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  • Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    I have a small Betterment account (taxable, 67:33), about $95k, but the bulk of investments are at Fidelity and Vanguard.

    Pros:

    Easy to set up and rarely look at

    Very user friendly app, much more intuitive than the brokerage apps

    Very diversified portfolio

    TLH is automatic

    Cons:

    Limited options

    Standard portfolio is small/value tilted, and the equity sleeve would have underperformed the overall market over the last 10+ years. You have to really want to be small/value tilted and believe in the outperformance over time.

    Too diversified (do I really want/need international bonds? Emerging market bonds?)

    TLH is overrated

    0.25% per year fee

    LOOONNGGG 1099 form at tax time, from all the TLHing but they provide usable summaries which accountants are familiar with and use.

    If I were you, I would try both for a year or two, and see which you prefer. You might find that investing on your own at Vanguard (or Fidelity, Schwab, etc.) is not much work, you can easily set up automatic investments (the precise investments that you want for your allocation), and check in once a year for an hour to rebalance.

     

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Can Betterment be the answer for lazy investing? #223209 Reply
    Liked by Tim
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016
    Hey, @WCI, Do we need a car subform? The top 3 posts are “which car should I buy?” posts. Maybe you could even sell some auto company ads or develop an affiliate relationship with BMW or Tesla. 😉 

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    Great minds think alike. 😊

    When I saw the other “which car should I buy” I thought of the same thing. It has gone from “car as a financial decision forum” to “car as a car” forum.

    Not that I mind it. Better than how do I get out of this Universal life insurance policy threads.

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    I will take it a step further. I think that @WCI would be an excellent spokesperson for the Toyota Sequoia. Tall, handsome, athletic ER doc taking his beautiful family on exciting mountain adventures in the Sequoia. If I saw that ad, I would buy one immediately, maybe two!

    (I am serious about the first part, not about buying two Sequioas 😉 )

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Tesla model 3 or Audi a5? #223022 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    you just need a wall outlet like for your dryer or oven called NEMA 14-50. Electrician should be able to install this I would guess for a couple hundred dollars at most, which most of that cost is just for the labor because the materials would be cheap. I

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    I have held off buying a Tesla until now because the I did not have a convenient charging area in the garage.

    Now I am building a house and will have a 240 outlet on either side of the garage. Is there a special outlet shape for the NEMA 14-50 or are they all a standard receptacle.

    In addition to that is there a special wire + plug that hook up from the outlet to Tesla. Does it come with the car or do I buy it as an extra. How much does it cost?. Is it something you keep one in the office and one at home in case you want to charge at either location or do you have just one and carry it within the vehicle?.

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    I have a lowly Leaf, and the outlet is universal. The charging cable came with the car. I leave it in my detached garage.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Tesla model 3 or Audi a5? #223018 Reply
    Liked by Zaphod, Kamban
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    Hey, @WCI,

    Do we need a car subform? The top 3 posts are “which car should I buy?” posts. Maybe you could even sell some auto company ads or develop an affiliate relationship with BMW or Tesla. 😉

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Tesla model 3 or Audi a5? #222997 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016
    I always felt a sense of buyers remorse after buying a new car, but I’ve never once regretted spending money on travel.

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    I am going to save that one!

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Need + Reward: Another Car Thread #222996 Reply
    Liked by hatton1
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    I know you are not looking for other recommendations, but the Volvo XC40 looks pretty cool and is in that size range. At this point I would buy what you want, but maybe a couple years old if it is a significant savings vs new.

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    We have our second Volvo. It is an XC60, my wife’s car and her choice and replaced an Acura MDX that she drove for 10 years. While the Volvo drives well enough, it has all of the panache of a Chevy Lumina, with the repair costs of a BMW. If I had to do it again, I would have steered her to the Acura RDX, the last car on the list to be eliminated. Nothing screams “safe mom” louder than a Volvo XC, so if that is your vibe…

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Need + Reward: Another Car Thread #222962 Reply
    Liked by mapplebum
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    This is a great article. I have followed Dr. Ofri’s work for years, and she hit it out of the park with this one. I strongly suggest reading the comments, too. There are some great pearls in that section including some admin types who own up to the premise of the piece.

    I believe the article will impact future negotiations between physicians and the administrative side, too. We have all read the article (docs AND the dark side alike), and the next time one of our colleagues feel like he or she is getting the short end, the topic of exploitation should naturally roll off the tongue (immediately followed by that obnoxious graph showing the growth of admins over the years).

    As for the issue of burnout, it is far too textured to be simply solved by getting admins off of our backs, but anything that gives us more control and less interference will stack the chips in our favor.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Burnout #222858 Reply
    Liked by ZZZ, snowcanyon
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    4. I truly hope this absence is not because of illness or other serious real life problems.  If so I just want to offer my well wishings.

