[O.city]

Originally Posted by Buehler445

Oh hell, there are phase outs for student loan interests. Forgot that. My bad.

I'm with you on the money thing. My gross receipts are pretty damn high. My net income is far lower. My net cash flow to management is really pretty dang low. So I'm handling a shitload of money, and trying to hang onto a couple bills as they flow by.

Regarding your debt service, servicing your business debt is paramount. If

you have to borrow money for anything, you will be borrowing against the equity in the business. That's not to say, don't pay attention to your student loans, especially if those rates are higher, but you really need to mind the equity in your practice, especially since it is in an LLC.

If you're good with that, plowing out student loan debt is good, especially if they are at 7%.

I'm glad you're doing well though. I have a friend that graduated vet school a few years ago with somewhere near your numbers. Now she's looking for hardship exemptions and shit. I told her she's way tougher than me. If I wasn't able to service debt, I'd melt down. Like full on nuclear meltdown. That is probably my biggest fear.

I'm also with you on the tired bit. I'm not so much tired of the job. I've worked a metric ****ton of hours, which sucks and I'm trying to do better on, but my bullshit tolerance is used up. Anymore I'm criminally pragmatic, and if you can't help me, or you **** around and waste my time, I might cut your head off. I'm working on that too, but that's a tougher one.

All that being said, I wouldn't change it. I don't miss corporate life. Like at all. Even when I'm working a billion hours.



Cash on hand is a good idea IMO. You'd like to be able to get a return on it, but I try to keep as much cash as I can because it always spends and it's always there.

That being said, if you have a personal emergency, make sure you talk to an accountant and review your operating agreement before you pull your money out and spend it on a non-business expense. Most guys don't give a shit, but I work very hard not to pierce the corporate veil.

Again, I'm really glad you're doing well. I felt overwhelmed with the $35K I graduated with.

I am the owner of the office, the way I understand it, I can do what I need to with that money, if worst comes to worst. It's not ideal from a tax standpoint though.

Yeah, the debt sucks. It is what it is it was about my only option to becoming a dentist. My parents couldn't foot that bill and frankly, I didn't expect them to. I had a golf Scholie for undergrad and with academic stuff, that got me thru undergrad.

We really lucked out in that my wife got into her business at the right time and is doing well, so I'm throwing as much $ at debt as I can. I figure I can be debt free by 35ish, no student loan and no practice debt. If I can do that, I'll flip all that to my retirement and kids stuff.

Or atleast that's the plan