Will obgyn65 meet his goal ?

[obgyn65]

Well I have already paid my monthly assessment and credit card. So the two biggest monthly costs to me are paid already for the month. Gave cash to a mother with 3 kids whose husband is being deported. The rest, I guess, is the phone bill and food. I will be under $2,500 for the month.

Think again! Today is January 14th, which is only 2 weeks into the year. You have spent $2000. Your spending is at a rate of $1000/week. There are 52 weeks in the year, so at this rate you will spend $52,000 this year. So far, you have succeeded in meeting your goal. Relax!

 

[obgyn65]

Thank you, Meadbh, for your kind and thoughtful comments - as always. All your points are all taken.

First of all, if you are like most of us, expenses are not smoothly distributed throughout the month, so 14 days is too small a sample.

Second, nobody should feel obliged to spend money every week just for the sake of meeting some arbitrary number. Things might look very different to you in April when you suddenly get an idea for a vacation you would like to take, and your spending, prorated for 4 months, tells you that you can do it with a clear conscience.

Third, it may not be a bad thing to underspend your planned SWR if, as you do, a person does not have growth assets in his/her portfolio.

Fourth, assuming that inflation does not eliminate this problem over time, and if your chronic underspending is becoming a burden to you, there are countless charitable organizations who will be only too happy to liberate you from your excess wealth. You might even get tax deductions.

Seriously, I wouldn't worry about being LBYM. We all are to some extent. I had a surplus of $15K from what I allocated to personal expenses in 2012 and last week I used it to pay down debt on investment property, thereby shortening the amortization, and the wait for it to become an income stream, by 3 years. I also dumped $5500 of 2013's expenses into my TFSA (like a Roth) so I've already "spent" a bundle this year....except that I haven't really spent it, just moved money around.

 

[obgyn65]

Because I am afraid of having a selfish life. Maybe it's my turn to have a mid life crisis . I see so much poverty around me and in third world countries, I am embarrassed sometimes of my/our standard of living here while so many have so little.

Then why force yourself to spend more? Sounds like a waste.

 

[obgyn65]

Sorry if you feel that way about my thread, steelyman.

... just when I thought threads couldn't get more ridiculous.

)

 

[obgyn65]

The last thing you want is to 'play'. You never think of this when doing paps or trying to find the right comforting words for a patient who just found out she has breast cancer for example. Be very careful what you wish for.

He's already 'playing doctor', so maybe he should move on to the second thing...

 

[obgyn65]

Yes, done that too. Maybe I should increase my trips or at least fly business class sometimes, especially to Europe.

Travel...Some Trips overseas will have you fill your budget in no time.

 

[obgyn65]

I have been thinking of adopting a child. Have not told my girlfriend yet. You first heard about it here...

Adopt a couple of local charities and work with them to spend your money. Help some kids go to college. Sounds like a great way to spend money and feel great. On the practical side, you can scale the donations to fit within your current budget because they will be mostly discretionary if you don't commit too heavily.

 

[obgyn65]

I can't believe I just shared this very personal info on a public board. But it does feels like we are among friends.

I have been thinking of adopting a child. Have not told my girlfriend yet. You first heard about it here...

 

[Aiming_4_55]

I have been thinking of adopting a child. Have not told my girlfriend yet. You first heard about it here...

My DW and I adopted a 2 year old boy a few years ago. It's a wonderful gift for the child and yourself. Be prepared to spend more money if that's what you want to do ;-) Well worth it, in our case. YMMV

 

[pletal]

What is the one thing you fantacized about having when you were a kid? Now go buy it.

I did yesterday. Went out an spent 4k on a bicycle. Guess it going to be an expensive year! Does anyone have an idea about saving money thru the year? Lets say on Jan 1 my goal is to save 75k for the year. Do I spend anything above that? Any comments wold be great, Thanks

 

[FIRE2016]

Are you married?

My wife helps me to overcome that kind of problems. God bless her!

 

[LakeTravis]

I have been thinking of adopting a child. Have not told my girlfriend yet. You first heard about it here...

Now that is an absolutely fitting idea.

 

[REWahoo]

Now that is an absolutely fitting idea.

