retirement accounts

[finalpsychyear]

I’m not saying you aren’t enjoying life if you save money but at some point you are sacrificing meaningful experiences in your relative youth for lots of money when you are old and feeble and can’t enjoy it- if you even survive to old age.
I mean I save a good amount and I’d like to leave money to my kids (mostly life insurance at this point), but this thread ignores life in exchange for savings. Who cares if you are rich when you are old? You’re just going to sit in a chair and watch FoxNews all day anyway. That doesn’t cost much.

I think how much you should save varies if your married no kids vs kids. IMO if your married no kids you should be aiming to save as a floor about 100k/year including all retirement contributions/match etc. This also assumes you plan to work a fullish career. Most of this gen are wanting to work maybe a 20 year ish career so it does change the equation a bit. I stand by the first 10 years of attending salary saving are career changing in the back half esp when it may generate almost an average physician salary yearly return.

---

Members don't see this ad.

 

[RadOncDoc21]

Damn you guys are rich! I’m struggling with my 10k family vacation!

 

[aneftp]

Damn you guys are rich! I’m struggling with my 10k family vacation!

Air travel to Utah alone for me and family was $3200 this spring. That’s coach and not first. I’m

Ski lift tickets were $1000 each person ($4000)

Hotel was $900/night.

6 nights.

$12500. BEFORE food and entertainment

So a ski trip for a family of 4 is easily 15k for peak spring break season.

I wouldn’t even call it luxury travel either.

That’s one family trip.

Add summer travel 20-30k

That’s 40k a year in vacation.

We do side trips since we live in flordia. Like 3-4 day cruises as well and extended 3 day weekend vacation.

I’m just gonna to work more this weekend and make another 4-6k lol. No overnight for me. Can make more but I like to sleep in my own bed.

 

[GassYous]

Air travel to Utah alone for me and family was $3200 this spring. That’s coach and not first. I’m

Ski lift tickets were $1000 each person ($4000)

Hotel was $900/night.

6 nights.

$12500. BEFORE food and entertainment

So a ski trip for a family of 4 is easily 15k for peak spring break season.

I wouldn’t even call it luxury travel either.

That’s one family trip.

Add summer travel 20-30k

That’s 40k a year in vacation.

We do side trips since we live in flordia. Like 3-4 day cruises as well and extended 3 day weekend vacation.

I’m just gonna to work more this weekend and make another 4-6k lol. No overnight for me. Can make more but I like to sleep in my own bed.

"Hotel was $900/night."
"I wouldn’t even call it luxury travel either."
???

 

[aneftp]

"Hotel was $900/night."
"I wouldn’t even call it luxury travel either."
???

Meaning $900/night for hotel is pretty standard these days. It’s not over the top luxury hotel.

It’s not like a penthouse suite.

It’s just a regular 400-500 sq door room for $900

I’m staying in a $1100/night next weekend that’s 432 sq feet.

Hotels prices are just outrageous these days.

Europe is actually looking cheaper than USA.

 

[ERRES2288]

I think how much you should save varies if your married no kids vs kids. IMO if your married no kids you should be aiming to save as a floor about 100k/year including all retirement contributions/match etc. This also assumes you plan to work a fullish career. Most of this gen are wanting to work maybe a 20 year ish career so it does change the equation a bit. I stand by the first 10 years of attending salary saving are career changing in the back half esp when it may generate almost an average physician salary yearly return.

That will put you at about 8m of assume 6% real after 30 years. About right if going to be spending 250-300k a year.

 

[buccsmf1]

Ski lift tickets were $1000 each person ($4000)

no epic or ikon pass (depending on resort)? that right there would halve your lift ticket cost

but ill agree on the hotel costs in america. it seems like $500 a night is base now and just goes up from there. went to maui recently and good luck getting anything decent for under 1k per night

 

[pgg]

"Hotel was $900/night."
"I wouldn’t even call it luxury travel either."
???

I'm going to assume he got two rooms at $450/night, or a 2-br suite, which isn't absurd for peak season ski resort rates. At least, I hope he did, for his sanity.

Cramming two kids into a room with mom & dad ... god, you'd need a vacation to recover after that "vacation" ...


Now that my kids are out, my vacations cost a lot less. Got no burning desire for the resort/theme-park kind of trips.

Wasn't that long ago that the gymnast would need to travel for meets. In the Bahamas. That girl cost me a fortune.

