Menu

Debt Repayment Strategy

Home Personal Finance and Budgeting Debt Repayment Strategy

  • Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 334
    Joined: 06/10/2019
    Splash Refinancing Bonus

    MPMD, Wonka’s comment and the like are why I keep noting my numbers were verified by a moderator here, including the cash reserves and the exact funds owned and their returns. It’s up to each to decide if they want to disrespect the moderator’s authority, and thus the ability to see the possibilities for those who haven’t gotten to where they want to.

    I specifically mentioned this post was not even about market investment.

    Click to expand…

    This is the farthest thing from disrespecting any of the moderators. Any of us can say whatever we want and claim that it is “verified by a moderator.”

    If your moderator weighs in I will absolutely happily stand corrected.

    Click to expand…

    Did you catch this in the supercar “thread”?:

    “I hate to bump this thread after it’s died down but it seem appropriate to add here that based on some comments I reached out to EntrepreneurMD with an offer to / in hopes of verifying his identity and he provided photos (cars, houses, screencaps from accounts) that support the general veracity of his claims. I asked for and he provided a photo of the Ferrari with a current newspaper laying on the hood. I believe that he’s a real doc with a crazy giant house and a Ferrari and money in the bank and at least two mutual fund holdings with 10yr annualized returns exceeding 30%.”

    Click to expand…

    I stand corrected.

    What a strange way for both you and that mod to spend their time.

    We still don’t get to know the secret funds right?

    Click to expand…

    I was “that mod”

    strange why? Truth matters to me, folks around here calling each other liars, trolls, exchanging a few texts with a fellow doc to try to clear things up isn’t so much effort. I think it all happened on a Sunday evening while I was cleaning up my trashy basement utility room.

    Glad you appreciate the effort toward something real though.

    partly spurred on by your comment as a matter of fact

    I think when you add all of the assertions and questions together you arrive at a fairly clear conclusion of what is going on here. I hope the mods act accordingly
    Click to expand…

    So EntrepreneurMD was called a liar and then the wish was expressed that a mod figure out the truth of the matter. When that actually happened it was “weird”. Does that about sum it up?

    Click to expand…

    Yes.

    Wish there were private invitation only chat rooms for physician business owners or serious conversation regarding the direction of the economy. WCI should consider. That would put people with similar interests together and prevent trolling, name calling, wild accusations, topic disruptions and the like.

    #238557 Reply
    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
    Posts: 1197
    Joined: 01/26/2017

    Define “verified”.

    I know @entrepreneurmd identity

    shared pictures of house, address, ownership of same verified at county appraiser website

    same for commercial building housing practice, practice website clearly shows the doc and his mid levels, building tenants

    Pics of cars with house, current possession verified with Ferrari pic with current newspaper on the hood

    screenshots of various accounts with balances including IRA, cash accounts, loan accounts as well

    screenshots from 1040 and 1120 showing personal and business income

    regarding the super funds I’m comfortable of current possession but not holding period and I clarified this in the other thread

    sure it’s not 100% but good enough for me

    of course I’ve no input as to the value of the practice or market value of building which is where majority of net worth figure is

    Click to expand…

    Strange that someone would be so desperate to validate himself that he would share all of this with a stranger (it’s almost pathetic), I wouldn’t. If you don’t believe what Fatlittlepig writes that’s fine, no problem. I don’t feel the need to send all of this stuff to a stranger, but I guess some people do.

    Click to expand…

    I reached out to him, not the other way around so I think the “desperate to validate” comment is really unfair.

    Click to expand…

    Fair enough, however sharing tax forms, account information and the like doesn’t seem wise for the purposes of posting on a forum.

