For those of you who front about your BMWs and 6 figure incomes

[DieselRobert1]

I look at it this way, don't live beyond your means, if you can't afford it don't buy just because you want to "keep up with the joneses".

However, enjoy life. You only get one go around, it would suck to work your ass off only to have your distant family spend your wealth.

What I DON'T understand is financing a used out of warranty BMW. Maybe if you can turn a wrench and you pay cash??? still they're junk.

[TheAmericano]

LMAO @ thinking BMW is flashy....just LMAO

[sp7gener1c]

this one hurt, I was looking at 09 S65 AMG's around the 30K mark recently....yes I would have to finance one but brb twin turbo V12 with 604hp and over 700tq stock. That V12 is damn near bullet proof and these S class cars can be found around 60K miles for 30 grand.

Swap engine on s63 V8 TT = 40k $

brb gas is 60k$ for 400k miles

brb maintenance is $$$

good comfort inside, full leather, spacious in the back. Due to YUGE rims the ride is not as confortable and the suspension a bit more rigid compared to non-AMG.



Still would rather get a 6-cyl 3-er or C-Class and tune it up. Much cheaper in the long run.

[DrFeeIGood]

jesus christ this car sounds 10/10...

[MyBaddBrah]

BMW/Audi/Benz owners rustled ITT. Lettcue be reality, 99% are ****ing morons, equivalent to the 45 year old washed up bish seeking status approval

[jwlee7ucla]

Am I the only one itt that thinks 6 figures is a lot of money? I live in San Francisco and I think the majority of you is crazy

[iceypain]

There are just as many, if not more, millionaires who live lavishly and within their means. Moral of the story is do what you want. But I would say that saving money never got anyone rich, the idea is to make more money not penny pinch your way to a million in your 50s-60s.

[eLjay28]

I know some of your co-workers... I bartended at Roxy before it became Guilt. Did some EDC's then got out of ucf with a diploma and never looked back. Now I'm in Tampa and truthfully, I'm going to move back to Miami soon. This is city blows. Shoot me a PM if you want, maybe we can link up and smash a bottle to the face.

Got you homie.

[Schism45]

LOL at the average financial intelligence of miscers in this thread.

It's all about spending on what matters to you, and NOT spending on what doesn't matter. Run a budget for a few months and you'll be shocked at how much money you spent on things that don't matter at all to you. Most people spend thousands of dollars every year on things that don't actually contribute much to their happiness or fulfillment in life. Many would consider me to be frugal but to my mind, I'm not missing out on a single thing. I simply spend on what I care about and I don't spend on what I don't care about.

Some people want to live paycheck to paycheck and blow it all on every whim, hey that's fine if that makes you happy. Can't say those people look happy, they seem pretty stressed and resigned to working forever, but maybe they prefer it that way. There's no excuse for living that way in today's world unless you want to.

I want to have fuk you money and I want to be in control of my life and what I do with my time.

You don't have to live in a cellar and deprive yourself of everything good in life for years to become financially free.

You don't have to work until you're 65 if you plan out your life better.

It's about spending on what matters to you, and NOT spending on what doesn't matter to you.

[Hadtodoit]

Grew up poor, never had help, now drive a Cadillac as my DD and a Maserati (their top model) for fun.

Still going to be a millionaire in my early 30s and live frugally when compared to income crew. Best of both worlds. Make about $22,000/month (before taxes) and only spend about $1,500 of that on the cars, which I don't plan to do forever and about $1,000/month of that is equity I'll get to keep, so only truly losing about $500/month on cars with a $22,000/month income it's justifiable.

[AdvancedDreamer]

You'd be surprised how many wealthy people ride the NYC subway wearing old clothing. Rich people are frugal and stingy. This is why tax cuts on the wealthy do not amount to more jobs.

[eatmycrackers]

Grew up poor, never had help, now drive a Cadillac as my DD and a Maserati (their top model) for fun.

