I think i can spend 30k on this vacation, but wife not sure

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
travellight
Posts: 2839
Joined: Tue Aug 12, 2008 5:52 pm
Location: San Diego

Re: I think i can spend 30k on this vacation, but wife not sure

Post by travellight » Sun Jul 14, 2019 6:47 pm

I don’t think I have ever spent more than $5000 on a trip and I have a higher income. It may be a psychological barrier. I also would only want to fly there business class though.
364

User avatar
corn18
Posts: 1469
Joined: Fri May 22, 2015 6:24 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by corn18 » Sun Jul 14, 2019 7:44 pm

Why are you spending so little? Ours is $60k and we didn't get the private jet.
Don't do something, just stand there!

visualguy
Posts: 1466
Joined: Thu Jan 30, 2014 1:32 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by visualguy » Sun Jul 14, 2019 7:51 pm

travellight wrote:
Sun Jul 14, 2019 6:47 pm
I don’t think I have ever spent more than $5000 on a trip and I have a higher income. It may be a psychological barrier. I also would only want to fly there business class though.
It's typically at least $7K per ticket for business class to go there, so at least $14K for a couple just for the flights.

User avatar
Time2Quit
Posts: 244
Joined: Thu Nov 01, 2018 9:47 am
Location: Fridgid State

Re: I think i can spend 30k on this vacation, but wife not sure

Post by Time2Quit » Sun Jul 14, 2019 7:54 pm

This is insane! I have travelled to every corner of the earthand never spent $30K on a single vacation. This is traveling with 4.
"It is not the man who has too little, but the man who craves more, that is poor." --Seneca

User avatar
climber2020
Posts: 1202
Joined: Sun Mar 25, 2012 8:06 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by climber2020 » Mon Jul 15, 2019 6:04 am

neargoyard wrote:
Sat Jul 13, 2019 10:24 am
I want to go on a safari vacation, business class and

Savings: 100k per year on 350k combined income
Assets:
1.5 M 401k target retirement 2035
3.5M taxable – 60/40 in vtsax and intermed term bonds tax exempt
No debt

Would like to retire in 6 years or so.
Some of my savings will be eaten up by college for kids.

The trip would drop my savings this year alone by 30k for a one time expense.
Let's look at the math. For the calculations, I've assumed you spend 200k per year.

Here's what the numbers look like if you don't go on the trip: No safari

Here's what the numbers look like if you do go on the trip: Yes safari

Change whatever variables you want: it still makes a negligible difference. The amount you're talking about relative to your net worth is a rounding error.

Grt2bOutdoors
Posts: 20982
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: I think i can spend 30k on this vacation, but wife not sure

Post by Grt2bOutdoors » Mon Jul 15, 2019 6:22 am

Have a nice trip!
You have $5 million, why is this even a question?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

Grt2bOutdoors
Posts: 20982
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: I think i can spend 30k on this vacation, but wife not sure

Post by Grt2bOutdoors » Mon Jul 15, 2019 6:24 am

Time2Quit wrote:
Sun Jul 14, 2019 7:54 pm
This is insane! I have travelled to every corner of the earthand never spent $30K on a single vacation. This is traveling with 4.
Have you traveled to the jungle? By yourself or with an armed guide?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

Grt2bOutdoors
Posts: 20982
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: I think i can spend 30k on this vacation, but wife not sure

Post by Grt2bOutdoors » Mon Jul 15, 2019 6:32 am

neargoyard wrote:
Sun Jul 14, 2019 3:30 pm
we decided we couldn't afford it - 30k is many months of savings, and we're only at 5m due to bull market, it could go down again. Wife wants to go, but we have college looming ahead for 2 children and that will cut our savings down a lot also. Maybe we will figure it out in the future if we can save more and invest, but expenses will go up for kids, etc. We will miss the trip im sure, but ignorance is bliss. Maybe florida or NYC for a weekend can be cheaper and also fun. Safari sounds amazing though. We're not willing to go in coach, so that's our problem.
I grew up in NYC and I’ve been to Florida. There is absolutely zero comparison between a weekend there and a week or two weeks at a safari on African continent. You have $5 million dollars - go on that safari. Here is another way to view it. You save $100k each year, safari costs $30k, net savings is $70k. Market rises 1%, your return is $50k, net add to portfolio is $120k AFTER the safari!!

Go!!!
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

FoolMeOnce
Posts: 629
Joined: Mon Apr 24, 2017 11:16 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by FoolMeOnce » Mon Jul 15, 2019 7:00 am

neargoyard wrote:
Sun Jul 14, 2019 3:30 pm
we decided we couldn't afford it - 30k is many months of savings, and we're only at 5m due to bull market, it could go down again. Wife wants to go, but we have college looming ahead for 2 children and that will cut our savings down a lot also. Maybe we will figure it out in the future if we can save more and invest, but expenses will go up for kids, etc. We will miss the trip im sure, but ignorance is bliss. Maybe florida or NYC for a weekend can be cheaper and also fun. Safari sounds amazing though. We're not willing to go in coach, so that's our problem.
This is a terribly sad post. With this approach, you are going to be incredibly regretful and depressed on your deathbed.

