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  • Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    We just purchased what I hope will be our last house.  Spent 510k.   We are around 300k a year income.  Still trying to sell our old house at the moment so we currently own around 1 million in real estate, 650k of it is mortgage debt.  It’s not too bad making the payments on both, but I wouldn’t want to stay in this situation forever. If I made your kind of income though, it wouldn’t be a big deal at all.

    But, don’t assume it’s your “forever home”  We’ve moved 4 times since we got married 14 years ago.  This last house is a property located on the farm where my wife grew up.  So, I know we won’t be selling it.

    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    I have a Waterloo, made by Collings guitars.  They are basically a high quality remake of the iconic Kalamazoo guitars produced in the 1930s by Gibson.  I absolutely love mine.  They are reasonably priced for a Collings.  I think mine was around $1600.  I’m not a super serious player, but I have friends who are professional musicians and they have been very impressed by it.

    in reply to: Guitars! #251688 Reply
    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    Reminds me of a former employer.  When our contracts were up for renewal they would keep giving us the run around when we asked to see the actual contracts.  Then, all of the sudden on a Friday afternoon, the week before our contracts were expired, they would say here are your contracts for review…if you don’t want to experience a disruption in your paychecks, please sign and return by Monday morning at 9am.

    And of course, because my group was full of new grads and other not so business savvy people, some of the docs signed it immediately before the weekend and didn’t bother reviewing it much at all.  This results in zero negotiating power from anyone as soon as one person signs it they will just say…”well your partners are signing it already, what’s your problem?”

    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    We had a doc get fired by the hospital after he took a picture of a patient’s interesting physical exam finding with his phone (I think he wanted to keep it for academic purposes).  The problem arose when the picture was automatically uploaded to the cloud server (his phone was set to automatically back up his pictures).  Somehow the hospital found out that this happened and there was nothing anyone could do, they fired him instantly for violating HIPPA.

     

    But, yes, yet another reason I no longer use any form of social media is because of the potential legal and/or professional risks you take every time you get on there.  These are public domains where anyone, (patients, employers, the media, etc) can see what you’re doing, saying, and how you’re behaving.  Not worth that kind of risk IMO.

    in reply to: Social media horror stories for medical professionals #250451 Reply
    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    You don’t need to be financially independent or retire early to be a dreamer. Your career should be a vehicle for your passion, not an obstacle thereof. Do what you love, love what you do.

    Those of us who are mid-career know the clock seems to be ticking faster, as those who are in retirement. Are you living or merely existing? Retirement is not a magic pill. If you’re not one to seize the day today, you likely won’t do it then either. Reinvent yourself if you must, but do it today. Don’t rely on FI and/or RE.

    Power in truth.

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    I agree with this sentiment, but I also recognize that it’s often easier said then done, especially for doctors and especially the older we get.  If I wanted to reinvent myself right now, I would quit medicine completely and try to find something I enjoy doing (I have lots of interests I’d look into).  Most likely, however, I wouldn’t be able to find anything that paid even remotely close to what I’m making now.  Even though we live below our means, we’d still have to make drastic changes to our lives in order for me to be able to afford to do something like that.  So, if I were going to be a “dreamer” and quit my job, I better have a really good reason for it and I better be certain that the new thing would be wonderful, because otherwise I could be putting myself and my family through unnecessary hardship just to follow a dream.  I guess it’s a personality thing, but I’d rather keep trying to reach FI first and follow my interests as hobbies on my days off for now.  Who knows, maybe one of those interests could turn into something bigger with time, but for now, I need to pay the bills and save

    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    Like others have said, my goal is FI, not necessarily the RE portion.  I want to get to FI so I can do something other than medicine if I so desire. I don’t like my career, but I can tolerate it knowing that if I stick to it long enough, I’ll buy myself and my family freedom from the rat race.  I have a long way to go however so the idea of retiring early seems like a pipe dream right now.

    in reply to: Anyone change their mind about FIRE? #250435 Reply
    Liked by Fullhouse11, G
    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016
    Earnest refinancing bonus

    No! Don’t spray round up in a garden bed!  That’s insane!  This is where you’ll be eating from.  Why would you want to trust a government agency (gutted by Trump) to tell you that a chemical designed to prevent plants from growing would be safe to also ingest in your body?

    Pull the weeds by hand or with a garden hoe.