Still going to be a millionaire in my early 30s and live frugally when compared to income crew. Best of both worlds. Make about $22,000/month (before taxes) and only spend about $1,500 of that on the cars, which I don't plan to do forever and about $1,000/month of that is equity I'll get to keep, so only truly losing about $500/month on cars with a $22,000/month income it's justifiable.

Well on paper the cost is 500 but don't forget your depreciation if they're relatively new they'll depreciate quick, and if the Masi is newer it'll be pretty deep on the depreciation curve soon. Sounds like you know about finance so hopefully you bought these a few years old, either way enjoy man!

[kovalchuk71]

nvm

[themiscwiz]

Grew up poor, never had help, now drive a Cadillac as my DD and a Maserati (their top model) for fun.

Still going to be a millionaire in my early 30s and live frugally when compared to income crew. Best of both worlds. Make about $22,000/month (before taxes) and only spend about $1,500 of that on the cars, which I don't plan to do forever and about $1,000/month of that is equity I'll get to keep, so only truly losing about $500/month on cars with a $22,000/month income it's justifiable.

Oh ****, i remember you and i going back and forth in PM's a bit. good to see youre still well bro. I just got a promotion at work. das it mayne.. How u been? PM on here or LinkedIn.

[Krunk Fu]

Read "The Millionaire Next Door"

It examines the statistical reality of how millionaires in America live. The vast majority of them live very frugal, non consumer lifestyles. They drive entry level used cars, live in lower middle class neighborhoods, and don't buy expensive watches.

The people who drive nice cars, live in nice houses, and live lavishly are mostly people who live beyond their means. This doesn't make them happy, it's just compensation for perceived social inferiority. Nothing is more beta than that. These people will never retire or be able to offer financial security for their family misc. Don't be like that. Live frugally and save/invest the majority of your income

There's a difference between a millionaire who makes decent money but saves and multi-millionaire who makes much more and can save more than a frugal dude. The book really just looks at people with average jobs who are good at managing money.

[Hadtodoit]

Well on paper the cost is 500 but don't forget your depreciation if they're relatively new they'll depreciate quick, and if the Masi is newer it'll be pretty deep on the depreciation curve soon. Sounds like you know about finance so hopefully you bought these a few years old, either way enjoy man!

Lol the whole point of me saying the $1,500 is cost but only $500 is lost is due to depreciation and resale value of the cars. I spend about $1,500/mo including insurance on the two cars (loans) but I'll sell them and regain a portion of that so about only $500 is truly lost. Good that you meant to include that though! Thanks brah

Oh ****, i remember you and i going back and forth in PM's a bit. good to see youre still well bro. I just got a promotion at work. das it mayne.. How u been? PM on here or LinkedIn.

What's up man, congrats on the promotion! Life is good. Message me wherever, glad to hear you're doing well.

[Canadian_Lifter]

It is an excellent book - have read it

America is not a country where it's even remotely relevant; the main theme behind the book is not even valued here in this country

[Jms89]

truth..one of the better reads out there

[BigBlueCouch]

Living below your means removes sooooo much stress from your life though. I feel bad for people that have to worry about every little expense that pops up because they can barely afford their mortgage and car payments. Being able to walk away from your job at any moment without getting all "your" chit repossessed gives you freedom that they'll never know.

Agreed. That being said I hope the millionaire splurges on something at some point. Otherwise what is the point?

[Hadtodoit]

brb super houses in New Almaden (multimillion dollar homes) and you only see old civics in their drive way.

The nice cars are in the garage.

[CommonPheasant]

Age 21, from a book written in 98. Great that this is news to you OP. Not so much for others. Yes, save $ and invest in chit worth investing in. Your next read should be Rich Dad Poor Dad.

Please don't mention that trashy scam book in the same sentence as a legitimate, researched book.

