I quit

[GXA]

There are lots of good points expressed here.

We started down the elite private school route and transitioned them to the “average rated”...

[GXA]

I refinanced with them in late June. It was smooth and took less than a month. The rates were great and they waived the appraisal....

[GXA]

Our public schools are going back this week - online only.
Fortunately my kids are old enough to be self sufficient and are fairly diligent students....

[GXA]

Take a look at better.com. If you have an AmEx personal credit card you can get an additional $2500 credit if you apply by 7/25. Northpointe bank also...

[GXA]

These are similar to CDs, though through an insurance company and not FDIC insured. The surrender fees (early withdrawal penalties) can be stiff. If...

[GXA]

That is a significant improvement in rate, I have not done a careful calculation, though I bet you are much better off refinancing if you stay in the...

[GXA]

Mine is at Fidelity and I have been satisfied with the brokerage/product. It would be a convenient choice as your current 403 is there.

[GXA]

I use the Fidelity CMA as my checking account. Paychecks deposited there and bills get paid out of there. The default sweep account is very low yield,...

[GXA]

The other advantage of a 30 year mortgage that is discussed less often is a hedge against inflation. A mortgage payment is a fixed, nominal payment and...

[GXA]

Assuming the 10% down payment vs 20% down payment question does not affect the amount of house you buy, this question is essentially identical to the...

[GXA]

We just took our dog in yesterday and the receipt is still on the counter. This is a bit of an urban vet clinic - so likely less expensive than an ups...

[GXA]

In our democratic emergency medicine group there is a shift differential with nights at a rate 10-15% higher than days.  That seems to be enough to get...

[GXA]

We are fortunate to be in a LCOL area and spent 1x our income for a nice home with decent schools.  Though I agree there may be no “forever” home....

[GXA]

Good point - as a 44 year old emergency physician, I was able to cut back to half time last summer.  I plan on working until at least 50. We have a p...

[GXA]

Agree! Manage your expenses so you can work a reasonable hour/patient load.  Maintain your varied interests both in the house of medicine and during ...

[GXA]

PhysicianOnFIRE wrote: GXA wrote: Thank you for the support! I do have a plan! I will be taking about 6 weeks off and am then joining a local group with an obligation t...

[GXA]

MPMD wrote: Also curious about the specific factors that led to resignation. Click to expand... Lots of things.  I work for a large organization and have been...

[GXA]

snowcanyon wrote: @gxa what field are you in? Click to expand... Emergency Medicine...

[GXA]

...

[GXA]

We also front-loaded a significant amount into a DAF - so according to our tax return we gave quite a bit less, but the charities are still getting about...

[GXA]

Unfortunately, as we tracked our spending the last few years, the grocery row on the spreadsheet included spending at Costco, which includes alcohol,...

[GXA]

I assume this is in a tax deferred retirement account (403b?).  You will not be taxed on distributions annually, but rather when you ultimately withdraw...

[GXA]

One of my partners recently went back for a one year palliative care fellowship and loves it!  He has a few local job offers halfway through his fellowship. W...

[GXA]

I tracked carefully for 2017 and 2018.  We do not have a strict budget and it was remarkable how similar the years were. I use excel and track: hom...

[GXA]

Thank you for the support! I do have a plan! I will be taking about 6 weeks off and am then joining a local group with an obligation to work 60 hours a ...

[GXA]

I will be buying I-bonds before the end of the year as part of my bond allocation.  Safe, reasonable rate, tax deferred.

[GXA]

One of my partners cut back to a 0.75FTE a few years ago (about 10 years out of residency).  He was the primary breadwinner and not FI.  He was getting...

[GXA]

Marko-ER wrote: Others have mentioned ability to lug kids around.  Perhaps a bigger concern — are any of your kids boys?  Will it be completely off-limits and will you/...

[GXA]

hatton1 wrote: Out of curiosity do you still drive the corvette? Click to expand... Absolutely!...

[GXA]

Lithium wrote: Out of curiosity, did you just email your director a resignation letter or schedule a meeting? Click to expand... Scheduled a meeting, though the r...

[GXA]

hatton1 wrote: I would not be surprised at all now that GXA has given notice if a new opportunity presented itself.  After all I sent out notices that I was retir...

[GXA]

...

[GXA]

I want to start by thanking WCI and PoF for helping me understand the concepts of FI and work life balance. I  am in my early 40s and am tired of al...

[GXA]

  Current: 2009 Infiniti G37 with 140,000 miles and 2016 Corvette (10,000 miles) for fun Spouse: 2015 Acura MDX with 50,000 miles value/net worth:...

