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Screw it — time to spend

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  • Avatar burritos 
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    Status: Physician
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    Joined: 04/23/2018

    Texting from an over the water bungalow as we speak from the intercontinental at bora bora. Did it for our honeymoon at the meridian 18 years ago. Now bringing the little brats this time for a week. 17k. Btw I had no say. It was all my wife. Not a potus fan but not going to say no to the tax breaks he’s giving to us. That paid for it(though banking it would have been my 1,2,3rd choice)

    #220261 Reply
    Avatar AR 
    Participant
    Status: Physician
    Posts: 850
    Joined: 03/10/2016

    I haven’t been to NYC since the 80s, and given your stories of ticket prices I may never return.

    I saw Chorus Line and Cats on Broadway as a med student, Cats in the front row. One of the dancers crawled out of a tunnel practically into my lap. I can’t remember what I paid, but it wasn’t outrageous, even for a student. As I recall we did have to stand in line at TKTS, but that was part of the fun at the time.

    I saw Baryshnikov twice as a student. I doubt the first ticket was more than an inflation-adjusted $150-$200, and I attended the second concert in the free seats at the Muny (St. Louis) with a bunch of starving dancers.

    I suppose I might pay $2000 if there was a once-in-a-lifetime chance to see Baryshnikov from the front row, but I can’t imagine anything else worth $2000.

    I guess you can take the kid out of the blue-collar neighborhood, but …

    Click to expand…

    It’s all hype. If you are the person who watches Hamilton and thinks hmm that was kind of boring and dumb you aren’t going to say it because you don’t want to be the uncool person or whatever. There is a popular restaurant in Chicago called the girl and the goat, a colleague raved about it. The last time I was in the city we went, no joke the food was salty and it wasn’t good. It wasn’t terribly expensive or anything but it just wasn’t anything special.  I would have rather gone and got a Chicago hot dog or a gyro. The Ambiance just average, kind of dark. Just hype.

    Regarding the Birkin handbag. Sorry there’s just something fundamentally wrong with spending >10K on a handbag. It’s obscene, and unbecoming.

    Click to expand…

    Judging something as subjective as a restaurant experience seems odd. I happen to like that particular restaurant, but I’m sure there are other similar ones where I had a bad experience, but everyone else seems to like it.  These things happen.

    I’m with you on the bag, though.

    #220263 Reply
    Liked by wonka31
    Avatar snowcanyon 
    Participant
    Status: Physician
    Posts: 531
    Joined: 10/22/2018

    Some advice on Broadway tickets from my wise, parsimonious, and hip 88 year old mother. Aside from TKTS, the best way to get decent seats for a decent price is, and I know this is a shocker, to go to the box office.  Yep. It’s amazing how few people try this. Amongst other deals, Mom scored (just one example) Hamilton tickets for the same week for $137 each (original cast, natch) long after it was “sold out” six months ahead. She then repeated the feat a few weeks later, earning her “young, scrappy and hungry” pin.

    Perhaps the cheap Hamilton tickets justify my splurge on a 1k commuter bike?  I bike to work (and pretty much everywhere else) 8 months a year. My last $400 bike lasted five years, and this upgrade has a carbon belt drive, Shimano alfine internal hub AND dynamo lights. Woo hoo!

    #220276 Reply
    Avatar llessac15 
    Participant
    Status: Physician
    Posts: 99
    Joined: 01/17/2016

    I haven’t read all the comments so I not sure if this thread has stayed on topic or not. I’m just replying to the OP’s first post.

    I paid for my wife to take her mom, sister, and nieces to Turks and Caicos last month ($20,000 total). Rented a cool house on Sapodilla Bay and they loved it. I even stayed home with our 3 young kids myself and had clinic that week.

    My splurge on myself is buying a $20,000 boat 2 years ago.

