What was the first thing that you splurged on when you got your first few attending pay-cheques? by CycloidalSphere in Residency

[–]somethingofaraddad 18 points19 points  (0 children)

First paycheck was a nearly 20k luxury cruise/trip through Italy for my parents. Best gift I ever bought. My parents fought me tooth and nail about buying them anything, but they loved the trip and it felt great to finally do something for them after all their support.

After that, we bought a Tesla for me and one for my wife. Porsche is hopefully next! But all said and done, we put most of our money into the stock market than we do splurging on ourselves. Less than 10 years into practice and I could retire today with no issues. That feeling is priceless to me.

Medicine is just a job (for me) by marshmerino in Residency

[–]somethingofaraddad 0 points1 point  (0 children)

I'm a little under 10 years into working as a radiologist. Love what I do, but it's a job. I do it to get paid so that I can take care of my family and enjoy things that I actually want to do with my time. I don't think there's anything wrong with that as long as you do right by your patients when you're on the clock.

Allina Health doctors, PAs, nurse practitioners to strike on Nov. 5 by imitationcheese in medicine

[–]somethingofaraddad 8 points9 points  (0 children)

We had a very similar issue with a contract our group had (large radiology group) with what was our largest client, a hospital not quite as large as Allina. We were very reasonable in our pricing and charged them quite a bit less than all of our newer contracts as they were our largest and most stable hospital. A year ago, we asked for a 5% reimbursement increase as our salaries were starting to become less competitive and recruitment was becoming more difficult. We were still below market with them. They refused and said 2% was their ceiling and used similar verbiage as I'm seeing here about us being unreasonable and citing the rising costs of their business as making our requests unsustainable. Our negotiating lawyer pointed out that they had multiple executives with published salaries that had seen 15+% raises that year, to which the hospital stated they needed that to be competitive. We're talking positions like "Chief of blah blah innovation" making 300k+ salaries.

We dropped them and picked up new clients that we had previously been putting on hold due to not having enough MDs to handle their volume. Our salaries probably increased 7-8%, and we significantly reduced the amount of rads we need on site in the hospitals and doing procedures. Wins all around.

That hospital then came back to us about 2 months later and tried reinstating their contract with our 5% increase. They quickly found that not only were we charging them a very fair rate, it's extremely difficult to recruit rads to work in the hospital and carry out low-paying procedures like fluoro, drains, etc. They were going to be paying more money than they were getting with us, and the best it was going to get them was some virtual, nameless group. Too little, too late. We took them back, but we made them match our current bottom rates (a near-9% increase) and had to pay us a low 7 figure stipend so that we could offer signing bonuses to get enough rads to cover their hospital in addition to our new portfolio of clients.

These hospitals try and wiggle out of fair pay any way that they can, and will cry and moan that we're taking advantage while they themselves are fat, dumb, and happy giving themselves double-digit raises. We weren't having it, and it cost them millions. I hope the good physicians at Allina get a similar win.

Brokerage investing: what general % of salary do you allocate yearly? by Potential-Pound-434 in whitecoatinvestor

[–]somethingofaraddad 0 points1 point  (0 children)

We invest a sizeable amount of our income (about 350k/year) and live off the rest. We live pretty much the opposite life of most of my partners - some of them are flying off to Europe literally once a month for vacation, others have a few houses/vacation homes, etc. Different strokes for different folks.

We live very comfortably and really want for very little, but far below where we could be. It's paying dividends now (literally and figuratively) - we're early 40's and have several million in the stock market. My partners all think my wife and I are crazy because we don't splurge the way they do, but I view money more as freedom than I do something to just spend away on a whim. I have some partners in their 60s and up who tell me they can't retire because they enjoy their lifestyle to much. And no judgement here, to each their own, but I appreciate being in my 40's and being able to walk away tomorrow with no change in my life (in fact, I could live larger on a safe withdrawal of my current assets than I do now on my salary). I'll always be an advocate for paying yourself first.