    #238561 Reply
    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
    Posts: 1197
    Joined: 01/26/2017

    We’ll let the forum decide who’s trolling who. Seems to me this thread was a pseudo humble brag disguised as an attempt to ask for advice…

    FLP

    #238564 Reply
    Avatar jacoavlu 
    Moderator
    Status: Physician, Small Business Owner
    Posts: 2382
    Joined: 03/01/2018

    We’ll let the forum decide who’s trolling who. Seems to me this thread was a pseudo humble brag disguised as an attempt to ask for advice…

    FLP

    Click to expand…

    some may characterize your forum history in a similar manner. You deleted some of those posts, but I remember more than a little similarity between folks’ thoughts of you, and your thoughts of EMD

    https://www.whitecoatinvestor.com/forums/topic/how-rare-are-financially-savvy-physicians/#post-34624

    https://www.whitecoatinvestor.com/forums/topic/where-are-the-fatlittlepigs-are-fatlittlepigs-rare/#post-147454

    The Finance Buff's solo 401k contribution spreadsheet: https://goo.gl/6cZKVA

    #238568 Reply
    MPMD MPMD 
    Participant
    Status: Physician
    Posts: 2509
    Joined: 05/01/2017

    MPMD, Wonka’s comment and the like are why I keep noting my numbers were verified by a moderator here, including the cash reserves and the exact funds owned and their returns. It’s up to each to decide if they want to disrespect the moderator’s authority, and thus the ability to see the possibilities for those who haven’t gotten to where they want to.

    I specifically mentioned this post was not even about market investment.

    Click to expand…

    This is the farthest thing from disrespecting any of the moderators. Any of us can say whatever we want and claim that it is “verified by a moderator.”

    If your moderator weighs in I will absolutely happily stand corrected.

    Click to expand…

    Did you catch this in the supercar “thread”?:

    “I hate to bump this thread after it’s died down but it seem appropriate to add here that based on some comments I reached out to EntrepreneurMD with an offer to / in hopes of verifying his identity and he provided photos (cars, houses, screencaps from accounts) that support the general veracity of his claims. I asked for and he provided a photo of the Ferrari with a current newspaper laying on the hood. I believe that he’s a real doc with a crazy giant house and a Ferrari and money in the bank and at least two mutual fund holdings with 10yr annualized returns exceeding 30%.”

    Click to expand…

    I stand corrected.

    What a strange way for both you and that mod to spend their time.

    We still don’t get to know the secret funds right?

    Click to expand…

    I was “that mod”

    strange why? Truth matters to me, folks around here calling each other liars, trolls, exchanging a few texts with a fellow doc to try to clear things up isn’t so much effort. I think it all happened on a Sunday evening while I was cleaning up my trashy basement utility room.

    Glad you appreciate the effort toward something real though.

    partly spurred on by your comment as a matter of fact

    I think when you add all of the assertions and questions together you arrive at a fairly clear conclusion of what is going on here. I hope the mods act accordingly
    Click to expand…

    So EntrepreneurMD was called a liar and then the wish was expressed that a mod figure out the truth of the matter. When that actually happened it was “weird”. Does that about sum it up?

    Click to expand…

    Yes.

    Wish there were private invitation only chat rooms for physician business owners or serious conversation regarding the direction of the economy. WCI should consider. That would put people with similar interests together and prevent trolling, name calling, wild accusations, topic disruptions and the like.

    Click to expand…

    MPMD, Wonka’s comment and the like are why I keep noting my numbers were verified by a moderator here, including the cash reserves and the exact funds owned and their returns. It’s up to each to decide if they want to disrespect the moderator’s authority, and thus the ability to see the possibilities for those who haven’t gotten to where they want to.

    I specifically mentioned this post was not even about market investment.

    Click to expand…

    This is the farthest thing from disrespecting any of the moderators. Any of us can say whatever we want and claim that it is “verified by a moderator.”

    If your moderator weighs in I will absolutely happily stand corrected.

    Click to expand…

    Did you catch this in the supercar “thread”?:

    “I hate to bump this thread after it’s died down but it seem appropriate to add here that based on some comments I reached out to EntrepreneurMD with an offer to / in hopes of verifying his identity and he provided photos (cars, houses, screencaps from accounts) that support the general veracity of his claims. I asked for and he provided a photo of the Ferrari with a current newspaper laying on the hood. I believe that he’s a real doc with a crazy giant house and a Ferrari and money in the bank and at least two mutual fund holdings with 10yr annualized returns exceeding 30%.”

