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Review: Refinancing with Credible for Doctors

02.02.16 // Finance

Like the ACA healthcare marketplace or Kayak, Credible isn’t actually lender itself. It’s a student loan marketplace of (currently) 9 vendors that allows you to apply to multiple companies simultaneously and compare rates (and terms, monthly payments, total payoffs, etc).

Pros:

  • Polished interface
  • Easy initial application process
  • Ability to compare rates from multiple lenders simultaneously
  • Saves time versus applying to all lenders separately

Cons:

  • Several big players are missing (enumerated here), which means you’d still have to do some separate standalone applications if you want to ensure you’re getting the absolute best rate.
  • Neither of the companies that have refinance programs tailored to residents are included, meaning that Credible isn’t a viable option for most residents yet.

Bottom line:

If you’re a busy attending who has been putting off refinancing because of the hassle, Credible is for you (yes you, I know you’re out there). Several of the big players are included and you can do the preliminary application in minutes and get a rate comparison within a day or two. Once you pick your lender, Credible sends over your application and documents and you’re turfed over to that lender to finalize the process as usual.

If you’re serious about getting the very lowest rate, Credible by itself may not be sufficient. While most lenders have similar rate ranges, you can’t predict who will provide the best, so you’d still have to apply to several of these guys not in the marketplace yourself for thorough comparison shopping. In this case, you could still use Credible to save some time by applying to several lenders together, but then giving up $100-300 referral bonuses in some cases may not be worth it to you.

If you’re still a resident or post-match MS4, Credible isn’t for you (yet). I’m told there are plans for some resident-friendly plans in the future, but the two current players in this arena aren’t part of the marketplace.

 

A Few Lessons from Becoming a Mom in Residency

01.29.16 // Parenthood

This is the very first guest post ever on this site, and it comes from none other than my awesome wife. Thanks for sharing your experiences and insight!

I’m the type of girl who likes to be prepared. Give me a test and I will highlight, notate, and study my anxieties away. Years of pre-med, med school, and residency have solidified this routine and have turned me into a preparation machine. So naturally, when I got pregnant in my 3rd year of residency, I hit the Internet to start studying up.

What to expect? How do I let my program know? How will this affect my patients? My career? What will it be like when I return from maternity leave as a newly minted mom?

I was met with endless blog posts detailing how to make the perfect goody bags for my delivery day nursing staff and hundreds of lists about just how many pairs of socks my little one would need. So like the perpetual student that I have become, I spent many restless nights studying these posts, comparing their merits, and trying to fit all of the information together in a way that made sense in my life.

This helped, in that I was so busy reading, comparing, and consolidating this information in between my busy clinics and residency life that I didn’t really have much time to be anxious about the inevitable changes around the corner.

I suppose it’s no big shock that being pregnant and then being a mom during residency still brought quite a few surprises that I had been unable to prepare for. So many moments that made me wonder, “why didn’t anyone tell me about this?” So here it is, a list of things that I wish someone had told me. For preparations’ sake.

Telling your program director

Let’s get this party started. Telling people makes it real, right?

I told my PD that I was pregnant at around 15 weeks. This ended up being good timing because it was early enough that schedule changes and coverage could be arranged but not so early that even speaking to people made me nauseated. Thank you, morning sickness.

Good timing aside, there were still some hurdles involved in divulging my growing secret. Medicine is filled with many types of people, including those that say things like “you’re so lucky that you get to have such a long vacation” when referring to the postpartum weeks.

I found that while these remarks made me furious, they were thankfully relatively rare. I’m not sure how to prepare you for the haters except to say that I think that these comments come from people who simply don’t “get it.” And that’s fine. They don’t have to get it. You’ve got bigger things to worry about (see below).

Luckily, my PD was very supportive and excited for me. In fact, he even encouraged me to run for chief resident despite being pregnant (elections fell in my 39th week), explaining that it might be hard at first but if it was something that I wanted to do, it would be something that would ultimately make my time at work more fulfilling. This advice didn’t exactly ring true immediately, especially when I was making schedules just a couple of weeks postpartum or coming back a week early to run intern orientation. However, despite these initial bumps, his words ultimately served me well. I have found that while it is incredibly hard to leave my baby to go to work, doing meaningful work that I enjoy makes it a bit easier.

