What did you guys splurge on after graduating?

[eddie269]

I'll probably work a year and then put a fat down payment on a USED 2008-09 M3 (depending on how they look in person. Pics are sexy) . I'm a car guy so whatever. Buying it used (~$35k-40k) is the way to go for me. I can't stand buying new off the lot and having it depreciate 10% or so when you drive your 1st mile.

After that, I'll look into a beautiful watch (Breitling, Rolex, etc) and a huge TV. Then definitely a modest house.

Loans will be paid off in 10 yrs or less at around ~$1000/month.

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[Rumplestiltazepam]

I'll probably work a year and then put a fat down payment on a USED 2008-09 M3 (depending on how they look in person. Pics are sexy) . I'm a car guy so whatever. Buying it used (~$35k-40k) is the way to go for me. I can't stand buying new off the lot and having it depreciate 10% or so when you drive your 1st mile.

After that, I'll look into a beautiful watch (Breitling, Rolex, etc) and a huge TV. Then definitely a modest house.

Loans will be paid off in 10 yrs or less at around ~$1000/month.

Have you seen that BMW 335i Eddie? Twin turbo and looks pretty awesome..!

http://bmwusa.com/vehicles/3/335icoupe/default

 

[dgroulx]

We put in a swimming pool as our splurge. I'm older, so we already had a house and we got new vehicles last year.

We actually thought of moving up to a nicer home, but we couldn't find anything we liked for under a million.

 

[Pharm47]

I'm going to build a garage for my husband to work on his car. I figure, since he'll be putting me through school, I can reward him with a place to pursue his hobby.

EDIT: I'll pay to have the garage built. I don't build.

 

[howsoonisnow]

As I said in my post, I think after graduation, you are definitely deserving of a splurge. A nice TV, new skis, mountainbike, whatever. Unless you have $50,000.00 in the bank, a brand new Infiniti or BMW is just plain irresponsible. This country is jampacked with thirty thousand dollar millionaires who drive their Hummers home to their rented, unfurnished studio apartments. A six figure salary doesn't make you a millionaire either. I appreciate nice cars, but come on! Debt is debt. And car debt is unfortunate and sad.

Someone said live to work, not work to live.
Working to drive is just as bad.

Sorry to lecture, but I've worked with way too many pharmacists who are completely saddled with debt. Six figures a year and completely saddled with debt!! That's truly sad!

Not to judge, but I'm sure no one in their 30's or older is planning for that brand new sportscar after graduation. It's a maturity thing.

 

[pharmboy30]

As I said in my post, I think after graduation, you are definitely deserving of a splurge. A nice TV, new skis, mountainbike, whatever. Unless you have $50,000.00 in the bank, a brand new Infiniti or BMW is just plain irresponsible. This country is jampacked with thirty thousand dollar millionaires who drive their Hummers home to their rented, unfurnished studio apartments. A six figure salary doesn't make you a millionaire either. I appreciate nice cars, but come on! Debt is debt. And car debt is unfortunate and sad.

Someone said live to work, not work to live.
Working to drive is just as bad.

Sorry to lecture, but I've worked with way too many pharmacists who are completely saddled with debt. Six figures a year and completely saddled with debt!! That's truly sad!

Not to judge, but I'm sure no one in their 30's or older is planning for that brand new sportscar after graduation. It's a maturity thing.

According to you, I'm irresponsible and immature.
Oh well......

I could also get hit by a bus tomorrow. I'll choose to buy what I want within limits of my own budget.
Thanks for your concern.

 

[Tuck]

As I said in my post, I think after graduation, you are definitely deserving of a splurge. A nice TV, new skis, mountainbike, whatever. Unless you have $50,000.00 in the bank, a brand new Infiniti or BMW is just plain irresponsible. This country is jampacked with thirty thousand dollar millionaires who drive their Hummers home to their rented, unfurnished studio apartments. A six figure salary doesn't make you a millionaire either. I appreciate nice cars, but come on! Debt is debt. And car debt is unfortunate and sad.

Someone said live to work, not work to live.
Working to drive is just as bad.

Sorry to lecture, but I've worked with way too many pharmacists who are completely saddled with debt. Six figures a year and completely saddled with debt!! That's truly sad!

