The reasons for an emergency fund

[NumberWhizMD]

Bored in the sense that I don’t have enough mentally challenging things to keep me occupied! Life currently involves feeding, changing, napping, and...

[NumberWhizMD]

I think it was the combination of events that led to the “emergency” part. You are correct, the child was planned. It was the additional unexpected...

[NumberWhizMD]

Just wanted to share my recent experience, and why I'm so thankful for an emergency fund.

A little over 2 weeks ago, we welcomed our 3rd...

[NumberWhizMD]

PCP here as well. My clinic is similar to Lordosis . I will say many of my patients have also transferred here, as they could never see their PCP. Although...

[NumberWhizMD]

Not all people with kids or significant others have BS reasons to leave shifts. Maybe I take a little offense, as this wasn't the case for me or any of...

[NumberWhizMD]

Communication is probably the key. What is frustrating is when patients come to me on direction of the specialist to get more testing, but the patient...

[NumberWhizMD]

I think some of this depends on the spending habits of the person and the amount of debt forgiven. The amount I was given as a gift was about 10% of my...

[NumberWhizMD]

We are planning to underfund our kids' 529s with a goal of $150k per child. We also started having the conversation while they're young about expectations....

[NumberWhizMD]

I'm having my 3rd any day now. We are on a high-deductible plan, so I'm anticipating the worst. Luckily, we knew that coming in when we chose the high...

[NumberWhizMD]

Typically not the groups I refer to. Coming more from patients who don't need a referral and come to me after the findings with the reason "my doctor...

[NumberWhizMD]

As a PCP, this is NOT something I usually encounter, and I would probably refer back to the ophthalmology. This is not typical and something that drives...

[NumberWhizMD]

When I'm not pregnant, I drink a ton. When I'm pregnant (currently ready to pop), I can't drink enough on top of my usual.

I tend to be pretty...

[NumberWhizMD]

We've done Secrets and Excellence resorts in Cancun and liked both. Both are adults-only, which is also nice (particularly as we are getting away from...

[NumberWhizMD]

I think the value depends on the age. There is definitely plenty of counseling I do based on age (probably most counseling in my adolescent age-group)....

[NumberWhizMD]

I bill for physicals and office visits and don't get any pushback. Nor any issues with the AWV + office visit code. I had more issues with the old documentation...

[NumberWhizMD]

PCP here. I tend to be in the "less is more" camp and follow USPSTF guidelines. I try to encourage my young, healthy patients that they don't...

[NumberWhizMD]

At my most recent job, I was able to negotiate and move my "moving allowance" into my sign-on bonus, as my husband's job had better moving benefits....

[NumberWhizMD]

Done and already received our refund! Just in time for the huge upcoming hospital bill as we await the arrival of our third child!

Luckily,...

[NumberWhizMD]

I do think that comparing rates of the loans would be helpful. However, the other thing to consider is that you can sell your house, but you can't sell...

[NumberWhizMD]

I think it totally depends on your child. What one child will appreciate, another won't.

I can say that the nice watches or other material...

[NumberWhizMD]

Wish my wedding had had similar types of gifts!

[NumberWhizMD]

Agree with what others have said.

Talk to your wife frequently about what she needs. I am very lucky to have a full-time working husband...

[NumberWhizMD]

This is the only reason I can think of to even consider this idea. Granted, I have 2 daughters, so I feel a need to help protect them from the crazy world...

[NumberWhizMD]

Agree with most of what's been said.

Most important is that you have a passion for it. It is grueling training, and you don't want to take...

[NumberWhizMD]

Just wondering why your taxes and mortgage are so high? Seems much higher than I would have anticipated, even given your income level. We live in a high-property...

[NumberWhizMD]

I don't have net worth goals, but more other financial milestones.

Cut back to 0.9FTE once student loans paid off.
Thinking about 0.8FTE...

[NumberWhizMD]

Outpatient family medicine. No. And I don't see that changing at all, which does suck for those of us in specialties where there would be some benefi...

[NumberWhizMD]

We decided on public school, but also live in an area (and chose a house) based on this. I myself went to private school, and my husband is from another...

[NumberWhizMD]

THIS! I went in with every intention to be a surgeon. One day in the OR was enough to turn me off of it long-term.

There are so many more...

[NumberWhizMD]

You are in a great position, even if slightly delayed!

Agree with others. Prioritize tax-deferred accounts and Roth IRA first. Your student...

[NumberWhizMD]

If you're already talking about buying a house and paying student loans, you are potentially setting yourself up to be having more cashflow issues. I...

[NumberWhizMD]

I think it really depends on what you are going to do with the extra money and what your cashflow looks like. I was on the "pay off student loans...

[NumberWhizMD]

I think prioritizing tax-advantaged accounts is important. However, it would be nicer to see a broader budget for you to get a better idea for any areas...

[NumberWhizMD]

Household income will likely be about the same moving forward. I would need to look more at the distrubution and investment options (haven't yet, as I...

