Author: Doctor in Denim

October Spending: a Great Reminder that Cars are Expensive

October Spending: a Great Reminder that Cars are Expensive

So October included a Car vs. Bike Rack showdown. The bike rack won, suffering minimal damage while somehow ripping up our car to the tune of over $2,2oo and over a week in the body shop. Since we are reasonably responsible adults, we do have decent car insurance… but we are still out the $1k deductible. And after the catastrophe last year with the same car, I’m assuming our insurance rates will go up any time now.

The silver lining of the situation is that we have been functioning just fine as a 1-car family. That was one of our goals in moving to this part of town – not to get rid of a car necessarily, but to be able to if we wanted to. And now we know we can! Huzzah!

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Our Adoption Announcement Letter

Our Adoption Announcement Letter

I wrote this almost four years ago, when we found out that we were likely to be adopting C from foster care. You can see all of my posts about foster care and adoption here

We completed a second adoption from foster care a few months ago  – and November is National Adoption month! – so it seemed like a good time to share this publicly. We didn’t include any photos in that original letter, but I have included some here just for fun.

If you are working on your own adoption announcement, feel free to use any of this that applies to you

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A Desert Wedding, an Epic Race, and Other September Spending

A Desert Wedding, an Epic Race, and Other September Spending

We’ve somehow made to the end of 3rd Quarter, tracking every dollar we’ve spent this year (scroll to the bottom of the post for the total numbers)!

A quick reminder: these spending reports are an effort to keep myself accountable to the idea that doctors do not have to spend a totally ridiculous amount of money to live well and love life. We’re planning to do these spending reports through the end of 2018.

As I have mentioned before, we do not do traditional budgeting. You absolutely should do traditional budgeting if that works for you as a way to control your spending.  More on this topic here.

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The Infamous Operating Agreement, Part 4

The Infamous Operating Agreement, Part 4

Make sure you have read Part 1, Part 2, and Part 3 before you read on.

This fourth and last (and longest!) post about our operating agreement probably contains one of the most critical sections – the details on how we agreed to run the show day to day. You’ll also find our agreements about indemnity (snoozefest, but still important), non-competes and other restrictive covenants, and some miscellaneous agreements that we felt were important. Schedule B and C toward the end were the agreements that each of our spouses signed.

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The Infamous Operating Agreement, Part 3

The Infamous Operating Agreement, Part 3

Before diving into this post, read Part 1 here and Part 2 here.

In this third post about our operating agreement, you’ll see how we handle money (income and losses) as well as our plans for the depressing events of injury, death, or divorce of a partner. We also made plans for what we will do if we want to sell our shares of the business (you’ll see that we designed future sale terms so the junior partner is incentivized not to sell until at least 10 years after their buy-in), add a new partner, or liquidate our company.

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The Infamous Operating Agreement, Part 2

The Infamous Operating Agreement, Part 2

If you haven’t already, read Part 1 here.

This second post about our operating agreement covers how we assigned rights and duties of our “manager” (which we decided would be one of us) as well as rights and duties of all business partners. Per our agreement, none of us – including the manager – can make any big decisions or changes to the business without the agreement of the other members/partners in the business. We designed it that way on purpose.

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The Infamous Operating Agreement, Part 1

The Infamous Operating Agreement, Part 1

This is what I get asked about the most when talking about my business partnership – this lengthy, complex agreement that took us the better part of a year to put together and is one of the big reasons our partnership has remained strong (and fun) for over 5 years while 70% of business partnerships fall apart around us.

Note: if you are not interested in business partnership agreements, stop reading now. Our OA is about as wordy as the Treaty of Versailles (although arguably much more successful), and the only interesting photos in these OA posts will be the banner pics. 

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Why Business Partnerships Might Just be Perfect for Millennials

Why Business Partnerships Might Just be Perfect for Millennials

Millennials are changing the workplace. Love ’em or hate ’em, this is a reality.

And it’s a reality we’ll all have to deal with for the next several years, since the tail end of the Millennial generation is just starting to graduate college, move back in with their parents, and apply to part-time jobs so they can spend 20 hours per week at rallies protesting student loans.

Haha! I’m totally kidding. Sort of.

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Ski Passes and Other August Spending

Ski Passes and Other August Spending

A quick reminder: these spending reports are an effort to keep myself accountable to the idea that doctors do not have to spend a totally ridiculous amount of money to live well and love life. We’re trying to do these spending reports for every month of 2018.

As I have mentioned before, we do not do traditional budgeting. You absolutely should do traditional budgeting if that works for you as a way to control your spending.  More on this topic here.

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Hitting the Trail: 10 Tips for Endurance Racing as a Busy Parent

Hitting the Trail: 10 Tips for Endurance Racing as a Busy Parent

Any parent will be happy to explain to you at length that everything gets more complicated after you add kids to your life. This includes your fitness regimen. But instead of letting that fall by the wayside – and letting your physical, mental, and emotional health suffer as a result – it’s best to get back on that horse as quickly as you can.

For us, that looked like getting back out on the trails asap after Baby J arrived last year. He did his first hike with us around 4 weeks old.

Fast forward to right now: my husband and I just finished a respectably difficult trail race in the San Juan Mountains, with our kids cheering us on at the finish line. This was the third time we’ve done this race together and the second time since we’ve been parents.

me and my husband on a high alpine pass
The summit of the race – at over 13,100 feet!

You might be thinking: “That seems kinda cool but…Nah. They seem a little bit crazy, and I’m not even sure they have real jobs. Plus running just comes easily for some people. I might have done something like that before I had kids, but not now because I’m way too busy…”

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