Saving 20% of income when you don't have any

[bonebrokemefix]

Little bit of a necropost here, but I'll take a shot before posting a new one

I'm in a similar boat, with a little bit older of a teenager....

[bonebrokemefix]

I'm glad you said this, every post I see makes it sound like it's the very next day that this happens. It always seems like I have unavailable shares...

[bonebrokemefix]

We used to have a VW Jetta, which for reasons I can’t remember was a pain to do the oil changes on. Fairly certain it was the ground clearance in comparison...

[bonebrokemefix]

My med school has stopped sending me solicitations after I sent them all back every time with a letter recounting the day during first year that the cranky...

[bonebrokemefix]

Hope is not a plan.

[bonebrokemefix]

I can’t speak to to services other than Army, but you do not have to live close to where you drill. You used to be able to deduct travel if there was...

[bonebrokemefix]

When you join the reserves you are signing up to join a specific unit. The best option is one local to you, but sometimes the fishing ain’t the best...

[bonebrokemefix]

Airborne and Air Assault are Army schools. Sure, there are other services that send folks to those courses, but only when needed. If there are AF reserve...

[bonebrokemefix]

For the employed subspecialists, have they continued to pay you at Pre covid rates? Any concessions for RVU targets or other production metrics?

[bonebrokemefix]

Which tax deduction?

Not sure if this would apply to an IC, but if as an employer you aren’t required by EPSLA to pay out sick leave, I...

[bonebrokemefix]

In efforts to automate and track my savings, rather than take each paycheck and do novel math each time, for the last few years I've just taken last years...

[bonebrokemefix]

How does running afoul of the wash sale rule manifest itself? As in, how do you find out that it happened? Only through an audit? I think I’m good with...

[bonebrokemefix]

He was not saying you HAVE to do that, just that it makes it easier for him to avoid accidental wash sales by not having large cap elsewhere in his portfolio...

[bonebrokemefix]

I know this is old hat for the regulars on here, but I feel like popping the TLH cherry is a rite of passage, like paying off loans or net worth milestones,...

[bonebrokemefix]

I’d be pissed if I got shorted call pay regardless of my seniority....

[bonebrokemefix]

Maybe it is dept specific and has to do with the matching?

[bonebrokemefix]

I did copy and paste from the beginners stickie, if that might cause dark text?

[bonebrokemefix]

I am currently getting partnership income, albeit at a lesser percentage for a period of time unrelated to the payoff of the loan (which is serviced by...

[bonebrokemefix]

While she has made the hard to argue with assessment of my status as one of “part-time husband”, she is indeed a full-time wife, who happens to be...

[bonebrokemefix]

Stage of Life: Early career, approaching mid-life

Social Situation: Wife part-time, 3 pre-teen(ish) kids

Annual Income: ~$425K

...

[bonebrokemefix]

I would agree with that. Shouldn't be that difficult. Married but holding out at single, another 300 per pay period was what one of the several different...

[bonebrokemefix]

I’m behind on my safe harbor 110% withholding, as I can never get my w4 just right. At this point can I send in a payment outside of the payroll deduction...

[bonebrokemefix]

I was putting my oldest son to bed one night and he asked me what it meant to get fired. I said basically it meant your boss felt like it wasn’t necessary...

[bonebrokemefix]

I did a back door for wife and I earlier this year. No pro data issues at that point. She has now become eligible for a SIMPLE IRA with her employer....

[bonebrokemefix]

What type are you? I know the area pretty well, but PM system seems down.

[bonebrokemefix]

Mapplebum, you’ve lived all those places? While we’re spreading vague platitudes, I’ve heard all Tampa has to offer is crappy sports fans, most...

[bonebrokemefix]

Granted, I am still in the building phase, but a new patient even if nonsurgical will still typically be able to get in within a day or two. Just because...

[bonebrokemefix]

I had a patient awhile back that came in for sole purpose of establishing relationship so I could care for her after her already scheduled surgery several...

[bonebrokemefix]

That was my question, what are the logistics of getting the pt to the office at the exact time a conversation happens. I would think there would be a...

[bonebrokemefix]

Ours is set up so that the buy-in is pretty small, but then you are on a partial distribution for a set period of time. Ends up being a pretty big chunk...

