High Cost Once-in-a-lifetime "Vacation"

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CincyGuy
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High Cost Once-in-a-lifetime "Vacation"

Post by CincyGuy »

Hi All! Been a long time since I've posted here. I'm looking to get feedback on a high cost once-in-a-lifetime "vacation".

I'm looking to do a big trip for my 40th Birthday next year - specifically a polar expedition (which is why I put vacation in quotes). The cost all-in including gear, flights, and the expedition itself is ~$75K.

I'm looking to get feedback on:
1) Am I crazy? One side of me feels like I could use the $75K to buy a Tesla or keep it growing in the market. The other says that I should do stuff like this while I'm relatively young and still can. We have worked hard and saved a good amount for retirement (see below) and if I work until 50 we should have $6M or so. Also I feel like my net worth may not even "feel" it since the stock market swings our NW $50K/day sometimes.
side question: Has anyone ever done this and regret it?
2) How would you pay for it? Currently have $80k cash emergency fund (which I dislike). If save my usual taxable investment for next year (see below - $20k or so), I could simply cash flow it (which would leave me a ~3 month emergency fund next year when the big payments are due). I could also sell some vested options (incurring taxes now vs. 2026), take a margin loan, HELOC, etc. Can't put it on a no-interest CC unfortunately.

Your inputs are greatly appreciated!

Background:
Me: 39 years old
Gross: $210k/year.
Wife: $25k self-employed (almost all saved in solo 401k so don't really include that in my cash flow)
We typically save:
Max Roth $12K/year
Max 401k - $12K/year (limited by HCE) + wife ($22K/year) + My employer Contribution $33k/year - $67K/year
HSA $7.2K/year
529 - $18K/year
Taxable - anything left - currently about 20K/year
Total savings - ~$115-125K/year

NW: ~3.6M including home equity
Excluding 529, ~$3M for retirement ($1.3M taxable, $1.6M tax free or tax deferred, rest cash)
No debt except for $100K left on mortgage. Cars paid off and generally living below our means (I think).
marcopolo
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by marcopolo »

You are doing great financially.
Go enjoy your adventure. It will have negligible impact on your long term finances.
If you don't spend your money on things you enjoy, your kids will, after you are gone.
Once in a while you get shown the light, in the strangest of places if you look at it right.
SmallSaver
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by SmallSaver »

Without getting into your financial situation, which seems solid, that seems like a lot of money for that trip? There are probably a lot of ways to scratch that itch (even getting to the arctic/Antarctic) for quite a bit less. Or, put another way, you could have 5 wild adventures for the same price. All that said, it's your money and your life, so if this is what really lights your fire I don't mean to diminish that.
Last edited by SmallSaver on Wed Nov 24, 2021 3:30 pm, edited 2 times in total.
metacritic
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by metacritic »

That's a staggeringly expensive trip. Is it for two people? I've never contemplated anything close to it and that includes trips to the Galapagos and Antartica for a family of four (neither undertaken yet). That said, you have saved prodigiously (unless there is significant windfall in your total net worth). With your presumed savings rate, your sum in your emergency fund, and your ability to cashflow a significant piece of the trip, I'd guess that I'll say what very few here would say. Go for it! It sounds far better an experience than getting a car with the same money. I'd pay at least 30k from the emergency fund as long as you still have 4-6 months savings in the account, cash flow as much as you are able, and take the rest from taxable savings. Absolutely don't use loans under any conditions.
roadnottaken
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by roadnottaken »

Do it!
Scotttheking
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Scotttheking »

Do it, have fun! And take me along too please.
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Doom&Gloom
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Doom&Gloom »

"Why the hell not?" -- Kinky Friedman
London
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by London »

Trip represents 2% of your net worth. If you can’t spend 2% of your worth on a dream, good luck in life.
MarkRoulo
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by MarkRoulo »

CincyGuy wrote: Wed Nov 24, 2021 3:05 pm Hi All! Been a long time since I've posted here. I'm looking to get feedback on a high cost once-in-a-lifetime "vacation".

I'm looking to do a big trip for my 40th Birthday next year - specifically a polar expedition (which is why I put vacation in quotes). The cost all-in including gear, flights, and the expedition itself is ~$75K.

I'm looking to get feedback on:
1) Am I crazy? One side of me feels like I could use the $75K to buy a Tesla or keep it growing in the market. The other says that I should do stuff like this while I'm relatively young and still can. We have worked hard and saved a good amount for retirement (see below) and if I work until 50 we should have $6M or so. Also I feel like my net worth may not even "feel" it since the stock market swings our NW $50K/day sometimes.
side question: Has anyone ever done this and regret it?
...

