What car do you drive? - Dentist Edition

[TanMan]

a couple of years old MB sedan.

id rather dump my money into new practices and business opportunities than something that depreciates by the nanosecond as soon as i drive it off the lot.

True... but after you have way more than enough money, probably should start enjoying it as well. It would be stupid to spend money on a car that you can't consider truly disposable income.

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[DentistScientist]

a couple of years old MB sedan.

id rather dump my money into new practices and business opportunities than something that depreciates by the nanosecond as soon as i drive it off the lot.

Totally second this.. There is a reason why Mark Zuckerburg's dentist father sent Mark to Phillips Exeter and Harvard by spending $50k per year. His father valued educational opportunities over cars. And this decision helped Mark to change the world.

 

[fancymylotus]

True... but after you have way more than enough money, probably should start enjoying it as well. It would be stupid to spend money on a car that you can't consider truly disposable income.

Lol. My vices are travel, bags, shoes, jewels, and fancy real estate. I think I'm good.


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[TanMan]

Lol. My vices are travel, bags, shoes, jewels, and fancy real estate. I think I'm good.


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Haha, glad to hear that you have your own vices too! I'd hate to live my life making money without ever enjoying it or giving it to ungrateful/useless children.

 

[znny19]

2017 Jaguar XE 😛

 

[TanMan]

Totally second this.. There is a reason why Mark Zuckerburg's dentist father sent Mark to Phillips Exeter and Harvard by spending $50k per year. His father valued educational opportunities over cars. And this decision helped Mark to change the world.

That doesn't mean you can't send your child to a 50k/yr school and have nice cars either (you can have both!)... I take a more hedonistic view since I realize this is the only life I'm going to get in this world and I'm getting older. I don't want kids nor do I want to change the world. I just want a ton of money so I don't have to worry about money for the rest of my life. One of the things I tell people who want to make a lot of money is to examine why they want a lot of money. Sometimes, in the pursuit of money, we lose the big picture of what we want in life.

 

[DentistScientist]

That doesn't mean you can't send your child to a 50k/yr school and have nice cars either (you can have both!)... I take a more hedonistic view since I realize this is the only life I'm going to get in this world and I'm getting older. I don't want kids nor do I want to change the world. I just want a ton of money so I don't have to worry about money for the rest of my life. One of the things I tell people who want to make a lot of money is to examine why they want a lot of money. Sometimes, in the pursuit of money, we lose the big picture of what we want in life.

Right. Though different than mine, I respect your life goals. Do what makes you happy.

I want to go into academic dentistry so i guess my budget would be tighter than yours. So i probably have less chance to have both than you.

I want to change the world and i would like to bring scientific discoveries to the field i will belong to. And i would like to inherit my vision to my children. And nurture them in the kind of environment where they train future leaders and innovators of the world. Ex) Exeter


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[DDSER1]

Right. Though different than mine, I respect your life goals. Do what makes you happy.

I want to go into academic dentistry so i guess my budget would be tighter than yours. So i probably have less chance to have both than you.

I want to change the world and i would like to bring scientific discoveries to the field i will belong to. And i would like to disseminate my vision to my children. And nurture them in the kind of environment where they train future leaders and innovators of the world. Ex) Exeter


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'Disseminate' was a weird word choice

 

[fancymylotus]

That doesn't mean you can't send your child to a 50k/yr school and have nice cars either (you can have both!)... I take a more hedonistic view since I realize this is the only life I'm going to get in this world and I'm getting older. I don't want kids nor do I want to change the world. I just want a ton of money so I don't have to worry about money for the rest of my life. One of the things I tell people who want to make a lot of money is to examine why they want a lot of money. Sometimes, in the pursuit of money, we lose the big picture of what we want in life.

Make smart investments, passive income is way better than anything you have to actively run after. But you probably know better about all this stuff than me


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[vellnueve]

'Disseminate' was a weird word choice

Some people like to use big words to create the illusion of intelligence and/or experience.

 

[DentistScientist]

He thinks big words make him sound smarter.

