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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.
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.
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?
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.
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 I agree that it’s a matter of time before they’re repealed since the state is hemorrhaging money, but it may take an election or two.
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.
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.
I’m going to assume you’ve never had to interpret a lymph node biopsy
The cheaper one.
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.
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.
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 🙂May 4, 2016 at 11:13 am MST in reply to: 24 years old, have 170k in savings, about to begin medical school #19650
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.
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.