Not to judge, but I'm sure no one in their 30's or older is planning for that brand new sportscar after graduation. It's a maturity thing.

Hmm, I am in my 30's and I have yet to graduate and already bought myself a new Lexus. I have had no trouble keeping up with my car payments and other bills and even though I am only working part-time now as an intern I still manage the max contribution to my Roth IRA. At pharmacist wages, I see no reason why someone could not afford to get a nice car and save money. Incidently, the vast majority of people who own nice cars are older than 30 simply because those that are younger usually cannot afford them.

 

[Mentis]

Hmm, I am in my 30's and I have yet to graduate and already bought myself a new Lexus. I have had no trouble keeping up with my car payments and other bills and even though I am only working part-time now as an intern I still manage the max contribution to my Roth IRA. At pharmacist wages, I see no reason why someone could not afford to get a nice car and save money. Incidently, the vast majority of people who own nice cars are older than 30 simply because those that are younger usually cannot afford them.

Agreed. There's nothing wrong about spending some of your money on something you like. I don't see how even 1k a year on a car could lead you to have an unfurnished apartment. Just how expensive do you think an infiniti is howsoonisnow?

 

[Farmercyst]

Got my eyes done for $4K. Just remember, if you can do it, do it tax free. Corrective Surgery for Near-Sightedness can be paid for with a Flex Spending Account (Taken from paycheck pretax). Also at least for now, no sales tax on "elective" surgeries. (Paid on Discover and got 5% back on the first 1500 too.)

Pretty much everything my wife and I want now we say we're going to wait until after school for. I feel a lot of splurging coming in about 4 years.

 

[howsoonisnow]

Agreed. There's nothing wrong about spending some of your money on something you like. I don't see how even 1k a year on a car could lead you to have an unfurnished apartment. Just how expensive do you think an infiniti is howsoonisnow?

Reading comprehension is key. I did not say a pharmacist would have to live in an unfurnished apartment. I said we live in a world full of $30000 millionaires who are doing just that.
And $1000/month for a car is insane! Conspicuous consuption.

BTW, a Lexus is just a Toyota with a pretty L on the back and a few body and interior upgrades. Save thousands and by the Toyota. Oh, I forgot, you can't impress the neighbors with a Toyota. And that's what we're all in this field for right?

 

[howsoonisnow]

And Tuck
you either
A) Have a spouse who is taking care of your living expenses
B) Live with your parents
C) Are taking out loans to cover your living expenses while paying that car payment
D) Not eating on a regular basis
E) All of the above

I work full time, have a reasonable rent, a reasonably small car payment and make intern wages and am extremely good with money. I can't pretend to know your situation entirely, but the numbers don't add up. Unless of course you had 40 thousand to put down on the car. In which case, go you!

 

[Rumplestiltazepam]

Reading comprehension is key. I did not say a pharmacist would have to live in an unfurnished apartment. I said we live in a world full of $30000 millionaires who are doing just that.
And $1000/month for a car is insane! Conspicuous consuption.

BTW, a Lexus is just a Toyota with a pretty L on the back and a few body and interior upgrades. Save thousands and by the Toyota. Oh, I forgot, you can't impress the neighbors with a Toyota. And that's what we're all in this field for right?

I am going to buy a Gulf Stream jet. Now that thing is going to impress the neighbors, the noise might piss them off too though....o well I am in this profession to impress my neighbors, no other reason what so ever.

 

[howsoonisnow]

I am going to buy a Gulf Stream jet. Now that thing is going to impress the neighbors, the noise might piss them off too though....o well I am in this profession to impress my neighbors, no other reason what so ever.

LOL. Good for you!! As long as you admit it.

 

[acetyl]

My splurging will go through some hot girl I hook up with because I have money. I haven't met her yet so I don't know what she'll want; I'm sure it will be along the lines of clothes, shoes, or a car.

 

[ForcedEntry]

My splurging will go through some hot girl I hook up with because I have money. I haven't met her yet so I don't know what she'll want; I'm sure it will be along the lines of clothes, shoes, or a car.

Mooshu Li, MOOOOOOSHUUUUU!

