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  • Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    Ours was 1x, a foreclosure during GFC. With recovery and upward creep of COL, it is now worth easily 2x. (Well, 4x, because I’m also subsequently part time.) I would have paid full price in retrospect, because I’m quite happy here. But it would have taken longer for FI….

    Ultimately, there will always be a nicer house than the one you have. Of course a 1.5M house is awesomer than a 700k house. Buy what will make you happy within the constraints of what you can afford.

    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    If it makes you feel any better, I actually pay (not just forgo income) to get off holidays/weekends while my kid is not in school.

    in reply to: Is time with my kids worth $1M? #254058 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    I think you’re drilling down too far.  Not seeing the forest for the trees and whatnot.

    Yes, kids are worth a million.  Certainly worth $30k/yr if all other financial needs are met.

    in reply to: Is time with my kids worth $1M? #254056 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016
    Splash Refinancing Bonus

    pay with percentage of individual billing from pot of collections/stipends.  expenses/fees distributed by same percentage.  plan about how to add partners.  plan about how to leave.

    contact and join ACEP democratic group section for guidance.

    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016
    in reply to: How much I need to save for retirement? #253941 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    Similar situation. Part time work has been my answer, enough to cover expenses and still have some left over. Adding to cash (goal is 3 yrs of burn) and increasing bonds.
    If MIL lived with me…well. I dont know what I’d do.

    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    25x what you spend, is the typical answer.

    in reply to: How much I need to save for retirement? #253928 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016
    I’m an outgoing introvert 

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    I found this description fascinating. I’m definitely an introvert. However, have never understood why it’s so easy for me to strike up convo’s with total strangers – and enjoy doing so whenever, wherever – when I always choose private time over socializing. We have an apartment that is separate from our living space (connected to our house but guests can come and go as they please in a separate entrance). So, as long as I don’t have to socialize whenever we have guests (which my extrovert hubs thrives on), I am cool whenever someone is visiting.

    So, am I an outgoing introvert?

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    I always like an opportunity to plug the book “Quiet.”  Recommended for introverts and any extrovert who has to deal with introverts.

    In your line of work and that limited description, my guess is that you are a pseudo-extrovert.

    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    Upon returning to my car from a hike this afternoon, I found my driver’s side window smashed and center console opened. Although my wallet could not have been seen from the outside, I am pretty predictable where I keep it hidden. Luckily the work bag with my surgical loupes, 3 different hospital entry cards, and prescription pads were not touched.

    The topic I wanted to touch on: do you know what’s in your wallet? I had to think and am still wondering if I forgot anything.

    I had 3 credit card [trying that travel rewards life], 1 debit card, 1 blank check, a card with my bank logo and our checking and personal business account numbers on it, and a card with the written down SSN’s of my wife and kids [which I had ‘encrypted’ by just using their first initial next to the number, but alas! it could be easily decoded by cross-checking with our family insurance card, also in the wallet]. Not to mention the Indian Buffet Frequent Diner card that I had almost enough punches for a free lunch.

    Closing the credit cards and shutting off the debit card was relatively easy and completed within 30 minutes. Within that 30-50 minutes, over $1000 had been charged. The incident made me realize I have been carrying too much stuff/information in my wallet. So if you are lucky enough to have wallet, hug that wallet, and make a mental note of all personal information therein.

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    Don’t know why stories like this make me so mad–why can’t people keep their hands to themselves??  Glad you are ok.

    I’m surprised that you would leave your work stuff in the car.  Loupes are free, it is not a hassle to get a a new hospital badge, and it is certainly easy to let all the pharmacies in town know about an rx pad theft!  😉

    in reply to: PSA – What's in Your Wallet? #253409 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016
    Earnest refinancing bonus

    attending lifestyle

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    I think this is where things jump off the rails.  what is an attending lifestyle?  living payroll to payroll?  being FI?  we have examples of each in my group.  and some of the FI folks look like the stereotypical rich american; but they didn’t look like that in their 30s.

    5bedrooms

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    good schools

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    okay on my income alone

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    fancy car and nice home someday for them and myself

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    a few years down the road

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    so: 1 or more fancy houses, multiple fancy cars, potentially multiple private schools, possibly paying for parents.  and doing something with the student loan debt as well.  all in the near future, on one income.  I’ll just point out again my suggestion of recalibrating your expectations.  you don’t get a pass on the math.

    nothing stopping you from starting a business, running a company, inventing something, etc, but even these are seeds that will take many years to bear fruit.

    in reply to: Where do I go from here? #253354 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    I know a German shepherd is not a Belgian Malinois, but I’ve looked at both breeds in a new light since reading Trident K9 Warriors.  Awesome!

    in reply to: Dog Ownership and Living Longer #253224 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    We just opened a taxable account so I am doing some reading about it. Some have suggested that you only add money quarterly so you don’t end up with a bunch of tax lots (I think that is what they are called). What do you guys think? Or do you not TLH, so it doesn’t matter?

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    This strikes me as letting the tax tail wagging the investing dog.  Keep in mind that on average the TSM goes up about 2% every quarter.  I don’t have data to support this but I think you’d be better off putting money in immediately and not TLHing than putting it in quarterly and TLHing.

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    This is where TLH “partners” come into play.

    in reply to: How often are you investing in taxable accounts? #253216 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016
    WHAT DO YOU MEAN SELL IT??

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    Selling a bottle here and there is what keeps my wife semi-believing that the collection is an investment.  (That and showing her auction results.)

    The nice thing about BTAC/Pappy is that the secondary market is very active, making it is easy to value.  And that spread from retail to resale is nearly criminal, particularly if you never get a chance to buy at retail….

    Word on the street is that Total Wine Concierge will drop an email 10/23 about the fall release–not clear if that is when the stuff goes on sale or if it is just info about the sale.  Is there a TW in NOLA?

    in reply to: frivolous female spending #253215 Reply
    Liked by mapplebum, Craigy
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    Wasn’t there a naughty dog thread very recently?

    My dog is bionic at this point…I’m hoping that investment leads to more healthful longevity for our family!

    in reply to: Dog Ownership and Living Longer #253188 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1870
    Joined: 01/08/2016

    automatic monthly plus manual quarterly

    in reply to: How often are you investing in taxable accounts? #253160 Reply
    Liked by SLC OB, Lordosis
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