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Move short term HCOL –> LCOL for student debt?

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  • Avatar ZZZ 
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    And reading from TX may complicate (and reduce rates) for billing for cases you read. Read up on place of service billing rules and make sure your practice knows.

    #204893 Reply
    xraygoggles xraygoggles 
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    Have you checked out the California multi state tax rules? Establishing earnings being exempt from Cali taxes is critical. Does it take a residence for a calendar year and cutting ownership like DL and car registration etc due to the nature of your employment? One question would be State Licensing.
    Fla and Tex coasts might be lower costs. You might chose 6 months or 18. The “hip factor” is 40k undergraduates. That probably won’t do you a lot of good. Austin has 6th Street and some cool places.
    Matthew McConaughey, Lance Armstrong, Willie Nelson, Michael Dell all live there. Just probably in neighborhoods that make sense for more than a year.
    How can you look at the Texas legislature and still believe in intelligent design? Keep Austin weird is a way of life. Beauty is in the eye of the beer holder.

    Visit for a week, do your tax homework. California is aggressive.

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    I didn’t think about the tax issues, but I think you are right about CA being aggressive going after taxes…. this may complicate my plans, and may make it very less likely to move for a year or two and deal with all the hassle….

    #204910 Reply
    xraygoggles xraygoggles 
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    Getting a better radiology job would do far more for your financial well being than moving to Austin, which is decidedly not LCOL. Your pay is pretty low for a radiologist working that much, and I bet your benefits are subpar, and that 400k is probably 1099. Have you looked for a better job?

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    No, I work as an employee with great benefits. I would never have a normal 8-5 job working every week, but that’s just my personal preference.

    #204912 Reply
    xraygoggles xraygoggles 
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    your plan makes no sense. u already make enough to pay off your loans, why would you move to some random place to work more.

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    Thanks for your blunt wisdom… I think? 😉

    #204914 Reply
    Liked by q-school
    Avatar adventure 
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    and I bet your benefits are subpar,

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    Getting to work from home is pretty ideal.

    #204931 Reply
    Avatar ZZZ 
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    “Getting to work from home is pretty ideal.”

    Getting to work from home while receiving total comp on the order of 70% of other radiologists who can also work from home would seem less so.

    “I would never have a normal 8-5 job working every week, but that’s just my personal preference.”

    Nobody said work an 8-5. Just suggested that maybe instead of moving halfway across the country to save a bit on state income tax and have a marginally lower cost of living, you could try to find a job where you do exactly what you currently do, but get paid better than the current low for radiology pay that you’re making. I mean, if you’re really looking to move for a couple years to make hay and save. I mean, if you want to move to Austin, I hear there’s a big group down there that pays substantially more than you’re currently making. Spend less to live AND make more for doing the same work, that’s geographic arbitrage.

     

    #204936 Reply
    Avatar Tim 
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    Splash Refinancing Bonus

    “geographic arbitrage” applies to any distance. Some call it a commute. Just saying.

    #204974 Reply
    Avatar MSooner 
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    I hear there’s a big group down there that pays substantially more than you’re currently making. Spend less to live AND make more for doing the same work, that’s geographic arbitrage.

    That group just sold out to private equity this year. I cant imagine how many of those in the middle of the FIVE YEAR partnership track were thrilled about that. Supposedly they are having trouble recruiting because of this, but I’m not sure if that is true or not. Austin was on our list, but we quickly scratched it after looking closer at the job market/COL there. And that was before they buyout.

    The radiology job market has gotten WAY better in the past two years, but supposedly the coasts (especially coastal CA) are still pretty horrific. I figured OP was working telerads because it may have been the best job for someone that was only looking in San Diego.

    Everyone and their mother wants to live in Austin…it really isn’t that great of a deal. In general, over the past 5 years metro Texas just isn’t that great of a deal anymore–though Houston and San Antonio are a bit better. It used to be if you could handle the weather/lack of stuff to do then the COL was worth it. Not so much anymore. It certainly is still cheaper than the most expensive areas, but it isn’t what it used to be. Now if you are willing to do an area like Lubbock, Temple, or Tyler…those are more of what people are expecting “Texas prices” to be, but you have to be a certain kind of person to be able to handle it.

    #204986 Reply
    Liked by Vagabond MD, Tim
    xraygoggles xraygoggles 
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    “Getting to work from home is pretty ideal.”

    Getting to work from home while receiving total comp on the order of 70% of other radiologists who can also work from home would seem less so.

    “I would never have a normal 8-5 job working every week, but that’s just my personal preference.”

    Nobody said work an 8-5. Just suggested that maybe instead of moving halfway across the country to save a bit on state income tax and have a marginally lower cost of living, you could try to find a job where you do exactly what you currently do, but get paid better than the current low for radiology pay that you’re making. I mean, if you’re really looking to move for a couple years to make hay and save. I mean, if you want to move to Austin, I hear there’s a big group down there that pays substantially more than you’re currently making. Spend less to live AND make more for doing the same work, that’s geographic arbitrage.

     

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    I’m not worried about pay, I anticipate making 400-500k/year starting in mid-2019 due to many factors.

    Not sure if you’re a rads or not, but the days of working for vRad as the only tele job in town is no longer the case. In fact, most tele jobs nowadays offer a base salary (W2 with benefits) along with the usual productivity bonus.

    And if you are a rads, I would consider looking into a tele job; you can thank me later.

    #204991 Reply
    Avatar ZZZ 
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    “I’m not worried about pay, I anticipate making 400-500k/year starting in mid-2019 due to many factors.”

    Hmmm. You considered moving halfway across the country to possible save money to pay off your loans quicker. You realize more pay would do the same thing for you, right?

    If you think that pay level is good…someone is making a ton of $ off of you. Sounds like the new tele paradigm is awesome…for the owners.

    #205040 Reply
    xraygoggles xraygoggles 
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    If you think that pay level is good…someone is making a ton of $ off of you. Sounds like the new tele paradigm is awesome…for the owners.

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    Yes that is true, it is a gravy train for the company’s coffers. However, you also get shares in the company, which can work out very nicely if/when it ever goes public.

    #205388 Reply
    Phoenixdown99 Phoenixdown99 
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    Status: Physician
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    Think about doing locums if you want something short-term – they will pay for your housing wherever you go, a car, travel, and usually great compensation if you go to a more remote area that lacks doctors.

    I got to see Oregon and Hawaii that way — two fairly high COL areas that I probably would not have otherwise lived in.

    #205459 Reply
    Liked by Tim

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