While I don’t suggest that every pregnant resident run for chief, I do think it’s worth mentioning this sentiment: Not all hours of work are created equal, and setting things up in a way that is fulfilling to you, may make it (a little bit) easier to go back to work come the end of maternity leave.

I recently picked up Cheryl Sanberg’s Lean In. In her book, she encourages women to “lean in” to their careers and reach out for leadership positions. I’m still trying to figure out exactly how much I actually want to lean in or out as I apply for post-residency jobs, but her perspective was interesting and helped me think about what it actually means to be a working mom and helped me make these decisions. (Ben: she ended up deciding to stay on at our academic institution as faculty)

Note: when I say, “recently picked up” and “book,” I actually mean, I listened to this audiobook on Audible while nursing, pumping, and driving to daycare. (Ben: You can actually get two free audiobooks as part of a free trial membership via that link. Audible seriously changed our lives).

Which brings me to my next topic:

Nursing & Pumping

You would think that a medical degree might have prepared me for this somehow, but it didn’t, which sucked (pun intended).

Did you know that physician moms are more likely to start nursing than the average woman, but also much less likely to make it to 6 months 198% start in a small study with only 12% making it to a year. This is kind of weird because the AAP and the WHO recommend nursing for at least a year (and beyond). So why are we more likely to stop than Jane Doe?

There are probably several reasons, but I will say that pumping is pretty tough. In fact, at first, it felt impossible. I felt embarrassed when telling attendings that I needed to go pump. When I did, I was actually usually met with support, but often some confusion. “Maybe you can use this closet?”

I have pumped in mailrooms, the copy room, closets…etc. Interesting to say the least, if not particularly pleasant. And with a high likelihood of someone walking in.

Also, I went back to work when my son was 2.5 months old and still nursing frequently, so in order to keep up my supply and be comfortable enough to actually work, I needed to pump several times a day.

Luckily, with time and with the advice of many other physician moms, I learned some tricks of the trade and this all got much easier.

  • If you want to pump, you have to ask. Or rather tell. Most people don’t know what you need. Even if they want to be supportive, they don’t know the logistics of how much time you need and where you can actually pump. So you need to be pretty proactive here. You aren’t doing this for you; you are doing this so that your baby has something to eat. And that’s important.
  • Most hospitals actually have a lactation room for staff, and some even have hospital-grade pumps you can use in these rooms. The OB floor nurses usually know where these rooms are so call ahead and you might get lucky. If you’re mostly working outpatient, you may find that pumping in your office while charting is the way to go.
  • Hands-free pumping bras are everything. I mean everything. You can pump AND chart or play on Facebook all at once!
  • Pumping can be done in the car (or really most places). I bought a nursing cover and an adapter for my car. This saved lots of time and made me feel super efficient and flexible. Also, several other physician moms have recommended freemies for pumping in the car and even in the OR or during rounds. Apparently they are super discreet, though I haven’t tried them.
  • Things can make your life easier. There are a whole bunch of products on the market designed to make pumping and nursing easier. In my case, I felt like if I could spend a couple of bucks and suffer a little less, then I might as well try. So I definitely “tried” a lot of different products. The things that I actually found to be helpful (in addition to those above) were soothies, nursing tanks (which I continue to wear under my clothes every day), boppy, and disposable (and eventually reusable) nursing pads.
  • All in all, while nursing may be natural, it’s not easy. It can definitely be worth it though. Just know you aren’t alone in the initial blahness of it all.

Childbirth & Recovery

Speaking of natural things that aren’t easy…childbirth (AKA another thing that my MD was useless for). Between not wanting to head to the hospital because I wasn’t sure if my contractions were psychosomatic or false labor and knowing what every decel could mean, I would say that maybe that my MD was actually a hindrance.

Interestingly though, it was not really the childbirth part that I found to be the hardest, it was the recovery. I vividly (probably too vividly) remembered the vaginal births and c-sections that I “got to” watch and participate in during med school, and I even remembered seeing several women at their 6-week postpartum appointments. What I did not know is what happens in between those two time points. In fact, I have spoken to several obgyns who said that they were shocked at how little they were prepared for their own postpartum recovery.

