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  • Female physician sub-forum

    I have been asked by a couple of frequent posters to start and moderate a category aimed at female physicians. I am putting this post out there to the community to see what the level of interest would be. It can be hard to tell by the "names" who is female.  I personally have no issues if males want to comment as well. Also if you might list what topics you are interested in as well it would be useful.

  • #2
    +1 for a sub-forum

    Agree that anyone can post

    Topics I would be interested in:

    -financial issues around taking maternity leave- how to prepare for it, etc. Does disability kick in if you end going on bedrest for > 1 month, things like that

    -Childcare stuff, tips for saving money etc

    -I am sure there a lot of female MDs here that are the breadwinners, or may even have a stay at home dad, would love to hear about those situations and any issues that can arise

    -If the female MD is the breadwinner by a lot - how does one protect herself from divorce? Will we be responsible for alimony?

     

    I know these are pretty specific questions (some are from my other female MD friends), but I have thought about them so maybe someone else has too.

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    • #3
      I don't mind doing this, but I'd like to see at least a little more interest before doing so. Let's say if we can get 5 women posting in this thread saying they'll work hard to respond to any threads posted in a "Women's Issues" or "Women Only" forum I'll make it a separate subforum.
      Helping those who wear the white coat get a fair shake on Wall Street since 2011

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      • #4
        i think that is reasonable.

        Comment


        • #5




          I don’t mind doing this, but I’d like to see at least a little more interest before doing so. Let’s say if we can get 5 women posting in this thread saying they’ll work hard to respond to any threads posted in a “Women’s Issues” or “Women Only” forum I’ll make it a separate subforum.
          Click to expand...


          Is there any plans to do a new sub-forum on topics of "Contracts/Job Search, Billing, Practice Management?" There was a bit of interest on this subject "Suggestions for Forum Improvement" thread, but one never materialized. There's also quite a bit of threads scattered throughout the different topics that would be appropriate for this sub-forum, and it would be helpful to put them into one place.

           

          Though I am female, I wouldn't be that interested in an additional forum for "women's issues" only.

          Comment


          • #6
            I'd be interested in a female sub-forum (even though I'm mainly a lurker).

            Tangentially- today I met with the HR rep for my new job and she recommended I use the company's financial advisor unless I had "a husband or father or family member who's good with financial stuff".  :roll: I had fun asking her about the details of my 401k vesting schedule and the fees associated with the self-directed brokerage account a few minutes later.

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            • #7
              I would also be interested.  If you are also on Facebook there is a Physician Mom's Group as well (along with some specialty specific groups) that I've found helpful.

              I am the breadwinner.  I have a stay-at-home-husband (Civil Engineer and getting his Masters in Accounting) and three little kids (4,2,1). I'd be interested in hearing how other people balance this as well.  (I'm EM, also a Medical Director for a flight program)

              I am currently working on paying off my student loans (and all the sacrifices and extra hours that go into that - limited spending, driving a crappy car, limited vacations, etc).

              I am really interested in learning where I go after the debt is gone.  I'm very new to money/investing/planning. How do I invest ~$60,000 per year?  How do I get to financial independence where I can work because I WANT to and not because I literally HAVE to.  One thing I really worry about is when I get to start enjoying some of this hard work - putting $$ away until I'm 59.5 is all good for retirement, but every day I'm reminded of people who don't make it to that glorious retirement age and I want to make sure my family and I enjoy some of this before then.  Do people just have mutual funds for "Vacation" or "Charity" or other things like that?  Or do you just keep those in a savings account?

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              • #8
                I would definitely be involved and interested.
                Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

                Comment


                • #9
                  Since I am an OB/GYN (just GYN now) I have dealt with lots of maternity leave issues over the years.  To answer the question really depends on your job situation.  If you work for a University or some other academic institution, hospital, corporation, or large private practice you should have a HR department that will tell you exactly how much leave you can have. You can use FMLA (family medical leave act) during the pregnancy or afterwards to extend your time with the baby.  If you are using FMLA your job is secure but you will not be paid (your benefits continue ie health insurance).  Problems arise when you are self-employed in a small group or a physician employee of a small group.  If you are the first one in the group to get pregnant expect animosity when you try to negotiate your time off.  The older docs will want you to come back to work ASAP because they will be taking more call.  They may not want to pay you.  Ideally you have discussed this prior to the positive pregnancy test. Some people have specific short term disability policies that I have seen used for extended bedrest etc (AFLAC).  I have not known of anyone using a physician disability policy for a pregnancy complication.  If you are the primary breadwinner then you will probably feel pressured to get back to work quickly especially the self employed doc.  My college roommate was back trying cases within a week of delivering her third child because she was the only breadwinner. One of the obs at my hospital was back doing scheduled Csections within 3 weeks of having one. I have had lawyer patients and female docs who seemed to be very career oriented decide to quit work after delivery.  It is hard to know and plan.

