how much do you guys spend annually on vacations?

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starting to feel slightly guilty for all the vacations (mini weekend vacations) ive been going on lately. Realistically I dont spend a fortune and still save a lot but obviously back when i was a resident it wasnt near the same as an attending. I probably spend 12k a year on trips but im also grossing about 320k a year, maybe slightly more

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We have family and friends all over the US, and with kids adding to travel costs, we're definitely in the 5 digit range when family visits plus other vacations are added up. Especially with flights climbing in the past couple years.
 
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You're spending less than 4% on vacation annually. It's fine. Most people spend a ton more than that.
 
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My spouse does not like being in our normal place all the time, and prefers to be in different places at intervals and at cost. We spend about 15k per year. Sometimes 20.
 
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2 large 1 week trips annually (partner/I, kiddo with family) at least 1 internationally, ideally both. 1-2 smaller trips in the country to see family. Spend about 25k annually. Dual physician income, travel makes up about 20% of our total spend annually (i.e. very frugal except for travel).

Recent 5 year hit list:
US virgin Islands
Cabo
Patagonia
Hawaii
Bora Bora
New Zealand
Japan
South Korea
England/Scotland
Amalfi Coast

Upcoming:
Maldives
 
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starting to feel slightly guilty for all the vacations (mini weekend vacations) ive been going on lately. Realistically I dont spend a fortune and still save a lot but obviously back when i was a resident it wasnt near the same as an attending. I probably spend 12k a year on trips but im also grossing about 320k a year, maybe slightly more

Hmm, last vacation per person:
AirBNB - $150/day (we rented a huge villa in northern Italy, but it was nice to split the cost among a large group)
Food - $60/day
Car rental - $30/day
Miscellaneous - $40/day (we like to hike, so our misc. expenses are low)
Flight - $1200 (coach)
x 7 days = ~$2200
Would have been pricier if we had kids. Since it's just my wife and me, ended up being $4400 for our household.

We do three big vacations - ~$15k/year

Our combined post-tax earnings are around $350k/year, so that's 4% of our budget.
 
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If you earned your money fairly and aren't running up a ton of debt with no plans to pay it off, what does it matter how much anyone else spends on anything? Enjoy spending your money. Money may not always buy happiness, but it certainly can sometimes!

If the happiness is being infringed on by generational guilt and anxiety, that's what CBT is for.
 
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Since graduating from fellowship, we've taken 2 international trips and about 10-12 domestic ones. It's probably going to end up around $60k for these trips, which will be around 8-10% of our gross annual income this year.

Our travel looked much different when I was a resident/fellow with limited vacation and without kids.
 
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Usually 3-4% of gross income/year spent on travel.
 
i think the early attending years no matter how much i save theres the drive well "maybe i put a few extra thousand in those index funds instead of that vacation" but i think if i didnt take a mini vacation a month id probably become a patient. Plus houses are so crazy expensive here, and mortgage rates arent too great, etc. Realistically i know im probably doing ok with vacation spending but of course I get those guilt thoughts, especially when a few years ago i was definitely not able to drop 500 dollars on a weekend trip when i had a resident salary
 
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Blend hobbies with vacation.

i.e. Kids come fishing with me. Kids go hunting with me.

Same for larger extended family events. We all go camp/fish at same place together.

We spend the money we saved on going out to eat more often.

Priceless: your young child spots the turkey before you do, or has a higher deer spotting count than you do on a round trip. Your kids can taste the subtle difference of a bass compared to bluegill. Your kids pester you on when is the next fishing trip and hunting outing.
 
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I don't travel as much as social media would lead me to believe most millenials do. I usually take trips with my brother + SIL. Trips are usually more on the budget end since they're not earning physician income. Still usually works out to $1-2k for myself each trip.
 
