Yes this year is the year to get a 6000# vehicle if you are >50% of mileage as business mileage. You get the bonus depreciation of $8k that ends after 2024 +section 179. Lets you depreciate about 50k of the car in year 1 (at whatever % is business mileage).
My friend, it says it in the post you copied. Re-read.
No.
W2?
Desirable metro? ATL?
Yes. Salary + wRVU W2 position.
It is about an hour outside of a "desirable" metro but my family loves the area so we don't mind. Have made a lot of hospital friends and parent
Very nice. That's a heavy patient load but for that much money? Maybe I could suffer for a little while. I'm making 200k less to see 3-4 less people a day
Make what u can now and invest heavy. Future will be drones of nps under 1 md director model.
Sounds super chill unless you don't have that interdisciplinary support staff to really hold the kids in crisis and the parents who will want high levels of communication...
Since I'm here already I can say the the support staff is good. Restraints here are down significantly since they closed the ASD unit and staff is much happier. Parents can be a bit demanding but a lot of the more time intensive conversations are taken on by the therapists and addressed during family therapy sessions. We turf most of the difficult stuff to them since their caseload per week is like 6-8 kids.
Where I work NPs make 85% what I do and they do <<85% what I do.
I consider PTO factored into my regular wage, as I'm paid $265,000 base split up every 2 weeks whether I'm working or not.
Plan for the worst hope for the best. Build that nest egg asap by working damn hard now so that way if the future isn’t what you want you can opt out without stress. Maybe it’s the wrong outcome but no matter what you get the opportunity to take advantage of compounding growth early which gives your investments more time to grow. Then you have the freedom of choice
Total comp is going to include the employer share of those other insurances--as the cost share and quality of those insurances can vary--but that's hard to perfectly estimate. Additional employer funds into retirement accounts is also included.
what is the $/wrvu
54 straight and then 5 for quality metrics by department as a whole. Only did not reach metrics in 2020 I was told. I was not there for COVID. So basically 59. Have seen higher in my area but much worse work environment. So far, so good.
1.92 and add 90833 1.5 = 3.4 My primary folks call it a cheat code haha
Pro tip 90833 now worth 1.57 wRVUs as of 2024 all the therapy add on codes have had a bit of a bump and will increase further over the next few years
I feel similar on the inpatient side. Hospital medicine, ICU, cards, nephro, etc can cruise through patients. 5 minutes maybe face to face, mostly decide on management based on test results. Not that these are easy jobs, but they can get through patients much faster than a psychiatrist doing a good job. Therapy codes on inpatient make complete sense to me if the work is being done.
Is that $140k additional into retirement accounts plus a separate 50% pension at 27 years or are you referring to the same pot/payment/pension with those two 50% figures?
Just calculated using 10-11% return, which is the average return for the S&P500 in the past 40 yrs. It's a whooping ~6 mil.
The other thing is that I am not sure you can leave a pension to your spouse/kids/grandkids when you die. It's not worth it "losing" 50-70k/yr because you will have a pension after a number of working years.
How do you rationalize the fact MD pay is higher in states that have independent np practice rights?
This is such a bizarre way to look at housing costs for people who can afford it. So say Jbomba buys a 2mill house, it's not like that money just disappears. When he/she goes to move in the future, they have an asset that they can then sell. While all real estate has ups/downs, there has been a consistent and generally steady increase in the US for well north of a century. It's not like residential real estate in any HCoL areas are hurting as wealth creation continues to intensity in metro areas.
Usually you can pass it to your spouse depending on when you die but typically not children/grandchildren.
$925k in Los Angeles is equivalent to $380,468 in Little Rock, Arkansas according to bankrate.
Those CoL breakdowns are actually exactly what I'm pointing to, they just don't hold up at the higher salaries. Outside of state income tax, things like utilities/gasoline/grocery costs just do not scale at incomes of near 1 million year. They are a good approximation for people with average salaries but I would not rely on them at all for most doctors, particularly high earning ones. You would actually need to get some data on what your take home salary is and that add on the expected extra CoL.
Eh, in med school in the midwest I knew a couple psychiatrists in different groups making upper 6 figures or clearing 7 figures piecing various jobs together. I rotated with 2 of them. Per most of the groups that do physician income surveys pay is actually highest in the midwest and south and rural(ish) locums can make bank. People have posted FTE positions in the midwest clearing $500k on here. Cali pays better than some places, but from the stuff I get and have seen on here it's not really that different especially when you factor in CoL.
I think that's entirely reasonable to compare, but also who actually needs a 4-5k sq foot house (I say as someone who bought a 5k sq ft home for under 300k years back). Living in Cali you will need to compromise some things and you would never compare a Midwest doctor mansion to a normal house in Cali. There are other differences as well, like outdoor space is worth much more when you can use it virtually 365 days a year. 7 million will get you a 4-5k sq foot house on a cliff overlooking the ocean in Orange county that is immaculate. My partner's attending retired from his crazy job and built a palace for almost exactly 7 million in SoCal. If I ever meet anyone at a conference please ask for pictures, I assure you it looks nothing like my paltry million dollar house despite the sq footage being in the same ball park.
Definitely, we snuck in around 5% but were still too late to get the really low rates. One of my friends from residency built their new home around 2019 right before the lumber prices skyrocketed when rates were still around 3%. They've already almost doubled their investment on a house that's absolutely gorgeous. Helps having 2 physician income, especially when one is a private dermatologist.
I've posted my personal reasons in another thread, but in general family size can make a huge difference. I think a lot of us here either don't have kids or only have 1-2, but I have colleagues with 4-6 kids. 2,000 sq ft is fine for small families and those without children, but even the 4-5k sq ft home can seem small when there's 6-8 people living in it. I've spent most of my life including my whole childhood in the midwest, so being outside in the winter is still normal. I've lived in a coastal(ish) city in the south though, and I personally prefer seasons and especially fall/October weather. I won't argue that the weather in SoCal is definitely something worth a premium for most though.