I used to do the ski trip thing. Then one day I decided two of the things I hate most in life, cold weather and crowds of strangers, formed a swirling vortex of suck around ski resorts. I'll take a national park and a backpack, or some off road vehicles that go where the Prius and weekly-waxed F150 extended cab pickup crowd can't go ... but to each their own.

I went on a vacation by myself last October. Flew to Arizona ($1239 round trip - paid a few $ extra for exit-row seats and direct flights). Stayed at my brother's house ($0). Screwed around in the desert with him and his dune buggy ($0). Drove up through Utah and visited about nine state and national parks ($0) and went camping on BLM land ($0). Every few nights stayed in some roadside dive motel for a shower ($200 total?). Gave my brother some gas money for driving ($200?). Ate some food ($200?). Had the chance to buy a t-shirt but didn't ($0). Probably under $2K for the whole thing.

 

[Dr. Rude]

On a typical anesthesiologist’s income, you can have anything you want. Just not everything that you want.

 

[aneftp]

I'm going to assume he got two rooms at $450/night, or a 2-br suite, which isn't absurd for peak season ski resort rates. At least, I hope he did, for his sanity.

Cramming two kids into a room with mom & dad ... god, you'd need a vacation to recover after that "vacation" ...


Now that my kids are out, my vacations cost a lot less. Got no burning desire for the resort/theme-park kind of trips.

Wasn't that long ago that the gymnast would need to travel for meets. In the Bahamas. That girl cost me a fortune.

I used to do the ski trip thing. Then one day I decided two of the things I hate most in life, cold weather and crowds of strangers, formed a swirling vortex of suck around ski resorts. I'll take a national park and a backpack, or some off road vehicles that go where the Prius and weekly-waxed F150 extended cab pickup crowd can't go ... but to each their own.

I went on a vacation by myself last October. Flew to Arizona ($1239 round trip - paid a few $ extra for exit-row seats and direct flights). Stayed at my brother's house ($0). Screwed around in the desert with him and his dune buggy ($0). Drove up through Utah and visited about nine state and national parks ($0) and went camping on BLM land ($0). Every few nights stayed in some roadside dive motel for a shower ($200 total?). Gave my brother some gas money for driving ($200?). Ate some food ($200?). Had the chance to buy a t-shirt but didn't ($0). Probably under $2K for the whole thing.

I got a 1 bedroom with the kids. I ending up sleeping on the sofa pull out with my son while my wife slept with my daughter. 2 bedroom was another $300/more a night.

But yes. Traveling is so much easier without the kids. When I fly by myself. I stay and stay with friends homes for the weekend. It’s literally free. It costs less than $250-300 for plane tix. Even looking at 5 days guys trip to Germany it will cost less than $4k that’s including airfare and hotel and event tickets. With family that cost would be triple.

 

[doctalaughs]

I got a 1 bedroom with the kids. I ending up sleeping on the sofa pull out with my son while my wife slept with my daughter. 2 bedroom was another $300/more a night.

But yes. Traveling is so much easier without the kids. When I fly by myself. I stay and stay with friends homes for the weekend. It’s literally free. It costs less than $250-300 for plane tix. Even looking at 5 days guys trip to Germany it will cost less than $4k that’s including airfare and hotel and event tickets. With family that cost would be triple.

Been there. It’s insane what a decent hotel costs at peak ski season during spring/winter breaks, especially if you want to be walking to lifts.

I think I’m going to give up on peak ski season as it’s too crowded anyway. I like skiing but paying 15-20k for a family of 4 to wait on lift lines isn’t worth it. Once the kids are out I’ll go off season with some guys and midweek which is cheaper and more enjoyable anyway.

Have thought about buying but a nice place is like 1.5M and I’d use it like 4 weeks a year, maybe. Not big on renting it out as I’d be too paranoid about renters trashing my place.

 

[aneftp]

Been there. It’s insane what a decent hotel costs at peak ski season during spring/winter breaks, especially if you want to be walking to lifts.

I think I’m going to give up on peak ski season as it’s too crowded anyway. I like skiing but paying 15-20k for a family of 4 to wait on lift lines isn’t worth it.

Have thought about buying but a nice place is like 1.5M and I’d use it like 4 weeks a year, maybe. Not big on renting it out as I’d be too paranoid about renters trashing my place.

