JAMA Podcast on retirement

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IF we assume that your parents have more than enough for retirement AND they are likely to leave a substantial sum to you, then we can view it as whether...

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I always like WCI's saying that you can have whatever you want but not everything you want Your list of what you want is pretty long for your situat...

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I am in a similar situation and while I try to "live" off my base salary it doesn't always work that way.  Plus I have both 401 and 457 to max which...

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DCdoc wrote: Tech. I hope all 3 of our kids major is some sort of computer related field. Click to expand... Agree with this.  New college grads making 150k with no med school, no residency, no fellowship.  ...

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I suspect seeing medicine as life's purpose is more common in academia than private practice. Some academics can either generate startup or become e...

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FWIW, here is my experience (so far) with 529s as I think I am farther along than most posters I made it to attending hood in 2004 with 2 kids who we...

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I count any "extra" I pay toward my mortgage as savings but not the monthly payment.  You could argue this a million ways but that seems most logical...

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How much would Uber or Lyft cost for a trip and how long? If it is $20/ride you could ride round trip everday and still come out ahead In general I ...

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I moved from a LCOL to a HCOL area 7 years ago after being in practice for about 7 years.  However, the first location was not as LCOL as Texas and the...

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Does the 403b have a Roth option?  I think that would be best since you'd be paying taxes based on your relatively low income now and avoiding taxes...

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One more thing to consider (regarding the original post) is reimbursement rates I work in academics and our reimbursements are much higher than those ...

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I went to private high school and enjoyed it When my kids were young we lived in a city with terrible public schools and sent them to an inexpensive...

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University of Chicago is ranked #3 by US News for undergrad national universities, 1 spot behind Harvard and ahead of MIT and Caltech so it is hardl...

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I also have a 5/1 ARM with a lower initial rate (2.875) but a higher margin (2.25) which will "reset" in October of 2019. I look at a fixed rate as pur...

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ENT Doc wrote:   Regarding the latter issue, we will never achieve 100% index investing. The indicies are based on an active market. Someone needs to set that market. Greed and basic finance...

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I wonder about the $4500 for housing . Looking on Zillow there are houses with 4 and 5 bedrooms for rent for significantly less than that (accepting ...

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I trained in one state and then moved, letting my license in the first state lapse 7 years later I got recruited back to my original institution (I am in ac...

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I think you will be far better off cutting back some now.  The vast majority of families, even in HCOL areas, survive on less than 300K/year Your hou...

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How reliable is the outside income? If it is 100% stable I think you could use the first 33K to pay down the debt starting with the highest interest ra...

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Does she already have a contract? If so I'd tell them she will continue working under that contract until it ends. I am not a lawyer but I doubt the...

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An interesting take on how big a problem this type of thing is in general http://marginalrevolution.com/marginalrevolution/2018/01/collection-action...

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6F with a -10 windchill when I ran this morning

Next weekend is supposed to be colder  

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I echo those who note you are doing great I would consider just sticking with the Target Date funds.  You state you are risk-averse and clearly sti...

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Beer.  My wife just bought me a beer "Advent calendar" where I get a new beer each day.  Sacrilegious perhaps but enjoyalbe That and nice dinners out...

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1. Save more than I spend 2. Complete a 50 mile foot race 3. Read 50 books 4. Get my spouse more up to speed on where we are and what to do if some...

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In 10 years would you rather  1. Be alone with more money than you could even spend? 2. Be together with someone you love but having risked some of yo...

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Craigy wrote: CM wrote: I’ve read that ZeroHedge is a very popular website, i.e., lots of traffic. There may be many ZeroHedge readers lurking among you. Click to ...

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I hated this book 10 years ago Among the other problems already mentioned, they base all their conclusions on the subset of millionaires who were wi...

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The key here is that as interest rates go up, both the interest rate on your ARM and fixed rate mortgages will go up.  So if you don't refinance now...

