Vagabond MD on Accelerated BS/MD Programs in Pro/Con Post

[WallStreetPhysician]

What Peds said. My reasoning is summarized in these two blog posts: Should You Invest In Municipal Bonds? Keep Bonds Out of Your Roth IRA TL;DR versions: Municipal b...

[WallStreetPhysician]

Very cool, Fatlittlepig. Wall Street Physician also enjoys math. As you implied in your post, country populations, stock prices, and stock balances co...

[WallStreetPhysician]

Assuming your single, it’s time to start going to traditional contributions. Your tax bracket is too high to justify Roth contributions. Of course, ...

[WallStreetPhysician]

I thought the same thing too, did some research and wrote a blog post about it: https://www.wallstreetphysician.com/how-does-vanguard-fidelity-and-schwab-make-money-offering-low-expense-ratio-index-funds/ In short, the...

[WallStreetPhysician]

Hey Live Free MD, great to hear from you, loved your blog posts. Sharesight seems to provide what you are looking for. It is free for one portfoilo, up...

[WallStreetPhysician]

Very interesting website, thanks for sharing. How can this information be used for (or against) you? Litigation?

-WSP

[WallStreetPhysician]

Bravo! Ask him what he’d like to contribute for 2019 and hopefully he says $6,000!

-WSP

[WallStreetPhysician]

Just wanted to alert the forum that the esteemed WCI forum member / frequent blog guest poster / podcast guest Vagabond MD wrote a guest post on my blog...

[WallStreetPhysician]

RadMoneyMD wrote: I currently use a three fund portfolio at Fidelity?  I have a taxable account, a 401k profit sharing plan (Non-prototype as Fidelity calls it), and a Roth IRA.  Is th...

[WallStreetPhysician]

tomato14 wrote: Young physician and DIY, after maxing out the retirement tax advantaged accounts I’m looking to keep things simple in my taxable (retirement) account with the 3 fund portfol...

[WallStreetPhysician]

The original study that Popularized the 4% raw assumed a 30 year retirement. Everyone wants to be optimistic, so they assumed they will live to 95. I...

[WallStreetPhysician]

I would add Capital One Quicksilver as an option; no annual fee, no foreign transaction fee, and 1.5% flat cashback on all purchases....

[WallStreetPhysician]

jayzsurgery wrote: Taking the family on a long-overdue (rather expensive) island vacation later this year. Upon placing the hotel deposit on my credit card, I realized I was charged a “foreign transa...

[WallStreetPhysician]

I finally listened to the podcast on my commute today. He is as well-spoken in podcast form as he is on the forum. WCI, you should consider having him...

[WallStreetPhysician]

I think you understand the main considerations of going without an emergency fund. I think it has almost become a consensus in the physician personal...

[WallStreetPhysician]

I’ll second IJR, which is a commission free ETF at Fidelity. As Vagabond mentioned, FSSVX would be your option if you want a mutual fund....

[WallStreetPhysician]

Since you are a self-proclaimed beginner, I would switch to the target date fund. As others have stated, the target date fund allocation isn’t the best,...

[WallStreetPhysician]

The upfront tax benefits and tax-deferred growth usually make a 403B better than a taxable account, even if your tax rate is slightly higher in retirement....

[WallStreetPhysician]

$3,000 is well within your budget. You’re $25,000 salary will probably be $17,000 or $18,000 after taxes, assuming your wife does not work. Saving 20%...

[WallStreetPhysician]

Even if the number is not real, they will call again and again from that same number unless you block them. Of course, they will probably move onto...

[WallStreetPhysician]

They are the same from a tax perspective. Some minor downsides of ETFs are paying a small bid ask spread when buying and selling, the inability to buy...

[WallStreetPhysician]

AR wrote: CordMcNally wrote: Conservative presidents appoint conservative justices and liberal presidents appoint liberal judges. That’s how it’s been my entire life. As with most thin...

[WallStreetPhysician]

HumbleInvestor wrote: Hi, I have two kids under 7 and we have not started any 529 yet. Do you open one 529 account per kid or one account for both kids? My wife and I h...

[WallStreetPhysician]

AR wrote: Zaphod wrote: I use ETFs exclusively. MF have some legal/tax issues that can be problematic depending on where your funds are. ETFs have their issues as well, but...

[WallStreetPhysician]

I use ETFs in my taxable account, and mutual funds in my retirement accounts.

-WSP

[WallStreetPhysician]

https://www.npr.org/2018/07/12/628549616/fast-food-chains-back-away-from-limits-on-whom-they-hire I heard this story on NPR about how fast-food chains rout...

