What big item (>20k) are you saving up for?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
miamivice
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What big item (>20k) are you saving up for?

Post by miamivice » Mon Feb 12, 2018 6:50 pm

A lot of Bogleheads have considerable taxable accounts. If you are saving up to buy a large purchase (in excess of say $20,000), what might that item be?

Around my neighborhood I see a lot of folks have boats and recreational vehicles. I suspect most are paying monthly on them though. At my megacorp a lot of folks like to do international travel and some of their trips are in excess of $20,000.

(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)

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whodidntante
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Re: What big item (>20k) are you saving up for?

Post by whodidntante » Mon Feb 12, 2018 6:57 pm

I don't believe in buckets. I have money and I spend money. I take low interest loans sometimes. I try to avoid that I spend so much that I don't accumulate more money. So far it seems to be working.

RRAAYY3
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Re: What big item (>20k) are you saving up for?

Post by RRAAYY3 » Mon Feb 12, 2018 7:18 pm

A new car

Then Index Funds

Travel mixed in.

I’m pretty simple.

The Wizard
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Re: What big item (>20k) are you saving up for?

Post by The Wizard » Mon Feb 12, 2018 7:24 pm

I need to buy a new Mustang before long.
My present one is a 2008 bought new, but with 100k on the odometer.
So I'm putting funds aside...
Attempted new signature...

retire57
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Re: What big item (>20k) are you saving up for?

Post by retire57 » Mon Feb 12, 2018 7:26 pm

Two cruises to Hawaii and Alaska.

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Conch55
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Re: What big item (>20k) are you saving up for?

Post by Conch55 » Mon Feb 12, 2018 7:27 pm

College educations and weddings for two kids were the biggest expenses we saved for. Both exceeded 20k.

gouverneur
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Re: What big item (>20k) are you saving up for?

Post by gouverneur » Mon Feb 12, 2018 7:28 pm

Patek Philippe for sure ...

Just kidding. I do love mechanical watches but right now not saving much for anything. Do like to travel a fair amount, but don’t blow anywhere close to 20k on any one trip (maybe over two or three years of 7-10 trips a year, mostly weekend jaunts).

Lonestarz
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Re: What big item (>20k) are you saving up for?

Post by Lonestarz » Mon Feb 12, 2018 7:29 pm

whodidntante wrote:
Mon Feb 12, 2018 6:57 pm
I don't believe in buckets. I have money and I spend money. I take low interest loans sometimes. I try to avoid that I spend so much that I don't accumulate more money. So far it seems to be working.
So if you want to get a new car or other large purchase you don’t cut expenses or save rates towards that goal in any conscious way?

athan
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Re: What big item (>20k) are you saving up for?

Post by athan » Mon Feb 12, 2018 7:30 pm

Patio out back.

runner3081
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Re: What big item (>20k) are you saving up for?

Post by runner3081 » Mon Feb 12, 2018 7:35 pm

Paying off the mortgage.

Cars, roofs and all other items fall well short of 20K.

darrvao777
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Re: What big item (>20k) are you saving up for?

Post by darrvao777 » Mon Feb 12, 2018 7:46 pm

- Tax bill (should hopefully be less than 20K this year)

- Luxury SUV (6 digits)

- Mortgage Payoff (90K)

Although I save it in cash, not my taxable account

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whodidntante
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Re: What big item (>20k) are you saving up for?

Post by whodidntante » Mon Feb 12, 2018 7:53 pm

Lonestarz wrote:
Mon Feb 12, 2018 7:29 pm
whodidntante wrote:
Mon Feb 12, 2018 6:57 pm
I don't believe in buckets. I have money and I spend money. I take low interest loans sometimes. I try to avoid that I spend so much that I don't accumulate more money. So far it seems to be working.
So if you want to get a new car or other large purchase you don’t cut expenses or save rates towards that goal in any conscious way?
No, I don't. Why would I need a special car bucket? I have money for a car, or I can take a low interest loan for a car. And I also don't cut expenses in anticipation of buying a car. If I'm somehow wasting money, I cut that anyway. My expenses are not a car issue.

CppCoder
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Re: What big item (>20k) are you saving up for?

Post by CppCoder » Mon Feb 12, 2018 7:55 pm

Early retirement...

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Alexa9
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Re: What big item (>20k) are you saving up for?

