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  • Avatar jhwkr542 
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    Status: Physician
    Posts: 1330
    Joined: 02/15/2016
    in reply to: HDHP as a secondary insurance for stealth IRA? #21581 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1330
    Joined: 02/15/2016

    Chrome on phone or PC. Initially had problems with main site using only chrome but no issues now

    in reply to: How is the site speed? #21580 Reply
    Avatar jhwkr542 
    Participant
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    Joined: 02/15/2016

    For me, I don’t think it makes sense to buy a$300k house to buy a bigger$5-600k house in 5 years. That’s around the break even point on a house, so I think either rent for a few years or just buy the big house now with a big down payment and grow into it. The only advantage a starter house gives you is an idea of what you really want in a house but financially I don’t think it makes sense.

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    Thanks that’s what we are concerned about too, whether we would break even when we sell the house. It’s hopefully better than renting though, since the monthly payment would be what I am paying for rent now.

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    It ultimately will come do to your preference.  That break even point is generally thought to be around 5 years as Johanna alluded to.  However, I’m sure this calculation is highly dependent on many variables (closing costs, housing market going up/down, ability to sell in 5 years, maintenance, utilities, etc).

    To give you my experience, my wife and I bought a house for $250k 5 years ago at the start of residency, thinking we’d work in the same area afterwards (fortunately worked out).  This was at rock bottom of the housing market and very much a buyer’s market.  Now, we’re going to be looking for a house in the $500-600k range.  We’ll end up selling our current house for around $300k (in today’s market), so this seems like a good profit but comes closer to a wash sale after paying realtor fees, maintenance (furnace/AC just went out  🙁 ), and upgrades needed to sell it again.  However, let’s say you buy a big house and don’t have kids, then that empty space looks really lonely.  Tons of moving variables, so I think you’ll have to decide what you want because you know all of the variables and your preferences most.  Financially, like the others have said, you’re in a good situation, so go with what you want to do.

    in reply to: Home purchase question #21551 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1330
    Joined: 02/15/2016

    For me, I don’t think it makes sense to buy a$300k house to buy a bigger$5-600k house in 5 years. That’s around the break even point on a house, so I think either rent for a few years or just buy the big house now with a big down payment and grow into it. The only advantage a starter house gives you is an idea of what you really want in a house but financially I don’t think it makes sense.

    in reply to: Home purchase question #21508 Reply
    Avatar jhwkr542 
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    Joined: 02/15/2016

    FWIW, I don’t see any better way or any negative implications.

    in reply to: Grandparents' 529 gift #21448 Reply
    Avatar jhwkr542 
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    Joined: 02/15/2016

    This was my experience as well. Interest rates too high for a doctor’s loan to make it worthwhile

    Avatar jhwkr542 
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    I think the most important step for people like this is just the basics. Where is the money going? Track your spending for a month or two and figure out what can be cut easiest. Sometimes, I doubt people know where all the money even went. If they’re eating out a lot, having a food budget may save a few hundred a month. Do they hire people to do the yardwork? Housecleaning? Wash the car? All this can be done easiest if you see where every dollar went. Using mint or other like programs will help. The original question writer is the only one to know the details.

    in reply to: Living Paycheck to Paycheck on $300K #21039 Reply
    Avatar jhwkr542 
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    Status: Physician
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    Joined: 02/15/2016

    I’m in a similar situation as I finish up fellowship. I’ve chosen B since most doctor’s loans have high interest rates. We’re waiting 2 years to save up since our house only went up about $40k during residency.

    For us, the rush is to have our oldest start school in a nicer school district, which starts in 2 years. Then, it’ll be throwing money at student loans for a few years.

    in reply to: Save, Spend on House, Invest, Pay off Loans? #20889 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
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    Joined: 02/15/2016

    I’ve always liked the idea of getting a set number of days off for everything. I don’t understand people using sick days for vacation. Especially during residency when someone had to cover for them. Not someone I want to work with when they’re looking out for #1.

    Re: OP, I agree that I wouldn’t cancel surgeries for “sick” days. It may be routine for you, but having surgery is a big event for most people’s lives. Not something I would want my surgeon cancelling just to avoid losing a sick day.

    in reply to: sick time as employed doc #20692 Reply
    Avatar jhwkr542 
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    Pathology
    Yearly fee: $50
    Exam: $700 every 10 years

    There used to be an additional hidden cost of traveling to Tampa to use their slides and scopes but not anymore if you have a webcam. I wonder what they’d do if you took it at home in your underwear?

    in reply to: MOC. A waste of money #20626 Reply
    Avatar jhwkr542 
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    What I’ve never understood is the people who are grandfathered in for not having to recertify. For pathology, anyone boarded prior to circa 2001 are grandfathered. But that 60 year old pathologist who hasn’t kept up to date with anything for the last 20 years is immune but the person who did residency 5 years ago must. This fact alone argues strongly in favor of a money grab where it’s a bunch of old timers forcing recent graduates to pay. If they did it to emphasize quality, everyone would have to do it and they’d do it differently.

    in reply to: MOC. A waste of money #20584 Reply
    Avatar jhwkr542 
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    If you’re in ks, then LLCs don’t pay state income taxes. It’s a controversial tax break that’s bankrupted the state but caused many people to organize as such.

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    The OP is in NY, but I’m glad you posted that. Same for distributions (but not salaries) from s-corps, sole proprietors, and partnerships. Since it has been effect only sine 1/1/13, I doubt it has had time to “bankrupt” the state, but that is sure some tax loophole. Wonder how long before it is deep-sixed?

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    Bankrupt, no, but the cuts are happening.  There’s been budget shortfalls every year since implementation, and medicaid, higher education, and roads/transportation have all been cut already.  I agree that it’s a matter of time before they’re repealed since the state is hemorrhaging money, but it may take an election or two.

    in reply to: Does a PLLC offer any advantages to an MD? #20471 Reply
    Avatar jhwkr542 
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    If you’re in ks, then LLCs don’t pay state income taxes. It’s a controversial tax break that’s bankrupted the state but caused many people to organize as such.

    in reply to: Does a PLLC offer any advantages to an MD? #20456 Reply
    Avatar jhwkr542 
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    It is, but at some point the patterns become increasingly complex.  And someone still has to assure quality of the technology. How would you like a computer diagnosing you with cancer without some physician oversight?  Eg, the standard of care is to use software to grade and score breast prognostic markers, but you probably wouldn’t want joe from IT making sure it’s accurate 😀 . You (and probably most physicians) would probably be amazed at how frequently lab equipment and analyzers break down/fall out of QC. Quality assurance can’t be done without someone knowledgable of what the right answer should be.

    in reply to: CMS reveals plans for changing physicians pay #20304 Reply
    Avatar jhwkr542 
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    Joined: 02/15/2016

    I’m going to assume you’ve never had to interpret a lymph node biopsy

    in reply to: CMS reveals plans for changing physicians pay #20299 Reply
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