You'll have a top of the line deathbed, at least.

researcher
Posts: 999
Joined: Thu Mar 12, 2015 7:05 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by researcher » Mon Jul 15, 2019 7:55 am

FoolMeOnce wrote:
Mon Jul 15, 2019 7:00 am
neargoyard wrote:
Sun Jul 14, 2019 3:30 pm
we decided we couldn't afford it - 30k is many months of savings, and we're only at 5m due to bull market, it could go down again. Wife wants to go, but we have college looming ahead for 2 children and that will cut our savings down a lot also. Maybe we will figure it out in the future if we can save more and invest, but expenses will go up for kids, etc. We will miss the trip im sure, but ignorance is bliss. Maybe florida or NYC for a weekend can be cheaper and also fun. Safari sounds amazing though. We're not willing to go in coach, so that's our problem.
This is a terribly sad post. With this approach, you are going to be incredibly regretful and depressed on your deathbed.

You'll have a top of the line deathbed, at least.
+1000!

The guy has $5M saved, plus adding another $100K every year, and zero debt...
Yet he's going to take a weekend trip to Florida because he "can't afford" a once in a lifetime $30K African safari?

Very, very sad.
Either the OP didn't want to go on the safari to begin with or this is a troll post as someone else pointed out.

User avatar
FlyAF
Posts: 407
Joined: Tue Jan 23, 2018 11:14 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by FlyAF » Mon Jul 15, 2019 7:57 am

You can't afford more than a 3 day weekend in Tulsa. Even that might be a stretch TBH.

bloom2708
Posts: 6565
Joined: Wed Apr 02, 2014 2:08 pm
Location: Fargo, ND

Re: I think i can spend 30k on this vacation, but wife not sure

Post by bloom2708 » Mon Jul 15, 2019 8:01 am

Enjoy the vacation. I wouldn't pick a safari, but if that is your dream vacation.

Don't be one of those people who shoot a giraffe or elephant, post it on social media and then end up on the front page of your city newspaper. Gone viral.

I've been seeing a lot of those stories. The people just take a lot of flak. Justified or not.
"We are not here to agree with you; we are here to provoke thoughtfulness." Unknown Boglehead

User avatar
Time2Quit
Posts: 244
Joined: Thu Nov 01, 2018 9:47 am
Location: Fridgid State

Re: I think i can spend 30k on this vacation, but wife not sure

Post by Time2Quit » Mon Jul 15, 2019 8:22 am

Grt2bOutdoors wrote:
Mon Jul 15, 2019 6:24 am
Time2Quit wrote:
Sun Jul 14, 2019 7:54 pm
This is insane! I have travelled to every corner of the earthand never spent $30K on a single vacation. This is traveling with 4.
Have you traveled to the jungle? By yourself or with an armed guide?
Yes I have travelled to the jungle several times, and yes I have travelled with armed guards for work as made our way across the globe with expensive equipment. Hiring local guards is always cheaper then hiring an ex-pat outfit. Granted locals are not as professional as an ex-pat outfit, costs are fraction.

Maybe some like to travel in luxury like the 4 seasons jet adventure for $140k +/- :shock:
"It is not the man who has too little, but the man who craves more, that is poor." --Seneca

randomguy
Posts: 7976
Joined: Wed Sep 17, 2014 9:00 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by randomguy » Mon Jul 15, 2019 8:54 am

Grt2bOutdoors wrote:
Mon Jul 15, 2019 6:22 am
Have a nice trip!
You have $5 million, why is this even a question?
Because a lot of people hear have unhealthy relationships with money where the joy of money is from hoarding it. Money is to be spent. You just need to decide where it makes you happiest. Maybe it is a 30k vacation. Maybe it is 100k sports car. Maybe it is retiring 6 months earlier.

desihorn
Posts: 12
Joined: Thu Sep 27, 2018 9:01 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by desihorn » Mon Jul 15, 2019 9:03 am

By most practical considerations, you can afford this without making any dent in general goals that people have (retirement, college educations etc.) If you are asking this question though it will bug you before, during and after the vacation and take away from the enjoyment.

ponyboy
Posts: 741
Joined: Fri Feb 06, 2015 10:39 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by ponyboy » Mon Jul 15, 2019 11:28 am

wordsmith11 wrote:
Sun Jul 14, 2019 3:51 pm
I detest these threads. I can't be the only one.
Yup. At least everyone now knows where OP stands...that was pretty much the point to begin with imo. The trip was never going to happen in the first place.

dbr
Posts: 29798
Joined: Sun Mar 04, 2007 9:50 am

Re: I think i can spend 30k on this vacation, but wife not sure

Post by dbr » Mon Jul 15, 2019 11:31 am

The actionable part of this for the forum is to get some perspective on wealth vs needs and wants even if it doesn't apply to the OP. People's personal decisions are up to them, of course.