 

[pharmboy30]

And Tuck
you either
A) Have a spouse who is taking care of your living expenses
B) Live with your parents
C) Are taking out loans to cover your living expenses while paying that car payment
D) Not eating on a regular basis
E) All of the above

I work full time, have a reasonable rent, a reasonably small car payment and make intern wages and am extremely good with money. I can't pretend to know your situation entirely, but the numbers don't add up. Unless of course you had 40 thousand to put down on the car. In which case, go you!

How about you stop worrying about other people? No one asked how you live or for your advice.
Stop with your judgemental preaching.

 

[howsoonisnow]

How about you stop worrying about other people? No one asked how you live or for your advice.
Stop with your judgemental preaching.

First, I'd like to apologize for the tone of my posts, as I do tend to get preachy. I just hate to see people make mistakes and get themselves into trouble, and our nation's debt to income ratio is frightening.

I would like to say, however, that this is an opinion post. To ask me to stop posting mine is just a request that I will ignore. If my opinions sway anyone to be more responsible about their finances then I will have made a difference. I do have a bit of expertise in the field of finance, and my advice is sound.

I AM NOT telling people that they don't have a right to splurge after pharmacy school. It's hard work!! But cars are more than splurges. They are commitments. Financial commitments that are (typically) not worth the money spent. (Return on investment is bad, and people get tired of their cars very quickly) They are called vehicles for a reason. They are vehicles for travel. I understand liking things, (I like lots of things) but my posts are only a warning and advice. Take it or don't, but don't get so defensive. I'm not posting to rile people up. It seems I've made a lot of enemies.

 

[dgroulx]

First, I'd like to apologize for the tone of my posts, as I do tend to get preachy.

That's because you listen to Morrissey.

 

[npage148]

Thumbs up to howsoonisnow.

Thats excatly how I feel about the whole getting a bling car post college

btw: I really like the term 30 thousand dollar millonaire

 

[Pharm47]

I'm on howsoonisnow's side as well. But really...people have to make their own financial mistakes before they get it. How many of the poster's who plan on dropping $60k on a car right after graduating have ever had to pay a mortgage? Repay student debt? Recover from credit card debt? If they have, and they still want to buy that car, great. But the advice to wait, drive a moderately priced car, and perhaps focus on that 401(k) and student loans is damn good advice.

 

[Shadowstar]

I think if you aren't paying rent or mortgage (IE you live with your parents or something) then it'd be appropriate to buy a new car. My cousin did exactly that...she's still living with her mom and a year after pharm school she bought a brand new BMW. But if you are paying for your own place and have debts, it might be wise to wait for 3 or 5 years to buy that 60 thousand dollar car. I know that personally I've told my mom a million times that once I graduate the first thing I'm going to buy is a brand new house. Its nice to know you could afford the luxuries of life by hard work and dedication, so I don't blame anyone in this thread for wishful thinking. Thats my opinion, at least.

 

[OSUpharmy]

Clark Howard would be so proud of you all. *sniff* There is a big problem with splurging along with home equity loans creating a net worth of zero. It looks like everyone has their head on straight.

 

[WVUPharm2007]

I'm going to buy an early 90s Thunderbird SC and soup it up. If I put about $13,000 into it, it could burn a Cobra Mustang or M3 easy. Plus it would look cooler and be way more unique. And it would cost me a hell of a lot less.

 

[pharmboy30]

btw: I really like the term 30 thousand dollar millonaire

No one graduating from pharmacy school is going to be a 30 thousand dollar millionaire.

 

[Tuck]

And Tuck
you either
A) Have a spouse who is taking care of your living expenses
B) Live with your parents
C) Are taking out loans to cover your living expenses while paying that car payment
D) Not eating on a regular basis
E) All of the above

I work full time, have a reasonable rent, a reasonably small car payment and make intern wages and am extremely good with money. I can't pretend to know your situation entirely, but the numbers don't add up. Unless of course you had 40 thousand to put down on the car. In which case, go you!

