Montana Trust Indenture: Fill & Download for Free

Wyoming, State of BlissBliss, for my purposes, is defined as low taxes and sensible public policy. If you had no business or familial commitments, where would be the perfect state in which to live? My first plan was to winter in inner city Detroit and summer in one of the many half-abandoned condo forests in Florida (doubtlessly making us the first inner city Detroit family to use winter as a verb). I calculated that we could take Florida residence for tax purposes and rent out our homes while we were gone for an amount greater than the necessary mortgage servicing. We would be living for free. What's more, Detroit real estate has been a terrific investment since the bankruptcy filing, appreciating by over 20% on the expectation that there was little left to lose. My first efforts at achieving real estate bliss ran into some opposition from my wife who stated delicately but forcefully that she did not plan on joining me at either locale.Plan B was Texas in the winter and Alaska in the summer, for daylight and not too much heat in the summer and state income tax avoidance year round. This got a somewhat warmer reception than my inner city Detroit/Florida half-abandoned condo forest scheme, but still did not pass the finish line. My bride is less consistently misanthropic than I am. I prefer a few hundred miles between me and my neighbors (they probably do too) but she wanted some more company than these states offer, at least in my favorite spots.Tahoe on the Nevada side is a gem, but the gaming industry presence is seedy and depressing. It is a shortcoming, but people losing money that they cannot afford makes me feel bad. I am happy to invest in it, but not something I want to live around.The current idea is to earn in state income tax free Wyoming and spend in next door sales tax free Montana.Wyoming is one of the states without income tax.It is next door to Montana, one of the states without sales tax.It is also an extremely attractive state, nationally recognized as one of the top ten states for scenery.One of the easiest, objective criteria is crime (one can quibble over the attractiveness of many characteristics, but crime is a pretty objective negative). Wyoming crime is very low.Wyoming public policy is quite conservative and market-oriented. It is unlikely to lead to radical public policy changes in the future. As a rough proxy for public policy predictability, here is their latest Electoral College composition by county:Wyoming will remain solvent long after California, Illinois, and Connecticut jack up taxes further and seek federal bailout money to reward themselves for their fiscal profligacy.Besides lacking a state tax on personal or corporate income, Wyoming has many other tax advantages. There is essentially no state inheritance tax. There is no state gift tax. There is no tax on out of state retirement income. There is no excise tax. There is no tax on mineral ownership. There is no intangible tax. There is no tax on real estate sales. A dynasty trust administered in the state shields real estate from federal estate tax for up to a thousand years. Property taxes are low.A recent survey names Wyoming,a model of good management and a prospering population. The state is particularly efficient at managing its debt, owing the equivalent of just 20.4% of annual revenue in fiscal 2010. Wyoming also has a tax structure that, according to the Tax Foundation, is the nation's most-favorable for businesses - it does not have any corporate income taxes. The state has experienced an energy boom in recent years. The mining industry, which includes oil and gas extracting, accounted for 29.4% of the state's GDP in 2011 alone, more than in any other state. As of last year, Wyoming's poverty, home foreclosure, and unemployment rates were all among the lowest in the nation.According to Tax Foundation, Wyoming's 2010 tax burden of 7.77% ranks 5th lowest out of 50 states, and is below the national average of 9.9%. Wyoming's taxpayers pay $3721 per capita in state and local taxes. Wyoming ranks 1st in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: Montana, 8th, South Dakota, 2nd, Nebraska, 31st, Colorado, 18th, Utah, 10th, and Idaho, 20th. Wyoming levies no individual income tax, joining seven other states with the same policy: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Wyoming levies no corporate income tax, joining three other states with the same policy: Nevada, South Dakota, and Wyoming. Wyoming levies a 4% general sales or use tax on consumers, which is below the national median of 6%. The average local sales tax rate is an additional 1.34%. Wyoming's state and local governments collect $1719 per person in general sales taxes and $214 per person in excise taxes, for a combined figure of $1932, which ranks 3rd highest nationally. Wyoming's gasoline tax stands at 14¢ (2nd lowest nationally), while its cigarette tax stands at $0.6 (12th lowest nationally.). Want to avoid Wyoming sales taxes? Shop in nearby Montana. Montana levies a 0% general sales or use tax on consumers, which is below the national median of 6%. Montana's state and local governments collect $0 per person in general sales taxes and $546 per person in excise taxes, for a combined figure of $546, which ranks 3rd lowest nationally. Montana's gasoline tax stands at 27.8¢ (22nd highest nationally), while its cigarette tax stands at $1.7 (16th highest nationally.).Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2013, Wyoming taxpayers worked until April 16th (17th latest nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: Montana, April 10th (ranked 19th earliest nationally); South Dakota, April 4th (ranked 6th earliest nationally); Nebraska, April 12th (ranked 23rd earliest nationally); Colorado, April 17th (ranked 16th latest nationally); Utah, April 13th (ranked 24th earliest nationally); and Idaho, April 9th (ranked 15th earliest nationally).Sadly, workers in my state of Connecticut are indentured servants for the state through the first half of May and only start working for themselves and their families around Memorial Day. Wyoming workers are able to work and save on their own behalf for almost a full extra month each year. This represents a spectacular potential to generate and compound wealth over the long-term:Wyoming is also in the top 10% most pro-business states according to Pollina Corporate Real Estate, Inc. This study combined factors related to taxes, human resources, right-to-work legislation, energy costs, infrastructure spending, worker compensation legislation, and jobs lost or gained.

Depends… if you like wearing a white coat and being around people who complaints all day long and be in debt till you are 50 years old (and that was during my time as a college student when I knew a lot of MDs without practicum). A good 4 year college these days (needed to get into medical school) is at least between 25,000 (for 4 years) and 320,000 (for all 4 years). To top it off, you have books and lodging cost and transportation. Expect to be in debt a good 150,000 - 350,000 all said and done. The good news is that for most US citizens and apparent non US citizens (DACA) the US government may or may not offer you the full 4 years + 1 of funding and loans depending on your family income, credit score, performance, etc. Also most of the courses you need for medical school pre-requisite(s) have lab fees associated in the order of USD 125 to USD 925 for Bio 1 & 2, Chem 1 & 2, Physics 1 & 2. If you are able to pass out with AP/IB then you can roughly cut that in half. You won’t be able to do it in less time because the US requires you have the equivalent of 120 credits or more or a 4 year degree to complete this hurdle of the admission process.In other countries outside North America, you are able to go right into a Bachelor of Medicine or Bachelor of Medicine and Bachelor of Surgery program right after high school, which definitely saves you some time and cost(s). After all, most Bachelor of Medicine can take a quick conversion course and be issued a Doctor of Medicine but alot do not do it because they want to have the “old school” prestige associated with schools who have not converted over to the MD, JD, PharmD, etc US government payscale salary inflation by degree. As it was told to me by a prominent labor economist who used to work for the Economic Presidential Council, this was all due to the wage inflation requirement that to make above a certain GS pay scale requires you to have a “doctor” designation. If I am correct, I believe it is GS-22 or GS-23. This was confirmed by another person whose ambition was to be in the FBI but wanted to get a JD to jump pay bands and found that an online JD was the easiest for 3 years of work as opposed to 4 or more years.Anyways, back to the topic. Add on medical school and assuming you did not forget the voluntary roles (almost full time or 3/4 time of involvement to be considered meaningful) you are looking at a good 38,000 - 80,000 per year tuition bill and assuming you live like a minimum wage marginal income person at 20k per year. You are looking at an additional debt of USD 400,000 - USD 600,000+ depending on how fancy of a lifestyle you can afford.Medical students are notoriously horribly paid as interns or residents at hospitals (assuming you can find one which is harder than getting into medical school). The most desired specialities in the order presented (during my time) are: dermatologist, anesthetist and radiologist. These have the highest pay and highest chance of making anything close to USD 180 - 200k several years after graduation. Also, these have the highest chance of being hired by a hospital instead of having to start your own practice, which is very expensive due to the equipment cost and more importantly staffing and malpractice insurance cost(s). Expect to be in the residency program from two or more years with some residency programs requiring upwards of five or more years. During that time, the US government loan office will consider you to be working and you will start accumulating interest on your loan which you can try to defer and it will just add on. Many cannot afford to make required payments on the loan based on the salary of a “housemen” or “resident” with the latter term being used in the UK and similar countries. The pay, which you can