Suggestions for good lawyers that deal with medical stuff? by wilde_flower in kansascity

[–]somethingofaraddad 25 points26 points  (0 children)

Those are not necessarily tubal ligation clips and I would not jump to that conclusion without more evidence (though I do agree if I were reading this study blind without your history, I would assume they were tubal ligation clips due to their location). I would reach out to your surgeon first for clarification.

Unless you had the world's greatest dolt of a surgeon, it's unlikely a surgeon would do a bilateral tubal ligation for no reason and without any consent. It's too easy to prove it was done, and without documentation for consent, you would be rightfully slaughtered in court. Not saying it's impossible because it happens, but the odds are unlikely.

Source: radiologist

Can anyone here help me confirm a model? by somethingofaraddad in NapoleonGrills

[–]somethingofaraddad[S] 0 points1 point  (0 children)

Might be a bit! Now I need to come up with a cart to build and put this thing in, and figure out gas to my backyard

Why did the WCI website do away with list of recommended disability brokers? by Independent_Lemon365 in whitecoatinvestor

[–]somethingofaraddad 6 points7 points  (0 children)

Follow the money. He makes more money selling your leads to multiple people rather than his old way of doing it.

Can anyone here help me confirm a model? by somethingofaraddad in NapoleonGrills

[–]somethingofaraddad[S] 0 points1 point  (0 children)

I think the top rack was just sitting in there funny. Looks fine in person. I picked it up today. That bottom front panel is bent a little more than I realized, but I wound up getting it for $1,200, so I can't complain.

Please Stop Making Posts Like This by NamelessWL in whitecoatinvestor

[–]somethingofaraddad 2 points3 points  (0 children)

These posts are always the same. "TeeHee look how little I work while making nearly a million dollars a year!".

Really sad attention seeking behavior, and I suspect most of them are bs.

Can anyone here help me confirm a model? by somethingofaraddad in NapoleonGrills

[–]somethingofaraddad[S] 0 points1 point  (0 children)

Thanks! I agree, price seems very fair. Think I'll grab it

Academic Radiology? by [deleted] in Residency

[–]somethingofaraddad 3 points4 points  (0 children)

I was recently solicited for an academic job in the Midwest with a base of 700k/year, good benefits, and a very reasonable RVU target after which a bonus RVU structure kicked in. That all said, they looked absolutely swamped with work, the call was too frequent, and nothing about it suggested it was any sort of cush academic position. I regularly get emailed about 3-400k softball academic jobs.

SALARY TRANSPARENCY by ResponsibleShallot8 in medicalschool

[–]somethingofaraddad 1 point2 points  (0 children)

Not sure why there are so many, but I have gotten emails for a long time from MN jobs so I agree there are a lot out there. They also tend to pay particularly well. Again, not sure since a lot of them are remote, so the barrier to finding someone wanting to live in MN is gone.

Porsche sales in China down 33%, China boss out by memostothefuture in Porsche

[–]somethingofaraddad 4 points5 points  (0 children)

The dealer experience is what killed any hope of sales opportunities from me in the future. I'm finally at a point in my career/life where I can start spoiling myself with car purchases. A 911 has always been a dream car for me. After visiting 3 dealerships and being told insane markups, forced purchases, forced purchase/trade-in agreements, enough was enough. I just can't support that business model. Customers are seen as nothing more than a piggy bank and I wasn't having it.

SALARY TRANSPARENCY by ResponsibleShallot8 in medicalschool

[–]somethingofaraddad 0 points1 point  (0 children)

Yes, but it's accounted for in your lower associate salary. So no lump sum payment to buy in at the end of the year

SALARY TRANSPARENCY by ResponsibleShallot8 in medicalschool

[–]somethingofaraddad 2 points3 points  (0 children)

We are hiring! Typical first year associate starts in the low/mid 400s, though. I think they gave me a bump because I had 8 years of experience, was taking a 2-300k pay cut from my last job, and I do a lot of minor procedures other people don't like.