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Sorry, but you didn’t work a “real” financial planner or he would have done “real” financial planning.It’s an important distinction. He ...

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Also interested   Would be good to have some lead time so skinflints like me can get the book from the library   Ok with any sort of book (or va...

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I think this is fine if you are planning a normal length career If FIREshrink is right (which was also my interpretation)a 30 year mortgage at 3.8% on ...

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At my academic institution we send "offer letters" to successful candidates that spell out the basics like clinical obligations, pay, bonus, etc.  We...

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Life is full of trade-offs, although many appear unaware of this fact. 1. The decision you make about your first job post-residency is not a life-long...

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If he is 18 maybe he should be the one deciding?  When I was young I did all kinds of crazy things like investing in technology funds.  With relatively...

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FWIW When I moved to my current position I had 18 months of paying two mortgages.  It sucked but I survived. Part of my package to move was money t...

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Home equity is fairly easily accessed via a Home Equity Loan or Line of Credit (or reverse mortgage for older folks) Whether it is advisable to do so is...

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I am in academics and have a significant administrative role I see patients 2 full days which works out to about 18 hours per week, plus a couple mo...

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To me you are financially sound but have cash flow issues, so I'd try to conserve cash.  Also moving is typically more expensive than you think going...

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I have several friends in consulting and it is an extremely difficult lifestyle with long hours and frequent travel. I'd also consider looking into employ...

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Why I think Myers-Briggs is stupid The way your "personality" is presented you are either an introvert or an extrovert, implying that the population ...

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I am later in my career (early 50s) and do roughly 1/2 admin and 1/2 clinical For me this is a good balance as I found near 100% clinical time earlie...

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I moved from a very large (4500 sqft) house in a LCOL area to a 3000 sq ft town house in a HCOL area with kids a similar age We are much happier in ...

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I am going/went (Son finishing 2nd year in college, daughter 2nd year in high school) the target date fund route I considered being more aggressive ...

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This podcast from JAMA on physician retirement appears to be free.  It mostly focuses on when you SHOULD retire, not when you COULD; that is at what...

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I had kids "early" (end of 3rd year of medical school and after 2nd year of residency) and am breadwinner for family so at first only saved a little including...

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You guys must really like working to want such high amounts   My "goal" is 2.5M across accounts.  I like my job so I'll probably go past that, ...

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I buy big bags of apples and large jars of peanut butter at the grocery, bring them in to work and eat an apple with peanut butter for lunch everyday....

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David Swenson's Unconventional Success has a pretty detailed look at different asset classes and his thought on which are appropriate for individual investors...

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Wow those are some seriously expensive beers

I buy the occasional $25 bomber and feel guilty.  I had no idea.

 

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You need an expensive hobby  Wine and sports cars would be good starts Bicycling, golf and skiing would be more healthy! Beware of beer and runnin...

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I agree these have gotten a bad rap in the past Many people who take them out don't understand how they work and are then surprised (or their family is) ...

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For anyone interested in knowing more about our opioid crisis I am really enjoying Dreamland: the true tale of America's opiate epidemic by Sam Quinones....

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I use Fidelity and it was easy to set up and no hasssle

 

 

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It is frustrating to me that mortgages are so inflexible (e.g. have to make the same payment every month).  Imagine if a mortgage was more like a HELOC...

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I cannot vouch for the accuracy of this story, but read once that an investment bank paid partners $1000 for attending each partnership meeting.  Any...

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Great thoughts above. Also remember this decision is made at the margin.  While it is easy to think I want to retire at 45 (or 50 or whatever) when you ac...

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By definition, the overall return of all active investors before fees and costs must equal the overall return of the market as a whole. So for every ...

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I just got the 2nd notification in 2 months that someone tried to open a credit card in my name :-(   I wonder if anyone has signed up for one o...

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Mine is too complex but I have multiple accounts in various locations and a current 401/403 with limited options (but some good ones) Overall I follow th...