[NumberWhizMD]

This might be a silly question, but something that I just thought of that might be more beneficial. Wanted to get some input to see if this makes any...

[NumberWhizMD]

You can have multiple DEA numbers if you have licenses in multiple states. However, you will pay for each DEA (can't use the same number in different...

[NumberWhizMD]

My 7YO is definitely the one who struggles. Although she has gotten to the point where she now asks to read on her own at nighttime, which is a HUGE improvement....

[NumberWhizMD]

This! I read one book last year (goal was 1/month, but only ever finished the one). Just finished another book that I had started towards the end of last...

[NumberWhizMD]

I know someone asked this, but I think the 5-year minimum that you are looking at would be helpful to know the circumstances. In addition to this "great...

[NumberWhizMD]

I do physical exams with the wellness visit as well. Mostly as I think patients then feel like they "got" something out of the wellness visit,...

[NumberWhizMD]

My guess would be not many, based on my experience with other colleagues.

That being said, I'm the physician (female) and my husband is non-medical,...

[NumberWhizMD]

I'll echo what everyone else above has said.

Can you do it, yes? However, this makes a lot of assumptions that you can't guarantee. I did...

[NumberWhizMD]

You are one of the lucky ones who found a GREAT job out of residency. Yes, it's easy to be tempted by more money. The second job sounds like a recipe...

[NumberWhizMD]

We are not planning on telling our children they have a 529. If they don't know what they have, they don't know. We plan on discussing state school tuition...

[NumberWhizMD]

This! If you really think your kids may end up with scholarships, you get that money back, penalty-free.

We have 529s for our kids and will...

[NumberWhizMD]

Congratulations! I feel like that was our hardest to hit. Now it seems like smooth sailing (assuming you don't go crazy and start spending more than you're...

[NumberWhizMD]

We are on the same path. Goal is to have our house paid off in 9.5 years when our oldest goes to college. Doesn't involve a lot extra each month, and...

[NumberWhizMD]

Taxes aren't always higher. As a two-income high-earner family, we make enough to be comfortable, but also enough to keep us in a lower tax bracket. The...

[NumberWhizMD]

I would have to agree with this. I feel like many of the opinions on this thread are overly pessimistic. I have not been married as long, but I see my...

[NumberWhizMD]

Ours has M*Modal too that I can do through my phone or my computer....

[NumberWhizMD]

I use smarttexts for my most consistent chief complaints/chronic medical problems. I am a fast typer, although will occasionally dictate for a complex...

[NumberWhizMD]

Refinancing is a no-brainer if you aren't going for PSLF. Hard to make more recommendations on term without more details (overall budget and expenses)....

[NumberWhizMD]

The pool was on next year's agenda. With a newborn on the way, we've decided to delay it for now. Mostly because of the safety concerns with a newborn...

[NumberWhizMD]

2021: Paid off the last of my originally 400k+ student loans (by far, the best thing to happen this year)
Refinanced from 30-year 4.75% mortgage...

[NumberWhizMD]

Kids: about $150 each. Try to limit it for them, as the grandparents go overboard. They are the only grandchildren on my side, and 2 of 4 on my husband's...

[NumberWhizMD]

Our kids will have opportunities in college. Having been encouraged to pursue my own path, I want to encourage my children to do the same. I was a sociology...

[NumberWhizMD]

Agree with the adjustable weights, as these make a big difference at home and offer a lot of options. We have added to our gym over time. Will eventually...

[NumberWhizMD]

Yes. My green-card foreigner husband has been able to contribute to this. Not sure if there is any limitation to where he earned his income, as my husband...

[NumberWhizMD]

This!

Our plan gives us $1500/year towards our HSA, which is money in our pocket. We add to the max allotted each year, but that money we...

[NumberWhizMD]

It depends on a lot.

1) What's the difference in premiums between the plans?
2) You mentioned you are just going in for well visits...

[NumberWhizMD]

If your parents decided to NOT live with you, what would they do with the cash? It sounds like they want to move, and so that cash will likely be needed...

[NumberWhizMD]

Can you give more information? What are houses in the neighborhood priced at? You don't want to be the most expensive home on the block if you ever need...

[NumberWhizMD]

With my first job I was a Spanish-speaker (took a proficiency test to prove this). Unfortunately, there was no extra pay, no extra time with these patients....

[NumberWhizMD]

Only follow-up I have on this is to check on your investment options with the program. My program had horrible options with high fees, and I wish I would've...

[NumberWhizMD]

This only works based on income. There was never a point with my student loans that we were able to have this deduction due to income. If the income is...

[NumberWhizMD]

Is that really all you have in your 401k? I find it hard to believe that you've been maxing out your 401k and that is your current balance. I say that...

[NumberWhizMD]

When I was on a variable rate, it was tied to the 1-month LIBOR. You can look at historical data to see how it has trended in the past to get an idea....

