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Most non-frugalextravagant purchases?
Curious as to how others spend (waste?) their money. My wife and I are aggressive savers, but in the past couple years have tried to lighten up some. Our biggest unnecessary expenditures each month include a country club and luxury gym. We go on a couple modest family vacations a year, nothing crazy. I spend several thousand a year on sporting events. I still feel guilty spending money on these luxury items, despite saving plenty and donating each year.
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119 Replies
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What are you saving for? I dont understand the mentality of being super frugal for no reason. Life is short, enjoy it while you can. Be frugal in old age when you cant really do anything anyways.
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Sugar baby
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For the record I’m joking.
But if I were an old rich Rad status post a couple divorces…. not such a bad idea.-
Dream House … prime location, big lot, full custom modern.
In the process of being built.
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Quote from dergon
Dream House … prime location, big lot, full custom modern.
In the process of being built.
Now that’s a non frugal expense. Cuyahoga county will be taxing you to death as long as you own it.
The average effective property tax rate in Ohio is 1.41%. However, tax rates vary significantly between Ohio counties and cities. The highest rates are in Cuyahoga County, where the average effective rate is 2.51%. The county with the lowest rate is Lawrence County, which has an average effective rate of 0.86%.
[link=https://smartasset.com/taxes/ohio-property-tax-calculator#:~:text=other%20Midwestern%20states.-,The%20average%20effective%20property%20tax%20rate%20in%20Ohio%20is%201.41,average%20effective%20rate%20of%200.86%25.]https://smartasset.com/ta…20rate%20of%200.86%25.[/link]-
African safari with daughter and her friend. Worth every penny
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Fly business, nice hotels.
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Bad a** sticks (golf clubs) to hit bombs, good wine, and excellent seats at all sporting events and concerts.
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Quote from samichlaus
Fly business, nice hotels.
This was me for the last 20 years before the house. 🙂
(I’m the guy who forked over $700 a night for the paris hotel room but then is also *way* to cheap to use the mini bar so you see him carrying a grocery bag of store bought wine, beer, and snacks)
Once you start flying up front it’s hard to go back, especially when crossing oceans.
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Make sure you save lots of money on your house and car, then let it rip on everything else!
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Several exotic cars in my 30s and 40s. Porsche turbo cab tuned and after market exhaust.
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Interesting- after reading this thread I have learned that I actually dont waste nearly as much money as I thought, at least compared to other Rads..
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Mine was bought in a divorce. The guy had it for 22 years, and was in the process of building. Its oddly common that couples get divorced when building their dream house. Made 5 offers over 1 year. First 4 offers were not responded to. The guy did everything to not sell it but in the end, the attorneys forced sale against his wishes. Was a mess from the initial offer to the closing (which attorneys requested be delayed at the very end))
glad its over
hopefully cost of labor goes down
Quote from dergon
Quote from samichlaus
Fly business, nice hotels.
This was me for the last 20 years before the house. 🙂
(I’m the guy who forked over $700 a night for the paris hotel room but then is also *way* to cheap to use the mini bar so you see him carrying a grocery bag of store bought wine, beer, and snacks)
Once you start flying up front it’s hard to go back, especially when crossing oceans.
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Taylor Swift floor seats
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for me and daughter
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I’ve only flown domestic my entire life, even as my family with young kids gets separated sometimes on a Southwest flight. We take road trips for most vacations. Have only owned japanese and american cars. Had alcohol only once, as a 5 year old, when my dad passed me something. Never watched sporting events on TV, though I had to sit through part of a Super Bowl once.
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It makes sense to do road trips with a bigger family and is smart.
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Quote from RADD2010
It makes sense to do road trips with a bigger family and is smart.
This thread is not about what is smart. It’s about extravagance. Fine if you have nothing to share. “it’s OK”. But no need to be critical of those that are sharing.
Flounce lives a life I am envious of. He shares it and we can take what we want from that. He’s mostly not preachy about it which I respect.
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Why does it matter to anyone that I had dinners at Michelin star restaurants x3 in past 6 months with two trips outside US. You and your magazine Burgundy..LOL
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And by the way…The lunches at Michelin star restaurants are a steal.
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Simplicity is extravagance for me, even for this thread. Rich are not those who can afford to buy anything they can think of.
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So, pardon me if I think that Flounce has the most extravagant lifestyle right now. But thats me.
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Quote from RADD2010
And by the way…The lunches at Michelin star restaurants are a steal.
So true. 4 hour lunch at L’ Arpege a few weeks ago. Front of the bus there and back. I opted for a Cote Rotie for red but the Burgundy was white. -
Quote from RADD2010
Why does it matter to anyone that I had dinners at Michelin star restaurants x3 in past 6 months with two trips outside US. You and your magazine Burgundy..LOL
Glad you could share. Not sure why you had to throw in the last part but it must have something to do with your feeling of superiority. I usually associate that with wealthy people.