Yeah. My colleague got their Colorado 2 bedroom ski place was 400k years ago and it’s now 1.2-1.3 million. They rent it out most of ski season. The cost of owning is prohibitive for most these days.

Vacation is just super expensive during peak season when kids are on spring break or winter break.

 

[finalpsychyear]

On a typical anesthesiologist’s income, you can have anything you want. Just not everything that you want.

My pgy 4 sibling is seeing offers for 500k ish employed and her hungrier friends who are hopping on locums are getting closer to 700 fresh out.
What an insane amount of money to be getting year 1 in attendinghood LOL let alone for a single person. For a party of 1 you can get everything within reason with those numbers.

 

[Splenda88]

Meaning $900/night for hotel is pretty standard these days. It’s not over the top luxury hotel.

It’s not like a penthouse suite.

It’s just a regular 400-500 sq door room for $900

I’m staying in a $1100/night next weekend that’s 432 sq feet.

Hotels prices are just outrageous these days.

Europe is actually looking cheaper than USA.

You are a baller. I though I paid too much when I stayed in a $500/night for 4 nights in downtown Manhattan last week.

 

[GassYous]

You are a baller. I though I paid too much when I stayed in a $500/night for 4 nights in downtown Manhattan last week.

I pay like 2-300 a night in places like san francisco, paris, san diego for decent hotels. And there are frequently amex deals on hotels that net me 100-200 back.

 

[agammaglobulin]

Meaning $900/night for hotel is pretty standard these days. It’s not over the top luxury hotel.

It’s not like a penthouse suite.

It’s just a regular 400-500 sq door room for $900

I’m staying in a $1100/night next weekend that’s 432 sq feet.

Hotels prices are just outrageous these days.

Europe is actually looking cheaper than USA.

I hear you. I have a young family and the cost and crowds associated with skiing have just gotten insane recently. Lift tickets over $100/person, yearly passes over $1K/year, paying for parking, having to reserve a parking spot or arrive before a certain time for a space, fighting lift lines...I hate to give up on skiing as a family but at the current cost I'd rather fly somewhere beautiful and sunny for a week of vacation vs fighting the crowds. A family can easily pay $400+ per day just for the skiing. At that price it just isn't worth it to me. Some of my co-workers fly their family to more small scale/remote ski destinations during school breaks and end up saving money on hotel/lift prices.

Share the links of places for $300/night at major destinations. Agree with aneftp- I'm seeing the same thing you're seeing - $400+/night is entry level now. Hawaii is around $1000/night during school breaks.

 

[agammaglobulin]

I’m not saying you aren’t enjoying life if you save money but at some point you are sacrificing meaningful experiences in your relative youth for lots of money when you are old and feeble and can’t enjoy it- if you even survive to old age.
I mean I save a good amount and I’d like to leave money to my kids (mostly life insurance at this point), but this thread ignores life in exchange for savings. Who cares if you are rich when you are old? You’re just going to sit in a chair and watch FoxNews all day anyway. That doesn’t cost much.

There's a balance for sure. You are also able/willing to work much harder when younger. I'm not 40 yet, and I'm already wanting to cut back...Save early and you have a lot more options. If you wait too long you'll be the one in their 60s still working nights and weekends. I hate nights and weekend work now, I can't imagine in another 20 years.

 

[BoogieAndGroove]

Share the links of places for $300/night at major destinations. Agree with aneftp- I'm seeing the same thing you're seeing - $400+/night is entry level now. Hawaii is around $1000/night during school breaks.

Why not pull the kids from school to ski or travel? I’m genuinely interested as I have two under 3 and plan to do so once they’re grade school age.

 

[finalpsychyear]

Why not pull the kids from school to ski or travel? I’m genuinely interested as I have two under 3 and plan to do so once they’re grade school age.

tip if you go to hawaii at least maui is stay in an air bnb. I grabbed a 2 story condo 3 min walk to ocean about 1500 sq feet for 500/night for 10 nights but this was dec 2020 covid. It was peak time during xmas break so glad i got the experience at half cost though i bet it's easily more than that in dec 2023.

 

[aneftp]

Why not pull the kids from school to ski or travel? I’m genuinely interested as I have two under 3 and plan to do so once they’re grade school age.

Once kids reach middle school especially if they taking high school credits. Harder to pull them out of school.

Schools frown on when kids are older.

That’s why everyone perspective is different
From singles with no kids
To parents with young kids
To parents with middle and high school kkds
To empty nesters.

