- Thread Starter
- #31
Originally posted by blackgeltabs No not if you plan on living the life where you will buy your kid a M5. Wait just wait till you get older you will start understanding more. Ask any older person here(or in general) if they were to make 200K if they would have the "spare" cash to buy a M5.
But lets see if you will:
Do you own your own business and work for someone?
Are you putting money away for a college fund?
Where do you live?
Whats your present college debt you will have?
and this is making 200K take home.
Also the spending money unwisely comment, of which things I stated was "unwise"
i already did ask an older person. my neighrbor is 40 years old, makes $85,000 a year after tax, owns a 2003 Acura TL Type S and a 2003 Lexus GS 300, and owns a $450,000 house. i asked him if he will have money left to buy his son a brand new car. what did he say? he said yes. why did he say yes? because he had already finish paying for the house. car payment for him is only about $1600 a month including the insurance. average monthly paycheck for him is about $7000 after tax. plus, car payment doesn't last forever. he has 4 more years to pay for the car and then he's done. after that, most of his money will go to the back. by the time his son is 18or so, my neigbor will have enough money for him to go to college. not to mention his son is only 10 right now. i doubt it'll take him more than 8 years to gather up college money. $80k isn't even including his wife yet.
my parents make about $50,000 a year TOGETHER. we just moved into this house a month ago and my parents bought the house for $340,000. after we moved in, we spent thousands of dollars to fix up the house. now my parents pay for my sister's insurance (about $1000 every 6 months) plus my sister's car. i of course will have to work for my insurance, but my parents will buy me my car, a 1995 Acura Legend, upwards of $10K. now you say college money? done with that. my parents planned this out BEFORE i was even born. hell, my dad saved up 5 years before he met my mom.
u can do a lot with a little money....just gotta know how to use it.