One lump sum payment of $1500 versus annual payment of $300 for 5 years

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ABEM new certification process requires to have an annual fee. You can either pay them as one lump sum payment of $1500 or annual payment of $300 for 5 years. Which one would you prefer?

It is said that you do not have to pay for each individual module once you pay the annual fee. Does this mean that I have unlimited access to all the modules once I pay $300? Previously, each module will cost you $350.

 

[miacomet]

A dollar now is worth more than a dollar later....

 

[GatorCHOMPions]

ABEM new certification process requires to have an annual fee. You can either pay them as one lump sum payment of $1500 or annual payment of $300 for 5 years. Which one would you prefer?

It is said that you do not have to pay for each individual module once you pay the annual fee. Does this mean that I have unlimited access to all the modules once I pay $300? Previously, each module will cost you $350.

If you have the CME from your job I would pay the $1500. Never know if your job or benefits will change in the next few years. If you’re paying your own money, choose $300 for the same reasons.

 

[emergentmd]

All being equal payment is better fiscally but we make so much $$$, I rather just pay and not worry about it anymore.

 

[cyanide12345678]

If paying out of my pocket, i would pay annually because a dollar today is worth more than a dollar spent tomorrow.

Though since i have unlimited funds from my employer to use towards abem fees without even using my cme, i personally would just pay it all in one go.

 

[bravotwozero]

If IC, can write off the whole $1500.

 

[ScepticSkeksis]

If IC, can write off the whole $1500.

Agreed, depends on the scenario. IC can write it off, and no guarantee that in 3 years you will still be IC, or that IC is even legal nationwide.

 

[GassYous]

Pay it annually and make 4%+ a year on the cash

 

[thegenius]

ABEM new certification process requires to have an annual fee. You can either pay them as one lump sum payment of $1500 or annual payment of $300 for 5 years. Which one would you prefer?

It is said that you do not have to pay for each individual module once you pay the annual fee. Does this mean that I have unlimited access to all the modules once I pay $300? Previously, each module will cost you $350.

300 over 5 years. theoretically 300 in the year 2028 does not have the same buying power as 300 today. it will be much less in 2028

 

[EctopicFetus]

Pay it annually and make 4%+ a year on the cash

Effort for the reward is small. But I pay as little as possible. Not cause I can’t afford it but because screw ABEM and I don’t want them holding my $$

 

[JAFERD_MD]

I make sure to pay at the end of December. Because screw ABEM.

To be fair, you can't be sure it'll be $300/yr going forward. I paid $280 in December 2021 so they've already raised it 7%.

 

[valianteffort]

Here's the math for your geeks out there.

Year 1 - 300 dollars now - 1200 in savings with a T bond/CD/high yield savings - 5% - 1260 in your pocket
Year 2 - 300 dollars - 960 left - as above 5% yield (if it remains) - 1008 in your pocket
Year 3 - 300 dollars - 708 left - as above - 743.40 left
Year 4 - 300 dollars - 443.40 - as above - 465.57 left
Year 5 - 300 dollars - 143.40 - as above - around 150 dollars

By paying yearly you made 150 dollars, or equivalent to working 4 hours for USACS at one of there beloved urgent cares.
It also keeps ABEM from being able to afford first class tickets to their biyearly Hawaii meeting for administration.

 

[thegenius]

So it’s $30/year if the 2 yr or 3 mo Tbill continues to return 5% every year as you discussed. Plus that 30/year melts due to inflation as well.

 

[RustedFox]

Here's the math for your geeks out there.

Year 1 - 300 dollars now - 1200 in savings with a T bond/CD/high yield savings - 5% - 1260 in your pocket
Year 2 - 300 dollars - 960 left - as above 5% yield (if it remains) - 1008 in your pocket
Year 3 - 300 dollars - 708 left - as above - 743.40 left
Year 4 - 300 dollars - 443.40 - as above - 465.57 left
Year 5 - 300 dollars - 143.40 - as above - around 150 dollars

By paying yearly you made 150 dollars, or equivalent to working 4 hours for USACS at one of there beloved urgent cares.
It also keeps ABEM from being able to afford first class tickets to their biyearly Hawaii meeting for administration.

Spoken like a true WSB autist. (I mean that within the framework and context of the relevant subreddit). 😉

 

[PianoMedic]

Here's the math for your geeks out there.

Year 1 - 300 dollars now - 1200 in savings with a T bond/CD/high yield savings - 5% - 1260 in your pocket
Year 2 - 300 dollars - 960 left - as above 5% yield (if it remains) - 1008 in your pocket
Year 3 - 300 dollars - 708 left - as above - 743.40 left
Year 4 - 300 dollars - 443.40 - as above - 465.57 left
Year 5 - 300 dollars - 143.40 - as above - around 150 dollars

By paying yearly you made 150 dollars, or equivalent to working 4 hours for USACS at one of there beloved urgent cares.
It also keeps ABEM from being able to afford first class tickets to their biyearly Hawaii meeting for administration.

Nice. I paid for 5 years before the end of the year, it was $280 per year then. So I in theory lost out on $50 in interest, but that’s only if rates go to 5% (not there just yet on these accounts) and stay there, neither of which is guaranteed. I don’t disagree that it’s probably better to pay annually, but they definitely can and likely will increase prices. To each their own.