Well, I have a gf who works 1 night a week at the olive garden for a grand total of about $200 a month does that count? I do have a rental home that brings in an extra $1200 a month, but my daughter's school, ballet, hiphop, swimming, and gymnastics classes pretty much eat up the rental income and gf's wages. The actual loans I take out are slightly less than the tuition since I don't take out any loans that are not subsidized. I already noted somewhere in this thread that I get paid $34/hr as an intern at kaiser. I only put $25,000 down on the car so I could take advantage of the 0% finance offer. If your good with money you should have been playing online poker before they banned it, that is where the real money is!

 

[Tuck]

Reading comprehension is key. I did not say a pharmacist would have to live in an unfurnished apartment. I said we live in a world full of $30000 millionaires who are doing just that.
And $1000/month for a car is insane! Conspicuous consuption.

BTW, a Lexus is just a Toyota with a pretty L on the back and a few body and interior upgrades. Save thousands and by the Toyota. Oh, I forgot, you can't impress the neighbors with a Toyota. And that's what we're all in this field for right?

Incidently, my closest neighbor is a real car nut. He has 16 cars including 2 ferraris, a lamborghini, and a rolls, so I really don't think the lexus is going to be all that impressive...Maybe I bought it because I really like the way it drives and the fact that it is very reliable.

 

[howsoonisnow]

Incidently, my closest neighbor is a real car nut. He has 16 cars including 2 ferraris, a lamborghini, and a rolls, so I really don't think the lexus is going to be all that impressive...Maybe I bought it because I really like the way it drives and the fact that it is very reliable.

Fair enough, but if that's your reason for buying, you should've got the Toyota. Same car.

 

[Rumplestiltazepam]

Fair enough, but if that's your reason for buying, you should've got the Toyota. Same car.

When it comes to reliability Lexus and Toyota are the same, agreed. They drive very similarly, they are both made by Toyota what do you expect. The difference is one is a luxury car, looks snappy and has lots of little extras. If he is happy with the car than good for him.

 

[Omega168]

Should get a Dodge.... since we all know its built by Mercedes-Benz...

I personally would splurge on an ACURA, yes its like a HONDA but I dont care cause the TL Type-S is awesome.

 

[psychoandy]

Depends where I live. If I stay on the east coast, either a used E39 M5 or a Cuda. If I move down south, I'm thinking a 3/4 ton diesel crewcab grocery getter.

That is, assuming gas isn't 8 bucks a gallon by the time I graduate.

 

[Sosumi]

I'm spending my signing bonus on a vacation with my honey in May and an Xbox 360 when the price drops. One of my friends has already spent all of her signing bonus ($8,000) "shopping." I'm not sure what she bought or what things she could possibly spend all of it so fast.

 

[Tuck]

I'm spending my signing bonus on a vacation with my honey in May and an Xbox 360 when the price drops. One of my friends has already spent all of her signing bonus ($8,000) "shopping." I'm not sure what she bought or what things she could possibly spend all of it so fast.

Trust me it is easy to spend money! I managed to spend $35k just on furniture for my house in about 4 hours. It is insanely easy to spend money, saving it seems a bit harder

 

[Rumplestiltazepam]

Trust me it is easy to spend money! I managed to spend $35k just on furniture for my house in about 4 hours. It is insanely easy to spend money, saving it seems a bit harder

I was wondering about that. I want to buy a house within a year of Pharmacy school graduation but I was thinking that furnishing once I bought it would probably cost a great deal of money. Does the 35k include appliances, fridge, washer, dryer or is it all couches, tables, carpets and that kind of stuff?

Also how do you like interning at Kaiser, Tuck? There is one very near my home in the summer. Do they treat you well, mostly tech work, or do you hospital kind of things also? What kind of interaction do you have with patients?

 

[ageldred]

If I move in with my mom after pharmacy school she will expect ME to buy HER a car.

I think if you aren't paying rent or mortgage (IE you live with your parents or something) then it'd be appropriate to buy a new car. My cousin did exactly that...she's still living with her mom and a year after pharm school she bought a brand new BMW. But if you are paying for your own place and have debts, it might be wise to wait for 3 or 5 years to buy that 60 thousand dollar car. I know that personally I've told my mom a million times that once I graduate the first thing I'm going to buy is a brand new house. Its nice to know you could afford the luxuries of life by hard work and dedication, so I don't blame anyone in this thread for wishful thinking. Thats my opinion, at least.

