CARES act and withdrawing from 401k to move to taxable?

[hightower]

I’m a TeamHealth employee at a rural hospital. I finally received an email last night from our state health department inviting me to make an appointment...

[hightower]

That does seem unfair, because it is. And I'm sure it's 100% because the insurance companies had better/more lobbying power in Washington. Remember...

[hightower]

Exactly. We've had this happen to us. And it's BS. When my wife was in the hospital after having our daughter (who came early due to pre-eclampsia),...

[hightower]

Well that explains their ridiculous ordering/wait time process. I ordered a Model Y back on Oct 15 and was given a “5-9 week” estimate for delivery....

[hightower]

A pour over requires that you get the water to the exact right temperature first. At 5:30 am I dont feel like watching the stove that hard.
I use...

[hightower]

see above...

[hightower]

Here’s why bitcoin makes no sense to me as an investment.
First, it’s not a company. It’s a currency. It’s like buying a digital dollar....

[hightower]

So, I know you already said you would wait a couple years, but wanted to still give my 2 cents without beating a dead horse. First, congratulations on...

[hightower]

Am I the only one who feels paying a tax that helps society as a whole is not such a bad thing, especially if I’m already banking over $400k a year?...

[hightower]

I used to believe this line of thinking but no longer. Buying a house that expensive means they will be forced to work full time for a very long time...

[hightower]

We’re both late 30’s...

[hightower]

The best ER is like 0.6% or something like that. I will have to read up on the 72(t) you mention...

[hightower]

JBME, About 6-7 years ago I did a lot of research into buying used pianos and ended up settling on an antique Baldwin grand from the 1930’s. Mine is...

[hightower]

This is just a thought I had, so don't shoot me for thinking out loud.

Seeing that we can avoid the 10% penalty thanks to the CARES act...

[hightower]

I've done this many times before for big purchases (such as when we got solar on our house). The only kicker is you usually have to pay a one time transfer...

[hightower]

You'll end up spending a lot of time second guessing yourself every day that you decide to buy or not and over a 20-30 year career, you probably won't...

[hightower]

The reason notes have become filled with overly extensive PE and ROS is 100% because of the rules surrounding billing and documentation. If you don’t...

[hightower]

$100 he finds a reason to upgrade this car his first year of being an attending. Maybe a Model Y performance? Or a Cybertruck Tri-Motor?

...

[hightower]

I personally dont like the idea of taking as long as possible to pay off student debt just because the rates are low. I would bet that 99% of people who...

[hightower]

I’m curious why you were apparently offended by flp’s comment? He brings up a valid point. What do you mean that “you can’t live your life if...

[hightower]

Yeah sure it shouldn’t dominate our lives, but like it or not it kind of does. But most of his supporters are going to take that to mean “ignore it,...

[hightower]

And now he is tweeting for people to “not be afraid of covid, dont let it dominate your lives”. Yeah “Mr President” what do you say to the 209k+...

[hightower]

90% either drive themselves or have a loved one pick them up. The rest rely on some form of public or medical transportation. Their families are happy...

[hightower]

People are justifiably upset that our president would do something that selfish. Although they shouldn’t be surprised that the world’s worst narcissist...

[hightower]

I would totally do it. I wish BMW would offer something like that for my i3. More and more these days I wish I would have waited for the Model 3 back...

[hightower]

So let me get this straight. You admit to being “cash poor” and your excuse is “because everyone else is doing it?”
I hear these same...

[hightower]

That’s incredible. Congratulations to you both on finding such high paying jobs with that background. Here in the midwest a PhD gets you a 50k-80k/yr...

[hightower]

Ah yes, the infamous Bay Area How Much Can I Afford question! IMHO it doesn’t matter where you are buying, a good rule to follow is 2X your income for...

[hightower]

So I’m going to disagree with apparently everyone. It seems we have a lot of people on here who are very comfortable with large amounts of wealth being...

[hightower]

Yeah so I was initially intrigued by these funds when I first heard of them. So I went to their profile page and looked at their holdings. They are virtually...

[hightower]

I didnt say there’s not enough food. I said there’s not enough land to support all the animals we would need to raise in order for the rest of humanity...

[hightower]

I always try to remind people that it doesn't have to be all or nothing with vegetarianism or veganism. You can eat a vegetarian diet for 80% of your...

[hightower]

The healthiest diet is: Definitely not the one I eat!

But, in my opinion it’s probably a diet that closely represents our evolutionary...

[hightower]

I too have a plan similar to yours. We just refinanced to a 30 yr at 2.87%. Part of me wants to just attack the balance like I did student loans and see...