    Click to expand…

    I stand corrected.

    What a strange way for both you and that mod to spend their time.

    We still don’t get to know the secret funds right?

    Click to expand…

    I was “that mod”

    strange why? Truth matters to me, folks around here calling each other liars, trolls, exchanging a few texts with a fellow doc to try to clear things up isn’t so much effort. I think it all happened on a Sunday evening while I was cleaning up my trashy basement utility room.

    Glad you appreciate the effort toward something real though.

    partly spurred on by your comment as a matter of fact

    I think when you add all of the assertions and questions together you arrive at a fairly clear conclusion of what is going on here. I hope the mods act accordingly
    Click to expand…

    So EntrepreneurMD was called a liar and then the wish was expressed that a mod figure out the truth of the matter. When that actually happened it was “weird”. Does that about sum it up?

    Click to expand…

    I was apparently incorrect that he was simply trolling as I’ve stated and I believe that @jacoavlu verified this info in good faith and correctly.

    #238572 Reply
    Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 334
    Joined: 06/10/2019

    I’m actually curious where one finds so often 0% credit card balance transfer offers. I get lots of offers but they almost universally have a 2% or more often 3% transfer fee. I assume OP isn’t absorbing such a fee. I play the miles and points game a bit, never carry a balance but have taken advantage of rare true 0% offers

    I would certainly vote to pay off most of the debt and carry less cash.

    Click to expand…

    Currently, Bank of America. No balance transfer fees or at least when I applied a few months ago.

    #238600 Reply
    Avatar Tim 
    Participant
    Status: Accountant
    Posts: 3084
    Joined: 09/18/2018

    “Fair enough, however sharing tax forms, account information and the like doesn’t seem wise for the purposes of posting on a forum.”

    jacoavlu seemed to act in good faith. After all it is the internet. Nothing has been actually verified.
    Sorry, sub-standard that is easily contrived. A former AG submitted a false tax return, documentation of income for an auto loan. Who would have thought of that?

    Insecurity can drive one to boast. But I will not throw stones. I really wish the process was explained, it’s so much more valuable than pictures.

    #238603 Reply
    Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 334
    Joined: 06/10/2019

    I’m actually curious where one finds so often 0% credit card balance transfer offers. I get lots of offers but they almost universally have a 2% or more often 3% transfer fee. I assume OP isn’t absorbing such a fee. I play the miles and points game a bit, never carry a balance but have taken advantage of rare true 0% offers

    I would certainly vote to pay off most of the debt and carry less cash.

    Click to expand…

    Currently, Bank of America. No balance transfer fees or at least when I applied a few months ago.

    Click to expand…

    https://secure.bankofamerica.com/applynow/welcome.go?cm_sp=Cons-CC-_-NotAssigned-_-CCW5HZ6A04_Hero_NH_JuneStarUpdateNoBonusG3_JCRLink

    #238618 Reply
    Avatar jacoavlu 
    Moderator
    Status: Physician, Small Business Owner
    Posts: 2382
    Joined: 03/01/2018
    Nothing has been actually verified.

    Click to expand…

    I’m surprised you’re still trying to make this point. Do you think this is a case of stolen identity?

    The Finance Buff's solo 401k contribution spreadsheet: https://goo.gl/6cZKVA

    #238622 Reply
    Zaphod Zaphod 
    Participant
    Status: Physician, Small Business Owner
    Posts: 6191
    Joined: 01/12/2016

    “my own current research ” ?
    Please provide the data. Fear sells.

    Click to expand…

    “With world economic growth slowing and spreading contagion into the US markets, contraction in some sectors (ie. manufacturing), the escalating trade war and business uncertainty, treasury yield inversion and collapse, Brexit, Eurozone weakness, 18 months of essentially no real market returns, weakening oil demand, gold rising, other leading indicators, it’s an interesting time to be recommending the stock market.”

    Not sounding like Goldilocks to me personally right now. If you’re recommending market entry at this level, sell me on the hope argument.

