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  • #16
    I did EM with a 3 year residency and I currently make between 400-500K in an employed position with benefits.  Sometimes it just matters where you live. This year I'm picking up extra nights/weekends and am thinking I'll hit the 500 mark which is crazy to me, and thus my interest in finances and what to do with it all.

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    • #17
      My group decided not to sell out in spite of the massive interest from the national groups. I guess as a group we value autonomy and are very "principled" in terms of how we want to practice. The job is pretty good in every way currently - good money, fair lifestyle, and we govern our group internally as we see fit. From a financial standpoint I think selling for $1.2-1.5MM+ in a tax advantaged buyout would have made a lot of sense. I would have been willing to deal with being a cog in the machine (I frankly already feel that I am) and an employee of a large management company for the long term security that sale would have provided. I always had in mind that in a worst case scenario I could survive my five year obligation (I made it through residency after all) and then go wherever after.

      I'm still happy here. I still have a good job. I just wish my partners understood compound interest, long term capital gains vs. normal income tax/state income tax, etc in the same way I do. As my wife told me, some people are not financially motivated and don't make decisions in order to profit personally. Why those same people want to be business owners is beyond me.

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      • #18


         As my wife told me, some people are not financially motivated and don’t make decisions in order to profit personally. Why those same people want to be business owners is beyond me.
        Click to expand...


        Lol. True story.

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        • #19
          They probably do understand compound interest but just don't care as much in the twilight of their careers. Obviously this matters more to you at an early stage. Autonomy and practicing the way you want and principles are for idealists and those who are financially independent, not for those with debt who are also playing retitement catchup.

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          • #20
            lurch, is it really you?
            Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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            • #21
              I'd take the sure thing and sell out.  The salary difference is relatively minor at that tax bracket and you just don't know what can happen in the next 5 years.  You may end up not minding the new role and be $1M richer for it, otherwise you could just suck it up and move on after 5 years.  If you don't sell out, there's a variety of risks you may encounter, and if it were me, the risks aren't worth $1M and a change in autonomy that may or may not happen.

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