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Serving Over 20,000 US Medical Transcriptionists

To any financial wizards out there. SM

Posted By: MTMI on 2007-11-30
In Reply to:

Does anyone know about when a company says it has profit sharing what that exactly  means.  Is it the same as them matching the 401K contributions, or is it separate outside of the 401K distribution?  Also, is it usually paid directly to the employee or invested by the employer?


Thanks to anyone who can help.




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Any financial wizards
out there.  Hi guys I am wondering if I could get some suggestions on my 401K.  I am really dumb about numbers.  Give me big medical words and I am fine, but not numbers.  Anyway, we just switched to another financial management for our 401K.  I cannot remember what managed portfolio I had picked years ago.  Would you, in this day age with the way the stock market is, go with an ultraconservative 100%, conservative 20(stocks)/80(fixed), balanced 40(stocks)/60(fixed), balanced 60(stocks)/40(fixed), aggressive 80(stocks)/20(fixed), or ultra aggressive 100% stocks.  Can anyone help me out here?  TIA
See if there is financial aid available,
including work-study and/or grants. If you're developing an injury, please make a change before you become disabled. I worked as a historian in a hand surgery office, and sometimes you have to just stop. Good luck to you.
If you qualify for financial aid

You might want to consider looking into EVCC. It is a community college that uses the Career Step courseware, but you have instructors and accept Pell Grants and Stafford Loans.


EVCC grads get the same consideration from employers as Career Step grads.


I am having a bad financial hardship
any kind of help, but not enough to seem to get by on.  Oprah has a debt diet and I am going to try it.  Also I recently joined Debtors Anonymous, for anybody with money problems.  I hope it helps, it seems to have so far.  Good luck to both of us.
Does it serve your financial needs?
The main criteria for any job wage would be whether you think it is a fair trade for your skills and will it provide what you need it to financially.

I personally would not work for $15 an hour. However, your needs may be different from mine. I also have other options. You may not.

It is a very subjective question and one that only you can really answer.

This is exactly why my financial advisor said
:)
Financial Assistance???
I am currently a full-time-college-student-but-otherwise-SAHM. Pretty soon we'll be needing more money, but I have neither time nor resources (day care around here is INSANELY expensive) to work outside the home. I've been doing the reasearch and have come to the conclusion that MT is a good job option for me.

The problem is the training is sooo expensive! I mean,if we didn't need the money I wouldn't be looking for the training to begin with--so obviously I don't have $1600-4000 up front for the training. And most of the payment plans I see aren't looking much better--like $1000 up front, $350 every month after that. Right now that's just not feasable.

Are there any MT schools that offer reasonable financial assistance? Or, I'd even be cool with a payment deferment plan or something!

Anybody know of a school that's willing to help the financially strapped?
Do you ever feel the financial crunch?
My house payment and insurance are auto debited from my checking account.  However, work has been so slow and my paychecks have been so puny that I need to get more money in there to cover those.  I've called everyone on the planet that owes me money, but nobody's coughing it up.  I'm the one that posted the other day about the medical company and the IRS owing me money from way back.  I wouldn't have a problem at all if they would just pay me.  I've tried picking up extra work and looking for a new job, but there's nothing anyone can do that would pay today.  I don't want to take my rings to the pawn shop because I don' t think I'd get a whole lot out of them anyways.  Interest on those check cashing loans is terrible, then you get sucked into that cycle of borrowing from them repeatedly.  I've already cut my household expenses back as much as possible.  I'm just so stressed about it all.  Has anyone else ever been in this situation?  What do you do?  I can't stand being broke.
More important to me is keeping my financial

info within the US.  HIPAA allows many uses of unidentiable medical records to be distributed in many ways even within the US, not to mention overseas.  There is no law that keeps my financial information confidential and within the boundaries of the US.  Very little truly identifible information to connect medicall record A with a particular person other than by name is sent anywhere, even to MTSOs within the US. 


Who wants my medical information?  The College of Surgeons to help them identify ethnicities and trends in cancers, the AARP to help target demographic groups for products they sponsor and to "represent" when they pay their professional lobbying group in DC, the auto industry to decide my premiums, and on and on.


I got a Walmart credit card, was 7 days late in sending in my $10 minimum payment and got a call from India for collections.  ????  Mailed in the account balance and closed the account.  Then called all my credit companies to find out where their call centers were located.  I now have only financial business with companies who keep my records in the US.  That is my choice.  There ARE 2 cases of people who sold US financial records being proscecuted by the Indian government and a total of 5 people are in jail for this.


To the OP, share with us your thoughts.


Michael:  You've been missing a lot of work.  Peter:  I wouldn't really say I've been missing it.


I know it's not the best financial decision, but (see message)
I have no money problems and can afford to have payments each month.

I lease strictly out of convenience. I don't like to own a car for more than a few years. I don't want to deal with the hassle of selling a car once I no longer want it or deal with repairs. I want a car that's always under warranty and that I can give back easily when I'm done with it.

If I were not financially stable, I would definitely purchase a reliable used car, but where I am in life right now, I just don't need to. Leasing is a convenience for me, and it's one that I'm willing and able to pay for.
Do not lease. Big financial mistake for you. (nt)

Depends on mom's financial situation maybe....sm

I would assess the need of the mother and child and then give appropriately. Boxes of diapers and wipes are always appreciated and are sure to get used!


late pay and financial situation
No one is responsible for my financial situation however my check is not a payroll check -I am a professional subcontractor and once a contract is signed or a client (MTSO or other) tells me or I tell them when I will be paid they are legally responsible to do so within a reasonable amount of time for mail delivery.