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Quote from Thread Enhancer
Quote from RADD2010
Why does it matter to anyone that I had dinners at Michelin star restaurants x3 in past 6 months with two trips outside US. You and your magazine Burgundy..LOL
Glad you could share. Not sure why you had to throw in the last part but it must have something to do with your feeling of superiority. I usually associate that with wealthy people.
I would think befriending PE bros wouldn’t be much fun but I have never done it. The superiority stuff would kill it for me.
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Not as much any more for health reasons, but I love getting japanese and australian steaks imported.
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Oh no. Forgot about steak!
And RAD. I dont really befriend them. Ive known most since school days. If they act superior they dont stay my friend.
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Oh right. Remembered another. Its not worth it and I actually enjoy rye whisky or a good single malt better, but I do have a bottle of 20 yr Pappy sitting to share with those that want to try it.
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never eaten at a michelin star but planning indian accent in nyc next month
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Youre better off. Ethnic, mostly Asian, is our go to.
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I have tried Pappy. Maybe i don’t have an educated palate but i was not blown away. Same with every time I have tried Louis13 Cognac…My best bottle of sips is Blanton’s Gold. Been slowly savoring this for 3 years.
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Don’t worry. Most of us aren’t born with a great palate. There are some super-tasters out there who intrinsically can tell what’s great from what’s just good. Others spend a life time figuring it out.
And in much greater number are those who pretend to have figured it out.
I’ve learned that I just don’t have it. Put me on a week’s long guided tasting in France with sommeliers talking me through it all day every day and over time I will convince myself that I’m learning.
Then I get back home and within a month I’m Thomas Haden Church in [i]Sideways[/i] … “Are you chewing gum?!”
[link=https://youtu.be/3_1JvyLKKH8]https://youtu.be/3_1JvyLKKH8[/link] -
[link=https://www.youtube.com/watch?v=8OWkkoTgddU&ab_channel=SevenFiftyDaily]https://www.youtube.com/w…hannel=SevenFiftyDaily[/link]
^^^ Dergon the super taster
floral, rose hips, almost some graphite, medium + acidity, tannins in the front -
My belief is that, truly, the experiences that are low and medium cost are no less enjoyable than the experiences that are expensive and require you to choose having them now versus later. Flying first class to Paris, five star hotel and Michelin restaurants, walking historic streets in $1000 shoes with a team of servants tossing rose petals in front of your path so that every step is soft and fragrant would be a great experience no doubt.
Teaching your 14 year old how to research and prepare for a backpacking trek, and spending 2-3 weeks on John Muir trail with him, mobile phones turned off the whole time, just talking to each other about life, laying on the ground and looking up at the Milky Way after it gets dark, hearing just the occasional animal in the distance and the crackle and pop of the fire. Falling asleep within 2 hours after it gets dark and not waking until the sun comes up, the type of deep sleep that only occurs when you are chilled, resetting your circadian rhythm, the chill in the fresh air in the morning as you slurp cowboy coffee and feel a bit sore in a healthy way.
Or the experience of watching an acclaimed play on broadway or visiting fancy art galleries to collect artversus having a studio at home and creating art that would not be recognized by others as great but is your own creation, that you love in the way you love your child even if they are not the best student or athlete or acclaimed.
They are completely different experiences, but we physicians tend to veer toward the experiences that cost more and take less time because we have more money but less time. One option is to give yourself a bit more time so you can enjoy those other things in life – like playing a sport you love for 5-10 hours a week long term instead of getting front row seats to Super Bowl or other event.
Or taking creative writing classes and meeting with local writers and trying to write the next great American novel, with the joy being in the process and the identity and the journey and the community , not in reaching some goal.
Just a consideration, regarding the dimensions of affluence and experience, and how it need not be zero sum of having experiences now or delayed gratification until later. Later, you may have more money and time yes, but you may no longer have the same interests and dreams and passions, and your children may not be young and see you as the greatest man in the world, and your parents may be in the ground and your love with your woman may have waned by years of the 9-5 grind. By seeking satisfying and enjoyable experiences that happen to be affordable and local while you are in training and throughout your working career, perhaps you can have your cake and eat it, too. If anyone has raced gas go karts on a full speed track , they will attest it is no less fun- if not more fun- than tracking your exotic supercar, and lets face it, most radiologists who can afford to own an exotic car cannot afford to track it. The experience has turned into owning and spending instead of doing and living. Which is not to say necessarily better or worse, just that one is more accessible for someone early to mid career and the other less so.
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Excellent post but way too deep for a simpleton superficial douche like me
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I agree with this.
Also it is more fun to track[i] someone else’s kart or car[/i], much less stressful.
