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  • Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1338
    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
    Posts: 1338
    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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    Status: Physician
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    Joined: 02/15/2016

    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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    Status: Physician
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    Joined: 02/15/2016

    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 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016

    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.

    Click to expand…

    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?

    Click to expand…

    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 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016

    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 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016

    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 
    Participant
    Status: Physician
    Posts: 1338
    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
    Avatar jhwkr542 
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    Joined: 02/15/2016

    The cheaper one.

    in reply to: Med school decision #20258 Reply
    Liked by hatton1, Josh0731
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016

    Personally, I’d go variable for both. The variable rates would have to go up quite a bit in a short period of time to lose money. I think it’s worth the risk.

    in reply to: Fixed vs. Variable rate student loans #20213 Reply
    Liked by Zaphod
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016

    Agree, I don’t pay too much attention to it.  Not really related, but I’ve survived so many predicted apocalypses/raptures in my life that I can probably survive some predicted low returns from the markets.  There will always be doom-and-gloom type people.  I ignore them.

    in reply to: Expected future returns. Worried? #20182 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
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    Joined: 02/15/2016

    I like the laddered CDs as well.  Your plans can change once you get into medical school and really get exposed to all the specialties (i.e. nobody ever goes into medical school planning on pathology, but that’s what happened to me).  Also, don’t take the maximum in loans allotted if you take out loans.  This was very important for me and it has saved me massive amounts of money.  LBYM and then see if you can cut back a little more 🙂

    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016
    Earnest refinancing bonus

    I’ll consider it if I find some useful information.  I’m guessing it’s for tax purposes, and someone a long time ago liked leasing cars.  Probably turned into lifestyle creep for everyone else.  I’m not knowledgeable enough on the tax code to quantify it, but I think that’s the idea.  I’ve thought about leasing a car for as many years and many miles as I can, parking it at the hospital, only driving it between hospitals, and commute with my clunker.  Then, none of that money would be taxable, and I could buy an essentially brand new car after the lease ends.  Brand new car for the price of a used one.  If someone personally did this, it would make no sense financially.

    in reply to: Car lease? #19645 Reply
    Liked by G
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016

    Thanks for the responses. I feel like I have to lease as well despite not really wanting to, so I’m glad others agree. I’ll see if I can convince the group to do away with this, but I doubt it. I’d rather buy a used car and pocket all the extra because I don’t value cars.

    This is one of the better practices in town, so avoiding this practice because of this benefit would be self destructive. Oh well, being forced to lease a new car probably won’t be as bad as it sounds.

    in reply to: Car lease? #19529 Reply
    Avatar jhwkr542 
    Participant
    Status: Physician
    Posts: 1338
    Joined: 02/15/2016

    Less OB call, perhaps? I don’t know all the OB/gyn practice setups but I know several colleagues hate the OB call.

    in reply to: OBGYN – Fellowship After Residency? #19460 Reply
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