[bonebrokemefix]

@Tim, exit/cashing out would be the former, (fmv x share)-loan balance. I like the simplicity of the ignore it strategy. Would most attack this with s...

[bonebrokemefix]

Code of the West was that the posts go on the owner side of the wire fence. The Code of Common Sense would tell you posts still go on that side when putting...

[bonebrokemefix]

Now that I have MY education paid off I have started to look into saving for my children’s. Silly question, but for multiple kiddos does a 529 get...

[bonebrokemefix]

Probably That’s How We’ve Always Done It.

If you keep doing what you’ve always done, you’ll keep getting what you’ve always gotten

[bonebrokemefix]

Our retirees get partial dividends for a period of time after leaving, including their buy out when they do.

[bonebrokemefix]

abds wrote: IntensiveCareBear wrote: Scarftheverb wrote: Ortho residency is brutal (at least at the places I trained), but lifestyle after residency seems to largely be di...

[bonebrokemefix]

This may be a somewhat pedestrian question. Our practice has a real estate arm that is separate from the medical side, although included in the buy-in....

[bonebrokemefix]

Seems like the consensus is that having any of the TLH-friendly partners being purchased in accounts other than the taxable one is, while maybe not specific...

[bonebrokemefix]

When the test results are available I will have staff call with everything but a result that would require intervention or significant further discussion....

[bonebrokemefix]

I work 2-2.5 days in OR most weeks. Remainder is clinic. It is usually not the best idea to get into something based on the perception of lifestyle. ...

[bonebrokemefix]

Sent in my last payment today. Refinanced 270K worth of med school loans 6/2017. Finished it up just in time to replace it with practice buy-in debt,...

[bonebrokemefix]

If you want to be able to reach me for professional advice/opinion/treatment/random nursing question about whether or not patient can have Benadryl, I...

[bonebrokemefix]

snowcanyon wrote: ...Internal medicine seems really easy to cut down... ...As for a subspecialty, you’d get better advice if you shared what field you are in... Click to expand... That w...

[bonebrokemefix]

jfoxcpacfp wrote: Interest on debt to buy into a practice is considered investment interest. It is deductible on Schedule A as an Itemized Deduction but only against net investment income. NII includes short-ter...

[bonebrokemefix]

Not intentional necessarily, just a collection of relics in a lifecycle fund from fellowship 403b. And probably truly inconsequential, since I rounded...

[bonebrokemefix]

I thought I was in the same boat, needing to even out my AA with bonds this year in a new taxable acct, until Peds pointed out recently that I'm probably...

[bonebrokemefix]

Our new patients often don't have a doc preference, but they have a location preference. Our group has offices over a large geographical area; that is...

[bonebrokemefix]

Perhaps a, rather than the mantra. Not like I made it up. Maybe it could be more accurately phrased, "there are some bonds that could go in taxable"?...

[bonebrokemefix]

Dreamgiver wrote: https://www.bogleheads.org/wiki/Tax-efficient_fund_placement You are welcome! Click to expand... That is way helpful, and I wish I'd seen it prior...

[bonebrokemefix]

Tons of good advice in here. However, I think one place to start your search for more patients is at their initial contact point for your group, i.e....

[bonebrokemefix]

I think you have to have some panache to pull this off anywhere east of the Mississippi or in the People's Republic of California/Pacific Coast. I th...

[bonebrokemefix]

Would definitely not entertain the thought of NOT doing the profit-sharing. I just meant that I only recently learned that I am essentially paying for...

[bonebrokemefix]

Peds wrote: Loans are not savings…. Click to expand... I could see that for consumer debt, and I didn't specify. At any rate, half of my gross income went to mortgage/student loan...

[bonebrokemefix]

I am eligible for profit-sharing with my group, topping off the 55-56k total 401k contributions per year. I have counted the 18.5-19k of employee deferrals...

[bonebrokemefix]

My longtime budget-resistant spouse has come around a bit after a recent discussion we had. Probably helped that we did it over cabs at her wine club...

[bonebrokemefix]

Is "goodwill of the group" typically some thing that is arbitrarily assigned a monetary value in these discussions? I've heard the above sentiment, that...

[bonebrokemefix]

Peds wrote: if you are doing backdoor rIRA, do not periodically invest. save up 6K, lump sum, then convert. so much easier. doesnt matter if it takes a few weeks/months.  don...