Quote from Flounce
If anyone has raced gas go karts on a full speed track , they will attest it is no less fun- if not more fun- than tracking your exotic supercar,
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Quote from Flounce
My belief is that, truly, the experiences that are low and medium cost are no less enjoyable than the experiences that are expensive and require you to choose having them now versus later. [b]Flying first class to Paris, five star hotel and Michelin restaurants, walking historic streets in $1000 shoes with a team of servants tossing rose petals in front of your path so that every step is soft and fragrant would be a great experience no doubt.[/b]
Teaching your 14 year old how to research and prepare for a backpacking trek, and spending 2-3 weeks on John Muir trail with him, mobile phones turned off the whole time, just talking to each other about life, laying on the ground and looking up at the Milky Way after it gets dark, hearing just the occasional animal in the distance and the crackle and pop of the fire. Falling asleep within 2 hours after it gets dark and not waking until the sun comes up, the type of deep sleep that only occurs when you are chilled, resetting your circadian rhythm, the chill in the fresh air in the morning as you slurp cowboy coffee and feel a bit sore in a healthy way.
Or the experience of watching an acclaimed play on broadway or visiting fancy art galleries to collect artversus having a studio at home and creating art that would not be recognized by others as great but is your own creation, that you love in the way you love your child even if they are not the best student or athlete or acclaimed.
They are completely different experiences, but we physicians tend to veer toward the experiences that cost more and take less time because we have more money but less time. One option is to give yourself a bit more time so you can enjoy those other things in life – like playing a sport you love for 5-10 hours a week long term instead of getting front row seats to Super Bowl or other event.
Or taking creative writing classes and meeting with local writers and trying to write the next great American novel, with the joy being in the process and the identity and the journey and the community , not in reaching some goal.
Just a consideration, regarding the dimensions of affluence and experience, and how it need not be zero sum of having experiences now or delayed gratification until later. Later, you may have more money and time yes, but you may no longer have the same interests and dreams and passions, and your children may not be young and see you as the greatest man in the world, and your parents may be in the ground and your love with your woman may have waned by years of the 9-5 grind. By seeking satisfying and enjoyable experiences that happen to be affordable and local while you are in training and throughout your working career, perhaps you can have your cake and eat it, too. If anyone has raced gas go karts on a full speed track , they will attest it is no less fun- if not more fun- than tracking your exotic supercar, and lets face it, most radiologists who can afford to own an exotic car cannot afford to track it. The experience has turned into owning and spending instead of doing and living. Which is not to say necessarily better or worse, just that one is more accessible for someone early to mid career and the other less so.
As usual you are spot on. I am merely trying to make the case that as a radiologist we can do both with relative ease. I would not waste money on the “extravagant” stuff it meant I had to give up the things of much greater value. -
Quote from Flounce
If anyone has raced gas go karts on a full speed track , they will attest it is no less fun- if not more fun- than tracking your exotic supercar, and lets face it, most radiologists who can afford to own an exotic car cannot afford to track it. The experience has turned into owning and spending instead of doing and living. Which is not to say necessarily better or worse, just that one is more accessible for someone early to mid career and the other less so.
if you can’t afford to crash it, you can’t fully enjoy tracking it (and no I don’t own an exotic; no interest for multiple reasons)
haven’t done karts, but I have no doubt that’s true. The excitement on the track is mostly in the turns. That’s why, on the track, a Porsche GT3 is more fun than the new Turbo S, even though the latter is much more powerful (which you can definitely feel on the straights)
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Quote from theSNACman
[link=https://www.youtube.com/watch?v=8OWkkoTgddU&ab_channel=SevenFiftyDaily]https://www.youtube.com/w…hannel=SevenFiftyDaily[/link]
floral, rose hips, almost some graphite, medium + acidity, tannins in the front
that’s impressive …
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Quote from dergon
Don’t worry. Most of us aren’t born with a great palate. [b]There are some super-tasters out there who intrinsically can tell what’s great from what’s just good. [/b] Others spend a life time figuring it out.
And in much greater number are those who pretend to have figured it out.
I’ve learned that I just don’t have it. Put me on a week’s long guided tasting in France with sommeliers talking me through it all day every day and over time I will convince myself that I’m learning.
Then I get back home and within a month I’m Thomas Haden Church in [i]Sideways[/i] … “Are you chewing gum?!”
[link=https://youtu.be/3_1JvyLKKH8]https://youtu.be/3_1JvyLKKH8[/link]
Excellent post. On the bold. They can notice the difference but the judgment regarding “good” or “great” comes more from being told by others what the convention is. “It’s an acquired taste” 😉
I have enjoyed traveling and tasting and learning. I’ve been lucky to experience things beyond what I should be able to afford as a physician. At least in todays world. I have generous friends. I certainly never turn them down. However, I often find wines in our blind tastings that I enjoy just as much and are within my price range. It’s a great time to enjoy wine, not a great time to enjoy the old classics, if you are not a multimillionaire or better.
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Flounce, one day when i move back to the west coast/bay area (june 2024) take me back packing with you
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in reply to OP –
extravagant purchases:
flying first class when traveling with wife. Nice hotels.
Got a rolex GMT this year.