check state system universities for yourself are around USD 38,000 - USD 60,000 and require a stress test number of hours of work and exaggerated working conditions that are not required or permitted by the US department of labor. That being said, it is not the best working conditions and most everything in a campus or hospital is jacked up in price from rent to uniforms to meals to parking (you are lucky to get parking as a non full time MD and frankly even nurses would have higher priority than interns if you land a job in a urbanized campus). Hence, what seems like alot at USD 60,000 doesn’t really stretch that far when you think of how much the uniforms, meals, rent, etc would cost you.All said and done. I just worked it out and you should be prepared to shoulder a USD 800,000 loan at the time you are done. This is excluding interest payments or compounding.If you are one of the lucky ones who land a USD 120,000 job and are able to survive of about USD 5,000 per month (bearing in mind Uncle Sam’s cut of 28.5 percent to about 32 percent for those who live in FL, TX, NH, AK). You can pay approximately USD 4800 to USD 6000 to cover the monthly payments of your loan and be done in 20 years. The interest will only cost you USD 400,000 and change.In total, you are looking at a minimum of USD 1.2 million and those are using backdated prices of around 2008 approximately. Conversely, if you had that amount of money from whatever source you got it from and put it in a income trust or deposit yielding decent interest. You should be able to squeeze about USD 8000 of income from that amount depending what kind of investment you choose. So the average american home price is about USD 275,000 and you would have spent about 4 - 5 times that amount on education. Also remember that you will be late to the game in terms of 401(k) or 403(b) retirement contributions since the earliest you would be offered these would be when you get your first full time job. Which assuming a 22 year old completion of a 4 year degree and another 4 years for med school and another 2 years for residency. You would be about 28 years old to begin with and have foregone about 10 years of employer contributions or matching to about up to 15 percent of your 401 (k) or 403 (b) contributions even assuming average wages. That is quite substantial.Now the benefits are quite numerous too. First, it is a highly desirable position by prospective dates, parent in laws, etc. Second, you get to be your own boss if you want to and its useful if you suddenly lose your job or piss off a hospital administrator. So you really could be in business the next day since medical assistants and rental places are very easy to come by. The good part is you won’t have to move for a job which is a very very very big bonus if you think about the real cost of moving after having settled down with a mortgage and possibly a family and kids. Whether you are profitable from running your own practice or not depends in large part on whether you are business savvy and are in the right speciality or not. Look around at the number of family practices and urgent care competition back before CVS minute clinics and the like came about. Some are doing very well with up to a 3 hour wait and some are not doing so well. As a general rule with restaurants and doctors, people tend to go to the ones that look busy and not the ones that are empty for whatever reason no matter how much they detest the wait.Oh and I learnt from someone who started his own practice that a large cost was avoided by taking over an existing practice along with all the medical equipment and supplies as opposed to having to buy them outright at full current market prices. Apparently those flash lights you see in a doctor’s office can run you about USD 1500 and the disposable cones are the actual cost and not the equipment. The same goes with gloves, pads, tongue suppressors and those long Q tips. Expect to pay up to 28 times the price of what similar non certified items would cost at the dollarstore. Also expect to have to pay a cut or upright expenses for a medical receptionist or assistant and a medical biller unless you want to spend countless hours with the insurance company.Apparently, though not required, expect to somehow have to come up with the salary to hire a substitute doctor for days you want off and also for your busiest times, which is the lunch hour. That is what a friend found out was apparently the hardest part of starting a practice. Finding a good co-tenant or a substitute MD, PA, RNP who is popular and doesn’t demand a higher cut, which overtime becomes self fulfilling if they are usually working your most popular or busiest hours or shifts. Apparently, I found out that medical interns too can be supervised substitutes but they tend to have to be replaced every year or two. The PAs and RNPs are not much cheaper than a MD to hire since most make about 70 percent at least of what the MDs make.A RNP can have their own DEA # and be unsupervised but not a PA-C which is really all they need to start their own practice since almost everything these days requires you to have a NPI # and a DEA #. SO these are also things you may