[hightower]

I know this is slightly off topic, but when I found out my wife was going to a dermatologist and being seen by a NP/mid-level, I was quite PO’d. She’s...

[hightower]

The fact you are posting about this here tells me that it is worrying you. If it is worrying you, that’s a sign that your asset allocation is too aggressive....

[hightower]

Late 30’s, hospitalist living in Ohio, practice in Indiana actually. I have a stay at home wife and a 2 yo daughter. Living on a small farm now just...

[hightower]

I remember during med school or residency I had found a company that offered work in Australia for US docs to do primary care. I remember it paid 125k...

[hightower]

The first couple of years that I did backdoor roths I didnt know about 8606. I use Turbotax and they didnt automatically file one either. Then I got a...

[hightower]

Have you gotten any quotes on 30 year loans? We just refinanced our 30 yr at 3.85% down to another 30 year at 2.87%. I found that the 15 year rates weren't...

[hightower]

I agree with you on the battery comment. That’s not talked about enough but I think their battery business has the potential to be their most profitable....

[hightower]

Yes 18% seems like a big drop and when you add that to last week they are down like 30-40% from their peak...but remember that the run up since the announcement...

[hightower]

Eh, didnt think there was much substance to his article. I definitely was not a fan of his suggestion #7. “Smaller purchases typically involve little...

[hightower]

Ask 100 people and you’ll get 100 different answers. There is no general consensus
A lot people on this site however believe in index fund investing....

[hightower]

The good: Being surrounded by nature (we live on a 5 acre plot of land with a pond and we are surrounded by my in-laws 60 acre horse farm). No neighbors...

[hightower]

I personally don’t see anything wrong with making changes to your asset allocation based on your comfort level with the market. You’re still heavily...

[hightower]

True, but it’s not just that investing in index funds is safer, it’s also about not missing out on potential opportunity. If you have all your eggs...

[hightower]

It probably wont matter at all in the long term if you actually accomplish your stated goals. But I recommend you just go ahead and get rid of the rest...

[hightower]

Worrying never stops if you let negative thinking run wild. Even if you had a billion dollars you'd find something to worry about if you don't have control...

[hightower]

So with Tesla selling $5 billion of their own shares does that motivate anyone holding Tesla now to cash out too? I mean if Elon is cashing out, that...

[hightower]

I'm closing on a traditional 30 year tomorrow for 2.87% with First Financial Bank. They were able to get me an appraisal waiver since we have plenty...

[hightower]

I feel for this year’s college freshman and their parents. It will not be a normal freshman experience for these kids. But, I do think things will...

[hightower]

Personally doubt I would ever go for a super car even if I were super rich. I like old cars

I have a 1953 Chevy in all original condition...

[hightower]

I’ve never liked the idea of thinking of your mortgage as a bond. I think it bothers me because I dont see home prices as stable and having a paid off...

[hightower]

In my opinion there is no question here you need to pay off that debt asap. I feel for you though. It is going to be tough once you finally start working...

[hightower]

Yes the newborn phase can sometimes freak out new dads a bit and it’s a stressful time to be home around a baby that does little other than cry, drink,...

[hightower]

Thank you! Now I get it. Congratulations to those with the foresight and balls it took to buy contracts back then. Wowzers!

Second stupid...

[hightower]

If it’s not too much trouble, could you (or anyone else) explain what you actually did here? I tried to read back through various posts and saw something...

[hightower]

Take it from someone who didn't prioritize paying down student loans the first 5 years of attending-hood that no matter what is happening in the world...

[hightower]

Doesn't bother me one bit. GASP!! But a one time tax on billionaires isn't going to solve our problems, though it’s a step in the right direction and...

[hightower]

Your contract is about as good as it gets in the hospitalist world. I’ve been working as a Hospitalist for about 10 years now.

If there’s...

[hightower]

We owned a home in 2008 (during med school, which was our first mistake) and watched its value plummet by 50% when we had to sell it to move for residency....

[hightower]

It's funny that my wife has been asking me about "should we sell our stocks now while the market is up?" lately and I have not really been considering...

[hightower]

I don't mean to beat a dead horse so please don't take this post as criticism directed at you. It's meant to be generalized commentary and your situation...

[hightower]

Yes, you're 100% right. Not only do these sort of rounds ignore the doctor's personalities, but also the patient's. I've noticed many of my patients...

[hightower]

The "right" thing to do is to get rid of your student loans before doing anything else in my opinion. No reason for two high income earners...