[bonebrokemefix]

I tend to think of saving in lump sums rather than per pay period spread out over the year. For instance, I've read advice on backdoor Roth being done first thing ...

[bonebrokemefix]

Andrew wrote: So when I let automatically reinvest  all dividends and interest in VTI do i pay each time 6.95$ transaction fee?? Click to expand... Slight necropost to see i...

[bonebrokemefix]

What specialty? Sounds very similar to the CJR/BPCI programs in orthopedics. Doesn't sound like much downside; if you don't meet the benchmarks you'll...

[bonebrokemefix]

I remember sitting in the lecture hall during my MS1 year at a public university and the assistant dean admonishing us about something or another, and...

[bonebrokemefix]

I think someone mentioned up top, but if he isn't pulling hard enough on his end, essentially you are loaning him the money and not seeing the potential...

[bonebrokemefix]

"The one absolutely unselfish friend that man can have in this selfish world, the one that never deserts him, the one that never proves ungrateful or...

[bonebrokemefix]

richardP wrote: can take call at a bunch of places...give up my left kidney Click to expand... Is this either/or? I don't know, I might give that some more thought....

[bonebrokemefix]

This thread is depressing. I guess I'll just plan on tapping out at 65. Makes me wonder if it is worth it to put in enough Uncle Sam time to have Tri...

[bonebrokemefix]

That's an interesting point about complications, and one I've thought about. Mainly because I would imagine those same docs that you get resistance from...

[bonebrokemefix]

jacoavlu wrote: What is your goal? Time off? Less call? Different compensation structure? Click to expand... I think a lot of it is the ability to take time off and not think...

[bonebrokemefix]

May have been on smartmoneyMD blog, but I saw a recent article on "5 ways to get time back" or something similar. One was to become a permanent locums...

[bonebrokemefix]

Collections had only slightly outpaced overhead; practice had yet to become profitable. And getting overhead support from a hospital came with contractual...

[bonebrokemefix]

uptoolate wrote: ...why not try it for a year – you learn a ton about the specialty and practice management, get huge experience with a supportive group, and make a ton of money... Click to expand... My experience out of re...

[bonebrokemefix]

We'll see if the attachment works. The only one missing from the list is the brokeragelink, which I think costs $100 a year, with 4.95 fees for stoc...

[bonebrokemefix]

My work plan has a few companies that I recognize, and others that I've heard of but don't know too much about. There are no Vanguard choices, and as...

[bonebrokemefix]

What didn't work about being employed? It seems like two things I read before entering practice was that buying in to "goodwill" is dead, and that yo...

[bonebrokemefix]

Wanted to get a another set of eyes on my probably common situation if someone would indulge me.   39 y/o surgeon, with stay at home spouse for...

[bonebrokemefix]

Johanna that post was essentially the impetus for my question! And your zeal for the solo K is contagious; opened mine today! And later in clinic I saw...

[bonebrokemefix]

Would the OP's 403B be treated like a 401K with respect to having a clean slate come 12/31 for backdoor roth?

[bonebrokemefix]

I'm a w2 employee, but also have 1099 income for 2017. By the end of the year I hope to have a solo K in effect, mainly as a place to dock some tIRA funds...

[bonebrokemefix]

Bonez wrote: bonebrokemefix wrote: “Iscribe”. May be a proprietary interface with PrimeSuite, not sure if it has any other applications. Integrates with daily clinic schedules, voice r...

[bonebrokemefix]

"Iscribe". May be a proprietary interface with PrimeSuite, not sure if it has any other applications. Integrates with daily clinic schedules, voice re...

[bonebrokemefix]

I don't have access to current employment 401k for 2017; not eligible until January. I haven't made any contributions for 2017 to the rollover accounts. Sh...

[bonebrokemefix]

The larger 2 accounts (24k and 15k) were actively rolled over from government employer pension plans into private IRAs. The smaller one (8K) is a 403B fr...

[bonebrokemefix]

Did I wait too long? Spouse doesn't have an IRA, but want to put her $5500 in. Transfer may not be complete by deadline.

[bonebrokemefix]

I am in a private group, but pre-partner so I guess yes, technically an employed position. Not eligible for group's 401k until next year. I can do some...

[bonebrokemefix]

I am a new attending with three retirement accounts left over from previous employer/residency/fellowship. I think they were all pre-tax contributions into...