Rent vs. Own For Travelers
A popular debate in the U.S. right now is whether to rent or to own your home. There is much advice and speculation on the Internet as to what is the right thing to do. Every situation is different and what works for one person/family might not work for another. Here we will attempt to share our opinion on what works if you like to travel a lot.
In 2005, Sara and I sold our home to buy a new home which was under construction. During that period where we were living in an apartment, I became obsessed with the housing market and what I began to think might be a housing bubble. After extensive research, we decided to not go through with our new home purchase and just rent for a few years to see what would happen. Long story short, we guessed correctly and sat out of one of the worst housing value declines in U.S. history.
Since then, we have periodically looked at houses to purchase, but we have remained renters. To us, the pros of renting far outweigh the cons. We found that there was an internal tug when we owned our home to constantly upgrade things and make them nicer. New bathroom, counter tops (Granite for everyone!), flooring, etc. have a certain appeal. This conflicted dramatically with our frugal/minimalist nature. As a renter, we do not feel this tug. We still want to live in a nice place, but there is a limit to feeling like we need to “make it our own”.
Ownership
It is nice to own something, so you get to call all the shots. You can paint the walls whatever color you like, you can buy just the right furniture for each room. You can get to know the neighborhood and all of the neighbors. As a renter, you, for the most part, take what you get. You are never viewed by the neighbors as “one of them”, but as a transient who will come and go from their lives and probably not be remembered by many in a few years.
As a homeowner, what happens if your roof leaks? You call the repairman and pay, pay, pay. As a renter, you call your landlord and he takes care of it. Worst case, you move. In fact, any major disaster is met with the same mentality. The house burned down (a very real possibility in San Diego): Is the family safe? Yes, well, I guess that $20 per month I paid for renter’s insurance is going to buy us some new stuff. Go find a new house to rent and don’t worry about dealing with rebuilding.
Taxes
One of the biggest arguments to owning your own home is the incredible tax break that Uncle Sam gives you for owning: You get to deduct all of your interest from your income each year and pay taxes on the remainder. I have always found this amusing because it is one of those arguments that looks good on the surface, but when you start to evaluate it, it might not make as much sense.
Quickly, let’s look at an example. Let’s say you want to buy a $300,000 house. You will need to put down $60,000 as a down payment. Now that is money that is tied up and cannot be used for anything else. If your house goes down in value, that is the part that goes down first. You will still owe the bank $240,000. The normal interest rate these days is an amazing 4.5%, so your payment on a 30-year loan is $1216 per month. That is not the important part in this argument (you will need to look at comparable rent for this to be relevant). The important part is the interest. In year 1, you will pay $10,721 in interest. You can also deduct some taxes, but I do not want to get too confusing here and I am not an accountant. So, look at that, you get to knock $10,721 off of your income in year 1…awesome!! Except, as a renter last year, Sara and I took the Standard Deduction on our taxes. This is the deduction that Uncle Sam gives us non-homeowners who cannot come up with enough itemized deductions each year. What was our Standard Deduction last year? $11,400. Oops. And I didn’t have to pay any property taxes, homeowner’s fees, or fix anything that broke. Now, as I said each situation is different and the more expensive the house, the more you get to deduct, but as a sole argument, it doesn’t quite wash. Also, keep in mind that at the end of year 1, you still owe over $236,000 on your $240,000 loan.
Freedom
I think the biggest advantage, though, is the fact that Sara and I both thrive on ‘change’. We like things to be different from time to time. I have known Sara now for 11 years and in that time we have lived together in seven houses. We stayed for three years in one because Sara was pregnant and we just did not feel like moving with all of the baby gear. When you own your home, it is much more difficult to move. As a renter, when the lease is up, you are free. As an owner, the mortgage is always weighing on your mind. Yes, there is a mythical date 30 years in the future when you’ll be free, too, but in the meantime, you’d better not move or refinance, because guess what? That 30-year clock resets to Day 1.
Some people like the security of owning their home. They feel safe knowing that they always have a place to come home to. I can understand that, but I find that I feel safer knowing that with fairly short notice, I am free to make a change to my lifestyle. If I need to relocate for a job, I have the whole world as a option. I am not tied to a house. If I need to put my child in a better school, I’ll just find a house in that area and rent.
