DFD

wap wrote: ↑Wed Nov 13, 2019 9:20 pm

max225 wrote: ↑Wed Nov 13, 2019 8:20 pm

I don't think the average "new car buyer" is also "average person with <5K in savings" they are two different pools of people.

https://hedgescompany.com/blog/2019/01/ ... hics-2019/

Looks like boomers are buying new.

Also it looks like 40% make over 100k
31% of 's make <50k which have no business buying.



And 93% are home owners...

These people are rich!

$80k/yr is rich?

wap wrote: ↑Wed Nov 13, 2019 9:20 pm

max225 wrote: ↑Wed Nov 13, 2019 8:20 pm

I don't think the average "new car buyer" is also "average person with <5K in savings" they are two different pools of people.

https://hedgescompany.com/blog/2019/01/ ... hics-2019/

Looks like boomers are buying new.

Also it looks like 40% make over 100k
31% of 's make <50k which have no business buying.



And 93% are home owners...

These people are rich!

$80k/yr is rich?

Huckleberry wrote: ↑Wed Nov 13, 2019 8:00 pm

Johnny_P wrote: ↑Wed Nov 13, 2019 3:56 pm

Not everyone is rich

I don't think it takes a fat bank account to get a car loan.

Apex wrote: ↑Wed Nov 13, 2019 1:04 pm I’m that made the list twice this year.

fledonfoot wrote: ↑Wed Nov 13, 2019 10:43 pm

Apex wrote: ↑Wed Nov 13, 2019 1:04 pm I’m that made the list twice this year.

I love that Zil’s goal was to stay off it, Johnny still hasn’t bought a bike or a car, an 86 shows up, the Golf is back, and we’re all just

Business as usual.

I’m firmly on a 2 year depreciation suicide schedule. Time to start planning my MY2022 terrible decision.

fledonfoot wrote:

Apex wrote: ↑Wed Nov 13, 2019 1:04 pm I’m that made the list twice this year.

I love that Zil’s goal was to stay off it, Johnny still hasn’t bought a bike or a car, an 86 shows up, the Golf is back, and we’re all just

Business as usual.

I’m firmly on a 2 year depreciation suicide schedule. Time to start planning my MY2022 terrible decision.

fledonfoot wrote: ↑Wed Nov 13, 2019 10:43 pm

Apex wrote: ↑Wed Nov 13, 2019 1:04 pm I’m that made the list twice this year.

I love that Zil’s goal was to stay off it, Johnny still hasn’t bought a bike or a car, an 86 shows up, the Golf is back, and we’re all just

Business as usual.

I’m firmly on a 2 year depreciation suicide schedule. Time to start planning my MY2022 terrible decision.

max225 wrote: ↑Wed Nov 13, 2019 10:14 pm

wap wrote: ↑Wed Nov 13, 2019 9:20 pm

$80k/yr is rich?

I could easily get by on 80k on the outskirts of Austin. With two new cars and a new house at 300k
And wife could stay at home to take care of business

Desertbreh wrote: ↑Wed Nov 13, 2019 11:50 pm

max225 wrote: ↑Wed Nov 13, 2019 10:14 pm

I could easily get by on 80k on the outskirts of Austin. With two new cars and a new house at 300k
And wife could stay at home to take care of business

Which is?

max225 wrote: ↑Wed Nov 13, 2019 10:14 pm

wap wrote: ↑Wed Nov 13, 2019 9:20 pm

$80k/yr is rich?

I could easily get by on 80k on the outskirts of Austin. With two new cars and a new house at 300k
And wife could stay at home to take care of business

wap wrote: ↑Thu Nov 14, 2019 1:13 pm

max225 wrote: ↑Wed Nov 13, 2019 10:14 pm

I could easily get by on 80k on the outskirts of Austin. With two new cars and a new house at 300k
And wife could stay at home to take care of business

Sure, YOU can. You've got massive bank socked away. By what metric is $80k/yr considered "rich", ?

Or maybe "rich" needs to be defined first.
Do we already have a powl for this?

max225 wrote: ↑Thu Nov 14, 2019 1:53 pm Here is the budget:
John Doe
Welder
Pre tax income 80k
Benefits 2 weeks vacay + employer subsidized health insurance.
22% Tax bracket/No state income tax, plenty of deductions.
Effective tax rate should be at or below 10%
10% pre tax 401k
~63k take home income

$5250 disposable income.
3 years of saving resulted in a 20% down so there is no PMI
30 year mortgage is $1599 including Insurance+prop taxes
$3650 left for groceries/car etc.
Gas is cheap so $250 for fuel
$350 a month x2 for two cars
1k for groceries/eating out
$500 a month for random splurges and
$500 a month for a rainy day fund.
and $700 left to burn on hookers or blow.

Plenty of room in the budget and frankly that doesn't sound like a bad life to me.