    Click to expand…

    Agree this time feels different and indeed some things are coming to a head, we may be past point of no return but each choice/intervention/etc…changes it and you have to update. For example, was feeling as you do lately, but today, trump backed down 50%…now this may not change the ultimate outcome if he persists, but it does change the attitudes and the acceleration for sure. Interested to see next couple months of data and what the fed does with a flip flopping every couple weeks on such serious and consequential matters.

    #238701 Reply
    Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 334
    Joined: 06/10/2019

    Zaphod,

    Updating daily my friend to the fund of data points that culminate in my strategy. A headline is great but needs to follow thru with hard data. 10yr/2yr treasury on the verge of inversion today (the more important inversion) – will that trend of bad data reverse or continue?

    I expect China to at least wait out the 2020 election. In the meantime will they give Trump a watered down deal so he can play hero president or will he be aggravated?

    If some positives emerge, perhaps I would reverse my trend of selling on the highs rather than buying on a dip. Obviously one headline is not enough to make a significant change and I’m still inclined to work on debt repayment rather than market investment. Plan to pay off the home mortgage in about 2 months. There should be a market rally this fall/winter – will it have substance or be another fool’s rally? 4-6 months of data points coming. Plenty of time to change my mind on 2-3 year plan.

    The world economies need to stop retreating (in terms of rapidly slowing growth) with this and other potential near future central bank rate cuts.

    On a positive note the US consumer is very strong, inflation remains tame for now, monthly hiring has held up, lower rates spurring refinancing, low regulatory environment.

    Who knows? Collective data critical in this environment.

    #238731 Reply
    Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 334
    Joined: 06/10/2019

    2/10 year yield inverted. Gold up, oil down. World’s second largest economy slowed faster than expected. Inflation surprise. What a slew of great news.

    Like clockwork. Reinforces deleveraging debt for now and market fire sale later.

    #238800 Reply
    Liked by Zaphod
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 1862
    Joined: 02/11/2019
    If some positives emerge, perhaps I would reverse my trend of selling on the highs rather than buying on a dip.

    Click to expand…
    2/10 year yield inverted. Gold up, oil down. World’s second largest economy slowed faster than expected. Inflation surprise. What a slew of great news. Like clockwork. Reinforces deleveraging debt for now and market fire sale later.

    Click to expand…

    Reacting to daily news and current events can really get you into trouble.  Your 2 last posts were less then 12 hours apart and you go from a slight back peddle to doom and gloom again.

    Buy the market, pay down debt, hoard gold, Do whatever you want but do not base it on the news of the day.

    “Never let your sense of morals prevent you from doing what is right.”

    #238813 Reply
    Liked by fatlittlepig
    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
    Posts: 1197
    Joined: 01/26/2017
    If some positives emerge, perhaps I would reverse my trend of selling on the highs rather than buying on a dip. 

    Click to expand…
    2/10 year yield inverted. Gold up, oil down. World’s second largest economy slowed faster than expected. Inflation surprise. What a slew of great news. Like clockwork. Reinforces deleveraging debt for now and market fire sale later. 

    Click to expand…

    Reacting to daily news and current events can really get you into trouble.  Your 2 last posts were less then 12 hours apart and you go from a slight back peddle to doom and gloom again.

    Buy the market, pay down debt, hoard gold, Do whatever you want but do not base it on the news of the day.

    Click to expand…

    So true. @lordosis speaks wisely.

    #238821 Reply
    Liked by Lordosis
    Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 334
    Joined: 06/10/2019

    Absorption of new data is not reacting. Some days news is more important than others. 2/10 hasn’t inverted since 2007.

    Didn’t react at all. Didn’t buy. Didn’t sell. Didn’t change trading strategy or debt payment plans.

    No back peddle. Doom and gloom I would have sold.

    #238822 Reply
    Liked by Zaphod

Reply To: Debt Repayment Strategy

This topic is marked as closed to new replies, however your posting capabilities still allow you to do so.

In case of a glitch or error, please save your text elsewhere, clear browser cache, close browser, open browser and refresh the page.

Notifications Mark all as read  |  Clear