Travel
Please keep in mind that this whole argument is for those who like to travel and the best illustration that I can give is the fact that Sara and I have just packed up everything we own into a storage unit and are now in Asia traveling for two and a half months. We saved over $2500 per month by not having any significant housing expenses at home and can use that money for travel. If we owned, we could still rent out the house, but that is quite a hassle. When we return in August, we’ll just rent a new place and be back to normal.
Conclusion
Renting is not for everyone, but neither is travel. I believe, however, that if you have the travel mindset, you probably will be happier renting your home at least with the knowledge that you can just pack up and go if the urge overwhelms you. As I have said before, my home is where the majority of my underwear is.
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If You Only Have One Day in Beijing…
The Great Wall
Beijing has a lot to offer, but if you only have one day there, here is a solid itinerary:
Start the day as early as possible with a quick, simple breakfast of traditional pastries, bread, or cake and milk tea at 85°C.
Take a taxi or bus ride to the Great Wall (Mutianyu Section). If you get there early, there won’t be many tourists and you can see it and go. Take the cable car to Tower 14 and then walk on the Wall back to Tower 6. Then ride the toboggan to the bottom, buy your “I climbed the Great Wall” t-shirt, get back in your taxi and head back to Beijing.
Temple of Heaven
Arrive back in Beijing for shabu-shabu lunch at Honyuan Hot Pot. This is an incredible meal that you cook yourself in your own hot pot. Not to be missed.
After lunch, go to the Temple of Heaven Park to walk off your meal. This is a huge open air park with lots of locals walking, hanging out, playing cards or musical instruments. You can walk for an hour or two and then head over to the Forbidden City for a view of how the emperors lived. From this historical site, head across the street to Tiananmen Square to a site with more modern significance.
Take a taxi to Da Dong Roast Duck Restaurant for a Peking Duck dinner that is both traditional and modern (not to mention delicious).
Head back to the train station or airport for your next stop.
Tiananman Square
There are many more things to see in Beijing, of course, but these are some of the top tourist sites. If you want to get more personal with the locals, you
will hopefully be staying a bit longer and can take your time. This itinerary is for the traveler that is pressed for time and wants to see the highlights. If you are the type that eschews the tourist crowd, you will want to steer clear of the Forbidden City, as it is packed with people. However, I would still suggest seeing the Great Wall, just go really early. It is worth it.
85度C咖啡蛋糕烘焙专卖店
北京阜成门店
西城区阜成门内313号房屋A单元
Tel: 010-66153545
Hours: 24H
宏源涮肉城(日坛路店)
朝阳区日坛东路9号(近使馆区)
Tel: 010-85628899
大董烤鸭店(东四十条店)
东城区东四十条甲22号南新仓商务大厦1-2楼
(东四十条桥西南)
Tel: 010-51690329 51690328
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7 Essential OTC Medications to Carry When Traveling
I am a big fan of natural medicine and have more than once found that a natural form of medicine has healed me permanently where the traditional Western doctors could only dull my pain. That being said, everything has its place and when you are traveling, you want to get out and see things, not stay stuck in a hotel room or hostel, miserable. In these situations, an over-the-counter (OTC) pill might just be the answer to giving you enough relief to get out there and take that picture of you holding the Eiffel Tower between your thumb and forefinger.
I do not have a strong stomach and Sara is allergic to everything, so, over time, we have developed our little kit of OTC medication that we do not leave home without on long trips overseas. Please keep in mind that we are not doctors, so please consult your own physician before embarking on your dream trip.
We usually like to bring along our own meds because finding its comparable version in a foreign language, or explaining your symptoms to a pharmacist who does not speak your language is sometimes challenging.
Below is a list of the best OTC medications that we take with us without fail. Obviously, if you have a specific medical condition or problem, you should take any normal medication with you that you might otherwise need at home, such as allergy or asthma drugs.
