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  • Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Thanks for the replies.

    I already spoke to our realtor and she said we did not sign anything with her so it’s totally up to us if we feel we need/want her help.

    So what would be left?
    1. Inspection
    2. Finalizing mortgage – including appraisal?
    3. Closing

    Is that all?

    in reply to: Buyer’s Broker #219805 Reply
    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Okay got it.

    So I don’t need to do anything with Part III of Form 8889 for my 2018 returns correct?  Just need to remove my excess 2019 contributions and then complete part III on Form 8889 for my 2019 returns where I report 10/12 * 6900 = $5,750 as taxable income for 2019 and pay a 10% ($575) penalty in 2019?

     

    I would then get the deduction for the full $6,900 contribution on my 2018 return?

     

    in reply to: Uh Oh – Overfunded HSA #198352 Reply
    Liked by ENT Doc
    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Is this true even if I haven’t yet filed my 2018 taxes?

    in reply to: Uh Oh – Overfunded HSA #198318 Reply
    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Thanks!

    In reading the document, it says this:

    “You may withdraw some or all of the excess contribu- tions and avoid paying the excise tax on the amount with- drawn if you meet the following conditions.
    If you are no longer an eligible individual, you can TIP still receive tax-free distributions to pay or reim-
    • You withdraw the excess contributions by the due date, including extensions, of your tax return for the year the contributions were made.
    • You withdraw any income earned on the withdrawn contributions and include the earnings in “Other in- come” on your tax return for the year you withdraw the contributions and earnings.”

    To me that seems to say that if I remove my excess contribution 10/12 * $6,900 = $5,750 and then also report 10/12 of the gains from its investment that I should avoid any penalty. Am I reading that correctly?

    in reply to: Uh Oh – Overfunded HSA #198314 Reply
    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Ah ok

    Thanks for the info!!

    in reply to: Capital Gains/Losses Question #188085 Reply
    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Awesome. Thanks for all the tips. It’s a W2 job but at a small private practice (currently 2 physicians) that hasn’t had a new employee in over 5 years. I would think then most things should be negotiable (except 401k rules and probably group disability if they don’t already have a policy).

    in reply to: W2 Employee Benefits #186803 Reply
    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Figure 280k will balloon to 400k by the time residency is done.

    I imagine this is more of a question of your spending and how long you want to work for. If you are able to live well below your means in a reasonable COL area and will work into your mid-60s I would think this is doable. The other option would be PSLF for your loans as well if you go the academic route.

    Still would need to live well below your means to catch up with regard to retirement savings if the goal is to not end up like your parents.

    Avatar orthodoc2018 
    Participant
    Status: Physician
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    Joined: 07/18/2018

    Why avoid zero funds for now? Too short of a track record?

    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    How about FSSNX?

    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018
    Earnest refinancing bonus

    Have you thought about critical care?

    I feel like an intensivist would also fit what you’re looking for.

    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    Wait a second, I didn’t realize they could get me DOUBLE market returns!

    That may actually be worth 2%!

    in reply to: Fidelity Bond Fund #180630 Reply
    Liked by rmecc001
    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    I would prioritize contributing to Roth IRA (wish I had during residency!). As far as student loans is concerned, you’re probably best off just doing REPAYE and taking the subsidy on unpaid interest. You’ll probably end up with a lower effective interest rate than why Earnest is offering.

    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 80
    Joined: 07/18/2018

    I’m inclined to ignore pretty much everything you’ve written.  You’re example is to suggest that a financial advisor’s cherry-picked stock portfolio so dramatically outperformed the market during the 2008 decline and that you think you can guarantee that for the long run?

    I may be a newbie but needless to say, my BS meter is lighting up like crazy.

    I’ll stick with FXNAX for my bond allocation…

    in reply to: Fidelity Bond Fund #180486 Reply
    Liked by ZZZ, Peds, jacoavlu
    Avatar orthodoc2018 
    Participant
    Status: Physician
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    Joined: 07/18/2018

    No access to employer 401k yet as a new employee so this for within my and my wife’s 401k as well as our HSA. Have fully funded for 2019 and have a total of about 50k between all accounts now so am trying to use this years contribution to balance to an allocation of 50% US stock, 30% Intl Stock, 20% bond.

    FXNAX looks like the one for me

    in reply to: Fidelity Bond Fund #180394 Reply
    Avatar orthodoc2018 
    Participant
    Status: Physician
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    Joined: 07/18/2018

    That’s what I figured – they I’m sure are not in the interest of giving away money.

    On the other hand though, it seems like the code is written such that it applies to people seeking employment as well?

    in reply to: Child and Dependent Care Credit #174722 Reply
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