[hightower]

We had an initial spike back in April/May, but right now it's been business as usual without any COVID. That could change any day however because the...

[hightower]

The theory is that when asked about things like communication with staff and understanding your stay, they would remember those group rounds and answer...

[hightower]

Well, if you feel you can stomach the risk, go for it. I mean, worst case scenario, you lose your job and cant' afford your payments anymore, you could...

[hightower]

Well, I don't want to say I hate being a doctor (though I'm sure my prior posts give people that impression). I see it as a great privilege to be where...

[hightower]

Thanks for the thoughtful responses. So, if there's one thing I've learned about these sort of situations over the years, its to not react when I'm feeling...

[hightower]

I'm just looking to get some thoughts from other hospitalists or anyone who's had experience with being forced to round on a multidisciplinary team at...

[hightower]

You could rent, could you not? That's my point. You'd be free of debt and still have an income and money to rent. Also, always buy your home without your...

[hightower]

Save up a 20% down payment before you buy and get the best mortgage rate/terms you can find. Otherwise, rent.

[hightower]

You bring up a valid point that I believe is also affecting how we conduct business as physicians. I think you would call it anchoring bias. The tendency...

[hightower]

Interesting read. I think the underlying message is that now, more than ever, it really pays to be living frugally, saving appropriately, and addressing...

[hightower]

I would also say refinance that mortgage to a fixed term (personally I'd go for a 30 yr fixed, but to each their own).
I would ear mark that cash...

[hightower]

With a net worth of 5 million dollars, I see no reason to take out a loan for this. You don't need to sell any investments to pay for this. Just stop...

[hightower]

I vote for paying down the student loans. 300k is no small sum. You've got to get used to large sums of cash going towards those loans for the foreseeable...

[hightower]

I think this thread illustrates perfectly the level of confusion there is going around the US (and probably the world in general) about this pandemic....

[hightower]

Anyway, did anyone see this? I don't know how new this is so I apologize if it's old news. But, great, just what we need.

Multisystem Inflammatory...

[hightower]

I don't go around telling people not to wear masks. I'm in fact in strong support of mask wearing. My point is that I wouldn't feel comfortable around...

[hightower]

Yes, but remember, surgical masks or home made cloth masks (which is what most people use) do very little good to protect from airborne illnesses. They...

[hightower]

I believe the number one reason the EU and many other countries are doing better at the moment is because their governments let scientists do the talking...

[hightower]

If we were talking about any other luxury car brand, I'd totally agree with you. BUT, with Tesla, the reality is these cars hold their values like none...

[hightower]

I honestly feel so sorry for these students who are graduating with such astronomical debt. Even the ones expected to make a reasonable salary, $400k+...

[hightower]

I usually tell people to wait, save, not go over 20%, but there are two reasons I think you should sell and move now. 1. You know you need to move for...

[hightower]

You paid off 110k of student loans in 5 months? Buy your wife a new car. Get the Tesla Model 3. You can pay for it in a couple of months easy. The...

[hightower]

For less than 10k installed you could get a Tesla Powerwall that would be able to power your home in the event of a power failure and would require zero...

[hightower]

Thanks for the replies and thanks for linking to that previous thread.
I'm leaning towards not paying points just because I hope to save more by...

[hightower]

I’ve been looking at refinancing our mortgage since rates have been down. Right now we’re at 3.85% fixed 30yr. Just moved last August so only 9-10...

[hightower]

As someone who lives in a relatively low cost of living area and has made exactly what you two will make for the last 5-6 years, I would NEVER consider...

[hightower]

Boy, I really should have paid more attention to the specialty I choose, lol
What would I do if I was already financially independent? I would...

[hightower]

Could someone explain to me what this job posting is actually for? Sounds like you'd be working for an insurance company doing what? Why would they...

[hightower]

I have no idea what my hospital has been doing to prepare, but I get the feeling nothing. I've received no direct communication from the administration...

[hightower]

That meme could be the official meme of 2020 and this whole pandemic situation, haha, nice find...

[hightower]

I was just texting my wife this morning saying how glad I was that we sold our old house when we did (closed early January). I think we're going to see...

[hightower]

Dont seek medical attention unless you are very ill. I plan on self isolating as much as possible anyway. I dont want to become a target like this poor...

[hightower]

Absolutely not. I will try to avoid this thing like the plague, pun intended. Why? Because viruses like this have a variable effect on people’s immune...

[hightower]

I went to a 60/30/10 AA many months ago in preparation for what I saw as an inevitable recession. I’m glad I did. I will admit that when the markets...