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                  • #10
                    Done!
                    Helping those who wear the white coat get a fair shake on Wall Street since 2011

                    Comment


                    • #11




                      Since I am an OB/GYN (just GYN now) I have dealt with lots of maternity leave issues over the years.  To answer the question really depends on your job situation.  If you work for a University or some other academic institution, hospital, corporation, or large private practice you should have a HR department that will tell you exactly how much leave you can have. You can use FMLA (family medical leave act) during the pregnancy or afterwards to extend your time with the baby.  If you are using FMLA your job is secure but you will not be paid (your benefits continue ie health insurance).  Problems arise when you are self-employed in a small group or a physician employee of a small group.  If you are the first one in the group to get pregnant expect animosity when you try to negotiate your time off.  The older docs will want you to come back to work ASAP because they will be taking more call.  They may not want to pay you.  Ideally you have discussed this prior to the positive pregnancy test. Some people have specific short term disability policies that I have seen used for extended bedrest etc (AFLAC).  I have not known of anyone using a physician disability policy for a pregnancy complication.  If you are the primary breadwinner then you will probably feel pressured to get back to work quickly especially the self employed doc.  My college roommate was back trying cases within a week of delivering her third child because she was the only breadwinner. One of the obs at my hospital was back doing scheduled Csections within 3 weeks of having one. I have had lawyer patients and female docs who seemed to be very career oriented decide to quit work after delivery.  It is hard to know and plan.
                      Click to expand...


                      You should also be aware that FMLA does not apply to employers with less than 50 employees, so if you're working for a small group. I think this was what hatton1 was saying but just wanted to clarify.


                      If the female MD is the breadwinner by a lot – how does one protect herself from divorce? Will we be responsible for alimony?
                      Click to expand...


                      Yes, almost certainly along with child support unless you get sole custody, which is unlikely if you work FT and have a SAH spouse. You can protect yourself with a pre- or post-nuptial but, in reality, that rarely happens. Divorce is a bigger threat to your financial security than malpractice.
                      Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

                      Comment


                      • #12
                        Yes I am aware of two female docs that had to pay some amount of alimony to stay at home dads when divorcing.  If you want to protect yourself from divorce you could not get married, get a prenup, do not raise your new spouse's lifestyle up to physician level, and do not encourage the spouse to not work.  I have not been through a divorce so are just my thoughts about it.

                        Comment


                        • #13




                          I would also be interested.  If you are also on Facebook there is a Physician Mom’s Group as well (along with some specialty specific groups) that I’ve found helpful.

                          I am the breadwinner.  I have a stay-at-home-husband (Civil Engineer and getting his Masters in Accounting) and three little kids (4,2,1). I’d be interested in hearing how other people balance this as well.  (I’m EM, also a Medical Director for a flight program)

                          I am currently working on paying off my student loans (and all the sacrifices and extra hours that go into that – limited spending, driving a crappy car, limited vacations, etc).

                          I am really interested in learning where I go after the debt is gone.  I’m very new to money/investing/planning. How do I invest ~$60,000 per year?  How do I get to financial independence where I can work because I WANT to and not because I literally HAVE to.  One thing I really worry about is when I get to start enjoying some of this hard work – putting $$ away until I’m 59.5 is all good for retirement, but every day I’m reminded of people who don’t make it to that glorious retirement age and I want to make sure my family and I enjoy some of this before then.  Do people just have mutual funds for “Vacation” or “Charity” or other things like that?  Or do you just keep those in a savings account?
                          Click to expand...


                          EDDOCMOM it sounds like you are fairly young.  You are on the right track to be living like a resident and paying off your loans.  I don't have enough details to tell you exactly what to do with 60k/year. I assume you are maxing out your retirement plan. If you are in your 30s you want 90-100% in a broad index equity fund like Vanguard Total Stock.  To reach financial independence you just have to put one foot forward and invest the money.  Life will always be filled with competing uses for the money. Yes people save money for vacations in a short term money fund or savings account.

                          Comment


                          • #14




                            I would also be interested.  If you are also on Facebook there is a Physician Mom’s Group as well (along with some specialty specific groups) that I’ve found helpful.

                            I am the breadwinner.  I have a stay-at-home-husband (Civil Engineer and getting his Masters in Accounting) and three little kids (4,2,1). I’d be interested in hearing how other people balance this as well.  (I’m EM, also a Medical Director for a flight program)

                            I am currently working on paying off my student loans (and all the sacrifices and extra hours that go into that – limited spending, driving a crappy car, limited vacations, etc).

                            I am really interested in learning where I go after the debt is gone.  I’m very new to money/investing/planning. How do I invest ~$60,000 per year?  How do I get to financial independence where I can work because I WANT to and not because I literally HAVE to.  One thing I really worry about is when I get to start enjoying some of this hard work – putting $$ away until I’m 59.5 is all good for retirement, but every day I’m reminded of people who don’t make it to that glorious retirement age and I want to make sure my family and I enjoy some of this before then.  Do people just have mutual funds for “Vacation” or “Charity” or other things like that?  Or do you just keep those in a savings account?
                            Click to expand...


                            The One Page Financial Plan by Carl Richards is a really good place to start. Easy to digest, short, and logical. Consider working with a fee-only CFP if you are not comfortable with DIY, but the book will put you far ahead of where most people are. Good luck - sounds as if you are going in the right direction!
                            Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

                            Comment


                            • #15




                              Yes I am aware of two female docs that had to pay some amount of alimony to stay at home dads when divorcing.  If you want to protect yourself from divorce you could not get married, get a prenup, do not raise your new spouse’s lifestyle up to physician level, and do not encourage the spouse to not work.  I have not been through a divorce so are just my thoughts about it.
                              Click to expand...


                              I figured as much. My friend (not married yet) is seriously dating/will be engaged soon to someone who makes significantly less than her (won't be a SAH dad though), like 1/8th of her income. She is planning on buying a house for them in her name, but I think that doesn't necessarily protect the asset if they get married. Anyway, she obviously will need to do research to protect herself as much as possible. And obviously she doesn't plan on getting divorced but you just never know what will happen!

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