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  • Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    I couldn’t agree any more with this sentiment. My group (private pathology) tries its best to network and be present on as many committees as possible within the hospital. We purposefully eat together in the doctor’s lounge to increase visibility. As a behind the scenes specialty, we find it imperative to do so to keep clients (physicians) happy and so they know the people to talk with about their lab tests or biopsies. I would imagine this applies to most other specialties, especially those that contract with hospitals (vs hospital employees).

    in reply to: Make an investment–in your relationships #23797 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    My main reason:  Many women when I rotated through OB/Gyn (and even my spouse and other women in my family) simply preferred a female OB/Gyn and requested for me to not be in the room.  Knowing this always made it awkward for me during the rotation because I had this underlying assumption that all women thought like this.  I could rationalize that this probably wasn’t true, but it didn’t make me feel any less uncomfortable.

    Plus (anecdotal story alert), as a med. student, our jobs were to round on all the c-section patients we had scrubbed in for from the previous day, and we had to remove the dressing from the incision site.  Most women would try to expose just the bandage between their blanket and hospital gown, but one young patient (20ish) was more than happy to completely expose herself for me to take off the bandage.  When I pulled off the tape, she giggled and told me “it tickled”.  Her boyfriend was sleeping in the corner of the room.

    Other contributing factors included lifestyle/call and fear of malpractice.

    in reply to: Why don\'t more males go into OB/GYN? #23667 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    Legally that is true, but I was talking assuming they would combine finances.  When I was engaged to my wife at the end of medical school, if I had told her, “technically, those loans aren’t mine so I won’t help pay them,” I would’ve been sleeping on the couch.

    Five years later, I consider our finances joint.  Whether OP plans on doing this isn’t stated.  If I had extra cash to pay off my wife’s loans now, I would because I look at it as our money we’re saving for FI/RE.  Putting some money towards a guaranteed 6.8% would be good use of our money.

    in reply to: Decreasing federal tax burden #23648 Reply
    Liked by Zaphod
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016
    Splash Refinancing Bonus

    She has a ton of student loan debt but despite all of my trying, she refuses to let me help out/pay her loans (it’s a pride thing)

    Click to expand…

    I hope you convince her that once you’re married, they’re as much her loans as they are your loans.  This is a really good place to put money after tax-advantaged space is used up.

    in reply to: Decreasing federal tax burden #23637 Reply
    Liked by Josh0731
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    For my wife and I, having kids was always part of our plan, so we’ve never come up with a financial plan without kids. It’s hard to know the numbers. I don’t think a mortgage would be much different because we’d probably live in a similar cost house but in a different location not in the suburbs. The saving for college would be gone but we’d probably roll it into vacations. I imagine we would actually save less and spend more each year. In this regard, it’s hard to put numbers on it because I bet we would spend more with nobody for an inheritance.

    in reply to: Cost of children, Part II #23480 Reply
    Liked by YSH
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    Agree with above about FI being more important than retiring early. I’m working hard to get to that point and then I’ll see what I want. Part time? No time? Work more to take yuuuge vacations? Work for social interaction? I do foresee work being more fun when financially i don’t have to do it.

    in reply to: Is retirement overrated? #23409 Reply
    Liked by Zaphod
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    My wife’s and my loans have been transferred more times than I’d care for.  Everything should be the same.  You’ll have to make a new login and likely restart your automatic monthly payment, which is annoying.  If the autopay had a discount with DRB, it should with MOHELA because those are the terms of the loans.  I do have 1 year of med. school loans with MOHELA, and I haven’t had many problems with them.  Also get the 0.25% reduction for autopay.

    in reply to: DRB is transferring my loan to MOHELA #22861 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    I would take the difference of your monthly aftertax pay when you get a paycheck or two and then add it to your current monthly loan payment to figure out your max monthly payment and get as close to that number as possible. This is essentially the definition of “live like a resident”. You may want to budget out big expenses (larger tax bill, vacation, backdoor roth, etc). I wouldn’t factor in bonuses because those are just lump sums where you wouldn’t be able to make that payment monthly. Just throw them at loans when you get them.

    in reply to: Determining Term When Refinancing Loans #22820 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    In my particular city and specialty, the academic docs make the most in the city. However, they work more with longer hours and less vacation and less control over their business.

    in reply to: Private practice versus academics #22758 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    I always find these numbers interesting but I’m sure there’s a wide variation even within the same socioeconomic classes. E.g. choosing between private vs public schools and colleges alone could potentially make a difference of $100k easily.

    in reply to: Costs of raising kids #22533 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    FWIW, my program had a group plan but I found better rates going through an agent listed on WCI with nearly identical benefits. About half price.

    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    Private radiology group

    1) Salary + Incentive (Shareholder dividend)

    2) Incentive is group production based

    3) Collection

    4) Pure equality in group income.

    Click to expand…

    Exact same model except for pathology

    in reply to: Compensation plan–how are you paid? #22253 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    My MOCA experience is on the list of future topics to write about.

    Sneak preview: The American Board of Anesthesia set up many hoops to jump through, including a $2100 computer exam that took me 100 minutes to take at a Sylvan Learning Center 2.5 hours away from my home, and a $1500 simulator course at a nearby center.

    Shortly after I took the exam, I was told it was no longer necessary. Now I get to do MOCA 2.0 also, instead of getting a 10-year break from test questions. It’s pretty incredible. Maybe I should take a stand, too.

    -PoF

     

     

    Click to expand…

    This going to test centers (many of which have financial/personnel ties with the boards) and being made to take the test like a criminal is absurd as well, thats fine for high schoolers or something serious I suppose…but for professionals who are basically just writing checks and are busy/cant cheat anyway? I just want some coffee to sip to break up the boring monotony of questions, its uncivilized and insulting.

    Click to expand…

    Are you implying all high schoolers are criminals? Probably need to lump in college and med students as well.  😀

    in reply to: MOC. A waste of money #22069 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    I think you should just run the numbers yourself and see what works out best.  Also, are you planning on paying down your mortgage aggressively after the student loans are gone?  Refinancing to a 15 year?  If you stick with the 30 year after loans are gone and pay off the mortgage in 30 years, I think you’d lose this way (admittedly haven’t done the number crunching).

    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1316
    Joined: 02/15/2016

    I’m not really one to chase the cash back cards.  I use mostly cards without annual fees:

    Discover Motiva (1% cashback, add 0.25% if you redeem in store gift cards which I do, usually buybuybaby for kids items)

    Banana Republic Credit Card (1% on everything, 5% at those stores, generally extra 20-30% savings when shopping there, $15 birthday gift, free shipping. I started this recently to replace my old wardrobe so will probably change after a while)

     

     

    in reply to: Cash Rewards Cards #21665 Reply
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