 

[LivetoTell]

2022

• GUEST ROOMS​

• BEST RATE
  • 

  DELUXE ROOM​

  • VIEW
    Avenue Pierre 1er de Serbie, Marble Courtyard or Avenue George V
  • BED OPTIONS
    One king bed / Two twin beds
  • ROOM SIZE
    38 – 50 m2 (414 – 538 sq. ft.)
    View floorplan
  View more details
  from EUR 2,950
  average per night
  SELECT ROOM
• • 

  PREMIER ROOM​

  • VIEW
    Avenue George V, Marble Courtyard or Pierre 1er de Serbie Courtyard
  • BED OPTIONS
    One king bed
  • ROOM SIZE
    50 – 60 m2 (538 – 651 sq. ft.)
    View floorplan
  View more details
  from EUR 4,290
  average per night
  SELECT ROOM
• 
  
• For a Paris hotel room this summer.

 

[GassYous]

View attachment 372498
2022

• GUEST ROOMS​

• BEST RATE
  • 
  • DELUXE ROOM
  • VIEW
    Avenue Pierre 1er de Serbie, Marble Courtyard or Avenue George V
  • BED OPTIONS
    One king bed / Two twin beds
  • ROOM SIZE
    38 – 50 m2 (414 – 538 sq. ft.)
    View floorplan
  View more details
  from EUR 2,950
  average per night
  SELECT ROOM
• • 
  • PREMIER ROOM
  • VIEW
    Avenue George V, Marble Courtyard or Pierre 1er de Serbie Courtyard
  • BED OPTIONS
    One king bed
  • ROOM SIZE
    50 – 60 m2 (538 – 651 sq. ft.)
    View floorplan
  View more details
  from EUR 4,290
  average per night
  SELECT ROOM
• 
  
• For a Paris hotel room this summer.

I've paid less for a year of rent...

 

[abolt18]

I've paid less for a year of rent...

Hahahahah yes me too.

No need to stay IN Paris...

 

[HemeOncHopeful19]

I’m not saying you aren’t enjoying life if you save money but at some point you are sacrificing meaningful experiences in your relative youth for lots of money when you are old and feeble and can’t enjoy it- if you even survive to old age.
I mean I save a good amount and I’d like to leave money to my kids (mostly life insurance at this point), but this thread ignores life in exchange for savings. Who cares if you are rich when you are old? You’re just going to sit in a chair and watch FoxNews all day anyway. That doesn’t cost much.

My in-laws saved up nicely, retired and travel internationally or to Hawaii 2-3 times per year in addition to another 2-3 domestic trips, idk they seem to be enjoying it.

On the other hand if they had not saved I suppose all they could afford to do would be to sit around and watch Fox…

 

[finalpsychyear]

View attachment 372498
2022

• GUEST ROOMS​

• BEST RATE
  • 
  • DELUXE ROOM
  • VIEW
    Avenue Pierre 1er de Serbie, Marble Courtyard or Avenue George V
  • BED OPTIONS
    One king bed / Two twin beds
  • ROOM SIZE
    38 – 50 m2 (414 – 538 sq. ft.)
    View floorplan
  View more details
  from EUR 2,950
  average per night
  SELECT ROOM
• • 
  • PREMIER ROOM
  • VIEW
    Avenue George V, Marble Courtyard or Pierre 1er de Serbie Courtyard
  • BED OPTIONS
    One king bed
  • ROOM SIZE
    50 – 60 m2 (538 – 651 sq. ft.)
    View floorplan
  View more details
  from EUR 4,290
  average per night
  SELECT ROOM
• 
  
• For a Paris hotel room this summer.

lol. i'd stay at the hampton inn. Sure way to go broke paying that. I'd cringe even if i had a 9 figure NW to pay 5k/night

 

[triggermaster]

My in-laws saved up nicely, retired and travel internationally or to Hawaii 2-3 times per year in addition to another 2-3 domestic trips, idk they seem to be enjoying it.

On the other hand if they had not saved I suppose all they could afford to do would be to sit around and watch Fox…

Yeah, I mean it’s not like I don’t hope older people enjoy retirement, but do you think they would have enjoyed one trip to Hawaii in their 30s more than 2 trips in their 70s? Best case scenario you can do both, but I was just pointing out that sacrificing the present for the future that never comes or may not be what you think it will be isn’t the no-brainer that some people pretend it is.
I hope everyone is enjoying life today while also saving adequately.
Also, if you are single and saving aggressively, should you get married in the future, never tell your spouse about all your extra savings and never co-mingle pre-marriage savings with community property.

