New car out of residency

[Tulaner]

I agree with everything Section31 said about FFP. Does that guy actually work for a living? Or is he just this board’s resident succubus?

The fact is, you need a bully to stand up to a bully. Section31 may not be the hero we asked for, but he’s the hero we need.

FFP should be banned.

I also think FFP should be banned. I certainly do not value his opinion.

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[Gastrapathy]

I'm looking to replace my residency beater car (I'm not even going to say what it is because it's so embarrassing) and recently spent a day reading what felt like every online review, forum post, etc about the Range Rover bc it's always been my dream car....but yeah, I agree. Think I'm going to go with a 4-runner instead.

The Range Rover can be fully depreciated quickly due to the weight for a business (that’s why u see so many PP docs driving it)

 

[GravelRider]

I also think FFP should be banned. I certainly do not value his opinion.

Triggered?

 

[Tulaner]

Absolutely! And if the money runs out before you die, just kill yourself.

I completely understand "seize the day", but wishful thinking has a strong tendency of getting people in trouble, sooner or later.

You should be ashamed for this. The man (or woman, I suppose) lost his/her brother and then you mention suicide as a response?

And that entire second paragraph was added in later as an edit to dull the callousness of your original response.

If you talked to one of my patients that way, I’d report you to the state board.

 

[Psai]

You should be ashamed for this. The man (or woman, I suppose) lost his/her brother and then you mention suicide as a response?

And that entire second paragraph was added in later as an edit to dull the callousness of your original response.

If you talked to one of my patients that way, I’d report you to the state board.

Get over yourself and stop ruining our threads

 

[Neopolymath]

Life is too short to drive ****ty,appliance cars. Some people in this subforum would drive a kia if they had $10 million liquid right now. It seems to come up every 6 months. That in and of itself isn't a problem, but no one else is stupid for buying a car that doesn't suck if they can afford it. They just decided that was important to them. I swear to god this place is filled with people who would pick up a quarter off a busy train track.

But, also, I'm biased toward @pgg because I rock an e46 m3 these days

 

[d9sccr]

The Range Rover can be fully depreciated quickly due to the weight for a business (that’s why u see so many PP docs driving it)

Can you talk about this more? I'm currently in the position to do this but don't fully understand it or the tax implications of doing so. Also, any vehicle w/ a gross curb weight of >6000 lbs counts, so anything larger than entry level SUV appears to satisfy this condition in the luxury lines as far as I can tell

 

[GravelRider]

Life is too short to drive ****ty,appliance cars. Some people in this subforum would drive a kia if they had $10 million liquid right now. It seems to come up every 6 months. That in and of itself isn't a problem, but no one else is stupid for buying a car that doesn't suck if they can afford it. They just decided that was important to them. I swear to god this place is filled with people who would pick up a quarter off a busy train track.

But, also, I'm biased toward @pgg because I rock an e46 m3 these days

I haven’t driven one, but the Kia Stinger doesn’t seem like a bad little car. The Koreans have come a long way from the **** boxes of the 90s.

 

[Southpaw]

People get so bent during car discussions. It's almost like you're insulting their own mother when you say they either should spend 80k on a car, or they shouldn't. The discussion can be stimulating at times, but on the whole it gets boring quickly. Internet forums also tend to attract folks with negative feelings, no different than those who leave reviews. The happy folks are out enjoying their product and their 80k cars. They're not wasting time and energy dishing dirt online.

Talk of banning @FFP is useless. He's an extremely smart poster and he's honest. Some of the folks out there gettin' all butt hurt about his posts can do a very simple thing to alleviate their displeasure - ignore him.

 

[deleted171991]

How Much Money Will You Take to Your Grave? - Physician on FIRE

I still think that there are better values than Tesla, and that a physician should accumulate a safety cushion for his family before starting to splurge.

I had posted earlier that I am also for banning me, and it wasn't sarcasm (I deleted the post before some SJW accuses me that I am making fun of #MeToo). You would do me a favor. I have been spending a bit too much time here lately, and I'd rather do better things (I have a long list of good books waiting for me). To those who wonder, I work less than the 50-60 hours the average anesthesiologist works (by choice), hence I have more time on my hands. I am also narcissistic enough to enjoy teaching and mentoring others, hence I give too much unsolicited advice. No good deed goes unpunished; that's what I want for my epitaph.