[NumberWhizMD]

We recently had this discussion, as we are having a baby in the next year. However, the overall cost of premiums + possible out of pocket maximum was...

[NumberWhizMD]

My daughters got it last Friday. The younger (who also had COVID in January) had no side effects. The older one had significant LAD on the side of the...

[NumberWhizMD]

My vote is to not go build your dream home right now when you have 384k of debt between the two of you and with plans for your wife to buy her parents...

[NumberWhizMD]

After the earlier game this season, that is highly doubtful. Then again, we had a pitiful performance in game 1, so I guess miracles can happen!...

[NumberWhizMD]

I guess I meant that as...the Packers need to actually show up and MAKE the Super Bowl! Now that I'm in a financial position to be able to do it, I...

[NumberWhizMD]

From a purely financial standpoint, it is a completely useless investment. However, my prior gifts of Packers memorabilia typically goes over well. ...

[NumberWhizMD]

My dad is now officially a stock owner in the Green Bay Packers. I will now be the favorite child in the family for this great gift.

Seriously,...

[NumberWhizMD]

Thanks for posting this! Hopeful I can get out of the queue to get my dad a Christmas present! I should've gotten it with the last stock sale, but declined....

[NumberWhizMD]

I personally think that the number of student loan borrowers whose loans are on hold that are investing large sums into the market is quite low. I believe...

[NumberWhizMD]

Depends on your current situation. We refinanced earlier this year from a 30 to a 15, as we could afford either payments and still have good cashflow...

[NumberWhizMD]

No commute is worth it to me. Although it would mean giving up the "dream" neighborhood, I would much rather live closer to work. Currently...

[NumberWhizMD]

Do you have any other type of life insurance? I do the basic at my job, as it is no cost to me. My husband has the same option, and we take whatever is...

[NumberWhizMD]

My second is the youngest in her class. We asked her daycare/preschool before sending her if they thought she was ready, and they said yes. Her kindergarten...

[NumberWhizMD]

I gave up on trying for years as a result of this, as it also used to include several other European countries. However, I just looked and it looks like...

[NumberWhizMD]

Make a separate one for the third. Easy to figure out later if one of them doesn't end up using the money. And with the amount you're planning to fund...

[NumberWhizMD]

Moving sucks, yes. However, from the tone of your email, it seems like you are set on your plan. Maybe I'm wrong, but you've framed the questions as such....

[NumberWhizMD]

Congratulations!

You guys are definitely in a great position! I can empathize with how you feel, as I have always been a budgeter. I think...

[NumberWhizMD]

Refinance! Super easy and nothing like refinancing a house. That extra $1000-2000 can then be used towards something to celebrate!

[NumberWhizMD]

I had a similar situation in my first 2 years out of residency. Loan burden was higher, but combined income was similar, and we were living in a VHCOL...

[NumberWhizMD]

As a female with a husband who has the arm physique to "pull it off", I do think he looks quite nice in a sleeveless shirt! In fact, I got to...

[NumberWhizMD]

We will definitely be traveling, or at least that's the hope/plan (barring any health reasons/physical inability to travel). We are "homebodies"...

[NumberWhizMD]

It is given as taxable income, and then you decide what to do with it. Not as great as a 401k or other tax-deferred option, but it is still money that...

[NumberWhizMD]

Some employers will contribute the full 6% of your salary, but anything above and beyond $17,400 would be considered taxable. It doesn't happen as frequently,...

[NumberWhizMD]

We got upgraded to international business class (basically first class) on a flight this summer. Granted, we were coming back from Mexico. However, we...

[NumberWhizMD]

Ours is supposed to be 3 no shows and you are dismissed. 2 no shows as a new patient and you cannot schedule. After the first no show, there is a charge....

[NumberWhizMD]

Assuming my husband's job and benefits stay the same, our kids have the following options:

1) Tuition free thanks to waiver (with possibility...

[NumberWhizMD]

I typically try to room one first and get in to see them while the other is being roomed. Most of my couples who show up together are older, but I have...

[NumberWhizMD]

I've never been a huge Star Wars person, and only finally watched the movies in entirety as an adult because my kids wanted to.

Although...

[NumberWhizMD]

Typically, when we have drug reps, there will be a sign-in sheet where you designate if you ate the meal. If you don't eat, you check you didn't accept...

[NumberWhizMD]

You can do this! Just take the leap!! It has made my quality of life and home life so much better, and I get more time with my kids.

In addition...

[NumberWhizMD]

Life goal is to end up living on the beach and then vacation elsewhere. If we lived close to a decent beach, we would consider beachfront property for...

[NumberWhizMD]

My life is scrubs at work, and sweats/work-out clothes at home. It's rare that my husband or I even wear jeans, which at this point is considered "dressing...

[NumberWhizMD]

Having no debt is the game-changer here, as you can really choose.

I'll echo what others said, what you want now might be different than...