    #220283 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 8137
    Joined: 01/09/2016

    Regarding whether a splurge is a “good deal” or not, there is no reason, impo, anybody should feel the need to justify this category of spending to those of us who may or may not value a particular item/experience. The issue is not the dollars spent on the splurge (as long as you can afford it); it’s whether you get the value out of it to make the expenditure worth the cost, be it a Frappuccino or 1st class international tickets. What is a waste to one person is a worthwhile experience/item to another. When it comes to an expenditure beyond what is “necessary”, value is subjective and in the eye of the beholder.

    I have really enjoyed this thread, even though some may view it as antithetical to the values of WCI (it’s not, if you dig deep enough). I believe splurges are a very healthy and necessary component of a responsible and well-thought out financial plan.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    Avatar bean1970 
    Participant
    Status: Physician
    Posts: 550
    Joined: 07/12/2017
    This goes to show that the frugal mentality that someone uses to achieve wealth doesn’t disappear when wealth is achieved

    Click to expand…

    This is largely true….we “lived like a resident”/”lived on 50% or less of our income”…..for nearly 20 years…..at some point when you save all that year after year after year…you end up with basically a boat load of money….at some point you have to make some decisions on what to do with it all…..and i don’t see anything wrong with spending some of it on yourself.  it won’t do me any good six feet under……so the one thing we do now for every trip (even flying 90 minutes)…is always fly first class……..sometimes we use points/upgrades…but we can just pay for it too…..sure is it weird after all those years paying for the cheapest seat on the plane? a bit…but several months ago i had to travel for work and you are required to book through the university travel system….which selects the cheapest seat…which nowadays includes fares on which you can’t even pay for an upgrade….oh it was torture…….

    probably NO ONE on this forum is at any risk of a splurge here and there……the people on this forum are doing the right things to make the splurges happen….what is more troubling is the family of four who puts the $8K tickets on their credit card and by the time they pay it off it is 12 years later at 22% interest…….  i heard a stat last Holiday season that the average family takes 5 years to pay off their credit card balance from the holiday gifts they purchase…..ugh….

     

    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
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    Joined: 01/09/2016

    @serrateanddominate – once again, I have fallen prey to the setting on the forum that one can never reverse a “like”. To clarify, I accidentally “liked” your comment viciously slandering UK. I am ardently compelled to state publicly that my unintentional touch of the screen in exactly the wrong spot was NOT meant to endorse your defamatory comment.

    Therefore, you will need to mentally reduce your “like” vote total by 1. There are numerous online calculators available to hep you with this project.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #220289 Reply
    hatton1 hatton1 
    Participant
    Status: Physician
    Posts: 3064
    Joined: 01/11/2016

    My most recent splurge was buying a very nice upgraded house for cash!  My greatest concert experience was seeing Robert Plant (Led Zeppelin) in a very small venue.  It was free because I had a date.  I have enjoyed going to 2 World Series games.  Again free.  Quite a good time if you have never been to one.  I have yet to fly first class but I would consider it for a long flight.  I have a great Chanel knock-off bag.  (Hand made in Florence Italy for 200 euro)  No Birkin in my future.

    #220302 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 635
    Joined: 01/08/2016

    Our splurge.. Buying a house at 1.25ish our salary 😛

    We also just booked a two week European vacation for $6k even though we have student and car loans still. 😎

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    #220317 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3477
    Joined: 01/21/2016
    Splash Refinancing Bonus

    Just providing commentary and my opinion. People may enjoy to hear it or they will not. That’s OK. My investments could all double and I would still not pay 10,000 on a plane ticket one way or round trip, it just seems like a rip off if you could get a ticket for 1000 bucks. Ill take the 9000 difference and spend it on the trip itself. First class tickets seem to me something airlines do knowing that companies will pay for it. This goes to show that the frugal mentality that someone uses to achieve wealth doesn’t disappear when wealth is achieved, it’s ingrained. That being said I think there is a good case to be made that if you have the money you might as well spend it.