Speaking of SJW, this week's good news was the study that 80% of Americans think our PC is a problem, that people who like PC are a small but very vocal minority, with a big media megaphone.

 

[DocVapor]

It's a little off topic, but for those that enjoy performance cars and motorsports racing, The Petit Le Mans at Road Atlanta is just getting started. You can watch it on FS1.

 

[Neopolymath]

It's a little off topic, but for those that enjoy performance cars and motorsports racing, The Petit Le Mans at Road Atlanta is just getting started. You can watch it on FS1.

I highly recommend that you go in person at least once. In fact, I will be there later this afternoon. It's a lot of fun.

 

[DocVapor]

I highly recommend that you go in person at least once. In fact, I will be there later this afternoon. It's a lot of fun.

Absolutely! I was actually involved in this series back when Grand-Am and American Le Mans Series were separate, so I didn't have the opportunity to make it to the actual PLM. My team did compete in the support level races at the 24 hrs of Daytona however, and being there for that is an absolute blast. However the first race I ever actually won (amateur level, of course) was at Road Atlanta, and I absolutely love the track. It's right behind VIR as my all time favorites.

One day I'll make it to the real PLM and true 24 hrs of Le Mans (maybe even same year!).

 

[Neopolymath]

Absolutely! I was actually involved in this series back when Grand-Am and American Le Mans Series were separate, so I didn't have the opportunity to make it to the actual PLM. My team did compete in the support level races at the 24 hrs of Daytona however, and being there for that is an absolute blast. However the first race I ever actually won (amateur level, of course) was at Road Atlanta, and I absolutely love the track. It's right behind VIR as my all time favorites.

One day I'll make it to the real PLM and true 24 hrs of Le Mans (maybe even same year!).

That's so awesome! I have been lucky enough to have easy access to RA, but have never been to VIR. Tentatively planning to do a PCA event up there with my father next fall. Obviously, it's not the same as true racing, but it's been a really easy way to get some time in.

 

[DocVapor]

That's so awesome! I have been lucky enough to have easy access to RA, but have never been to VIR. Tentatively planning to do a PCA event up there with my father next fall. Obviously, it's not the same as true racing, but it's been a really easy way to get some time in.

Excellent! Yes, it's not real racing, but it's always a fantastic time. Much of the time when you're driving but not racing you get to just focus on yourself, the car, and the track, and really take in every single detail and learn how to get the best out of your car. I'm sure you'll love VIR, no matter which course you'll be driving on.

 

[Gastrapathy]

Can you talk about this more? I'm currently in the position to do this but don't fully understand it or the tax implications of doing so. Also, any vehicle w/ a gross curb weight of >6000 lbs counts, so anything larger than entry level SUV appears to satisfy this condition in the luxury lines as far as I can tell

I can’t really but apparently the Range Rover dealers have it all set up. You probably could go to the dealer and have them explain it and then buy something else if you wanted.

 

[sevoflurane]

RR qualifies. Best used in a 1099 setup.

 

[deleted50478]

I agree with everything Section31 said about FFP. Does that guy actually work for a living? Or is he just this board’s resident succubus?

The fact is, you need a bully to stand up to a bully. Section31 may not be the hero we asked for, but he’s the hero we need.

FFP should be banned.

I think you mean this board’s resident Casandra not succubus.

 

[Twiggidy]

I'm looking to replace my residency beater car (I'm not even going to say what it is because it's so embarrassing) and recently spent a day reading what felt like every online review, forum post, etc about the Range Rover bc it's always been my dream car....but yeah, I agree. Think I'm going to go with a 4-runner instead.

It's my dream SUV also but I just don't have the time to deal with it. It's a shame too because it would be a no-brainer if they were just a bit more reliable.

 

[Twiggidy]

It's a little off topic, but for those that enjoy performance cars and motorsports racing, The Petit Le Mans at Road Atlanta is just getting started. You can watch it on FS1.

