Millennial Money med student budget living in NYC

[Turf Doc]

So conceptually, can I think of those percentages as kind of like an extra expense ratio? If so, that’s not so bad, and certainly not worth changing...

[Turf Doc]

By tax efficient i only meant something like VTI, which i believe is pretty tax efficient as a fund in general...

[Turf Doc]

Are tax efficient index funds really that bad, even in a taxable account? i guess i never did the math to see what the tax protection does for growth...

[Turf Doc]

Have you heard about bob the market timer?

https://awealthofcommonsense.com/201...-market-timer/...

[Turf Doc]

i don't necessarily have an opinion one way or the other on returns, but i totally agree that if you expect higher growth and even continued higher returns...

[Turf Doc]

But it's also completely possible long-term returns will be even better than in the past, and as a result the whole ~11% return of the US stock market...

[Turf Doc]

I have never understood how someone can decide that a market is or is not "inflated". Why should we assume that there's some "reasonable"...

[Turf Doc]

As warren buffet/jim like to say, no called strikes in investing....

i also find merriman very persuading, but i think the problem with SCV...

[Turf Doc]

Do your older colleagues ever talk about the "good old days"? That might be some interesting anecdotal evidence. I know older radiologists always...

[Turf Doc]

Whatever you do, just make sure you actually invest the difference. If you could refinance to something like <3% I think I’d want to just invest...

[Turf Doc]

I'll assume the poster is being truthful since its more fun that way.

They can obviously afford the car. Just the fact that they only have...

[Turf Doc]

does that mean putin just does whatever he wants since he has nukes? finland?...

[Turf Doc]

Ralph Nader and seatbelts…...

[Turf Doc]

Why stay away from auntminnie? Theres like 2 whole people who dont hate their lives!...

[Turf Doc]

The worst part of your portfolio is that you don't want to stick with it. Imo that means you had the wrong portfolio. Given its already gone down a lot,...

[Turf Doc]

Does your EM group decide how they function? or the hospital? For instance, assuming they're working, when does a patient see a physician vs. midlevel...

[Turf Doc]

If midlevels were not working up undifferentiated patients, and patients didn't seem to be randomly assigned to a midlevel vs. physician, I wouldn't be...

[Turf Doc]

Would also be helpful for premeds to understand opportunity cost. You could show them how a career that comes with high debt and backlogged high pay is...

[Turf Doc]

I think it takes a long time for people to realize that things aren't like they used to be. Everyone thinks doctors are rich, and back in the day you...

[Turf Doc]

Sometimes people post the numbers they're quoted in return for supervising and they're so low I don't understand why anyone would even entertain them.......

[Turf Doc]

You gotta love that the bar is so low for NP education that going to a "brick and mortar" program is a bragging point...

[Turf Doc]

At enough spending it definitely does, but i think its hard to say what inflation would or wouldn't be given certain spending without a crystal ball....

[Turf Doc]

I think he's referring to lifestyle like work-life balance, not from a money perspective...

[Turf Doc]

You should at least be happy that you're targeting a LCOL/MCOL. In my already HCOL area, houses seem to be selling for 50% more than they were a few years...

[Turf Doc]

Yes FICA, but people are really arguing that FICA taxes will increase to specifically offset the part of the deficit that would come from cancelling some...

[Turf Doc]

My only real point is that I simply disagree that "spending" x amount of money, whether it be through loan forgiveness or actual spending, necessarily...

[Turf Doc]

250 and then youre done for a while right?

I'll admit that ibonds only became interesting because of the crazy interest rates now, but whats...

[Turf Doc]

If there were no limits per year how much in ibonds would you buy?...

[Turf Doc]

How much in taxes do you think the grocery store clerk pays, and how many kids go to Harvard? You're saying that any increase in federal spending has...

[Turf Doc]

Or:

Only 3 years out of fellowship, no student loans, saving 30% and plans for a full career. Sounds good to me.

Being 38 with...

[Turf Doc]

What seems truly inflationary to me is people being able to spend money they literally dont have through credit cards, carrying a balance, etc. This is...

[Turf Doc]

Totally agree. I mean people should be used to it from college when basically every professor has a doctorate, and i called them all Dr. and didn't think...

[Turf Doc]

I love how with one side of their mouth they say theres no problem being called "doctor" because no one owns the word "doctor" and...