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Do a CME along with your vacation. Expenses are now business expenses.

would be great if i could fly somewhere and do CME online at some virtual conference but i doubt that would really fly lol
 
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starting to feel slightly guilty for all the vacations (mini weekend vacations) ive been going on lately. Realistically I dont spend a fortune and still save a lot but obviously back when i was a resident it wasnt near the same as an attending. I probably spend 12k a year on trips but im also grossing about 320k a year, maybe slightly more

Just went to the us open with the wife with 4 star hotel Thur-Mon on labor day wknd and stayed in manhattan like 500/night. 2 tennis matches in the main stadium with good seats plus 2 broadways, plus comedy shows plus lunch and dinner out at mostly nice places plus airfare and 4 nights near times square cost me somewhere 7-9k ish just for 2 people.. crazy.

To be fair I didn't travel much this year other than airfare for 2 to LA for a graduation. Luckily trip to AZ, Seattle and chicago shouldn't be bad for rest of the year since staying with friends/fam for most of those.
 
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I'm on the opposite end of the spectrum than most here it seems. Our vacations mostly involve visiting family 2-3x per year and we drive the 8ish hours in a Prius. May drop a couple hundred dollars on activities when we visit, but our parents (grandparents) pay for a lot of stuff as well. So we spend <$2k/yr on vacation, maybe <$1k if you don't include holiday presents.

However, we also do a lot of stuff in our local area on a regular basis and when the in-laws come to visit 2-3x per year we treat them. We spend a weekend day at local museums, zoos, sporting events, natural places, shows, etc. then dinner 2-4x per month. So we probably spend around $1,000/mo on those outings. Annual income is around $300k pre-tax.
 
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I'm on the opposite end of the spectrum than most here it seems. Our vacations mostly involve visiting family 2-3x per year and we drive the 8ish hours in a Prius. May drop a couple hundred dollars on activities when we visit, but our parents (grandparents) pay for a lot of stuff as well. So we spend <$2k/yr on vacation, maybe <$1k if you don't include holiday presents.

However, we also do a lot of stuff in our local area on a regular basis and when the in-laws come to visit 2-3x per year we treat them. We spend a weekend day at local museums, zoos, sporting events, natural places, shows, etc. then dinner 2-4x per month. So we probably spend around $1,000/mo on those outings. Annual income is around $300k pre-tax.

Yeah tennis is expensive and the us open this year cost more than it ever did. 500-700 per ticket so times that by 4 plus the hotel your already at 4-5k without airfare or food or broadway or shows even being counted.
 
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I’ll bite. This year was quite a bit more than normal since it had a 10 trip to Europe which was a first. Normally I’d say in total 4-5 trips that are 4-6 days and each will end around 2k (travel, lodging, food). So I’d say somewhere around 8-12 and I’d be happy to spend more because I think experiences (at least for me) is one of the places I’m more than happy to spend money.

Curious what people spend dining out/going out?
 
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Honestly I have no idea. We normally take one international trip a year for about 2 weeks then a small handful of 3-5 day trips which always entail a flight somewhere. Then some family/friend trips here and there. Maybe 20ish k a year?

Going out to restaurants, probably spend another 20k a year.

Travel and good food are the things I splurge on. Aside from that I have pretty low maintenance taste.
 
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starting to feel slightly guilty for all the vacations (mini weekend vacations) ive been going on lately. Realistically I dont spend a fortune and still save a lot but obviously back when i was a resident it wasnt near the same as an attending. I probably spend 12k a year on trips but im also grossing about 320k a year, maybe slightly more

Comparatively- I probably earn 2x this and spend 1/2 that on vacations. That said I have young children that don’t appreciate big vacations and aren’t fun to travel with. If I spent $15k on a huge Disney trip, they’d be happiest swimming in the hotel pool.

This will change as the kids get older and travel is easier.

You earn enough to buy anything but not everything. If vacations are your thing, $25k/year is only a problem if you are also a “car” person and a “mansion” person.
 
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I don't recommend hotels for family vacations. Go Vrbo. You can cook your own food saving hundreds. You can't cook in a hotel room. The Vrbo prices are usually much cheaper than hotels. Also on vacations you're usually not there to love the hotel. You're there to see the place. While in Paris I intentionally got the cheapest room I could get that was still safe cause I wasn't there to experience the hotel room, I was there to experience Paris.