In truth, i did not intend to make myself sound smart. English is my second language and i thought the word "disseminate" was appropriate in this circumstance. So it was due to my sloppy writing skills. But at least i learned it now.


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[Kurk]

There's the beauty 🙂

Get a front-end alignment and stick with it. One of the few cars left that will make it to 500,000 plus miles with original drive train.

 

[TanMan]

Make smart investments, passive income is way better than anything you have to actively run after. But you probably know better about all this stuff than me


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Definitely. Passive income is great if you don't plan to work anymore, but with respect to ramping up wealth, setting up passive income sources too early may not allow you to retire as early as with a more aggressive active investment strategy. That way, I can quickly accumulate wealth, then invest into passive income sources. However, being able to work from home or from anywhere is also a good option.

Remember why you're making and saving up all this money. No point if you're not going to enjoy or fulfill your own purpose in life.

Also, on a darker note, if all else fails, consider stocking up in firearms, ammo, food, emergency supplies, precious metals, etc...

 

[fancymylotus]

Definitely. Passive income is great if you don't plan to work anymore, but with respect to ramping up wealth, setting up passive income sources too early may not allow you to retire as early as with a more aggressive active investment strategy. That way, I can quickly accumulate wealth, then invest into passive income sources. However, being able to work from home or from anywhere is also a good option.

Remember why you're making and saving up all this money. No point if you're not going to enjoy or fulfill your own purpose in life.

Also, on a darker note, if all else fails, consider stocking up in firearms, ammo, food, emergency supplies, precious metals, etc...

We do commercial real estate, and our offices are in property we own, the other tenants help offset mortgage costs 🙂

Was making observations based off what works for us


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[TanMan]

We do commercial real estate, and our offices are in property we own, the other tenants help offset mortgage costs 🙂

Was making observations based off what works for us


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Cool! I know a lot of dentists who do CRE, I am glad I dodged a bullet with STNL's around my area. I was about to leverage a lot of money in STNL's (pharmacies), but recently, they have been closing down stores and there's been a larger vacancy rate with MTNL's in the area. I'm preparing to transition out of my dental office in about 3 years to run one of my companies full time.

It's a good, predictable way of building wealth over time. It's not so good if you want to retire early.

 

[fancymylotus]

Cool! I know a lot of dentists who do CRE, I am glad I dodged a bullet with STNL's around my area. I was about to leverage a lot of money in STNL's (pharmacies), but recently, they have been closing down stores and there's been a larger vacancy rate with MTNL's in the area. I'm preparing to transition out of my dental office in about 3 years to run one of my companies full time.

It's a good, predictable way of building wealth over time. It's not so good if you want to retire early.

0 interest in retiring early. Love what I do. Just want a giant chunk that I didn't have to slave away for in addition to everything else.


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[TanMan]

0 interest in retiring early. Love what I do. Just want a giant chunk that I didn't have to slave away for in addition to everything else.


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Fair enough. I think its great to show the pre-dents and dental students that dentistry is not as depressing as a lot of the posts on DT/SDN make it out to be, and that they have many paths to becoming successful as a dentist (regardless of your long term goals). I can't even stand reading DT posts; I think they emphasize the grim outlook of dentistry just to sell future dentists on buying a lot of the overpriced/expensive services that's being hocked over there.

 

[fancymylotus]

Fair enough. I think its great to show the pre-dents and dental students that dentistry is not as depressing as a lot of the posts on DT/SDN make it out to be, and that they have many paths to becoming successful as a dentist (regardless of your long term goals). I can't even stand reading DT posts; I think they emphasize the grim outlook of dentistry just to sell future dentists on buying a lot of the overpriced/expensive services that's being hocked over there.

Best profession and if you're a smart business person, best business too.


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[TanMan]

Best profession and if you're a smart business person, best business too.


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Yep! I love/like the profession (I'd rank myself as a dental enthusiast), I just hate the toll it takes on the body. I can read about dentistry when I get home, but its just the physical and psychological toll (when you have difficult patients). Makes you go crazy sometimes

 

[fancymylotus]

Yep! I love/like the profession (I'd rank myself as a dental enthusiast), I just hate the toll it takes on the body. I can read about dentistry when I get home, but its just the physical and psychological toll (when you have difficult patients). Makes you go crazy sometimes

Patient management and case selection is key.


