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  • Avatar Roentgen 
    Participant
    Status: Physician
    Posts: 73
    Joined: 03/02/2018

    “I have read of the very wealthy superfunding 529 plans (even in multiple states) as a way to transfer wealth and also achieve tax protected growth.  I have also heard of 529 plans being used as a tax deferred wealth accumulation vehicle, if the 529 owner will be in a much lower tax bracket in retirement (to overcome the 10% penalty).  Does Mr. Kitces see any changes coming to 529 plans, perhaps due to unintended planning practices around their use, or because they will come to be seen as a benefit only for ‘the wealthy?’ “

    in reply to: Bringing Michael Kitces on the Podcast #239955 Reply
    Avatar Roentgen 
    Participant
    Status: Physician
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    Joined: 03/02/2018

    Another vote for diagnostic radiology (not interventional radiology.)  Also, Nuclear Medicine which is a residency that can be entered into from Internal Medicine OR Radiology, and is 18% diagnostic, and totally 9-5 job.  Rad Onc is a great suggestion too.

    Avatar Roentgen 
    Participant
    Status: Physician
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    Joined: 03/02/2018

    There was a recent thread over on the bogleheads forum about what real rates people use for their planning that got me thinking about whether my assumption for my planning is reasonable. What real rate do you use (or would you suggest) with the following assumptions: an 80/20 or 75/25 portfolio and investing for 25-30 years (i.e. for someone now in their early 30s).

    I was surprised to see that most folks over on the other thread were saying they would use a 1% to 2.5% real rate, with a few outliers saying they use 3% to 4.5% (and maybe one person saying they’d use 5%+). There were lots of cautions to not use anything too optimistic, which seems to them to be anything more than 1.5% or 2.0%.

    Does that seem right to you? What do you use? If a real rate of 2.0% to 2.5% or so really is realistic, it seems pretty challenging for most people (including a lot of medium- and high-income earners) to comfortably get to a point where they can retire with $100k or $120k per year coming from their investments (using a 4% or 3% rule for the required size of a portfolio at retirement), particularly if they want to do it before age 60 or so.

    Thoughts?

    Click to expand…

    For US stocks: The dividend yield plus the LT real growth rate of earnings (1.25% according to Siegel, and about 1.5% according to Arnott, and about 1.55% from Shiller’s spreadsheet IIRC) minus a haircut for a fall in valuation. That is, I apply a PE10 of 15 to 20 at my horizon of interest. That change (i.e., decline) in valuation is very important over short horizons, but less so over long horizons.

    For bonds: The real yield on TIPS.

    Click to expand…

    Sounds like you are an acolyte of William Bernstein’s work.  My assumptions are basically the same.

    in reply to: What is a reasonable real rate of return? #235833 Reply
    Avatar Roentgen 
    Participant
    Status: Physician
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    Joined: 03/02/2018

    I say “I’m Firstname Lastname, one of the radiology doctors who work here.”  Both personal and also links the fact that radiologists are doctors.

    in reply to: How to address NPs and PAs in letters #234900 Reply
    Liked by ENT Doc
    Avatar Roentgen 
    Participant
    Status: Physician
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    Joined: 03/02/2018

    Not sure what Portlandia is referring to, but the Pension Benefit Guarantee Corporation is specifically meant to address the risk of individual pensions failing.

    in reply to: The Retirement “Reform” Continues #234655 Reply
    Avatar Roentgen 
    Participant
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    Joined: 03/02/2018

    We had a primary care clinician in our system with a DNP (Doctor of Nurse Practitioner) degree.  He requests to be addressed as “Dr.” Smith. That’s a mind bender for me.

    in reply to: How to address NPs and PAs in letters #233733 Reply
    Avatar Roentgen 
    Participant
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    alpha investing

    My sister asked me to review the investments her WF “advisor” put her retirement money in.  I ran into the same issue – I couldn’t do it – there is no available data on the funds they were using for her.  I gave it back to her and said that WF as a company has a track record of institutionalized abuse of their clients and that this whole things makes me deeply suspicious.  Would love to hear if anyone else found a solution to this problem?

    in reply to: How to evaluate funds without a ticker symbol? #232806 Reply
    Avatar Roentgen 
    Participant
    Status: Physician
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    Joined: 03/02/2018

    If anyone wants a fun read or TV viewing experience that is set in human civilization after the colonization of the moon, Mars, asteroid belt, and much of the Solar system, consider reading “The Expanse” series of sci-fi books or watch the 3 (soon to be 4) seasons of The Expanse on TV (was on Sci-Fi network, switching to Amazon network this fall.) I prefer the books, they get into the science and practical realities of such a world in a much more scientifically accurate way.

    in reply to: Tonight is Apollo 11 night #232223 Reply
    Avatar Roentgen 
    Participant
    Status: Physician
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    Congratulations to you and your wife!  If you have read the books you describe, found this website (and this forum in particular), and really paid attention to what they contain then you are in a fabulous position, already wiser than 95% of your fellow medical professionals. Now you need to act on those principles and use your resources to meet the goals you and your spouse decide are important!