Not directly related, I was thinking of doing a botox CME. My wife wants botox, and I figure if I do it myself on her it'd save about $2000 a year. I can use the CME as a vacation expense. There's a CME for botox near Disneyland.
 
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Comparatively- I probably earn 2x this and spend 1/2 that on vacations. That said I have young children that don’t appreciate big vacations and aren’t fun to travel with. If I spent $15k on a huge Disney trip, they’d be happiest swimming in the hotel pool.

This will change as the kids get older and travel is easier.
Agree with this for the most part. Elementary school age kids will appreciate cool local activities as much as big vacations 99% of the time. I've been to around 30 states starting when I was 3 or 4 as well as a few international trips, mostly for random sports events/tournaments. I can honestly say that other than Disney World, the biggest things I remember about those trips where what cities had really cool zoos or beaches.

Imo, dropping a ton of money on expensive vacations when small kids are involved just isn't worth it unless it's an adult only getaway. To be fair, if you're in a VHCoL location, there may not be a big difference either way other than airfare and lodging.
 
My wife and I have no kids. I'm doing Hawaii, Scotland, Acadia National Park, and possibly Germany this year. Also visiting family across the country in a couple of less vacation-y spots. Should add up to around 20-25k, depending on the quality of hotels.
 
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My wife and I have no kids. I'm doing Hawaii, Scotland, Acadia National Park, and possibly Germany this year. Also visiting family across the country in a couple of less vacation-y spots. Should add up to around 20-25k, depending on the quality of hotels.
I remember the DINK days fondly. Enjoy it! I wish we were even more aggressive with trips back then.
 
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Just went to the us open with the wife with 4 star hotel Thur-Mon on labor day wknd and stayed in manhattan like 500/night. 2 tennis matches in the main stadium with good seats plus 2 broadways, plus comedy shows plus lunch and dinner out at mostly nice places plus airfare and 4 nights near times square cost me somewhere 7-9k ish just for 2 people.. crazy.

To be fair I didn't travel much this year other than airfare for 2 to LA for a graduation. Luckily trip to AZ, Seattle and chicago shouldn't be bad for rest of the year since staying with friends/fam for most of those.
I'm not sure that's crazy at all. That's the type of itinerary qualifying for 9/10 in ballin' points. If each of those meals is a 1-3 michelin star restaurant and the tickets are court side, it's basically what 9 figure rich people do on a weekend vacation (well minus the private jet in if they don't happen to be in NYC already). As long as that's not the regular occurrence, certainly something you can do 1-2x a year and feel completely fine about if you are otherwise reasonable with money and an attending without significant debt.
 
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I’ll bite. This year was quite a bit more than normal since it had a 10 trip to Europe which was a first. Normally I’d say in total 4-5 trips that are 4-6 days and each will end around 2k (travel, lodging, food). So I’d say somewhere around 8-12 and I’d be happy to spend more because I think experiences (at least for me) is one of the places I’m more than happy to spend money.

Curious what people spend dining out/going out?

this is my weakness. I do blue apron for dinner and eat out 2-3x times for dinner a week. And i door dash every day for lunch since i only have 30 minutes, which ends up being around 20 dollars on lunch each day. So my biggest waste realistically is probably money spent on food. I have a weird food aversion to leftovers and hate packing my lunch.

I dont have kids and have a small family (just my parents) so im not spending money on anyone else really besides my spouse.
 
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Comparatively- I probably earn 2x this and spend 1/2 that on vacations. That said I have young children that don’t appreciate big vacations and aren’t fun to travel with. If I spent $15k on a huge Disney trip, they’d be happiest swimming in the hotel pool.

This will change as the kids get older and travel is easier.

You earn enough to buy anything but not everything. If vacations are your thing, $25k/year is only a problem if you are also a “car” person and a “mansion” person.
Don't be so sure, we did Disney for the first time when my kids were 4 (first real vacation we did with them). They had an absolute blast. One of them had little happy spasms every time she saw any of the characters she knew.
 
