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      12-09-2016, 09:58 AM   #45
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Originally Posted by Samurai of 2day View Post
anything can be bought... whether or not you can afford should be the true deciding factor.
I can think of an exhaustive list of things I can't buy. Can't even come close to buying. Will never come close to buying. All the money I earn in a lifetime won't put up the down payment on some houses, some yachts, most planes, etc.
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      12-09-2016, 10:14 AM   #46
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Originally Posted by Samurai of 2day View Post
anything can be bought... whether or not you can afford should be the true deciding factor.
I can think of an exhaustive list of things I can't buy. Can't even come close to buying. Will never come close to buying. All the money I earn in a lifetime won't put up the down payment on some houses, some yachts, most planes, etc.
I used to feel the same way.

Of course, there are some limitations, however depending on your credit score... financial institutions will pretty much finance you anything.

That's when it boils down to the "should I afford it" question

Quick example. I certainly don't make 6 figures a year, but I still make a very comfortable living after YEARS of climbing the ladder in my chosen career.

A couple years ago, I had a Bentley Dealer scratching at my heals to put me in a very nice brand new car from his show room floor.

Could I afford the payments he drew up? Absolutely. As a single guy, bachelor life makes it very easy for me to manage my finances in a very selfish manner.

Would have been nice to drive a Bentley for a few years, but of course I decided to stick with something that still gives me my "nice car" fix, without the potential of over stretching myself if an emergency came up.

Over all, credit status will put many people into cars or homes who might not necessarily be able to afford it from the outside looking in.
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      12-09-2016, 10:28 AM   #47
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Over all, credit status will put many people into cars or homes who might not necessarily be able to afford it from the outside looking in.
Mmm... the sweet smell of the last housing crisis.
Thank you a hole bankers and a hole wall street mortgage repackagers.
So good to know none of you went to jail for trashing the economy.
So sweet that many of you walked away with $100+ million golden parachutes.
So glad to see many of you cycling in and out of your fraudster wall street jobs and high level government positions.
Mmm... I'm getting really aroused right now. I better go take care of this.
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      12-09-2016, 10:39 AM   #48
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Originally Posted by Samurai of 2day View Post
Over all, credit status will put many people into cars or homes who might not necessarily be able to afford it from the outside looking in.
Mmm... the sweet smell of the last housing crisis.
Thank you a hole bankers and a hole wall street mortgage repackagers.
So good to know none of you went to jail for trashing the economy.
So sweet that many of you walked away with $100+ million golden parachutes.
So glad to see many of you cycling in and out of your fraudster wall street jobs and high level government positions. Mmm... I'm getting really aroused right now. I better go take care of this.
lol. I totally understand your frustration. I'm the type of person who has a tendency to stick up for the "little guy", so I hate to hear stories of humble and honest hard working people who got taken advantage of by some selfish scheme or "professional " scam artists.

Originally, your thread was created to find out what people do to earn and pay for the toys we have, and or admire. I believe that if you work hard to make an honest living without hurting people maliciously, then you should have whatever few luxuries and frivolous conveniences you can manage during the short time we have on this planet.
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      12-09-2016, 10:46 AM   #49
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I have two incomes, mine and my GF's. Together we don't make 6 figures (close, though). I live in TX, we are "No Kids Rich", and we manage our incomes well. We sacrifice some things to have others. That's how we have what we have, in general.
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      12-09-2016, 10:47 AM   #50
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      12-09-2016, 10:59 AM   #51
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All kidding aside, it's interesting to see what cars are sitting in the driveways/garages of the uber rich. Driving along Rt 193 in McLean and River Rd in Potomac, you get see some sick displays of money. But the interesting thing is where these homes would cost in property taxes per year equal to that of many people's yearly salary, you see the "common" folk cars like Honda Accords in their driveways.