I will spare you some of the details, but just know that everyone feels like crap during these first few weeks. Whether you are recovering for surgical sites or tears, you’ve got some healing to do (healing down there, discomfort from milk “coming in,” and exhaustion).

Years of residency have taught me to just grin and bear some general discomfort, but in this case, I don’t think that is a good lesson. I think this is a good time to be selfish and ask the people who love you to do some stuff for you and help you out. I didn’t do this and deeply regret it. At this point, we are hardwired to try to do things on our own and to prove how strong we are. But then we just hurt ourselves in this case. Healing is much quicker if you allow yourself a little rest. So buy the creams, soothies, gel packs, ice packs, fiber gummies, and spray bottles and definitely take some pain meds. You’ll feel like a human again soon. And if you happen to come across a med student at your 6-week appointment, maybe do her a favor and tell her what you’ve been up to these past few weeks.

Daycare

Research your daycare options as soon as possible (even before you’re pregnant). Then apply to join as soon as you possibly can. Waitlists can be long and unforgiving. Our original first choice daycare had a 2-3 year wait when we put down our deposit at 13 weeks. Applying before we even had an anatomy scan, we thought we were on the ball—clearly, we weren’t. And yes, every daycare demanded a nonrefundable deposit (150-300 bucks) to hold a spot on the waitlist. We spent $1000 just to have the chance to give someone more money. We thankfully lucked into a fantastic (and expensive!) daycare that we love. We’re still on the waitlist for the others that didn’t depress us. Daycare is cripplingly expensive, but you really want to be the early bird.

Disability & FMLA

At my institution, I was required to file for FMLA through the hospital’s disability insurance company. This was a gigantic hassle. I got multiple emails asking me to let them know the exact date of my delivery in the months leading up to my leave. As I am merely a psychiatrist and not a psychic, this was hard to do beyond providing them with my tentative due date over and over again. Since my due date was on a weekend, this became doubly confusing to the multiple people required to stamp their approval. Even despite this, I still had to spend hours on the phone repeating these same dates to multiple people in order to make sure that my “files” we’re correct. All this chaos and drama was for something that happens literally all the time and really shouldn’t be particularly confusing.

Now as I am applying for my Texas medical license, all of these same forms and dates are resurfacing in order for me to prove that I did indeed have a child and I was not just MIA for two and a half months of residency. (Ben: This process also took months as despite her finest efforts, a bunch of forms were still wrong.)

Lessons learned: Make copies of everything, even if it seems straightforward at first. Be prepared to fill and re-fill out forms and sit on hold.

Depending on your disability insurance, some people can file for temporary disability and get partial pay for their maternity leave. I signed up for the most extensive disability insurance provided by my institution, and I still didn’t qualify (I would have gotten two weeks partial pay for a c-section). You may have better luck if you’ve already purchased on your own separate disability policy. Read the small print in your plan and maybe you’ll get lucky, but if you know you won’t qualify, there’s no point in wasting your time with all the paperwork. I spent countless hours filing disability paperwork after one representative told me I would qualify, only to have the whole thing denied later and a significant part of my postpartum energy expended fruitlessly.

While normal pregnancy recovery would only ever qualify for short-term disability insurance, the time before you get pregnant would also be a really good time to grab some quotes for regular long-term disability insurance and see if you can afford it. You really need it, and you’ll probably never be more insurable than you are now.

Dealing With Self-Doubt

I recently got some good advice on this matter in an unexpected setting: residency didactics. Our lecturer was discussing the importance of creating secure attachments for babies and then stopped and said something like, “The caveat here is that the mom needs to feel like she’s doing the right thing. Babies can sense that.” He went on to ask if any of us had ever had a baby who didn’t sleep “well” or eat “right,” and whether or not we had ever tried consulting the Internet on these matters. Most of my class had not. I, on the other hand, have already accumulated some serious experience turning to the Internet and returning confused and dejected about my parenting choices. He argued that now more than ever it seems that there is no “right” answer for just about everything that has to do with child-rearing and that the constant barrage of “advice” and seeming perfect Instagram pictures of everyone else “doing it right” has left us all feeling insecure and lost.