Post by Alexa9 » Mon Feb 12, 2018 8:09 pm

Don't give me any ideas!
My goal is to spend as little as possible and get rid of most of the junk I've got! :mrgreen:

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corn18
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Re: What big item (>20k) are you saving up for?

Post by corn18 » Mon Feb 12, 2018 8:16 pm

gouverneur wrote:
Mon Feb 12, 2018 7:28 pm
Patek Philippe for sure ...

Just kidding. I do love mechanical watches but right now not saving much for anything. Do like to travel a fair amount, but don’t blow anywhere close to 20k on any one trip (maybe over two or three years of 7-10 trips a year, mostly weekend jaunts).
Not saving up for it, but I am trying hard not to pull the trigger on this one:

Image

stoptothink
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Re: What big item (>20k) are you saving up for?

Post by stoptothink » Mon Feb 12, 2018 8:25 pm

runner3081 wrote:
Mon Feb 12, 2018 7:35 pm
Paying off the mortgage.
+1. We are on currently track to pay off our mortgage in 5 more years (7yrs total), but that is likely to be sped up soon with our children aging out of daycare and my wife finishing up school. My wife would really like to ultimately build a custom home, I would really like to never have a mortgage again. Once the current house is paid off, we'll start funding a taxable account which will be earmarked towards buying that home she wants... in cash, likely in another 10 years or so.

DrGoogle2017
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Re: What big item (>20k) are you saving up for?

Post by DrGoogle2017 » Mon Feb 12, 2018 9:17 pm

While I’m not saving for this but if I have $20k dropped from sky, I wouldn’t hesitate to buy a very good necklace of white South Sea Pearls from Australia. The good kind, natural made, not like the ones from the Philippines.

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DaftInvestor
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Re: What big item (>20k) are you saving up for?

Post by DaftInvestor » Mon Feb 12, 2018 9:20 pm

Retirement.

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Strayshot
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Re: What big item (>20k) are you saving up for?

Post by Strayshot » Mon Feb 12, 2018 9:31 pm

Renting a carribean island for a week for 30 friends/family :sharebeer

gator15
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Re: What big item (>20k) are you saving up for?

Post by gator15 » Mon Feb 12, 2018 9:42 pm

bathroom remodel

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DaftInvestor
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Re: What big item (>20k) are you saving up for?

Post by DaftInvestor » Mon Feb 12, 2018 9:43 pm

gator15 wrote:
Mon Feb 12, 2018 9:42 pm
bathroom remodel
>$20K will get you a very nice bathroom :beer

arsenalfan
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Re: What big item (>20k) are you saving up for?

Post by arsenalfan » Mon Feb 12, 2018 9:50 pm

Rental properties

JimmyfromSunPrairie
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Re: What big item (>20k) are you saving up for?

Post by JimmyfromSunPrairie » Mon Feb 12, 2018 9:54 pm

-Health insurance premiums

-Property tax bills

Been saving all my working years for these two

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jharkin
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Re: What big item (>20k) are you saving up for?

Post by jharkin » Tue Feb 13, 2018 7:10 am

miamivice wrote:
Mon Feb 12, 2018 6:50 pm
(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)
Rather than just follow the heard, what are YOUR interest's? If you cant think of anything to spend it on , maybe you dont need to spend it..... Not a bad problem to have, and remember that a lot of those folks you see with the RVs and extravagant travel maybe doing so at the expense of tax deferred to maintain the lifestyle.

You might find out that your neighbor is saving up to build an RV-7 - that doesn't really help you if your not a licensed private pilot. Buying the same bass boat as your other neighbor would be a waste if you hate fish.

FWIW I am saving in taxable to put toward a down payment and move expenses on a larger home. That doesn't help you either if you dont have plans to move....
Last edited by jharkin on Tue Feb 13, 2018 7:14 am, edited 1 time in total.

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Toons
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Re: What big item (>20k) are you saving up for?

Post by Toons » Tue Feb 13, 2018 7:13 am

Can't think of anything at the moment related to finances.
Material "Wants" have been satisfied.








:mrgreen:
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

Jack FFR1846
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Re: What big item (>20k) are you saving up for?

Post by Jack FFR1846 » Tue Feb 13, 2018 7:21 am

Tuition for school for learning disabled son.
Tuition for college for other son.

Do I win?
Bogle: Smart Beta is stupid

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StevieG72
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Re: What big item (>20k) are you saving up for?