[Turf Doc]

Thanks, i must've been thinking of just how they were left out with stuff pre-waiver. it's amazing how complicated this all is. if you do a direct consolidation...

[Turf Doc]

I have always been confused about liability with midlevels. I hear people concerned about liability for things they do themselves, which is reasonable,...

[Turf Doc]

Am I correct in understanding that anyone with FFEL-P loans is basically screwed out of everything?

[Turf Doc]

Plus you can come up with reasons the sky is falling in basically every field. And in the ones where it's not falling, people generally dont feel like...

[Turf Doc]

I'd imagine you could get some good recommendations on bogleheads. Do you feel like you need a FA who specifically works for veterinarians or just someone...

[Turf Doc]

Yep, im real interested in rads. I'd imagine derm is "better" in regards to those factors but it seems less interesting to me + i dont want...

[Turf Doc]

If you care about lifestyle and money, derm seems like a pretty solid choice. This whole thread was weirdly critical of her imo...

[Turf Doc]

When did you decide to go for derm?...

[Turf Doc]

10k means-tested for only undergrad loans via stroke of pen seems to be the most likely outcome, if anything is done at all.

[Turf Doc]

The problem is all the debt people take out to get a degree. If you wipe it, not a problem for now, but if nothing changes all the debt will probably...

[Turf Doc]

I think a minority of undergrads taking out 70k/yr would ever be able to pay it back... not just the genders studies majors, and i question how common...

[Turf Doc]

I agree that I would want to see some sort of sustainable policy change going forward since the problem would just creep up again. Technically though,...

[Turf Doc]

Whats scary about it? Money is fungible. We spend a ton of money on stuff all the time. I don't really understand why people think that only student loan...

[Turf Doc]

Big yikes

[Turf Doc]

Pharmacy is extremely, extremely saturated nowadays. There's like an 80% acceptance rate now. I wouldn't recommend anyone go into pharmacy, especially...

[Turf Doc]

One recommendation i would have is to not take too many gap years, plan for 1 max. That still means you have to apply your senior year, so def think about...

[Turf Doc]

What's your asset allocation Max Power ?...

[Turf Doc]

As they say...don't confuse outcome with strategy. It would have been basically stupid for you to have not refinanced back then. I'd still be shocked...

[Turf Doc]

Yeah i havent really understood this either. If you pay more in a downpayment all you're doing is guaranteeing that amount in interest rate as a guaranteed...

[Turf Doc]

When you say realistic do you mean the number they actually "need" to retire? He mentioned it somewhere there but 150k is just the mortgage....

[Turf Doc]

I’m not saying it’s good policy, it’s just the reality. I’m saying that the cost to the student went down if they’re having enough written off...

[Turf Doc]

Everyone should consider that some amount of the outstanding 2T student debt is going to be forgiven regardless of what we do. Anyone in PSLF, or even...

[Turf Doc]

I’m still not seeing how a couple thousand more per year, adjustments for inflation, housing stipends, etc mean residents no longer work hard and/or...

[Turf Doc]

Sorry I shouldve been more precise here. Just because each resident has x allocated to their name doesnt mean the residents salary cant increase...

[Turf Doc]

These comments almost read like April Fools.

a ton of residencies are already unionized. Do they not work hard?

just because...

[Turf Doc]

Right. But my question is if these PE firms are expected to outperform an index over a sufficiently long time horizon. Don't we all invest in index funds...

[Turf Doc]

Sure, honestly the thing that's almost most annoying to me is, knowing what we know about index funds, who's even benefiting from this crappier PE-backed...

[Turf Doc]

Knowing my classmates, I can easily see why most will probably end up joining some sort of employed arrangement. As we all know medicine selects for a...

[Turf Doc]

I think about this all the time... everyone loves capitalism until it's their lunch that's getting eaten on its behalf!...

[Turf Doc]

I agree you'd rather have 7M than 2M. But i do think its interesting that, imo, in situation, the person who started with 0 and ended up with 5, was more...

[Turf Doc]

i'm just thinking that the delta in lifestyle between having 2M and having nothing is so much higher than the delta between 5M and 7M. For those who believe...

[Turf Doc]

Thought experiment:

Let's say I'm feeling good with my 2 million dollars I worked hard to save up. And your average person's plan for retirement...