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I remember the DINK days fondly. Enjoy it! I wish we were even more aggressive with trips back then.
We've got the single income, but it's honestly plenty. Still living like a resident, but saving lots of money and going on vacations while doing it
 
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Don't be so sure, we did Disney for the first time when my kids were 4 (first real vacation we did with them). They had an absolute blast. One of them had little happy spasms every time she saw any of the characters she knew.

I gave them a taste just to see because I was convinced it would be a waste of $. Wife’s family is in Florida. On a trip to see them, we tried 1 day at Disney to gauge interest. They wanted to leave and go back to the beach.

I really enjoy theme parks like Universal, so it bums me out. I attend a CME event in Orlando every few years for an escape to Universal alone.
 
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I don't recommend hotels for family vacations. Go Vrbo. You can cook your own food saving hundreds. You can't cook in a hotel room. The Vrbo prices are usually much cheaper than hotels. Also on vacations you're usually not there to love the hotel. You're there to see the place. While in Paris I intentionally got the cheapest room I could get that was still safe cause I wasn't there to experience the hotel room, I was there to experience Paris.

Not directly related, I was thinking of doing a botox CME. My wife wants botox, and I figure if I do it myself on her it'd save about $2000 a year. I can use the CME as a vacation expense. There's a CME for botox near Disneyland.
Botox has some evidence for depression and anxiety! Might be safer to try than some oral medications if it's just as beneficial.
 
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I remember the DINK days fondly. Enjoy it! I wish we were even more aggressive with trips back then.
This is the dilemma. Being a DINK during med school, residency, fellowship puts you at the prime age to have kids once you finish that training. Wait any longer and you might have fertility issues. When we had more time, we didn't have the income. When we had the income, we no longer have the time with taking care of kids.
 
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Pre-COVID I did mostly long-wkend trips for sports, concerts, fine dining, and visiting w friends and family. I could usually tie in a conference, speaking engagement, or similar to get some of the trip covered as biz expenses. I prefer higher-end hotels and adventures. I’ll still use points, connections, comps, et al. and spend 8k-$10k/yr out of pocket on domestic trips & island/beach long weekends.

Now I structure my weeks to allow more remote work in my schedule. The past year or so I’ve done some “work from beach” where I’m doing record review for 3-5hr a few days of the week, and the other days on excursions and exploring. I’m trying to do some consulting work to turn more of these into biz trips.

Edited to add my overall out of pocket, as points and whatnot save me quite a bit. Some trips are solo, others include a sig other, it just depends.
 
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This forums spending seems a lot more conservative with vacation spending than the white coat investor forum, although incomes are probably higher there.

Because of COVID limiting things, we've (family of 4) spent about $10k total over the 3 years since 2020 (2 domestic beach trips).

Next year will be a two week trip to Europe for all 4 of us, which has a max budget of $20k and will be all we do that year as far as proper vacations go. It's a little on the high side, but we're kind of making up for the past few years.
 
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Not much at all. The last big trip I went was to Japan for a couple of weeks but usually my break periods are quiet –staying at home is fine for me, and if I’m visiting family interstate or overseas we will usually stay with them and save a lot on accommodation.

Next year I’m planning to visit the US for the first time for the APA conference, and I’m expecting this trip to be very expensive. Then again, I’ve had to pay quite a bit for some health procedures and general home maintenance in the last couple of years so have been less concerned regarding spending in general.
 
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This forums spending seems a lot more conservative with vacation spending than the white coat investor forum, although incomes are probably higher there.

Because of COVID limiting things, we've (family of 4) spent about $10k total over the 3 years since 2020 (2 domestic beach trips).

Next year will be a two week trip to Europe for all 4 of us, which has a max budget of $20k and will be all we do that year as far as proper vacations go. It's a little on the high side, but we're kind of making up for the past few years.

They seem to favor living in low COL areas with a cheap car, which is like 90% of your lived experience, while splurging on travel. I'd rather live in an expensive nice area and travel less frequently on a budget, but different strokes I guess. If you live in say rural Ohio, and then go on a 5 star resort vacation in Maui or Santorini, doesn't it just make coming home that much worse?
 