Alinea.
A few higher end bags and some jewelry for the wife. That’s it…
Too early in my career to buy the stuff I really dream about. (Cars mostly, haha). -
No need to wait on the cars. Put down 20% and drive for a couple years and then sell before the depreciation curve intersects with amount you still owe. Buy the car 1 to 2 years old with lower miles and make sure it is still under warranty. Drive for 1 to 2 years and then rinse and repeat. Also helps to have a fully paid off beater as your primary daily driver. I have never owned any of my exotics outright.
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SNACman, backpacking is awesome, should def try it if you havent. I cant promise to take you myself but here are two guided services that can take you and your kids if you need help:
[link=https://www.internationalalpineguides.com/california-hiking]https://www.international….com/california-hiking[/link]
[link=https://tsxchallenge.com/trek-dates/trans-sierra-xtreme-challenge/]https://tsxchallenge.com/…erra-xtreme-challenge/[/link]
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Quote from Flounce
SNACman, backpacking is awesome, should def try it if you havent. I cant promise to take you myself but here are two guided services that can take you and your kids if you need help:
[link=https://www.internationalalpineguides.com/california-hiking]https://www.international….com/california-hiking[/link]
[link=https://tsxchallenge.com/trek-dates/trans-sierra-xtreme-challenge/]https://tsxchallenge.com/…erra-xtreme-challenge/[/link]
Did lots of backpacking as a kid and young adult. Unfortunately, it was replaced with less vigorous walking as I aged but I made sure to expose my children through organizations like NOLS. It’s life changing for them. Great thing to do in a gap year before college. Really gives them perspective. Just visited with a friend’s daughter who did a three month NOLS in Patagonia. What a level headed young adult. Hearing their stories has me thinking I should get back to it.
One of my good friends is planning a point to point hike in Tasmania next year. He is trying to get me to go and I should do it. He did the entire John Muir trail a few years ago. I have another school friend that has done the Pacific Coast Trail, Continental Divide and Appalachian Trail. I love seeing his updates on FB but don’t think I could handle that extreme. -
Porsche 911 GT3 touring package.. what a dream for a suburban Dad like me. Me want!!
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I’ve done the cars (some at least). Had a GT500 for a year, sold to another rad. No high dollar exotics, had an old 928 for a bit. Next up a 911 targa or cabrio.
I’ve had pappy a few times, but I really couldnt pick it out of a lineup of good bourbon.
best things for me to spend on is to provide for family and loved ones to get to do those things they might not otherwise get to do, travel, etc. I dont care much about travel but I understand those that do. Lately paying for inhome care for aging parent. -
Quote from kcrad
I’ve done the cars (some at least). Had a GT500 for a year, sold to another rad. No high dollar exotics, had an old 928 for a bit. Next up a 911 targa or cabrio.
I’ve had pappy a few times, but I really couldnt pick it out of a lineup of good bourbon.
best things for me to spend on is to provide for family and loved ones to get to do those things they might not otherwise get to do, travel, etc. I dont care much about travel but I understand those that do. L[u][b]ately paying for inhome care for aging parent.[/b][/u]
Much , much respect for that. Not cheap and not many people do these kinds of things anymore. -
Quote from Sir Read Alot
No need to wait on the cars. Put down 20% and drive for a couple years and then sell before the depreciation curve intersects with amount you still owe. Buy the car 1 to 2 years old with lower miles and make sure it is still under warranty. Drive for 1 to 2 years and then rinse and repeat. Also helps to have a fully paid off beater as your primary daily driver. I have never owned any of my exotics outright.
Do you think this still works in today’s market, especially at going interest rates at inflated car values? -
Yes, just need to find the sweet spot and the right car. Some cars will actually increase in value. I dont promote this guy, but he has some good tips- exoticcarhacks.com. Right now ANY porsche is a good deal, if you can get one. A Ferrari 458 is good (last naturally aspirated engine before the change to 488). I have a shelby GT 500. This is the last year they are making these so it will retain its value and i am sure to at least break even when i sell it. They are making an electric version of it next. THe worst cars that plummet in value are Mclarens.
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Quote from Sir Read Alot
No need to wait on the cars. Put down 20% and drive for a couple years and then sell before the depreciation curve intersects with amount you still owe. Buy the car 1 to 2 years old with lower miles and make sure it is still under warranty. Drive for 1 to 2 years and then rinse and repeat. Also helps to have a fully paid off beater as your primary daily driver. I have never owned any of my exotics outright.
Good advice and similar to what other colleagues have told me….But currently saving up for a house so waiting a bit longer. In the meantime contemplating a lease on something more reasonable (taycan, panamera, s class etc).
Already have a great / easy beater (acura) that I owe barely anything on. probably going to pay it off at lease end and just keep it. -
Quote from dergon
Don’t worry. Most of us aren’t born with a great palate. There are some super-tasters out there who intrinsically can tell what’s great from what’s just good. Others spend a life time figuring it out.