He went on to say that one of the most important ideas that he has garnered from the field of child psychiatry is that feeling like you are doing the right thing is the best thing that you can do for your child (as long as what you’re doing is within the limits of safe and reasonable child-raising practices). He pointed out that most babies come out OK despite humongous differences in people’s choices regarding discipline, feeding, sleep training, etc, so long as they feel loved and cared for. A key step in eliciting this feeling is just realizing that you are probably good enough and that you are doing the best that you can.

Help

One of the best things that you can have when trying to raise a baby through whatever you are going through is some kind of help (and in my case a partner). Family is great, but an awesome helpful spouse is a huge part of surviving and enjoying those first few really tough months, both for handling things around the house but also for emotional support. If you have money to spare, other people have sworn by their various hired help, from nannies to house-cleaners and laundry services.

Lastly, here’s  a list of some other random things we bought that made our life easier in taking care of a brand new human:

  • Halo sleep sacks (we tried every other brand as well, but these are the only ones that he liked sleeping in and didn’t break out of)
  • All kinds of wipes (Madela cleaning wipes, paci wipes, sensitive tushy wipes, hand & face wipes)
  • Microwave sterilizing bags (though we eventually got a bigger microwaveable sterilizer and use the bags on trips)
  • Milk pumping bags (Ben: I like the nuk ones the best)
  • Lanolin
  • Burpie cloth bibs (these ones are expensive but awesome)
  • Keekaroo wipeable changing pad or cheaper equivalent
  • Mam Pacis (the only kind he ended up taking)
  • Car seat toy (Ben: The little one was insane for this very hungry caterpillar. They were best friends for months.)
  • Infant car seat (portable/carryable and the lighter the better, not just a convertible seat; you don’t want to have to wake a baby that fell asleep peacefully in the car.)
  • A mechanism to attach car seat to stroller (Ben: This was the most important part; again, you really don’t want to have to wake a baby that fell asleep peacefully in the car. The stroller you buy will work with some brands and/or use an adapter but may not work with all)
  • Rocker? Sad to say our little guy wasn’t very interested in his. We wish we had splurged for the Momaroo, which seemed ridiculous at the time but in hindsight may have been worth it for the extra sanity.
  • Step and Play and walk-about / pushing walkers (when your little one can hang out in one of these for a few minutes, you can finally get some stuff done!)

The Best Book for the Texas JP Exam

01.22.16 // Medicine

Update 2024:

Yes, it’s still up-to-date, and yes, it remains the go-to resource for the JP Exam.

Update 9/1/2019:

The Exam is now online. It’s 50 questions taken over 60 minutes and costs only $34. You can take it from the comfort of your own home, and my book remains the go-to resource for thousands of physicians.

This book remains the de facto standard prep material for the JP exam. While you can definitely spend more money and use more resources, you absolutely do not need to. The TMB official materials are $99 and ultimately uneccesary.

Update 4/30/2016:

Within the first two months of publication, my book has become the “#1 bestseller” in the jurisprudence category (less impressive than it sounds I assure you) and received a slew of reviews on Amazon, all 5-stars. The consensus via the reviews is that this is indeed the “best book” for the exam (for which I am both grateful and extremely pleased!).

Okay, that post title is biased (see below), but here it is: The Texas Medical Jurisprudence Exam: A Concise Review.

When I applied for my license in 2013, I searched for the best way to study for the Texas Medical Jurisprudence Exam and was pretty surprised at the state of affairs (you can read my study recommendations here). There was an expensive $200 online course (i.e. narrated powerpoint) with terrible voice acting and a painfully juvenile script. There were expensive textbooks that cost $100 or more and were hundreds of pages long. And there was one affordable option: a $20 effort with a $3 Kindle version that amounted to a long list of facts written in legalese without any attempt at emphasis or context. All of this was for a $58 (then $61) pass/fail test primarily based on common sense that takes less than an hour. You could pass the JP exam with any of them, but none really hit the sweet spot. I left the test thinking that there was an unfilled niche for a study guide that was concise, readable, and reasonably priced.

