FPSDougie

[FPSDougie @FpsDougie]

@robgraymd It’s hilarious how bad a deal we have.

Imagine a world where a company CEO makes a bad acquisition and the board sues him - personally - for losses to the company.

Then he gets his name in a government database of “bad CEOs” - forever.

That’s the world MDs live in.

[FPSDougie @FpsDougie]

@emperorofhind @MakeitRain478 @ThatEricAlper I was a treasurer for a medium sized physician group for a number of years.

~10% of our clean claims for payment from insurers were denied for no good reason. The vast majority were paid - eventually - though we needed to jump through their BS hoops first.

[FPSDougie @FpsDougie]

@emperorofhind @MakeitRain478 @ThatEricAlper Maybe. But the vast majority of medically necessary care is covered.

If not, then just like any other insurance product you have a contract with them. If they breach it and you suffer damages, you have cause to sue.

Initial denial of payment doesn’t mean they’ll never pay.

[FPSDougie @FpsDougie]

@BignaultJon @SurgeryCenterOK It’s especially painful for anesthesia groups that must extract stipends from facilities / hospitals or be unable to provide incomes that keep providers around.

Especially when those facilities have the oldest, sickest patients having the most complex, difficult care.

[FPSDougie @FpsDougie]

@BignaultJon @SurgeryCenterOK 100%. Medicare decided they’ll pay for the surgery, but not for the anesthesia…and shifted that cost onto the facility. Brilliant.

Don’t know about coerced, but if your facility is OK taking a lot of Medicare/Medicaid, be forewarned your anesthesia stipend will be gigantic.

[FPSDougie @FpsDougie]

@TheAlphaThought Simple

Put it all in VTI today
Keep working

$400k is a good start but a long, long, long way from financially independent

[FPSDougie @FpsDougie]

@dig_deeper1 Sounds great…

if your net worth is close to $0

Of course, if you happen to have a catastrophic illness / accident you’ll need to declare bankruptcy

And if you get cancer, you’ll just be denied expensive treatment until you declare bankruptcy and get on Medicaid

[FPSDougie @FpsDougie]

@gkamstra Is it?

Every strip mall owner apparently gets to see their renters’ revenues and profit margin before deciding what rent is going to be.

It’s crazy.

[FPSDougie @FpsDougie]

@MakeitRain478 @ThatEricAlper Your annual costs are capped

That’s why you have insurance

[FPSDougie @FpsDougie]

@PatrickRuffini How about for people who work for a living and have kids? Can’t show up on a random Tuesday during banking hours.

Nothing wrong with mail in ballots

Or make Election Day a national holiday

[FPSDougie @FpsDougie]

@dtmcdevitt @HeathVeuleman We are approaching our “number” for early retirement - it has given me more courage to say no. Man, it is life changing!

Funny thing is the response is first “but, but, you can’t say no!”, then quickly “how can we get you to yes?”

We have so much more leverage than we know!

[FPSDougie @FpsDougie]

@jaynitx Not a great example. But in marriage, business, life in general…you pick your battles. You don’t always need to win. You’re not always right.

You can have opinions, but sometimes let the other person have their way 100%. You might be pleasantly surprised with the outcome.

[FPSDougie @FpsDougie]

@RetireDividend @money_cruncher What if your old employer terminates the plan?

[FPSDougie @FpsDougie]

@Factual_Scoo @money_cruncher Yep. That 401k money is taxed at wage income rates (high) when it comes out, while the brokerage account is taxed at capital gains rates (low).

I’m glad to have a large brokerage account (1) to sleep well at night and (2) that I don’t need to play these games as early retiree

[FPSDougie @FpsDougie]

@GmOrr9000 @DrDiGiorgio And that’s why so many doctors now advise their own kids to NOT follow in their footsteps.

That was not the case 30 years ago. Not at all.

Has nothing to do with “Obamacare” or EHR. It’s the monopolized, corporate control of care delivery where docs are a cost to be cut.

[FPSDougie @FpsDougie]

@BEisenhart The other massive tailwind US Millennials have is that they *as a generation* are / are going to inherit more wealth than any group in human history.

It’s not coming today, but in their 40s/50s…it will be massive. Massive.

[FPSDougie @FpsDougie]

@BEisenhart As a millennial you still can do very, very well for yourself…but just “going to a good college” isn’t going to do it. You need to choose a profession that provides value.

For W2s, doctor and pilot are probably #1 and 2. Most people don’t have the ability to do it though.

[FPSDougie @FpsDougie]

@Rory_Johnston It’s playing out like the 1970s oil embargo. Oil ignored reality for months. Months. Once the gas lines hit, prices in western markets went ballistic.