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[TanMan]

Patient management and case selection is key.


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That's true, I don't do every case, but I still have to deal with every patient for the examination. Sometimes, they can already be obnoxious during the exam. Thankfully, I don't really opt to do treatment on them and refer them out in most instances. I do have front screening protocols that screen out the majority of annoying patients, but sometimes they still come through due to the convenient hours.

 

[fancymylotus]

That's true, I don't do every case, but I still have to deal with every patient for the examination. Sometimes, they can already be obnoxious during the exam. Thankfully, I don't really opt to do treatment on them and refer them out in most instances. I do have front screening protocols that screen out the majority of annoying patients, but sometimes they still come through due to the convenient hours.

One persons annoying patient is another's goldmine of tx plan but yes in general there are always a subset of problem patients it's best to wash ones hands of


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[TanMan]

One persons annoying patient is another's goldmine of tx plan but yes in general there are always a subset of problem patients it's best to wash ones hands of


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Yep, that's the beauty of having a ton of patients, you aren't starving for any/all treatment. Some practitioners have to be less choosy because they need all the patients they can get.

 

[fancymylotus]

Yep, that's the beauty of having a ton of patients, you aren't starving for any/all treatment. Some practitioners have to be less choosy because they need all the patients they can get.

Those are the not so great business people.

Anyway, to any predents or dental students reading this exchange, the moral is that you make a great career choice if/when you choose teeth, just make smart financial and planning decisions and you will be light years ahead of your colleagues.


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[2TH MVR]

If you work hard and make some good decisions .... dentistry can be very rewarding. I've been fortunate to have some neat cars. The latest was a 2010 R8 V10. These can be purchased used for less money than most people think. Drove it for 3 years. CPO warranty expired. Mag shocks were leaking. Needed new tires and tags. Decided it was time to move on before I lost money on the car.

Traded it for a new A7. Right now I am looking at the new Supra that is coming out.

 

[Localnative]

If you work hard and make some good decisions .... dentistry can be very rewarding. I've been fortunate to have some neat cars. The latest was a 2010 R8 V10. These can be purchased used for less money than most people think. Drove it for 3 years. CPO warranty expired. Mag shocks were leaking. Needed new tires and tags. Decided it was time to move on before I lost money on the car.

Traded it for a new A7. Right now I am looking at the new Supra that is coming out.


View attachment 222444

Does that fit 3 baby seats? my wife would castrate me if I came home with that beauty.

Maybe being a Eunuch is worth it, maybe.

 

[charlestweed]

If you work hard and make some good decisions .... dentistry can be very rewarding. I've been fortunate to have some neat cars. The latest was a 2010 R8 V10. These can be purchased used for less money than most people think. Drove it for 3 years. CPO warranty expired. Mag shocks were leaking. Needed new tires and tags. Decided it was time to move on before I lost money on the car.

Traded it for a new A7. Right now I am looking at the new Supra that is coming out.


View attachment 222444

If you like to drive German cars and change cars every 2-3 years, it’s better to lease a brand new one than to buy a CPO one. And the monthly payments for leasing a new one will be the same (or actually less than) as buying a 2-3 year old CPO one. German cars have a lot of electronic problems, which require you to bring the cars to the shop for repairs very often. The fancier the car is, the more problems it will have. They will give you a loaner to drive but it’s still very inconvenient to drop it off and to pick it up, especially if you have to work 5-6 days/week. All repairs are free when the car is still under the warranty. With the leasing option, you simply walk away at the end of the lease before the warranty expires…and you can lease a new car with a new warranty. Many people, who buy German cars, don't realize the outrageous cost of maintaining their cars after the warranty expires.

The guy on this youtube video explains very well why leasing is better.

 

[schmoob]

Does that fit 3 baby seats? my wife would castrate me if I came home with that beauty.

Maybe being a Eunuch is worth it, maybe.

You already have 3 kids, so it might be worth it.