If I told my electric company - sorry but can't pay now, hold off until I can - my electric would be shut off - with fees added on. Why is it that transcriptionists feel they are less important to a client than anyone other professional?

Charge them fees and pursue it - as a subCONTRACTOR you are entitled.

As for D&L - I cannot note the new name - but I can say that more initials but same people. I choose to be quiet about the new name so that others who maintain some sort of employment there do not lose whatever small thing they have. Eventually this will change and you will see it prominently displayed I am sure. At the moment they are not advertising at all, so I feel comfortable in my decision to remain quiet on the name.
The financial gurus always say when starting a new
business/career you should have enough money in the bank to cover 6 months of expenses.  
this applies to MT, right? (link for financial assistance)
link:  http://www.doleta.gov/programs/factsht/taa.cfm

something has to be done to help people losing jobs to foreigners...

it says you need 3 or more workers to apply...

also, it aint going away, ladies: 

Other projections include:




  • 10 percent of U.S. technology jobs will have moved offshore by 2005 (Gartner Group)


  • up to 25 percent of traditional IT jobs will be relocated from developed to developing countries by 2010 (Gartner Group)


  • 500,000 financial services jobs (8 percent of all U.S. jobs in banking, brokerage and insurance) will be shipped overseas by May 2008 (AT Kearney)


At recent financial aid seminar, I was told...

Although I am married and it doesn't pertain to me...


The financial aid officer told all the parents there that if their child is 22, living with them or not, their finances will be looked at and considered when the kid goes to college.  So if you boot your kid out the door at 22, consider the fact that if you make too much money, your kid may not be able to afford to go to college without your help because their student loans, scholarships, etc. will be based on both the student's income and the parents.  If they are married or have children parent's income is not a factor, only the student.


google greendot financial and read
x
Most financial advisors say when you receive a windfall...

After paying any necessary debts, etc., put the remainder in a CD or money market account and let it accumulate interest for a while so you can consider your options. You don't want to jump into (or out of) anything on the spur of the moment.


I guess the question is, is this a job you want to keep? If so, I think the advice the MTSO below gave is great - talk to your supervisor or lead, explain the situation, and ask if you can take some time off and still have a job waiting for you when you get back.


If it's not a job that you want to keep, then don't worry about it. Quit, spend some time with your daughter, then look for another job. You will certainly have enough money to tide you over!


P.S. For financial advice, check out one of Dave Ramsey's Endorsed Local Providers in your area. (link below) Look at the top right corner of the page under Trusted Services. Their goal is not to tell you what you should do with your money, but teach you how to make the right decision about your money and investments.


Good luck and CONGRATULATIONS!!!!!!


Prayers and well wishes are just as important as financial help...
sorry you don't see it that way...
Here's their revenue for the past three years and other financial data.

MQ's debts are not high either.


http://news.biohealthmatics.com/PressReleases/2005/08/19/000000002719.aspx


leasing is same as renting a house, never the best financial choice...sm
bottom line is somebody is making money off of you leasing. If they didn't make money off of you, they wouldn't lease. Same thing with renting. Renters always cover the mortgage and repairs on a home while the owner reaps the benefit of building equity. Now cars are a little different as they definitely depreciate while homes do not (usually!) but as I said, if they weren't making money doing it, they wouldn't do it. You can easily find a traded-in used vehicle with 50,000 or less at a dealership. Get one of the yearly reports from Consumer Reports and you can find which cars are the most reliable (for example, Buick LeSabres - those things run 4ever). Best financial move is to buy it from a private party with cash. I mean showing up with the whole offer in $100 bills. Few people can pass that up. If you can't get the money together to buy a car outright, you will for sure never get ahead driving someone else's car and paying them for the privilege of it. And you are just kidding yourself if you're driving around in a "new car" that you can't even afford to buy.
Terrorist attacks in Mumbai/financial districts.

Dozens killed in India terror attacks






Buzz up!

Like this story? Share it with Yahoo! Buzz



There now are reports of as many as 80 people dead -- a number that is likely to rise -- in apparent terror attacks aimed at tourists and travelers in Mumbai, India.


Oberoi_fire Reuters is reporting that at least 250 people have been wounded in the attacks, which appear targeted at tourists. In addition, Indian television is reporting Westerners are being held hostage at at least two hotels. News networks and wire services are reporting there have been at least seven separate attacks in the city, largely at luxury hotels and restaurants.


"I heard some gunshots around 9:30. I was with my friends. Something hit me. I ran away and fell on the road. Then somebody picked me up. I have injuries below my shoulder," Reuters reporter Sourav Mishra said from a hospital bed, Reuters reported.

The Times of India
reports there have been eight separate attacks, including a major terror strike at a large passenger railway station.


Our coverage is here.


(Television broadcast capture of a fire at the Oberoi hotel in Mumbia courtesy NDTV, via AP)


Update at 3:57 p.m. ET: According to the AP, gunmen are known to have attacked a major train station, a well-known restaurant, two luxury hotels and a police station. A previously unknown group calling itself "Deccan Mujahideen" has sent e-mail to news organizations claiming responsibility for the attacks, the Times of India is reporting. The AP now lists the death toll at 78. There are multiple reports that attacks are continuing.


One of those radio financial guys said debit cards are the MOST dangerous to use.
s
Manufacturing computers offshore is different than PRIVATE MEDICAL AND FINANCIAL INFORMATION. sm
you need to compare apples with apples not oranges.