"Demographics and Strategic Planning for Anesthesia: Tsunami Approaching"

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There is a difference between a consumption item and an investment. A house certainly can be a perfectly fine of the former. But often a crappy one of the latter.

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There is a difference between a consumption item and an investment. A house certainly can be a perfectly fine of the former. But often a crappy one of the latter.

Electricity bills can easily get up to $500/month during winter months in north and easily $500/month in the south during summer months

I can easily save $150 by keeping thermostats at 55 degrees in winter months like I did in Maryland when I lived there. Same with keeping thermostat at 82 degrees in summer months in Florida now.

In a sense. Someone who likes the temp 72 degrees will be "losing" 20% on their money immediately vs someone as me.

Hope people realize I'm being sarcastic. Cause my point is you cannot put a value on comfort.

If I'm renting a house. I'm at the mercy of the landlord. People fail to factor in moving costs. Landlord kicks you out or rents increase 5-10% (which it has in many areas). Moving costs for a 3000-4000 square foot home locally can be $2000-3000. For long range move can easily be $8000-10000.

So the renting vs home ownership has way too many variables to factor in. If it's a new home (or newer 3-5 years old) with zero lot than ur upkeep is essentially $0 or close to $0. But if it's a older home count on upkeep to be more expensive.
 
Also I keep the house at 82 degrees in the Florida heat so cooling ur house is a bad investment. U are just wasting electricity. You will never get back ur investment on electricity..

You can always "invest" in a Tesla solar roof;)
 
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You can always "invest" in a Tesla solar roof;)
Yeah. It will cost me between $100-150k for a telsa solar roof. Crazy.

But getting back to housing. Renting is the short term answer financially. But too many variables for home ownership.

And I bet 90% of us on SDN are guys. We fail to get input from the women. Women want homes. They want to decorate.

Speaking of women. Them and kids are bad investment as well (according to divorce dads!)
 
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Yeah. It will cost me between $100-150k for a telsa solar roof. Crazy.

But getting back to housing. Renting is the short term answer financially. But too many variables for home ownership.

And I bet 90% of us on SDN are guys. We fail to get input from the women. Women want homes. They want to decorate.

Speaking of women. Them and kids are bad investment as well (according to divorce dads!)

But good consumption items?
 
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If it floats, flies, or f*cks, just rent it.
 
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People have realized that security is a no longer an attainable goal. Historically people would take less and work harder in the belief that they were buying stability and security. Word is out that it is an illusion. The only thing left is your hourly rate and working conditions. They go to south...bye


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Interesting this thread turned to this topic...hoping for some advice. Moving back home with wife and kid. Would love to not buy right away just to make sure job is ok. Wife has a good job back home that she has had for a long time. She wants to buy. No way I will be able to convince her to rent more than 1 year. So it's buy now or in a year. Tempting because of the talk of mortgage interest rates going up. Would like to know if I'm looking at this correctly and what you guys might do.

Buy vs Rent:

Scenario: 550k, 55k down, 3.8ish% interest, 30yr fixed, closing costs are covered (company thing)...monthly is around 2350. Interest per month is around 1550/month that first year. Tax is around 800. So interest plus tax is around 2350/month. Which is the waste right? So compare that to what I'd get for 2350/month? Unless I write this off on taxes? Compared to our usual standard deduction like 12k I think it is? So 2350 (the tax plus interest) X 12 months X 39% (our marginal federal bracket) gives me about 11k tax saving if I buy a home vs rent. So 11k saving on the year comes to like 900 per month saving. 2350 (the waste of tax and interest) - the 900 savings = 1450. Rental market at 1450/month is horrible compared to what you get for a 550k home where we are moving. I've obviously never done this before so I'm positive I'm making mistakes and bad assumptions. Pleas tell me where my logic is flawed and what you might do in this scenario. Thanks!
 
I'm not a guru but on a house that is mod-priced such as 500 why do a 30 yr mortgage? How many of you guys agree with me? I think 15-yr is the way to go most of the time.
 