    I helped my young granddaughters build, fill and plant a raised bed garden this spring. Now that the growing season is coming to an end, I noticed that Bermuda grass is taking over the beds. Ideally I would spray with generic RoundUp to kill this invasive plant. However, I’m a little concerned about its safety. The EPA says it’s safe and it is rapidly degradable in the soil.

    Click to expand…

     

    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016
    Charging infrastructure is the bottleneck. If you think gas lines are a pain, geez (30 minutes to 24 hours)! 

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    The bottle neck is not usually the single family homes where you should be able to install a 14-50 outlet with not much electrician costs.

    It is for people who live in apartments, condos and town homes with no garages and hence cannot have easy access to charging at night while they sleep. If they can address it then the adoption of EV’s will be faster.

    Click to expand…

    That’s a good point.  You don’t necessarily need a garage, because they do make charging stations that are okay to install outdoors so if you have at least an off street parking spot you can install one of these.  But, if you have no off street parking ability, then an electric car would be tough.  One of our neighbors has a Nissan Leaf that I occasionally see plugged into their front stoop outlet.  They run an extension cord across the sidewalk.  Not exactly a good solution though as it’s vulnerable to people messing with it or even stealing the cord.

    in reply to: Tesla #250316 Reply
    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    Ignoring the reality of this comparison, do millennials equate the EV’s to a combustion as they do smart phones to flip/analog phones? And is apple the tesla of cars?

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    I don’t think it’s just millennials that are really excited about Tesla.  I see a lot more middle-aged folks cruising around in Teslas where I live.  For me, I respect Tesla for it’s willingness to push norms and do what others say won’t work.  I see electric vehicles as far better machines for a whole myriad of reasons and I fully believe everyone else will see this eventually too (especially when prices come down).  It’s refreshing to see a company that’s willing to grab that bull by the horns and run with it.  They’re kind of the underdog and I think they get a lot of fans for that reason too.  I think they’re also seen as the first car company to do something truly different and exciting in our lifetime and it gets a lot of people excited to see that.

    in reply to: Tesla #250314 Reply
    Liked by Kamban
    Avatar hightower 
    Participant
    Status: Physician
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    Joined: 12/07/2016
    There’s our zaphod. 🤪. Still not out of the woods by any means. Another profitable qtr would do it good. Just breaking even with 4th qtr profit guidance would be upbeat. 

    Click to expand…

    Elon is planning to sell 100K cars this Qtr. Mostly Model 3. Let us see if that happens.

    They have started to manufacture Model 3 in Gigafactory 3 in China.

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    We might be helping them reach that goal…if our rear facing child seat fits better in a Model 3 then it does in our Honda Fit, haha.  We’ve been thinking of replacing my wife’s car to something roomier for the 3 of us to travel together in.  I’m not sure it’s going to be big enough though. We’re going to go check one out tomorrow actually.  If not, we might wait for the new BMW iX3 that’s supposed to come out next year, depending on price.

    I actually think they are going to do really well with the Model Y when it hits.  I think there’s a big market for electric SUVs that hasn’t been tapped into yet.  The Model X is too darn pricey so I think a cheaper option is going to gain a lot of attention.

    in reply to: Tesla #250311 Reply
    Avatar hightower 
    Participant
    Status: Physician
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    Joined: 12/07/2016
    Where does Tesla recommend to only charge to 80%? I’m just curious, because I’ve never heard this. Lithium ion batteries are not very fussy and IME need no special coddling. 

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    I attached a screen shot from the Tesla app.  You can set the charge level with a slider – 50% to 90% is labeled “daily” and 100% is meant for trips.  I’ve never tried it, but I think if you charge to 100% frequently the car will warn you there is a risk of damaging the battery.

    Most electric cars don’t let you charge to the actual 100% state of charge in order to extend battery life.  For example, the Volt has a 17 kWh battery, but only allows use of 10.5 kWh or so.  I’m not sure about the i3 but it’s probably similar.

    For anyone interested, here’s some good info on the factors that affect Li-ion battery life: https://batteryuniversity.com/index.php/learn/article/how_to_prolong_lithium_based_batteries.

     

    Click to expand…

    Interesting, thanks for sharing.  To me it would make more sense for the engineers to protect the batteries rather than leave it to the car owners.  Meaning, don’t actually let me charge my car to “true 100%”, but rather let the display read 100% while the charge is actually less than that.  And base your real world range off that expectation.

    in reply to: Tesla #249972 Reply
    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    How much does cold effect the battery?  It gets mighty cold here and it would suck to walk out to your car after being in the office for 10 hours and it cannot get you home.