Then, despite its brevity, it took me two years of intermittently hard work and countless hours to actually write it, fact-check it, and publish it.

So, my first “book” is now out and you can buy it right here.

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My goal in writing this book was to make something that you could read in a single sitting that covered the salient points needed to pass the Texas JP exam while also providing you with a basic understanding of practical jurisprudence for a medical career in the Lone Star State. You can read this 1-3 times (over 1-3 hours; first pass will take around an hour) and pass easily and safely (this has been universally corroborated by the reviews on Amazon).

As much as is possible given the subject matter, I hope you enjoy it. Your comments and feedback are both welcome and appreciated. Any book of this nature can always get better.

Nanoism in the Washington Post

01.07.16 // Reading, Writing

Very fun: Nanoism, a few tiny stories, and I made an appearance in the Washington Post yesterday in an article about Twitter’s planned/rumored character-limit change.

For what it’s worth, while the type of fiction I’ve purveyed is only fun within a predominantly constrained system, for people who write Twitter fiction differently, the ability to say more probably wouldn’t be much of an issue (say, those writing in the longitudinal first person like a digital diary of someone surviving a zombie apocalypse).

What I read in 2015

12.30.15 // Reading

Between the birth of our first child in April and by far my busiest call year of residency, 2015 was shaping up to be an abysmal year for pleasure reading. Ultimately, the saving grace was the combination of my much-lengthened daycare-related commute with Audible (the free 30 day trial/two free audiobooks via that link got me completely hooked). Audible is fantastic, and it’s not an exaggeration to say it’s changed our lives. Dead time in traffic or folding the laundry is no longer the dreary waste of time it used to be; it’s a chance to “read” (okay, listen). Even with Audible, I still ended up with fewer books than I read in 2014 (and this year’s list is padded with some pretty short stuff).

  1. Firefight by Brandon Sanderson (Reckoner’s #2)
  2. The Eye of Minds by James Dashner (Mortality Doctrine #1) (Not as good as The Maze Runner, which while entertaining, wasn’t all that good either)
  3. The Life-Changing Magic of Tidying Up by Marie Kondo (changed how I fold all of my laundry)
  4. Yes Please by Amy Poehler (wife’s choice, meh)
  5. The White Coat Investor by James Dahle (re-read)
  6. Modern Romance by Aziz Ansari (wife’s better choice)
  7. The Martian by Andy Weir
  8. 1984 by George Orwell
  9. Walk the Sky by Robert Swartwood and David B. Silva
  10. Sapiens by Yoval Noah Harari (like Guns, Germs, and Steel, but less rigorous and much broader in scope)
  11. The Pearl by John Steinbeck (so depressing)
  12. A Darker Shade of Magic by V. E. Schwab
  13. America Again by Stephen Colbert (funny, but not as good as I am America)
  14. The Art of Money Getting; or, Golden Rules for Making Money by P. T. Barnum (old, kinda fun, free, my highlights here)
  15. Lean In by Sheryl Sandberg (may be an anthem for working women but perhaps should be read by men just as much. And then one should expand the ensuing mindfulness to include every group and minority you can think of).
  16. The Perks of Being a Wallflower by Stephen Chbosky
  17. This Is Water by David Foster Wallace (the book version of this short essay is pretty much a fluffed out graduation present. The original essay is still available online for free.)
  18. Middlesex by Jeffrey Eugenides (so good)
  19. Hiroshima by John Hersey (the ethics of the atomic bombings in World War II was something we discussed in history class, but this follows the stories of several survivors of the attack. It’s harrowing. I’ve never read anything like it. It’s much more digestible in book form, but the New Yorker released a big chunk of it free online for the 50th anniversary.)
  20. Super Mario by Jeff Ryan
  21. Between the World and Me by Ta-Nehisi Coates
  22. Why We Make Things and Why It Matters by Peter Korn
  23. The Dorito Effect by Mark Schatzker (actually a very fascinating pop-sci discussion of modern food breeding and technology)

A few books make the list from my wife’s Audible choices. There are also a couple of classics that I somehow hadn’t read before, but I’m going to keep trying to do that every year to make up for only pretending to read the assigned books in high school. Here’s to a lively 2016!