Your inputs are greatly appreciated!

Background:
...
Total savings - ~$115-125K/year

NW: ~3.6M including home equity
Excluding 529, ~$3M for retirement ($1.3M taxable, $1.6M tax free or tax deferred, rest cash)
...
Do it.

This is less than one years' savings and you won't do this every year (or, probably, ever again ...). The goal isn't to die with the largest financial statement!!!!!

And, yes, you do want to do this while you are relatively young and healthy. My wife and I did our "big" travels when we were young and it can be a lot easier then [as an example ... one of our trips was to the Antarctic. As part of a fairly chaotic "evacuation" of an island explore because ice was moving in, one of our fellow tourists fell out of a zodiac into the Ross Sea. You don't want to do that when you are old :-)]

Also, my wife and I distinguish between "vacation" which might include going to DisneyLand or Hawai'i and "travel" which might including heading to the arctic. Your wife and you are doing "travel" :-)
THY4373
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by THY4373 »

You can clearly afford it and I am very pro travel, pro adventure and pro spending on a experiences. The only two caveats I would have is refundability in an age of COVID as things travel-wise are not back to normal and are taking longer than I would have guessed so make sure you are good with any risk that might present. Two, make sure you are getting your bang for your buck out of this. If this is truly your dream absolutely go for it you can afford it but by the same token as pointed out by at least one other person above you could do a lot of awesome trips for that kind of money. I have probably spent close to what you have on this one trip over the last six years but then I have been to 30 countries in that time. Not saying my way is better or worse just that you could have a lot of awesome experiences for $75k.
KlangFool
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by KlangFool »

CincyGuy wrote: Wed Nov 24, 2021 3:05 pm
529 - $18K/year
Taxable - anything left - currently about 20K/year
$1.3M taxable,
CincyGuy,

1) Spend down your 80K emergency fund.

2) Refill it by

A) Do not contribute to 529
B) Do not invest your extra 20K per year in the taxable account
C) Do not reinvest your taxable account dividend and distribution.

Aka, spend the 70K without paying additional taxes.

KlangFool
Last edited by KlangFool on Wed Nov 24, 2021 4:07 pm, edited 1 time in total.
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livingalmostlarge
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by livingalmostlarge »

Hell yes. I would if you wanted. For my 40th we were supposed to be traveling and covid hit soo....it's still a dream.
Mr.BB
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Mr.BB »

This seems like one of those trips that 30 years from now you will still be talking about as a great memory.
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Nicolas
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Nicolas »

I would love to go to polar regions. You didn’t say which pole but I assume south. The closest I’ve come to a pole was in Iceland and I loved it. The sky just looked different, it’s hard to describe. For that money you could do a round-the-world cruise (maybe), but that would take quite a bit of time. I’d love to go. I’d say do it, otherwise you may regret the lost opportunity.
surfstar
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by surfstar »

I'll endorse your spending, but only if you can tell us your secret to that NW at that age with that savings rate. crypto? IPO? lol
RetiredAL
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by RetiredAL »

CincyGuy wrote: Wed Nov 24, 2021 3:05 pm Hi All! Been a long time since I've posted here. I'm looking to get feedback on a high cost once-in-a-lifetime "vacation".

I'm looking to do a big trip for my 40th Birthday next year - specifically a polar expedition (which is why I put vacation in quotes). The cost all-in including gear, flights, and the expedition itself is ~$75K.

I have an acquaintance who as a 20 yr old was a helicopter crewman on a Coastguard Icebreaker during Operation Deep Freeze 1 in the mid 50's. He speaks very fondly of this and even wrote a book about his experiences.

Go for it!
livesoft
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by livesoft »

I'm getting a chuckle out of this because a colleague of mine had to go install some equipment in Point Barrow, Alaska. He got a polar expedition paid for by the client.
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Vtsax100
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Vtsax100 »

I just need to know what is involved in this expedition.
exodusNH
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by exodusNH »

CincyGuy wrote: Wed Nov 24, 2021 3:05 pm Hi All! Been a long time since I've posted here. I'm looking to get feedback on a high cost once-in-a-lifetime "vacation".

I'm looking to do a big trip for my 40th Birthday next year - specifically a polar expedition (which is why I put vacation in quotes). The cost all-in including gear, flights, and the expedition itself is ~$75K.

