What big item (>20k) are you saving up for?
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Re: What big item (>20k) are you saving up for?
This is the first year where we'll be saving a lot in taxable rather than paying off debt. We are only 33 and no kids yet, so the big items we're saving up for are:
-Expenses if/when wife's grandmother (who only speaks Bulgarian) starts needing more care - this is the big wild card
-Eventual/potential house upgrade - would be great to have a SFH w/yard, but in the Bay Area that is a LOT of saving! Currently in a townhouse that we like, but no privacy and I can't even fit a vertical herb garden in our tiny balcony.
-Kid expenses if/when we have one - 529 will be started at the same time
-I have a special account for a fun/expensive car that a portion of my bonus and raise goes to (huge car nut here). That's contingent on the above not becoming a huge weight on our finances, but if it all works out and investments do well, a used Porsche/Ferrari/etc. in 4-5 years
-FIRE
-Expenses if/when wife's grandmother (who only speaks Bulgarian) starts needing more care - this is the big wild card
-Eventual/potential house upgrade - would be great to have a SFH w/yard, but in the Bay Area that is a LOT of saving! Currently in a townhouse that we like, but no privacy and I can't even fit a vertical herb garden in our tiny balcony.
-Kid expenses if/when we have one - 529 will be started at the same time
-I have a special account for a fun/expensive car that a portion of my bonus and raise goes to (huge car nut here). That's contingent on the above not becoming a huge weight on our finances, but if it all works out and investments do well, a used Porsche/Ferrari/etc. in 4-5 years
-FIRE
Re: What big item (>20k) are you saving up for?
Disclaimer: 33-year old male, single, no kids.
- Enough to pay almost cash or huge downpayment for a home when the time comes.
- Money for future family.
- Any opportunities that arise that will help that money make money.
Other than that, 100% of that money is parked in good ole Vanguard Total US Stock Market Index Fund.
- Enough to pay almost cash or huge downpayment for a home when the time comes.
- Money for future family.
- Any opportunities that arise that will help that money make money.
Other than that, 100% of that money is parked in good ole Vanguard Total US Stock Market Index Fund.
Re: What big item (>20k) are you saving up for?
cars - typically we pay cash
Home remodel - just spent about $100k on home remodel, maintenance and furniture (also cash out refinanced)
Kids college
Reserve for times when I am not working
Home remodel - just spent about $100k on home remodel, maintenance and furniture (also cash out refinanced)
Kids college
Reserve for times when I am not working
Re: What big item (>20k) are you saving up for?
This is my logic as well.whodidntante wrote: ↑Mon Feb 12, 2018 6:53 pmNo, 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.Lonestarz wrote: ↑Mon Feb 12, 2018 6:29 pmSo 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?whodidntante wrote: ↑Mon Feb 12, 2018 5:57 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.
Taking care of tomorrow while enjoying today.
Re: What big item (>20k) are you saving up for?
Living on the edge, huh?ny_rn wrote: ↑Tue Feb 13, 2018 2:57 pm Disclaimer: 33-year old male, single, no kids.
- Enough to pay almost cash or huge downpayment for a home when the time comes.
- Money for future family.
- Any opportunities that arise that will help that money make money.
Other than that, 100% of that money is parked in good ole Vanguard Total US Stock Market Index Fund.
Time is the ultimate currency.
Re: What big item (>20k) are you saving up for?
Next car, bathroom remodel, roth conversions. Not sure what will win.
Re: What big item (>20k) are you saving up for?
Seven digit house.
Tim
Tim
Re: What big item (>20k) are you saving up for?
1. Next car.
2. Sailboat for retirement.
3. Retirement.
2. Sailboat for retirement.
3. Retirement.
Re: What big item (>20k) are you saving up for?
