Maldives vs Bora Bora

[ObgynMD]

When do you start your new job? Your tax bracket for FY 2024 will probably be 34% but if you’re only working for a few months this year and max out...

[ObgynMD]

Hadn’t even considered a cruise as an option. Our vibe is old. Will look into that for sure

[ObgynMD]

Thank you so much for this info!! I can’t wait to get stuck in a hotel, whether it’s in Maldives or Bora Bora....

[ObgynMD]

If we go to Bora Bora, Le Pearl was at the top of the list! Good to know that the beach front bungalow was better. Thanks for the tip. Would have wanted...

[ObgynMD]

Hurawalhi looked like a ‘cheaper’ but also very nice place. Would you choose to go back?

Will definitely look into Mirihi. Haven’t...

[ObgynMD]

Planning a milestone birthday/anniversary/bucket list trip sans kids.

Would love to hear about any amazing experiences you all have had in...

[ObgynMD]

FWIW the high paying tech environment seems to have shifted with recent large scale layoffs. We are grateful for our financial foundation knowing we can...

[ObgynMD]

What I would do:

- make sure each kid knows they have “x” amount for college. $210k for college for your daughter is enough. Make her...

[ObgynMD]

Your professor’s research is fascinating. Would you mind sharing sources? I really thought the number was closer to 20-25%. Most people, even doctors,...

[ObgynMD]

This is where we have parked our emergency fund for the last few years.

We’ve liked them. It does take a few days for money to transfer...

[ObgynMD]

Watermelon and salt...

[ObgynMD]

Running an office is a full time job. You may be working harder than you are now....

[ObgynMD]

Talk to your sister: https://youtu.be/IDj1OBG5Tpw

Buy her a buy buy baby gift card for however much you can actually afford. $500 is a lot....

[ObgynMD]

Thank you!! Appreciate the efforts of you and spiritrider....

[ObgynMD]

1099-misc...

[ObgynMD]

They only issue a 1099 if it’s >$600 apparently. Clearly not going to be a recurrent thing but was hoping to be opportunistic since a surprise 1099...

[ObgynMD]

Yes. We feel grateful to have been part of the pfizer covid vaccine trial and hope the data we provided has helped all kids get access to the vaccine...

[ObgynMD]

My kiddo was part of a vaccine trial and the company issued a 1099 for the $700 compensation. I think based on what you said, we should file a 1040 on...

[ObgynMD]

If my kid has a 1099 and made <$1000, do I need to file taxes on their behalf, or can I just open the custodial Roth IRA on their behalf and fund it...

[ObgynMD]

Is something like this what you mean?
https://www.firecalc.com...

[ObgynMD]

I’d say go for it. As long as you don’t touch your retirement accounts and can maintain your desired lifestyle, it could be like a doctor version...

[ObgynMD]

Depends- if they start work in Sept and only have 3mo of attending salary for this year, it’s still a good idea....

[ObgynMD]

Do as bit of a Roth conversion as you can this year!!! It’ll be the last year in a while you’ll be at a lower income bracket.

https://w...

[ObgynMD]

Before the economic downturn, my friends kid got an offer from AirBnb for >$200k (total comp) fresh out of undergrad.

But now there is...

[ObgynMD]

Sounds like ESI Interview 334 is probably someone here. 👏 motivational...

[ObgynMD]

We have two kids and are putting in $30k/yr for 5 years for each kid and then letting it ride. I’m hoping there will be $500-$600k per kid in there...

[ObgynMD]

With all do respect, the studies suggesting people with vaginal bleeding do no need a proper pelvic exam, which includes a speculum exam, are low powered...

[ObgynMD]

Some of us are jerks. It’s still okay to page us if you need us. If we are being jerks (sometimes we are…), document the h*ll out of it and do the...

[ObgynMD]

If in the ER, ok to send to their OBGYN for f/u or if no OBGYN (Eg: homeless) page Obgyn coverage to do it. But someone should do one soon-ish. Just didn’t...

[ObgynMD]

With all do respect, speculum exam for 1st trim bleeders is vitally important. Is it from the urethra, vagina or anus? Is there a fungating mass on the...

[ObgynMD]

Everything of ours is automated. $$ is withdrawn automatically every month to buy VTSAX in a vanguard taxable account. Every two weeks we contribute to...

[ObgynMD]

My vote is putting $ into 529’s instead. Stocks will be on sale for a few years (says my hazy crystal ball). If you are younger like me and our working...