 

[finalpsychyear]

Yeah, I mean it’s not like I don’t hope older people enjoy retirement, but do you think they would have enjoyed one trip to Hawaii in their 30s more than 2 trips in their 70s? Best case scenario you can do both, but I was just pointing out that sacrificing the present for the future that never comes or may not be what you think it will be isn’t the no-brainer that some people pretend it is.
I hope everyone is enjoying life today while also saving adequately.
Also, if you are single and saving aggressively, should you get married in the future, never tell your spouse about all your extra savings and never co-mingle pre-marriage savings with community property.

I really doubt many who make 400-500 on their own or in a household aren't enjoying their life in the now and if they are not they are not wired to do so. I think it's really overspending that is the biggest issue. I saved maybe 500/mo in residency knowing that just enjoy and go out as you won't get that time back and it really means peanuts in your long term savings.

As an attending, I was really into the WCI and kept the 50% gross income goal for savings. I enjoy experiences so travel is my biggest spending.
The issue for some becomes so you had a really good year and you find you have an extra/bonus 100k even after meeting savings goal for the year what's your next move? Some will find a way to spend that money boat, tesla, rolex/diamonds etc. I'm wired that I'll just bank/invest it and offset a future year down the road where I may fall short of my saving goal like in the next year when kids come into the picture.

Not sure I agree with keeping financials secret with your spouse. If you already say worked 3-5 years before marriage and had your own IRA/brokerage those assets always will be yours even accounting for growth. New money you add to that starting on day 1 married is of course marital assets. If extra concerned turn those all into trusts.

 

[Greenbayslacker]

I may fall short of my saving goal like in the next year when kids come into the picture.

💯

 

[pgg]

if you are single and saving aggressively, should you get married in the future, never tell your spouse about all your extra savings

Doctor forums are full of bad financial and life advice but wow you're really aiming to set a new standard here.

 

[triggermaster]

well if you get a prenup you’ll have to disclose your assets but if you don’t get a prenup there’s no upside to sharing the amount. If it’s small, it’s irrelevant so go ahead.

 

[aneftp]

Yeah, I mean it’s not like I don’t hope older people enjoy retirement, but do you think they would have enjoyed one trip to Hawaii in their 30s more than 2 trips in their 70s? Best case scenario you can do both, but I was just pointing out that sacrificing the present for the future that never comes or may not be what you think it will be isn’t the no-brainer that some people pretend it is.
I hope everyone is enjoying life today while also saving adequately.
Also, if you are single and saving aggressively, should you get married in the future, never tell your spouse about all your extra savings and never co-mingle pre-marriage savings with community property.

well if you get a prenup you’ll have to disclose your assets but if you don’t get a prenup there’s no upside to sharing the amount. If it’s small, it’s irrelevant so go ahead.

Prenups don’t work when kids are involved.

Depending on states. If you have 3 kids. You can be on the hook for $6000-9000 a month till they turn 18. And it doesn’t end there.

They will tack on after school expenses as well. Cheer tutors etc.

So get married. Have a prenup. Don’t have kids. That’s my advice. Lol

Good luck with that.

 

[triggermaster]

well if you get a prenup you’ll have to disclose your assets but if you don’t get a prenup there’s no upside to sharing the amount. If it’s small, it’s irrelevant so go ahead.

Prenups don’t work when kids are involved.

Depending on states. If you have 3 kids. You can be on the hook for $6000-9000 a month till they turn 18. And it doesn’t end there.

They will tack on after school expenses as well. Cheer tutors etc.

So get married. Have a prenup. Don’t have kids. That’s my advice. Lol

Good luck with that.

I have 3 kids and make 4-something and pay $2500 a month. I buy baseball bats and pay for camp, aftercare, and clothes more than she does, but she makes WAY less than I do so it’s not bad at all.
The bad part was having her spending uncontrollably when we were married. If I had a bunch of money saved up she would have just spent even more knowing we weren’t really broke yet.
I know not everyone has that type of spouse, but you might have that and not know yet 🤣. There’s no upside to letting her know there’s money available to spend if you don’t plan on spending it. Just my opinion/experience.

