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Thank you WCI

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  • Drop it into MD Drop it into MD 
    Participant
    Status: Physician
    Posts: 440
    Joined: 09/20/2018

    I am going to take this Thanksgiving opportunity to officially say thank you to WCI and the other members of this forum  I would be remiss if I did not also thank POF because his posts and comments have been extremely helpful too.   I am overly verbose so if that is all you read I will be happy with it.

    For those who want to bear with me and hear the full story here it goes…

    I am 3 years out of residency currently.  I thought I had a lot of debt, 250K,  but I am learning that mine was small potatoes.  I never knew what to do with money.  Through residency luckily someone convinced me to at least get the match of the 403 B which I did.  But other then that I felt the best use of my money was to pay down loans.  We paid aggressively and 2 years out of residency I was done with them!  But then I did not know what to do with money again.  I considered getting an adviser and was looking into that when I came across WCI.

    That was about 6 months ago.  I was on the verge of a major lifestyle inflation but partly because of my reading here and overall introspection into my current situation I avoided getting my self sucked into that doctor house.  We ended up getting a 1X mortgage rather then a 3X.  Thank you!

    I started maxing my 403B and learned that we also have a 457 that I now also max out.  Max the HSA and do a yearly BDRx2.  That alone gets my savings rate where it should be.  Now I can retire after a normal career.  Thank you!

    I learned that we have a FSA to help defer some more taxes and finally started up the 529 accounts.  This will help a little now and a lot later.  Thank you!

    I opened a brokerage account and now have a place to save money rather then hording in a 0 interest bank account.  Thank you!

    I have been using personal capital which is fantastic.  It will help me track expenses and watch the portfolio.  Thank you!  (this one mostly goes to POF)

    Also all the advise provided by the forum members.  Thank you all!

    I wish you all a great thanksgiving.  I hope you are not on call.

    I will continue to spread the word of WCI in my small little corner of the universe.

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

    Well done.

    Rather than start a new thread, I would also say that I am thankful for the physician personal finance literacy and wellness community, and its unofficial leader, the @WCI. Special shoutouts to PoF and TheHappyPhilosopher who were both instrumental in reshaping my personal and physician life.

    With its support, I have emerged from burnout and reshaped a career that I enjoy, something I would not have thought possible even a year ago.

    I have been able to share my personal story and help others come to grips with their burnout.

    I have had the opportunity to write articles and participate in podcasts.

    I have made some great friends, both online and in person, and look forward to many years of kinship and camaraderie.

    And I will never again work on Thanksgiving. Ever. (The first 16 years or so, of my career, I worked every Thanksgiving.)

    Happy Thanksgiving to all!

     

    MPMD MPMD 
    Participant
    Status: Physician
    Posts: 2598
    Joined: 05/01/2017

    I third this.

    I find this community to be really special both in its ability to have thoughtful disagreements without resorting to ugliness and also in the space it creates to discuss real issues for high income professionals.

    I also was an early adopter of WCI. I looked in my gmail and found correspondence from Jim from 2012 back when he was basically just responding personally to all of these queries.

    Although I am naturally pretty frugal this site has helped me define goals and motivated me to pay off debt.

    I wonder quite a bit what would have happened if I hadn’t discovered this site. I think I’d be doing fine (7 years out) but would still probably have student loans, likely be in a slightly more expensive house, and can almost guarantee you that I’d be driving a much more expensive vehicle with a hefty payment. I also shudder to think that the only advice I got in residency was to get “a guy” who in hindsight would have been a slick WLI salesman.

     

    SerrateAndDominate SerrateAndDominate 
    Participant
    Status: Physician
    Posts: 495
    Joined: 02/01/2018

    Ditto to above.  Since halfway through the second year of medical school, I dropped all social media, blogs, forums, etc to focus on Step 1 and school.  After lurking a while, I joined this site and check it constantly. I’ve learned a ton from this site to help me correct my mistakes and share with others. I’m glad I caught onto this now rather than much later in life, if at all. I’d like to think this site and community helped me successfully negotiate the dream job I just got offered yesterday.

    It’s great to have cordial discussions and get new perspectives.  I have no doubt these posters bring that type of enthusiasm and friendliness to their workplace, which gives me a little extra hope in humanity.

     

    Have a great holiday, everyone

    Earn everything.

    #168838 Reply
    Avatar Sid16 
    Participant
    Status: Physician
    Posts: 9
    Joined: 11/13/2017

    Same as above. Very greatful for this wonderful website and forum  which has helped me learn from my mistakes, teaches me something valuable everytime I visit( and not just finance !). I really appreciate forum members taking out their time to provide advice/guidance/direction to those in need.

