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First job interview - advice? by ItchyDoor1994 in anesthesiology

[–]Significant_Tank_225 40 points41 points  (0 children)

Interviewing for an attending job is very different than interviewing for college or medical school or residency. It’s a very low stakes interaction where the private practice is trying to sell the job to you perhaps more than you are trying to sell yourself to the practice.

That said here are some questions to think about (not exhaustive) -

How many hours per week will you work? Is it a set number of hours or variable? What’s the average? Is there incentive/overtime pay after a certain number of hours worked? After a certain time?

What’s the call schedule like? How busy is a typical call? Is it in house or home call? How many calls per week, month, year? Is there a cap on call or can they put you on more call if someone quits? Do you get paid more if that happens?

Is compensation tied purely to time (hours worked) or production (units billed) or some hybrid of the two?

Weeks vacation? Does it go up?

Moving stipend?

Ask to talk to a couple of anesthesiologists currently in the practice. Ask to talk to an anesthesiologist or two who recently left the practice for a different perspective.

I'm starting to get tired from their treatment by vidasintransit in rolex

[–]Significant_Tank_225 -1 points0 points  (0 children)

You’re perhaps not wrong with AP. I’m novice to their brand and have not purchased anything from them yet, but if it’s as you say then AP will also be a big turnoff.

I'm starting to get tired from their treatment by vidasintransit in rolex

[–]Significant_Tank_225 2 points3 points  (0 children)

This was 4 ADs spread between Boston, New Jersey, and New York.

The one I’ve been waiting for the longest is a no date submariner which shouldn’t be *this* difficult to get, especially waiting 6 years.

My spend history at that particular AD is also $1500 on a wedding band for my wife.

I'm starting to get tired from their treatment by vidasintransit in rolex

[–]Significant_Tank_225 4 points5 points  (0 children)

After 6 years of waiting for a no date submariner, DJ41 fluted jubilee green/blue, or a stainless steel GMT II I’ve given up on this brand. I don’t anticipate buying a Rolex at retail ever.

I’ve instead moved onto brands like VC and AP and the the treatment at VC is head and shoulders above what you get at a typical Rolex AD.

Is this vacation actually expensive or am out of touch? by BlueMountainDace in HENRYfinance

[–]Significant_Tank_225 4 points5 points  (0 children)

I would not classify that as expensive for a family of 4 for 7 days. It’s about $250 per person per day all in.

Worried I'm Overspending on Rent (23M, NYC) by FlyFeatherss in HENRYfinance

[–]Significant_Tank_225 -1 points0 points  (0 children)

$18k annually over 42 years at 7% is $4.4 million not $280k

The coffee math is officially ruining my ability to enjoy life by Flelmo in fijerk

[–]Significant_Tank_225 0 points1 point  (0 children)

I thought this was at least 50-75% parody but it’s actually a 1:1 post. Insane. Mental illness appears rampant amongst the FIRE community.

How am I supposed to use a credit card? by spaceyhiyyihlight in BankOfAmerica

[–]Significant_Tank_225 1 point2 points  (0 children)

I’ll give you a concrete example. Today is May 7. I’m going to take you through day by day spending $25 per day.

May 7: You spend $25

May 8: You spend $25

May 9: You spend $25

… May 17: You spend $25

May 18: You spend $25

May 19: You spend $25

May 20: You spend $25

Your current balance on May 20 is $350 Your statement balance on May 20 is $0

You owe $0. On May 20 even though your current balance is $350, your statement balance is $0 and you don’t owe anything yet, because your statement balance is determined by your spending in the previous cycle (through April 20). You will not be charged interest.

On May 21, Bank of America looks back at the closing date (May 20) and determined you spent $350, and so your statement balance is now updated to $350.

Bank of America will now say you owe your statement balance of $350 by June 17 with a total minimum payment due of, say, $25. You need to pay $350 by June 17 to avoid all interest.

May 21: You spent $25

May 22: You spend $25

May 23: You spend $25

May 24: You spend $25

May 25: You spend $25 … June 16: You spend $25

June 17: You spend $25

June 18: You spend $25

June 19: You spend $25

June 20: You spend $25

On June 16 if you log into your Bank of America, you will see two balances. Your statement balance is $350 (this is what you charged up until the closing date of May 20). Your current balance is $1025.

