Anyone change their mind about FIRE?

[Raddoc123]

I am mid career half way to my “number” with no debt, payed off house, good financial shape, kids getting closer to college.  I always thought I’d...

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If I only get to keep 40 cents on the dollar, then I am going part time.  I welcome this because it is the push I need.

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Would love to know the status of non gov 457b at this place?

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jacoavlu wrote: G wrote: 4) Don’t sweat the bdRoth–if it makes you feel better, PoF did some math that showed it wasn’t that big of a deal.  Click to expand… That post showed that the initial ...

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My workplace 401k recently began annual fees of .15% of assets held.  This will end up costing me about 800 dollars at current levels.  About half of...

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Many wealthy people don’t own them according to one of those millionaire next door books.   Not only a terrible use of money but how about the waste...

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It’s ok The White Coat Investor wrote: Raddoc123 wrote: Infinity wrote: Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle.  Just like a slot mec...

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Infinity wrote: Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle.  Just like a slot mechine to me. Click to expand... Its a fun bet as lo...

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my current car is an 11 yr old 3 series bmw with about 110k miles that has had relatively few issues.  I bought this car before I was aware of sites...

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Internet has a short history.  It’s internet shiny ? Bitcoin as well as gold make no sense assuming all investors were rationale and boglehead like.  But...

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Dont_know_mind wrote: Raddoc123 wrote: wonka31 wrote: Raddoc123 wrote: Who said anything about investing?  It’s a wager.  It has huge upside gains for a relatively small bet. It’...

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wonka31 wrote: Raddoc123 wrote: Who said anything about investing?  It’s a wager.  It has huge upside gains for a relatively small bet. It’s certainly not going anywhere, been...

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Who said anything about investing?  It’s a wager.  It has huge upside gains for a relatively small bet. It’s certainly not going anywhere, been...

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Anyone buying?  It’s wildly speculative but it has lasted more than 10 yrs, there is more institutional money flowing in, gray scale bitcoin trust...

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FIREshrink wrote: Raddoc123 wrote: FIREshrink wrote: one of the reasons I don’t use my 457b is for tax diversification. If I’m in the 32% bracket now, and maybe retire in the 24% bracket, I’m giving up 8%. But I also already ...

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FIREshrink wrote: one of the reasons I don’t use my 457b is for tax diversification. If I’m in the 32% bracket now, and maybe retire in the 24% bracket, I’m giving up 8%. But I also already have a large pretax account (403b and 4...

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If you have to take a distribution for any reason before retirement, you can take a lump sum and set aside some of the money for taxes. In my opinion,...

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PatriCinq wrote: I’m just starting out – 4 years into practice.  I have not used 457b yet because I was working on school loans. Now that the loans are over, I’m really conflicted on thi...

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For 11k In reduced take home you can invest 19k.  If your system is large and nationally ranked, has good investments and distribution options, seems...

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Can you elaborate on se tax calculation on 10k?  Why x 92.35 and then 2.9 again? My w2> 132900 and my employee + employer contribution is about 36k. ...

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spiritrider wrote: A couple of additional points. As a self-employed individual your maximum employer contributions would be 20% of your self-employed earned income (business pr...

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Thanks, it’s an employer sponsored 401k that gets me to about 36k.  I would probably open a solo 401k through Fidelity.  My 1099 income is small but...

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I am a w2 employee and have max employee contributions + employer match of about 36k.  I also have some 1099 income and was wondering if there was a...

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MSooner wrote: Raddoc123 wrote: Vagabond MD wrote: Dusn wrote: I remember just a few years ago all my radiology friends could not find jobs and now there’s a shortage of radiologists? So weird...

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Vagabond MD wrote: Dusn wrote: I remember just a few years ago all my radiology friends could not find jobs and now there’s a shortage of radiologists? So weird. Click to expand… The radi...

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We have used chase for checking for years.  When this offer came around, we upgraded.  I parked about 120k in vanguard total market etf in the brokerage...

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I would add that a bad job in medicine can really skew your perspective.  In my specialty, many of the popular/desirable areas are infiltrated by corporate...

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It’s a nice part of a competitive metro area.  Although they have troubles recruiting, someone always comes along eventually.  We've had many docs...

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Other than switching jobs, how do those of you employed deal with constant downward pressure on work conditions?  I have experienced increasing unreasonable...

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I deleted my account because I couldn’t stand the constant calls, some of which were pressured.

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I’ve been using mostly muni intermed fund from vanguard but am now thinking of buying I bonds.

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I have never bought I bonds before but they seem more appealing now that the return is .5% above inflation.  I was thinking of buying 20k this year for...