I'm looking to get feedback on:
1) Am I crazy? One side of me feels like I could use the $75K to buy a Tesla or keep it growing in the market. The other says that I should do stuff like this while I'm relatively young and still can. We have worked hard and saved a good amount for retirement (see below) and if I work until 50 we should have $6M or so. Also I feel like my net worth may not even "feel" it since the stock market swings our NW $50K/day sometimes.
side question: Has anyone ever done this and regret it?
Research shows that people ultimately value experiences more than things. You can obviously afford this. I would do this in your shoes, especially since you're on the cusp of the age where you go to bed feeling fine and wake up with a sore lower back because you "slept wrong"!
randybobandy
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by randybobandy »

You should do it and please provide an update with how it all went after you get back.

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ClevrChico
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by ClevrChico »

A week in Minnesota in January might replicate your trip on the cheap. j/k (kind of :twisted: )
bgf
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by bgf »

London wrote: Wed Nov 24, 2021 3:29 pm Trip represents 2% of your net worth. If you can’t spend 2% of your worth on a dream, good luck in life.
First thing I did was calculate that. I agree.
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Dottie57
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Dottie57 »

ClevrChico wrote: Wed Nov 24, 2021 4:58 pm A week in Minnesota in January might replicate your trip on the cheap. j/k (kind of :twisted: )
As a Minnesotan who went to college at Twin Cities campus and walk to my classes from off Campus. I was there from 1975-1979. It was brutally cold and snowy during this time.

I just can’t see a desire to go to the polar regions.
EnjoyIt
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by EnjoyIt »

You are 40. Its either this or a $75k Porsche. You choose.
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fishandgolf
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by fishandgolf »

EnjoyIt wrote: Wed Nov 24, 2021 5:38 pm You are 40. Its either this or a $75k Porsche. You choose.
Why not both..... :sharebeer

Just do it......and have fun!
afan
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by afan »

KlangFool wrote: Wed Nov 24, 2021 3:51 pm
CincyGuy wrote: Wed Nov 24, 2021 3:05 pm
529 - $18K/year
Taxable - anything left - currently about 20K/year
$1.3M taxable,
CincyGuy,

1) Spend down your 80K emergency fund.

2) Refill it by

A) Do not contribute to 529
B) Do not invest your extra 20K per year in the taxable account
C) Do not reinvest your taxable account dividend and distribution.

Aka, spend the 70K without paying additional taxes.

KlangFool
So empty out the emergency fund??? What happens if there is, you know, an emergency?

Better idea- save up enough to pay for the trip without touching the emergency fund.

Is there some hurry? Will you no longer be able to pursue this by the time you save up for it?

Keep the 529 investments. Keep reinvesting capital gains and dividends.
You can afford it once you have accumulated the money to pay for it, which has not happened yet.

I would not consider spending anything approaching 2% of my networth on a vacation.

"Once in a lifetime" expenses have a way of becoming recurring costs.
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eye.surgeon
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by eye.surgeon »

Do it. Experiences are the best way to spend unneeded money.
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esteen
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by esteen »

marcopolo wrote: Wed Nov 24, 2021 3:10 pm You are doing great financially.
Go enjoy your adventure. It will have negligible impact on your long term finances.
If you don't spend your money on things you enjoy, your kids will, after you are gone.
+1. I say go for it.

Just don't do something like it every year :)
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afan
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by afan »

fishandgolf wrote: Wed Nov 24, 2021 5:44 pm
EnjoyIt wrote: Wed Nov 24, 2021 5:38 pm You are 40. Its either this or a $75k Porsche. You choose.
Why not both..... :sharebeer

Just do it......and have fun!
Exactly my point about "once in a lifetime" expenses

If you want an expensive trip, save for it.
If you want an expensive car, save for it.

During that savings it is possible you come to your senses and don't buy either.
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either | --Swedroe | We assume that markets are efficient, that prices are right | --Fama
er999
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by er999 »

You need to post a link to the trip so the rest of us can check it out. It must be a spectacular trip as when I’ve looked at Antarctic cruises at quark expeditions (which seem like a good choice) they seem to start at $8k for a shared cabin for a shorter trip. It will be a nice addition to the expensive car threads that are posted every few months on here.
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Watty
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Watty »

One thing to be prepared for is that if you will be going with a group then the average age may be pretty high since retired people may be the majority of the people who can afford a trip like that and have the time for it. Be sure to research that since if it you are traveling with older people that could defeat the reason for traveling when you are younger.