    Click to expand…

    Agree with the airplane ticket and would rather dump the extra $9k into the trip. That has been our MO to date.

    Disagree that Hamilton is all hype. I guess that can be said about anything popular that does not live up to one’s individual expectations, but it is impossible for you to say that I (or anyone) wasted my money seeing Hamilton, three times!, if I loved it every time.

    This thread is about “over-the-top” splurges, not dumping on other people’s splurges.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    Avatar orthodoc2018 
    Participant
    Status: Physician
    Posts: 79
    Joined: 07/18/2018

    If someone is saving adequately for retirement and paying for indulgences in cash, I don’t see any reason to question what they spend their money on.

    Avatar Anne 
    Participant
    Status: Physician
    Posts: 1174
    Joined: 11/07/2017

    I haven’t been to NYC since the 80s, and given your stories of ticket prices I may never return.

    I saw Chorus Line and Cats on Broadway as a med student, Cats in the front row. One of the dancers crawled out of a tunnel practically into my lap. I can’t remember what I paid, but it wasn’t outrageous, even for a student. As I recall we did have to stand in line at TKTS, but that was part of the fun at the time.

    I saw Baryshnikov twice as a student. I doubt the first ticket was more than an inflation-adjusted $150-$200, and I attended the second concert in the free seats at the Muny (St. Louis) with a bunch of starving dancers.

    I suppose I might pay $2000 if there was a once-in-a-lifetime chance to see Baryshnikov from the front row, but I can’t imagine anything else worth $2000.

    I guess you can take the kid out of the blue-collar neighborhood, but …

    Click to expand…

    It’s all hype. If you are the person who watches Hamilton and thinks hmm that was kind of boring and dumb you aren’t going to say it because you don’t want to be the uncool person or whatever. There is a popular restaurant in Chicago called the girl and the goat, a colleague raved about it. The last time I was in the city we went, no joke the food was salty and it wasn’t good. It wasn’t terribly expensive or anything but it just wasn’t anything special.  I would have rather gone and got a Chicago hot dog or a gyro. The Ambiance just average, kind of dark. Just hype.

    Regarding the Birkin handbag. Sorry there’s just something fundamentally wrong with spending >10K on a handbag. It’s obscene, and unbecoming.

    Click to expand…

    This has nothing to do with your post, but I really love your new avatar. Literally one of the best opening song/video combos for any show ever.

    Click to expand…

    I on the other hand can only think about poor Uncle Scrooge getting a cervical spinal cord injury whenever I see that avatar.

    #220338 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3477
    Joined: 01/21/2016

    If someone is saving adequately for retirement and paying for indulgences in cash, I don’t see any reason to question what they spend their money on.

    Click to expand…

    Totally agree! If I enjoy setting $100 bills ablaze, so long as my responsibilities are well-covered, who should care?

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    #220339 Reply
    Liked by PhotonsRGR8
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 1862
    Joined: 02/11/2019

    Everyone values things differently and we are all in different stages of our careers. It was a big deal for us to spend$300 to see Billy Joel when I was a resident. Now I would gladly spend that just for a nice night out with my wife. The important thing I picked up from this thread is that we all seem to remember these splurges. So we thought it through and enjoyed the experience. That means we are spending intentionally.

    “Never let your sense of morals prevent you from doing what is right.”

    #220340 Reply
    Liked by bean1970
    Avatar Anne 
    Participant
    Status: Physician
    Posts: 1174
    Joined: 11/07/2017

    I bought myself a bag for about $1500 dollars when I came back from my first deployment.  I had saved/invested at least 60k during that deployment.  It was a designer I have liked and followed for years.   However, I subsequently discovered I am not a designer bag sort of person and it generally sits in my closet in its dustbag while I throw my phone and wallet into my jacket pockets.  My niece seems to be growing into a fashionista and the bag is a classic so hopefully someday she will want it.

    #220346 Reply

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