     

    Happy Thanksgiving !

    Zaphod Zaphod 
    Participant
    Status: Physician, Small Business Owner
    Posts: 6327
    Joined: 01/12/2016

    Me as well. This place is great and helps to keep things in line and consider different ways to get things done.

    #168860 Reply
    Neuro Neuro 
    Participant
    Status: Physician
    Posts: 60
    Joined: 01/08/2016

    Absolutely – Thanks to WCI, and everyone here on the forums.

    Happy Thanksgiving to all.

    #168870 Reply
    Avatar billy 
    Participant
    Status: Physician
    Posts: 177
    Joined: 04/07/2016

    Ditto. And vagabond thanks for sharing your story too- it helped give me the courage to put my family first and not care about the stigma of being a new-ish attending who will also never work on thanksgiving again (although I’m fair game for day after thanksgiving and all the -eve’s)

    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4601
    Joined: 05/13/2011

    You’re welcome and thank you to all of you. I literally cannot answer all the money questions doctors have.

    Happy Thanksgiving.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    hatton1 hatton1 
    Participant
    Status: Physician
    Posts: 3124
    Joined: 01/11/2016

    Happy Thanksgiving to all.  I enjoy the camaraderie here.  I comment if I can relate to the topic

    #168917 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3486
    Joined: 01/21/2016

    Ditto. And vagabond thanks for sharing your story too- it helped give me the courage to put my family first and not care about the stigma of being a new-ish attending who will also never work on thanksgiving again (although I’m fair game for day after thanksgiving and all the -eve’s)

    Click to expand…

    Family first. Always.

    #168919 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4601
    Joined: 05/13/2011

    Ditto. And vagabond thanks for sharing your story too- it helped give me the courage to put my family first and not care about the stigma of being a new-ish attending who will also never work on thanksgiving again (although I’m fair game for day after thanksgiving and all the -eve’s)

    Click to expand…

    I’ll work the holiday every time if I can avoid the day after. December 26th is my least favorite day to work all year.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #168939 Reply
    Avatar hospitalist md 
    Participant
    Status: Physician
    Posts: 92
    Joined: 10/31/2017
    Earnest refinancing bonus

    yes thank you to WCI and POF and all the forum members. I was in a very similar situation as the OP … only without loans. did not know what to do with my money at all, through the residency . Then i discovered WCI and POF . i will be forever thankful to these guys …. helped me avoid making most of the major financial mistakes… whole life for one…

    I love logging in to WCI forum atleast once a day just to follow various topics( not sure if that makes me weird….) . I learn more from here than any finance books… I don’t contribute a lot since am still learning …but maybe one day i wil get to a point where i can answer some questions with some knowledge… until then happy thanksgiving every one !!

    #168988 Reply
    Avatar Bmac 
    Participant
    Status: Physician
    Posts: 318
    Joined: 10/21/2017

    I’d be thankful for @WCI except there was no such thing when I left residency 20 years ago. Luckily, in addition to minimal student loans and a frugal nature, I had the good fortune of a modicum of personal finance interest and fairly quickly stumbled across “The Coffeehouse Investor,” “Bogle On Investing,” and ultimately the Morningstar Vanguard Forum which then became the Bogleheads Forum (Bogleheads.org). Somehow I managed to educate myself and successfully do all the fundamentals now espoused by @WCI (live like a resident, maximize tax-deferred space, back-door Roth when it became an option, etc.). Which goes to show this ain’t brain surgery (but vastly useful for brain surgeons, et. al.).  But humblebrag aside (maybe not so humble?), there is no question that @WCI is my first recommendation to all the younger physicians I meet that are willing to listen in the hopes they can benefit from all that is offered here. I’ve seen @WCI grow from a simple blog to the current multimedia platform and it is truly amazing. Well done. And happy thanksgiving to all.

    #168996 Reply
    Avatar Firefly 
    Participant
    Status: Physician
    Posts: 41
    Joined: 07/31/2018

    Happy thanksgiving everyone. I’ll add to the chorus sincere thanks to WCI, PoF and to everyone who posts here. Especially the crew of regulars. I would be in a far different situation now 2 years out from fellowship had I not found this site. Rather than driving a V12 G wagen and paying 6 figures of debt over 30 years, we are debt free with 6 figure net worth and driving a 2003 Toyota !

    #169007 Reply

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