 

[finalpsychyear]

💯

I budgeted 5k/mo extra for kid 1 for expenses and working more hours to compensate to keep savings high. Will see what happens.

 

[agammaglobulin]

I have 3 kids and make 4-something and pay $2500 a month. I buy baseball bats and pay for camp, aftercare, and clothes more than she does, but she makes WAY less than I do so it’s not bad at all.
The bad part was having her spending uncontrollably when we were married. If I had a bunch of money saved up she would have just spent even more knowing we weren’t really broke yet.
I know not everyone has that type of spouse, but you might have that and not know yet 🤣. There’s no upside to letting her know there’s money available to spend if you don’t plan on spending it. Just my opinion/experience.

Yeah, lifestyle creep is real for both people in a marriage after going from resident money to attending money. It's hard not to spend all of what you have (and more). Just look at the US govt.

 

[aneftp]

I have 3 kids and make 4-something and pay $2500 a month. I buy baseball bats and pay for camp, aftercare, and clothes more than she does, but she makes WAY less than I do so it’s not bad at all.
The bad part was having her spending uncontrollably when we were married. If I had a bunch of money saved up she would have just spent even more knowing we weren’t really broke yet.
I know not everyone has that type of spouse, but you might have that and not know yet 🤣. There’s no upside to letting her know there’s money available to spend if you don’t plan on spending it. Just my opinion/experience.

U bet we have spouses like that. You aren’t alone.

My colleague says 95% of men cannot out earn how much a woman wants to spend. And it doesn’t matter if woman is working or not working.

Trust me. My buddy spouse is ortho doc. Two doc family. Wife spends like crazy. And she makes 2x as much as he does as anesthesiologist

 

[finalpsychyear]

U bet we have spouses like that. You aren’t alone.

My colleague says 95% of men cannot out earn how much a woman wants to spend. And it doesn’t matter if woman is working or not working.

Trust me. My buddy spouse is ortho doc. Two doc family. Wife spends like crazy. And she makes 2x as much as he does as anesthesiologist

doctors are notoriously bad at finances. Psychologically stems from not earning real money for decades and it seems justified when one starts earning 6 figs. What often gets missed is the opportunity cost, loans that technically should have you easing into that lifestyle.
If done right any doc could get close to FI in 10 years but it's hardly ever done bc a poor understanding of finances. To be fair everyone in the states is brainwashed into credit and debt so yeah that may be part of it. Glad to be an exception.

 

[pgg]

holy Jesus Christ where did you guys meet your wives that these are the kind of life lessons you learned

 

[Dr. Rude]

holy Jesus Christ where did you guys meet your wives that these are the kind of life lessons you learned

Rich marries hot. Hot expects to live rich. Often.

 

[psychbender]

Rich marries hot. Hot expects to live rich. Often.

So then my advice...

 

[RadOncDoc21]

holy Jesus Christ where did you guys meet your wives that these are the kind of life lessons you learned

Vegas Strip club… I fell in love instantly! Jokes on her though since she actually makes more then me.

 

[DesiredMemberName?]

Vegas Strip club… I fell in love instantly! Jokes on her though since she actually makes more then me.

Maybe for a few prime years… then the joke’s back on you in more ways than one.

 

[RadOncDoc21]

Maybe for a few prime years… then the joke’s back on you in more ways than one.

I was never one to think plans entirely through

 

[HemeOncHopeful19]

Rich marries hot. Hot expects to live rich. Often.

I tried marrying a pretty doctor, still had to shell out for floor seats to Taylor Swift

 

[Splenda88]

I have 3 kids and make 4-something and pay $2500 a month. I buy baseball bats and pay for camp, aftercare, and clothes more than she does, but she makes WAY less than I do so it’s not bad at all.
The bad part was having her spending uncontrollably when we were married. If I had a bunch of money saved up she would have just spent even more knowing we weren’t really broke yet.
I know not everyone has that type of spouse, but you might have that and not know yet 🤣. There’s no upside to letting her know there’s money available to spend if you don’t plan on spending it. Just my opinion/experience.

I don't know whether or not your spouse is a female, but it has been demonstrated that 70%+ of consumer spending is done by women. Most women like to spend.

 

[abolt18]

I don't know whether or not your spouse is a female, but it has been demonstrated that 70%+ of consumer spending is done by women. Most women like to spend.