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No, because when you live in rural areas you have less people. Less traffic. Things are cheaper. No homeless people in your town. You might even be able to hunt deer out your backyard. You might even have a tractor - and compared to a BMW 7 series - or Bentley - I'd take the tractor every time for a joy ride. Nor is there light pollution, so you can actually see the stars. Your local farmers market, is truly a farmers market and not filled with Etsy people. Local police actually do their job, because they know their fellow denizens support them. The list goes on.
 
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No, because when you live in rural areas you have less people. Less traffic. Things are cheaper. No homeless people in your town. You might even be able to hunt deer out your backyard. You might even have a tractor - and compared to a BMW 7 series - or Bentley - I'd take the tractor every time for a joy ride. Nor is there light pollution, so you can actually see the stars. Your local farmers market, is truly a farmers market and not filled with Etsy people. Local police actually do their job, because they know their fellow denizens support them. The list goes on.
People who truly prefer rural areas have a major financial advantage. Double that if you like snow. I've accepted my fate of dealing w/ homeless people, traffic, and paying 1 million dollars for 1000 sq feet. Me and the other 9.8 million people in LA county must need our heads checked.
 
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People who truly prefer rural areas have a major financial advantage. Double that if you like snow. I've accepted my fate of dealing w/ homeless people, traffic, and paying 1 million dollars for 1000 sq feet. Me and the other 9.8 million people in LA county must need our heads checked.

Come to Irvine :) no homeless. Spot clean. Everything you need.
 
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No, because when you live in rural areas you have less people. Less traffic. Things are cheaper. No homeless people in your town. You might even be able to hunt deer out your backyard. You might even have a tractor - and compared to a BMW 7 series - or Bentley - I'd take the tractor every time for a joy ride. Nor is there light pollution, so you can actually see the stars. Your local farmers market, is truly a farmers market and not filled with Etsy people. Local police actually do their job, because they know their fellow denizens support them. The list goes on.
I think the thing that would get to me would be lack of good, varied, and relatively convenient restaurant options in rural areas.
 
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Come to Irvine :) no homeless. Spot clean. Everything you need.

Love Irvine and South OC. I'm down in Newport all the time visiting friends and family. Maybe I'll see you at Javier's or Mastro's. I'll be the guy with the worst car in the valet.
 
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People who truly prefer rural areas have a major financial advantage. Double that if you like snow. I've accepted my fate of dealing w/ homeless people, traffic, and paying 1 million dollars for 1000 sq feet. Me and the other 9.8 million people in LA county must need our heads checked.
There are plenty of places that are LCOL, minimal traffic, minimal homeless issues/low crime, where you can have a really nice house and car and still grow a nice nest egg with an average psychiatrist salary and take nice vacations. No need to go rural. They're called suburbs, and they are abundant in the midwest. I lived in one in residency. I live in a large one now. Where I currently live I actually find the food variety better than Chicago where I spent the first 20+ years of my life (other than pizza). You do have to deal with non-Cali weather, but if you like seasons you don't have to go to the countryside to find a great lifestyle. I'm in a city of >500k and with metro >2mil, we bought a fairly new 4,000+ sqft house about a year ago for well under $600k. This isn't particularly unique either, there's plenty of other cities like this.

If you're in love with the coastal weather/beaches then I completely get it. Imo there's something special about being able to stick your feet in the ocean 5 minutes from your house. If not, then I really don't. There are plenty of metros with well over 1 mil people with LCOL where you can get the housing amenities of California at a fraction of the price with plenty of things to do.
 
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There are plenty of places that are LCOL, minimal traffic, minimal homeless issues/low crime, where you can have a really nice house and car and still grow a nice nest egg with an average psychiatrist salary and take nice vacations. No need to go rural. They're called suburbs, and they are abundant in the midwest. I lived in one in residency. I live in a large one now. Where I currently live I actually find the food variety better than Chicago where I spent the first 20+ years of my life (other than pizza). You do have to deal with non-Cali weather, but if you like seasons you don't have to go to the countryside to find a great lifestyle. I'm in a city of >500k and with metro >2mil, we bought a fairly new 4,000+ sqft house about a year ago for well under $600k. This isn't particularly unique either, there's plenty of other cities like this.

