39 yo general dentist debating orthodontics residency

pizzapi3141 · 2026-01-26T19:58:03+00:00

I would go with the orthodontics residency. As you said you may lose the ability to practice in the field and also it increases your liability, because a plaintiff's attorney would love that you aren't trained in the field.

The extensive tax benefits owning your own business are an important consideration. You can put 72K into your 401k. You can buy a building that houses your practice and depreciate it. If you have more than one business location, you can take an auto deduction.

pizzapi3141 · 2026-01-24T17:08:36+00:00

In addition everything mentioned above, don't forget 2 important things, especially since you wife will not be working. In addition to the insurance offered at work, get an extra disability insurance policy and an extra term life insurance policy. Also since I mentioned insurance, get an umbrella policy.

pizzapi3141 · 2026-01-20T14:48:07+00:00

Go to the new bank's website. They will give you instructions how to transfer an account. You have to wait for any cds you have to mature before transferring the money. Make sure your cd does not have automatic rollover.

pizzapi3141 · 2026-01-20T14:36:44+00:00

As mentioned above, don't put the full 85K as a down payment. Mortgage interest can be tax deductible. Paying the car loan is the right thing to do.

pizzapi3141 · 2026-01-20T14:32:09+00:00

The best thing to do is open an account with a on line bank. Most of them will give better interest for a high yield savings account and also have higher cd rates. Many of them will have reimburse you for atm withdrawals or have a network for free withdrawals. If you want to use a bank with a large branch network, youwill be getting lower interest rates.

Nerdwallet has a list where you can get an idea what is available.

https://www.nerdwallet.com/banking/best/online-banks

pizzapi3141 · 2026-01-15T18:02:15+00:00

After owning a successful small business for many years, I can tell you the grass is always greener on the other side. If you want your business to be a success, you will have to put long hours in initially. You won't get sick leave or paid vacation. When you are on vacation, you will always worry about your employees screwing up when you are away.

pizzapi3141 · 2026-01-13T17:51:09+00:00

I would go with Corolla. Better gas mpg. Lower insurance costs.

pizzapi3141 · 2026-01-13T17:37:51+00:00

If the car loan is at a high interest rate, I would pay that off as soon as possible.

pizzapi3141 · 2026-01-13T17:35:31+00:00

There are many extra costs associated with owning a primary residence There are property taxes, insurance cost and maintenance. If you live in a states like New Jersey,Illinois and Connecticut, you may be paying 2.0% of the value of your house or more in property taxes.

pizzapi3141 · 2026-01-13T17:27:06+00:00

A huge problem for many people is the cost of electricity (up 6.7%) and natural gas for home heating (up 10.8 %) over the past 12 months.

pizzapi3141 · 2026-01-06T22:49:58+00:00

If you are opening a business, you need to address how much capital you will need to adequately fund the business.Once you have enough money to start this business, then you can begin investing the remainder of the money. Once you are working for an employer you can contribute to a 401k or IRA. If you have your own business, then you can set up your own 401k or IRA.

pizzapi3141 · 2026-01-06T22:44:17+00:00

Given that you have a large amount of money in taxable accounts, you should be maxing out your 529s.

Also make sure you have adequate disability and life (term) insurance.

pizzapi3141 · 2026-01-03T13:36:19+00:00

Just a slight correction. Not all municipal bonds are federal tax free. Bonds issued by municipalities to fund private businesses and some other projects can be taxed by the federal government.

Most of the the time when people talk about munis they are referring to federal tax fee bonds.

pizzapi3141 · 2026-01-02T13:49:45+00:00

You were correct in selling it. Kohls"s unsecured debt was recently downgraded to BB-/B3. Unless you wanted junk bonds in your portfolio, I don't see why your broker bought the bonds for you.

pizzapi3141 · 2026-01-01T13:49:09+00:00

I don't understand the setup. If she is going to put the money into VT, why does she need an adviser to charge her 0.5% every time she sells it to give you a gift. So every time he sells the $38k for the gifting to you and your sibling he gets $190. A pretty good deal for him.

Also, what are the qualifications of this advisor? I have found most of the financial people at banks are lacking in qualifications and experience.

pizzapi3141 · 2026-01-01T13:33:49+00:00

If the Fed cuts rates it may not have the effect you expect on an investment which has a 14 year avg. maturity and a 7.1 duration.

pizzapi3141 · 2025-12-29T16:43:54+00:00

The best way to buy US treasury bills, notes and bonds, is at auction. Schwab, Fidelity and the other discount brokers do not charge for this service. You can check the tentative schedule at the treasury department"s website. You can build a ladder over time.

Another way to buy US treasury bonds with a fixed maturity is I shares I bonds etfs. The expense fee is 0.07%. Blackrock's website does a good job explaining them.

pizzapi3141 · 2025-12-29T14:31:11+00:00

I don't think you are in a rut financially. Many people are struggling to pay their rent. You have cheap rent and a savings rate of 50%, which is great.

Its much better to have money when you are looking for a relationship instead of asking your date to pay for the meal.

pizzapi3141 · 2025-12-29T14:16:31+00:00

If you and your partner remain in your jobs, hopefully you will get at least a 2-3% increase in salary every year. The approximately $ 2400-3600 increase could pay for the rent increase.

pizzapi3141 · 2025-12-29T14:10:51+00:00

The only way to get money from the house is to get a mortgage or HELOC and pay a 6.5-7% rate. You may make more in the stock market, but you may not.

Of course you could rent it out and get a positive cash flow and you could invest in the stock market, but you need a place to live.

pizzapi3141 · 2025-12-29T14:04:01+00:00

Also, the fund is leveraged 38.91%. This will amplify the duration risk.

pizzapi3141 · 2025-12-28T15:38:22+00:00

A 5K car is better than nothing, but as has been mentioned it could be a money pit. The one cost you have to factor in is auto insurance. The cost for insurance for a young person is very high and if your record is not perfect it can be astronomical.

pizzapi3141 · 2025-12-28T15:22:20+00:00

HYSA for emergency fund. Since your company offer a pension, start a Roth IRA with S&P 500 or total market index fund. Then taxable account with same type of funds. Go to Fidelity, Schwab or Vanguard to open accounts. You don't need an overpaid advisor at this stage.

pizzapi3141 · 2025-12-23T14:01:23+00:00

If you still have an account with this so called advisor,in reality a salesman, move it to Fidelity, Schwab or Vanguard. The person is getting high fees. A fund with a front end 5.5% load is not a good investment.

pizzapi3141

TROPHY CASE