I have a friend who owned, sold off for millions, and started up another company. He used to be neighbors with RGIII until he bought a new construction house where he has his own automated security gated fence. His wife drives a Cayenne and he drives a Panamara. Visiting his house was truly awe inspiring. One year when I met up with him at the track, he told me his truck broke down that he used to haul his enclosed trailer with his track bike. Ended up just going into a Ford dealership and walking out with a F350. I sometimes imagine what it would be like to have car issues, not have to deal with it financially, and just buy a new car. The great part about my friend is he doesn't carry an attitude. Really friendly, not condescending, and just an overall great guy to associate with.
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      12-09-2016, 12:10 PM   #52
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I resigned from my laptop CEO position today. Starting Monday i will be starting my new career as Cuba's new dictator. Who needs M cars when i'll have all the frankensteined American 1950's era cars i want.
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      12-09-2016, 12:47 PM   #53
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I resigned from my laptop CEO position today. Starting Monday i will be starting my new career as Cuba's new dictator. Who needs M cars when i'll have all the frankensteined American 1950's era cars i want.
Now that the embargo is being lifted, could you pack a nice one with cigars and send it over to me, please?

When you get a break from dictating, that is. Don't want to cause any real issues or constrain your time, but some of those cars are freaking COOL!
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      12-09-2016, 12:48 PM   #54
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I am a beaver damn code enforcer.
I laugh historically every time I read that!!!
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      12-09-2016, 02:08 PM   #55
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Now that the embargo is being lifted, could you pack a nice one with cigars and send it over to me, please?

When you get a break from dictating, that is. Don't want to cause any real issues or constrain your time, but some of those cars are freaking COOL!
Kind of funny, i have a box of Cubans sitting on my kitchen counter. My wife's firm started going to Cuba several months ago. The partner that's been going has been bringing back cigars from every trip. We don't use them so we're giving them to clients.

TLR Cliffs: If you want cubans from me, you need to utilized my wife's CPA services or buy some flooring.

The sheer ingenuity that has gone into keeping some of those cars on the road is super cool in and of itself.
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      12-09-2016, 02:09 PM   #56
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I laugh historically every time I read that!!!
It's a little known fact that historically, beavers are damn easily agitated.
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      12-09-2016, 02:11 PM   #57
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Quote:
Originally Posted by Mr Tonka
Quote:
Originally Posted by ASBSECU E93 View Post
I laugh historically every time I read that!!!
It's a little known fact that historically, beavers are damn easily agitated.
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She stood there. Pointed a finger at me and laughed at me. That damn bitch.
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Poop shit, shit and poop. I'm mildly angry now.
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      12-09-2016, 02:27 PM   #58
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Quote:
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It's a little known fact that historically, beavers are damn easily agitated.
Quote:
Originally Posted by ASBSECU E93 View Post
Have you two met?
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      12-09-2016, 02:34 PM   #59
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I personally never made more than $85K and my wife never more than $75k, so between us, we never made more than $160k gross. Of the 18 BMWs (that's over 40 years time), 7 of them were new and the oldest was 6 years old (a 1998 540i we bought in 2004 as a second car). Our house is paid for, our cars are paid for, we have no debt at all, and $400k+ in savings. You don't have to make megabucks to live comfortably when you spend smartly. But that's just me.
This is amazing to me. I've been making over 6 figures for over a decade, so I should have close to a million bucks in the bank right?

WRONG!

I put as much away as I can, in both a ROTH IRA, my wife's 401k, and my stock portfolio, but I should probably put away more. I'm still 20+ years away from my retirement, but I would LOVE to retire early. I've had 4 BMWs and 2 Audis between cheaper Japanese imports, and so far the F80 is my most expensive car at around $80k. As I get older, I think a CPO M cars are the wiser choice, along with a sensible daily driver.

Anyway, congrats to you Sakhir, I hope I'm in as good position as you in the future and still driving a M car!
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      12-09-2016, 02:56 PM   #60
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I don't know why you left out us i8 owners because we have ///M suspension. I've seen it. Stamped on the parts.

I went 15 years without a car note for me because of company cars and saved it to buy something special. As jmg stated, I went the CPO M6 route first to assess my commitment to this hobby while having a company car. After that went well, I did the i8 with a couple of more planned.

We've owned 2-5's, an X5 3.5i, a 328d, the M6 and the i8 since 2006. Before then it was a VW Passat, Honda Accord EX, Ford Expedition, and Acura Legend LS.

I was a VP in telecommunications until my early 30s and have worked in Pharma/Biotech since 1998. Senior management now.

The single biggest expense we have had is our child but that's our choice. I remember the good old days of being a DINK - Double Income No Kids. Nothing was out of reach and we went everywhere. Semi-empty nest with no more private school tuition but expenses for college are pretty high.

