Triple Net Lease

[WorkforFIRE]

I heard some locker room talk in the physician lounge about triple net lease.

what is everyone thought on this? Why don’t people do this...

[WorkforFIRE]

For those of you who are already retired, what is your breakdown bonds to stocks? I’ve seen 50/50, 60/40, 40/60, 70/30....

[WorkforFIRE]

Not sure why everyone isn’t frozen. It’s so easy. and un freeze is instant. I had lender check credit but couldn’t bc it was frozen. I un froze...

[WorkforFIRE]

don’t sweat it. Enjoy the house. House is only worth what someone willing to pay for it. Who cares what Zillow or Redfin says.
If it makes you...

[WorkforFIRE]

Asian household. Absolutely no shoes in the house....

[WorkforFIRE]

wow. We lost a good one...

[WorkforFIRE]

Agree with the above. You can’t do MBDR.
And spirit rider is basically a tax expert. Has carried many of us through some complex tax issues. And...

[WorkforFIRE]

Tough spot. I can understand the predicament. Sounds like y’all have a great savings rate. It’s not easy saving 500k cash.

lots of great...

[WorkforFIRE]

this is exactly what my wife and I think. Depend on the kid.
I grew up public. Wife private. I was alway against private. Now I’m open to it...

[WorkforFIRE]

Are you in desirable part of the country? $35 seems very low.
and if you’re under 600-700k as busy ortho in PP, you are underpaid....

[WorkforFIRE]

No. Let her see your paystubs enter the checking account. Y’all are a team.
why does it matter if her stubs are small when it hits the checking...

[WorkforFIRE]

You can clearly afford it. Great income. Minimal debt. And it’s primary home. I wouldn’t worry too much about housing bubble. If you need it and it’s...

[WorkforFIRE]

Need more info. Household income. Current debt.
resident? Attending? How long practicing?...

[WorkforFIRE]

MD/DO PCPs have so much value to me. It’s a great opportunity for MD to start concierge practice. This will create a new tier and hopefully a profitable...

[WorkforFIRE]

I’m heavy in VTI. and usually it follows VOO closely.
but it’s so much lower than VOO
look at the past year, it’s only up 1% whereas...

[WorkforFIRE]

Couldn’t agree more....

[WorkforFIRE]

Tbh, it caught me off guard. It had never crossed my mind. I asked her why…accountant suggested that I could write off all payroll expenses…
...

[WorkforFIRE]

Ok that’s what I thought. It was actually an accountant who suggested that, and it seemed like a stretch to me.
I follow the book on everything,...

[WorkforFIRE]

Hi,
we are planning on getting a full time nanny in a few months when our baby is ~3 months old. We are expecting soon!

we would like...

[WorkforFIRE]

~10%...

[WorkforFIRE]

“I have a high pain tolerance”

“ I heard of a medication, hydro something or di-loft-did?”...

[WorkforFIRE]

Live like resident for 5 years. Pay off student loan debt. Save for fat down payment.
There is no rush. Wait. And block out the noise

[WorkforFIRE]

You have ~1.1 million in debt on a 500k salary, which is prob 325-350k take home.

If it were me, I’d be living like a resident for the...

[WorkforFIRE]

1.5-2 million?? Wth...

[WorkforFIRE]

Let’s take a step back.
have you considers FaceTime or zoom call? Then maybe group zoom call? Get a better idea if this is a 45 year man or an...

[WorkforFIRE]

This is all so sad. Life is truly ephemeral.
we lost renowned physician in my large metropolitan city last week. He died suddenly. Young guy. ...

[WorkforFIRE]

this is exactly right. You are an expert providing your opinion regardless of which side is asking you to review the case. Don’t forget that....

[WorkforFIRE]

Appreciate all the help y’all. We’ll sit down today and discuss. Ill leave the decisions for him to make....

[WorkforFIRE]

i do. But I’m the only one involved with day to day stuff....

[WorkforFIRE]

thanks. I was leaning towards a 50 stock and 50 bond split for him.
he had most of his money in growth funds and fixed income funds and random...

[WorkforFIRE]

Hey everyone,

Need some help with how to manage my dad’s retirement account. I didn’t know about this until today
He has about...

[WorkforFIRE]

Like everyone said, it’s a personal decision. Financially, it sounds like for you that it won’t matter. You are mid-30s with already 7 digit saving....

[WorkforFIRE]

Anesthesia...

[WorkforFIRE]

makes sense. Then, I’d strongly recommend putting 10% down to get the rate lower and have some equity in the place.

living in the city...

