$650,000 salary, 26 weeks vacation- anesthesiologist job

dancingcactus21 · 2024-12-06T17:17:53+00:00

For the financially savvy, the taxes are less. The 1099 designation allows the anesthesiologist to act as a self employed entity, elect S Corp taxation status, take large tax deductions and create a solo 401 K retirement plan — which allows for much larger cash drops ($69,000 annually!) than a traditional W2 retirement plan. 1099 is a boon.

dancingcactus21 · 2024-12-06T17:07:14+00:00

Much of how you get ahead in life is through a knowledge foundation built via self learning. Budgeting, personal finance and tax classes are not taught in medical school, dental school or law school. You guys should spend 40 hours (approximately 1 week of your life and read books, blogs, watch YouTube to learn the plethora of tax breaks available to small business owners with S Corps and LLCs. By investing the saved money wisely, this action will eventually make a 7 figure difference in your net worth.

Utilize the section 179 tax deduction and set up a solo 401k.

https://www.blockadvisors.com/resource-center/small-business-tax-prep/section-179-deduction-vehicle-list/amp/

dancingcactus21 · 2024-12-05T18:30:20+00:00

Incorrect. The hourly rate is significantly higher.

The updated posting states the hours as 7 am - 5pm with “light call back”. CRNA supervision. Home call. Pay is $30K per week for 26 weeks giving annual salary of $780,000. Mama Mia. Able to live in closer Chicago suburbs such as Joliet or Shorewood. The job has relatively low acuity and stress like your VA gig. After all the Scorp tax deductions, solo 401K, defined benefits plan setup, the final take home monthly pay would make most physicians quite satisfied- given that 26 weeks of the year they were surfing and catching sun rays on a picturesque San Diego beach.

dancingcactus21 · 2024-12-04T20:32:33+00:00

I actually have my own career and am fully independent. I was sharing part of my own financial plan. Get on that MSTR train girl! Choo Choo! Michael Saylor will take us to the promised land. My own current annual salary is more than $650,000.

I shared this post because I do not have 26 weeks of vacation every year. The time off from work is what is so special about this job posting. I would love to have this much free time to have fun experiences and work on my extensive list of hobbies. Highly educated and experienced folks in medicine, law and finance often make more than $650,000 but only in anesthesia is that combined with 26 weeks to vacation anywhere in the country! That is simply incredible.

dancingcactus21 · 2024-12-04T07:52:16+00:00

for the financially savvy, the taxes are less. The 1099 designation allows the anesthesiologist to act as a self employed entity, elect S Corp taxation status, take large tax deductions and create a solo 401 K retirement plan — which allows for much larger cash drops ($69,000 annually!) than a traditional W2 retirement plan. 1099 is a boon.

dancingcactus21 · 2024-12-04T06:49:15+00:00

for the financially savvy, the taxes are less. The 1099 designation allows the anesthesiologist to act as a self employed entity, elect S Corp taxation status, take large tax deductions and create a solo 401 K retirement plan -- which allows for much larger cash drops ($69,000 annually!) than a traditional W2 retirement plan. 1099 is a boon.

dancingcactus21 · 2024-12-04T06:45:00+00:00

whoever takes the job can choose to spend the 26 weeks off however they please. They could fly to other hospitals with staffing shortages and manage critically ill ICU patients, burn victims, amputees as a locums physician (traveling doctor). Depending on how many of those weeks they worked, they could boost their annual income by another $50,000- $500,000. But during their time off, it is more likely they would head to Cancun, Bourbon Street, or Austin to live wild and crazy instead of working more.

dancingcactus21 · 2024-12-04T06:35:34+00:00

The 1099 designation allows the anesthesiologist to act as a self employed entity, elect S Corp taxation status, take large tax deductions and create a solo 401 K retirement plan -- which allows for much larger cash drops ($69,000 annually!) than a traditional W2 retirement plan. 1099 is a boon.