You can afford it but the big question is if it is the best use of your money.

Just for brainstorming.

I have never done it but you might try doing something like Yellowstone National Park in the winter time to see how much you actually like winter vacations. You could likely do that for a fraction of the cost and there would be less chance that it would be disrupted by the pandemic since it would not involve international travel. You might even be able to afford that and a used Tesla too. :wink:

I have heard people say good things about that even though it can be challenging. There are lots of great travel opportunities in Alaska too.

If you like that then you could do a polar expedition when the pandemic settles down.

If might help if you clarify just what you mean by "Polar Expedition" I would suspect if it is to Antarctica that while there are no doubt a lot of highlights it sounds like more of a bucket list bragging rights trip and there are better adventure vacations available.
MrJedi
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by MrJedi »

Yes, you can clearly afford this as a one time event. You are already in the neighborhood of being able to retire early at age 39 and still saving 100k+/year.

How to pay is easy. Use your 80k cash position. Set aside the 75k now as money already spent/earmarked. Now you have 5k cash leftover and you can start diverting your additional taxable contributions toward cash over the next year or two to get back to the cash position you desire.
Dottie57
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Dottie57 »

QQ. Are you and your wife going or just You?
EnjoyIt
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by EnjoyIt »

afan wrote: Wed Nov 24, 2021 5:50 pm
fishandgolf wrote: Wed Nov 24, 2021 5:44 pm
EnjoyIt wrote: Wed Nov 24, 2021 5:38 pm You are 40. Its either this or a $75k Porsche. You choose.
Why not both..... :sharebeer

Just do it......and have fun!
Exactly my point about "once in a lifetime" expenses

If you want an expensive trip, save for it.
If you want an expensive car, save for it.

During that savings it is possible you come to your senses and don't buy either.
Yup, always pay cash for luxuries. If you can't pay cash, then you can't afford it.

disclaimer: Some can pay cash but prefer to finance for tax or arbitrage purpose. The above comment excludes those people.
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burgrat
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by burgrat »

Do it! That is an expensive trip, but it sounds awesome. Do you care to share more about the trip (duration, outfitter, etc.)? I would love to know more. I am always in favor of experiences over buying more stuff.
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Sherlock »

I took a "once in a lifetime" trip to Antarctica two years ago with G Adventures, small ship 130 passengers. Two weeks $10k all in, airfare, lodging in Buenos Aires and Ushia, postcards etc. Went alone as my dw had no interest. Surprising number of young people in 20's and 30's and even couple of families. Ship's Captain presided for a wedding with champagne for all. The entire experience was Spectacular beyond words. If you feel you have to go, it will be worth every penny. I can't wait to do it again.
makingmistakes
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by makingmistakes »

burgrat wrote: Wed Nov 24, 2021 6:34 pm Do it! That is an expensive trip, but it sounds awesome. Do you care to share more about the trip (duration, outfitter, etc.)? I would love to know more. I am always in favor of experiences over buying more stuff.
Those aren’t the only 2 options.
tiger81
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by tiger81 »

Do it. You are in a fantastic situation and this 75k isn’t going to alter that one bit
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Nicolas »

Watty wrote: Wed Nov 24, 2021 6:00 pm One thing to be prepared for is that if you will be going with a group then the average age may be pretty high since retired people may be the majority of the people who can afford a trip like that and have the time for it. Be sure to research that since if it you are traveling with older people that could defeat the reason for traveling when you are younger.
I don’t think there would be that many blue-haired ladies on board as traversing the Straits of Magellan and the Drake Passage can be pretty rough, or so I’ve been told. But I could be wrong.
inbox788
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by inbox788 »

Nicolas wrote: Wed Nov 24, 2021 4:06 pm I would love to go to polar regions. You didn’t say which pole but I assume south. The closest I’ve come to a pole was in Iceland and I loved it. The sky just looked different, it’s hard to describe. For that money you could do a round-the-world cruise (maybe), but that would take quite a bit of time. I’d love to go. I’d say do it, otherwise you may regret the lost opportunity.
I would assume north. It's much harder and more expensive to go south. Also likely takes a lot longer if you're aiming for the pole.

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DiMAn0684
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by DiMAn0684 »

Go. I am a saver (miser :confused ) by nature, but looking back at all the times I went "oof, I have the $, but should I do this?" and actually went ahead it was well worth it.
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CincyGuy
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by CincyGuy »

Thanks for all the great advice!