I do enjoy a good car race Trying to find my way to an F1 stop sometime before I die

 

[Mman]

People get so bent during car discussions. It's almost like you're insulting their own mother when you say they either should spend 80k on a car, or they shouldn't. The discussion can be stimulating at times, but on the whole it gets boring quickly. Internet forums also tend to attract folks with negative feelings, no different than those who leave reviews. The happy folks are out enjoying their product and their 80k cars. They're not wasting time and energy dishing dirt online.

Talk of banning @FFP is useless. He's an extremely smart poster and he's honest. Some of the folks out there gettin' all butt hurt about his posts can do a very simple thing to alleviate their displeasure - ignore him.

I agree. I don't care what anybody spends on their car. Just understand how much money and future money it is costing you. Every $ spent at age 30 or 40 is multiples of that at retirement age. But if you want to do it. Personally my goal is to maximize my lifetime spend so it is in my interest to save more at a young age so I can spend exponentially more later in life. But I certainly don't live like a pauper.

 

[2Fast2Des]

I agree. I don't care what anybody spends on their car. Just understand how much money and future money it is costing you. Every $ spent at age 30 or 40 is multiples of that at retirement age. But if you want to do it. Personally my goal is to maximize my lifetime spend so it is in my interest to save more at a young age so I can spend exponentially more later in life. But I certainly don't live like a pauper.

But what good is dying rich if you loved poorly? I'd rather have and experience nice things instead of unable when I'm rich, arthritic and senile. Or maybe all that wealth will get funneled into keeping me alive as health insurance will have collapsed by that time haha

 

[DirtDocMD]

But what good is dying rich if you loved poorly? I'd rather have and experience nice things instead of unable when I'm rich, arthritic and senile. Or maybe all that wealth will get funneled into keeping me alive as health insurance will have collapsed by that time haha

Do it!! Buy the $80k Tesla. Put a hitch on it and get a $75k boat to pull behind it!!! Tell your wife to go get an $80k Lancruiser while you’re at it, because she’ll expect to “YOLO”, too!!

Seriously, do what you want. I’m not telling you to live in a shack and drive a Hyundai, but when you get $500k-$1mil in hoc, and really don’t like the way things are going at work, and can’t leave because of debt/responsibilities, you might regret it. Just make sure you have ACTUAL FU money laying around to buy your freedom. Don’t be a “slave” to “stuff”...

 

[Mman]

But what good is dying rich if you loved poorly? I'd rather have and experience nice things instead of unable when I'm rich, arthritic and senile. Or maybe all that wealth will get funneled into keeping me alive as health insurance will have collapsed by that time haha

I didn't say I wasn't spending money until I was 85 years old. I experience plenty of nice things. I've travelled around the world flying first class and staying in 5 star hotels at the fanciest locations you can find. Spending money on experiences has a far greater return in happiness than spending it on things.

 

[d9sccr]

I can’t really but apparently the Range Rover dealers have it all set up. You probably could go to the dealer and have them explain it and then buy something else if you wanted.

I think this may be what you're referring to:

Tax Rules For Buying A SUV Or Truck To Deduct As A Business Expense

According to this website, you can write-off 95% over 4 years assuming a very high business use of the vehicle. This is my first time going through this whole gambit, but what does it mean to "write-off"? If you "write-off" $25k in a given year, is that an even $25k deduction in taxes owed?

 

[2Fast2Des]

I didn't say I wasn't spending money until I was 85 years old. I experience plenty of nice things. I've travelled around the world flying first class and staying in 5 star hotels at the fanciest locations you can find. Spending money on experiences has a far greater return in happiness than spending it on things.

Sorry, didn't mean to make it come across like that. Yeah my family is a budget oriented and live below means type. But we do like to have occasional nice things and travel as much as possible as well. I think as long as we have our FU account full and everything budget and saved accordingly we can feel more open to being financially liberal.

 

[2Fast2Des]

Do it!! Buy the $80k Tesla. Put a hitch on it and get a $75k boat to pull behind it!!! Tell your wife to go get an $80k Lancruiser while you’re at it, because she’ll expect to “YOLO”, too!!

Seriously, do what you want. I’m not telling you to live in a shack and drive a Hyundai, but when you get $500k-$1mil in hoc, and really don’t like the way things are going at work, and can’t leave because of debt/responsibilities, you might regret it. Just make sure you have ACTUAL FU money laying around to buy your freedom. Don’t be a “slave” to “stuff”...

