Can I really afford a BMW?

rad doc · 08-23-2016, 11:02 AM

Quote:

Originally Posted by Don Molina

Quote:

Originally Posted by JJ_Moura

Judging by all the comments with advice I get that living in the US must be financially very tough and uncertain.
To OP, best advice is: move to Europe! It's way nicer here :P

True 'dat.

I wouldn't move to the US for anything under 300k a year

Great and I wouldn't move to Europe for anything less than 1.5 mil.

jgoens · 08-23-2016, 11:10 AM

So, what is the consensus? Buy a house? Wait on the house? Move to Poland? Move to NJ? Put all the money in Roth? Buy i8? I, just.....can't .....figure.....it..out.

csu87 · 08-23-2016, 11:46 AM

Quote:

Originally Posted by jgoens

So, what is the consensus? Buy a house? Wait on the house? Move to Poland? Move to NJ? Put all the money in Roth? Buy i8? I, just.....can't .....figure.....it..out.

I believe the consensus is buy houses in Poland and NJ but dont live in either and rent them out while you stay at a luxury hotel for a few years, Put all your money in high risk stocks and finance an i8 100% with no money down.

ilya335 · 08-23-2016, 11:50 AM

Go travel while you're young. Much better experience imo.

J.M · 08-23-2016, 11:54 AM

Quote:

Originally Posted by ilya335

Go travel while you're young. Much better experience imo.

To NJ, and Poland. But not to western europe coz there's commies there!

JasonCSU · 08-23-2016, 12:07 PM

These threads always seem to evolve into two viewpoints. One side suggests to save and invest every penny and live like a miser until you retire, while the other side says YOLO bitches.

My advice is to find a happy medium. Obviously you want to set yourself up well for retirement, but you also don't want to miss out on life while on your way to retirement, assuming you get there. Some stuff is definitely more fun to experience while young and able bodied, such as traveling that was mentioned above.

Jaghave · 08-23-2016, 12:49 PM

Quote:

Originally Posted by JasonCSU

These threads always seem to evolve into two viewpoints. One side suggests to save and invest every penny and live like a miser until you retire, while the other side says YOLO bitches.

My advice is to find a happy medium. Obviously you want to set yourself up well for retirement, but you also don't want to miss out on life while on your way to retirement, assuming you get there. Some stuff is definitely more fun to experience while young and able bodied, such as traveling that was mentioned above.

Retirement depends if you wish to stop working at some point. I can't see myself ever not working so retirement fund is not on my priority list

Skunkwerks · 08-23-2016, 12:57 PM

Quote:

Originally Posted by jgoens

So, what is the consensus? Buy a house? Wait on the house? Move to Poland? Move to NJ? Put all the money in Roth? Buy i8? I, just.....can't .....figure.....it..out.

Buy a shed.

ASBSECU E93 · 08-23-2016, 01:00 PM

Quote:

Originally Posted by JasonCSU

These threads always seem to evolve into two viewpoints. One side suggests to save and invest every penny and live like a miser until you retire, while the other side says YOLO bitches.

My advice is to find a happy medium. Obviously you want to set yourself up well for retirement, but you also don't want to miss out on life while on your way to retirement, assuming you get there. Some stuff is definitely more fun to experience while young and able bodied, such as traveling that was mentioned above.

You can't go back in time and recapture appreciation of investments.

I agree, enjoy youth - but plan for tomorrow.

John 070 · 08-23-2016, 01:00 PM

Quote:

Originally Posted by Jaghave

Retirement depends if you wish to stop working at some point. I can't see myself ever not working so retirement fund is not on my priority list

I was told by someone this changes when you are "older." He retired at 53 and this was 10 yrs. ago. All the stuff he did, I can picture he would not have if he had kept working (two things are he upgraded his McMansion because he married a younger woman from Ireland). So what's the price of having been free and living it up relatively speaking, the last 10 years? He did take a reduced payout from the rule of 75 (age plus yrs of service = 75).

jgoens · 08-23-2016, 01:02 PM

Quote:

Originally Posted by Skunkwerks

Buy a shed.

Yeah and make sure to chicken wire the whole thing.

UncleWede · 08-23-2016, 01:05 PM

Quote:

Originally Posted by Skunkwerks

Buy a shed.

Why buy, when the smart money is on squatting???

ResoKP · 08-23-2016, 01:19 PM

Quote:

Originally Posted by Jaghave

Retirement depends if you wish to stop working at some point. I can't see myself ever not working so retirement fund is not on my priority list

The term "retirement" could mean different things to different people.

If you narrow down the real purpose of a "retirement fund" it comes down to achieving a "financially independent (FI)" status.

FI is freedom. It means you can continue working without having to work-for-money or simply walk away from your job anytime because you have that F U money.

Being FI AND retired doesn't necessarily mean you stop working altogether either. Volunteer at a local charity/community service or basically do whatever you want that fulfills you.

fecurtis · 08-23-2016, 01:29 PM

Quote:

Originally Posted by jgoens

So, what is the consensus? Buy a house? Wait on the house? Move to Poland? Move to NJ? Put all the money in Roth? Buy i8? I, just.....can't .....figure.....it..out.