Same here...no separate buckets for things...if I need, or want, something, I buy it. I just wouldn't buy anything that made me think, "oh, if I get this I'll have to cut back over there."srt7 wrote: ↑Tue Feb 13, 2018 3:24 pmThis is my logic as well.whodidntante wrote: ↑Mon Feb 12, 2018 6:53 pmNo, 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.Lonestarz wrote: ↑Mon Feb 12, 2018 6:29 pmSo 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?whodidntante wrote: ↑Mon Feb 12, 2018 5:57 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.
Re: What big item (>20k) are you saving up for?
We pile all the "money we don't need right now" into a taxable account (retirement accounts fully funded), intending to at some point draw from it for >20k expenses such as buying a car or putting the kid through college (ok, that'll likely be a >$200k expense ). But last year when the balance surpassed any amount we'd consider spending on a luxury car (Audi Q7 being the most likely candidate), she decided to keep driving her old Lexus for a few more years anyway. So it continues to grow until she's ready.
There's certainly risk in having our "car fund" invested (and pretty aggressively, at 85% stock). But if we wanted to buy a car while the market was significantly down, we'd just wait some more, or finance it and divert a portion of the bi-weekly contributions to cover the payment.
There's certainly risk in having our "car fund" invested (and pretty aggressively, at 85% stock). But if we wanted to buy a car while the market was significantly down, we'd just wait some more, or finance it and divert a portion of the bi-weekly contributions to cover the payment.
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Re: What big item (>20k) are you saving up for?
I am saving for a home downpayment in I-bonds (currently a renter). My situation now is better to stay as a renter, but not sure about the future. If I decided to stay a renter forever, the money would be earmarked for retirement and I would consider them a part of my retirement portfolio (in bonds), and would rebalance into stocks..
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather
Re: What big item (>20k) are you saving up for?
A year off to travel with the kids. Not too much point for us for early (earlier?) retirement while the kids are at home and in school.
Re: What big item (>20k) are you saving up for?
A piece of property in the mountains to build a cabin on.
Re: What big item (>20k) are you saving up for?
We would never notice extra money in our accounts and just spend it because it was there. $20k is just two months less work at the other end.
That being said, $20k would also cover two years of planned upgrades on the boat. There just isn't any reason to accelerate the schedule, as the sails still move the boat.
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Re: What big item (>20k) are you saving up for?
A new house.
Pleased that we've stashed enough already to avoid PMI this time.
Pleased that we've stashed enough already to avoid PMI this time.
- Clever_Username
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Re: What big item (>20k) are you saving up for?
My car is almost at an eighth of a million miles. I suppose in the next decade or so I'll need a new-to-me one, might even go new and might even go over $20k. Remains to be determined!
"What was true then is true now. Have a plan. Stick to it." -- XXXX, _Layer Cake_ |
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Re: What big item (>20k) are you saving up for?
I'm saving up to buy an apartment complex as an investment. Will need much more than $20k though.
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Re: What big item (>20k) are you saving up for?
That's a weird way of saying "just shy of 125,000."
Re: What big item (>20k) are you saving up for?
We have some necessary home repairs that we are considering coupling with the addition of a patio. Trying to balance two, sometimes competing mantras:
1) Spend conservatively
2) buy once, cry once
1) Spend conservatively
2) buy once, cry once
- Clever_Username
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Re: What big item (>20k) are you saving up for?
I suppose. I wanted it to sound like less than it is maybe so it would feel like. Sort of the opposite to how when I lived in a cold climate, I would express the temperature in Rankine to make it feel warmer. I did take a picture when the odometer passed 123456 miles last month.LiterallyIronic wrote: ↑Thu Feb 15, 2018 1:15 pmThat's a weird way of saying "just shy of 125,000."
"What was true then is true now. Have a plan. Stick to it." -- XXXX, _Layer Cake_ |
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I survived my first downturn and all I got was this signature line.
Re: What big item (>20k) are you saving up for?
Looks exactly like a $50 Timexcorn18 wrote: ↑Mon Feb 12, 2018 7:16 pmNot saving up for it, but I am trying hard not to pull the trigger on this one:gouverneur wrote: ↑Mon Feb 12, 2018 6:28 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).