1. Ibuprofen. Otherwise known as Advil or Motrin. This is my number one go to medication for any kind of pain. When I was in the Navy, this was what they gave for everything under the sun, from toothache to herpes (just kidding about that last one, no, Mom, I don’t have herpes). The reason that I choose ibuprofen over acetaminophen is that you can actually poison yourself very easily by taking too much acetaminophen. It is a common pain reliever in hospitals, and if you have already loaded up on it, have to go to the hospital, and then cannot speak the language, you might get more, which could kill you. This is possible with any medication including ibuprofen, but it is actually more likely with acetaminophen.
2. Phillips Milk of Magnesia (in tablet form). As I mentioned before, I tend to have a weak stomach, and one of my problems when traveling is to become stopped up. My first visit to a hospital overseas (Taiwan) involved this problem. To head off this situation in subsequent trips, I have tried many types of laxatives over the years and have found Phillips Milk of Magnesia to be the most mild and highly recommend it.
3. Imodium. The other end of the spectrum and a problem I am also very familiar with, although I do not want to go into these multiple events at all (Egypt, Bali, Huangshan, etc.), involves not being stopped up enough. Hands down, Imodium is the best choice for this and I absolutely do not travel without it.
4. Benadryl. Even if you do not have any known allergies, I would recommend bringing along a few tablets or capsules of Benadryl. A few years ago, Sara was having lunch at a local sushi restaurant and suddenly developed a splitting headache. She was able to drive herself home, but determined that she was having an allergic reaction to something. She took some Benadryl and was eventually ok, but after some extensive testing, the doctor found she was allergic to tuna. She had eaten tuna hundreds of times before. He also said that if she had not taken the Benadryl, she might have died. She now carries an Epipen with her everywhere, but the Benadryl is what made the initial difference.
5. Sudafed (single-action pseudoephedrine). This can be a lifesaver for the sinus headache. However, it can also be useful if you are going to be flying or SCUBA diving and your nasal passages are stopped up. The pressure changes associated with both flying and diving can play havoc with your sinuses and Sudafed usually can bring fairly quick relief. This can be the difference between actually diving and sitting on the boat helping people on and off with their gear.
6. Pepcid AC. Another one for the weak stomach. Although, I personally rarely use this, Sara swears by it as she gets extremely painful gastritus from time to time. This will bring relief within 10 or 15 minutes and can prevent a trip to the hospital. With all of the exotic foods out there that your body is not used to, it is better to be safe than sorry.
7. A general daytime and nighttime multi-symptom cold medicine (combo pack). Although it is rarely good to take too much medicine, or medicine for symptoms that you might not have, it is difficult to pack for every instance. In this case, I like to carry along medicine that is designed to help with virtually anything. I would try to steer clear of anything with acetaminophen in it for reasons listed earlier, but something is often better than nothing. For this, go with something you have tried before and has worked for you. The best product I have found is a version of Robitussin from Taiwan, and we try to stock up whenever we visit.
As I said before, I really do try to not use medicine if I can avoid it. However, when traveling, I really do not want to be knocked out by a simple head or stomach ache and I don’t always trust the ability to find the correct medicine when I cannot read the packaging. If you are ok with taking OTC medicine for your aches and pains, these are the ones that we recommend. We would love it if you would share your personal recommendations/experiences in the comments.
Image provided by e-MagineArt.com.
Read MoreOur First Twitter Contest “Inspire Others to Travel” – Win $50 in Amazon Gift Cards
After some thoughts on how to get the word out about our very awesome blog, we decided that we will hold a Twitter Contest. We want to enlist your help in spreading the word, and in return, we will pick two winners. Each lucky winner will receive a $25 gift card to Amazon.com. We hope you will spend it all on cool travel related stuff or Lonely Planet guidebooks for your next trip!
So here are the simple rules:
- You must have an account on Twitter.
- You must be a follower of @FlyingCoach.
- To enter, tweet any post from our blog. Use the hashtag #FCContest and mention @FlyingCoach.
- You can copy and paste the tweet below to tweet this post.
- Each tweet counts as an entry.
- You can use a URL shortener, such as ow.ly, tiny.ly, bit.ly, etc..
- The contest begins on Monday, April 25th, at 12:01AM Pacific Time.
- The contest closes on Sunday, May 1st, at 11:59PM Pacific Time.
- We will select the winners using a random number generator. Winners will be notified via Twitter on Monday, May 2nd.