[WorkforFIRE]

I’m not following why you want this house in the first place. 650k with no money down and 3.25% is about 3k per month on mortgage. That doesn’t include...

[WorkforFIRE]

You are starting a new job. Too many unknowns. Rent....

[WorkforFIRE]

Rent.
And rent a luxury apartment that’s owned from corporate company. You won’t have much problems with crappy landlords if that’s one of...

[WorkforFIRE]

Emerson. This quote. Mic drop. Thanks for sharing this quote...

[WorkforFIRE]

Sit down with wife and discuss why she is unhappy. If it is truly because of work, then quit, go part-time, and/or find new job.
Review financial...

[WorkforFIRE]

Couldn’t agree more....

[WorkforFIRE]

Wait a minute. OP does not have income over 400k…he is still in training and hopes this works out. How did I miss this? Haha.
this makes the...

[WorkforFIRE]

its’s more than number, my friend. And it’s not ridiculous to share our opinions. I think it’s not a smart financial move as stated previously....

[WorkforFIRE]

Wait. What?? He’s a dermatologist that specialized I’m Mohs surgery. Those guys bank. What the heck. I wonder why he would do this...

[WorkforFIRE]

I agree with most people on here. It is a bad idea to get a house now. I don’t need to restate all the previous reasons. But in summary, it would be...

[WorkforFIRE]

i think people listen. I posted a question for advice years ago and it changed what I did. And thank goodness. I’m am in such a better financial spot...

[WorkforFIRE]

this is spot on. Keep it simple. taxables. You’ve done so much right thus far, why fix what isn’t broken.

I’m in the same boat as...

[WorkforFIRE]

How old are you? Are you just starting your career?

if so, why bonds? Why not all equities as you start off…

[WorkforFIRE]

this is incredible. Thanks for keeping this updated....

[WorkforFIRE]

Same...

[WorkforFIRE]

This is so true.
the beauty of this forum is there is so much to learn from everyone....

[WorkforFIRE]

may have to wait a few days for the funds to settle.
same thing with me every year. I initiate the transfer on 1/1 and don’t do the conversion...

[WorkforFIRE]

it sounds like if you use it as a e-fund, it will/should be higher than your HYSA cash account. I’m using this as a E-fund, not as my bond allocation....

[WorkforFIRE]

How are people up so many multiple of annual earnings??
I thought we did well in 2021, but wow...

[WorkforFIRE]

so did it go through on 12/31?...

[WorkforFIRE]

Friday, 12/31 was a regular business day. So if you bought 12/30, then it should have gone through 12/31.
I bought my wife’s on 12/30, I forget...

[WorkforFIRE]

This is how I view them...

[WorkforFIRE]

Haha. Wow. This is crazy. Further support to not time the market…...

[WorkforFIRE]

People on this forum are a rare breed. Most people I know don’t do back door Roth. I’m constantly told that 6k is “too little” money and won’t...

[WorkforFIRE]

I also weigh around 155-160, and need to be closer to 140-145.
I’ve cut out alcohol. I feel better and more productive. Lots of veggies/fruits...

[WorkforFIRE]

As we start 2022, here is a link to instructions for backdoor roth that I’ve found very helpful

https://www.physicianonfire.com/backdoo...

[WorkforFIRE]

Major congrats to you. And even more amazing that you actually did it. Sometimes we can get caught in the rat race and forget to stop and think about...

[WorkforFIRE]

Haha. The website is so trash.
I just bought 20k (me and wife) last night. Will buy another 20k at the end of Jan for 2022.

I’m...

[WorkforFIRE]

Amazing. Strong work! Time to turn positive now!...

[WorkforFIRE]

It says there is a penalty if you sell I bond within 5 years. The penalty being that you lose last 3 months of interest, which is so little that it doesn’t...

[WorkforFIRE]

Amazon is typically more expensive. They provide “free shipping” but they pass the cost on to the customer and then claim free shipping.
Example,...

[WorkforFIRE]

Lots of good advice on here.
You are 2 physician household. Paying off 480k is not going to make or break you in terms of your long term financial...

[WorkforFIRE]

it sounds like you could go either way in considering I bond as an emergency fund.

I don’t understand why more people don’t do it based...

[WorkforFIRE]

Hmm. Ok that makes more sense.

but why on the treasury I-bond website it shows the rate being between 7-10% since 1998.
here is the...

[WorkforFIRE]

This wouldn’t matter much for I-bonds as the composite rate is calculated based on fixed rate and inflation rate.
the composite rate until April...

