Telemedicine and state taxes

[FreshPaint]

banana stand

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Yes 403b comes out of the paycheck. Once I started moonlighting to cover my living expenses I had 100% of my paycheck deferred so that the 403b was maxed...

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I agree that training should be rigorous and difficult to separate board certified physicians from the pretenders. I don't see why there needs to be...

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I don't understand how physicians can be so anti physician. Nurses advocate for their own which is how NPs have improved their pay and lifestyle. You...

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Wasn't there some study that showed that the best portfolio performances were from dead people or people who forgot about the accounts? I think that's...

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Investment Calculator

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I think the salient number here is 3k per month spending, after rent, for 2 people and a baby. IMO that is depriving yourself when you make 500k. I spend...

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So you saved 200k in a year while enjoying life in coastal california, one of the most desirable places to live on earth?

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I do miss the trips to the local Blockbuster to take 30 minutes to pick out a bad movie. Endlessly browsing Netflix just isn't the same....

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You're spending $72,000 per year, on a resident salary of like $60k before taxes?...

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I honestly think Walmart, Costco, Target, and Best Buy are better than Amazon. At least with the former, I know the price is reasonably competitive and...

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How much were you thinking of borrowing each year? And what's the typical rent for a decent 1 bedroom apartment in that city (not luxury apartment),...

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Would be interested to know who else here has lived in California and the midwest or other lower COL area to make comparisons.

At first I...

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I think you can afford it but I can't get over spending 80k on a GMC/Chevy/Ford. At that point why not buy a Tesla Model X? Or get a used Toyota/Honda...

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I hate minivans too, so ugly. I'm surprised that those SUVs are 80k. Are you considering only American cars? I just looked up the Toyota 4 Runner which...

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Yea I feel the same way as you. Maybe I'm a boring person, but I'd much rather have a luxury car, nice clothes, and the newest iphone, rather than blowing...

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Pacific Northwest IMO. Summer is awesome - not too hot, no humidity, very long days.

...

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Is there a reason you can't just roll over the traditional IRA into your employer's 401k or 403b plan.

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I keep telling myself to just hold index funds yet I hold 25% in bitcoin. It's hard not to speculate a little when you see people around you getting rich....

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Can you rent something with enough space for your family?

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Sure. I’m going to skip the residency switching bit to preserve some anonymity.

The first gig I did was hourly with travel/hotel/rental...

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I don't know your values but I feel like living on 60k with a family of four would be really tight, and would your kids resent you in high school when...

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I wasn't aware of the Ankers, I guess that makes me an Apple sheep?

Question is, do you think the Ankers are a superior product to airpo...

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Nope. But my residency didactics and mentorship are minimal to nil. Most attendings at my program are lazy and hide behind residents to avoid work, and...

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You should try them out. Get them from Best Buy and you can return them if you don't like them. For me they're a big quality of life upgrade, especially...

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Psych residency at least where I'm at is very chill. Without moonlighting, I work about 25-30 hours a week, with hardly any stress. I went home today...

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Quick newbie question for those doing telemedicine,

How do state taxes work for those living in one state and doing telemedicine in another...

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Physician on fire?

groggy LA sex...

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Agree with the folks above.

In short, if you know you're never gonna try to get better, do it as cheap as possible.

However,...

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Definitely don't buy new.

I'm a big fan of buying used golf clubs that you find aesthetically pleasing. Check out the classified section...

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I'm a fan of the minimalist capsule wardrobe. Fewer decisions in the morning, less spending, and look at least decent. I've upgraded to designer jeans...

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I don't think it's expensive to eat healthy at all, it's simply a matter of priorities. If you've ever tried meal prepping for bodybuilding, those guys...

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Same reasons as everyone else, and I still believe in bitcoin but I allocated too much of my portfolio. What makes sense for a robot doesn't work for...

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Posting this cause I think it might be instructive for others.

I made about 40k w/ bitcoin by buying at 2-3k per coin several years ago....

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As a psych resident this type of political involvement from some psychiatrists makes me cringe.

It reminds me of Bandy Lee, the psychiatrist...

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Democracy as the founding fathers intended...

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The Brooks are one of those shoes that I can just tell are super comfy based on how many people I see wearing them despite being ugly....

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Sounds like a fellow psych resident who just signed for ~300k and is already planning on buying a 60k+ BMW M3 and a house. She has significant student...

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Spending time on this forum has helped me clarify my financial goals as I'm finishing up residency.

I'm naturally a grinder and saver, so...

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This forum is the financial equivalent of the prepper community.

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No different than if the government created their own controlled version of the internet....

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It wouldn't be a bad idea but they can't do it because of the optics of buying another company's stock instead of buying back shares of Tesla. Buying...

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To increase their purchasing power?

USD is inflationary with low volatility, Bitcoin is deflationary with high volatility.

...

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I think the lowering of interest rates has something to do with BlockFi's exposure to GBTC and the collapsing premium. It's fairly annoying to me as...

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Dave, I have $25k in credit card debit. I make $30k per year. I want to buy a used BMW for only $25k. Can I afford it? Also, I have a wedding and...

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Animal Spirits

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Elon's job is to be cheerleader in chief to raise the stock price, so that they can hire more engineers who actually do the work

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Do you think the USD is going to have much value in 500 years...

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IMO if you're sitting out then you're investing in the US dollar. Which I don't see how that could be correct.

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I'm still in bitcoin for far more than I should be...

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I've heard it said that the stock market is astrology for men....

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There has been chatter on twitter about BlockFi having liquidity issues during the recent tech sell off and subsequent GBTC negative premium. Apparently...

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Yeah this is aging really poorly for him so far....

