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View Poll Results: $300k And You
I'm Doing Just Fine 8 6.56%
A Quarter Or Less 27 22.13%
Less Than Half 15 12.30%
Half 16 13.11%
More Than Half 6 4.92%
More Than Three Quarters 4 3.28%
All That Plus A Bag Of Chips 46 37.70%
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Old 03-18-2011, 08:57 PM   #181
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I'm 43, been retired for 3 years and loving it.
You have done well! Have fun getting your hands dirty fixing and restoring cars.
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Old 03-18-2011, 09:03 PM   #182
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You have done well! Have fun getting your hands dirty fixing and restoring cars.
And chasing my wife around the house! The kids are at school all day.
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Old 03-18-2011, 09:51 PM   #183
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Meadbh: Not sure what treadmill you think I'm on? Retired for almost 5 years and having a ball. Cheers.
Sorry Danmar, I know you are retired. Loop Lawyer is the one on the treadmill. When you were a bank executive, did you feel pressure to maintain a certain image, or had that level of spending become natural? I presume that, unless you were born with a silver spoon, your spending must have started out modestly and increased over the course of your career.

I think my personal spending in inflation adjusted dollars is lower now than it was in my 20s.
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Old 03-18-2011, 10:35 PM   #184
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It turns out that the $300K Lamborghini-bashing incident was more about a business dispute than a complaint about the car company. And it was a used car worth "only" about $80K:
The Other Side to the Lamborghini Story - The Wealth Report - WSJ

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But they are an infection risk, and the best way for an MD to dress while seeing patients is short sleeves (facilitating handwashing up to the elbows).
After spending a week hanging around a hospital, I learned to look for that white coat.

The guy in short sleeves was cleaning the rooms & mopping the corridors.
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Old 03-18-2011, 10:52 PM   #185
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After spending a week hanging around a hospital, I learned to look for that white coat.

The guy in short sleeves was cleaning the rooms & mopping the corridors.
That guy was practicing infection control.

According to this article: White coats may not carry an increased infection risk | Cambridge Medicine Journal
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a study carried out in Denver, Colorado has in fact concluded that white coats carry no more risk of infection than regularly laundered standardized short sleeve uniforms which would be seen as the gold standard for infection control.
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Old 03-18-2011, 11:08 PM   #186
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Maybe Loop Lawyer should have tried impressing his clients with a short sleeved shirt!
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Old 03-18-2011, 11:30 PM   #187
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Well, as the topic has drifted towards infection spread by unwashed hands, and I remembered reading something about this in the past about this subject, decided to look it up. Found this and this.

Following are some excerpts.
At the time, the Vienna Lying-In hospital had two maternity wards, one staffed by midwives, and the other by medical students supervised by staff physicians. The mortality rate among women attended by midwives was approximately 2-3%; however, the students’ ward had a rate of 10% or more. While hospital administrators blamed the high mortality rates on poverty, this could not explain the difference between the two wards. Instead, Semmelweiss believed that the students, who received much of their medical training in the autopsy room, were carrying infections from cadavers they dissected to the women in the ward...

More recently, Chang and associates traced an epidemic of yeast infection in a neonatal intensive care unit to the failure of some hospital staff members to wash their hands after playing with their pet dogs, who were carriers of the yeast (New England Journal of Medicine, 338(11), 706-711, 1998). Similarly, Moolenaar et al. suggested that an outbreak of a bloodstream infection in another neonatal ICU was due to bacteria carried under the long or artificial fingernails of some hospital nurses (Infection Control & Hospital Epidemiology, 21(2), 80-85, 2000)...



Many observational studies, mainly conducted in intensive care units, show low rates of hand washing, especially among doctors.4 Bartzokas et al observed that, despite frequent patient contacts, senior doctors washed their hands only twice during 21 hours of ward rounds.5 Though doctors spend less time than nurses in direct patient contact and may think that they need to decontaminate their hands less often, they have many transient contacts and move from ward to ward. The same is true for phlebotomists, physiotherapists, radiographers, and various technicians.

Self reporting overestimates compliance. After unobtrusive observation of doctors to obtain a baseline hand washing rate, Tibballs asked a sample to estimate their own hand washing rates before patient contact. Their perceived rate of 73% (range 50%-95%) contrasted sharply with the observed frequency of just 9%.6 Pritchard and Raper were astonished that “doctors can be so extraordinarily self-delusional about their behaviour.”
Oh, please doctors...
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Old 03-19-2011, 12:49 AM   #188
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We're baaad!