[WorkforFIRE]

Thanks! I read this last night, which made me think more about why don't people do this!...

[WorkforFIRE]

How is putting it in I-bond risky?
And it is very available. Once you want to cash, you get the money within 2 business days....

[WorkforFIRE]

Hi Everyone,

Can someone help me understand what the downside of building your e-fund to eventually all be within I-Bonds?
- you...

[WorkforFIRE]

Ok, so you’re in your first year as an attending. I would pump the breaks on buying a house. Since you live in a rural area, land must be cheap. Have...

[WorkforFIRE]

Welcome to the forum.
1) max 403b
2) max HSA - triple tax saving
3) backdoor roth (2022 pending on BBB)
4) pay off student...

[WorkforFIRE]

you increased your net worth by 2.5-3million in one year??
how is anyone not talking about this more?

very impressive. Great work....

[WorkforFIRE]

Tim I agree. I won’t support a career or degree for fun. I will support anything if their intention and goal is to be the best, and they work hard to...

[WorkforFIRE]

Yep. You’re right. I totally agree. With a baby on the way, I thought this could be the one time I could do it bc if it didn’t drop by the time baby...

[WorkforFIRE]

Ok, thanks for your help. It sounds like I could complicate this in a bad way. If I put 160k into a 529 (80k each since it’s increasing in 2022), it...

[WorkforFIRE]

spiritrider thanks for your post.
isn’t a rollover different than a transfer? see link:
https://thecollegeinvestor.com/35111/529-plan-r...

[WorkforFIRE]

jfoxcpacfp thanks for your post.
I am planning on superfunding (150k; 75k each spouse) when the baby is born in April.
if the market gets...

[WorkforFIRE]

Congrats. That’s incredible. 5 million and still in your 30s. Can you share your story and what you did?...

[WorkforFIRE]

Do we have an update for 2022?? It looks like they added the law back to block backdoor roth.

I’m a little confused since it’s been...

[WorkforFIRE]

Thanks all. I’m not apprehensive about it. I just wanted to make sure I wasn’t missing something. Seems like a no-brainer to me.

I’ll...

[WorkforFIRE]

Buy it. And enjoy it. You can afford. You are clearly financially smart. Make sure you have enough term life insurance in case you and/or spouse pass...

[WorkforFIRE]

I’m planning on opening a 529 whenever our baby is born. I plan to use Vanguard. I live in a state that does not give any tax benefits for funding a...

[WorkforFIRE]

spiritrider thanks so much. Yes, you’re right. I did it last year and it was fairly easy. I’m prob unnecessarily worried that I may screw it up at...

[WorkforFIRE]

spiritrider. Thanks!

if I were to do what I mentioned though, would that be okay? Transfer to tIRA?

[WorkforFIRE]

Hi everyone,

I really don’t like filing the EZ 5500 because I’m worried about making a mistake and getting stuck with a big fine. If...

[WorkforFIRE]

I would keep a healthy e-fund (12 month expenses) and then use the rest to pay off as much of student loans as possible.
Live like a resident for...

[WorkforFIRE]

You seem like a good saver and have the right mindset of living like a resident. I was in a similar position. My suggestion is to stretch the living like...

[WorkforFIRE]

Looks like mega backdoor Roth is ending starting 2022. Any thoughts on this?

Even regular backdoor Roth will be ending. What a shame....

[WorkforFIRE]

I have the iPhone 8 right now. I’m planning to get the new iPhone 13, mostly because my battery sucks and the new iOS drains my battery. Also, the new...

[WorkforFIRE]

I think you missed the joke.

Just follow the vtsax and chill mantra....

[WorkforFIRE]

this is the key to success. Sell right before it crashes and then invest at the very bottom.
If you do this, you will reach FIRE quickly.
...

[WorkforFIRE]

VTSAX and chill.
amazing work to get to ~2 mil by age 36/37...

[WorkforFIRE]

Welcome. You’re doing great. Excellent work to where you are now.

your interest rates are low for student loans, but I’d suggest paying...

[WorkforFIRE]

Amazing. Congrats. The feeling of seeing the account balance read $0 is the best. Y’all shouldn’t forget to celebrate...

[WorkforFIRE]

I know more people who have left Usap than people who stayed there. I know only person who stays at USAP out of choice, 10+ others stay because they have...

[WorkforFIRE]

Refinance your student loans. 5.63% is high. max wife 403B. Then put everything else in student loans to pay those off ASAP.
You have solid household...

[WorkforFIRE]

Yep. I agree with you on that....