Retweet the following to begin:
Inspire Others to Travel, follow @FlyingCoach & RT to win $50 in Amazon GC. http://ow.ly/4EMF4 #FCContest #Contest
Ready? Set? Go!
Read MoreCongratulations, Gary!
In the mid-90′s, I was fortunate to be able to work and travel at the same time. I spent four and a half months traveling around South America with a group of guys and we had our share of adventures. I lost touch with all of them over the years, but recently ran into my closest friend from that trip, Gary Ryals (I have mentioned him in a previous post). We have since spent some time together catching up and it turns out he has gone on to become a U.S. Navy officer and earned his MBA from UCLA.
Not only has he been incredibly successful in his career, but he was also named by UCLA as a Top 100 Inspirational Alumnus.
Congratulations, Gary! We had quite a few good times together and hopefully have many more to come.
Read MoreHow You Can Help Japan
Sara’s first travel experience was to Japan. That trip changed her life and gave her the passion that she has for travel today. I proposed to Sara in Japan and our younger daughter’s first trip other than to Taiwan was to Tokyo. I found the country to be at the top of my favorite places to have visited. The recent tragedy there is heart-wrenching for our whole family.
If you are not sure of the best way to help the Japanese, a fellow blogger, Todd of Todd’s Wanderings has put together a list of trustworthy support agencies based in Japan that have English websites. He was in Japan at the time of the quake and his wife is Japanese, so he knows firsthand the devastation and the relief efforts that have the greatest effect. Please go to his site, pick an organization and donate what you feel you can to help out.
Read MoreDreams, Passion, Loss
For the last two nights I have had dreams about an I.T. client of mine whom I have known for over 10 years (according to my dream, Hurley from Lost was his personal chef). I found out two weeks ago that he passed away in December after a battle with stomach cancer. I have been fortunate over the years to have a lot of clients, but I can safely say that Dr. Dana Launer was pretty unique. He was a colo-rectal surgeon by trade and you would think that a lifetime of looking up people’s rectums would make someone surly, but this man had a zest for life, always a smile on his face.
Dr. Launer found out in August that he had developed cancer and subsequently had his stomach removed. I did not find out about this until just before Christmas when he called me to help him set up a computer in his house downstairs because he could no longer climb his stairs. I normally do not go to a client’s house, but with Dr. Launer I have always made an exception. When I was over at his house, we talked of travel. He told me of taking a trip to Lake Tahoe with his kids when they were very young. I shared with him some stories from our latest trip on the Trans-Siberian Railway (he knows Sara very well). He looked at me and said, “I always wanted to take Elaine and travel once I retire. Now it looks like I might never get that chance.”
That statement stuck with me and gave me quite a bit to think about. At first, I felt bad for him, because he never got a chance to follow his dream to travel. He had worked hard his whole life, becoming Chief of Surgery at the same hospital where our younger daughter was born. He never had time to play. Then I recalled an earlier conversation I had had with him in the elevator at his office. I was headed to my car, tired after a long day of visiting clients, and he seemed his normal, chipper self.
“Why are you so happy?” I asked him.
“Because I’m headed to surgery.”
I was confused. Of course, he was going as the doctor, not the patient, but to me, surgery meant a long tedious process that would exhaust you even further and was not something to which I would look forward. So I asked again, “So…why so happy?”
He answered, “Because this is my favorite part of my job. I am going in there to change someone’s life. I am going to take away their pain. This is why I became a doctor: to help people.”
I do not feel bad that Dr. Launer never pursued his dream of travel. He pursued a lifetime of his passion. I will miss him. Good-bye, Dr. Launer.
The secret to enjoying your life is simple: Find your passion. Don’t postpone it. Pursue it.
Not next week.
Now.
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How to Eat Your Way Through Chinese New Year in San Francisco
Last year I got to experience diverse culinary delights from many different Asian cultures during the traditional Chinese New Year celebration in San Francisco. We went there to celebrate with Sara’s extended family. Unfortunately, her immediate family could not make it from Taiwan and China, but we did get to see almost everyone else on her mother’s side…dozens.