Yep. What could possibly go wrong?

 

[REWahoo]

The last thing you want is to 'play'. You never think of this when doing paps or trying to find the right comforting words for a patient who just found out she has breast cancer for example. Be very careful what you wish for.

If you'd like some help figuring out that strange whooshing sound going over your head, Google "kids playing doctor".

 

[obgyn65]

I would be most grateful to you if you could please remain focused on the main topic of this thread. Thank you in advance.

If you'd like some help figuring out that strange whooshing sound going over your head, Google "kids playing doctor".

 

[REWahoo]

I would be most grateful to you if you could please remain focused on the main topic of this thread. Thank you in advance.

OK. Maybe spend some money on a sense of humor implant.

 

[pb4uski]

How about an occasional splurge for things that will make your life easier, more convenient and more enjoyable. Or girlfriend's life easier, more convenient and more enjoyable (which will have a second order effect of making your life more enjoyable).

Like your mention of flying business class when you go to Europe. Personally, after flying to Europe in coach when I was "poor" and flying business and first class as an international consultant, there is no flipping way I would ever again fly to Europe in coach.

Or for your next mission visit, you could sponsor a well, gravity lights or something else that the community you are helping desperately needs.

 

[eytonxav]

You sound like a candidate for the Secret Millionaire. The world would be a better place if there were more like you. That said, why obsess over a goal, just do what makes you happy, no need to overthink things.

 

[explanade]

What is the goal about?

Too much money beyond living expenses?

Wanting to help others?

 

[MichaelB]

But I just can't seem to be able to spend on myself. I don't really want anything more than what I have now - that's the simple truth.

Perhaps you need to understand better those thoughts. A top rated psychoanalyst in Chicago could help explore that, and at two weekly sessions @$250 or so, contribute to the the original goal.

 

[Sarah in SC]

I would be most grateful to you if you could please remain focused on the main topic of this thread. Thank you in advance.

Definitely Dale Carnegie, if not the sense of humor implant.

 

[ERD50]

Get a girlfriend. You'll be burning cash in no time at all.

I already have one but she is very independent and would not take any money from me.

The answer is so simple - two girlfriends! Find one that wears lots of jewelry.

And in case you aren't catching on, if that doesn't have you spending enough money.... n+1 girlfriends until you reach your 'goal'.

If only all of life's problems had such simple solutions...


-ERD50

 

[omni550]

My goal is to spend $50,000 this year for personal expenses. I can afford this, as my spreadsheet says I can spend two or even three times as much, even if I FIREd today. Will keep people informed of my progress under this thread.

So far, I failed in January. It looks like I have spent only $2,000 so far. As mentioned in other threads, I have no problem giving some cash for projects helping others here and abroad, such as supporting free clinics, sending kids clothes to third world countries, or sending meds. But I just can't seem to be able to spend on myself. I don't really want anything more than what I have now - that's the simple truth.

obgyn,

There's nothing wrong with underachieving on a goal to spend. We are, after all, for the most part a community with a LBYM mindset.

There have been many suggestions here. Some of which might have some appeal to you.

You've even mentioned adopting a child. You may want to weigh this against your desire to travel doing medical mission work. Unless you plan to home school, a child needs to go to school which usually keeps them rooted in one place.

And as far as the underspending issue. I'd suggest setting those monies aside in savings, and sooner or later you'll come up with perfect-for-you ways to spend that fulfill your desire to help others.

omni

 

[Alan]

Like your mention of flying business class when you go to Europe. Personally, after flying to Europe in coach when I was "poor" and flying business and first class as an international consultant, there is no flipping way I would ever again fly to Europe in coach.

+1

I convinced DW that this year we should fly Business Class to Europe, but she came back with even better idea - take a slow boat instead a fast airplane, we are retired.

We just booked onto the Queen Elizabeth on the Cunard Line from New York to Southampton for $709 each, plus it is 8 days accomodation with all food and entertainment included. At that price I'm wondering if the porthole pictured in our cabin is really a hole through which the oar goes.

 

[NW-Bound]

I would be particularly leery if the cabin has two port holes, for his and her oars. As it is, it would be your DW's responsibility to man the single oar as she arranged the deal.