Re: What big item (>20k) are you saving up for?
To be honest, I just don't get it. I have no idea how much that watch is worth or why it is worth that much. To me it looks like a simple watch and nothing special.HomerJ wrote: ↑Thu Feb 15, 2018 1:21 pmLooks exactly like a $50 Timexcorn18 wrote: ↑Mon Feb 12, 2018 7:16 pmNot saving up for it, but I am trying hard not to pull the trigger on this one:gouverneur wrote: ↑Mon Feb 12, 2018 6:28 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).
A time to EVALUATE your jitters: |
viewtopic.php?p=1139732#p1139732
Re: What big item (>20k) are you saving up for?
We have saved up a chunk of cash for a home remodel. We have also saved up cash for car purchases. Currently looking to save up a for a possible dedicated track car. I will decide in the next 3 months if that is definitely a go.
Personally I do not like taking out loans for things I believe I should be able to afford with a short time of savings.
Personally I do not like taking out loans for things I believe I should be able to afford with a short time of savings.
A time to EVALUATE your jitters: |
viewtopic.php?p=1139732#p1139732
- Jazztonight
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Re: What big item (>20k) are you saving up for?
I am happy to belong to the group of responders who have pretty much everything I need at this point.
However, of my "bucket list" items that actually cost money, the first is a world cruise. DW and I have the date penciled-in: Jan. 2020. 111 days.
If my car dies (before I do), I'll consider trying to get along without a car--I live in a downtown location with a 96 walking score. I'm tired of driving, and cars of any type no longer appeal to me.
I did strongly consider getting a refurbished Steinway grand piano at one point, but I haven't pulled the trigger. (Maybe because I know it won't make me a better pianist.)
I have a couple of nice watches that live in my dresser drawer. I'm decluttering much of what I have, but I'm keeping the tuxedo for the world cruise.
However, of my "bucket list" items that actually cost money, the first is a world cruise. DW and I have the date penciled-in: Jan. 2020. 111 days.
If my car dies (before I do), I'll consider trying to get along without a car--I live in a downtown location with a 96 walking score. I'm tired of driving, and cars of any type no longer appeal to me.
I did strongly consider getting a refurbished Steinway grand piano at one point, but I haven't pulled the trigger. (Maybe because I know it won't make me a better pianist.)
I have a couple of nice watches that live in my dresser drawer. I'm decluttering much of what I have, but I'm keeping the tuxedo for the world cruise.
"What does not destroy me, makes me stronger." Nietzsche
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Re: What big item (>20k) are you saving up for?
To each their own - I can't imagine spending $26k on that (per Jomashop) but if you have the coin for it then I suppose that's your prerogativeEnjoyIt wrote: ↑Thu Feb 15, 2018 1:28 pmTo be honest, I just don't get it. I have no idea how much that watch is worth or why it is worth that much. To me it looks like a simple watch and nothing special.HomerJ wrote: ↑Thu Feb 15, 2018 1:21 pmLooks exactly like a $50 Timexcorn18 wrote: ↑Mon Feb 12, 2018 7:16 pmNot saving up for it, but I am trying hard not to pull the trigger on this one:gouverneur wrote: ↑Mon Feb 12, 2018 6:28 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).
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute" - William Feather
Re: What big item (>20k) are you saving up for?
Kitchen remodel.
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Re: What big item (>20k) are you saving up for?
I am always surprised when I see someone younger wearing a watch. Wouldn't spend more than 50 bucks on a watch but to each their own. Just doesn't do enough for me to spend any kind of money when I can get one much cheaper that does the same thing.
Re: What big item (>20k) are you saving up for?