And in much greater number are those who pretend to have figured it out.
I’ve learned that I just don’t have it. Put me on a week’s long guided tasting in France with sommeliers talking me through it all day every day and over time I will convince myself that I’m learning.
Then I get back home and within a month I’m Thomas Haden Church in [i]Sideways[/i] … “Are you chewing gum?!”
[link=https://youtu.be/3_1JvyLKKH8]https://youtu.be/3_1JvyLKKH8[/link]
100%. I believe there are people who can taste a bunch of subtle things that I can’t. I consider it a blessing that I’m just as happy with a moderately priced glass of wine as something much more pricey (and couldn’t tell you which was which). My SO unfortunately does have such a discerning palate and likes expensive pinot noir, so she drinks that while I drink moderately priced chardonnay.
Also learned that on the rare occasion I drink spirits I enjoy cocktails, not neat/on the rocks/etc. So, no point spending money on the bourbon insanity of the moment.
Definitely experiences with people you care about are what life is all about. If you don’t have that, money means nothing. We all know that, even if we don’t always live it. But, as a tall person, being able to buy extra leg room on long flights is very nice (>5 hours is my threshold, unless first class is unusually cheap then I’ll drop it to 4 hours. Paying for first class on a 2 hour flight strikes me as absurd). That said, spent years flying economy with small children etc, which is hardly enjoyable, but still had wonderful trips. -
Quote from Sir Read Alot
I have tried Pappy. Maybe i don’t have an educated palate but i was not blown away. Same with every time I have tried Louis13 Cognac…My best bottle of sips is Blanton’s Gold. Been slowly savoring this for 3 years.
Your palate is fine. Most of the driving the price of things like Pappy have no palate. They just hear from others and they have a lot money so they have to have it. I was fortunate to get a bottle near cost. Agree, it’s not my favorite style. It’s all about that caramel/vanilla that comes from the long time in a charred barrel.
I too am a fan of Blanton’s. Have not had the Gold. Will search it out on your rec.
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Quote from drad123
Quote from dergon
Dream House … prime location, big lot, full custom modern.
In the process of being built.
Now that’s a non frugal expense. Cuyahoga county will be taxing you to death as long as you own it.
The average effective property tax rate in Ohio is 1.41%. However, tax rates vary significantly between Ohio counties and cities. The highest rates are in Cuyahoga County, where the average effective rate is 2.51%. The county with the lowest rate is Lawrence County, which has an average effective rate of 0.86%.
[link=https://smartasset.com/taxes/ohio-property-tax-calculator#:~:text=other%20Midwestern%20states.-,The%20average%20effective%20property%20tax%20rate%20in%20Ohio%20is%201.41,average%20effective%20rate%20of%200.86%25.]https://smartasset.com/ta…20rate%20of%200.86%25.[/link]
15 year tax abatement, baby 🙂
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My favorites from what has been posted so far: luxury gym, 5* hotels, African safari, excellent seats for sports and concerts.
Spending on experiences is the way to go.
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Oh yeah, forgot Grand Cru Burgundy.
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I would say to each their own. Luxury is different for different people at different times in life. My Grand Cru Burgundy sometimes fades in front of wines from New Zealand. And it tastes better with friends who also enjoy wine. My African safari was excellent, but I spent less than half of what my luxury ski trip was in Europe. They were great, and done with that. …..currently believing in great sex, great dinner and spending quality time with someone that money cannot simply buy. Simplicity and time for mundane things is luxury for me now. Definition of luxury keeps changing for me ….and thats life.
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Quote from RADD2010
I would say to each their own. Luxury is different for different people at different times in life. My Grand Cru Burgundy sometimes fades in front of wines from New Zealand. And it tastes better with friends who also enjoy wine. My African safari was excellent, but I spent less than half of what my luxury ski trip was in Europe. They were great, and done with that. …..currently believing in great sex, great dinner and spending quality time with someone that money cannot simply buy. Simplicity and time for mundane things is luxury for me now. Definition of luxury keeps changing for me ….and thats life.
Oh come on RAD. Live a little. This is “extravagance” and “non-frugal”.
We can all give examples of the “best things in life are free” and I don’t disagree. I love a “luxurious” walk around town with family. It is life.
I do wonder how anyone in their right mind could enjoy a New Zealand pinot over Burgundy…
No, you are correct. The former is much more likely to be at least drinkable. Burgundy can be a huge disappointment. That’s why it’s non-frugal and extravagant. Because despite the stupid cost, there is nothing like that great bottle. -
I even prefer Beaujolais to Burgundy, which is ok. You have not been to New Zealand..it is OK as well.
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Why would make an ignorant statement about where I have been? I guess its ok.
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If you try 2020 burgundy Pinot and compare to Russian River or New Zealand or South Africa, the burgundy is much much sweeter and tastes not so good. I believe that global warming has the new world moving their grapes, but France is stuck as they have their regions carved out …a century ago and they can’t move their grapes to cooler areas. The New World Pinot is much more exciting compared to burgundy these days….
