Locums seems to be opening up. Going to quote a high rate to MS and MO, where I have no interest in going unless I am remunerated wildly.
If your lifestyle precludes your insisting on good working conditions, then you're making yourself an indentured servant!The problem with my site is that so many docs have such extravagant lifestyles that they are terrified to negotiate / go PRN / collectively hold out for larger shift bonuses. 3+ kids w ridiculous hobbies, private schools, huge houses in VHCOL areas, Teslas, supporting adult children who have their own spoiled kids, etc etc. Unfortunately for me I work in a state with a **** EM market and am stuck here for familial reasons.
Debt is bondage, and so many doctors are fools.If your lifestyle precludes your insisting on good working conditions, then you're making yourself an indentured servant!
Disagree with the former (under specific circumstances). Agree with the latter.Debt is bondage, and so many doctors are fools.
Sure, that makes sense, absolutely.Disagree with the former (under specific circumstances). Agree with the latter.
There are a large number of docs on this forum who are vehemently opposed to debt in any form. Taking on debt for luxuries I agree is idiotic. That said, I currently have a LOT of debt which I'm very happy about, and am actively accruing more in places.
e.g. I just took 10k out in debt and dumped it into i-bonds. I certainly have the cash to do so, but it's currently being used elsewhere and I'm paying 2.5% interest on that 10k in exchange for guaranteed 9.62% return. I will happily take on debt for the sake of arbitrage (and select other opportunities).
That said, debt without the means of immediately closing said debt is certainly bondage. I could pay off all of my loans tomorrow, but that money is better allocated elsewhere.
Sure but you know that will never happen. That is like saying, the pool cleaner should not take anything under $500/clean so rates will go up.If everyone stopped taking sub-$350 rates, then the market rates will go back up.
Very true, debt is bondage if you are upside down on equity and need a job to fund the payments.Disagree with the former (under specific circumstances). Agree with the latter.
There are a large number of docs on this forum who are vehemently opposed to debt in any form. Taking on debt for luxuries I agree is idiotic. That said, I currently have a LOT of debt which I'm very happy about, and am actively accruing more in places.
e.g. I just took 10k out in debt and dumped it into i-bonds. I certainly have the cash to do so, but it's currently being used elsewhere and I'm paying 2.5% interest on that 10k in exchange for guaranteed 9.62% return. I will happily take on debt for the sake of arbitrage (and select other opportunities).
That said, debt without the means of immediately closing said debt is certainly bondage. I could pay off all of my loans tomorrow, but that money is better allocated elsewhere.
Debt and a high cost of living share something though - they both come knocking every month.Disagree with the former (under specific circumstances). Agree with the latter.
There are a large number of docs on this forum who are vehemently opposed to debt in any form. Taking on debt for luxuries I agree is idiotic. That said, I currently have a LOT of debt which I'm very happy about, and am actively accruing more in places.
e.g. I just took 10k out in debt and dumped it into i-bonds. I certainly have the cash to do so, but it's currently being used elsewhere and I'm paying 2.5% interest on that 10k in exchange for guaranteed 9.62% return. I will happily take on debt for the sake of arbitrage (and select other opportunities).
That said, debt without the means of immediately closing said debt is certainly bondage. I could pay off all of my loans tomorrow, but that money is better allocated elsewhere.
You mention you have a LOT of debt, how much do you mean? You’re in debt millions?Disagree with the former (under specific circumstances). Agree with the latter.
There are a large number of docs on this forum who are vehemently opposed to debt in any form. Taking on debt for luxuries I agree is idiotic. That said, I currently have a LOT of debt which I'm very happy about, and am actively accruing more in places.
e.g. I just took 10k out in debt and dumped it into i-bonds. I certainly have the cash to do so, but it's currently being used elsewhere and I'm paying 2.5% interest on that 10k in exchange for guaranteed 9.62% return. I will happily take on debt for the sake of arbitrage (and select other opportunities).
That said, debt without the means of immediately closing said debt is certainly bondage. I could pay off all of my loans tomorrow, but that money is better allocated elsewhere.
Across all sources of debt? Yeah, over 1M. All at an interest rate between 0.99 - 3%. Total assets ~= 2-3x debt amount.You mention you have a LOT of debt, how much do you mean? You’re in debt millions?
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Across all sources of debt? Yeah, over 1M. All at an interest rate between 0.99 - 3%. Total assets ~= 2-3x debt amount.
I just can’t wrap my brain around debt/leverage to artificially inflate my net worth. That’s prob why I’ll die poorer than all the other finance gurus in here. I’d never be ok in debt to my eyeballs and if I suddenly died 75% of my net worth is automatically sold at the lowest bid to pay off my debt with what little remains left to my loved ones.
I think that’s why I’ll never be a real estate guru and probably to my own fault. Even with my brokerage accounts I try to keep leverage at a minimum.
I can’t stand debt.
Debt free is more of a mental state of mind rather than a true economic reality.I feel there's a lot to be said about the feeling of being debt free. Id argue the massive stress reduction of being debt free is worth more than the trivial gains of debt leveraging.
How much are you having to put down with your own money to get these loans? Do you use various lenders or your own bank?Debt free is more of a mental state of mind rather than a true economic reality.
People would look at me and be scared of how much debt I have - 2.6M
My homestead has 650K note @2.5%
My investment properties have around 2M including just taking on another 500K with avg note of 4%
But I consider myself debt free, even though technically I am high on debt. My business is debt free and my share is prob worth 3M. My home is worth about 2M. My properties about 6.5M and generate yearly profit.
I could sell my most valuable property and pay off all of my debt.
I am not scared of debt esp with rates that is essentially a free loan. I understand the aversion to debt but I look at it as a tool rather than a burden. If interest rates ever get under 3% again, I will be refinancing all of my properties and pulling out 3M to invest.
There is nothing special about these rates. My homestead was from a doctor's loan 10 yrs ago. The investment properties were mostly bought in the past 7 yrs and rates were hovering around the 4% mark.How much are you having to put down with your own money to get these loans? Do you use various lenders or your own bank?