As for me, I'd rather spend $26k on that watch than any car you could buy. It's an absolute work of art.MindTheGAAP wrote: ↑Thu Feb 15, 2018 1:58 pmTo each their own - I can't imagine spending $26k on that (per Jomashop) but if you have the coin for it then I suppose that's your prerogativeEnjoyIt wrote: ↑Thu Feb 15, 2018 1:28 pmTo be honest, I just don't get it. I have no idea how much that watch is worth or why it is worth that much. To me it looks like a simple watch and nothing special.HomerJ wrote: ↑Thu Feb 15, 2018 1:21 pmLooks exactly like a $50 Timexcorn18 wrote: ↑Mon Feb 12, 2018 7:16 pmNot saving up for it, but I am trying hard not to pull the trigger on this one:gouverneur wrote: ↑Mon Feb 12, 2018 6:28 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).
Re: What big item (>20k) are you saving up for?
How about Fitness watch? I don't have a watch but I love my fitness watch.heyeaglefn wrote: ↑Thu Feb 15, 2018 2:25 pm I am always surprised when I see someone younger wearing a watch. Wouldn't spend more than 50 bucks on a watch but to each their own. Just doesn't do enough for me to spend any kind of money when I can get one much cheaper that does the same thing.
Time is the ultimate currency.
- Clever_Username
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Re: What big item (>20k) are you saving up for?
The watch I wear daily was a gift for me from my best friend when I was best man at his wedding. It almost certainly cost more than $50, but it looks great and reminds me of him when I wear it.heyeaglefn wrote: ↑Thu Feb 15, 2018 2:25 pm I am always surprised when I see someone younger wearing a watch. Wouldn't spend more than 50 bucks on a watch but to each their own. Just doesn't do enough for me to spend any kind of money when I can get one much cheaper that does the same thing.
"What was true then is true now. Have a plan. Stick to it." -- XXXX, _Layer Cake_ |
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I survived my first downturn and all I got was this signature line.
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Re: What big item (>20k) are you saving up for?
YOU CAN'T EVEN GET TEXTS ON THAT WATCH!!!!!!!!!!!!!!
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Re: What big item (>20k) are you saving up for?
Sure, a Fitness watch does much more than that watch above, even if it is uglier. To me I would get no pleasure our of wearing that watch above. Don't think it would get me any extra dates, well no more than using that 26k on something else like a car or nice clothes would.thangngo wrote: ↑Thu Feb 15, 2018 2:54 pmHow about Fitness watch? I don't have a watch but I love my fitness watch.heyeaglefn wrote: ↑Thu Feb 15, 2018 2:25 pm I am always surprised when I see someone younger wearing a watch. Wouldn't spend more than 50 bucks on a watch but to each their own. Just doesn't do enough for me to spend any kind of money when I can get one much cheaper that does the same thing.
But there are obviously people that buy them so like I said to each their own.
- 3CT_Paddler
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Re: What big item (>20k) are you saving up for?
It's amazing the difference several years makes... this thread would have been a ghost town in 2008-2010.
There is nothing big we are saving up for. As a middle class single income family with two kids and one on the way, just trying to save a little and keep everything running is the goal these days.
There is nothing big we are saving up for. As a middle class single income family with two kids and one on the way, just trying to save a little and keep everything running is the goal these days.
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Re: What big item (>20k) are you saving up for?
A house...miamivice wrote: ↑Mon Feb 12, 2018 5:50 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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Re: What big item (>20k) are you saving up for?
One (or perhaps even two in the long term of)
- My neighbor's pasture, if she decides its time to move to an assisted living facility
- A quiet piece of property up in the mountains for a cabin
- An add-on to our home to keep up with the kids as they grow
- My neighbor's pasture, if she decides its time to move to an assisted living facility
- A quiet piece of property up in the mountains for a cabin
- An add-on to our home to keep up with the kids as they grow
Re: What big item (>20k) are you saving up for?
End of life care.
Re: What big item (>20k) are you saving up for?
I never really thought about buckets but I guess I do use them in the sense that income typically goes to stocks so if I am anticipating buying a new car I would contribute to cash savings ahead of time. Even in retirement I would budget for a car so I don’t exceed my budget.whodidntante wrote: ↑Mon Feb 12, 2018 6:53 pm 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.
