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Re: Advice from physicians...
Old 11-02-2006, 07:11 PM   #81
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Re: Advice from physicians...

Quote:
Originally Posted by Azanon
I want a decent challenge, you guys are too easy. Come back TH!
I'm not TH but he left a quote for this situation: "Dont miss it a bit. Wouldnt piss on either of these guys if they were on fire."

I'll let you figure out who the other guy is...
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Re: Advice from physicians...
Old 11-02-2006, 07:15 PM   #82
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Re: Advice from physicians...

Quote:
Originally Posted by Nords
I'm not TH but he left a quote for this situation: "Dont miss it a bit. Wouldnt piss on either of these guys if they were on fire."

I'll let you figure out who the other guy is...
I don't miss him either.

JG
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Re: Advice from physicians...
Old 11-03-2006, 02:38 AM   #83
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Re: Advice from physicians...

Hey guys,.. Scout here,
Can anyone give some advice as to whether or not my wife and I should get Disability Insurance?
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Re: Advice from physicians...
Old 11-03-2006, 03:10 AM   #84
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Re: Advice from physicians...

Quote:
Originally Posted by Scout
Hey guys,.. Scout here,
Can anyone give some advice as to whether or not my wife and I should get Disability Insurance?
I always opted to skip it if I was paying. My theory? I saw that I could suffer quite a lot of damage and still produce income as long as I could type and talk.

JG
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Re: Advice from physicians...
Old 11-03-2006, 09:47 AM   #85
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Re: Advice from physicians...

Quote:
Originally Posted by Scout
Hey guys,.. Scout here,
Can anyone give some advice as to whether or not my wife and I should get Disability Insurance?
I think so.............see other thread you started.
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Re: Advice from physicians...
Old 11-04-2006, 07:12 PM   #86
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Re: Advice from physicians...

My #1 piece of advice would be to live below your means for awhile (probably what others said before me but I didn't have time to read all the posts). The biggest mistake I see the greatest number of physicians making is that they spend every penny they earn, mostly on cars, vacations, and bad investments. As far as bad investments go, the smaller the town you live in, the more of a target you will be for people trying to "steal" your money. Drive normal cars, take low key vacations, and stick your money into index funds, and you will be fine. Who cares if the surgeons all drive BMWs or Porsches, they are probably in debt and/or have no significant savings. Just know that at some point you will feel pressure from that and you will need to resist it. #2 is don't get divorced. If you are in a high property tax state, #3 might be to buy a moderate sized family house, rather than a mansion. Private school for your kids is fine.
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Re: Advice from physicians...
Old 11-07-2006, 07:11 PM   #87
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Re: Advice from physicians...

I agree with the idea of watching your spending.

I think your post was interesting cause it seemed like you think 40 is really really old. We dont give out canes at 40. Plus you dont have to max out but you can work some extra shifts. I also wonder if you have already put away 200k or your just saying you could?
Anyway I think the thing is balance. I would work a few extra and see where you find the correct fit. Its not like working 15 out 30 days would mean you wouldnt have time to enjoy things.
You cant see everything in Black and white or is it Purple >?

I also wonder why its an issue to self insure, but thats a topic for another thread or is it ?

(not an md but a hospital pharmacist )
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Re: Advice from physicians...
Old 11-08-2006, 09:51 AM   #88
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Re: Advice from physicians...

Quote:
Originally Posted by spideyrdpd
I agree with the idea of watching your spending.

I think your post was interesting cause it seemed like you think 40 is really really old. We dont give out canes at 40. Plus you dont have to max out but you can work some extra shifts. I also wonder if you have already put away 200k or your just saying you could?
Anyway I think the thing is balance. I would work a few extra and see where you find the correct fit. Its not like working 15 out 30 days would mean you wouldnt have time to enjoy things.
You cant see everything in Black and white or is it Purple >?

I also wonder why its an issue to self insure, but thats a topic for another thread or is it ?

(not an md but a hospital pharmacist )
My dad is a retired pharmacist............
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Re: Advice from physicians...
Old 11-08-2006, 08:01 PM   #89
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Re: Advice from physicians...