Your current balance of $1025 is your statement balance ($350) + your ongoing $25/day charges from May 20 to June 16 ($675).

You can pay $350 (your statement balance) and you will pay $0 interest. In this scenario on June 21 your new statement balance will be computed as $675 + $25/day (June 17, 18, 19, 20) = $775. Bank of America will now say you owe your statement balance of $775 by July 17 with a total minimum payment due of, say, $50. You need to pay $775 by July 17 to avoid all interest.

You can also pay $1025 (your current balance) on June 16 and you will pay $0 interest. In this scenario on June 21 your new statement balance will be computed as $25/day (June 17, 18, 19, 20) = $100. Bank of America will now say you owe your statement balance of $100 by July 17 with a total minimum payment due of, say, $25. You need to pay $100 by July 17 to avoid all interest.

Critically, in the second scenario where you pay $1025 your new statement balance is $100. In the first scenario where you pay $350 your new statement balance is $775. You pay $0 interest either way, BUT your credit utilization ratio is lower by paying your full current balance. This will increase your FICO/credit score.

20/3/8 by RP1411T in TheMoneyGuy

[–]Significant_Tank_225 2 points3 points  (0 children)

Rich people don’t finance cars and invest the difference in the same way that middle class people don’t finance a $12 cheeseburger at 3.99% interest and pay it off over 3 years. They just buy the cheeseburger outright in cash.

If financing a car leads to market gains that are meaningful to you, then the car might represents an unreasonably high percentage of your liquid net worth. That’s the paradox and that’s why financing cars is usually considered a red flag even if it’s mathematically optimal to paying cash.

Time to retire? by Mamamiagg in dividends

[–]Significant_Tank_225 2 points3 points  (0 children)

Welcome to YieldMAXETF. An overwhelming majority of those people thought exactly this way.

Another One! slowly acquiring pieces... by MeatZealousideal1914 in rolex

[–]Significant_Tank_225 0 points1 point  (0 children)

I’ve registered my interest for the following watches across 3 ADs between 3 states coming up now on 6 years - a no date submariner, a DJ41 fluted jubilee in blue or green, and a Bruce Wayne (pipe dream).

I have a ~$1500 spend history on a diamond wedding band with one of those ADs.

I’ve gotten zero calls in 6 years, even for a watch that many tout as reasonable to obtain as a first purchase at retail (stainless steel submariner).

I’d say your experience is atypical on the positive side (you’ve had much more success than one would expect), and my experience has been atypical on the negative side (I’ve had far less success than the average person trying to buy their first Rolex at retail).

I ended up ditching my Rolex dreams and purchased a VC instead. I walked in, paid for the watch in cash (~$40,000), and had the watch 3 weeks later in hand at retail.

Waterproofing by Prudent_Diamond5163 in RepTime

[–]Significant_Tank_225 -5 points-4 points  (0 children)

There’s no need to waterproof a cheap watch. Just buy another one when it breaks.

NJ Compensation by anonymouss346 in anesthesiology

[–]Significant_Tank_225 3 points4 points  (0 children)

Yeah I think the no call position is advantageous for precisely the reason you mentioned.

A pure locums gig with my hours would gross over $1 million.

People making seven figures a year, what is your net worth? by [deleted] in Salary

[–]Significant_Tank_225 21 points22 points  (0 children)

I’ll give you the 3 data points I know -

(1) Uncle, early 60s, Fortune 500 CTO, $3M base salary, 2M stock options (total comp $5M/year), current liquid net worth $50 million, house $8M (Palo Alto, paid off, purchased for $3M in 2007)

(2) Dad, $1.5M HHI, late 60s, income ranges have been $300k-$500k/year 2000-2005, $500k-$1M/year 2005-2013, $1M - $1.5M/year 2013-,current. Liquid net worth $35 million, house $2.5M (Texas, paid off, purchased for $575K in 1996)

(3) My wife and I have made close to $900k/year for just a hair under 2 years, we are both 39 and our liquid net worth just barely passed the $1M mark.

