The Doctor’s Bill Follow Up: Puerto Rico, Here We Come?
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One of the most popular series in my blog is the “Doctor’s Bill, Can You Afford It?” posts where Johanna Fox Turner, of Fox & Company Wealth Management, and I analyze a viewers desired purchase and determine if it is financially sound, or not, to do so.
As a radiologist I often dictate studies and move on with very rare follow up from the ordering service (when it does happen it often makes my day to find out the impact my interpretation made).
So naturally I was curious, and thought my readers would be as well, on whether the submitter(s) followed the advice that Johanna and myself put out.
I therefore thought it would be nice to send out a questionnaire to those submitters who left a contact email (unfortunately not every submission disclosed an email address).
[For these particular submitters I would love to hear from you via my contact form and hopefully you can update us as well on your current state by using the same question format as below.]
For a refresher please check out the Original Doctor’s Bill Post.
Did you actually go through with spending on the item/experience you desired?
In a nutshell yes.
Since our last post 1 year ago we have managed to buy an apartment in PR at $190,000 at a 4.1% 30 year mortgage (mortgages are higher on the island).
We are planning to permanently move earlier than expected in Fall 2020.
We have no debt, $500K in retirement accounts and will begin our transition to new jobs on the island.
We are very grateful by the feedback provided by Johanna and the comments since it provided ample discussion between me and my wife.
Did the analysis Johanna or Xrayvsn have any influence on your ultimate decision?
Helped us clarify and discuss the different sticking points from Social Security, college to private school for future children.
We have been able to get greater awareness and information regarding our retirement planning and future projections if our plan does not go as planned.
What thing(s), if any, did Johanna get right about in her analysis? What things, if any, do you feel she got wrong?
Johanna was spot on!
She analyzed pros and cons of our situation specifically about childcare, college, and private tuition.
We have given relatively conservative estimates which Joanna has taken into account to give her Analysis.
What thing(s), if any, did Xrayvsn get right about in his analysis? What things, if any, do you feel he got wrong?
Xrayvsn also gave us great feedback.
He specifically discussed the possibility of maintaining our state medical licenses if our plan did not work.
We will definitely take this into account and maintain our state medical licenses for the time being.
If you did go through with spending money on your desired item/experience, were there any unexpected expenses or unexpected benefits that were not covered in the submission or analysis?
We are planning for our big move in fall of 2020.
No unexpected expenses so far.
We have the expected benefits of being closer to family.
Our home costs were lower than projected which has greatly helped our savings cushion for the time being.
Any regrets with your decision to spend or not on your desired item/experience?
Considering we have cleared our student loan debt and we have built a sufficient retirement cushion (Coast fire), we have no regrets with our decision.
If our plan does not was accordingly we may either do locum tenens stateside or move back.
Congratulations for achieving what you wanted ahead of schedule.
It does sound like you have a sound financial plan, as well as a backup plan, in place if something unexpected happens.
I hope this blog will still alive and kicking, but I would love to get continued updates on your story and how things turned out once you are settled in after the move next year.
I know a lot of my readers, myself included, have considered world geographic arbitrage as a potential retirement option, so this would be of immense value to hear what moving to another country actually does entail.
If you would like to submit your own Doctor’s Bill request please fill out the submission form.
If you are in search of financial help, please consider enlisting the service of any of the sponsors of this blog who I feel are part of the “good guys and gals of finance.”
Even a steadfast DIY’er can sometimes gain benefit from the occasional professional input.
NOTE: The website XRAYVSN contains affiliate links and thus receives compensation whenever a purchase through these links is made (at no further cost to you). As an Amazon Associate I earn from qualifying purchases. Although these proceeds help keep this site going they do not have any bearing on the reviews of any products I endorse which are from my own honest experiences. Thank you- XRAYVSN