[GXA]

I also work in smaller EDs affiliated with a larger academic system.  Maternity leave for us is up to 12 weeks off, with short term disability kicking...

[GXA]

15M is only double 7.5M.  If you anticipate that in 7-8 years, that is an approximately 10% return looking forward. While 10% is nothing to sneeze a...

[GXA]

Hard to know without knowing the specific details from the hospital’s perspective. It is odd to be holding the competent adult in the hospital despite the...

[GXA]

Our full time Emergency Physicians work 12 shifts a month - we can take as much time off as we want, so long as we get an average of 12 shifts in a month. ...

[GXA]

Given your situation, I would certainly cut back if you are able to at your workplace. One of our ED physicians cut back to a 0.75 FTE (9 shifts a mo...

[GXA]

I would also recommend converting.  For those that did not, I certainly would not feel bad.  This is unlikely going to a make a significant difference...

[GXA]

Just spent five nights in London with our family and booked a place on Flipkey (Trip Advisor's version of AirBNB).  We stayed in Covent Garden and the...

[GXA]

I would definitely prefer not being identified as an MD by license plate. I can see it now - my teen involved in a low speed fender bender, and when th...

[GXA]

1. Yes - 18.5 in the 401/403 + another 18.5 in the 457. 2. I have never had a financial advisor, though I am sure some are better off using an advisor....

[GXA]

WSJ and NPR provides a nice balance.

[GXA]

This is fascinating. I also cannot think of anyone locally who has completely retired early. Our plan was to work until about 50 (which is when all...

[GXA]

The 165,000-315,000 tax bracket for MFJ is 24%. The 315,000-400,000 tax bracket for MFJ is 32%. If you remain in the 32% marginal tax rate, I think I w...

[GXA]

I was sent home once as a resident 18 years ago.

No sick days since then.  I would really have to be fairly ill to miss a day.

[GXA]

  Unless you are considering going to a very inexpensive used vehicle, keep it and enjoy driving it!  As already mentioned, you have already paid for th...

[GXA]

We have over 5,000 sq ft on 0.75 an acre.  Small bedrooms and large common spaces are nice with three teens and their friends around.  We enjoy the...

[GXA]

Anne wrote: BladeRunner wrote: Creating a position of “Chief of Wellness” is nonsensical to me. I am truly baffled at some of the misguided policies that we have today put ...

[GXA]

I am about 15 years post-residency and do not think I am burned out. Working in lower volume Emergency Departments has allowed me to spend more time w...

[GXA]

I applied 23 years ago and was rather clueless. I was a liberal arts major and none of my friends were applying to med school.  I flipped through an ...

[GXA]

Sorry - I was thinking total tax (line 63 on form 1040) divided by total income (line 22 on form 1040). But those of you with a better understanding of the tax ...

[GXA]

Does not affect the vehicles we drive nor our driving habits.  I kept track of our expenses last year and we spent just north of $4000 on gas in 201...

[GXA]

  I inadvertently created confusion with the last effective tax rate thread and would vote for my original 2017 effective tax rate thread to be perma...

[GXA]

Dicast wrote: No sure how helpful this is without other numbers. Where we live keeping your house small makes a big difference. We’re not in the smallest. We pay 12k a ye...

[GXA]

Our vicious yellow lab would lick the intruders into submission.

[GXA]

I do not see a thread on this yet, and the due date is quickly approaching.  My effective rate is: Federal: 27% (total tax/AGI) State/Local: 5% Pro...

[GXA]

I believe the current Costco Visa has no foreign transaction fees. With regards to the original post, we do keep about $1000 in our safe at home....

[GXA]

The charge seems reasonable for the ED visit and services provided - however they are very high.  Emergency Department visits are generally associated...

[GXA]

A resignation from the medical staff while under investigation is reportable.  I do not know if the government has different rules, or whether a formal investigation...

[GXA]

Salaried physicians in our area are making are fair amount more than you (80-100k) plus benefits as well.  IC physicians earn even more and pay for their...

[GXA]

I completely agree the pie may have to shrink though I wonder how many would head for the exits if threatened with a 10% or 20% pay cut?  I realize the...

[GXA]

The chair is well compensated, though the others do not seem too out of line.  Below is the median EM comp/RVU/$ per RVU from the 2015 MGMA survey. ...

[GXA]

I do have land I have sold to a developer and also own rentals and a share of a commercial building, but have never tried to develop on my own. You ...

[GXA]

 

Most emergency physicians I know retire by 60.  I agree, retiring before 50 would be considered early by hospital/physician standards.