Nanoism in Verizon Wireless

12.22.15 // Miscellany, Writing

Yours truly is quoted a couple of times about Twitter Fiction in Verizon Wireless Mobile Living. See “Telling a story, 140 characters at a time,” where a classic Nanoism story from 2013 also makes an appearance (#537).

Review: ExamGuru Shelf Exam Question Bank

12.16.15 // Medicine, Reviews

Updated 5/16/2016 to reflect new prices, new discount code, and some additional changes. Updated since then to reflect new discount codes. 

ExamGuru is the brand new and currently only question bank geared specifically for the third year NBME shelf exams. While the product itself is new, the company is not: it’s a new brand of the COMQUEST family, one of the two big players in the osteopathic question bank market (for the COMLEX exams, which are analogous to the USMLEs). It was released to the general public this week, but I had early access in order to write this review. I was also able to secure a discount for readers, so if you sign up using the code BWBW2022 , you’ll get 15% off whatever package you get, and I’ll get a few bucks.

Before we get started with the actual review, full disclosure: I wrote a small number of questions for this question bank as a freelancer several years ago. These were sold on a per-question basis; they are no longer my intellectual property, and I have no financial stake in the company or its success outside of the time-limited coupon above.

Size and Cost

The ExamGuru question bank is divided into separate shelf exam products, each with a goodly number of questions (as of the time of this post): family medicine (375), internal medicine (412), ob/gyn (369), pediatrics (406), psychiatry (395), and surgery (399). Each question comes with the detailed explanations we’ve come to expect from medical school question banks: 1) Concept/question explanation 2) Detailed answer choice explanations, including explanations of the incorrect options, and 3) Take home point.

You can buy a subscription for a single shelf product at a time: 1 month for $49 $37 and 3 months for $99 $79. Alternatively, you can buy all six products for a length of time ($129 for 1 month up to $379 for the year). Given that buying a month of each product would add up to almost $300, it would seem that the product is priced to encourage you to either buy a few products for a month each or just shell out for the whole year, which would allow you to the use the bank both as a shelf study resource and as an alternative/secondary Step 2 CK qbank.

Software

The website imitates the FRED software you’re intimately familiar with (and also has an option to change the layout to the one used on Osteopathic examinations for DO students). Everything is accessed via the website itself (no downloads or creepy UW spying/tracking), and the site is responsive: it works appropriately on your computer or your smartphone.

Peer percentage correct for each question is provided a la other competitors. Questions are also rated by difficulty, though I’m not sure how this was calculated; oddly, it seemed like most of questions I did were graded as “hard” in their software. I wasn’t sure if this was simply chance or reflects how they’ve self-graded the difficulty and the relative proportions of each within the qbank. Additionally, EG does provide good actionable data about your performance, including a breakdown by question task (establishing a diagnosis, management, etc), which may be a nice way to pick apart areas of weakness you didn’t know you had. If you’re getting the diagnosis questions but missing the management ones, then presumably it’s time to focus on the “next best step” and drugs of choice.

Question Quality

The question quality is good for its first iteration, but it’s not yet at the UW level of polish. This isn’t surprising: I remember using USMLERx back when it was a newer product, and it was awful and a total waste of time and money. The EG house style in particular a bit spotty and could use more homogenization: Multiple question writers and their particular quirks remain surfaced, and occasional aspects, particularly when it comes to the final stem and answer choices, sometimes stray a bit from what you’d actually see on game day. Buzzwords are over-employed and are even sometimes “in quotation marks” whereas nowadays these terms are more likely to described rather than simply called out. Explanations range from relatively short to long & fluffy, sometimes casual “Don’t forget XYZ on test day” and sometimes stiff.

Topics and narratives are fine overall, but some of the questions slipped through without matching the official question writing guide (which I’ve discussed before). A random example: a question about cirrhosis with blatant over the top SBP contained unbalanced answer choices (1 antibiotic choice versus multiple diuretics). That’s probably too easy and not reflective of the standards. I’d argue the question should have been a bunch of antibiotics asking you to know which type is used to treat SBP, or an even combination of both. One answer choice that stands out from the list is to be avoided. On the flip side, the family medicine section has some really great rash/skin questions, which are high yield and not well represented elsewhere.