want to consider and all said and done. I would say that 2/3 rds of people I knew applying to MD programs said they would prefer if they had an employer rather than deal with the hassles of being self employed.Also, if you are lucky enough to work for a state system or a university teaching hospital. You can save yourself about USD 200,000 and up depending on how many kids you have in terms of tuition by simply being a temporary or teaching faculty and leading medical students around the hospital in tours. Faculty usually do not have to pay for tuition and neither do their families.These costs are also somethings waived if you are a citizen of the various european countries or the army that offer free medicine training but competition is intense and it usually comes with a catch such as indenture service for 8 or more years. Technically, slavery is illegal and you can really just walk off but they have a way of enforcing these things apparently.Oh and there was a time when I was involved in statistics that I knew all sorts of useless facts and this may still be true today but I am not sure. For instance, despite what you might otherwise think, there are more male OBGYN than female ones and almost all urologist are male. Physicians or the medical field itself is very male oriented even though conventional wisdom would hold that to be false since the nurse to physician ratio is greater than 1. Labor people attribute this to the time off that females require to give birth or look after a child and the relative intolerance in these fields toward variable hour employment. Most shift MDs and RNs have to rotate shifts and this is generally worse for females than it is for males.That being said, the highest paid MDs do not happen to be in big cities like what one would otherwise think but in places such as Florida, Las Vegas Nevada and for whatever reason Missouri or Texas.Oh and friends tell me that if you do pretend to be a European or South Korean or Singapore citizen by marriage, false pretence or dual citizenship and do get a free medical education, it is possible to transfer your experience and be recognized by the State Board of Medical Examiners but you will have a hard time trying to do so without experience as a resident. The only foreign school which I know of that is AMA recognized is Ross University in the Carribeans and their tuition ain’t exactly cheaper than most schools. For state schools, most of the spots for MD or resident programs are reserved for those considered to be state residents or for alumni of their programs. The same is generally true for Ivy League schools since those are notorious for making you interview or be recommended by one of their alumni for admissions even starting in your high school days. Aside from those, there really aren’t that many other MD programs in the US.A lesser known route that most of the people I know did not take for whatever reason is to do the analogous of a Associates then a Bachelor certification by doing a PA-C or RN-P then a MD while you work towards the necessary hospital experience or volunteer experience while getting paid. You may not be a MD by age 28 but you sure would spend less time paying back your interest + loans and it may seem like a good option since the RN-P can still be completed if you are missing some of the required pre-requisites for a MD admission.The other advice is that the MCAT can be taken as early as after high school if you are good at tests and since these are standardized percentile exams, you may or may not do better percentile wise on these exams depending on how the percentiles are calculated. The best place to get that information would be to call the MCAT themselves and ask them or ask the instructors of Kaplan or Princeton Review since they only hire people that scored in the 90th percentile on these exams, at least that used to be the case. It is generally true that the people who take the MCAT or other standardized test on the first round (i.e. the July o November) testing dates generally do better percentile wise if they repeated the test on the second or third round testing dates and there is a way of getting around the reporting of all scores if you are creative enough. Whether this has been corrected is beyond me.Another benefit of doing the RN-P or PA-C route is for if you are not successful at being an MD or getting into medical school. There are other options that you may be prepared for like a nurse anesthetist, which was in much higher demand the first time I heard of it and looked it up where salaries in at least 3 states were in excess of 280,000 per year but bear in mind that these require at least five years of emergency room type experience at least in practice that is unwritten.If you are willing to move to Montana, you can still get around 260,000 although the demand shock has appeared to equalize in the United States and wages are getting back to the usual range. Still, its generally a well paying salary that is almost 4 times the household average in some areas and higher than that of most MD professions. Two of the people I knew in these programs were also on employer paid training due to the scarcity.Nurse Anesthetists