View Poll Results: How old are you with your G8X? | |||
16-23 | 176 | 31.71% | |
24-35 | 132 | 23.78% | |
36-43 | 129 | 23.24% | |
44-50 | 48 | 8.65% | |
50+ | 70 | 12.61% | |
Voters: 555. You may not vote on this poll |
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02-20-2023, 09:55 PM | #177 | |
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In the situation where you own properties and renting them out so that the rental income will cover for the mortgage repayments, those properties are not considered part of your "networth" until they are fully paid off after the loan term has finished. I own 3 other properties (collectively worth about 4.2 mill AUD) and renting them out. I won't ever considering having title to those properties until they are paid off after my 20-25 year loan terms are over. Under my definition, I have legal title to the house that my wife and I are occupying at the moment and using our income to repay the mortgage repayments together. Once I am well into my 40s and 50s, the properties are paid off, and hopefully the properties have skyrocketed, I will sell them all and buy a Bugatti Chiron and Porsche 918 Spyder. Probably wont afford it then because the Chiron and 918 Spyder would be at least double the price it is today! But a man has got to have goals
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02-20-2023, 10:33 PM | #178 |
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Its always fascinating to see people be so forthcoming about their personal financial status on a forum full of strangers.
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02-21-2023, 07:06 AM | #179 | |
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If it is possible for circumstances to arise (loss of source of income, etc) that would result in a bank evicting you from your home, you do not own the title. This also conflicts with the actual definition of net worth, which is an accounting term with an exact meaning. Net worth is literally total assets minus total liabilities. So any given rental property's contribution to your overall net worth is its market value, minus the remaining amount of any mortgage. Essentially whatever equity you have in the property; or put another way, the cash you would walk away with if you sold the property and used the proceeds to pay off the mortgage. |
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02-22-2023, 06:25 AM | #180 | |
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The properties that you have bought with mortgages from the bank, and using rental income to pay it off on whatever circumstance, negative or positive gearing, should not be counted as part of your networth until you have sold the property, minus whatever you owe the bank.
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02-22-2023, 07:36 PM | #182 |
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.. or, more broadly, how much of our lives we devote to impressing people we don't like -- or even know -- in working to earn income to pay for goods and services that exceed our basic needs. Mind you, a G8x (or any BMW, for that matter) goes way beyond basic transportation. But I own one for how it makes me feel, more so than any image it projects to other drivers.
Last edited by luckylingy; 02-22-2023 at 07:41 PM.. |
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02-22-2023, 08:34 PM | #183 | |
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That said, I can't say the same for when I was younger. I think when I was in my 20's and 30's, it was about the image as much as anything else. That started to change in my 40's. And in my 50's, it's all about how it makes me feel. |
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02-22-2023, 09:59 PM | #184 |
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Biggest ownership group is 16-23 section 😂
Did I wander into the trust fund baby section of bimmerpost , no wonder they absolutely adore the design, half of them have their own pronouns |
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02-22-2023, 10:59 PM | #185 | |
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02-23-2023, 10:47 AM | #186 | |
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I got my license in 1995 and my buddy and I said if either of us ever won the lottery we would buy each other M3s. Neither of us played it once and BMWs quickly fell off our radars until, for me, I bought a 2019 M5 Comp and when the G80 came out I was appalled at the grill, lol. Saw one in person and thought, hey it actually looks kinda cool.....then I bought a G82 and it was super good, now I really like them. I even have a couple kids and a real natural born female wife!! Amazing! To be honest, never even seen a trans around here, I'd imagine the surgery wouldn't hold up riding all these horses we got for gittin around. |
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02-23-2023, 11:02 AM | #187 |
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Let’s check back in 6 months and see the numbers.
Not sure how long grandma will be able to afford her grandsons insurance |
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02-23-2023, 11:44 AM | #188 |
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02-23-2023, 01:02 PM | #189 | ||
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Sorry I didn't go through all 9 pages of the thread...
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Yeah, we're all a bunch of poseurs anyway. The kid in the supply department here at work was quizzing me this morning, "so how many cars do you have, exactly?" and when I tell him that I have two BMWs, he's like, "why"? It's a valid question from someone who makes (I guess) less than $40K a year and lives at home. He's a "kid" because he's under 40. LOL My answer is that each has it's purpose, one a comfortable DD and the other a track monster. And since I actually go to the track, I'm hopefully not in that poseur category.
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