EG also still needs a copy editor. Shelf questions are often long but almost never because of fluffy prose (only extraneous details!), and comma errors remain (inappropriate comma use before a coordinating conjunction used in a phrase will always be my pet peeve). Again, not necessarily substantive criticism but certainly one that signifies a lack of polish in its first iteration. The material is there, but these little differences do detract a little from question experience, which otherwise is well designed to approximate the real deal. As above, the software is solid.

Update: The EG CEO informs me that they brought on a copy-editor to deal the issues I raised in this review. He also tells me they’ve updated a lot of questions from user feedback. I haven’t personally taken a look again, but if nothing else, most question-banks generally get better over time, not worse.

On the whole, these are mostly nitpicks. But to me, the level of polish of a product is really important if you’re going to spend a lot of time with it. Errors and inconsistently can detract from the experience and distract from your education. 2If you harp on that kind of stuff like I do. That said, ExamGuru is probably one of the best things to come around for the Shelf exams for a while and breathes some new life into the static review lineup. The mistakes I found during my review were nearly all ones of style, consistency, and grammar. These are the things that are easiest to fix gradually. The core content I saw was just fine.

So my overall impression is that this a supplemental product, not a UWorld replacement. While the important topics are covered and the explanations are generally thorough (sometimes a bit lengthy, I’d argue), the overall quality is not yet up to the consistent quality of UW. The main benefit of EG is that it adds some meat to the UW bones, which are nearly ideal for Step 2 CK but a bit thin for several shelf exams. UW is still I think a critical component of shelf review, but there’s definitely space for another question source. And on the whole, I think ExamGuru is a better question source than the usual alternatives (e.g. PreTest) in terms of depth, ease of use, powers of software, etc. I’d much rather do dedicated shelf questions in a simulated USMLE environment on my computer or phone (yes, EG is mobile-enabled) than thumbing through a book or shelling out for another Step 2 qbank.

Conclusion

So should someone use or buy this product? Depends. If I were a third year again, I would for family (maybe peds and ob/gyn as well). Certainly not internal medicine, UW had plenty of that for me to chug through. Ultimately, as readers of this site are well aware, I believe strongly in doing questions, even as a core study method. UW just doesn’t have a very satisfying number of questions for several of the shelf exams (it’s well-pruned for Step 2 CK). Financially, it either makes sense to buy 1-3 of the shelves for the one-month period to use during a dedicated review push or, if you want more, just get the whole set for the year (ouch). I don’t think the quality or consistency is at the UW level but it’s a tailored source of questions in a friendly NBME style package that you can use on your computer or on your phone. And that’s a great start.

If you do end up using the EG product, shoot me an email or comment and let me know how it holds up to thorough use.

Life Lessons from P. T. Barnum

12.07.15 // Finance, Miscellany, Reading

You may not be familiar with P. T. Barnum, but you’d probably recognize the 19th century showman’s longstanding legacy: the Barnum & Bailey circus. In 1880, he also published the self-help/personal finance book, The Art of Money Getting; Or, Golden Rules for Making Money, which contains essentially everything you’ve ever read in a blog or book about the topic (in old timey English, for bonus points). The book is available for free on Kindle, but here are some of my favorite life lessons: (more…)

The Great Filter of Artificial Intelligence

11.20.15 // Miscellany

From Raffi Khatchadourian’s “The Doomsday Invention” in The New Yorker, a profile of philosopher of Nick Bostrom and discussion of the (highly dangerous) future of artificial intelligence:

He stopped and looked ahead. “What I want to avoid is to think from our parochial 2015 view—from my own limited life experience, my own limited brain—and super-confidentially postulate what is the best form for civilization a billion years from now, when you could have brains the size of planets and billion-year life spans. It seems unlikely that we will figure out some detailed blueprint for utopia. What if the great apes had asked whether they should evolve into Homo sapiens—pros and cons—and they had listed, on the pro side, ‘Oh, we could have a lot of bananas if we became human’? Well, we can have unlimited bananas now, but there is more to the human condition than that.”