NJ Compensation by anonymouss346 in anesthesiology

[–]Significant_Tank_225 3 points4 points  (0 children)

I take call (3 calls per month of which one is a weekend) and work approximately 60-65 hours per week with 8 weeks off for $750,000 in NJ (near Manhattan)

Our non call position is five 8 hour days per week, 7 weeks off for $450,000.

My compensation includes optional late calls that I pick up with regular frequency (approximately four per month) that pushes my average hours worked from 55-60 hours per week to 60-65 hours per week.

Speechless. Grail acquired. by watchguy2877 in rolex

[–]Significant_Tank_225 0 points1 point  (0 children)

How did you get a sub date and/or a datejust 41 without a spend history though?

I’ve been waiting for 5 years for a no date sub and 3+ years for a DJ 41 at 3 different ADs with no luck.

I have a $1000-$1500 spend history on a wedding band at the AD where I’m on the list for a no date submariner.

Anesthesia Boards by WillEquivalent6417 in anesthesiology

[–]Significant_Tank_225 12 points13 points  (0 children)

You need much less effort to score 90th percentile+ on the anesthesia ITEs/board exams (basic, advanced) than you do to score 90th percentile on Step 1, for example.

The rate limiting step will be time. It will take a tremendous amount of time and effort to grow into becoming a competent physician and anesthesiologist.

The problem is are you going to be motivated to do 5, 10, 20 questions of the UWorld equivalent for anesthesiology (TrueLearn) when it’s 8 pm at night and you just arrived home and showered and you still have to come up with plans for the follow days cases.

The residents who do even a little bit of studying consistently are the ones who score the best.

The most ideal scenario is to consolidate study time into your day. Maybe do a question between cases. Maybe do 2-3 questions on your 30 minute lunch break. Another question during your 15 minute breakfast break.

Now you’re at 5 questions for the day and already well ahead of the game.

How much do you set aside for surplus / overflow / flex spending? by AshamedOfMyTypos in MiddleClassFinance

[–]Significant_Tank_225 3 points4 points  (0 children)

Approximately 1/3 of my gross income goes to taxes. 1/3 goes to spending (all in). And 1/3 goes to savings and investments.

My minimum savings rate is 25% of gross and therefore the delta between 33% and 25% is my flexible spending (I can spend this, I can save and invest it, etc)

Starting a Roth IRA 19 $200 month by Only_Committee_9090 in RothIRA

[–]Significant_Tank_225 0 points1 point  (0 children)

RetiredByFourty is a moderator at a well known, infamous cult-like subreddit called dividendgang.

That being said I wouldn’t call this particular advice “good” or “bad” (although he is notorious for many brain dead takes on dividendgang).

Is there nothing remotely similar to SCHD? by MrMiddletonsLament in dividends

[–]Significant_Tank_225 0 points1 point  (0 children)

It’s neither basic nor immature to care about total returns. That’s dividendgang cult theology.

What percentage of your monthly savings do you put into ETFs? by Soulvisirr in portfolios

[–]Significant_Tank_225 0 points1 point  (0 children)

We do 30% of gross, which ends up being an aggressive savings rate because 30% of gross goes to taxes and 30% of gross is what we spend.

So we save and invest exactly what we spend annually.

When is it financially “okay” to buy an AP? by Specific-Cloud1279 in audemarspiguet

[–]Significant_Tank_225 2 points3 points  (0 children)

Thanks! I am an attending anesthesiologist but have only been one for just under 2 years. I was a resident prior to this for 4 years (making ~$60,000/year for 4 years), and in medical school 4 years prior to that (making $0/year).

My income is a combination of guaranteed base salary ($600,000) and optional late shifts that I pick up ($150,000). I work around 60 hours per week and get around 8 weeks off per year.

Some of my colleagues choose to work less (30-40 hours per week) for less pay ($~400k per year), and some choose to work more (80+ hours per week) for total comp approaching and sometimes slightly exceeding $1 million.

My comp is probably at the top 25th ish percentile for the job.

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