I think it’s a bit silly how immediately and firmly you oppose your understanding focusing on “buckets” as opposed to what I took to be a much more open ended question. You can call budgeting using buckets of it makes you happy.
Re: What big item (>20k) are you saving up for?
This year we paid off mortgage and fully funded college funds for 2 kids. Next up is paying for retirement. A few house projects but they are in the 10k or under variety (interior paint, replace the deck).
Could consider a condo somewhere warmer in 10 years but that is really just an idea at this point and not an active pursuit.
Could consider a condo somewhere warmer in 10 years but that is really just an idea at this point and not an active pursuit.
Re: What big item (>20k) are you saving up for?
Saving up to buy a bridge to 72(t).
Re: What big item (>20k) are you saving up for?
Retirement, or at least something other than medium to heavy physical labor, 20 months to go.
Re: What big item (>20k) are you saving up for?
House on Lake Washington in Medina next to Bill Gates, Paul Allen, and Jeff Bezos. Then I could make some extra cash dragging my lawn mower over and cutting their lawns.
All kidding aside, I am saving for a business venture in commercial real estate (mini storage).
All kidding aside, I am saving for a business venture in commercial real estate (mini storage).
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Re: What big item (>20k) are you saving up for?
FWIW, Corn18 has had several updates about his watch-buying phase. I think he ended up spending $270k in a short amount of time on watches and then realized he wasn't into it. I think he re-sold almost all of them and now wears a Timex (or the like).mak1277 wrote: ↑Thu Feb 15, 2018 2:53 pmAs for me, I'd rather spend $26k on that watch than any car you could buy. It's an absolute work of art.MindTheGAAP wrote: ↑Thu Feb 15, 2018 1:58 pmTo each their own - I can't imagine spending $26k on that (per Jomashop) but if you have the coin for it then I suppose that's your prerogative
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Re: What big item (>20k) are you saving up for?
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Last edited by weltschmerz on Tue Jan 01, 2019 12:30 pm, edited 1 time in total.
Re: What big item (>20k) are you saving up for?
Retirement. Need at least $3.5m (total, not more). Fortunately, everything else I am able to just buy at this point. Including the Porsche that I have been wanting, but will not actually pull the trigger on.
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Re: What big item (>20k) are you saving up for?
Buying a car. Like others, I have a taxable account that's sufficient, but I choose to keep my car fund completely separate at Schwab because I don't consider it (or a car) as part of my net worth, so I like to keep it completely off my radar.
Re: What big item (>20k) are you saving up for?
Saving in VTIAX to buy more VTIAX
Never look back unless you are planning to go that way
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Re: What big item (>20k) are you saving up for?
Oh, I want to go, too! Hubby and I were just talking the other day about going to the Holy Land one of these days, too. I guess I should start saving some money.Texanbybirth wrote: ↑Tue Feb 13, 2018 10:40 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. [It's all a pipe dream right now anyway, but they say even planning a vacation is mentally beneficial.]
"A nickel ain't worth a dime anymore." Yogi Berra's financial wisdom.
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Re: What big item (>20k) are you saving up for?
A home down payment, accumulating in a high-yield savings. Looking to buy a long-term family home sometime during 2018.
Avid reader of personal finance/investing literature; however, no formal training in this area. My comments are always well-intended, and most often well-informed.
Re: What big item (>20k) are you saving up for?
I'm not saving up for that NOW...Jazztonight wrote: ↑Thu Feb 15, 2018 1:33 pmHowever, of my "bucket list" items that actually cost money, the first is a world cruise. DW and I have the date penciled-in: Jan. 2020. 111 days.
But I do intend to add a few extra months at the end of my career and use that money for a 7 week cruise (starts in Seattle, hits Alaska, Hawaii, South Pacific, New Zealand, ends up in Australia).
I may even work another 1-2 months to pay for first-class tickets home...