 

[Requiem]

When I graduate, I'll graduate completely debt-free. A lease my parents took out on a car for me will expire then as well (Mazda 3), so I'll decide if I wanna buy it or go splurge.

You may label it financially "irresponsible", but I have, and am suffering through school as its brutal. When I graduate I will reward myself.

A plasma tv, car, home theater system (surround sound etc). The one thing I know about myself is I am way too competitive for my own good, so once I feel I need extra money I'll purchase probably 8-10 books on wall street, finances and stocks and start investing the year I begin working.

There are so many ways to gain an edge over others if you put in hard work and determination. Spending 5-10 hours a week reading on finances would be nothing, but will pay off i'm sure.

 

[PrePharm1980]

Trust me it is easy to spend money! I managed to spend $35k just on furniture for my house in about 4 hours. It is insanely easy to spend money, saving it seems a bit harder

Its ok to be ghetto too! Totally free furniture made from free FEDEX boxes.
http://www.fedexfurniture.com/index.html

 

[genesis09]

After graduation, I'm going to be as cheap as possible. I need to pay off my loans and start saving money. The most important saving time is in your 20s. I won't feel confident in my financial situation until I have $100,000 saved. I will never buy a car on time; unless, it is in my financial favor.
After graduation, I'll probably buy a new computer, and will be forced to buy a new television because of HDTV requirements.

I might sound extreme in my financial views, but this is the way I've been raised. One of my parents had a tendency of being laid off because he worked in the corporate world. The only reason we were able to stay afloat was because of that large pile of savings. I'm a solid believer in saving a set amount each month. You don't have to save a lot in your 20s to have a relative large amount in your 50s.

 

[letjin]

I'm going to buy a condo right after graduation... and the furnitures/appliances/plasma TV that goes with it. Maybe a new car too

 

[Tuck]

I was wondering about that. I want to buy a house within a year of Pharmacy school graduation but I was thinking that furnishing once I bought it would probably cost a great deal of money. Does the 35k include appliances, fridge, washer, dryer or is it all couches, tables, carpets and that kind of stuff?

Also how do you like interning at Kaiser, Tuck? There is one very near my home in the summer. Do they treat you well, mostly tech work, or do you hospital kind of things also? What kind of interaction do you have with patients?

Kaiser is pretty good, they pay very well and everything is in house, but pretty much no hospital work.

As far as furnishings that pretty much includes: 2 bedroom sets, dining set, a couple rugs, some home theater chairs, a couch, a couple bookshelves and a desk. However, you can easily do it cheaper as some of the stuff I bought is pretty high end. Buying a house is a key investment! I bought my first house when I was 19 and all I had was a mattress, some $3 goodwill plates, and plastic silverware for the first couple months and slowly bought stuff to fill the house.

 

[Tuck]

After graduation, I'm going to be as cheap as possible. I need to pay off my loans and start saving money. The most important saving time is in your 20s. I won't feel confident in my financial situation until I have $100,000 saved. I will never buy a car on time; unless, it is in my financial favor.
After graduation, I'll probably buy a new computer, and will be forced to buy a new television because of HDTV requirements.

I might sound extreme in my financial views, but this is the way I've been raised. One of my parents had a tendency of being laid off because he worked in the corporate world. The only reason we were able to stay afloat was because of that large pile of savings. I'm a solid believer in saving a set amount each month. You don't have to save a lot in your 20s to have a relative large amount in your 50s.

I fully agree with you on the savings issue. My parents always stressed the importance of compounding with us as kids and helped us start investing in 8th grade. They agreed to match our contribution to our IRA for the first 2 years of high school if we worked. I plan to do the same thing for my kids. I just turned 30 and have contributed every year now for 14 years.

 

[tungywungy]

Its ok to be ghetto too! Totally free furniture made from free FEDEX boxes.
http://www.fedexfurniture.com/index.html

Hopefully none of their friends are obese.

 

[Jbuprepharm]

After graduation I'm gonna take 5K and drop it into my existing car to make it freakin sweet, then use another 5-8K for a ridiculous cruise for my wife and I, and then put everything else towards loans

 

[OSUpharmy]

Alright! Theres finally furniture that the stinking cat won't destroy. Does that upholstry come in UPS?