Interesting this thread turned to this topic...hoping for some advice. Moving back home with wife and kid. Would love to not buy right away just to make sure job is ok. Wife has a good job back home that she has had for a long time. She wants to buy. No way I will be able to convince her to rent more than 1 year. So it's buy now or in a year. Tempting because of the talk of mortgage interest rates going up. Would like to know if I'm looking at this correctly and what you guys might do.

Buy vs Rent:

Scenario: 550k, 55k down, 3.8ish% interest, 30yr fixed, closing costs are covered (company thing)...monthly is around 2350. Interest per month is around 1550/month that first year. Tax is around 800. So interest plus tax is around 2350/month. Which is the waste right? So compare that to what I'd get for 2350/month? Unless I write this off on taxes? Compared to our usual standard deduction like 12k I think it is? So 2350 (the tax plus interest) X 12 months X 39% (our marginal federal bracket) gives me about 11k tax saving if I buy a home vs rent. So 11k saving on the year comes to like 900 per month saving. 2350 (the waste of tax and interest) - the 900 savings = 1450. Rental market at 1450/month is horrible compared to what you get for a 550k home where we are moving. I've obviously never done this before so I'm positive I'm making mistakes and bad assumptions. Pleas tell me where my logic is flawed and what you might do in this scenario. Thanks!
I think you added the mortgage payoff to the interest. 495k mortgage at 3.8% will have 18,810 in interest. Assuming 39% marginal rate will give you a 7,336 tax saving. Plus the 39% of the property tax.

It's not a lot of money in the end.

Have you wondered why it is they pay your closing costs? They want to tie you down to the area. People who are tied down turn down better job offers.
 
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I'm not a guru but on a house that is mod-priced such as 500 why do a 30 yr mortgage? How many of you guys agree with me? I think 15-yr is the way to go most of the time.

I'm a fan of reading wci website and that's what he says too. Although part of me says that saving the extra money and investing it, will return more than 3.8% over the next 30years (hard to say for sure though). Then add in the tax incentive. Is it accurate to think like that? Hard to argue with you though because the difference in total amount paid in interest between 15 and 30yr mortgage is substantial.
 
I think you added the mortgage payoff to the interest. 495k mortgage at 3.8% will have 18,810 in interest. Assuming 39% marginal rate will give you a 7,336 tax saving. Plus the 39% of the property tax, 312.

It's not a lot of money in the end.

Have you wondered why it is they pay your closing costs? They want to tie you down to the area. People who are tied down turn down better job offers.

Bankrate.com armitization calc gives me: principal 700 + interest 1550 (in the first year.

So interest yearly= 1550*12months=18000

Tax yearly =
550000*.0175 = 9625

Tax monthly = 800 = 9625/12months

Yearly tax (9635) + yearly interest (18000) = 28000 (approx)

28000*39%=11000 in tax savings in 1 year

11000/12 months = 900 a month saving

Total waste/month = 2350 =Monthly waste on tax (800) + monthly waste on interest (1550 )

Waste monthly ( 2350 ) - monthly tax savings (900) = 1450

Logical? I wrote it out so it'll be easier to find my error if I messed it up
 
I think you added the mortgage payoff to the interest. 495k mortgage at 3.8% will have 18,810 in interest. Assuming 39% marginal rate will give you a 7,336 tax saving. Plus the 39% of the property tax, 312.

It's not a lot of money in the end.

Have you wondered why it People who are tied down turn down better job offers.

I think you added the mortgage payoff to the interest. 495k mortgage at 3.8% will have 18,810 in interest. Assuming 39% marginal rate will give you a 7,336 tax saving. Plus the 39% of the property tax, 312.

It's not a lot of money in the end.

Have you wondered why it is they pay your closing costs? They want to tie you down to the area. People who are tied down turn down better job offers.

It's my wife's company (not medicine) that pays. She has been with them long time in several locations. If only AMCs treated employees like her company does...
 
I’m curious to see the 2018 Match results for Anesthesia in light of the author’s sentiments. I remember Radiology took a huge dip post-2010 in light of reports of a tight and / or deteriorating job market but has since recovered and has been on an upswing.
 
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