 

[Kurk]

If you like to drive German cars and change cars every 2-3 years, it’s better to lease a brand new one than to buy a CPO one. And the monthly payments for leasing a new one will be the same (or actually less than) as buying a 2-3 year old CPO one. German cars have a lot of electronic problems, which require you to bring the cars to the shop for repairs very often. The fancier the car is, the more problems it will have. They will give you a loaner to drive but it’s still very inconvenient to drop it off and to pick it up, especially if you have to work 5-6 days/week. All repairs are free when the car is still under the warranty. With the leasing option, you simply walk away at the end of the lease before the warranty expires…and you can lease a new car with a new warranty. Many people, who buy German cars, don't realize the outrageous cost of maintaining their cars after the warranty expires.

The guy on this youtube video explains very well why leasing is better.

Ah planned obsolescence....You can't even open the i8's hood outside the dealership.

 

[Kurk]

Does that fit 3 baby seats? my wife would castrate me if I came home with that beauty.

Maybe being a Eunuch is worth it, maybe.

Try your hand at the new Alpha Romeo Giulia or if you like American Dodge Charger Hellcat

 

[Localnative]

You already have 3 kids, so it might be worth it.

partially true, however what about the sex that's for pure enjoyment? may be nonexistent after years of marriage...
you may be onto something my friend.

 

[Localnative]

Try your hand at the new Alpha Romeo Giulia or if you like American Dodge Charger Hellcat

that Hellcat. WOWSA.

 

[TanMan]

If you like to drive German cars and change cars every 2-3 years, it’s better to lease a brand new one than to buy a CPO one. And the monthly payments for leasing a new one will be the same (or actually less than) as buying a 2-3 year old CPO one. German cars have a lot of electronic problems, which require you to bring the cars to the shop for repairs very often. The fancier the car is, the more problems it will have. They will give you a loaner to drive but it’s still very inconvenient to drop it off and to pick it up, especially if you have to work 5-6 days/week. All repairs are free when the car is still under the warranty. With the leasing option, you simply walk away at the end of the lease before the warranty expires…and you can lease a new car with a new warranty. Many people, who buy German cars, don't realize the outrageous cost of maintaining their cars after the warranty expires.

The guy on this youtube video explains very well why leasing is better.

That comes with the territory of higher end cars. Only spend money that you can afford to burn on a vehicle. Leasing would make more sense if your cash flow is restricted and/or you always want to have the newest car every few years but don't have the garage space for all your cars or don't want to sell your vehicle afterwards. Always best to assume that the residual value of your vehicle = 0 when you drive it off the lot.

Edit: I love the i8, I wanted to get a matching one for my gf. I might wait for the roadster version or all-electric if it comes out.

 

[2TH MVR]

If you like to drive German cars and change cars every 2-3 years, it’s better to lease a brand new one than to buy a CPO one. And the monthly payments for leasing a new one will be the same (or actually less than) as buying a 2-3 year old CPO one. German cars have a lot of electronic problems, which require you to bring the cars to the shop for repairs very often. The fancier the car is, the more problems it will have. They will give you a loaner to drive but it’s still very inconvenient to drop it off and to pick it up, especially if you have to work 5-6 days/week. All repairs are free when the car is still under the warranty. With the leasing option, you simply walk away at the end of the lease before the warranty expires…and you can lease a new car with a new warranty. Many people, who buy German cars, don't realize the outrageous cost of maintaining their cars after the warranty expires.

Totally agree. Leased through the office 996TT,997cab and a 997TT. Since I had 2 practice locations ... I was able to write off a majority of the lease payments. Yes .... leasing makes sense if you plan to change cars every 3 years.

But I thought I was keeping the R8. Had a manual gated 6 speed. Therefore I purchased it. After 3 years .... realized that I do not have the patience for the maintenance on older cars. Especially german cars.

So ... I'm looking at this. The new Toyota Supra.

 

[oralcare123]

That's true, I don't do every case, but I still have to deal with every patient for the examination. Sometimes, they can already be obnoxious during the exam. Thankfully, I don't really opt to do treatment on them and refer them out in most instances. I do have front screening protocols that screen out the majority of annoying patients, but sometimes they still come through due to the convenient hours.