[WallStreetPhysician]

https://itunes.apple.com/us/podcast/white-coat-investor-podcast/id1197082547?mt=2

This assumes you are using iPhone.

[WallStreetPhysician]

Hank wrote: Does it strike anyone else as odd that they have alumni funds for graduates from all of the Ivy League schools except Princeton, then offer alumni funds to graduates...

[WallStreetPhysician]

The White Coat Investor wrote: xrayvsn wrote: Now that Trump is no longer on NBC doing Celebrity Apprentice, and to get my junky fix for reality TV in this genre I propose the foll...

[WallStreetPhysician]

pfaucette wrote: I’m having an internal debate whether I consider all my retirement accounts as a single large account when rebalancing to my preferred allocation, or whether I treat each account sep...

[WallStreetPhysician]

Rogue Dad, M.D. wrote: PhysicianOnFIRE wrote: That’s awesome and insane. Did a bunch of people follow you as a result? Hopefully not my 9-year old. He still believes in the tooth ...

[WallStreetPhysician]

dgu334 wrote: I will have a salary of roughly $54,000 this coming year.  I am wondering what gets deducted from that paycheck.  $54k currently resides in the 22% tax bracket but is th...

[WallStreetPhysician]

Vagabond MD wrote: Yes, she cannot keep it all straight. It’s quite simple, actually: Whole Foods and Amazon on the Chase Amazon VISA Groceries (otherwise) and Gas on the Ally VISA Card (except April-...

[WallStreetPhysician]

DesertDoc wrote: I’ve been reading about tax adjusted investing (reducing account balances by expected marginal bracket or long term capital gains rate at retirement).  ...

[WallStreetPhysician]

Phantasos wrote: I have noticed that there are several threads on taxable accounts and tax efficiency (including outside articles by jfoxcpacfp and PoF). After reading Phil DeMuth’s boo...

[WallStreetPhysician]

Outdoors wrote: I wanted to pose a hypothetical question on cost of living and location of Residency. As I started calculating out a budget on 60k in a city like Boston or New York I...

[WallStreetPhysician]

huskie92 wrote: Hi all, How do expense ratios for target date funds compare to individual mutual index funds? Is it just a sum of the parts? Or is it better to get lower ...

[WallStreetPhysician]

Physicians Capital Management LLC wrote: This quote comes from this morning’s letter from Buffett, page 13:  “It is a terrible mistake for investors with long-term horizons — among them...

[WallStreetPhysician]

White.Beard.Doc wrote: I didn’t think this was even possible, but I checked my credit score today and this is what I got.  What a shock! An 850 credit score is not the kind of thing you ca...

[WallStreetPhysician]

Adrian wrote: Hello all, I would appreciate your help with regard to my Fidelity retirement account. I plan to retire in about 30 years. I currently have the 2045 Tar...

[WallStreetPhysician]

New Guy wrote: I am probably not going to pursue this route because I really do not enjoy the work involved with being a landlord from my “accidental” rental property left over from residency. Even w...

[WallStreetPhysician]

FlermoenMD wrote: My employer just added a Roth section to my 401k. This brings up a few questions.   If I use my employer Roth, am I able to put in the $18.5k to my 401k and...

[WallStreetPhysician]

jfoxcpacfp wrote: Nope, employer accounts are not counted for pro-rata purposes. Only “Individual” retirement accounts, a.k.a. IRAs, including SEPs and SIMPLEs. Cli...

[WallStreetPhysician]

notadoc wrote: 97% of Vanguard households did not trade in the recent correction, asset manager says https://www.marketwatch.com/story/vanguard-investors-kept-their-cool-during-stock-market-turmoil-2018-02-16 Cl...

[WallStreetPhysician]

hatton1 wrote: I have finally started a blog of my own.  It will discuss topics about retirement pertaining to docs without pensions or health insurance.  Or anyone else ...

[WallStreetPhysician]

Vee Tee wrote: Which is better a physician loan in 1 year and refinance in a few years after saving 20% down or save up in a few years for a standard 20% down payment? Click t...

[WallStreetPhysician]

notadoc wrote: Buying stocks at the 3 worst times in the past 30 years still proved the best place to invest https://www.cnbc.com/2018/02/06/bespoke-paul-hickey-buy-dips-because-buying-at-past-tops-still-paid.html   Click to ex...

[WallStreetPhysician]

Johnny RN wrote: Wife finished fellowship last summer and we spent the fall getting caught up a little on the things that needed to be squared away. We want to deal with our IRA’s...

[WallStreetPhysician]

Thoraeus wrote: I used Contract Diagnostics a while back to evaluate a contract when leaving my old position.  I have to say, if you are looking for interpretation of tricky legal language, then I would recommend aga...