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    My car typically gets 130ish mile range in good 75 degree weather (depending on how I’m driving)

    In sub zero temps that number can drop to around 100-110 mile range

    in reply to: Tesla #249971 Reply
    Avatar hightower 
    Participant
    Status: Physician
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    Joined: 12/07/2016

    @kamban hit it squarely on the head as far as the battery tech.   Tesla has the longest experience in high capacity battery usage and utilization.   They routinely say charge to 80% and make it a point.   At first Tesla wasn’t interested so much in efficiency but that changed dramatically with the Model 3 when they changed both battery AND motor technology and started crushing the tech.   Nothing out there really has the combination of efficiency, range, and performance that Tesla has at this time.

    Bolt has efficiency, but not styling nor performance.    Etron has performance, but efficiency/range suffers dramatically.    Leaf has some range, some efficiency some performance, but Jacks to Tesla Aces — but at 1/2 the price too.

    In truth, anything electric will cost less to maintain than any ICE vehicle.  The issue is the range and anxiety it may cause if you push the range limits.

    Click to expand…

    Where does Tesla recommend to only charge to 80%?  I’m just curious, because I’ve never heard this.  Lithium ion batteries are not very fussy and IME need no special coddling.  FWIW, I drive an i3 (battery only) and I’ve already logged over 40k miles on it, charge it to 100% every night, and have not noticed any decline in it’s efficiency or maximum range.

    Also, the ~130 mile range it has is plenty.  I drive 30 miles to and from work daily and the only time I feel even a little anxious about range is during the coldest winter days when I have errands to run after work.  Usually that just means I plug in at work so I have some extra juice after.

    I think most people way, way over estimate their needs when it comes to range, especially those who have not yet owned an electric car.  I don’t even think about range 99% of the time I get in the car.

    in reply to: Tesla #249896 Reply
    Liked by Hober Mallow
    Avatar hightower 
    Participant
    Status: Physician
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    Joined: 12/07/2016

    To the OP: I feel for you.  I too have experienced flooding in our house multiple times over 7 years.  Twice in the kitchen. Once from a plumber not doing a good job hooking up an outside water line leading to a flood that damaged our flooring and again from an airbnb renter who flooded a second floor bathroom, which then destroyed our kitchen ceiling.

    We had 2 other instances of water damage as well.  We had a second floor water supply line that goes to our washing machine start leaking slowly, which destroyed a wall in a closet.  We also had a plumbing vent line that wasn’t properly installed cause water damage inside a ceiling on our third floor bathroom.

    Before we finished the initial renovation on our 135 year old Victorian house, we had a leaking roof too, so every time it rained we had to use buckets and towels to prevent water damage from getting in.

    Let’s just say, I’m very experienced when it comes to house floods, haha.

     

    Lesson learned?  Houses have problems.  Some more than others.  But here’s the good news…Everything is fixable.  In the end, our insurance paid for the damages and we got everything fixed and it’s all fine now (in fact, we actually profited from the insurance pay out quite nicely).  A pain in the rear at the time, but that’s life.   Stay on top of maintenance where possible.  If you have work done on your house, look up reviews and make sure the work is done right.  Other than that, expect the unexpected and don’t let it stress you out too much.  I’m a much calmer homeowner now that I’ve lived through some of this.

    Avatar hightower 
    Participant
    Status: Physician
    Posts: 1499
    Joined: 12/07/2016

    I find it funny that everyone is so concerned with potential tax increases in years to come, but no one seems worried about the tax cuts we currently have that we can’t afford.  Our current, low taxes, are being financed by debt.  I don’t know about you, but I don’t exactly feel rosy about the path we’re on.  If a new administration is wanting to raise taxes to balance our finances and stop the madness, I’m all for it.  Unfortunately, that doesn’t’ seem to be either side’s priority anymore.  And something has to be done about healthcare.  All of this will likely mean higher taxes in the future.  I just don’t see how we can avoid that.

    SO, like it or not, I have to work, I have to save, and I have to do it for as long as possible while trying to enjoy my life at the same time.  Unfortunately, I don’t have enough invested to call it quits or cut back any further right now, regardless of what I’m paying in taxes.  So, I keep working.  And I’m thankful I have the ability to make what I make.  Most of the people I grew up with make pennies compared to me.

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