fund did in the NY 529 program... no difference. Like I said though, I slept better. I know...
by kmurp
Thu Sep 29, 2011 4:12 pm
Forum: Investing - Theory, News & General
Topic: Ameriprise employees sue firm for lousy 401k choices
Replies: 74
Views: 10564

This is a bit worrisome

I'm trustee of a small company plan and we have mostly active management funds. The reason is that the funds rebate part of their fees to the company to offset (partially) the cost of running the plan. I did insist that we have a few Vanguard funds : Total stock, total bond and TIPS, so if someone w...
by kmurp
Wed Sep 07, 2011 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Hospital wont negotiate
Replies: 43
Views: 3830

Re: It was only a 25 minute hernia operation

This is how devalued medicine has become. It was only 25 miniutes because of technological advances, such as laporascopy. I suspect the poster wouldn't hesitate to spend $3,000 on a Caribbean vacation, cruise, or bedroom furniture set. Without knowing additional details, I can say that certain type...
by kmurp
Wed Jul 06, 2011 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Update on “best retirement state” : Georgia info
Replies: 17
Views: 1993

Unlimited income

Did I read this right? No income taxes at all up to unlimited income etc? I see the appeal to retirees but fail to see the fairness.
by kmurp
Sun Apr 17, 2011 7:34 pm
Forum: Personal Consumer Issues
Topic: TV in an unheated Vacation Home
Replies: 3
Views: 729

Thanks!

Sounds like it will be OK and the particular technology I choose is independent of this concern.
by kmurp
Sun Apr 17, 2011 7:08 pm
Forum: Personal Consumer Issues
Topic: TV in an unheated Vacation Home
Replies: 3
Views: 729

TV in an unheated Vacation Home

A question for the engineers (or anyone): I am going to purchase a flat screen for our home on a lake. This TV will likely be large and I don't want to move it back home each fall and the reverse in the spring. It will, therefore, be sitting in an unheated home in upstate NY all winter. Will this br...
by kmurp
Fri Apr 08, 2011 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Career Change - RN-NP vs. PA
Replies: 26
Views: 5323

"having been a C.R.N.A. for 30 years I have to agree with the other posts. Its a great career. However if you think you have a " backup" when things get "panicky". you are mistaken. Many rural hospitals have no anesthesiologist. Only C.R.N.A.s. We have a staff of 10 ,a mixed group-Docs and C.R.N.A.s...
by kmurp
Fri Mar 25, 2011 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Tail Insurance
Replies: 8
Views: 1673

Who should pay

I just left a private practice after 4 years there and joined a multi specialty group. The PP paid my tail and the new group will pay my tail whether I leave on my own or get canned. I think one should have the practices cover the tail...they'll be collecting money you brought in for a couple month...
by kmurp
Thu Mar 24, 2011 8:21 am
Forum: Personal Consumer Issues
Topic: Tankless Water Heaters/Their Economy
Replies: 21
Views: 3694

Hard Water

We were told by a supplier that they need soft water or they will be damaged. Lacking a water softener, we passed.
by kmurp
Sat Mar 12, 2011 4:58 pm
Forum: Investing - Theory, News & General
Topic: Blog Post on Physician Investing
Replies: 9
Views: 1947

WELL: I'M 53

I don't think I have enough to retire. Perhaps I'm overestimating my needs but more importantly I probably haven't saved enough. I've always done the max in tax deferred but failed to save enough in taxable accounts. In addition, I have a decidedly negative real return the last ten years. I estimate...
by kmurp
Mon Mar 07, 2011 4:24 pm
Forum: Investing - Theory, News & General
Topic: VTSAX
Replies: 2
Views: 799

VTSAX

As trustee of our small company retirement plan, I recently inquired about adding Vanguard Total Stock Market index fund Admiral shares to our fund menu. It would replace the investor shares that we currently have and would, I believe, work well for the participants due to the newer reduced investme...
by kmurp
Tue Jan 18, 2011 2:16 pm
Forum: Personal Consumer Issues
Topic: How long do you keep a car *Really*?
Replies: 148
Views: 23360