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lot for building home. 0.9 ac. overpaid after 1 year of negotiations.
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Quote from theSNACman
lot for building home. 0.9 ac. overpaid after 1 year of negotiations.
Nice. Back to non frugal and extravagant. Beaujolais is nowhere close. -
i paid about 8000$ for this. weighs about 200 lbs. much bigger than it looks in the pic.
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i know nothing about wine, but my parents have a vineyard in their backyard and bottle their wine. Id share pics but my last name is the name of the wine so i dont want to dox myself. if anyone lives near the bay area ill mail them some.
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Quote from theSNACman
i paid about 8000$ for this. weighs about 200 lbs. much bigger than it looks in the pic.
What does/can it do that a $2000 PC cant?
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absolutely nothing.
i have a 1300$ PC in CA i read from a few weeks a year. it works equally as good.
Wish i knew that before i wasted all that money lol
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Non Frugal, Extravagant and Pompous.
Also, Russian River Valley Pinots are still great, better than Burgundy at least for 2020.
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Quote from RADD2010
Non Frugal, Extravagant and Pompous.
Also, Russian River Valley Pinots are still great, better than Burgundy at least for 2020.
Give it a rest. You are frugal and not extravagant. Its ok.
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What percentage of income should a young rad be saving/investing?
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i try and save 50% of my pre-tax income
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wow so you’re saving/investing ~80-90k/month. That’s insane. Good for you!
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closer to 70k/month savings.
id like to save more but theres only so much i can stop my wife from spending lol.
i have to hear crap like “you make 1__k last month and we are sitting middle seat row 50 near the bathroom”
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Luxury for me is going to a supermarket and not looking prices. Always has been.
As far as “things”; I’m in the process of catharsis. It’s amazing how freeing it is to declutter. Don’t miss 99% of it.
I think paying for experiences is where it is at. Good food, vacation, concert, whatever.
What’s the old joke? Boats, planes, summer houses and women, better to rent than own…
I don’t believe the women part, but makes the joke better. -
agree on paying for experiences. but id rather do that after the house/kids/savings are set up. i feel too many people rush into that early on in the career and then are forced to work till 65
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Problem is you never know if you’ll live long enough after “everything is set up.” Tomorrow, next week, next year, etc. is not guaranteed even if you’re still young.
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Yeah but Id leave my family in a much better situation if I got hit by a bus next year. I never want their quality of life to go down, even if I couldnt earn anymore
Thats kinda how my parents did it, work hard, set up a nice life, pay it all off, passive income. Then, enjoy stress free.
So its just engrained in me to do it that way
I cant bring myself to drop 15k on plane tickets like my friends do (who make 4x less than me). Ill buy those tickets when they are paid for with passive income. Till then its middle seat, row 55 for me. Preferably not near the bathroom
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Quote from theSNACman
agree on paying for experiences. but id rather do that after the house/kids/savings are set up. i feel too many people rush into that early on in the career and then are forced to work till 65
I completely understand this approach. However, since I really like what I do and do it a pace I could continue well passed typical retirement age, I made the decision to enjoy “extravagant” things when I was young. I didn’t flying in the front of the bus until more recently but dergon is correct. It’s hard to go back once experiencing being able to sleep flat for 8 hours on the way to New Zealand to drink some junk pinot.
Will I be able to retire before 65? No, but there is still a sizable nest egg and I can easily go half time in my 60s. Just trying to balance things. -
I should be able to fully retire with the lifestyle I want by 42-43.
But I love what I do, and will continue to do it at least 20 hrs a week till Im too old to do it anymore.
I also have the luxury of a spouse who agree and also always wants to work a few hours a day till as long as she can.
Iv never found the idea of full retirement with 0 work appealing. Its important to keep active and have a schedule imo
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My side gig is 2 hour per day (m-f) which brings in 265k per year. That sounds like a good retirement for me
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I love it SNAC. It amuses me when people share on here and there is always someone who comes in and explains why their way is better. Often by telling someone what they are sharing is not even true.
Oh well, I think you have found an ideal approach, for you.
We should all be that comfortable with our decisions. -
Fasho
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Heads to Google to learn what the youth are saying….
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TE, Seems like get your info from magazines and order your Burgundy based on that. That is definitely a luxury, that ANY radiologist can afford.
Since you are a Burgundy fan, I would suggest to start with Willamette in Oregon. You will find plenty of Pinots better than Burgundy at village wine prices. You don’t even have to go to New Zealand or South Africa. My version of luxury would be to find boutique Oregon Pinots that combine northern and southern Pinot grapes at a fraction of the price. That time to find the Pinot you like, from the farmers you meet is luxury.
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Quote from RADD2010
TE, Seems like get your info from magazines and order your Burgundy based on that. That is definitely a luxury, that ANY radiologist can afford.