[ObgynMD]

This is helpful. I’ve been on the fence about buying ibonds, but haven’t since it’s not part of our written plan.

And because the...

[ObgynMD]

IMHO it’s hard to be content being a mediocre doc. I value my reputation and sure as heck would not knowingly choose to refer my patients to mediocre...

[ObgynMD]

It does depend on the team within the company. It is not uncommon for people to switch to a team that fits their goals (Eg: more hustle versus more balanced...

[ObgynMD]

Respectfully this is not accurate. Many SWE’s in the Bay Area have balanced lives and make >$400k.

Housing with dinky yards, yes. But...

[ObgynMD]

Wow, 5-10 years without filling the role and not changing the terms? That sounds like leadership has no intention of filling the position and does not...

[ObgynMD]

So interesting. I had assumed the opposite. With the ‘Great Migration’ tons of practices are hiring now so it seemed logical to me that organizations...

[ObgynMD]

Would love to hear your experiences - in what ways are they different? Would you have someone negotiate on your behalf as a new grad? Or during a contract...

[ObgynMD]

I negotiated with a professional negotiator. Thought it was common for large corporations but looks like based on the replies here, that is not the case....

[ObgynMD]

It makes sense that one would not pick a lawyer to negotiate for you in pure PP, but what about other types of practices? Even those notorious private...

[ObgynMD]

Something that came up on another thread made me curious- I had no idea it could be perceived as bad form to hire someone to negotiate on a doctor’s...

[ObgynMD]

Is this not standard? Contract Diagnostic seems to advertise that they do this all the time....

[ObgynMD]

This article is about a freshman in college who spent her summer job money. Anyone else here guilty of doing that besides me?

She is also...

[ObgynMD]

Maybe ask the current job to match the new offer?

[ObgynMD]

So interesting. When I read the article it made sense to me, yet when I think about it, I don’t know of a single physician who has retired in the last...

[ObgynMD]

529’s. Would have wanted to put 150k per kid all at once and just let it grow, but don’t have the cash flow. Instead, we are doing 30k/yr per kid...

[ObgynMD]

Would love to hear more from experienced folks what they wish they knew/did when they started out in medicine.

Tech is great but it’s...

[ObgynMD]

Sell the house and rent a nicer one for the next three years 😎...

[ObgynMD]

Wow. You’ve won the game. I think whatever you decide to do (within reason) won’t matter in the big picture. If you put it in taxable you might leave...

[ObgynMD]

Thank you for this....

[ObgynMD]

Mailed to my house directly. Sounded too good to be true…

[ObgynMD]

The quote I got was $35k, so I passed as well.

Cheaper option just to keep the internet on would be plugging in the router/modem to a uninterrupted...

[ObgynMD]

Solar with a whole house battery

[ObgynMD]

You got your stocks on sale. WCI bought all the way down, and all the way up. Me and my house will be doing the same. Stay the course! (Might help to...

[ObgynMD]

Received an ad for joindeleteme.com. They claim to remove personal information from online databases including location data, SSN, mailing address, etc....

[ObgynMD]

Curious to hear if folks think flying first class has helped any of their travel woes significantly?

[ObgynMD]

Mistakes:
-No plan until several years into attendinghood.
-Used high cost ‘financial advisors’ up until 2 years ago, when we met with...

[ObgynMD]

‘My office will reach out to schedule a telehealth visit so we can discuss your results together. Hope you are well, too.’

edited to...

[ObgynMD]

Will look into exchanging shares. Thank you!

The problem is we are using our 401k to rebalance across all of our accounts, including the...

[ObgynMD]

This was our first year rebalancing and it was complicated. We used one of our 401k accounts in Fidelity and it took several days. We sold the shares...

[ObgynMD]

You prescribed a med before the labs came back, and sounds like the labs were abnl so it wasn’t the right med.

Your partner also rx the...

[ObgynMD]

If you have any savings/wiggle room to save in addition to the 401k match through your attending job, do a Roth conversion in 2022. This is the lowest...

[ObgynMD]

https://m.youtube.com/watch?v=Az-z9xDqihA
Dr. Glaucomflecken has something to say about unions....

[ObgynMD]

They might want to leave the practice. Doubt they are happy with things as they are, and everyone is hiring now.

A little support would go...

[ObgynMD]

Tbh this sounds like a tough place for a new grad to start. It doesn’t sound like much support or mentorship is naturally assessable. Perhaps telling...

[ObgynMD]

“This was communicated to the new hire by a physician in a leadership role months ago.”