As individuals, Sara’s family members have many different interests and specialties. As a whole however, they only have one: food. When everyone gets together for a meal, while traveling, or just visiting, the topic of conversation over lunch is always what’s for dinner. Dinner always revolves around what tomorrow’s meals will bring. I knew ahead of time that we were in for a treat on this trip, but, once again, I was blown away by the quality of food that we were able to consume in one (three-day) weekend. If you are going to San Francisco any time soon and want some good authentic Asian food, read on…
Our first meal, lunch on Friday, was from a small, hole-in-the-wall Hong Kong style restaurant in the Sunset district of San Francisco called Cheung Hing Chinese Restaurant. We had a combination of soy-sauce chicken, duck and tofu over a bed of rice. I have really come to love this type of cooking over my years with Sara and this is one of my favorite restaurants that prepares it. No matter when you go, there will be a line, and, while you can eat it there, we never have because it is so tiny, so plan to take it away and eat elsewhere. Note that the beach is less than a mile away and if it is a nice day, it would make a great picnic.
For dinner on Friday, Sara chose to have us go to Japantown for some ramen, a traditional Japanese noodle soup. I have never been a big fan of ramen, mainly because we Americans are only exposed to the really, really cheap stuff, but when we were in Japan, we had some from Ichiran Ramen in Ueno, Tokyo and it was without a doubt the best I have ever had. Unfortunately, that doesn’t carry a lot of weight, because I, once again in case you weren’t paying attention, don’t really like it that much, but Sara and her sister Sophia also agree that it was the best in the world. That is saying something. The restaurant in San Francisco, unfortunately, was not nearly as good, but was not bad in any way. They make their own noodles and everything is very fresh and appealing to the American palate. However, I have been spoiled and am still pining for my Japanese ramen.
Saturday brought a dim sum brunch. A lot of Americans do not like dim sum because they are afraid of it. If you are unaware of what dim sum is, it is a Hong Kong style Chinese buffet that is brought to you. You typically stay seated while waiters or waitresses bring carts around the restaurant with different dishes and you can pick what you want for the table to share. You only pay for what you take. The problem is that most Americans cannot identify anything and are scared to death that they are going to end up with something like cow’s intestine (definitely possible, so be careful). To overcome this fear, you really need to go to a dim sum restaurant with someone who really knows their stuff (and whom you trust to accurately relay that information).
The first time Sara and I went to a dim sum restaurant was in San Diego (not really known for great Chinese food). One of the items that was an option was obviously chicken nuggets, but they were curiously shaped like chicken’s feet. Being of the McDonald’s generation (parts is parts), I was used to chicken being ground up and re-formed into palatable shapes, but I could not imagine why they would choose to make them look like feet. I pointed this out to Sara, who laughed at the silly white boy and said, “That’s because they ARE feet.” OK, skip the feet. One point of note, if you do choose to try the feet, Sara tells me that at the cheaper restaurants they still have the toenails on them, while the higher end places trim them.
On this dim sum trip to Koi Palace, the family decided not to wait for the carts to approach us (all the good stuff is gone), but instead to order from the menu. It was the most incredible dim sum brunch I have ever had. We had all different forms of shrimp, chicken, pork, and most of it would be outstanding to the average American taste. Don’t get me wrong, we did have a few things that were not too appealing to me: cow’s intestine and, yes, chicken feet (they actually ordered them off of the menu!). I was feeling good, however, and I agreed to try one of the feet. Well, just one of the toes, actually, and I would like to say that it was quite good. But, of course, I would be lying. It was mostly skin and fat. Also, you know how your fingers are made up of quite a few bones held together by ligaments…so are the chicken’s. You have to filter those out with your tongue and then dispose of them discretely. I will say that the toenails were clipped, though.
That night was the traditional Chinese banquet, usually a 12-course meal, made up of almost every type of food you can think of, and a few that would never occur to you (jellyfish, sea cucumber – those little slug-like things). Once again, we went to a traditional Chinese restaurant, Five Happiness. The meal had been selected beforehand, so all we had to do was wait for it to be delivered. Everything is served ‘family-style’, meaning it was all put on a large Lazy Susan and everyone took what they wanted. Even though there are twelve courses, the portions are fairly small, so it is possible to try everything. I will say that I have had jellyfish before, several times, and I do recommend it. It has a great taste and the consistency is something to be experienced, both chewy and crunchy at the same time.