[Turf Doc]

Yeah, thats what i mean. I figured there was a natural barrier to residency slots, as in you need enough caseload to have sufficient training and I assumed...

[Turf Doc]

I wonder if some specialties have lower barriers of entry for opening up residencies. I thought that medicine was somewhat protected from extreme oversaturation...

[Turf Doc]

I wonder if people are really that logical though. And even if inflation is nothing, wouldn't you prefer make money investing basically by doing nothing?...

[Turf Doc]

For all the shoes in house people, do you ever think twice when you go to a public restroom and see people's handiwork?

[Turf Doc]

To me it's like, the parent might have a nice car but the kids get a beater. it's just the stage of life they're at. At some level i'm happy I've never...

[Turf Doc]

Maybe pick up a new hobby like this doc?

...

[Turf Doc]

If your kids don’t deserve business why would you put your daughter up there but not your son…I’d be consistent with the both of them, whatever...

[Turf Doc]

There's this weird parabola where if you have so much debt it almost doesnt matter anymore because youre going to have to go for PSLF almost no matter...

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[Turf Doc]

My mind is absolutely blown that people post things online that could be interpreted so poorly, especially in a pseudo-professional setting.
...

[Turf Doc]

Fortunately I haven't, and I'm not commenting on whether its good policy or not, its just interesting because other than those who are the most progressive...

[Turf Doc]

Who would have thought that high-earning professionals with monster student loans would have actually been the largest beneficiaries of COVID-era sti...

[Turf Doc]

i didn't think that the political aspect wouldve stopped them from resuming payments before, but restarting in august? I really doubt it. I can maybe...

[Turf Doc]

Biden expected to extend to Aug 31! Woohoo!

[Turf Doc]

Plus, if you're using the default 4% withdrawal rate, I think it's too conservative. I would bet the type of people who accumulate 25x (or even more),...

[Turf Doc]

It’s funny that people are only just now realizing that they’re so far beyond prepared for retirement that they think the calculator is wrong… lol

[Turf Doc]

I feel like the latter is more likely... plus, as we've seen throughout the pandemic theres really two different worlds out there for workers. Unfortunately...

[Turf Doc]

Now the question is if prices will go down to make up for it. The cynic in me says they won’t…...

[Turf Doc]

I thought that in california hospital systems cannot directly employ physicians. Is it just some other nonprofit that technically employs them?

[Turf Doc]

I went to a public school in commifornia and didnt notice any indoctrination. almost every kid's beliefs reflected their family's beliefs...

[Turf Doc]

I think dermatology is prestigious among med students and those in-the-know, but in general I'd say surgery (especially something like neurosurgery) is...

[Turf Doc]

i find it kind of funny that people went their whole lives without operating, have never operated, but during their 3rd year of med school realize they...

[Turf Doc]

Competitive specialties would be way less competitive. Flattening of salaries would definitely relieve some of the crappiness of the whole process. Of...

[Turf Doc]

i thought rural areas were supposed to be better paying.... did it seem better paying when you were deciding where to practice?...

[Turf Doc]

I've noticed this at my parents place. The type of people who are moving into their neighborhood are very different than the type of people who lived...

[Turf Doc]

Did you feel like they could bully you/admin into changing that policy? Or people agreed that it was inappropriate to call yourself Dr. if youre not a...

[Turf Doc]

I also see people talk about taking these supervisory "gigs" for like 5k/year. how could anyone be that desperate/ignorant??

[Turf Doc]

What's really scary to me is feeling like you have no choice to see a physician even if you want to. At this point whenever my parents go to the "doctor"...

[Turf Doc]

do you regret going into primary care or no? would you go into it today?...

[Turf Doc]

i found your comment "Is that the person you want to be" pretty judgey. and i think its a silly way of judging people, all things considere...

[Turf Doc]

who cares......

[Turf Doc]

He better get rid of those cojones asap if he wants to stay at that esteemed academic institution...

[Turf Doc]

i think its a little different though because dentists don't have to do a residency to practice, its purely optional. Dentists might look at physicians...

[Turf Doc]

Doesn’t imaging reimbursement get cut like all the time?...

[Turf Doc]

The reason i ask is because its an interesting combination of pay/location/lifestyle, and i cant decide if it seems like a good deal or not. on the one...