StandingRock
Posts: 260
Joined: Sat Feb 02, 2019 6:54 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by StandingRock » Mon Jul 15, 2019 11:43 am

Just go if you want. Tell your old lady it's none of her business.

User avatar
G12
Posts: 1507
Joined: Mon Apr 16, 2007 2:35 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by G12 » Mon Jul 15, 2019 11:50 am

Feeding a troll on this one.

ohai
Posts: 923
Joined: Wed Dec 27, 2017 2:10 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by ohai » Mon Jul 15, 2019 11:50 am

I think the concern with OP and his wife is not whether they can afford a $30k charge for something - obviously they can. It is what it would mean to normalize this kind of non essential expense. They are asking whether it generally makes sense to be the kind of people who blow $30k on a vacation, and their answer is no.

So, I think it is a reasonable question. I wouldn't want to act like it's ok to spend 20% of their potential capital drawdown on safaris. They probably spent their whole lives accumulating their money, and it is good to not lose perspective after all that.

User avatar
ResearchMed
Posts: 9057
Joined: Fri Dec 26, 2008 11:25 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by ResearchMed » Mon Jul 15, 2019 12:00 pm

dbr wrote:
Mon Jul 15, 2019 11:31 am
The actionable part of this for the forum is to get some perspective on wealth vs needs and wants even if it doesn't apply to the OP. People's personal decisions are up to them, of course.
The actionable part now is, if the OP has a history of one single thread, where OP then deletes all of OP's own posts, and then doesn't give any additional but relevant info... then somehow, thread should be able to be locked.

Or at least LABELLED at the *top* with some sort of "WARNING: Possible TROLL!" :twisted:

Without a warning (or lock) posts like this end up being a serious waste of time, for many people who are genuinely trying to help.

RM
This signature is a placebo. You are in the control group.

User avatar
BogleFanGal
Posts: 329
Joined: Mon Mar 20, 2017 6:59 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by BogleFanGal » Mon Jul 15, 2019 12:04 pm

"Because a lot of people hear have unhealthy relationships with money where the joy of money is from hoarding it."

It's not always "joy of hoarding" as if the person is a greedy miser. It's often fear-based. Money = safety/security. A significant purchase commitment feels scary: like they're sacrificing their safety net ...even if it's for something positive or a small % of their net worth. Now, if I ever reached that level - $5 mill w/continued 6 figure income, I'd think I'd lose a LOT of that fear. :D But the psychology of money is rarely logical or rational.

User avatar
whodidntante
Posts: 5890
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: I think i can spend 30k on this vacation, but wife not sure

Post by whodidntante » Mon Jul 15, 2019 12:26 pm

Explain to your wife that some people who like low cost mutual funds think you can afford it. Thus solving the problem forever.

StandingRock
Posts: 260
Joined: Sat Feb 02, 2019 6:54 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by StandingRock » Mon Jul 15, 2019 12:41 pm

whodidntante wrote:
Mon Jul 15, 2019 12:26 pm
Explain to your wife that some people who like low cost mutual funds think you can afford it. Thus solving the problem forever.
lol

THY4373
Posts: 1117
Joined: Thu Mar 22, 2012 3:17 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by THY4373 » Mon Jul 15, 2019 1:28 pm

Honestly OP is probably wise to avoid this as he/she might find out they like travel and then do more of it (I have this problem). It is awesome as heck but I could save more if I didn't do it. Still we only go around this crazy world once so I might as well enjoy it as long as I am not putting my future at risk.

John Laurens
Posts: 431
Joined: Mon Nov 14, 2016 7:31 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by John Laurens » Mon Jul 15, 2019 1:34 pm

Yes. Enjoy your trip! I would be more worried about having such a significant portion of your net worth in Municipal bonds.

Regards,
John

02nz
Posts: 2140
Joined: Wed Feb 21, 2018 3:17 pm

Re: I think i can spend 30k on this vacation, but wife not sure

Post by 02nz » Mon Jul 15, 2019 1:47 pm

corn18 wrote:
Sun Jul 14, 2019 7:44 pm
Why are you spending so little? Ours is $60k and we didn't get the private jet.
The private jet in your avatar costs more than $60K. :happy

User avatar
tennisplyr
Posts: 2267
Joined: Tue Jan 28, 2014 1:53 pm
Location: Sarasota, FL

Re: I think i can spend 30k on this vacation, but wife not sure

Post by tennisplyr » Mon Jul 15, 2019 2:07 pm

Do it, life is very short...you can always adjust accordingly down the road.
Those who move forward with a happy spirit will find that things always work out.

Post Reply