Most of those assumptions are correct. I live in a relatively high COL area though, and had my first kid in residency. Now have 3 and wife has stayed home since #1. Earnings for my first 10 yrs out were close to average for an EP. With all of that, it was hard to put away more than $60- $80K/yr while living a modest, though not wanting, lifestyle. I’m now well north of average income from a business that is doing well and kicking savings into overdrive while maintaining same standard of living. But, my FIRE number is $10MM, so I’m shooting for 50.
My wife had an xc90 for years. It was great. Could see myself buying another.
Easy to do when one is already FI
Samsies, we’re splurging on Chinese takeout tonight.
Yes, you have to live a little along the way. I agree 100%. Combine living in the now, with planning for the future, for the best of both worlds. We can't go back to the past and we never reach the future. We are always in the now. So don't neglect it.
Not true. Bought a new BMW X5 my last month of residency and drove out of that hospital holding my head up high. Most people will think this is dumb but it was one of the greatest moments of my life. Walked into med school with nearly a dime to my name and never over $1000 in my bank account to walking out of the ER driving a 60K car. I can still feel what it was like walking out and still gets me emotional. Drove up to a sonic a week out of residency and the server said softly, "wish my parents would get me a nice car"...... I said, "I paid for it"
Strange way for that server to say you have a nice car. I feel bad for people who are not making decent wage. Before med school, my household income was 115-120k and I felt like I was living comfortably, and did not have to think about money. Then during med school and residency household income cut in half, and life has been completely different. It's amazing how much of a difference an extra 50k/yr (35-40k after taxes) can make 'lifestyle-wise'.
I get him, listen to him, and agree with the majority of his points. Its really just logical stuff that most people know but just have lack of self control. I mean if you have 100k debt, make 30k/yr, then its obvious you should not drive a 30k car.
Her point was wondering why kids (Yes I looked young) always get nice stuff from rich parents while she is barely making it
Lol..
Should have been "I paid for it with debt"
Everyone has different needs and wants. Just don't have regrets. I see too many living cheaply in the name of "It doesn't really make me happy", get sick and have alot of regrets.
I got upgraded to an virtually brand new XC90 as a rental car not too long ago. Never been a Volvo guy but I was very impressed.
That's just an extension of what I said, though - "it's not what you have, but, what you do". If it's driving 100 mph around, whether that's a rental or your own ride, that's that. If it's paintings that are in a room you never enter, that's that.
V90 is a sweet car. We don’t have those in the wild here, avg elevation change of ~2 inches/mile means not much need. But man would I love to take one of those camping.
We had an '06 T6 model. They were notorious for transmission failures. Apparently they were GM built and didn't perform well with the turbocharged Volvo engine. Bought it used and had it maybe a month before the transmission failed. Dealer fixed it at a discount, but another month later, had engine problems. The ride was terrible on long trips and seats were uncomfortable. When we test drove the first V90CC, and told the salesperson our previous experience, they went "We're sorry about that. That was when Ford owned Volvo and they cheapened everything. We lost a lot of customers during that timeframe"