Since you are a Burgundy fan, I would suggest to start with Willamette in Oregon. You will find plenty of Pinots better than Burgundy at village wine prices. You don’t even have to go to New Zealand or South Africa. My version of luxury would be to find boutique Oregon Pinots that combine northern and southern Pinot grapes at a fraction of the price. That time to find the Pinot you like, from the farmers you meet is luxury.
Wrong but I’ll play. I drink the wines, mostly with my generous friends. They go to Burgundy every year and taste from the barrel to pick what they should buy. A few are on the DRC list. They share way more frequently than I deserve. I can’t afford the great Grand Cru Burgundy anymore even on my rad salary. I do have a 2002 La Tache that cost $650 when I bought it. One of the best I ever bought and drank was a 1990 Rousseau Chambertin I got for $129. I’m sure you know what those goes for now.
My tasting group routinely puts up new world versus old world pinot in blind tastings and new world is almost always noticed and rarely preferred. There was an older Rochioli that fooled a few of us once. Also a Calera “Jensen” Vineyard. I think that was an ’85. Thats’ two wines over about twenty years.
We’ve had most of the boutique Oregon pinots. I even like them. They just don’t compare to Grand Cru for our palette but it’s ok. We are probably pompous. I’ll be joining a Confrérie des Chevaliers du Tastevin tasting next month. They certainly are pompous. No interest in joining but they should pour some great bottles.
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LOL, I am glad your palate is aligned with your friends who go to Burgundy. A trip saved !! And I am glad you like small batch Oregon pinots as well 🙂
New world Pinot wins a lot of times in my friends circle… from varied wine growing regions across the world and not the same every time. -
Our palates are not much different RADD. Remember, we are talking “extravagant”. Not daily use. Sorry if an occasional splurge upsets your sensibility. We all know the excess cost is not really “worth it”
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Used to own and pilot multi engine turboprop. flew it for 10 years abt 1500 hundred dollars an hour to operate back then at 120 hours per year so about 180k a year mostly post tax money.sold in 2019 probably more like 2000-2500/ur to run now with inflation. Fun experience but glad its gone.was a pilot before getting into the medical thing.
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Risky activity. Amateur pilots crash and die a lot. JFK Jr anyone? -
Oh yeah something you definitely had to be aware of things happen very fast at 300mph thus 120 hrs a year would be probably the minimum to stay current
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For me…personal training, german cars, flying firstclass for the fam and staying at top notch resorts/hotels.
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Quote from FLAP
Used to own and pilot multi engine turboprop. flew it for 10 years abt 1500 hundred dollars an hour to operate back then at 120 hours per year so about 180k a year mostly post tax money.sold in 2019 probably more like 2000-2500/ur to run now with inflation. Fun experience but glad its gone.was a pilot before getting into the medical thing.
Winner winner
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Every thing in aviation was mad money when getting into jets/ turbines, break a windshield 100k for a new one. King air needs landing gear overhauled every 5 years which means basically torn down measured and put back together 150-200k. Seen single parts no bigger than my hand on landing gear cost quarter mil.again this was back with money from 10 years ago.
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Quote from FLAP
Used to own and pilot multi engine turboprop. flew it for 10 years abt 1500 hundred dollars an hour to operate back then at 120 hours per year so about 180k a year mostly post tax money.sold in 2019 probably more like 2000-2500/ur to run now with inflation. Fun experience but glad its gone.was a pilot before getting into the medical thing.
That’s great.
For a while I fantasized about buying a float plane to get in and out of my Canaidan island property.
But I’m not a trained pilot and I figured later in life was just a good way to get myself killed.
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Quote from dergon
Quote from FLAP
Used to own and pilot multi engine turboprop. flew it for 10 years abt 1500 hundred dollars an hour to operate back then at 120 hours per year so about 180k a year mostly post tax money.sold in 2019 probably more like 2000-2500/ur to run now with inflation. Fun experience but glad its gone.was a pilot before getting into the medical thing.
That’s great.
For a while I fantasized about buying a float plane to get in and out of my Canaidan island property.
But I’m not a trained pilot and I figured later in life was just a good way to get myself killed.
Smart dergon. I have a friend that owns a Turbo Beaver that he uses to fly and out of his Canadian lake house. He is the most experienced non commercial pilot I know and spends a week a year in simulator training because he also flies jets. He told me all sorts of stories of what can go wrong and prepped us relentlessly about what to do in an emergency before we flew in it with him.
A doc buying one of these would likely kill themselves and family in it. -
Obesity — this will be cured soon enough. Ozempic is just the start. Like I said, we are about to enter the golden age of longevity imo. -
Feel the same about teenagers < 16 on these e-bikes which are now basically motorcycles.
Theyre all over in car lanes now where I am. Legal but asking for injury and death, imo.