[WallStreetPhysician]

Johnny RN wrote: I guess also adding to that, we plan are saving for some home renovations, so whatever we aren’t able to come up with in cash would also prob be ...

[WallStreetPhysician]

djohnflatfeecfp wrote: For those of us not in the field of medicine, this definitely catches my eye. From the article – “Injecting minute amounts of two immune-stimulating agents directly into...

[WallStreetPhysician]

Johnny RN wrote: We are currently maxing out 403b/457 and putting 11k for roth as well as money in kids 529 as my wife finished fellowship last summer. We just paid...

[WallStreetPhysician]

So essentially instead of volunteering to be a director, PoF would have had to pay to be a director through insurance?

-WSP

[WallStreetPhysician]

When the five largest companies in the world are all tech stocks -- Facebook, Amazon, Apple, Google, Microsoft -- it seemed reasonable to me. Not sure...

[WallStreetPhysician]

lost wrote: Is it reasonable to have total 21% of portfolio in technology sector with about 26 yrs. of investment/growth period & stable other parameters(i.e cash reserve, necessary insu...

[WallStreetPhysician]

docnews wrote: Wall Street to Vanguard: We’re Not Your Doormat https://www.wsj.com/articles/wall-street-to-vanguard-were-not-your-doormat-anymore-1517157915 If you ca...

[WallStreetPhysician]

Donnie wrote: WallStreetPhysician wrote: No, the 4% rule did not take into account taxes. You need to take that fact into account when you calculate how much you ...

[WallStreetPhysician]

No, the 4% rule did not take into account taxes. You need to take that fact into account when you calculate how much you have for retirement. Roth IRA...

[WallStreetPhysician]

A lot of people dial back their stock allocation as their portfolio value rises. Losing 50% on a million dollar portfolio is much more painful than losing...

[WallStreetPhysician]

cgossage wrote: jz wrote: The tax efficiency of your account options: 1) 403(b), 2) Roth IRA, 3) taxable. That’s the order to fill up. At your age, you are already del...

[WallStreetPhysician]

Were Roth conversions permitted beginning in 2010 or 2008? Asking because I'm running a post on this footnote tomorrow and want my dates right. http...

[WallStreetPhysician]

I'd be careful -- it's easy to say you don't care when the market has gone straight up for 8 years, harder to stay 100% stocks when people say that we're...

[WallStreetPhysician]

Yea, I'd do the three fund portfolio using S&P 500 (ER 0.035%), international index (ER 0.06%) and us bond (ER 0.045%). Great investment options. To...

[WallStreetPhysician]

NotADoc wrote: The page isn’t working as of right now. Both the link above and in the blog post returns: ERR_EMPTY_RESPONSE Click to expand... I just clicked through and the link looks fi...

[WallStreetPhysician]

justlearning wrote: My spouse has 403/b plan from her employer. We manage the account via Fidelity and it has  some general investment options. We are still reading WCI and  learning the rop...

[WallStreetPhysician]

Ryan wrote: WallStreetPhysician wrote: LizOB wrote: An ad for this popped up on my facebook feed. Looks like another site that aggregates your accounts to trac...

[WallStreetPhysician]

Phoenixdown99 wrote: I am not sure if switching an index fund in US stock to international stock really matters. Don’t most international markets basically follow the US market? Click to expand... ...

[WallStreetPhysician]

Phoenixdown99 wrote: The simplicity of the 3 fund portfolio does appeal to me. I’d like to get some bonds given that I just got a bunch of stock and I am worried about drop. Which one should I conv...

[WallStreetPhysician]

TheGipper wrote: It always strikes me how easy it is for “veterans” to give the advice of “stick with your AA” As most of us are painfully aware, few are savvy enough to do this well (cr...

[WallStreetPhysician]

LizOB wrote: An ad for this popped up on my facebook feed. Looks like another site that aggregates your accounts to track spending, net worth, etc, but also compare...

[WallStreetPhysician]

Phoenixdown99 wrote: Hi there, I just opened up my first taxable account and put 40K into the Vanguard Total Stock Market fund. I know the stock market is really high right now, but I didn’t want...

[WallStreetPhysician]

Tabaxus wrote: WallStreetPhysician wrote: I’m not an insurance agent, but I believe your rates don’t get any lower if you have a lower BMI as long as you have no medical conditions. It’s like your credit s...

[WallStreetPhysician]

This is absolutely ok. Over time, you will continue to read and may find that the asset allocation of the target-date fund is different than what you...

[WallStreetPhysician]

I'm not an insurance agent, but I believe your rates don't get any lower if you have a lower BMI as long as you have no medical conditions. It's like...