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Great point. As I head into my 50s, I am consciously thinking about what I want to retire TO. One of my goals this year is to start learning an instr...

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1. Work less/make less. A big part of my compensation is a clinical incentive and this year I'll save more than I spend despite approaching FI.  I enjoy...

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Johanna is tough so don't feel bad   .  I agree with her and others that you don't need to be in too much of a hurry to buy a house, but saving for...

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I am sorry if I didn't get the whole picture, but are there upstairs bedrooms that you have kids occupying? One option might be to kick an older kid d...

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I can't help with fertility issues, but have a similar story in some ways.  I took 3 years off before medical school and then spent 4 years getting a...

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1. Net worth >2M.  Am 51 and annual expenses around 100k so getting within sight of financial independence. In fact, could retire now if I wanted to...

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1. Great trip to Paris and Barcelona with my wife and two teens.  We had to put this off in 2015 because of a sudden illness for my wife (which she fully...

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I have not done this because I wasn't sure my kids would want to go to an in-state school nor that one would be the best fit for them.  In addition,...

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Ha, I didn't realize you were the author! It was a great article, I just like ones where they lay out several scenarios (think Physician on Fire wit...

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I agree although that article is sparse on details The concept of getting money out of a valuable asset without having to move from your home has al...

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Sorry if everyone already know this but both Google and Yahoo finance sites allow you to put in your own set of ticker symbols so you can just read off...

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The White Coat Investor wrote: The repercussion is inflation. That’s how the debt is paid. Click to expand... I am not so sure about this anymore As shown in th...

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I think some primary care docs (and specialists) have a bit of apathy.  Sure it is tougher the less salary you get, but there are lots of options to...

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Vagabond MD wrote: 11. If you do not have a taxable investment account, you are not saving enough. Click to expand... While true for most, there are some exceptions to this I can defer the maxim...

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Apparently not enough  http://www.wsj.com/articles/the-more-cash-people-have-the-happier-they-are-1473645781 I aim for 30k which is enough to buy a ca...

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I have been involved in searches where we used a recruiter.  I work for a big hospital and the hospital, not our practice, was the one that paid for...

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hatton1 wrote: We went to a locally owned place.  Nothing fancy.  Lunch for two probably $20.  Yes DMdoc I am pleased to find a local that I can talk to about the topics discuss...

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I don't have one as neither of had significant assets when we got married (21 years and counting  ).  No kids for either of us then I would echo ...

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Agree with AlexxT that everyone underestimates how much they will change over time.  When I was 20 I was positive I would never have kids.  Now I can't...

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I would say the reasons I've stayed in academia are 1. I like doing "academic" things particularly teaching fellows and residents (and students).  I really ...

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Just finished paying nearly full-price (~60K) for one kid's freshmen year at a top private college. Have almost enough saved for the next 3 years and...

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When I took my current position I got a 100K loan (tied directly toward buying a house or condo) that is forgiven over 5 years The position is in a HCO...

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I would consider NOT paying off your student loan right away It is low rate and your are facing 2 relatively low earning years (compared to both cur...

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Thanks on the tip on Audible which I wasn't previously aware of.  I check out books on CD from my library and listen on my commute and when driving my...

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When we first got married we combined our checking accounts and it seemed to create a lot of minor friction about spending (I was still in med school). S...

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When I bought my first house I thought 4.875 on a 5/1 ARM was incredible (2004).  Everyone gave me a hard time about getting an adjustable rate but the...

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Down about 65k!

 

It helps to remember how fast things went in the other direction after 2008.

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Craft beer and higher end liquor (e.g. High West) but I don't really spend much on it as even better stuff drunk at home is cheaper than swill at a bar...

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My favorite book on investing is http://www.amazon.com/Unconventional-Success-Fundamental-Approach-Investment/dp/0743228383 by David Swensen who ha...

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1. Backdoor IRA and solo 401k from last year near the start of the year (worked out that i waited this year as sent checks Firday) 2. 401k/403k up to the m...