The highlight of the evening was Sara discovering a new allergy: eel. She determined a few years ago that she is violently allergic to tuna. So much so that she has to carry an EpiPen with her. After eating the eel (an early course), she started getting the same feeling as she gets when she eats tuna: massive headache and a feeling she is going to pass out. Tom, husband of one of Sara’s cousins, quickly found a nearby pharmacy on his iPhone and I set off to get some Benadryl (the EpiPen was at home). Luckily, Sara is not quite so allergic to eel, so I made it back in time with the medicine and she was OK for dessert.
Since Sara has family in San Francisco, we go there often, but it is certainly a city that can be visited over and over and you will never tire of it. I think that the only U.S. cities that rival it for unique and exciting culinary destinations are New Orleans and New York. If you are planning a trip there, Chinese New Year is certainly a time of year to consider going, especially if you have some Chinese friends there that can show you the secrets.
Read MoreBack After A Brief Delay
Recently, Sara and I have been busy with work and haven’t had any time to tend to our travel blog. That is about to change, however, because we have also been busy planning our next epic journey and plan to share all of the details.
We have always loved to travel, but something happened to us on our Egypt trip. We came to the conclusion that travel is really something that is more important to us than we had realized. Some people want to have a nice house, or a nice car, or an “I’m more significant than you are” job. For a while, those things seemed consequential as well, but not any longer. Travel is the goal. Sara can list her entire ‘Bucket List’ in three words: See the world.
This year has been quite hectic for us. Our business really picked up and we have had a few short trips, which we will try to write a bit about in the near future. But we had no time for the blog. We did have time to plan an adventure, though, and it is a good one. We brainstormed to try to come up with something that was even better than the Egypt trip. We talked about Australia, South America, even Antarctica, but ruled them all out for one reason or another. Finally, Sara came up with one that was epic, but doable: the Trans-Siberian Railway, with several stops along the way including camping in Mongolia.
We will be taking a 36-day trip, starting in Shanghai, China, working our way up to Beijing, across Mongolia, Siberia and Russia to Moscow and then St. Petersburg. We will be bringing another couple along with us and hope to have just as many adventures both on and off the train as we did in Egypt.
Please join us in the coming months while we provide planning tips, gear reviews, frugality techniques and, of course, stories from the road.
If you are new to the blog, here are some of our favorite posts that you might like:
Day 2, Sara Passes Out…Cold (Egypt)
My Trip to the Onsen or How to Take a Bath with a Bunch of Other Guys (Japan)
Day 12, The Bomb Scare at the Israeli Border (Egypt)
Read MoreHow To Use a Squat Toilet
If you travel overseas enough, you will eventually run into a squat toilet. “What is a squat toilet?” you ask. They come in many varieties, but essentially, it is any toilet which requires you to squat instead of sit in order to conduct your business. From my experience, they are very popular in Asia, the Middle East, Africa and South America. Don’t be afraid, though, once you get the hang of them, they are not that bad, and actually offer a much more sanitary experience that a lot of public sit-down toilets. I know that as a guy, I have gone into many bathrooms, even here in the U.S., looked at the toilet and thought, “Man, I’m glad I don’t have to sit on that!” Women, however are not as fortunate, so they might especially appreciate the squatter. Sara, raised in Taiwan, much prefers the squat toilet to the sit-down variety in a public situation.
So, what is the best strategy for using this toilet? If you have ever camped in the woods (without a bathroom nearby), you probably have your own technique. However, if you are new to the game, here is where to begin. First, bring your own toilet paper. Most squat toilets do not have any because most of the locals do not use it. Yes, that’s right, the left hand was created for something after all (sorry to all of you lefties out there). Check local customs, but in many countries it is very offensive to offer to shake hands with your left hand for this very reason.
Once you enter the stall, you will notice an oval bowl built in to the floor. You will want to position your feet on either side of the bowl, drop your drawers and squat, being careful not to let your pants hit the ground, but making sure they are out of firing range. Try to position yourself over the bowl as much as possible for accuracy. I have found that maintaining this position can be difficult unless you relax. Rest the backs of your thighs on your calves so you are not straining too much. Then, let nature take its course.
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