[WallStreetPhysician]

I think it would be helpful to spread the word about financial medical education if there was a common hashtag that bloggers, financial professionals,...

[WallStreetPhysician]

hightower wrote: So, I read through the transcript of the WCI podcast this morning.  Jordan Goodman from Money Answers talked about this concept of Equity Optimization/Mortgage Acceleration...

[WallStreetPhysician]

Notorious BNG wrote: As we reach the end of my first year with an actual financial plan, it comes time for me to think about rebalancing. I originally had planned...

[WallStreetPhysician]

Skibadger wrote: y fiancee makes about 50k a year and pays for most of our expenses, she is currently putting money into the hospitals 403b plan and meets their match, I think it is a 4% match. We pay 1600 a month i...

[WallStreetPhysician]

redsand wrote: I am in a low-paid (by medicine standards) specialty and I am currently in training, looking for an entry-level position.  Many of my job prospects are at academic medica...

[WallStreetPhysician]

In general, you want to avoid selling shares for the purposes of rebalancing. Ideally, you would rebalance your portfolio by using new money to correct...

[WallStreetPhysician]

Of the options you listed, I'd probably rank it #2 --> #1 --> #3. Especially if you're going for plastics, I think going to a top-ranked school will put...

[WallStreetPhysician]

Vagabond MD wrote: Here’s the story. I was solicited to participate in a phone interview for a pharma company. I was offered $350 per hour, prorated, for an anticipated 45-...

[WallStreetPhysician]

hatton1 wrote: Distribution..it paid out a dividend. Dividend plus new value of shares= old price.  Mutual funds do it this time of year also Click to expand... I think ...

[WallStreetPhysician]

Welcome! I think many of your specific questions have been addressed by others. I'd point you to foreignbornmd.com, a blog written by an IMG. -WSP...

[WallStreetPhysician]

What about requiring moderation for new members who post their first thread in Chinese / non-English?

-WSP

[WallStreetPhysician]

You're in great financial shape. Consider term life and own-occupation disability insurance in residency. I would probably avoid moonlighting unless you...

[WallStreetPhysician]

EM/CCDOC wrote: I am about to open my first individual 401k and plan to use a 4 -5 index fund portfolio, ideally with vanguard ETFs. Option 1: Open account with E trade, buy vanguard ETFs each month. That wo...

[WallStreetPhysician]

gregslobos wrote: I am 24 and married. I work in research and my wife is a nurse. I will start medical school this coming July and I have been trying desperately to pay off my student loan...

[WallStreetPhysician]

NJDoc wrote: My daughter has left over 529 funds that are designated for her grad school However, there may be a marriage forthcoming before or during grad school. Would her newly married s...

[WallStreetPhysician]

WealthyDoc, I think investors generally become more conservative as their assets grow. When it's millions at stake instead of thousands, and you are...

[WallStreetPhysician]

Anyone on this forum going to take Fidelity up on this offer?

https://rewards.fidelity.com/offers/cashdepositbonus

-WSP

[WallStreetPhysician]

Once they realize that this is a horrible idea politically, they'll be like "jk we forgot a zero there, we're actually RAISING the limit to $24,000"...

[WallStreetPhysician]

Since you'll be with Schwab, there's no reason to use Vanguard funds. There are transaction costs/commissions associated with buying Vanguard funds at...

[WallStreetPhysician]

Many of these seasonality correlations have been mentioned in the lay financial press and by others in this thread. The question is why does such a seasonality...

[WallStreetPhysician]

There is a philosophy in the travel rewards space to "earn and burn". Airlines and credit card programs are always devaluing their points. Inflation...

[WallStreetPhysician]

Congratulations on getting married and getting started with investing during residency. You are correct as a resident to use a Roth IRA instead of ...

[WallStreetPhysician]

ajm184 wrote: PITA Click to expand... ajm184 wrote: Though I don’t currently hold any ETF’s, when I did I tended to treat them like stocks in terms of a buy/sell order...

[WallStreetPhysician]

Flyover wrote: Hi, I am curious if anyone is investing in equal weight ETFs? The Guggenheim S&P 500 equal weight ETF (RSP) has cut the expense ratio to 0.2% from 0.4%. I am wondering if this mi...

[WallStreetPhysician]

Queue wrote: I remember reading about celebrating milestones in a post written a few weeks ago. We just crossed over into 5 digits in our investment account. Ev...

[WallStreetPhysician]

Vagabond MD wrote: It sounds silly as a headline, and admittedly I am playing devil’s advocate, but one can make an argument that older, financially independent docs are limiting opportunities for younger docs, es...