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Everything posted by ploughboy

  1. Stop catastrophizing and join some sort of co-ed sports league.
  2. Probably want to talk to an accountant about this. When you're into six figures, there might be ways to structure it more advantageously. Or at least get a small piece of infrastructure named after yourself by your appreciative recipient (if you're into that). But I don't know, mostly because I don't have a hundred large burning a hole in my pocket every year. You might not, either. While $350k per year sounds like an outrageous amount of money, by the time you account for overhead, taxes, mortgage, debt repayment, insurance, retirement savings etc it will likely be a lot less and you might not have a spare $8300 per month to donate to charity. More power to you if you do, but make sure you've done the math.
  3. Don't count on institutional amnesia as part of your match strategy. I once walked into a fellowship interview at a school where I didn't match for residency, and a member of the interview panel was the PD of the residency that I didn't match to. He remembered me. It was awkward.
  4. Stuck in the middle of the ocean on a ship full of decrepit octogenarians and limited medical resources at hand. What could possibly go wrong?
  5. As others have mentioned, too many variables to say for sure. But when in doubt, do a home school elective.
  6. Youth is wasted on the young.
  7. Ya, our group shares a billing agent. Well worth it. Tick-box billing sheet with a space to add extra codes. Handy-dandy double-sided laminated sheet at the desk showing all of the typical procedure, time-of-day premium etc codes. (I also have the schedule of benefits on my phone, in case there's something I want to confirm). She submits it, deals with OHIP when they won't pay up (always a couple of patients a month, seemingly at random) and saves us all a bunch of time and hassle.
  8. You also have to have the income to justify it. No insurer is going to sell you a $25k/month policy if you only make $15k per month.
  9. Ya, I was just making a joking point that having to pay for a great big disability policy is one of those 'good problems' to have...
  10. I'd love to be paying those premiums... (but I don't have an $890k yearly earned income to protect)
  11. The hospital lets the surgeons tell the patients they'll have to wait...
  12. OATC has a clinic in Lindsay. Is there enough of a market (for lack of a better word) to support both clinics?
  13. LOC insurance benefits nobody but the bank. On the flip side to not getting some term life as a medical student, the counter-argument goes something like "you might not need it yet, but life circumstances can change and you can get $100k for cheap (?for free from OMA insurance) so why wouldn't you".
  14. If you're living the single, no kids or other dependents lifestyle, there's an argument to be made that you don't need life insurance You're dead, you didn't need to provide for anybody else, nobody else is liable for your LOC and it's the bank's problem. Different situation if you're disabled. In the unlikely but catastrophic event that you suffer an acquired brain injury, or a c-spine injury, or develop some weird auto-immune thing that makes it impossible to complete your entire training, the last thing that you and your family need is to be worrying about paying for your long-term care. Get disability insurance.
  15. MDM used to be my 'go to' for advice specific to Canadian physicians. I didn't have any money with them, but went to their talks and met with their advisors a couple of times. They seemed to get the issues physicians face, more-so than generic financial advisors. Probably saved me quite a bit of money with some situation-specific advice in the last couple of years. Since the Scotia buy-out, there's been a lot of turn-over at the local MDM office. I have my suspicions about the significance of that. Agree that their management fees don't justify their returns, and I've never given them any of my money to play with. Specific things to ask about as an M1. Insurance: disability and maybe term life depending on circumstances . Budgeting, especially thinking ahead toward away auditions electives in M3/M4. Probably no point in talking about investing, as you're likely to be living off credit and your "investment" for those years is your brain. Don't know if OP should start with the PFI Facebook page. Maybe reading their Reference List (a pinned announcement) would be a good place to start, but diving right in to the discussions might not be high yield for an M1. A lot of that page is more applicable to docs in practice or at least residents. If OP doesn't know a lot about finance then a general, preferably Canadian, personal finance book would likely be the best place to start. Something like The Millionaire Barber, or The Wealthy Teacher, or the Parsimonious Garbageman, or whatever. There's a few of them. Just avoid anything by Robert Kiyosaki.
  16. Second random aside for those trying to budget their expenses as staff: I pay $154 per month for health insurance (OPIP Health Plus, family version, no dental).
  17. You forgot "buy VGRO". In all seriousness, that page is a great source of information and I think every senior resident and new staff (and old staff) should follow it. Occassionally people post things that are flat-out wrong and will get you off-side with the CRA if you do what they suggest. They usually have that pointed out to them in fairly short order, though. Random aside: PGY-6? Congrats, I guess...
  18. Yes, very useful tool if used prudently. Keyword = prudently. And yes, paying it off with 47-cent dollars is painful and irritating.
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