Newbie Wants To Accelerate To Supersaver (2 of 2)

crispydoc Uncategorized 2 Comments

We’ve calculated you’ll need an income of at least $280k in order to max out your i401k. To max out the contributions we’ve discussed as an independent contractor you’ll be saving Total savings: $75k. A very respectable sum that corresponds to a 27% savings rate on an income of $280k. Sure, you can fund those as well (especially if your …

Newbie Wants To Accelerate To Supersaver (1 of 2)

crispydoc Uncategorized 4 Comments

A reader is an independent contractor in emergency medicine. He is married with young kids, looking to buy a house in the next 1-2 years in a high cost of living (HCOL) area in a high income tax state. He graduated residency fewer than five years ago and is on an accelerated learning program toward financial literacy, devouring books on …

The Budget Bon Vivant

crispydoc Uncategorized 3 Comments

We’re baa-aack! This summer’s big trip (vacation is a term my wife and I reserve for travel without children; trip refers to travel with children) was to Spain, and I thought it might be worthwhile to share the tips and tricks that made this one wonderful, as well as the fails that we’ll learn from going forward. We began in …

Taking On A Loved One’s Emotional Burden

crispydoc Uncategorized 5 Comments

Yesterday I watched a particularly moving film, The Farewell. [I hate spoilers, so nothing that follows is not already evident in the trailers.] The film follows the Americanized branch of a Chinese family through the eyes of a millennial granddaughter as she returns home for a final visit to the family matriarch who has been diagnosed with terminal cancer. Heavily …

Does Your Career In Medicine Cause You Shrinkage?

crispydoc Uncategorized 14 Comments

I was in junior high school the first time I accepted a friend’s invitation to join him in the Pacific Ocean. He’d been surfing since grade school, and agreed to lend me a spare bodyboard for our afternoon at the beach. After his mom dropped us off, he wrapped a towel around his waist and shimmied into a full length …

Primary Care Business Owner Wants To Cut Back (3 of 3)

crispydoc Uncategorized 3 Comments

In our second installment, we explored variables within Dr. PBO’s control that might reduce the unpleasant aspects of his job. Assuming he has adjusted those within his control, let’s talk about he might go about becoming (apologies to Seinfeld fans) a master outside his domain. Dr. PBO’s scenario already has one great advantage: he is a business owner, an increasingly …

Primary Care Business Owner Wants To Cut Back (2 of 3)

crispydoc Uncategorized 4 Comments

In our first installment, we determined that Dr. PBO’s journey to Financial Independence (FI) needs to begin with an assessment of his starting point, his destination, and consideration of the vehicles he intends to use to arrive at FI. It can be surprising to realize that despite feeling stuck, many of the variables to improve our work-life balance are largely …

Primary Care Business Owner Wants To Cut Back (1 of 3)

crispydoc Uncategorized 4 Comments

If you read through my list of physician finance bloggers, you’ll note that shift-based specialists like anesthesiologists, radiologists and emergency physicians are over-represented. Where are the primary care physicians? They do not blog in proportion to the half of the physician work force they comprise, leaving a vacuum of first person testimony as to how such clinicians might cut back …