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Is it possible to buy cheaper plans directly from the insurance company or a broker and avoid the healthcare.gov site? For a family of 5, once you go...

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Why not pick an allocation, rebalance yearly, invest regularly and forget about it otherwise?  This is a sure recipe for success and requires little...

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SValleyMD wrote: 1900/mo for healthy family of 6 on the “silver” type plan Ridiculous. Looking now to change Click to expand... That is ridiculous.  What were you thinking of changing to...

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I am looking at some independent contractor work and would need to buy my family’s health insurance.  I went to healthcare.gov and the policies ranged...

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Starting from 0 dollars, roughly 300k invested annually growing at 6%/yr would get you there.  Subtract your 401ks, Roth’s, 457b etc. to see how much...

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I’d check the financials of your institution and use it.  Failures and loss is real rare, never heard about an MD losing money.  You get to put in...

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High yield savings or money market.  Want it all to be there when you need it.

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Mid career diag.rad.  Like others have said, very tough to concentrate for 9-12 hrs straight with little downtime and constant interruptions. THousands...

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When you say assets, do you mean liquid or all including house and retirement?  Can they garnish wages?

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Is there a rule of thumb as to how much to get?  As networth and salary increases, I wonder if my 2 mil is enough?  Or is it like malpractice where...

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I don’t understand why many surveys indicate 50%+ of doctors are burned out or wouldn’t choose medicine and their specialty again.  But then you...

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Kamban wrote: Raddoc123 wrote: Parents can gift their children about 15k per person per year.  So parents can gift their kids 60k without any kind of paperwork ...

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q-school wrote: Raddoc123 wrote: What multiple of expenses do you save if you have a 20k/yr pension at 62, and 30-40k in ss income for couple at 67-70?  How about potenti...

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Parents can gift their children about 15k per person per year.  So parents can gift their kids 60k without any kind of paperwork per year.  Assuming...

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What multiple of expenses do you save if you have a 20k/yr pension at 62, and 30-40k in ss income for couple at 67-70?  How about potential inheritance...

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Vagabond MD wrote: According to the 2018 Medscape survey, 41% of docs have a net worth greater than $1M. That number seems more realistic and accurate. That said, teachers start earlier, h...

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MnSaver wrote: I would think the number is higher, but having grown up in a medical household it doesn’t surprise me. Two observations: “I can always make more” and “I deserve it b...

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The White Coat Investor wrote: Raddoc123 wrote: If this is your experience also, why do you think this is?  Click to expand… 1) Most can’t afford to. That eliminates probably 90%...

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I wonder whether the current generation of physicians will be more likely to retire early?  They are more likely to be employed, get burned out because...

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jz wrote: In year 2000 a radiology colleague, age 45, fully retired.  Parsimonious maximous. Click to expand... You know something is rare when you have to go back to 2000     ...

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Side Hustle Scrubs wrote: Leaving an autonomous job that garners respect while paying you one of the highest salaries in the country is easier said than done. One of my mentors always ...

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Given that odds are majority of us won’t be retiring early (even if we can), I wonder whether we should loosen the purse strings and enjoy life more,...

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I would think that for many it’s financial and for some it’s the fear of giving up medicine.  It’s hard to imagine life without medicine for me...

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There are multiple blogs about early retirement out there but I’ve never actually ran across a physician who took early retirement say before 55-60?...

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He’s a real good safe doc who many others consult.  I bet no one suspects he has issues.  That’s why I asked here to see if this is a result of...

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He is an employee in a competitive metro area.  He works in a hospital with a tough qa program and malignant culture.  He tells me this has been going...

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My colleague recently told me that he’s had problems with excessively thinking/ruminating about cases he’s read from days before and whether he made...

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You can also do much worse than these figures employed in a saturated metro. Aargh

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Numbers seem inflated for my neck of the woods.  Don’t see how these numbers say anything when you don’t account for location, employed versus non...

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I don’t see how this is of much help to someone who’s a 3 fund investor using vti, Vxus and bnd?

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Zaphod wrote: Raddoc123 wrote: jacoavlu wrote: I am an employee, and also an owner, of my own practice (with partners) Are you being treated different than other employees? Is your...

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jacoavlu wrote: I am an employee, and also an owner, of my own practice (with partners) Are you being treated different than other employees? Is your current schedule a change vs the pas...

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Are you an employee?  I don’t think it’s reasonable to make an employee work 2 weeks straight.

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To all the rads on here, I am wondering if any have had good experiences doing telerad and if so, with which company?  Most what I have heard is negative....