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Well I'm definitely still holding b/c I'm bullish on bitcoin. I just wish I had allocated more to actual bitcoins rather than GBTC. I'll be ok if bitcoin...

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GBTC

My average purchase price on bitcoin via GBTC is lower than what bitcoin is trading at right now but somehow GBTC is dumping below the...

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Well, a day like today certainly strengthens your argument. I didn't spend 5 seconds worrying about the stock market crash last March b/c I was totally...

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sigh... mania is just SO much more fun. It's a blast following wall street bets, bitcoin, and tesla. I'm watching this Charlie Munger meeting thinking...

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Here’s an example of an all in Tesla guy. 12m at age 39, but that was a couple months ago so maybe 10m now?

https://twitter.com/jasonde...

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He’s investing conservatively now. No need to take risk anymore.

The powerball comparisons don’t make sense to me. Maybe it might be...

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https://www.efinancialcareers.com/ne...ey-on-gamestop

It’s probably a major sign of a bubble that we’ve got stories like this. But I’m...

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Some will get out in time and be massively ahead, other will lose a little and learn to index, and a few will get wrecked and also learn to index. Not...

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Agree w/ you here.

All I'm trying to say is that if your goal in life is to live luxuriously, it will involve education and really hard work,...

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MLM makes a minority fabulously rich at the expense of those on the bottom. So yes, that is a low % way to get rich. Just like moonshot bets on sto...

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Yes. That is my point. Like I said, people are playing different games. If your goal is to be rich, index investing won't do it unless you have high...

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I think you're missing my point. You described a life of working your whole life with 34k spending budget. There's enough people out there that are...

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I think we're in agreement. I wouldn't ever advise someone making 50k to take concentrated risks, especially if they have family depending on them....

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Individual stocks don't carry a 99.999% chance of total loss of principal like lottery tickets.

Just in the past 10 years, you've got Tesla,...

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I think I'm being misunderstood a little bit. I do index investing for the large majority of my portfolio. It's definitely the best risk adjusted strategy....

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Well I just used a retirement calculator and put in 12 years, 6% return, 10k invested a month, and didn’t get anywhere close to 5m. And that’s ignoring...

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Obviously he's rich. He made a lot of sacrifices to get there - live like a resident past residency, drive 5k cars, live in a lower COL area, and all...

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Cord, I don't know cause I haven't been there. I guess I would say early financial independence with well above average lifestyle. Something like 5m...

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I think the YOLO crowd and WCI/boglehead crowd are playing different games. If you want a shot at becoming wealthy while relatively young, index investing...

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The most convincing arguments I see are based on market cap compared to gold. Gold is 10 trillion, bitcoin recently hit 1 trillion and right now is a...

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A smart phone to me is like a mattress or dress shoes. If you spend a lot of time on it I think it's worth spending decent money on.

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Do you realistically think bitcoin would go down to $10? The trajectory of bitcoin and the cryptocurrency space has been upwards for 10 years, obviously...

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Those comparisons aren’t accurate because Bitcoin was publicly traded since day 1. Better to compare Facebook and google to Coinbase IPO.

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I welcome the more experienced forum members to critique my thinking here.

Is there another investment besides bitcoin with as much reward...

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Agree with you. The upside of a quick strike 50k gain is so tempting and feels like it outweighs the risk. It's interesting how emotionally compelling...

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This is insightful. My brothers mentality is suited to trading for several reasons.

1. He’s not status oriented in terms of material goods....

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I'd go with a reasonably recent model that she feels comfortable driving.

I had a med school classmate whose father bought her a tank of...

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I’m also at 25%, maybe closer to 30 now. I bought back in last month at 20% of net worth but it rose so fast.

I’m bitter at having sold...

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I don’t think the stock market will crash. Just wondering if there will be more sellers than buyers of index funds and many of the stocks within t...

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Also at 25% after this run up. I only own bitcoin at the moment.

As a millennial, I've been wondering what happens if there's a lot of retired...

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Update today. He has quit while ahead. Paid off 700k mortgage and has 2.1m indexed now after taxes....

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This is only a financial mistake if you don't repaint the car.

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Buy the car if you want a nice car. You don't need to justify it to yourself or anybody else. It's not a move that maximizes net worth, but you know...

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The risk/reward ratio here is heavily skewed towards living in a nice apartment in a good location. 2-3k is not gonna matter at all in your career as...

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Well, my brother had 300k in an IRA last summer which he turned into 2.5m as of about a week ago. He's an attending in his mid 30s. He indexed about 1m...

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I don't think you could compare investing in bitcoin vs. "no investments". I would say you're comparing investing in bitcoin vs. USD. One is...

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I got back in yesterday via Grayscale bitcoin ETF. ~10% of net worth. Looking to add real bitcoins again as well via Gemini.

I've been seeing...

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Sometimes money seems so paradoxical.

If you're the kind of person where 5m is not enough to retire, than you might not get to 10m even earning...

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I sold 5 bitcoins in July and I feel like screaming right now

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I say go for it if the larger physical size isn't too bothersome. I upgraded from the original iphone SE to the iphone 11 last year and it always puts...

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For new attendings out of residency, do most employers allow immediate 401k contributions (and match) such that the 19.5k limit can be hit within 6 months?...

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I listened to the posters on this forum and sold my bitcoins a few months ago at 9.5k a coin. Bought in at 1-2.5k a coin.

Made 40k profit...

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Good article.

I buy starbucks every single day. That's $100 a month to have a big smile on my face every morning.

I think some...

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Take a screenshot and post your options?

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Got an email from a recruiter about this job which says 500-750k which sounds hard to believe. Thought I'd see what the WCI community thinks:
...

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I think Billy was saying that you can have both the solo 401k and the 403b open and get the best of both worlds. Put the employee 19.5k into the 403b...