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Old 03-19-2011, 03:26 AM   #189
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Sorry Danmar, I know you are retired. Loop Lawyer is the one on the treadmill. When you were a bank executive, did you feel pressure to maintain a certain image, or had that level of spending become natural? I presume that, unless you were born with a silver spoon, your spending must have started out modestly and increased over the course of your career.

I think my personal spending in inflation adjusted dollars is lower now than it was in my 20s.
Did not have to be a big spender to impress my associates. Ostentation was not viewed as a advantage or a detriment. I probably would have been at the lower end of the spending scale. Yes, spending started lower then gradually increased as I earned and saved more. it really took off when I retired and realized I didn't have to LBYM any more. Also finalized my divorce which gave more certainty to my fixed and future expenses. I certainly was not born with the spoon.
Like many of you on this forum, I went to the equivalent of state schools( all degrees part time while working) and completely paid my own way. Because I attach a very high premium to education, and because it is more expensive now, I have paid for my daughter's education to the masters level. I would support her education further if that's what she wanted.
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Old 03-19-2011, 07:31 AM   #190
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<<Maybe you should recruit a couple of the top students from SR state. They could show some of your 300K boys how to get by in life without over-paying for everything, getting by on less, chasing status and maybe end up with a few bucks in savings at the end of the year.>>

Those of us who own the firm don't hire anyone to show us how to "get by in life" or "get by on less." We don't care to "get by" at all. We live very well, thank you. Could say more but will decline.

<<Besides any school you or your family attends [sic], does this also apply to your neighborhood, gym, country club, church, clothing store, and circle of friends. Just wondering when it would be appropriate for me to use.>>

No comment (here).
I think we have just decided on a different image that we want to display in life. I decided that to be financially comfortable and not flaunt it is a more tasteful approach. After reading your posts, I am very happy with my decision.
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Old 03-19-2011, 11:16 AM   #191
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I could spend 300k in one year but after that year I'd have everything I ever wanted. Don't know what I'd do the second year.
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Old 03-19-2011, 12:02 PM   #192
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Here you go Walt ! This condo is across from a beautiful beach and near a lot of nice restaurants .Plus easy access from Tampa airport .
Home for Sale at 1801 Gulf N Dr # 228 Bradenton Beach FL - Real Estate Listings - MLS #M5819328 - Realtor.com®
I can see something like this in my future.
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Old 03-19-2011, 12:50 PM   #193
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I did a similar exercise a few years ago where I tried to think of ways to spend $40,000 per year but it still ended up sounding somewhat construed. I couldn't do it. $300,000 would be another two doublings.

I'm sure it's possible to learn how. After all, it's also possible to learn how to spend less.
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Old 03-19-2011, 04:40 PM   #194
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Most definitely we could spend $300K per year and enjoy every penny of it. And I wouldn't feel a whit of guilt about it, because I imagine we would have worked hard for it.
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Old 03-19-2011, 04:43 PM   #195
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It would take some doing, but I could definitely retrain myself.
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Old 03-19-2011, 04:52 PM   #196
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Nah, spending money is easy. Haven't we read about how lottery winners blew through tens of million in just a few years? They spent way more than $300K/year effortlessly, my friends.
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Old 03-20-2011, 12:20 AM   #197
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Because I attach a very high premium to education, and because it is more expensive now, I have paid for my daughter's education to the masters level. I would support her education further if that's what she wanted.
I always worry about the affluenza and entitlement aspects of this. I wish I had a better answer for the situation, both with kids & grandkids.

I didn't pay for either of my degrees up front, but I paid for them afterward through indentured servitude...

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Nah, spending money is easy. Haven't we read about how lottery winners blew through tens of million in just a few years? They spent way more than $300K/year effortlessly, my friends.
I think the key is a large entourage.
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Old 03-20-2011, 12:36 AM   #198
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Nah, spending money is easy. Haven't we read about how lottery winners blew through tens of million in just a few years? They spent way more than $300K/year effortlessly, my friends.
Seems as much thoughtlessly as anything else. As ditsy as even I can be as a LBYMer, there isn't much I buy without consideration and research.
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Old 03-20-2011, 04:08 AM   #199
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Usually around $35 but most Doctors are so cheap they try to get them from the hospitals for free !
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Old 03-20-2011, 05:04 AM   #200
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I think I could live in scrubs all day, and I've never worked in the medical field. Man, those are comfortable.
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