Was collegiality communicated in a more informal...

[ObgynMD]

Ideally how much should they have saved in their taxable at this point? Genuinely curious....

[ObgynMD]

Pretty much. Tbh since we’ve started paying attention we’ve tithed more and have been able to put more into taxable....

[ObgynMD]

We tithe monthly from our Fidelity DAF. We put in a lump sum of highly appreciated shares a few years ago and still tithe from that lump sum. Would highly...

[ObgynMD]

I personally would stop the sale of your current house and move back in there. I would try to sell the 24 acres and try to find something else that was...

[ObgynMD]

Ask your employer for a true-up.

[ObgynMD]

I didn’t realize pcp’s get paid to run tests? How does ordering a TSH get the pcp more money?

I also thought pcp’s did ekgs’s routinely...

[ObgynMD]

When it comes to childcare, being at home is the real work. Being at home is more exhausting than going to work.

Your wife will need you...

[ObgynMD]

You don’t have much buffer. I’d rather buy a 2.5mil than build. It will likely cost you more than 2.5mil in the end and you have to live somewhere...

[ObgynMD]

Our plan is 200k per kid (we are funding 30k/yr per kid until that is reached since we can’t cash flow a $150k superfund). If they don’t use it for...

[ObgynMD]

I second this. As a traditional doc it would take a lot of sacrifice to get to 10mm at 50. Extra calls, living frugally. Might be the goal for some, but...

[ObgynMD]

If you have unallocated money, this is your year to do a Roth conversion at the lowest tax bracket you’ll be at for the foreseeable future. You will...

[ObgynMD]

Debt to income ratio ideally shouldn’t be >2:1, this would put you at 4:1.

If you buy this house, you should probably work more, not...

[ObgynMD]

Hey mod’s- ok to close discussion if you think it’s time. I got what I was hoping for out of our financial discourse....

[ObgynMD]

Appreciate the respectful conversation and difference perspectives. Gives us a lot to think about, both financial and otherwise....

[ObgynMD]

My husband went to public school and did great so I know this is true. But now the class sizes are 30/class and one of my kids is socially behind. The...

[ObgynMD]

This is a legit plan. Would help us funnel more money to 529’s for college and perhaps start private school in middle school. This is looking like an...

[ObgynMD]

This is correct. Taking away 80k brings us to <20%, which is uncomfortable. Agree with everyone regarding the ISP....

[ObgynMD]

Very wise as well. Yes, to assume a child will go to public university after shelling out for private school seems lacking....

[ObgynMD]

This is wise. The real question should include if this is worth cutting spending elsewhere, and working longer....

[ObgynMD]

Thank you! Definitely don’t want to start a contentious debate about the quality of education so the question posted for this forum is purely financial....

[ObgynMD]

Debating sending both kids to private school from K-12. Assuming that the private school is a better education (huge assumption, I will do my due diligence),...

[ObgynMD]

You can see if you can project your RMD’s and see what tax bracket it puts you in. The general
consensus here I’ve read is if your marginal...

[ObgynMD]

I would reckon we have WCI to thank for that. He has done our generation a great service....

[ObgynMD]

Genuine question to those who have replied- at what net worth would you guys recommend he take job 2?

I’m surprised that WCI said at 2...

[ObgynMD]

Props to even knowing what you’re spending. Most in your shoes don’t even know this.

I’d recommend sitting down with your partner with...

[ObgynMD]

I thought you pay PMI if your down payment is <20%?

[ObgynMD]

Agreed that implicit bias exists. This online test from Harvard can give one an idea of ‘how bad’ their implicit bias is. It was certainly humbling...

[ObgynMD]

2021: started actually tracking our NW and realized this year we made more from our investments than what we put into the market. Decided to decrease...

[ObgynMD]

Forgive me if I’m reading in between the lines incorrectly, but sounds like it *could* be possible you will not be able to complete your fellowship?...

[ObgynMD]

Should have started Roth IRA’s in college when I started working. Should have done Roth Conversions before we entered our peak earning years (throughout...

[ObgynMD]

Nobody is completely qualified for the job - most people have a foundational background, but lots of learning happens on the job. Once in the door- you...

[ObgynMD]

Not Hatton, but assuming someone has 5 million invested with a 10% return, you’d get 500,000 just in investment returns. That’s probably more than...

[ObgynMD]

We just ripped off the bandaid and sold it all. Paid the capital gains tax. And used a large DAF contribution of single stocks that skyrocketed to offset...