Sorry, didn't mean to make it come across like that. Yeah my family is a budget oriented and live below means type. But we do like to have occasional nice things and travel as much as possible as well. I think as long as we have our FU account full and everything budget and saved accordingly we can feel more open to being financially liberal.

 

[pgg]

I think this may be what you're referring to:

Tax Rules For Buying A SUV Or Truck To Deduct As A Business Expense

According to this website, you can write-off 95% over 4 years assuming a very high business use of the vehicle. This is my first time going through this whole gambit, but what does it mean to "write-off"? If you "write-off" $25k in a given year, is that an even $25k deduction in taxes owed?

No, a "write-off" is not a "tax credit" ... actual tax credits are identified as tax credits (which may or may not be refundable in excess of your tax liability for the year).

A tax write-off is a deduction from your taxable income. If your marginal rate is 39% then the actual tax savings for that $25K write-off may be more like $10K.

I say "may be" because a business related expense from 1099 income is different than from W-2 income. It's been a while since I looked closely but I think deductions from W-2 income need to exceed 2% of your AGI before they're deductable at all.

It should be obvious that it's never wise to spend $25K to "save" $10K. But if you were going to spend that $25K anyway, the $10K tax savings is definitely worthwhile. The problem I think people run into is in justifying unnecessary purchases by rationalizing them as tax write-offs, which they don't really understand.

 

[Twiggidy]

Sorry, didn't mean to make it come across like that. Yeah my family is a budget oriented and live below means type. But we do like to have occasional nice things and travel as much as possible as well. I think as long as we have our FU account full and everything budget and saved accordingly we can feel more open to being financially liberal.

I think the moral is that different things bring different people happiness and given that non of us on here are near the poverty line, we should enjoy our lives as we please. Yes, this is the internet and people will be hypercritical of our Porsches, gun stashes, or trips around the world but it all doesn't matter unless YOU are happy. I'm not hugely fond of my job so when I walk out everyday I need something to look at to make me think it's worth it. All of us are probably on the right track as long as we have 1 mortgage and 1 marriage (no offense to divorcees but they'd probably agree)

 

[hankbb02]

People get so bent during car discussions. It's almost like you're insulting their own mother when you say they either should spend 80k on a car, or they shouldn't. The discussion can be stimulating at times, but on the whole it gets boring quickly. Internet forums also tend to attract folks with negative feelings, no different than those who leave reviews. The happy folks are out enjoying their product and their 80k cars. They're not wasting time and energy dishing dirt online.

Talk of banning @FFP is useless. He's an extremely smart poster and he's honest. Some of the folks out there gettin' all butt hurt about his posts can do a very simple thing to alleviate their displeasure - ignore him.

Thank you for pointing out that you can ignore posters. I didn't know this and I now look forward to cutting out the negativity that often makes this board almost unreadable.

 

[deleted171991]

Thank you for pointing out that you can ignore posters. I didn't know this and I now look forward to cutting out the negativity that often makes this board almost unreadable.

One-click patent-pending "Ignore FFP".

Btw, this is the problem with our country: everybody just ignores and despises everybody they don't agree with, instead of trying to see the world through their eyes, walking in their shoes for a mile etc.

 

[Psai]

Thank you for pointing out that you can ignore posters. I didn't know this and I now look forward to cutting out the negativity that often makes this board almost unreadable.

Agree, when I see things in real life that I disagree with I try to pretend they don't exist.

 

[deleted171991]

Do it!! Buy the $80k Tesla. Put a hitch on it and get a $75k boat to pull behind it!!! Tell your wife to go get an $80k Lancruiser while you’re at it, because she’ll expect to “YOLO”, too!!

Seriously, do what you want. I’m not telling you to live in a shack and drive a Hyundai, but when you get $500k-$1mil in hoc, and really don’t like the way things are going at work, and can’t leave because of debt/responsibilities, you might regret it. Just make sure you have ACTUAL FU money laying around to buy your freedom. Don’t be a “slave” to “stuff”...

