08-25-2023, 07:53 AM | #265 | |
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“The gov doesn’t force you to do anything” Lol. Sure. |
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08-25-2023, 08:28 AM | #266 | |
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You do a little better at a CCRC (Continuing Care Retirement Community), where you gradually transition from Independent Living to Assisted Living, then finally to Skilled Nursing or Memory Care. But you have to be healthy to get in, there are usually multi-year waiting lists for the better facilities, and there is a substantial buy-in. By us it's around $450k for a 2br condo (about what we paid for our 5br/3.5ba house), plus about $9k/mo. I just started looking around for my parents, who are still mostly healthy but starting to decline. Found a beautiful place in San Diego, right off the ocean that I know they'd love. But buy-ins start at $710k. We are absolutely determined that our son will NOT have to deal with such issues for us, so a substantial portion of our "retirement planning" involves making sure we have enough for end-of-life care when the time comes. But clearly I'm here, and you can see the G80 in my sig, so it's not like we deny ourselves everything in pursuit of a single goal. As others have said, it's about balance. You can do both, preparing for later and enjoying today. What tends to lead to less-desirable outcomes is when you tip the scale WAY over to one side of the other--either blowing all your money as it comes in (or before); or saving every penny and never spending on anything non-essential. Last edited by geko29; 08-25-2023 at 08:35 AM.. |
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08-25-2023, 10:15 AM | #267 | |
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And sorry for your parents decline, moving them out of state would most likely be worst for their health but better on the wallet. |
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08-25-2023, 12:08 PM | #268 |
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Untold pages of replies to a poster named lazy bones asking what you make. You cannot make this shit up.
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08-25-2023, 04:48 PM | #269 |
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If you have to ask random strangers on the internet forum how much you need to make to afford anything, you can't afford it.
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08-26-2023, 08:41 PM | #270 |
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Good point, So I now have a question for my own personal.. I’m 23, fair credit and currently make alittle over 60k after taxes, In school long tenure at my workplace with the city and at home with the parents I don’t pay any bills outside of a phone and WiFi. I want a used F90 or F80 or even possibly a G80 ( a pipe dream “.. What should be my realistic limit on the price looking for on said cars?
I personally hate when older folks tell me oh don’t buy a car blah blah because they just reminisce on the bad decisions they made instead of just giving better advice on what or how to do it. I live in a city(NYC) where the transportation sucks and continues to raise in price.. the amount I spend on travel alone would be a car note so I don’t see much of an issue 😂 Opinions? |
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08-26-2023, 09:53 PM | #271 | |
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08-27-2023, 12:05 AM | #273 | |
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Since you're also in NYC I'll use my situation as an example here that should hopefully help you out. For context I'm a 32 year old Senior Software Engineer and my compensation is in excess of 300k when assuming the market isn't pooping on itself. With that, I've been toying with the idea of getting an F90, waiting for the G90, and looking at the '24 F95 with the new S68. All of said vehicles are in the 100-125k range new. I currently have a mortgage between my lady and I, working from home allows me to drive whenever I feel the desire, and currently own my F87 outright so my monthly expenses outside of living expenses I have 5k+ every month going towards my savings. With current interest rates I'd rather wait an entire year and use the money I've made from my stocks to put towards covering 80% of the cost because interest rates are pretty wild, ideally i'd rather just cut a check for the full amount of the vehicle but we all crave to have things a bit sooner right? So with that context of myself out of the way, I'd ask you lets do an exercise if you aren't going to cut a check and look to finance. Crunch out the numbers of what your monthly cost in payment, insurance, estimated gas right, when you find that number just take that out of your monthly income and put it to the side for a month. If you don't miss it cool, do it for three months now. If you manage to make it to three months and you aren't craving the car still try to make it to six months finally. I was sitting and having dinner with some friends thinking about myself and how I'd do things had I needed to finance one of these vehicles in the near future and this was my thought on it. If I could part ways with that money monthly, without owning said item and my life still continue to go on without me ever needing to reach for it or adjusting my lifestyle then I would say that for the excitement it would bring me, I could afford it. Trust it isn't old folks reminiscing on their bad decisions, if I made a bad choice and I see someone I care for do the same shit I'm not about to let them dive first but I get how its communicated can be rather harsh. You don't have much expenses to account for so you could certainly get a G80, enjoy it for a few years but when you'd like to move out and get a place of your own, the numbers are just math at the end of the day, you may end up getting rid of it and getting a less expensive car but at least you'll have the hopefully good memories of being able to own such a machine. A bit long winded but essentially if you're going to do something that most would consider stupid well fuck it, better be worth it that you could look back on it and say I remember when I just bought a G80 and I had no regrets on burning all that i was making on it.. In the grand scheme you'll recover from it and it would only be a detrimental in the long run if you consistently kept making such choices. |
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The_Mad_Shifter130.00 skyline4081605.00 |
08-27-2023, 12:25 AM | #274 | |
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Do whatever makes you happy. Some people get an expensive car and live in it because they can't afford anything else. Think about whats important to you Doesnt matter how much you make. If you have to ask people I make x amount and want x car what do I do, your best bet is to just find the car you want, goto the dealer and let them either make it happen or explain to you what you need to make it happen. Good luck bud. Hope to see you around in one of those cars you like. |
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08-27-2023, 07:18 AM | #276 |
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I'm not going to get into a debate over who should be raising my kids, we spend plenty of time with them. Financially, this suggestion would cost easily cost us 5 figures/mo...(my wife has a very successful career of her own)
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08-27-2023, 12:50 PM | #277 | |
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It’s funny people mention not seeking advice from people on the forums, if we all were a bunch of bums posting random car stuff with no accomplishment behind our names then sure I would be wary. When I see for any new MY model, a new post / thread comes up regarding leasing deals / financing information with people and their approaches on how they got discounts off MSRP, you have to give some bit of credit to us bunch of randoms that actually care to let everyone else know what deals we are getting. |
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08-29-2023, 12:33 AM | #278 | |
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08-29-2023, 12:45 AM | #279 | |
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08-30-2023, 05:04 PM | #280 | |
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Also, do you really want to park your 100K baby on the streets in Queens? Dodge pot holes? Last edited by Diesel power; 08-30-2023 at 05:18 PM.. |
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08-30-2023, 05:25 PM | #281 |
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So many factors are in play that just your income won’t tell you much.
Do you have children? How many? Do you have a mortgage? Do have any loans or credit cards? If you have all of the above then it depends on where you live. Live in CA and you’ll pay more than if you buy in Idaho. Does your significant other works? Do you have daycare? See where I’m going? You could make 40k and afford one if you don’t have the above. If you have all of the above then you may need to make 200k to afford one. |
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08-30-2023, 06:15 PM | #282 | |
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08-31-2023, 09:32 AM | #283 | |
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