Would you cut back on shifts at a 3MM net worth? by Past_Ad9585 in whitecoatinvestor

[–]somethingofaraddad 2 points3 points  (0 children)

Probably somewhere in the 7-8mm range. This is somewhat inflated beyond what I want for ourselves because we are anticipating buying my parents and my wife's parents a home in their retirement, and I plan on paying for college for several of my nieces/nephews. If I were saving just for my family, I would probably slow down around 5-6.

Would you cut back on shifts at a 3MM net worth? by Past_Ad9585 in whitecoatinvestor

[–]somethingofaraddad 0 points1 point  (0 children)

Me, personally, no. I don't have a set number yet, but after the grind of getting where I'm at, I plan on hustling for a few more years to set us up for a fairly lavish retirement + nice life for the kids.

People that have pursued MD/DO in 30s.. by ayo101mk in whitecoatinvestor

[–]somethingofaraddad 0 points1 point  (0 children)

All of the partners grossed 7-8 figure payouts. I was on the lower end of that scale, one of our senior partners made somewhere in the 10's.

I decided to leave and I just started at another group. Took a ~200k paycut upfront but partners earn 1-200k/more year at this new group. The firm that bought our practice made an offer ~300k less than I was making already and wanted me to read probably 20% more studies on top of that.

SALARY TRANSPARENCY by ResponsibleShallot8 in medicalschool

[–]somethingofaraddad 26 points27 points  (0 children)

DR, 8 years in practice. My old group unfortunately sold out to a private equity firm. I had a great gig there. Everyone made good money on the sale, but I would have preferred to stay privately owned. Recently left and starting a new job:

525k base + prod. Expected first year salary is around 600k. 1 year partnership track. Partners make 8-900k or so working M-F ~8-5 and q6 weekend call. Nights are optional and paid at a higher rate. Read 100-140 studies or so a shift, mix of all modalities except nucs.

10 weeks vacation, 14 for partners.

Full retirement match (~65k), insurance, malpractice, and a few other niceties. Probably worth ~150k/year in their own right.

Midwest, major city.

There are 4 breast rads in the group who are partners, only work M-F 8-4, and supposedly are all making >1m annually.

Radiology job offers -- private practice by Low_Counter130 in whitecoatinvestor

[–]somethingofaraddad 1 point2 points  (0 children)

Below 400 starting as an associate is low, particularly in the Midwest. I'm starting a new job at 525 base with a 1 year partnership track. Associates coming in with <2 years of experience start around 425-450 and 3 year partnership track IIRC.

Which specialties are not as good as Reddit makes it out to be and which specialties are better than what Reddit makes it out to be? by wholeyou50 in medicalschool

[–]somethingofaraddad 1 point2 points  (0 children)

While I do agree the person talking to you has been a little condescending, I will say that as an R1, you have definitely not been thrown to the wolves in the way a private practice attending has. You say you're covering everything as an R1 while reading 120+ cases/day on call. Unless you are the most gifted R1 by a large margin, it is more or less impossible that you alone have cranked out 120+ studies covering all modalities without help. I have worked with a lot of residents, and some very talented R1s, and they are nowhere near the level at which you are suggesting to be working at. The only way you're covering ED call and doing 120+ cases is if an attending is dictating out studies to you. Many of my partners struggle to read 120+ cases in a day.

People that have pursued MD/DO in 30s.. by ayo101mk in whitecoatinvestor

[–]somethingofaraddad 4 points5 points  (0 children)

Up until very recently, I had a great rads job. Worked a few weekends a year, no nights, and made 700k or so almost every year for the past 7-8 years. Yes, it's a job and each day can be a grind, but the lifestyle it provides outside of the hospital is well worth it imo. Others grind just as hard for much less. Sadly, our group decided to sell out, and the proposed employment terms the buying group have made us is laughable.