We have a spending plan for the first few years out of training, but in general my wife buys lots of little stuff (I mean LOTS) and I am the one more likely to spend for big things. Top planned purchases I am saving for is a nice trampoline. ACON Air 16 Sport HD Performance Rectangular Trampoline with Net and Ladder

 

[Dr. Rude]

We have a spending plan for the first few years out of training, but in general my wife buys lots of little stuff (I mean LOTS) and I am the one more likely to spend for big things. Top planned purchases I am saving for is a nice trampoline. ACON Air 16 Sport HD Performance Rectangular Trampoline with Net and Ladder

Your wife is upping the disability and life insurance on you in response.

 

[Splenda88]

We have a spending plan for the first few years out of training, but in general my wife buys lots of little stuff (I mean LOTS) and I am the one more likely to spend for big things. Top planned purchases I am saving for is a nice trampoline. ACON Air 16 Sport HD Performance Rectangular Trampoline with Net and Ladder

That's what I do as well. I am somewhat very conscious when it comes to spending money. I am ok with my spouse spending habit on the little things, but I try to be more involved on big ticket items....

I tend to be too drastic sometimes. For instance, when we were buying a house last year, I wanted to spend 230k max, which would have gotten us a ~1500 sqft newer home. But my spouse convinced me to buy something bigger. We bought something bigger ~2000 sqft (new built) for 280k and now I am glad I bought something a little bit bigger.

Thinking about it now, I might be too drastic when it come to spending. I could have purchased a 400k home given that I made 405k (income from work) and 17-20k net in real estate last year.

For some reason, I am ok to spend big on trips/vacations.

 

[GassYous]

That's what I do as well. I am somewhat very conscious when it comes to spending money. I am ok with my spouse spending habit on the little things, but I try to be more involved on big ticket items....

I tend to be too drastic sometimes. For instance, when we were buying a house last year, I wanted to spend 230k max, which would have gotten us a ~1500 sqft newer home. But my spouse convinced me to buy something bigger. We bought something bigger ~2000 sqft (new built) for 280k and now I am glad I bought something a little bit bigger.

Thinking about it now, I might be too drastic when it come to spending. I could have purchased a 400k home given that I made 405k (income from work) and 17-20k net in real estate last year.

For some reason, I am ok to spend big on trips/vacations.

230k max?
For the down payment?

 

[aneftp]

That's what I do as well. I am somewhat very conscious when it comes to spending money. I am ok with my spouse spending habit on the little things, but I try to be more involved on big ticket items....

I tend to be too drastic sometimes. For instance, when we were buying a house last year, I wanted to spend 230k max, which would have gotten us a ~1500 sqft newer home. But my spouse convinced me to buy something bigger. We bought something bigger ~2000 sqft (new built) for 280k and now I am glad I bought something a little bit bigger.

Thinking about it now, I might be too drastic when it come to spending. I could have purchased a 400k home given that I made 405k (income from work) and 17-20k net in real estate last year.

For some reason, I am ok to spend big on trips/vacations.

Damn. I spent $300k on renovations alone.

I’m in Florida. Nothing cheaper than 1 million in my neighborhood and Florida used to be cheap to live.

230k max?
For the down payment?

considering the poster age. They are 34/35 years old and no kids or young kids and living in very low cost of living area where homes are 300k or less. Good for them. My living expenses when I was young attending was 6k a month food housing cars vacation etc making 400k and up.

Now my living expenses is like 20k a month making 450k a year. The 2 kids cost me 5k-6k a month between feeding them activities 529 plans

 

[abolt18]

That's what I do as well. I am somewhat very conscious when it comes to spending money. I am ok with my spouse spending habit on the little things, but I try to be more involved on big ticket items....

I tend to be too drastic sometimes. For instance, when we were buying a house last year, I wanted to spend 230k max, which would have gotten us a ~1500 sqft newer home. But my spouse convinced me to buy something bigger. We bought something bigger ~2000 sqft (new built) for 280k and now I am glad I bought something a little bit bigger.

Thinking about it now, I might be too drastic when it come to spending. I could have purchased a 400k home given that I made 405k (income from work) and 17-20k net in real estate last year.

For some reason, I am ok to spend big on trips/vacations.

All about priorities! I felt fine spending a lot on a home with a big property because I spend most of my life there and wanted the space. Vacation, however, is fleeting, so I'm much more of a deal traveler/road-tripper like what pgg described at this point in my life.