It is actually a "South Pole Ski the Last Degree" trip where you first fly to Punta Arenas, Chile. You then fly down to Union Glacier and get acclimated to the 10,000 ft elevation for a few days. They then fly you to the 88th degree, where basically you are 80 miles or so from the South Pole. You then ski and camp for 6-7 days to get there, and then camp overnight. The return trip is via flight.

I've done the Antarctica trip that a few of you mentioned - my wife and I about 9 years ago before we had kids and we absolutely loved it (Quark as er999 mentioned, who I would strongly recommend!). Over the past year or so I've researched this trip and now want to commit to doing it. For me, it's not only about getting to the South Pole, which I think is a huge accomplishment, but it's also setting the goal and the training and preparation required to get there that few people can say they've done. In fact, there is a training trip in the dead of the winter in Colorado that I'd do to make sure that I could do it and that it's the right thing for me to do. I wouldn't commit until after that trip, of course.

It would just be me - my wife has no interest in this type of activity. Plus she and the grandparents have to watch the kiddos.

Thanks for all the great suggestions and encouragement not to just continue to hoard money, but enjoy it along the way. I'll respond to some other of the comments directly. Thanks again! Such a great community here!
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CincyGuy
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by CincyGuy »

surfstar wrote: Wed Nov 24, 2021 4:21 pm I'll endorse your spending, but only if you can tell us your secret to that NW at that age with that savings rate. crypto? IPO? lol
Great question. Actually it's all about this community. I've been working now full time for about 15 years, but only seriously started investing about 10 years ago. At that time one of my good friends introduced me to this forum and I've been a frequent reader (only a few time poster ever since).

Definitely no IPOs and only started dabbling in Crypto with my "fun money" (which I think is not even an allowed discussion point here). No inheritance either. Have just worked at MegaCorp (my wife at the same one until a few years ago), and worked slowly up the corporate ladder to the fun place of middle management. But really it comes down to budgeting and living below your means and just continuing to save as much as you can as early as you can and following the simple portfolio philosophies here. We are at 85% stocks (60% US, 25% Intl), 15% Bonds and have very simple portfolio, where everything is an ETF except for MegaCorp stock which I'm locked into. That's what this community is about, and it's served me well!
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CincyGuy
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by CincyGuy »

er999 wrote: Wed Nov 24, 2021 5:52 pm You need to post a link to the trip so the rest of us can check it out. It must be a spectacular trip as when I’ve looked at Antarctic cruises at quark expeditions (which seem like a good choice) they seem to start at $8k for a shared cabin for a shorter trip. It will be a nice addition to the expensive car threads that are posted every few months on here.
Here is the trip:
https://www.mtnprofessionals.com/polar- ... st-degree/

There are a few providers like them and everyone is at the same ballpark cost. That's because they all use the same logistics provider to get you from Punta Arenas, Chile, to Union Glacier to 88th degree, and then all the way back.

I would definitely recommend Quark. My wife and I did one of those in 2012. They actually have a Black Friday deal going on right now. Their crew/staff are awesome and we definitely have tons of memories from that trip.
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CincyGuy
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by CincyGuy »

Nicolas wrote: Wed Nov 24, 2021 7:12 pm
Watty wrote: Wed Nov 24, 2021 6:00 pm One thing to be prepared for is that if you will be going with a group then the average age may be pretty high since retired people may be the majority of the people who can afford a trip like that and have the time for it. Be sure to research that since if it you are traveling with older people that could defeat the reason for traveling when you are younger.
I don’t think there would be that many blue-haired ladies on board as traversing the Straits of Magellan and the Drake Passage can be pretty rough, or so I’ve been told. But I could be wrong.
I think for the Skiing expeditions, the more adventurous type of people are found that are typically mountain climbers etc (which I am not). However you are right, on the Antarctic "cruises" that are pricey, the clientele is definitively older/retired. Out of the ~100 passengers on our 2012 trip, my wife and I were the youngest and there was only a smaller crew of young people - from all the around the world. Everyone else was in there 50s, 60s, and even 70s. They make the trip surprisingly accessible. The Drake Passage is pretty rough but I saw plenty of older ladies on the cruise!
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Nicolas
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by Nicolas »

^^^ What an adventure, hope you make it okay.
Last edited by Nicolas on Thu Nov 25, 2021 4:36 am, edited 1 time in total.
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JoeRetire
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by JoeRetire »

esteen wrote: Wed Nov 24, 2021 5:50 pm
marcopolo wrote: Wed Nov 24, 2021 3:10 pm You are doing great financially.
Go enjoy your adventure. It will have negligible impact on your long term finances.
If you don't spend your money on things you enjoy, your kids will, after you are gone.
+1. I say go for it.

