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Still driving my beater as well. When it dies tempted to get used S or new 3. But will probably buy a crappy Toyota/Honda since I always want my wife with kids to have the nicer car.
I haven’t read all the comments but from what I understand it is illegal to offer some free care and charge others per Medicare/government regulation. To give charitable care I would have to setup a separate organization thanks to Uncle Sam.
At end of training: -53k
1 year later: 146k
Good 200k swing as I worked my butt off. But I haven’t left my foot off the gas yet. Trying to weigh fam time now vs fam time later.
Ask him about strategies to max the QBI deduction with those limited by taxable income because in a service industry.
It might work but what’s the long term negative effects… No one knows.
At least he has passion…
But I hope it’s for caring for patients and not just the title.
3 year but 120. 3 yrs flew by for me though only signed on for 2yr bonus. 120 should be your budget but I’ve worked some 200hr months despite 120 contract but I just made them pay triple when I worked nearly double. Residencies are churning out more but in the SE they still have coverage gaps so even if your shop fills you can moonlight other spots for premium payment.August 6, 2019 at 8:46 pm MST in reply to: Waffling on 2 year vs 3 year contract?? EM 120 or 140 HR/Month Choice? #236967
@cm the 4% rule worked usually. Usually you end up with tons left over. The 4% rule works with many bad scenarios like drops in half because they have often followed been followed by many 10-20%+ years.
@wa2106 the 4% rule doesn’t assume preservation of capital but that is what happens usually since this includes most worst case scenarios and still lasts you 30 years. Most end up with more historically after the 30 years.
Very strange but yes single person s corps don’t make sense in TN. Luckily sole proprietorship is easy plus you don’t need an accountant like most do with s corps.August 2, 2019 at 2:27 pm MST in reply to: Can someone explain Tennessee's Franchise and Business Taxes to me? #235867
I use 4% real because otherwise how could the 4% rule have a chance? Must actually be higher to survive the ups and downs and withdrawals still go up with inflation.
@xraygoggles Any bonds that could be sold to rebalance when the stock market dips. Could substitute with CDs/saving account as well.
Read this whole thing than make your plan and stick to it: https://www.bogleheads.org/wiki/Asset_allocation
Don’t invest more than you comfortable with because that will likely lead you to selling during the next drop.
I consider all funds part of my asset allocation (I don’t exclude an emergency fund). It’s ok to have a chunk just in savings. Just make a plan and stick to it. Try reading some boglehead.org wikis to get an idea about different theories of asset allocation. Of the common suggestions is 1/3 international stock index, 1/3 US stock index and 1/3 bonds. As the market has done so well since the ’08 dip people seem to forget 33% bond is reasonable.
Aaaa… the age old question. Well asked though (filling tax advantaged accounts first).
5-7%: leveraging your investments but not unreasonably
3-5%: easy to beat with equities in the long run
<3%: easy to beat with inflation in the long run
To me whether to pay off depends on one's asset allocation (aka your risk level).
Consider paying off if
5-7%: you don't have a business to invest in
3-5%: you are not ok being 100% equities
<3%: you have sizeable bonds that are making less