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    I enjoyed his blog, too.  Unfortunately my (limited) experience has been that when someone deleted a blog completely (as opposed to a deleting a single post, or simply no longer posting to it), it’s usually a sign of trouble (often of the legal kind).

    I sincerely hope I am wrong!

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    I was thinking that, too, or perhaps his employer or Hospital took exception to some of the content. Like I said, I hope he is well and would love to see him back blogging, or at the very least, here on the forum or on Twitter.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Paging Dr. Side Hustle Scrubs! #222617 Reply
    Liked by Zaphod, G, wonka31, Lordosis
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    i remain convinced that if you are working for a university and you’re not someone who is going to be doing weird stuff a contract isn’t that big of a deal.

    they are usually forms where your name is just written in. room for negotiation if you are a hospitalist, anesth, ER doc seems minimal to non-existent.

    in 11 years in academics i have never heard of a major contract dispute, especially not for a hospital-based specialty. if you want to leave you leave, if they want you gone they’re going to find a way to do it no matter what is in your contract.

    maybe i should be more paranoid about this but i’m just not. would feel very differently about joining a small democratic group or a practice that owned a building or something like that.

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    I hear what you are saying but the range of non competes is so huge that it’s difficult to know what to worry about.

    Let’s say that you can be fired without cause but there is a two year non compete that is still in force.  Let’s say the specialty is such that you have to relocate your family because the non compete prohibits you from working in a 25 mile radius of any hospital owned by the larger corporate parent.  Is that something to be worried about?

    agree that if the system wants you gone, you will be gone.  And better to go with a voluntary separation than have to write that you were fired.  Better to go without them collecting evidence supporting a firing.

     

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    that’s fair but i doubt NC clauses are enforced much on hospitalists, ER docs, anesthesiologists etc.

    i could be wrong on this just haven’t seen too much to make me worried.

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    Interestingly (and surprisingly), one of the universities in town has a non-compete for their radiologists for a 10-mile radius, for one year. That is highly unusual as radiologists (especially non-IR rads) generally do not have their own patients and referrals and the ability to easily take them if they leave, which would be the major justification for having a non-compete. In fact, it seems mostly punitive.

    I am not sure if that non-compete is enforceable, but I do know of a couple of rads who bent over backwards in their next jobs, by working at far-flung satellites or picking one year jobs outside the non-compete radius before returning to a closer job.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Offer letter vs Contract #222412 Reply
    Liked by MPMD
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    Yes, I miss @SHS, too.

    Very funny and thoughtful guy. I hope he is well.

    He does not need a blog to continue to interact here, on Twitter, or elsewhere in the blogosphere. Believe me, I know!

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Paging Dr. Side Hustle Scrubs! #222345 Reply
    Liked by hatton1, Lordosis
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    I do not include my paid off home in my asset allocation. If I did, it would be about 10%, +/- 3%.

    I do consider it mentally in the context of SHTF scenarios, something that is totally devastating and black swanesque, but in most scenarios, I gotta live somewhere, and if it is not the current home, it will be another one of similar value. Sadly, most of the people that I know who have “downsized” after the kids left the nest have “downsized” into living quarters that were:

    1. Equally or more expensive than their previous home.

    2. Equal in size or larger than their previous home.

    3. Added a second home to their home portfolio.

    4. Some combination of the above that fails to unlock the equity in their homes for retirement or other purposes.

    While I once thought it likely that I would downsize into less expensive housing someday (soon), I have come to grips with the reality that I will not be the rare person of means to actually do that.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Asset Allocation of Whole Net Worth #222344 Reply
    Liked by docnews, Kamban
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    I’m hoping this gets locked up before any hard feelings develop. May be too late for that.

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    But not before I get my two cents in!

    @panscan, there was a time when I was young and very protective of my turf and felt that my turf was everything that involved X-ray, fluoro, ultrasound, CT, MRI, etc. Over time, I learned that it was more valuable to build relationships with my referring colleagues who were also my competition for imaging services, than it was to struggles against them. I have found that there is plenty of work to go around, and my OB/GYN colleagues are very competent at OB/GYN ultrasound (sometimes more able than me), my orthopedic colleagues are very competent in MSK imaging (usually more able than me), etc.

    Instead, I work at perfecting my own craft, and being as good as I can be when I am called upon. Throughout my career, I have had more imaging and procedural work than I have needed or wanted much of the time. You will experience the same.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    I think your allocation is reasonable.

    Make sure you keep REITs in retirement accounts, and International is preferred to be be taxable. If you are placing bonds in the taxation account, make them municipal bonds.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: Taking back the reigns… #221492 Reply
    Liked by MVrays08
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    The Wilderness Medical Society offers some fun adventures in the U.S. and abroad, and if you have CME money to spend…

     

    http://m.wms.org/

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: One week adventure vacation – solo trip #220793 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3245
    Joined: 01/21/2016

    Do you want to go on a planned trip/tour with a group or completely solo?

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    in reply to: One week adventure vacation – solo trip #220748 Reply
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