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End of Year Net Worth

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  • ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3567
    Joined: 01/14/2017

    Good old tax reduction and earnings increasing.

    #95606 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3486
    Joined: 01/21/2016

    The demographics of WCI Forum participants must skew very young or us older (over 50) folks choose not to divulge such information. Perhaps because our net worth numbers are either embarrassingly high or embarrassingly low…

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    Agree! I am not sure if mine is embarrassingly high or embarrassingly low, just that it is embarrassing. 😉

    #95608 Reply
    Liked by G, CM, Neuro-doc, hatton1
    Avatar Bmac 
    Participant
    Status: Physician
    Posts: 318
    Joined: 10/21/2017

    The demographics of WCI Forum participants must skew very young or us older (over 50) folks choose not to divulge such information. Perhaps because our net worth numbers are either embarrassingly high or embarrassingly low…

    Click to expand…

    Agree! I am not sure if mine is embarrassingly high or embarrassingly low, just that it is embarrassing. ?

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    Or perhaps it is a generational thing. A different comfort level posting specific personal and possibly identifiable information on public forums. I suspect neither of us grew up posting selfies to instagram and tweeting our every activity ?

    #95613 Reply
    Liked by CM
    Avatar Matas 
    Participant
    Status: Physician
    Posts: 140
    Joined: 07/09/2017

    With the extended bull market and improving economy, this thread kinda reminds me of that old shampoo commercial – “I went from flat – to fluffy!”

    #95614 Reply
    Liked by jfoxcpacfp
    Avatar Neuro-doc 
    Participant
    Status: Physician
    Posts: 180
    Joined: 02/16/2017

    The demographics of WCI Forum participants must skew very young or us older (over 50) folks choose not to divulge such information. Perhaps because our net worth numbers are either embarrassingly high or embarrassingly low…

    Click to expand…

    I’m in my 50’s, and decided not to divulge. I hope that it’s embarrassingly high, but then again, everyone’s net worth statement looks rosey 9 years into a bull market.

    Only three people beside myself know our net worth: my wife, my son, and my accountant. Otherwise, I try to have a “stealth wealth” life, with occasional bursts of what @vagabondmd has callled “selective extravagance”.

    #95620 Reply
    CM CM 
    Participant
    Status: Physician
    Posts: 1188
    Joined: 01/14/2017

    The demographics of WCI Forum participants must skew very young or us older (over 50) folks choose not to divulge such information. Perhaps because our net worth numbers are either embarrassingly high or embarrassingly low…

    Click to expand…

    This looks like fun and all, but I’d be uncomfortable publishing my financial data on the internet. This forum is anonymous, but ad-trackers seem to know who I am, and I receive targeted emails from salespeople and vendors who seem to know an uncomfortable amount about me–even though I never intended to divulge any information to them. Apparently, Google people can read any email I might send on Gmail.

    I’m sure that I’d be shocked if I found out how much of my supposedly private info is already known by various internet vendors. I’m not inclined to help them out. They don’t seem to need the aid.

    Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.

    #95632 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3486
    Joined: 01/21/2016

    To some degree, the less you have, the more you are willing to share. If my net worth were $50,000 or -$50,000, what bad could come of that information falling into others hands and connecting it to me?

    Perhaps I am paranoid, but all of us have had patient interactions and outcomes that were less than favorable. If you haven’t, you will throughout your career. Bragging about one’s wealth on the Internet, if it fell into those hands, might be just the catalyst needed to prompt an adverse action.

    Again, extremely, extremely unlikely, that it would come to that. But why risk it?

    #95634 Reply
    Liked by hatton1, Neuro-doc, CM
    Avatar EMscout 
    Participant
    Status: Physician
    Posts: 98
    Joined: 01/13/2016

    To each their own. I would be a lot more concerned pulling out of the ED parking lot in a BMW than posting my net worth on an anonymous website.

    #95635 Reply
    CM CM 
    Participant
    Status: Physician
    Posts: 1188
    Joined: 01/14/2017
    Only three people beside myself know our net worth: my wife, my son, and my accountant. Otherwise, I try to have a “stealth wealth” life, with occasional bursts of what @vagabondmd has callled “selective extravagance”.

    Click to expand…

    Ditto. I’d prefer that everyone believe I’m in financial dire straights. I don’t even like to reveal that I’m a physician during casual chit-chat (e.g., with plumber, hair stylist, or next-guy-in-line at the ballgame).

    Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.

    #95636 Reply
    Avatar StarTrekDoc 
    Participant
    Status: Physician
    Posts: 2128
    Joined: 01/15/2017

    Stealth wealth is fine. People in general will assume a doc has higher net worth than most really are.

    If you’re in stealth wealth mode chances are that you don’t own the largest home or bling bling car either or in the fanciest office space with custom coffee in the waiting room.

    Those are things that make you a target more than anything. Savvy hunters will also run title searches, so stealth wealth also needs good legal methods of hiding and protections from discovery.

    Anyone with a calculator can figure out quite quickly ones general income and most here will see a 50-150k yty increase based simply on savings goals if applied diligently. The rest is compounded earnings and bull runs.

    Posting on a thread isn’t a primary threat to discovery

    #95642 Reply
    Zaphod Zaphod 
    Participant
    Status: Physician, Small Business Owner
    Posts: 6326
    Joined: 01/12/2016

    The demographics of WCI Forum participants must skew very young or us older (over 50) folks choose not to divulge such information. Perhaps because our net worth numbers are either embarrassingly high or embarrassingly low…

    Click to expand…

    This looks like fun and all, but I’d be uncomfortable publishing my financial data on the internet. This forum is anonymous, but ad-trackers seem to know who I am, and I receive targeted emails from salespeople and vendors who seem to know an uncomfortable amount about me–even though I never intended to divulge any information to them. Apparently, Google people can read any email I might send on Gmail.

    I’m sure that I’d be shocked if I found out how much of my supposedly private info is already known by various internet vendors. I’m not inclined to help them out. They don’t seem to need the aid.

    Click to expand…

    Agree, its only seemingly anonymous. It wouldnt be that hard to put things together if you or someone nefarious tried. For those going to the conference it will become a lot less anonymous as well. My wife and I try our hardest to not divulge what we do in small talk, but its just something people cant help but asking. Maybe america is just terrible at small talk and they have difficulty talking about anything non obvious.

    Those people websites can give an alarming amount of information. Someone in our family had a subscription from an identity hack and it is scary what it knows about you, and you can enter anyones name. Not sure that its a good thing to just be out there.

    #95663 Reply
    Rogue Dad, M.D. Rogue Dad, M.D. 
    Participant
    Status: Physician
    Posts: 975
    Joined: 03/07/2016
    I’d prefer that everyone believe I’m in financial dire straights. I don’t even like to reveal that I’m a physician during casual chit-chat (e.g., with plumber, hair stylist, or next-guy-in-line at the ballgame).

    Click to expand…

    I tell people I’m an importer-exporter.

     

    http://www.RogueDadMD.com

    An alt-brown look at medicine, money, faith, and family

    #95686 Reply
    Liked by CM, adventure
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3567
    Joined: 01/14/2017

    Lightning rods aren’t good. Scams, malware, viruses and outright attempts at theft (which may or may not affect your immediate safety) are all more easily focused if you give those wishing to do wrong a place to look. Wouldn’t recommend posting financial data like net worth online. Quite frankly I’m amazed that WCI posts so much on his state of the blog posts. What’s out there now is out there, but I wouldn’t have recommended posting any of it ever. No one’s business.

    #95703 Reply
    Liked by Zaphod
    Avatar janettebournes 
    Participant
    Status: Physician
    Posts: 191
    Joined: 03/05/2017

    Lightning rods aren’t good. Scams, malware, viruses and outright attempts at theft (which may or may not affect your immediate safety) are all more easily focused if you give those wishing to do wrong a place to look. Wouldn’t recommend posting financial data like net worth online. Quite frankly I’m amazed that WCI posts so much on his state of the blog posts. What’s out there now is out there, but I wouldn’t have recommended posting any of it ever. No one’s business.

    Click to expand…

    To be fair, that kind of transparency helps build credibility and keeps me coming back

    There are other personal finance websites (perhaps even on the Wci network) that I don’t frequent as much because of the lack of details and specificity.

     

    #95705 Reply
    Liked by MPMD, hatton1
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3567
    Joined: 01/14/2017

    So you come back because he divulged how much profit he made? I’d think the content, more than anything, should keep you coming back. He could still post a state of the blog without listing any of the financial information.

    #95709 Reply

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