Post by StevieG72 » Tue Feb 13, 2018 7:21 am

CppCoder wrote:
Mon Feb 12, 2018 7:55 pm
Early retirement...
+1

You beat me to it...
Fools think their own way is right, but the wise listen to others.

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welderwannabe
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Re: What big item (>20k) are you saving up for?

Post by welderwannabe » Tue Feb 13, 2018 7:43 am

We paid off the mortgage earlier this year.
Next big ticket item is a new car for the wife. Need to save up for a few more months.
I am not an investment professional, but I did stay at a Holiday Inn Express last night.

MrNewEngland
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Re: What big item (>20k) are you saving up for?

Post by MrNewEngland » Tue Feb 13, 2018 9:22 am

$20K is a LOT of money. It's more than I'd spend on a watch or even a trip... I'm considering remodeling the bathroom in my condo but I am hoping to come in well under that.

When my lease is up I am considering buying a new GMC Canyon that stickers for about $21K but I will finance most of it. Does that count?

LiterallyIronic
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Re: What big item (>20k) are you saving up for?

Post by LiterallyIronic » Tue Feb 13, 2018 9:57 am

A DeLorean. They are currently going for low $30,000. It's one of my three financial goals in life: 1) Retire at 50; 2) Pay off mortgage at 50; 3) Own DeLorean.

ddurrett896
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Re: What big item (>20k) are you saving up for?

Post by ddurrett896 » Tue Feb 13, 2018 10:00 am

1,000sqft garage addition.

Jack FFR1846
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Re: What big item (>20k) are you saving up for?

Post by Jack FFR1846 » Tue Feb 13, 2018 10:05 am

LiterallyIronic wrote:
Tue Feb 13, 2018 9:57 am
A DeLorean. They are currently going for low $30,000. It's one of my three financial goals in life: 1) Retire at 50; 2) Pay off mortgage at 50; 3) Own DeLorean.
Set aside a bit more for the flux capacitor. You'll be able to then go back and make the best financial decisions ever, so $30k becomes a "who cares?", right?
Bogle: Smart Beta is stupid

thangngo
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Re: What big item (>20k) are you saving up for?

Post by thangngo » Tue Feb 13, 2018 10:06 am

miamivice wrote:
Mon Feb 12, 2018 6:50 pm
A lot of Bogleheads have considerable taxable accounts. If you are saving up to buy a large purchase (in excess of say $20,000), what might that item be?

Around my neighborhood I see a lot of folks have boats and recreational vehicles. I suspect most are paying monthly on them though. At my megacorp a lot of folks like to do international travel and some of their trips are in excess of $20,000.

(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)
McMansion. :mrgreen:

barnaclebob
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Re: What big item (>20k) are you saving up for?

Post by barnaclebob » Tue Feb 13, 2018 10:19 am

Only thing over 20k that I'm saving up for is the replacement fund for my newer car which hopefully wont need replacing for another 5-10 years. The older car is already saved up for and I've got the cash on hand for the earthquake retrofit that my new to me house will need.

macman_65
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Re: What big item (>20k) are you saving up for?

Post by macman_65 » Tue Feb 13, 2018 10:29 am

The Wizard wrote:
Mon Feb 12, 2018 7:24 pm
I need to buy a new Mustang before long.
My present one is a 2008 bought new, but with 100k on the odometer.
So I'm putting funds aside...
Me too ... I'm looking at hopefully 4/5 years out.
My 2014 Mustang has about 66K miles - averaging 15K/year will give me about 120K.

Slightly more immediate:
Daughter's wedding in May and a 2nd daughter that will start college in 3 years.

Tal-
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Re: What big item (>20k) are you saving up for?

Post by Tal- » Tue Feb 13, 2018 10:37 am

Lots of investing goals that are <$20K, but I think you're asking about purchases... So:

New roof (25k) with solar (15k).
Debt is to personal finance as a knife is to cooking.

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mhc
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Re: What big item (>20k) are you saving up for?

Post by mhc » Tue Feb 13, 2018 10:40 am

I just got my annual bonus. I'll set aside $20k for our summer vacation.

UpperNwGuy
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Re: What big item (>20k) are you saving up for?

Post by UpperNwGuy » Tue Feb 13, 2018 10:55 am

My next car.

Edit: This is what I am saving for, not what I am investing for.
Last edited by UpperNwGuy on Thu Feb 15, 2018 9:00 pm, edited 1 time in total.