Cars

I am 53. I have owned 5 new cars in my life and one was only for a year (wreck). Gave my last new car (civic) to daughter and driving wifes' hand me down minivan.
by kmurp
Thu Jul 22, 2010 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: High-deductible health insurance better than paying cash
Replies: 28
Views: 4497

"Usual and Customary"

The usual and customary fee is the amount charged to anyone that is either uninsured or has insurance with a plan that does not have a contractual agreement with the physician that takes care of you. For my group, this number is higher than most if not all of the contracts that we have in place with...
by kmurp
Thu Jul 22, 2010 5:38 pm
Forum: Investing - Theory, News & General
Topic: Limits on 12b-1 fees coming?
Replies: 5
Views: 920

Re: Profit sharing

DDB wrote:Does your company offer a match on the 401k?
Our company has a Qualified profit sharing plan, not a 401k. Everyone gets 15% of their salary put into the plan, fully vested from day one.
by kmurp
Wed Jul 21, 2010 1:42 pm
Forum: Investing - Theory, News & General
Topic: Limits on 12b-1 fees coming?
Replies: 5
Views: 920

Profit sharing

Our small company uses the 12-b1 fees and subTA ( I think that's what they are called) to offset the cost of maintaining the qualified plan. It is my understanding that were we to be offering only Vanguard Index funds, the corporation would assume all of the cost of the plan. The way we have it set ...
by kmurp
Tue Oct 06, 2009 2:11 pm
Forum: Investing - Theory, News & General
Topic: Defined Benefit Plans for Physicians
Replies: 34
Views: 4195

defined benefit

Google 'cash balance plan" and physician. Yes this IS becoming more popular. It is especially popular with groups that have a small number of high earner physicians. I think that there are some downsides as well; in order to avoid underfunding, you may wish to have the $ in a "safe" investment; said...
by kmurp
Tue Aug 18, 2009 10:37 pm
Forum: Personal Consumer Issues
Topic: gas fireplace inserts
Replies: 18
Views: 5410

Gas Fireplace.

These are great. Use a reputable local dealer to purchase and install. Sealed units are safe and very effective. Direct vent models...not so sure how safe these are. Someone I know had a carbon monoxide problem while using one during a power outage.
by kmurp
Tue Aug 18, 2009 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Do you consider yourself "High Net Worth?"
Replies: 56
Views: 8662

TRC wrote:Yes, at 31 my wife and I are close to 700K. I feel very fortunate - right time, right place, hard work, diligant investing, diligant debt elimination, and a little bit of luck.
Good work. At that age I was just getting out of my residency and starting practice.
by kmurp
Tue Aug 18, 2009 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Do you consider yourself "High Net Worth?"
Replies: 56
Views: 8662

TRC wrote:Yes, at 31 my wife and I are close to 700K. I feel very fortunate - right time, right place, hard work, diligant investing, diligant debt elimination, and a little bit of luck.
Good work. At that age I was just getting out of my residency and starting practice.
by kmurp
Tue Jun 02, 2009 9:29 pm
Forum: Investing - Theory, News & General
Topic: News on 12B-1 Fees
Replies: 19
Views: 2667

12b-1

In our company plan, the 12b-1 fees are used to pay an advisor. This man helps employees who choose to do use him, to set up a financial plan which includes an estimate of the risk that they need to take in the market and asset allocation. He chooses the funds available (open architecture) and advis...
by kmurp
Wed Apr 08, 2009 4:24 pm
Forum: Investing - Theory, News & General
Topic: AGs scrutinize OppenheimerFunds' bond fund
Replies: 15
Views: 2388

Quarterly Comment

The quarterly commentary for the Champion Fund is an absolute scandal. There is not even a hint of remorse or acceptance of responsibility for the serious breach of conduct that they engaged in. The last sentence ( as I recall-I read this over a month ago) is an "oh by the way" statement of the fund...
by kmurp
Wed Feb 25, 2009 12:25 pm
Forum: Investing - Theory, News & General
Topic: US "Lost Decade" talk is overblown
Replies: 23
Views: 2626

