Trade in 3rd gen Limited for TRD-OR??? Should I...

I thought about this thread a bit more last night, especially with regard to the allegations that a person who makes 400k/year should be buying something nicer. Doesn't Warren Buffet drive an old beater? And why can't a person of means buy a Tacoma? They're pretty cool trucks.

I'm not bringing in anything close to 400k, but could have bought pretty much any vehicle I wanted. I chose the Tacoma. Let this guy do what he wants. If you have some constructive advice - which many of you do - give it. If you just want to get on and flame this guy, please ask yourself why you're doing it.

 

Ok. If one sticks their head far enough up their own ass can you save the cost of a colonoscopy? This could potentially drive down health care costs substantially.

 

You guys should read the book "The Millionaire Next Door." Lifestyle doesn't necessarily correlate to income level or net worth. There are some pretty amazing facts in this book that would wake up some financial eyes.

 

Wait. You were thinking about this last night? This is no longer funny. OP you need to end this thread right now. Remember you took a hippocratic oath.

 

You just brought funny back.

 

Not that I want to get into a financial argument here because it kind of been like beating a dead horse here already. But with that said, your math is a little off. For one its actually 1.45% in Medicare, the 6.2$ for SS is only on $118,500 for 2015, so anything over $118,500 is not taxed for SS. So with those adjustments is take home income for the year is actually closer to $220,000 ( I know, I know $20,000 more big deal) But again, with that said, if he is putting to retirement like he should be then his federal tax is actually lower because 401(k)'s are pre-tax deductions.

Now, married and he said he has 3 kids, so with the standard deduction on his tax return, and the exemption phase-out for his income level, he's actually looking at $38,000 refund using your calculation of 35% Fed Withholding. So if he can in fact itemize now all of the sudden that refund is a lot higher. With that said if his accountant is worth a damn, they've had talks on getting him closer to even on his tax return, so with a W-4 adjustment, he can now have that $38,000 spread out monthly over the year and break even on his return. Now all of the sudden, my calculation is up $58,000 over yours, about an extra $4,800 a month give or take.

Now again with all that said, we have no idea if he is a W-2 employee or a partner receiving a K-1, or actually both, maybe paying himself a salary and still receiving a K-1. If he does get a K-1, he is a partner and can draw money out of the business when necessary for personal use.

If you're broke on a $400,000 salary after growing up poor, you're just a moron. I highly doubt this guy is poor. I think he is choosing to roll in a Tacoma because he grew up poor so material possessions don't carry a lot of weight for him. I'm pretty positive he is bank rolling, sitting on a sweet 401(k), putting money away for kids colleges, and probably rocking a nice brokerage account and a IRA or a ROTH.

So OP, I say take the hit get what you want.

 

Lol ... my wife is an OB/GYN, I'm an engineer at Ford ... this thread is good for laughs. Everyone is really analyzing this shit way too hard. Either people are or they aren't what they say on the internet, but who cares ... There has been so much analysis of finances in this thread it's kind of hilarious. Personally, I've met a lot of physicians, but if OP can't figure out what truck he likes, I'm glad he isn't my doc.

 

But how much do you make?

 

$1

Can anyone tell me which truck I should buy?

 

We haven't even figured that out for the Doctor yet. Wait you turn.

 

Dang.

 

Ford Ranger!

 

Did we get to the bottom of the 400k yet?

 

I wish ... Ford isn't going to be able to make them in North America until 2018. They are are moving production of some other vehicles that are made at one of the NA plants to a different plant in Mexico (I guess still Made in America technically lol ... sigh), and that frees up the plant here in the States for a different production line. Rumor has it that it may be the Ranger, but I'll believe it when it happens...

I actually just saw an access cab with the diesel and 6spd MT the other day in one of the testing facilities, and it was pretty sweet Another cool vehicle they only sell overseas is the Ford Everest:



But yea, I really wish they sold some of this stuff in NA, but I guess I'm the only one ... and I don't run the place, I'm just another cog in the machine, so what can I do ¯\_(ツ)_/¯

 

Based on my understanding of the posts above after taxes, loans, braces and 401k savings the doctor has exactly $17.48 per month in discretionary income.

 

Really? You're blaming the failure of half of private practices operating in the red due to lack of common sense of the practitioners running the practice? Basically calling them idiot savants?! WHere's you're data supporting this? Ever hear of managed care and know what it is? Id' say that has more of a part in the reason most PCP's don't make much money. The docs that make money in addition to the ones that you mentioned usually work in a very small sub speciality. Interventional radiology, neurosurgery, anesthesia, radiology, etc. Also, lots of docs in some specialities that you would think would make a lot don't. Hospitalists, ID, renal, and pediatrics don't get paid. Being a doc isn't what it used to be, and the pay scale isn't because these docs "don't know how the world actually functions." It's ignorant comments like yours that show that you really have no clue how the medical field/health care actually functions. Do you even work in health care?

 

Let's not jump to any conclusions now. Sometimes, when a person is raised in poverty, and then make a very nice income as an adult, they go crazy with material possessions as a way to "tell" all the bullies from grade school, "f off, look at me now". But you could be correct because others in that situation save money like a miser because they fear being poor again some day. I say we send him to a therapist and find out which psychotic mental issue he has.

 

Oh, do tell!

 

Fuck that, I'm not owning a Chevy. I have standards.