Could you share you screening protocol?

 

[TanMan]

Could you share you screening protocol?

Check the AMA, I think I go on for awhile talking about screening.

Can you post a pic of your gf?

I'll ask her, if she says yes, I'll post it.

 

[small]

2014 Mazda 6, with decked canoe!!

 

[charlestweed]

That comes with the territory of higher end cars. Only spend money that you can afford to burn on a vehicle. Leasing would make more sense if your cash flow is restricted and/or you always want to have the newest car every few years but don't have the garage space for all your cars or don't want to sell your vehicle afterwards. Always best to assume that the residual value of your vehicle = 0 when you drive it off the lot.

Edit: I love the i8, I wanted to get a matching one for my gf. I might wait for the roadster version or all-electric if it comes out.

It’s good that you have more than one car so you won’t get bored at driving the same one every day. I only lease one car at a time for the reasons that you mentioned: no space to park the extra cars (I don’t like to park them on the driveway or on the street and ruin the look of the house), additional expenses in car payments, maintenance, and insurance etc.

Since most car manufacturers change the body styles and add more HP to their engines every 6-7 years, I wouldn’t want to get stuck to driving the same old discontinued model for a long time.

I haven’t tried leasing car through swapalease.com yet but I’ll look into it. With a monthly payment of $1279 (which is much less than leasing a brand new $100K 750i), I can drive away a $150k i8…and only get stuck with it for 14 months. It's according to this link: 2015 BMW i8 lease in New York, NY,

 

[charlestweed]

Totally agree. Leased through the office 996TT,997cab and a 997TT. Since I had 2 practice locations ... I was able to write off a majority of the lease payments. Yes .... leasing makes sense if you plan to change cars every 3 years.

But I thought I was keeping the R8. Had a manual gated 6 speed. Therefore I purchased it. After 3 years .... realized that I do not have the patience for the maintenance on older cars. Especially german cars.

So ... I'm looking at this. The new Toyota Supra.



View attachment 222483

Good choice. Toyota cars are the most reliable cars on earth.

German cars are fun to drive but they have a lot of problems with the electronic components. Every brand new German Car that I leased in the last 15+ years required me to bring them in for repairs multiple times in a year. It’s good that all the repairs were free during the warranty period. That’s why I kept on coming back to lease either another BMW or a Benz, instead of getting a more reliable (but boring) Lexus. If the repairs weren’t free, I wouldn’t have leased them. I can't imagine how much money I'd have to throw away every year if I kept the cars beyond the warranty period. I feel bad for the people who bought the leased cars that I returned.

I am a huge fan of the autonomous driving technology (Mercedes’ distronic plus, BMW’s adaptive cruise control, Lexus’ radar cruise control, Tesla’s autopilot etc) because it makes the daily commute less stressful. Having been spoiled with this feature in the last 6-7 years, I won’t get another car without it. Tesla is currently the leader in this technology but I am sure BMW, Mercedes, and others will try to release similar cars to compete against it. Competition is good because it gives the consumers more choices. I currently lease a Tesla, which is the first non-German car that I’ve leased. It’s a very low maintenance car. After 19k miles of daily driving, I still haven’t brought it in for maintenance or repair….no brake pad wear (because of regenerative braking technology) … no oil to change. I am glad that I leased this car because a few months after I got it, Tesla added the full self-driving hardware, which my car doesn’t have, to all their new cars, including the upcoming model 3. In just one year, the battery capacity has already decreased by about 5%. With the leasing option, I can get a new car with a fresh battery pack every 2-3 years. After driving an electric car with supper smooth, fast, and instant acceleration, it’s hard to go back to a gas car.

Here it is. Nothing fancy...just a standard set of wheels and black paint. In 2 more years, it will no longer be in my possesion.

 

[2TH MVR]

Yeah, hard to beat the practicality and coolness factor of Tesla.

 

[vellnueve]

This

 

[fancymylotus]

Getting rid of my car for a giant SUV. Have two dogs that I need to be able to cart around comfortably. Probably end up with a CPO MB


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