[GXA]

  Too many of us for too long work a 1.2 or 1.4 FTE type schedule (myself included over the last 15 years).  The first step is to just cut out the...

[GXA]

Agree - great with kids with plenty of room for your stuff.  We sold ours after nearly 200,000 miles and went to an SUV, though still miss our minivan...

[GXA]

I am with Zaphod on this.  Most on this forum have a stable income and with rates still near historical lows, holding a mortgage is a good idea.  Although...

[GXA]

Probably wash about once a month.  Perhaps a little more often in the winter with road salt, and a little less in the summer.  I also find some odd...

[GXA]

The majority of our friends are not physicians and I am certain there is a broad range of incomes (though most likely less than a physician income).  I...

[GXA]

Although you may be correct regarding salaries in the long term, I disagree in the short to medium term. Over the last 15 years our pay in Emergency M...

[GXA]

I agree with Johanna, unless you were considering a side business anyway.  If so, your plan to roll over to a self-employed 401k is a good one.

[GXA]

I am an Emergency Physician as part of a large multi-specialty group.  We are in constant recruitment mode and we do celebrate when individuals make...

[GXA]

We have had a few ED physicians in our group go back to do a one or two year fellowship a decade following residency.  I went back and got an MBA a decade...

[GXA]

Agree retrospective review based on final diagnosis is completely inappropriate!  Managed medicaid organizations in our state have been doing this for...

[GXA]

At our shop we would prorate pay directly proportional for FTE status.  CME and malpractice expense would prorate lower offsetting the higher group...

[GXA]

I spent my summer between MS1 and MS2 (20 years ago) delivering pizza and umpiring little league baseball games. With strong grades, step1/2 scores, rot...

[GXA]

We had a small windfall after selling a home we purchased at an auction.  I used that as a down payment on a piece of farmland just outside of town. ...

[GXA]

If one of you were to go part time, the kids and home could be better attended to, and your household could still make hay.  We shouldn't underestimate...

[GXA]

Congratulations!!!  Excited to hear about your post-retirement adventures!

[GXA]

leaf-fan - I am getting in at about 11AM on 3/1 and have a small rental car reserved if you two need a ride to Park City.  I am flying out at 10:15 on...

[GXA]

26,000 a month (plus income taxes) However when we exclude stuff we hope to not have to worry about after retirement - retirement savings, primary mor...

[GXA]

Closed our CSR card and now just have Fidelity 2% cash back and a Costco Citi visa (3% back for travel and 4% back for gas). There is something to be said ...

[GXA]

Field: EM Years in practice: 15 years Best part of job: The schedule.  Being able to take some time off most months.  Easily being able to cut back to...

[GXA]

The two youngest people in our group (both in their 30s) have cut back to part-time, and one of our older members in his mid 50s will cut back to part-time...

[GXA]

The only life and disability policies I have are the relatively small ones provided by my insurer.  I typically cancel the collision on our cars once...

[GXA]

As a part of a fairly small ED group, calling in sick places a large burden on the group or an individual. One of our partners missed a few weeks after...

[GXA]

We are also in arrears, however I do not believe the actual assessment occurs for the year prior until Feb or March (so 2017 assessment occurs in Feb...

[GXA]

You can enter your information into 2017 turbotax, or an online calculator to see if you are subject to the AMT.  or, if your situation is similar to...

[GXA]

Oops - I meant living well within your means... (I would hope everyone on this site would have caught that)?

[GXA]

We focused on investing and took 3-5 years to payoff debt (though this was 15 years ago and our total loan burden was 60-70k). Given the exponential...

[GXA]

I have also always pronounced VANguard - though cannot confirm this is correct.

[GXA]

It depends - are you subject to the amt? (Or were you last year?) if you are not subject to the amt, and itemize on schedule A, I would prepay if your loc...

[GXA]

Ahh.  I agree.  I would not prepay any income tax given that the legislation being voted upon specifically prohibits income tax prepayment being deductible...

[GXA]

Hmmm.  My plan was to prepay my property taxes for 2018, and then claim the property tax payment on schedule A as an itemized deduction for 2017. I...

[GXA]

When we last purchased a few years ago, we ended up with an Acura MDX.  It drives well, and we have had no issues over the last few years. The new ...

[GXA]

Yes - my understanding is that property taxes can be prepaid. I earn too much to be hit by the AMT, and given the balance on my mortgage and prefund...

[GXA]

Interesting question - The 32% marginal bracket is at an income of $315,000-$400,000.  The 24% rate is $165,000-$315,000. Although my first inclination...

[GXA]

What is the interest rate, and how long are you planning on staying there?  If you rate is low/competitive, and you plan on staying there for a while,...