    However, its impossible for any of us to comment intelligently on your post unless you list out your debts, as well as the expected amount and nature of the “lucrative buy-in opportunity.”  The specific amounts matter greatly, as well as the form; student loans, car loans, home mortgage(s) with terms (15 vs 30 year, rate of interest, amount of equity so far in home). But if you list that you will likely get a really good analysis of your situation from forum members, who like to help folks just like you.  You already listed the income as $1 million, so that helps us understand the inflow part of the equation, but now we need to know the balance sheet.

    These forums are anonymous, so you shouldn’t have to worry about privacy/being identified.

    in reply to: High income early in career #229310 Reply
    Liked by SLC OB, Infinity
    Avatar Roentgen 
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    Paper based here.  Nothing like doing it by hand to know you haven’t messed something up.  But not the quickest way.

    Avatar Roentgen 
    Participant
    Status: Physician
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    Joined: 03/02/2018

    I still have no idea what about social work requires a masters. Not hating on social work at all, I just don’t understand how more school would make you good at it

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    Its because a BSW can take a lot of jobs, but in order to be licensed to work in more intensive environments like ICU social work, maybe transplant/organ harvest services, and ESPECIALLY to be a licensed independent counselor (which social workers do in private practice) then you need a Masters.  Which makes sense – you don’t want someone out there hanging out a private practice shingle and doing adolescent counciling or family counseling or whatever with only a Bachelor’s level of training. The Masters includes a more of the family counseling type stuff or exposure to those more intensive environments like ICU, all of which requires more training.

    in reply to: graduate school debt nytimes article #219646 Reply
    Liked by EndoRobert
    Avatar Roentgen 
    Participant
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    Increase you W4 tax withholdings. Let him keep more of the salary he earns, in an offsetting amount. The net result is the same, but when this happened in our life, and she saw how small her paychecks were, it was disheartening. After I added extra taxes to mine, and her take home grew by reducing withholding, she seemed to feel better, even though money is fungible and it had no net effect.

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    Isn’t that like robbing Peter to pay Paul?

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    I’d say its a nice application of behavioral finance.

    in reply to: Making sense of spouse income #216531 Reply
    Liked by Craigy
    Avatar Roentgen 
    Participant
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    Joined: 03/02/2018
    medical school scholarship sponsor

    The Boards have the influence/power that we allow them to have.  As long as we go along with it, we permit them to do as they wish.  That’s why the lawsuits are so scary for the Boards – a part of society not made up of compliant physicians is going to look at them and perhaps pronounce judgement adverse to their interests.  And we all know they can’t stand up to any scrutiny.

    Any time I hear people saying “The Boards are so powerful” I’m reminded of the following exchange, which seems apropos.

    __________________________________________

    “Oh, I think not,” Varys said, swirling the wine in his cup. “Power is a curious thing, my lord. Perchance you have considered the riddle I posed you that day in the inn?”

    “It has crossed my mind a time or two,” Tyrion admitted. “The king, the priest, the rich man—who lives and who dies? Who will the swordsman obey? It’s a riddle without an answer, or rather, too many answers. All depends on the man with the sword.”

    “And yet he is no one,” Varys said. “He has neither crown nor gold nor favor of the gods, only a piece of pointed steel.”

    “That piece of steel is the power of life and death.”

    “Just so… yet if it is the swordsmen who rule us in truth, why do we pretend our kings hold the power? Why should a strong man with a sword ever obey a child king like Joffrey, or a wine-sodden oaf like his father?”

    “Because these child kings and drunken oafs can call other strong men, with other swords.”

    “Then these other swordsmen have the true power. Or do they?” Varys smiled. “Some say knowledge is power. Some tell us that all power comes from the gods. Others say it derives from law. Yet that day on the steps of Baelor’s Sept, our godly High Septon and the lawful Queen Regent and your ever-so-knowledgeable servant were as powerless as any cobbler or cooper in the crowd. Who truly killed Eddard Stark, do you think? Joffrey, who gave the command? Ser Ilyn Payne, who swung the sword? Or… another?”

    Tyrion cocked his head sideways. “Did you mean to answer your damned riddle, or only to make my head ache worse?”

    Varys smiled. “Here, then. Power resides where men believe it resides. No more and no less.”

    “So power is a mummer’s trick?”

    “A shadow on the wall,” Varys murmured, “yet shadows can kill. And ofttimes a very small man can cast a very large shadow.”

    Tyrion smiled. “Lord Varys, I am growing strangely fond of you. I may kill you yet, but I think I’d feel sad about it.”

    “I will take that as high praise.”

    George R.R. Martin, A Clash of Kings

    in reply to: MOC class action #216428 Reply
    Liked by BCBiker, Zaphod
    Avatar Roentgen 
    Participant
    Status: Physician
    Posts: 73
    Joined: 03/02/2018

    Two days is probably a little quick in deciding for and against various specialties.

    Click to expand…

    Uh, I knew I was Radiology within 2-5 days of a med student clerkship.  Sometimes you just know what you like and are good at (or that everything else sucks.)

    in reply to: Urology salary? Actively declining? #216382 Reply
    Avatar Roentgen 
    Participant
    Status: Physician
    Posts: 73
    Joined: 03/02/2018

    Consider Interventional Radiology.

    in reply to: Best surgical lifestyle? #215751 Reply
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