 

[hankbb02]

Agree, when I see things in real life that I disagree with I try to pretend they don't exist.

Thanks for making it easy on me.

 

[BLADEMDA]

Quite a thread so far. Personally, I don't have that much of an opinion about which car to buy. I've owned most manufacturers and many cars. I don't regret the purchases because I enjoyed the experience.

My most reliable car was a Toyota or older Honda Accord. Both were very reliable. My Lexus vehicles have all been reliable. My Acuras and Hondas almost as reliable as the Toyota/Lexus. Nissan not too shabby but Mazda the least reliable of my Japanese brands.

I enjoyed driving BMWs the most but the cost of ownership was fairly high. Mercedes had a lot of class and was enjoyable but seemed to have small issues frequently.

These days I prefer reliability over German handling because I don't like dealing with repair issues. Besides the cost there is a hassle factor.

If the OP wants a Tesla go buy a Tesla. But, will those batteries really hold a charge for 10 years? Will the quality hold up (I hate rattles, loose parts, etc)?

If I was going to spend $70k on a car I'd get a 1-3 year old BMW or AMG Mercedes vs a high end Lexus Sport model.

May I suggest an Infiniti sport Sedan? Not quite a BMW but close.

These days I'm happy driving a Lexus or a Honda or Hyundai Genesis. I just don't care as much as I used to.

As far as tax deductions for an SUV I'd buy the X5 over the Range Rover (that's just me).

Whatever you decide to buy try to keep it for at least 5 years. The depreciation on most vehicles is very steep the first few years. I'd recommend you even keep the vehicle as an extra one if it's reliable and you have use for it. Otherwise, sell it to a family member at a good price (it's a nice gesture to those you care about it).

Not everyone wants "FIRE" but those that do can buy a 2-4 year Honda Accord, Camry or Altima quite cheaply (on an attending salary) and rack up 200,000 miles plus.

For the rest who just want to cut back at say age 60 there is likely ample room in the budget for a nice ride. Go enjoy yourself.

 

[nimbus]

I didn't say I wasn't spending money until I was 85 years old. I experience plenty of nice things. I've travelled around the world flying first class and staying in 5 star hotels at the fanciest locations you can find. Spending money on experiences has a far greater return in happiness than spending it on things.

That is a value judgement that not everybody shares. Long distance travel just leaves me exhausted and jetlagged, even at 5 star hotels. When I return home I need a few days of solid work routine to help me recover from “vacation”. Some people have the travel bug, have been to all 7 continents, drink ayahuasca with Peruvian shaman, trek in Nepal and safari in Tanzania. Some people have the car bug, track their cars and love a perfect rev matched downshift behind their ears. FIRE types are happy grilling groceries from Walmart in their back yard. Thankfully we live in an open society where we get to decide what makes us happy.

 

[anesthesiologyperson21]

That is a value judgement that not everybody shares. Long distance travel just leaves me exhausted and jetlagged, even at 5 star hotels. When I return home I need a few days of solid work routine to help me recover from “vacation”. Some people have the travel bug, have been to all 7 continents, drink ayahuasca with Peruvian shaman, trek in Nepal and safari in Tanzania. Some people have the car bug, track their cars and love a perfect rev matched downshift behind their ears. FIRE types are happy grilling groceries from Walmart in their back yard. Thankfully we live in an open society where we get to decide what makes us happy.

This

 

[caligas]

I'm looking to replace my residency beater car (I'm not even going to say what it is because it's so embarrassing) and recently spent a day reading what felt like every online review, forum post, etc about the Range Rover bc it's always been my dream car....but yeah, I agree. Think I'm going to go with a 4-runner instead.

Well, with Rovers, some people just don’t get it.

 

[caligas]

Yup. That's what I'm currently driving, and it's more fun than you should be allowed to have for 27K. I went for the base model 'cuz I wanted the plaid interior. Ya, an M3/4 is faster, but not 3x as fast. Plus I can fit 4 full size adult humans in it comfortably, and even can truck around my family of 5 in a pinch.

Hmmm. Wasn’t on my radar but intriguing. Also, seems they include a 6 year/72k bumper to bumper now.