Research and plan before you make a decision but don't wait. Once you make the decision, pull the trigger and enjoy yourself.
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      12-09-2016, 04:09 PM   #61
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Quote:
Originally Posted by TheAxiom View Post
Quote:
Originally Posted by Mr Tonka View Post
It's a little known fact that historically, beavers are damn easily agitated.
Quote:
Originally Posted by ASBSECU E93 View Post
Have you two met?
No.
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      12-09-2016, 04:50 PM   #62
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This is amazing to me. I've been making over 6 figures for over a decade, so I should have close to a million bucks in the bank right?

WRONG!
Um, no... you shouldn't have anything remotely close to that put away, unless you're living in a tent under the freeway.

Me and my wife spend a million dollars every 8 years just living a fairly average middle class american life.
Our house is 2,500 sq. ft.
I have my BMW and she has her car.
We have nothing else extravagant or remotely expensive.
She buys jewelry at kohls, and lots of clothes at goodwill, lol.
We have no expensive hobbies or activities.
We don't take vacations... EVER.
We have no kids.

By the time taxes are done raping you on the federal, state, and local level, and all your regular expenses are deducted for rent, lights, cable, cell phones, etc, etc... a $150-170k year income is all but gone.
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      12-09-2016, 04:53 PM   #63
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Quote:
Originally Posted by 01101001 View Post
Quote:
Originally Posted by jmg View Post
This is amazing to me. I've been making over 6 figures for over a decade, so I should have close to a million bucks in the bank right?

WRONG!
Um, no... you shouldn't have anything remotely close to that put away, unless you're living in a tent under the freeway.

Me and my wife spend a million dollars every 8 years just living a fairly average middle class american life.
Our house is 2,500 sq. ft.
I have my BMW and she has her car.
We have nothing else extravagant or remotely expensive.
She buys jewelry at kohls, and lots of clothes at goodwill, lol.
We have no expensive hobbies or activities.
We don't take vacations... EVER.
We have no kids.

By the time taxes are done raping you on the federal, state, and local level, and all your regular expenses are deducted for rent, lights, cable, cell phones, etc, etc... a $150-170k year income is all but gone.
Is it safe to assume you live in California?
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      12-09-2016, 04:54 PM   #64
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TLR Cliffs: If you want cubans from me, you need to utilized my wife's CPA services or buy some flooring.
Can you come tell me how much to stop my wood floors from squeaking (tigerwood over raised foundation) and leave a few on the end table? Then maybe your wife can explain how I can save up to have the foundation poured underneath so I no longer have that issue.
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      12-09-2016, 04:59 PM   #65
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Is it safe to assume you live in California?
Seattle
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      12-09-2016, 05:14 PM   #66
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Quote:
Originally Posted by 01101001 View Post
Um, no... you shouldn't have anything remotely close to that put away, unless you're living in a tent under the freeway.

Me and my wife spend a million dollars every 8 years just living a fairly average middle class american life.
Our house is 2,500 sq. ft.
I have my BMW and she has her car.
We have nothing else extravagant or remotely expensive.
She buys jewelry at kohls, and lots of clothes at goodwill, lol.
We have no expensive hobbies or activities.
We don't take vacations... EVER.
We have no kids.

By the time taxes are done raping you on the federal, state, and local level, and all your regular expenses are deducted for rent, lights, cable, cell phones, etc, etc... a $150-170k year income is all but gone.
Yeah, I was being slightly dramatic. The reason why I feel like I should have that much saved is because I remember making only $60k a year and being perfectly comfortable. If I can afford to live on $60k as a 20+ yr old, why couldn't I put away $100k a year the past 10 years? Of course, our lifestyles change with age and income, but theoretically, I could be set for life and retire NOW if I had lived like 20+ yr old me the past 10 or so years! Unrealistic, yeah, but people have done it.

Our lifestyle is actually very, very similar to yours, except we have a kid and we take 2 vacations a year, but I make more than $170k so I think it evens out. I manage to save a decent amount, like I mentioned, but I think I should be saving more. The goal is to have at least $500,000 in the bank in savings. That plus our retirement funds, property investments, and stock should make a comfortable retirement without having to rely on social security or worry about healthcare. My nightmare will be fully realized when our child won't qualify for and financial aid for college because of our income and we will be paying out of pocket.
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