[wincel]

I agree with OP. I know a bunch of miserly rich people, and they all live like cheap bastards. None of them have current tier smart phones. I know one who still has a flip phone. Most have cars nearly a decade old, and all their money is in investments.

[hackfunnigans]

On the fence about this.

I think you need a happy balance in life. I won't buy a Mercedes even though I can, but I will go on 2-3 extravagant trips a year. I won't drop 1000$ a week clubs, but I will drop 1000$ at a club once or twice a year. It's about budgeting properly and then making rational choices. Do you buy the two story penthouse, or the condo a floor below it with the same view and one bedroom less at 65% the price?

[rainclouds55]

I look at it this way, don't live beyond your means, if you can't afford it don't buy just because you want to "keep up with the joneses".

However, enjoy life. You only get one go around, it would suck to work your ass off only to have your distant family spend your wealth.

What I DON'T understand is financing a used out of warranty BMW. Maybe if you can turn a wrench and you pay cash??? still they're junk.

I don't understand buying expensive cars at all, especially at high rates.

[kovalchuk71]

I don't understand buying expensive cars at all, especially at high rates.

Because different people enjoy different things?

I don't see how that's so difficult to understand. It's no different than someone who likes expensive boats or expensive electronics. Life's about engaging in activities one enjoys.

What do you spend $$$ on brah? I assure you that there's someone who doesn't understand why you spend money on it either.

For example, I love cars, and would like to own a couple nice ones in the future. On the other hand, I don't see the point in owning a huge house and would be very content living in a quaint home.

[rainclouds55]

On the fence about this.

I think you need a happy balance in life. I won't buy a Mercedes even though I can, but I will go on 2-3 extravagant trips a year. I won't drop 1000$ a week clubs, but I will drop 1000$ at a club once or twice a year. It's about budgeting properly and then making rational choices. Do you buy the two story penthouse, or the condo a floor below it with the same view and one bedroom less at 65% the price?

Ah the relevant analogy here..

[BeerCalories]

Anyone who is a millionaire and lives frugally is fukin idiot and socially inept. Driving an Alero and wearing ratty t-shirts isn't gonna help you or anyone else in life. It just shows you're fukin cheap and don't understand how the world works. INB4 rustled jim jams.

If you aren't gonna do something useful with your fukin money, then maybe you should open up a scholarship or send family members to college. If you have millions of dollars that you aren't using you're probably boring, lack creativity, and probably miserable. JK I don't care what you do with your money.

Living frugally to just hope you are a millionaire one day or simply to have stacks of cash is dumb. What's the point in living life if you don't splurge once in a while, take a vacation to Fiji, fly to Vegas on a Tuesday night and come back Wednesday morning. I know too many people with too much money that don't do anything useful with it. They never help anyone, volunteer or even get involved with the community. It's sad and pathetic. JK I don't care.

Why would you go on vacation or splurge when you could just give it to charity instead?

[WhirlwindTobias]

Why would you go on vacation or splurge when you could just give it to charity instead?

A lot of charities are corrupt, so he wouldn't know where the money would be going for starters.

Lol at fadetoblack bragging when he's put himself in a crappy marriage. Sure you're not a slave to corporations but you're a slave to your wife. I know which is worse.

In regards to the OP I knew when I moved here I would earn less money and at the moment have hardly any opportunity for enjoying the expat lifestyle, but I have easier access to mountains, I exert more control on my work (I teach), and I dont deal with entitled teens/young adults, political correctness etc. And that stuff has no price.

[RainingBlood14]

Watch the ESPN 30 for 30 called "Broke"
It shows how fast you can go through a million dollars if you make bad choices.
Yes these are athletes but many business and economic success can peak and fail in a short time as well.
If you spend and invest wisely then a million will last you and your family many generations.
Assets that appreciate over time and tax knowledge will keep you rich

[wedwabbit]

itt people preach what is common knowledge for any decently educated *******


brb rich dad poor dad I'm so much more enlightened than you
brb not even a quarter of a century old giving financial advice