 

[Mman]

That is a value judgement that not everybody shares. Long distance travel just leaves me exhausted and jetlagged, even at 5 star hotels. When I return home I need a few days of solid work routine to help me recover from “vacation”. Some people have the travel bug, have been to all 7 continents, drink ayahuasca with Peruvian shaman, trek in Nepal and safari in Tanzania. Some people have the car bug, track their cars and love a perfect rev matched downshift behind their ears. FIRE types are happy grilling groceries from Walmart in their back yard. Thankfully we live in an open society where we get to decide what makes us happy.

I didn't say travel was the thing for everybody, just that there is a lot of evidence that experiences lead to more happiness than buying nice stuff.

 

[deleted171991]

I didn't say travel was the thing for everybody, just that there is a lot of evidence that experiences lead to more happiness than buying nice stuff.

I used to disagree. Twenty years later, I know that we will remember a nice trip much more than a nice TV (and I too hate long travel).

 

[Mman]

I used to disagree. Twenty years later, I know that we will remember a nice trip much more than a nice TV (and I too hate long travel).

Psychologically we rapidly acclimate to fancier stuff and it brings no more joy long term than whatever it replaced. In essence the "new car smell" wears off pretty quick. But trips or experiences provide life long memories and it's almost as if you re-experience the joy when you reminisce about it. Anecdotally I can sure remember things like a trip to Disney World as a child a lot more than I remember whatever toy I got for my birthday that year.

 

[pgg]

We're splitting hairs here. Stuff can contribute to experiences. I don't know why people think driving a nice car isn't an experience.

I own some expensive rifles. My "experience" at various events would be very different without them. And the neat thing is, they're durable goods that I own and can "experience" repeatedly.

 

[ZzzPlz]

We're splitting hairs here. Stuff can contribute to experiences. I don't know why people think driving a nice car isn't an experience.

I own some expensive rifles. My "experience" at various events would be very different without them. And the neat thing is, they're durable goods that I own and can "experience" repeatedly.

Agree, but comparing rifles to cars is apples and oranges. I’d argue that there is minimum depreciation with firearms if well maintained, and if held long enough resale can be profitable in many cases

 

[Twiggidy]

I think even "experiencing" cars only last so long. Most of us can probably test drive a Ferrari this weekend and experience what it feels like to drive a supercar but I'll agree that memory will probably only last so long versus the memory of swimming in the Calanques or going to an F1 race at Silverstone. As said above, I remember a trip to Germany when I was a kid much more vivid than what I got for birthdays or Christmas during those same year.

Except my first Nintendo....I totally remember getting that. It was the system that had the robot. That thing was money.

 

[d9sccr]

I think even "experiencing" cars only last so long. Most of us can probably test drive a Ferrari this weekend and experience what it feels like to drive a supercar but I'll agree that memory will probably only last so long versus the memory of swimming in the Calanques or going to an F1 race at Silverstone. As said above, I remember a trip to Germany when I was a kid much more vivid than what I got for birthdays or Christmas during those same year.

Except my first Nintendo....I totally remember getting that. It was the system that had the robot. That thing was money.

Might I suggest you needed better present “experiences” then haha

 

[abolt18]

I think even "experiencing" cars only last so long. Most of us can probably test drive a Ferrari this weekend and experience what it feels like to drive a supercar but I'll agree that memory will probably only last so long versus the memory of swimming in the Calanques or going to an F1 race at Silverstone. As said above, I remember a trip to Germany when I was a kid much more vivid than what I got for birthdays or Christmas during those same year.

Except my first Nintendo....I totally remember getting that. It was the system that had the robot. That thing was money.

You know what les calanques are? I don't think I've met anyone else who's been there outside of myself and a few friends I've recommended go there when they visit France. (you are talking France, just outside of Marseille correct?)

 

[Twiggidy]

You know what les calanques are? I don't think I've met anyone else who's been there outside of myself and a few friends I've recommended go there when they visit France. (you are talking France, just outside of Marseille correct?)

Oh yeah....found one of the few boat trips where they let you jump off and swim.

 

[abolt18]

Oh yeah....found one of the few boat trips where they let you jump off and swim.
View attachment 240932

C'est magnifique !

 

[Twiggidy]

C'est magnifique !

Tres tres magnifique