We decided he should spend half of it on hookers and blow and bet the other half on black.

MC 357 · 08-23-2016, 01:32 PM

If you are comfortable spending that much on a car, and your not planning on buying a house or getting married anytime soon then do it. You are making good money and you are only going to be making more.
I personally wouldn't, I had a Z4M i bought a while back because I love how the car looks, but thats where it ended, I got tired of it really fast. So I sold it and bought Mini Cooper S (couldn't be happier) and used the extra money to pay off student loans!

fecurtis · 08-23-2016, 01:39 PM

Quote:

Originally Posted by MC 357

If you are comfortable spending that much on a car, and your not planning on buying a house or getting married anytime soon then do it. You are making good money and you are only going to be making more.
I personally wouldn't, I had a Z4M i bought a while back because I love how the car looks, but thats where it ended, I got tired of it really fast. So I sold it and bought Mini Cooper S (couldn't be happier) and used the extra money to pay off student loans!

Lol we suck at giving sound financial advice. Did anyone here ask OP or did he mention his liabilities?

Flying Ace · 08-23-2016, 02:01 PM

Quote:

Originally Posted by UncleWede

Why buy, when the smart money is on squatting???

you're late to the game, smart money has moved to subleasing/airbnb sheds.

brandoningram14 · 08-23-2016, 02:03 PM

Quote:

Originally Posted by fecurtis

Lol we suck at giving sound financial advice. Did anyone here ask OP or did he mention his liabilities?

None just finished paying off student loans

Amirsm3 · 08-23-2016, 02:04 PM

Quote:

Originally Posted by fecurtis

We decided he should spend half of it on hookers and blow and bet the other half on black.

Hookers were mentioned and I was summoned. Did op have a cocaine fueled orgy with hookers? No? Fuck this shit, I'm out.

Questofthetune · 08-23-2016, 02:08 PM

Polands nice this time of year just look out for the blitzkrieg- things get pretty dicey

fecurtis · 08-23-2016, 02:10 PM

Quote:

Originally Posted by Questofthetune

Polands nice this time of year just look out for the blitzkrieg- things get pretty dicey

Relevant:

Questofthetune · 08-23-2016, 02:35 PM

Quote:

Originally Posted by fecurtis

Relevant:

Clarkson was why I wrote what I did. I miss them. 1982FKL another good one.

08-23-2016, 11:10 AM	#244
jgoens Major General 3788 Rep 5,776 Posts Drives: 2013 335i msport Join Date: Nov 2014 Location: San Mateo, CA iTrader: (0)	So, what is the consensus? Buy a house? Wait on the house? Move to Poland? Move to NJ? Put all the money in Roth? Buy i8? I, just.....can't .....figure.....it..out. __________________ 2013 335i Msport Black sapphire/Coral red. MHD. stage 2--e30 VRSF DP, ER CP, Dinan Shockware. VRSF 12mm/15mm spacers. Cobra dashcam. Various codings. Last car: 2011 335i Msport. JB4. Vrsf CP
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08-23-2016, 11:50 AM	#246
ilya335 Second Lieutenant 180 Rep 282 Posts Drives: BMWs Join Date: Apr 2011 Location: West L.A. iTrader: (0)	Go travel while you're young. Much better experience imo.
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08-23-2016, 12:07 PM	#248
JasonCSU Colonel 702 Rep 2,548 Posts Drives: '08 135i, '88 325is Join Date: Feb 2008 Location: Denver, CO iTrader: (0) Garage List 1988 BMW 325is [0.00] 2008 BMW 135i [0.00]	These threads always seem to evolve into two viewpoints. One side suggests to save and invest every penny and live like a miser until you retire, while the other side says YOLO bitches. My advice is to find a happy medium. Obviously you want to set yourself up well for retirement, but you also don't want to miss out on life while on your way to retirement, assuming you get there. Some stuff is definitely more fun to experience while young and able bodied, such as traveling that was mentioned above. __________________ Delivered in Munich, broken in on the Nurburgring.
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08-23-2016, 01:32 PM	#257
MC 357 Private 17 Rep 81 Posts Drives: R53 Cooper S/I3 Join Date: May 2009 Location: SoCal iTrader: (0)	If you are comfortable spending that much on a car, and your not planning on buying a house or getting married anytime soon then do it. You are making good money and you are only going to be making more. I personally wouldn't, I had a Z4M i bought a while back because I love how the car looks, but thats where it ended, I got tired of it really fast. So I sold it and bought Mini Cooper S (couldn't be happier) and used the extra money to pay off student loans! __________________ http://fredricknaaman.wix.com/2016
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08-23-2016, 02:08 PM	#262
Questofthetune Captain 446 Rep 780 Posts Drives: 13 GT50014 AW M235i(sold) Join Date: Jul 2016 Location: SFL iTrader: (1) Garage List 2014 BMW 235i [0.00]	Polands nice this time of year just look out for the blitzkrieg- things get pretty dicey
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