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Originally Posted by spideyrdpd

I also wonder why its an issue to self insure, but thats a topic for another thread or is it ?
I seriously considered buying a 10 or 20-year term policy a few years ago. Started crunching the numbers. Same with a LTC policy. In the end, decided that I was fine just self-insuring against it, since I have quite a few years to go until my likely demise/trip to the nursing home/home care.
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Re: Advice from physicians...
Old 11-09-2006, 11:02 AM   #90
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Re: Advice from physicians...

Quote:
Originally Posted by MooreBonds
I seriously considered buying a 10 or 20-year term policy a few years ago. Started crunching the numbers. Same with a LTC policy. In the end, decided that I was fine just self-insuring against it, since I have quite a few years to go until my likely demise/trip to the nursing home/home care.
Wondering how you are so sure about that? Accidents can and do happen, just need to keep that in mind..........
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Re: Advice from physicians...
Old 11-09-2006, 02:34 PM   #91
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Re: Advice from physicians...

Quote:
Originally Posted by MooreBonds
I seriously considered buying a 10 or 20-year term policy a few years ago. Started crunching the numbers. Same with a LTC policy. In the end, decided that I was fine just self-insuring against it, since I have quite a few years to go until my likely demise/trip to the nursing home/home care.
If you can self insure your life insurance, you don't need life insurance.

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Re: Advice from physicians...
Old 11-10-2006, 11:12 AM   #92
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Re: Advice from physicians...

Quote:
Originally Posted by saluki9
If you can self insure your life insurance, you don't need life insurance.
Agree. When I first read his post, I mistook it for DI coverage, which I think IS a necessary cost at this point in his life............
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Re: Advice from physicians...
Old 11-10-2006, 02:31 PM   #93
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Re: Advice from physicians...

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Quote from: MooreBonds on November 08, 2006, 08:01:59 PM
I seriously considered buying a 10 or 20-year term policy a few years ago. Started crunching the numbers. Same with a LTC policy. In the end, decided that I was fine just self-insuring against it, since I have quite a few years to go until my likely demise/trip to the nursing home/home care.


Wondering how you are so sure about that? Accidents can and do happen, just need to keep that in mind..........
1) I'm not married. I thought about buying a life insurance policy to benefit my charity beneficiaries since an early death would result in me being able to leave them less.

2) Based on my financial position (age 29, current NW $620k, projected 2007 end-of-year NW $1160k), even when (hopefully not if ) I do find that special someone and get married, there would be no reason to insure my life since if I die soon, the family would have just as much from the insurance policy (assuming a $1MM policy) as they would from my total NW.

3) I've priced up one or two LTC policies. If you want inflation protection, it's fairly costly..and even then it will only pay out so much for so long, with a minimum 30/60/90 day activation period, and for only so many years (wouldn't really want to pay for an unlimited years LTC policy), I figured I'd keep the cash now, invest it at 7.5% or so long-term, and let it grow and take my chances. Compared to life/health/car/homeowner's/umbrella insurance, I don't feel that LTC quotes are as transparent or as easily quantifiable or as easily analyzed given the premiums. As such, I don't feel comfortable forking out the premiums for it.

I suppose I view it similar to disability insurance. LTC and disability are somewhat similar in that you don't usually hear (at least, I don't) of many people talking about someone they know that has made a claim on LTC or disability. Sure, I know that they are out there, but I get the feeling that when you combine the various catches/clauses in dis/LTC, add in the cost of the policy, and I just can't as easily relate it to my analysis as I can a relatively simple health/life policy (i.e. no question of the value to your heirs if you die...but what is the cost/benefit of losing an eye, or an arm, and is my insurance premium worth it given what the insurance company might pay out. What if I just lose partial function of my leg?).

I'm not opposed to complex analysis - I just don't get the feeling that, given my circumstances, it would be worth the insurance premiums. Sure, it's a risk, but one that I'm comfortable taking, with a downfall that isn't as severe as it could be for many others.
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