If you're in love with the coastal weather/beaches then I completely get it. Imo there's something special about being able to stick your feet in the ocean 5 minutes from your house. If not, then I really don't. There are plenty of metros with well over 1 mil people with LCOL where you can get the housing amenities of California at a fraction of the price with plenty of things to do.
I lived in in a nice midwestern suburb during residency so I get it. Agree with you that food variety is not the biggest issue. There’s usually at least 1-2 good options for Mexican, Thai, sushi, etc. Besides weather, I just feel that if you grew up in one of the large coastal cities, the midwestern towns feel so parochial and small. Sort of like moving to Costa Rica because it’s cheap and they just opened a Cheesecake Factory and Costco.
 
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I lived in in a nice midwestern suburb during residency so I get it. Agree with you that food variety is not the biggest issue. There’s usually at least 1-2 good options for Mexican, Thai, sushi, etc. Besides weather, I just feel that if you grew up in one of the large coastal cities, the midwestern towns feel so parochial and small. Sort of like moving to Costa Rica because it’s cheap and they just opened a Cheesecake Factory and Costco.
I guess, but compared to NYC or LA, everything is small. Even San Diego is "small" (1/3 the size of LA) and it's the 8 largest city by population in the US. I've been to the really big cities, and honestly other than some stuff with the arts (shows) and general culture which varies regardless of size, I don't really see more variety in actual things to do in the big cities than in the "smaller" large cities (500k-1mil pop). I don't really see how the Costa Rica comparison you made fits. :shrug:

ETA: I realize plenty of LCOL cities aren't like this, but there are plenty that are.
 
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For the record, I was specifically responding to Sushi's true rural vision when I made that comment, not midwest suburbs which obv will have plenty of options. They're not the same thing. A little unincorporated area with 1000 households within an hour's drive is not going to have options for much of anything.
 
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I guess, but compared to NYC or LA, everything is small. Even San Diego is "small" (1/3 the size of LA) and it's the 8 largest city by population in the US. I've been to the really big cities, and honestly other than some stuff with the arts (shows) and general culture which varies regardless of size, I don't really see more variety in actual things to do in the big cities than in the "smaller" large cities (500k-1mil pop). I don't really see how the Costa Rica comparison you made fits. :shrug:

ETA: I realize plenty of LCOL cities aren't like this, but there are plenty that are.
I think it depends on your interests. If you want Beyonce/Taylor Swift to be coming to your city, it's not going to be likely in a 500k pop city. When you travel to a city and google "things to do in xyz" there is a marked difference between places depending on size. Festivals, pop ups, night life, restaurants, theater/orchestra/ballet, etc do almost precisely vary by the population of the city/metro.

While I personal think there are a ton of great cities that are not coastal in this country, there is certainly a buzz to being in the big heavy hitting metros in the US. Docs make enough money to choose a thing or two (e.g. have a ferrari, nice boat, vacation house, live in a HCoL area, retire early) but not enough money to do everything. People need to pick and choose what matters to them. Or partner with another high income earner if you really want it all :lol:.
 
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I think it depends on your interests. If you want Beyonce/Taylor Swift to be coming to your city, it's not going to be likely in a 500k pop city. When you travel to a city and google "things to do in xyz" there is a marked difference between places depending on size. Festivals, pop ups, night life, restaurants, theater/orchestra/ballet, etc do almost precisely vary by the population of the city/metro.

While I personal think there are a ton of great cities that are not coastal in this country, there is certainly a buzz to being in the big heavy hitting metros in the US. Docs make enough money to choose a thing or two (e.g. have a ferrari, nice boat, vacation house, live in a HCoL area, retire early) but not enough money to do everything. People need to pick and choose what matters to them. Or partner with another high income earner if you really want it all :lol:.

This is the key point. Living in Manhattan or LA is a luxury good. If you want to spend your money on that particular luxury good, great, but just have to accept you are more limited financially than you would be otherwise.
 
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