JimmyD
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Re: What big item (>20k) are you saving up for?

Post by JimmyD » Tue Feb 13, 2018 11:14 am

Nada, thank goodness. Just trying to squeeze $11,000 out of monthly cash flow to do a couple backdoor roths.

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lthenderson
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Re: What big item (>20k) are you saving up for?

Post by lthenderson » Tue Feb 13, 2018 11:17 am

miamivice wrote:
Mon Feb 12, 2018 6:50 pm
(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.)
I would suggest that this line or reasoning is not a healthy way to think about money, i.e. dreaming up ways to spend money sitting in an account. A more healthy way would be to just spend money on your needs. If someday you need something that costs more than $20k, you will most likely already have that money saved up like whodiddn'tante's strategy.

Texanbybirth
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Re: What big item (>20k) are you saving up for?

Post by Texanbybirth » Tue Feb 13, 2018 11:40 am

Pilgrimage to the Holy Land for my wife and I, with possible extension in Jordan. And plane tickets for grandma and grandpa to come stay with the kiddos!

ETA: not gonna happen because we wouldn't leave our little ones for that long, so instead we're saving up assuming it will probably cost >$20k with inflation by the time we're able to actually GO on the trip. :D [It's all a pipe dream right now anyway, but they say even planning a vacation is mentally beneficial.]

CascadiaSoonish
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Re: What big item (>20k) are you saving up for?

Post by CascadiaSoonish » Tue Feb 13, 2018 11:47 am

Ducati, vacation cabin. Though I'm unlikely to pull the trigger any time soon until I feel very comfortable with investment advances otherwise. Also considering buying a commercial real estate property for the business.

(Amused that my first post here is about spending money on luxury goods)

HongKonger
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Re: What big item (>20k) are you saving up for?

Post by HongKonger » Tue Feb 13, 2018 12:28 pm

A fair sized home extension with a sexy glass box/courtyard affair linking it to my house. It cost the amount of money my portfolio just dropped by. Bugger.

FootballFan5548
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Re: What big item (>20k) are you saving up for?

Post by FootballFan5548 » Tue Feb 13, 2018 12:35 pm

athan wrote:
Mon Feb 12, 2018 7:30 pm
Patio out back.
I'm doing the same... I have finished my last round of proposals and will pick between two contractors in the next few days. I'm budgeting about $30k total for new patio, firepit, some new landscaping, new grading, tree removal, etc.

bargainhuntingking
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Re: What big item (>20k) are you saving up for?

Post by bargainhuntingking » Tue Feb 13, 2018 12:38 pm

Early retirement

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Sandtrap
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Re: What big item (>20k) are you saving up for?

Post by Sandtrap » Tue Feb 13, 2018 12:45 pm

Overseas travel, Southeast Asia, China, Etc. (like "midaref")

Roadtrek RV. . . or Travato. . (like "Toons")

House in Kamuela on the Big Island of Hawaii.

Golf Course townhouse in the Troon Development in Upper Scottsdale.


University of "Bogleheads" for degree in "Retirement Lifestyle".

mahalo,
j :D

tacster
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Re: What big item (>20k) are you saving up for?

Post by tacster » Tue Feb 13, 2018 1:24 pm

New Porsche. Retirement, house, and everything else I need/want is already covered.
INSERT PITHY QUOTE HERE

alfaspider
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Re: What big item (>20k) are you saving up for?

Post by alfaspider » Tue Feb 13, 2018 2:16 pm

My taxable account is primarily saving for a downpayment for our next house. The plan is to minimize the amount we need to borrow, especially in light of the new tax rules and likely higher interest rates when we are ready to buy in a few years.

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pennstater2005
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Re: What big item (>20k) are you saving up for?

Post by pennstater2005 » Tue Feb 13, 2018 2:18 pm

Roof, bathroom remodel.
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson

forgeblast
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Re: What big item (>20k) are you saving up for?

Post by forgeblast » Tue Feb 13, 2018 2:24 pm

Just finishing up a kitchen remodel that also included a few new doors/windows and some flooring, so the big thing I am saving for is a large barn. Looking at a 40x50 or larger. Hoping to cut most of the wood myself to save on the cost(have a bandsaw mill).
So if I had someone else build it it would be 20k+ but I am hoping to lower the cost significantly.

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