Just don't do something like it every year :)
If this is for the 40th birthday, I suspect the once-in-a-lifetime will actually be once-each-ten-years.

I have a friend who has done this sort of thing repeatedly. But he also buys himself plenty of toys as well (multiple Tesla purchases, etc). After all, it's only x% of his net worth next year too.

It makes no sense to spend an emergency fund on non-emergencies, IMHO. But whatever.
I love a good nap. Sometimes it’s the only thing getting me out of bed in the morning.
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HomerJ
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by HomerJ »

Only if it's a real once in a lifetime trip... (or maybe every 10 years)

We did a Holy Land cruise (Rome, Athens, Egypt, Israel) 15 years ago that cost us like $15k which we considered it worth it because it was a "once in a lifetime" trip..

Of course now we spend that nearly every year on new once in a lifetime trips...

It's become normal.. which means we now need more to retire to maintain our higher standard of living. But we are okay with that.

So just be careful that this new adventure side of you doesn't require a new $75k adrenaline rush every year.
"The best tools available to us are shovels, not scalpels. Don't get carried away." - vanBogle59
JackBoglereader21
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by JackBoglereader21 »

CincyGuy wrote: Wed Nov 24, 2021 9:03 pm
er999 wrote: Wed Nov 24, 2021 5:52 pm You need to post a link to the trip so the rest of us can check it out. It must be a spectacular trip as when I’ve looked at Antarctic cruises at quark expeditions (which seem like a good choice) they seem to start at $8k for a shared cabin for a shorter trip. It will be a nice addition to the expensive car threads that are posted every few months on here.
Here is the trip:
https://www.mtnprofessionals.com/polar- ... st-degree/

There are a few providers like them and everyone is at the same ballpark cost. That's because they all use the same logistics provider to get you from Punta Arenas, Chile, to Union Glacier to 88th degree, and then all the way back.

I would definitely recommend Quark. My wife and I did one of those in 2012. They actually have a Black Friday deal going on right now. Their crew/staff are awesome and we definitely have tons of memories from that trip.
Thank you for posting this question and, more specifically, thank you for sharing your income and NW. While I don't currently have a once-in-a-lifetime trip in mind, your post and the community's responses have given me the encouragement to start thinking differently about how much I could actually afford. I have been reading this forum for longer than I can remember and am grateful always to get a new perspective, especially about spending. Growing up with much, much less than I have now, it's always hard to breakthrough the fear of what-if-we-don't-have-enough. The reality is we have far more than we need but still difficult to live like we do. Recently member questions about whether they should spend on vacation, cars, etc which include income, NW, savings have been very helpful (and appreciated).

We have not flown since Nov 2019 are thinking about a summer trip to the East Coast from California. For the first time I am considering Business Class fares for my family. For our dates, Coach is $350, Extra Legroom $500 and Business Class $1,100. I will discuss it over turkey tomorrow but I think I'm going to go for it. Happy Thanksgiving.
59Gibson
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Re: High Cost Once-in-a-lifetime "Vacation"

Post by 59Gibson »

JoeRetire wrote: Wed Nov 24, 2021 9:13 pm
esteen wrote: Wed Nov 24, 2021 5:50 pm
marcopolo wrote: Wed Nov 24, 2021 3:10 pm You are doing great financially.
Go enjoy your adventure. It will have negligible impact on your long term finances.
If you don't spend your money on things you enjoy, your kids will, after you are gone.
+1. I say go for it.

Just don't do something like it every year :)
If this is for the 40th birthday, I suspect the once-in-a-lifetime will actually be once-each-ten-years.

I have a friend who has done this sort of thing repeatedly. But he also buys himself plenty of toys as well (multiple Tesla purchases, etc). After all, it's only x% of his net worth next year too.

It makes no sense to spend an emergency fund on non-emergencies, IMHO. But whatever.
Ha. Kind of reminds of the folks that go out every New Year's eve and get smashed because it's a new year #. Couldn't one rationalize doing that every day? Hey there won't be another 11/24/21..Let's Go yay!
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