Please Help - I need a plan!!

[OmzT]

Let's just say its a special case

[Helianthus]

Well, that certainly is consistent with the rest of your situation.

[OmzT]

yep :P

[OmzT]

Thanks to all who replied and encouraged!!

I removed some of my posts as you can see, and edited a few others.

I'll give newcomers the short version and what I learned from this experience:

2 weeks ago I was overleveraged, (read: leveraged to the hilt), heavy spending person completely careless and clueless of my financial situation with no real concrete plan to move forward. I thought I would just keep winging it and things would be fine. I met with a private banker who wanted to sell me on his services and thought to myself "hey! i should google private banking and see if I can find some reviews or something" (concierge services sounds pretty sweet though!)

anyways i ended up at CMF and started browsing the forum and basically spent the next week reading everything I could find on personal finance on this forum and elsewhere. I realized that i needed to wake up and get my financial house in order and start planning for the future.

I read and instantly agreed with the basic concepts of budgeting, becoming debt free and saving for a rainy day and even some stuff on passive investing.

I have now developed the first budget i have ever had in my life and have spreadsheets documenting my financial situation. I'm still overleveraged, but I now have a plan and realistic goals to move forward.

Its crazy how when you have everything organized and your looking at it - it becomes very obvious what changes you have to make.

Thanks to everyone who commented on this thread and the members of CMF in general for making this forum a great resource.

The only thing left to do is put the plan into action!!!! especially the budget :P

[Dave]

Thanks to all who replied and encouraged!!

I am glad for you that the property is running smothly because the first year of practice is though. I have physician firends and it can be overwhelming at the beginning to figure out your billing, permits, continuing medical education, conferences, locum schedule (you will be away and travelling a lot I assume), etc. And you will not be as fast as someone with 10 yrs of experience. So it will be a stressful year and troubles with real estate would not help. At least, it will be a non brainer about what to do with the money - reduce debt.

Good luck to you !
Dave

[CJOttawa]

OmzT: thanks for the thread cleanup and follow-up post. Often, we don't see the tangible result of advice given. Much appreciated.