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Are there any laws regarding w2 salaried employees or MDs and how many days they can work consecutively without a day off?  When I do my call weekends,...

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I am about to write a check for my disability insurance premiums and some questions came up.  I have modified own occ. policies from standard and principal...

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Rogue Dad, M.D. wrote: Seems straightforward.  If you have the money to cashflow the expenses without impacting lifestyle aspects that are important, then keep it in the HSA and invest i...

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What I mean is that if I have a 1k medical expense, I can either withdraw 1k from HSA or leave HSA alone and spend 1k from monthly cash flow, which would...

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I don’t like speculative assets like crypto.  Value is in trying to find the next guy to buy from you.  Little utility and intrinsic value right now....

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So basically the decision is to spend 1k from from taxable and let the HSA grow or 1k from HSA and leave taxable alone.  The 1k in taxable has a tax...

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Curious if others in high brackets save receipts and use HSA as another retirement account or use it for expenses taking the tax break right away?  ...

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I have been using amex savings 1.55% taxable for years.  I recently transferred a 5 figure sum to vanguard with the purpose to invest in municipal money...

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I agree with jfox.  Use the account without question. Good investment options, distribution options, financial standing, and the best part is the tax...

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So then some risks such as liability and potential troubles with Corp. employer remain unanswered. Not sure there is any way around these. Not sure a...

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I had a discussion over the holidays with a physician I know who was thinking of starting a medical information blog as a hobby and income source.  ...

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Slav4ikMD wrote: StarTrekDoc wrote: IIRC, you have a sizable pension.  Take this in mind too.  I count our pension as the bond equivalent bucket to counter stocks balance for equities; with ...

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Munis advantage is dependent on the whims of future tax laws which if changed can make them crater. I also wonder what will happen to munis given the...

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  I have been maxing this out for the last several years but recently found out there will be major changes.  Should I continue contributing for 2018 (p...

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Anyone know what the max allowed salary for 401k match is for 2018?  Was 270k in 2017.   Anyone know if the republicans tax plan has increases for ...

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ReFinDoc wrote: http://www.mauldineconomics.com/frontlinethoughts/pension-storm-warning Click to expand... Good article stating what we already kind of know.  There will be a ...

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Are we going to have a generation of teachers, university professors and others in Illinois who will not be able to retire because  their benefit will...

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Did not know there was this "may be reduced" clause.  Thought the constitution protected benefits? But in any case, the final amount of my balance ...

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I am vested in an Illinois pension from training days.  Should be about 20k/yr for myself at 62  + cola + health insurance which is discounted + 100%...

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I think the value in these cryptocurrencies is a store of value outside the system which is controlled by governments that can tax you, confiscate your...

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Cryptocurrencies like bitcoin are internet gold. A way of storing value without 3rd party involvement or central control. Technology- blockchain behind...

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I've been a buy and hold 3 fund indexer for 10 years.  I became intrigued by cryptocurrencies recently after doing some research and made a small investment...

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My inlaws (early 70s) have about 1.3 mil in their portfolio which they have stated is our future inheritance since they have other income sources to fund...

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I have my own modified own occ policy (own occ but can't double dip another job and get insurance payout) and a group employer policy.  I would like...

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Once I hit 7 figures in assets and paid off house, my life and job happiness has shot up dramatically.  I know that I will be ok for the rest of my life,...

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Agree with much of what has been said.  I would add that you can estimate the probability of your hospital system going bankrupt by looking at bond ratings...

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I have an old 401(a) from residency that has an interest rate of 6.5%/yr and is invested by a state that has underfunded pension obligations.  I can...

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PhysicianOnFIRE wrote: smartmoneymd wrote: I’ve also seen one too many senior owners of medical practices who don’t necessarily fire their new associates, but just continue to make the workplace ...

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Many of us who visit forums like this one are good savers and investors and hope to achieve financial independence and retirement.  I often hear that...

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Keep your individual policy as has been advised.  Also, be aware that group policies often have limitations such as 2 yrs of coverage for mental/nervous...

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I believe the huge salary discrepancies in specialties depends on location and practice setting.  Those in congested metro markets where there are consolidating...

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PhysicianOnFIRE wrote: fatlittlepig wrote: PhysicianOnFIRE wrote: fatlittlepig wrote: In fact I know of none.  Click to expand… Well, now you know one.   Click to expand… Actually I’m not referring...

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I would stretch distributions out because the tax deferred growth is very valuable, while the risk of default of your hospital is tiny if it is not in...

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Another thing to keep in mind is that 18k of 457b investment costs me 11k in take home pay, then grows tax deferred which always beats a taxable account...