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  • Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016

    My usual answer to start:  take your wife out to a nice dinner and get a nice bottle of wine to toast your benefactor.

    For your specifics: put a fair bit into money market fund or high yield savings account to cover a) 3 mo emergency fund, b) future tuition for you and wife c) residency interview costs.

    I would probably put extra into VTSAX after paying off car, but could also make case for paying off school debt after paying off car.  Oh, also fund his/hers Roth IRA (ideally you’re doing that already?).

    Be cautious about seeking that professional advice.  What are you hoping to gain?

    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016
    Furthermore, my marginal tax rate will jump up to 32% with even a fairly small increase in salary

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    yikes.  I won’t pile on re: being in the 24% bracket as a very busy surgical subspecialist….

    wouldn’t worry about the brackets if you’re looking to make more money.  yeah, more goes to taxes, but more goes in your pocket, right?  you might be able to pick up some 1099 work and be able to squirrel away a bunch of solo401k, practice expenses, without a big increase in taxes….

    if you don’t want more money, how about getting more CME reimbursement, dedicated conference time, a dedicated nurse or secretary?  or some services which are comped (daycare, gym, meals).

    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016

    Yeah, need roommates.  Put the kid on payroll as property manager.  Expense that, plus your kid gets some moulah for Roth.

    Or a tiny house!

    All kinds of tax fun and learning.

    It’s like the “Personal MBA” idea except for taxes!

    in reply to: Purchase home, use 529 to pay for it? #239512 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016
    Splash Refinancing Bonus
    ‘when the stock market crashes, go buy the most expensive house you can afford.’

    Click to expand…

    😒

    is this the side-eye emoji?

    in reply to: Where to stash downpayment for house #239455 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016
    It must not be that hard to get a home address. I had a super-nice patient knock with a Christmas present one year.

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    Wow.  Thank you for sharing that…seriously, thank you:  I had just always assumed that a patient knocking on my door should be met with a firearm.  Not trying to be melodramatic, just realistic.

    information from the application public

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    have you googled your name and address already?  it is amazingly easy to find; thank you, internet.  I initially had my state business license listed as home address and that is easy to find.  Any public commentary (government meetings) and it pops up.  And finally our county assessor has details such as a photo, purchase price, number of bathrooms….

    in reply to: Side Hustles & EIN? #239451 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016

    high yield savings account or since it’s already at vanguard, move it over to your choice of their money market funds.

    not too worried about losing principle

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    really.  I would then suggest BTC, coffee futures, or giving your money to that guy on here who keeps posting about his ferrari.

    in reply to: Where to stash downpayment for house #239266 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
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    Joined: 01/08/2016

    I just ran the numbers again for investing for retirement in a 529. I assure you it still doesn’t make sense. If you overfund a 529, plan to change the beneficiary to the grandkids.

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    would you mind sharing your math?

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    Yea, when the blog post I wrote for it runs. You think I run numbers for fun without any ulterior motive?

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    cheeky.

    since you’re always so far ahead with your writing, what are the odds that your blog post comes out before the 529 turns into a 629? 😉

    in reply to: Is overfunding a 529 plan enabling? #239250 Reply
    Liked by Lordosis
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016
    When you work part time, you do sorta get the short end of the stick

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    Word!

    Although it’s less of an issue when you’re FI and your BATNA is to turn in your ID badge….

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

    Agree to focus on rounding hours. Also add in CME hours and any committees or staff meetings.
    Does she qualify for other benies like disability, health?
    Not much leverage as a part time employee. Perhaps next contract renegotiate to 1099 status or get out of nursery and anything that doesnt pay.

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

    “50% drop or so the better, history says about Dow 14-15K. There may or may not be another 10-20 percent melt up”

    So…what you’re saying is that equities could go up or they could go down.

    That just might be right.

    Good grief

    in reply to: Debt Repayment Strategy #239051 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
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    Joined: 01/08/2016

    I have wonderful news! NP2B has secured a rotation in the health center associated with a public school system that is operated by PNPs. I am confident that in her six weeks there she will get the equivalent training of a three year pediatrics residency and will enter the job market on a nearly equal footing to compete with the practicing pediatricians in the community. Hooray!

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    thanks for the “guffaw”…I believe that’s the right word for what I just did.

    I actually injured myself today rolling my eyes after listening to a neuro NP spout unsolicited advice in the ER.  pediatrics, stroke neurology…such a waste on all that useless education!

    Avatar G 
    Participant
    Status: Physician, Small Business Owner
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    Joined: 01/08/2016
    So I even though we have almost enough saved on paper, I am wondering if I should over-fund the plans on purpose, for tax reasons, as personal investment and estate planning tool.

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    are we really doing her a service?

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    Does overfunding 529s make sense?  Or do the funds end up being “wasted”?

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    you actually asked several questions in the very first post. and many folks still don’t know what you were getting at….

    listen, if you can afford to put 30-40k/mo into taxable, I would just superfund each kid again before the end of the calendar year.  hopefully you will have enough left over to let that simmer along and transfer if you have the joy of grandbabies.  I mean, if your net worth is growing by 6-7 figures per year, I would personally be solidly in the category of your kids having no debt.

    again, my bias is to overfund.

    in reply to: Is overfunding a 529 plan enabling? #239020 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
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    Joined: 01/08/2016
    Earnest refinancing bonus
    although yes I was screaming about this carnage yesterday in my posts.

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    actually, you were predicting it last week.  carnage at the open.  you know, the day that the market opened up and ended up?

    give me a break.

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

    Very interesting, definitely learned something new and also refreshed about the Fourth Amendment.

    I’m all about an accurate census, but my inner libertarian balks at a governmental colonoscopy without sedation.

    Are there any questions on there where you can share your opinion about our government?

    in reply to: Census Survey, not political #238783 Reply
    Liked by Anne, RocDoc
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1728
    Joined: 01/08/2016

    Ugh, no advice but I feel for you. I would BBB and Yelp the heck put of them.

    My home gym is/was the best investment I ever made!

    Good luck.

    in reply to: Help! Collections notice from gym #238781 Reply
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