Long, but well worth the read.

What to do with your old employer-sponsored retirement accounts

11.13.15 // Finance

After you’ve switched employers, it’s time to think about what to do with the old retirement account(s) (401k/403b/457) you previously contributed to. But before you do anything, make sure any company match dollars you’ve earned have vested appropriately. Vesting schedules (i.e. when the money is yours free and clear) vary, and vesting may occur immediately, with some fixed percentage per year employed, completion of a specified residency program or contract period, etc.

As a personal anecdote, my transitional year internship had a 50% match up to 4% of salary with 100% vesting after the completion of a residency program (our TY qualified, as it was considered a complete 1-year program). I noticed that the vested portion of my employee contribution was still zero dollars after finishing two years ago, so I eventually got around to emailing them, they looked into it, realized the error, and contacted the plan: now I have my money. Now, my former employer was very responsive, and I doubt very much that this was done on purpose, but there is no denying that it would be in a company’s best interest to conveniently forget to vest their matching contributions and see who notices. Just saying.

Anyway, once you have all your hard earned money under your name, you have three real choices: cash out the plan, keep it where it is, or transfer/rollover to a new account.

Option 1: Spend it

No. Don’t cash out the plan. You’ll pay both federal and state taxes on it like it’s regular income PLUS an additional 10% early withdrawal penalty (because you’re probably not 59.5 years old). Your tax-sheltered retirement account distributions are limited on an annual basis (i.e. you can only contribute 18k in 2015/16), so why waste the benefits and tax-free growth?

Option 2: Leave it

Leave the money where it is. Nothing wrong with this, but your former employer’s plan may not have the best fund options or the lowest fees. Some employers also won’t let you do this if your balance is low, and others may hike up your fees without giving you a solid heads up once you’re no longer part of the team. Bottom line: if your old plan doesn’t have low management fees with access to low-cost index funds, then it’s not a great place for your money.

Option 3: Move it

For many people, moving it elsewhere is the best plan.

Your new employer
You can usually transfer funds into your new employer’s fund (assuming they accept rollovers), which is a good idea if your employer’s plan is better. But if the fees or fund options aren’t better, then the main advantage to a transfer in this setting is having fewer accounts to keep track of.

Roth IRA
If your income is within the Roth limits (which it almost certainly is as a resident or fellow), you can roll over a regular 401k/403b to a Roth IRA (you’ll pay taxes on the conversion, but then it’ll be tax-free on withdrawal). This may be the best option as a resident (if you have the money on hand to pay the taxes on it) and a good in general, particularly if your current income is lower than you expect during retirement. You can also always convert a Roth 401k/403b to Roth IRA with no penalty (Roth to Roth conversions are always Kosher), so if you have a Roth 401k/403b, just do this.

Individual (Solo) 401k
If you moonlight or have any self-employment 1099 income, then you could transfer your old money into a solo 401k that you set up for your side business’ income.2If you’re setting up an account for this purpose, make sure your chosen company accepts rollovers! Individual 401ks are pretty awesome. While you can still only contribute up 18k per year as an individual, your business can also offer up 20% of its (your) profits up to the 51k limit (which is a per business limit, not a per person limit).225% if you go to the trouble of filing as an S-corp instead of a sole proprietor Vanguard, one of the best solo 401k options, doesn’t allow for 401k rollovers, but low-cost competitor Fidelity does. An individual 401k of your choosing should have lower fees and good fund options compared with most employer plans.

Traditional IRA
Lastly, you could roll it over into a traditional IRA. But putting pre-tax money into a tIRA means that if you attempt the “backdoor Roth” in the future (which you should/will), you’ll eventually have pay tax on the conversion. So probably not the best unless you then roll over the IRA into an employer’s 401k (that takes rollovers) in the future. There’s no reason to do this really unless both your old and current employer’s options have high fees and you don’t have any 1099 income at the moment to set up your own 401k.

The internet has a gazillion pages dedicated to this question. Here is some good further discussion of the options and their relative merits.

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