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Quote from FLAP
Used to own and pilot multi engine turboprop. flew it for 10 years abt 1500 hundred dollars an hour to operate back then at 120 hours per year so about 180k a year mostly post tax money.sold in 2019 probably more like 2000-2500/ur to run now with inflation. Fun experience but glad its gone.was a pilot before getting into the medical thing.
If you make 500k, 200k goes to taxes, 300k left, 100k living expenses. Sounds like that ate all your disposable income up. Yikes
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Yeah, I worked pretty hard at the time
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Haven’t made any yet since still early in career/almost 2 years out of training. Paying off massive student loan burden aggressively and trying to save up for possible house downpayment sometime in the future. Eventually want to own a track car (i.e. GT3 RS or something similar) and do some track days with it. Being able to fly business class would also be nice. Still flying economy like SNACman lol
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Economy is fine for domestic. Flights over 8 hours, business is money well spent. Especially if you are going to work the next day upon return
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my rad friends make fun of me and say i fly in the “sh1tter seats” because people fart a lot near me as they que up for the bathroom in the back of the plane
sometimes its hard to see a 10 year old kid in business class on my way back to my sh1tter seat -
as soon as my wife becomes an attending June 2024, my flying will dramatically decrease. I think at that time ill be done with economy
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Its good to make yourself purposefully uncomfortable every now and then. Its one of the very powerful Stoic strategies to life a good life and obtain mental peace and stability.
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Sitting wedged between two obese individuals spilling into your seat would make even the most ardent stoic lose their shyt.
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im often in that position, as 70% of America is morbidly obese
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Quote from theSNACman
my rad friends make fun of me and say i fly in the “sh1tter seats” because people fart a lot near me as they que up for the bathroom in the back of the plane
sometimes its hard to see a 10 year old kid in business class on my way back to my sh1tter seat
Realize a lot of these kids are getting upgraded on their parents’ status. Most of my business/first travel is not full price. Often get last minute upgrades at check in for a small up charge or can upgrade with miles. Sometimes get it for free. My wife recently got an upgrade offer for her and both kids to first class transatlantic for $300 a piece. -
Quote from theSNACman
lot for building home. 0.9 ac. overpaid after 1 year of negotiations.
Same…. except negotiations over a few months.
Our first offers were rejected, then the guy took it off the market, then put it back on, then rejected another.
Finally a realtor friend of mine gave me this piece of advice “Well, did you offer the asking price? Because in this market the asking price is the low end.”
Offered ask. Done. -
Ive never had an over ripe sweet Burgundy but it is ok. Russian River is a terrible place to grow Pinot now because its too hot. Give me Sonoma Coast and maybe you make some sense.
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Quote from drad123
Quote from dergon
Dream House … prime location, big lot, full custom modern.
In the process of being built.
Now that’s a non frugal expense. Cuyahoga county will be taxing you to death as long as you own it.
The average effective property tax rate in Ohio is 1.41%. However, tax rates vary significantly between Ohio counties and cities. The highest rates are in Cuyahoga County, where the average effective rate is 2.51%. The county with the lowest rate is Lawrence County, which has an average effective rate of 0.86%.
[link=https://smartasset.com/taxes/ohio-property-tax-calculator#:~:text=other%20Midwestern%20states.-,The%20average%20effective%20property%20tax%20rate%20in%20Ohio%20is%201.41,average%20effective%20rate%20of%200.86%25.]https://smartasset.com/ta…20rate%20of%200.86%25.[/link]
Better than Texas!! We pay up to 2.8% which is 2-3 times of many other places, and goes up every year. Daylight robbery.-
Yeah but in Texas those taxes go to good use – for example there is no risk of being murdered if you go to elementary school, Walmart or a shopping mall.. oh wait.
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My luxury is 4 boxes of 9mm every sunday at the range. About 80 bucks, $320 a month, though it’s a business expense for an LLC i’ve set up for handgun instruction and other trainings I offer.
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Kitchen renovation, luxury style and it is functional and the family loves it.
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5 star hotels, airfare that is not economy, giving money to parents
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A nice theater room for watching sports and movies is something my entire family use
Virtual reality baseball simulator is also the bomb for my son and myself teach him how to hit the curve within tearing my elbow up
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Private club memberships and flying business/first overseas.
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Quote from RoleCall
5 star hotels, airfare that is not economy, giving money to parents
exactly the same. lol
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981 Boxster Spyder. Replaced seat inserts with red/black/white Pepita houndstooth. Redid steering wheel and shifter with red accents to match exterior. Swapped OEM exhaust headers with hi-flow catted performance units. All obscenely overpriced, completely unnecessary mods to an already obscenely overpriced buggy.
Got a Krieghoff K-20 a couple of years ago. Another obscenely overpriced doo-dad, especially compared to a Beretta or Browning.
But hey, my kids are out of the house and on their own, I’ve got no debt, I’m on track for retirement goals and I’m healthy, so it’s not like I’m financially reckless.
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sexy
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