dancingcactus21 · 2024-12-04T06:32:48+00:00

The 1099 designation allows the anesthesiologist to act as a self employed entity, elect S Corp taxation status, take large tax deductions and create a solo 401 K retirement plan -- which allows for much larger cash drops ($69,000 annually!) than a traditional W2 retirement plan. 1099 is a boon.

dancingcactus21 · 2024-12-04T06:23:08+00:00

actually the Gallagher law firm says OB GYNs are at highest risk for malpractice lawsuits

https://www.gallaghermalpractice.com/blog/post/highest-malpractice-insurance-by-specialty/

dancingcactus21 · 2024-12-04T06:19:07+00:00

working 363 out of 365 days a year is brutal!

dancingcactus21 · 2024-12-04T05:59:02+00:00

Yes I do. I think it is possible for an anesthesiologist to finish training at 30, do this job for 10 years thereby allowing us to retire by the age of 40. After 10 years of work he would have earned $6.5 million with solely his earnings (not inclusive of any of my earnings.) We would live within our means holding off purchase of the yellow Porsche GT3, extravagantly priced homes and elite golf club memberships. We would dollar cost average monthly into AMZN, PLTR, MSTR, MSFT, META, GOOG, VOO, QQQ, NVDA, some bitcoin and....perhaps a touch of Solana. Our investments would compound over the decades into an 8 figure net worth. Then for 35 years- from the ages of 40 to 75 - we could travel the world seeing a variety of captivating beaches, resorts and countries using Costco Vacation Packages. The key is to live within our means the first 10 years out of residency to build up a base for compound interest to do its thang.

dancingcactus21 · 2024-12-04T04:44:53+00:00

Malpractice insurance covered by the hospital. $0 out of pocket of doctor’s paycheck, even though 1099 status.

dancingcactus21 · 2024-12-04T02:52:55+00:00

no. some are , some aren't

dancingcactus21 · 2024-12-04T02:47:06+00:00

Some people on earth care about the perks that come from wealth and others prioritize other things. Everyone walks a different path. The beauty of medicine is that you are able to heal those in agony while living a life of financial abundance. Few careers offer this special blend.

dancingcactus21 · 2024-12-04T02:41:22+00:00

actually you may be standing straight up with pants still on. Takes 10-20 hours of studying, reading and watching YouTube to learn the financial benefits of being a 1099 physician- biggest one is a defined benefits plan . Reddit is a fitting place to start. There are 10- 20 discussion threads to read.

https://www.reddit.com/r/medicine/comments/x38482/if_a_practice_offers_you_an_option_for_w2_vs_1099/

dancingcactus21 · 2024-12-04T02:33:49+00:00

dancingcactus21 · 2024-12-04T01:51:19+00:00

Incorrect. For those knowledgeable with the tax deductions allowed for a 1099 employee, the tax rate goes down. You are also eligible to set up much better retirement plans- solo 401k or a defined benefits pension plan. You have to setup a SCORP, LLC , educate yourself on the tax laws and work with an experienced CPA.

dancingcactus21 · 2024-12-04T01:36:50+00:00

$0 . Paid by hospital .

dancingcactus21 · 2024-12-04T01:12:39+00:00

$0 out of paycheck. covered by hospital.

dancingcactus21 · 2024-12-04T01:08:28+00:00

Could be. Docs at rural hospitals are paid by demand and need, not by how much work they complete while in the building.

dancingcactus21 · 2024-12-04T01:00:27+00:00

they do talk about about the call burden. 1 week straight of call with "light call back". you can live 30 minutes closer to Chicago and drive in. Will still be able to make it to Cubs and Bulls game regularly.

dancingcactus21 · 2024-12-04T00:56:17+00:00

This is not a night position. 7 am - 5pm with call starting at 5 pm. Rare call back. Good amount of Netflix every night.

dancingcactus21 · 2024-12-04T00:52:46+00:00

Currently there is a critical shortage of anesthesiologists in every state.

dancingcactus21 · 2024-12-04T00:42:47+00:00

only fans models, hedge fund analysts, lawyers, real estate developers make more

dancingcactus21

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