Lost Decade

Well, I had a rather large amount of money in 200 invest in stocks and bonds. Sadly, my stock side was un-diversified. I Became diversified in 2002. Contributing the maximum to retirement allowed by law in every year of my 19 year employment and never more than 80% equity (most often at 50-70%), my ...
by kmurp
Mon Dec 15, 2008 12:59 pm
Forum: Investing - Theory, News & General
Topic: Prospectus for Madoff investments
Replies: 42
Views: 10973

Lost Savings

Someone that i work with lost all of his life savings due to this guy. He was told, apparantly, that the bulk of the assets were in treasuries. So sad.....
by kmurp
Tue Oct 14, 2008 8:29 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Funds choices/ inflation
Replies: 4
Views: 1213

Real Asset Funds

Thank you for your extensive reply. We employ an investment advisor acting in a fiduciary capacity for our plan. His opinion on real asset funds was exactly the same as yours 6 months ago when I asked him. He felt they were way too volatile and could be dangerous in a plan that allows participants t...
by kmurp
Tue Oct 14, 2008 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Funds choices/ inflation
Replies: 4
Views: 1213

401k Funds choices/ inflation

I am one of the trustees of our small company retirement plan, and therefore, I have a say as to what asset classes we offer for our employees. As a possible scenario to the current mess is that world governments will substitute inflation for deflation, I am wondering if our plan is well prepared. M...
by kmurp
Thu Oct 02, 2008 10:24 pm
Forum: Investing - Theory, News & General
Topic: Warren Buffet Interview with Charlie Rose Yesterday
Replies: 41
Views: 7593

Buffet Buying Bonds

His argument on this is that the amount of bond purchases that are necessary can only (in this environment) be done by the US Govt. No one else has the cash in these amounts nor can anyone else borrow at the low rates that the Govt. can to purchase these securities. 1-2 years ago, borrowing to purch...
by kmurp
Thu Oct 02, 2008 1:13 pm
Forum: Investing - Theory, News & General
Topic: BAILOUT? ... There is no crisis.
Replies: 90
Views: 21631

Lehman

Wamu just got cleanly recapitalized without any loss to the taxpayer, as did Leyman. The taxpayer is involved in the recapitalization of Fanny and Freddie, and Bear Sterns and AIG, but this seems more targeted risk of public funds than a shotgun "throw money at it" cure. -- James[/quote] According t...
by kmurp
Thu Oct 02, 2008 12:34 pm
Forum: Investing - Theory, News & General
Topic: Warren Buffet Interview with Charlie Rose Yesterday
Replies: 41
Views: 7593

Buffett

His explanation of what we need to do with the credit mess is as clear as his shareholder letters. I also happen to believe in his honesty and integrity. I therefore also tend to believe his opinion on the tax matter (which is just a sideshow currently compared with our other problems). That said, h...
by kmurp
Fri Sep 26, 2008 12:17 am
Forum: Investing - Theory, News & General
Topic: what is Paulson trying to fix?
Replies: 43
Views: 8246

Re: Buffet Convined Me

This morning I heard Buffet on CNBC and his voice wavered when he discussed last Thursday. This problem is real. The markets are stuck and anything that goes to help them clear I am for I heard the interview as well. I also felt that his voice got unsteady when he described last week's events. Why ...
by kmurp
Fri Sep 26, 2008 12:00 am
Forum: Investing - Theory, News & General
Topic: BAILOUT? ... There is no crisis.
Replies: 90
Views: 21631

De-leveraging

I was using Warren Buffets' term for what is going on. I do not get any shadenfreude from a generation of spenders getting their supposed comeuppance. I think that it is sad. I hope that it isn't crippling to many of us.
by kmurp
Thu Sep 25, 2008 11:56 pm
Forum: Investing - Theory, News & General
Topic: "wiped-out retirement savings"? Is this in refere
Replies: 24
Views: 6817

wipe out

Perhaps they are referring to the possibility of an even more severe credit contraction with large layoffs, stock PE contractions and dividend cuts. If you are of a certain age, you may never recover.