Rough start

We left Philadelphia and things were looking good for the first 30 seconds.... 

We hit rush-hour traffic and were in a losing battle of time and weather.  I drove the blasted uhaul (26 foot beast) straight down as much as I could.  By 8:30pm it was snowing.  I was supposed to be in by 8:55 and I had so far to go.  Francisco became overwhelmed by the night and snow forcing he and Elizabeth to stop about 80 miles from Hampton Roads.  I forged on with the thought that i would not miss closing on the house or work.   

  I woke this morning to the information that the tunnel was closed and snow would last well into the day.  I made e-mails and texts in order to get the closing on the house accomplished.  Finally, i had an Uber to the notary’s home.  I officially closed and Uber said no cars were available.... i walked through the snow in order to get back to the hotel.  We are now the proud owners of a home loan.  

I found out i was cancelled for work on Friday.  Very happy for the 8 hour guaranteed day!   

This potentially gives me time to get things moved into the house!  Many things to be done!   

All those on the New England coast... be careful in snowmageddon.  

Lessons Learned

As a locum, one must remember the business is part of the game.  Speaking with groups, recruiters, doctors, & CRNAs is part of that.  I’m still learning but here’s what I know so far. 

Keeping doors open can be your best opportunity.   — don’t burn the bridges you traverse frequently.

Understanding the market in the areas your discussing can help you but you may not want to tell everyone that you know the market rates.

Until you have a signed contract you have nothing.  If you sign a contract ... honor it.

Be able to state things clearly but be flexible.

Knowing your abilities and being able to spin them in a good light will help you.

Negotiations for a long contract are possible but the company or group may want an interview just like being full time permanent staff.  

Never stop learning and keep your skillsets.  The skills that you have need to be tended and nurtured so as you continue your career keep your skills up.  If one place has a lot of one but none of the other... the next place should have what you are missing.  

Speaking of skills and education.  Review the CEU tab, State Meetings tab, and if you like us visit the Store for some small items we receive a small royalty on.


To Sep or Solo

A big question asked often is weather to Sep IRA or Solo 401k.  Of course, I must make the statement that I am not a tax or financial advisor of any kind.  Now, I talked to Vanguard about starting a Sep IRA or a Solo401k.  

I talked to a business advisor and not just the personal finance advisor.  I had them and said I'm a 37 year old 1099 earner with my own Llc S-corp with flow through Gross X amount and taxable net income amount of X.   

He said, ok so for a Sep IRA you can do up to 25% (up to 52-54k) business contribution in basically any investment vehicle through a brokerage account.  A Solo401K you can do 25% (up to 52-54k) business contribution plus $18000 personal addition to your 401k.  They will only allow vangaurd funds for the Solo 401K.   These are also different if over 50 years of age.   There are eligible catch-up contributions as well depending on the IRS regulations.  (This is where a tax/financial broker will help.)

I said ok, if I have others in ownership of my company do I have to pay out the same amount or percentage to them?   

Yes, if they are paid owners from your corporation then they will require the same amount as a percentage of their income in retirement for either the Sep or Solo but personal contributions don't have to match. 

No, if they are unpaid. 

So, I clarified again that both are pre-tax IRA investments and should decrease the overall taxable earnings in the future with the understanding that taxable income in the future would likely be less in retirement than right now.  They agreed.   

I have asked for the information on the accounts and will include them as attachments to the Blog if possible.  I will also add the supporting IRS fact sheets for both the Sep and Solok.   

The phone number for Vangaurd Business Solutions is: 800-992-7188

I chose Vanguard based on the discussions on the Dough Roller Money Podcast based on the simplified minimal basis point costs and overall low fee structure.  Low fees and good management history points toward a possible growth in the future despite my negativity on the overall stock market.   

I also have questions on rights of survivorship so will review the forms for potential to rollover on death to other family as a paying IRA in the future.



Individual 401(k) New Plan Kit Vanguard

New hospital day

Today I will go to another new hospital.  I'm meeting them at 6:30 in the lobby and I'm pretty sure it's a 7:30 start.  I've been up for 20 minutes and have a 45 minute drive... so here are my ten minute notes on today.   

I have an 8 hour day today so it's not so long and I know I'll make it through.   

When I drive into the parking lot I'll note the main entrance as that's where I'll meet another CRNA to give me the quick run-down.  Hospital systems are a little harder to just go in and 30 minutes later be in a room.  The "red-tape" isn't just paperwork and long credentialing.  These places require smart ID's to let you in and out, and sign-ins for multiple computers/programs/machines.  Even cases will typically be a couple starter cases to get used to equipment, paperwork, and get to know staff.  

Ok, well I hope your day is awesome... mine will start with a bit of a drive.  Thanks to podcasts at least I have the opportunity to learn a little as I go! :).  

Getting things done.

OK, here is the deal.  I'm on vacation in between contracts in Massachusetts and Pennsylvania.  I am getting alot done on the rental houses to be.  My husband is tired of obliging my desire to do these but always loves just how well my dad gets the homes ready to go.  It is pretty darn impressive.  All I do when I get into town is have a ton of meetings, write the checks, and manual labor of paint, haul, and yard stuff.  Thankfully, Dad was released from the hospital yesterday but I am hopeful this gives him the minimal fortitude to take it a little easier and not stress so much.  However, that means I have to pick up more.  

I was asked, by the client hospital to start a week earlier so now we are trying to arrange this through the agency.  I don't know what the problem could be with doing that.  However, it is a week and while it sounds awesome to my wallet there are a few things to consider. This means no great move-in time or quick vacation to DC/NYC before starting.  It means very few options of dry run to drive to the facility.  It means the first few days will be a mad dash to purchase a few critical furniture pieces as we got rid of in Massachusetts and Kansas as our apartment just shrank a few hundred more square feet.  

All of this said, I still have no PA license and I'm pretty sure that due to the critical need and nature of the contract.  Credentialing should be done and even if not.  Orientation can still be completed.  Locum work is not for the faint of heart as each time it seems to truly come down to the wire for things.  

I am assured on the side of the client group, agency and state that things will all come together but I bring a bit of a pessimists perspective and tend to over analyze.  It's just the opposite with the Rental Homes. The scarier the project and all that needs to be done, the more intriqued I am.  

It's almost 7:30AM. I hope they don't get to mad I'm mowing the yard. Today is going to be a very busy day as we have three homes to get ready.  Tuck U Inn B&B, my AirBNB and then my parents guest cottage all in Aitchison, KS.  Atchison is the birth place of Amelia Earhart and has a large private college (Benedictine College).  I am already looking forward to about 5pm when all has to be done :).  

Best of luck to you in your locum journey.  Let me know what you are doing!