D Griff wrote: ↑Thu Nov 14, 2019 3:03 pm

max225 wrote: ↑Thu Nov 14, 2019 1:53 pm Here is the budget:
John Doe
Welder
Pre tax income 80k
Benefits 2 weeks vacay + employer subsidized health insurance.
22% Tax bracket/No state income tax, plenty of deductions.
Effective tax rate should be at or below 10%
10% pre tax 401k
~63k take home income

$5250 disposable income.
3 years of saving resulted in a 20% down so there is no PMI
30 year mortgage is $1599 including Insurance+prop taxes
$3650 left for groceries/car etc.
Gas is cheap so $250 for fuel
$350 a month x2 for two cars
1k for groceries/eating out
$500 a month for random splurges and
$500 a month for a rainy day fund.
and $700 left to burn on hookers or blow.

Plenty of room in the budget and frankly that doesn't sound like a bad life to me.

Saving $60k cash three years with multiple cf on $80k pre tax?

Also insurance for a family is like $1k/month after company subsidy in most cases.

I mean, you could live off that, but having been in a domestic partnership of sorts at $100k/year sans CF... it was aight but not rich.

I’d say rich is like Troy level and up...

max225 wrote: ↑Thu Nov 14, 2019 1:38 pm

wap wrote: ↑Thu Nov 14, 2019 1:13 pm

Sure, YOU can. You've got massive bank socked away. By what metric is $80k/yr considered "rich", ?

Or maybe "rich" needs to be defined first.
Do we already have a powl for this?

It was sarcasm to some extent. I am saying that it is completely possible to live on 80k in a lot of the flyover states. Complete with house and new cars

D Griff wrote: ↑Thu Nov 14, 2019 3:03 pm

max225 wrote: ↑Thu Nov 14, 2019 1:53 pm Here is the budget:
John Doe
Welder
Pre tax income 80k
Benefits 2 weeks vacay + employer subsidized health insurance.
22% Tax bracket/No state income tax, plenty of deductions.
Effective tax rate should be at or below 10%
10% pre tax 401k
~63k take home income

$5250 disposable income.
3 years of saving resulted in a 20% down so there is no PMI
30 year mortgage is $1599 including Insurance+prop taxes
$3650 left for groceries/car etc.
Gas is cheap so $250 for fuel
$350 a month x2 for two cars
1k for groceries/eating out
$500 a month for random splurges and
$500 a month for a rainy day fund.
and $700 left to burn on hookers or blow.

Plenty of room in the budget and frankly that doesn't sound like a bad life to me.

Saving $60k cash three years with multiple cf on $80k pre tax?

Also insurance for a family is like $1k/month after company subsidy in most cases.

I mean, you could live off that, but having been in a domestic partnership of sorts at $100k/year sans CF... it was aight but not rich.

I’d say rich is like Troy level and up...

D Griff wrote:

max225 wrote: ↑Thu Nov 14, 2019 1:53 pm Here is the budget:
John Doe
Welder
Pre tax income 80k
Benefits 2 weeks vacay + employer subsidized health insurance.
22% Tax bracket/No state income tax, plenty of deductions.
Effective tax rate should be at or below 10%
10% pre tax 401k
~63k take home income

$5250 disposable income.
3 years of saving resulted in a 20% down so there is no PMI
30 year mortgage is $1599 including Insurance+prop taxes
$3650 left for groceries/car etc.
Gas is cheap so $250 for fuel
$350 a month x2 for two cars
1k for groceries/eating out
$500 a month for random splurges and
$500 a month for a rainy day fund.
and $700 left to burn on hookers or blow.

Plenty of room in the budget and frankly that doesn't sound like a bad life to me.

Saving $60k cash three years with multiple cf on $80k pre tax?

Also insurance for a family is like $1k/month after company subsidy in most cases.

I mean, you could live off that, but having been in a domestic partnership of sorts at $100k/year sans CF... it was aight but not rich.

I’d say rich is like Troy level and up...

troyguitar wrote: ↑Thu Nov 14, 2019 8:26 pm

D Griff wrote:
Saving $60k cash three years with multiple cf on $80k pre tax?

Also insurance for a family is like $1k/month after company subsidy in most cases.

I mean, you could live off that, but having been in a domestic partnership of sorts at $100k/year sans CF... it was aight but not rich.

I’d say rich is like Troy level and up...

Don't you make the same as us?

We do spend about $8k a year on healthcare for the 2 of us

wap wrote: ↑Thu Nov 14, 2019 8:21 pm

max225 wrote: ↑Thu Nov 14, 2019 1:38 pm

It was sarcasm to some extent. I am saying that it is completely possible to live on 80k in a lot of the flyover states. Complete with house and new cars

Agreed that it's possible, sure, but $80k/yr ain't rich.

Huckleberry wrote: ↑Fri Nov 15, 2019 10:08 am

wap wrote: ↑Thu Nov 14, 2019 8:21 pm

Agreed that it's possible, sure, but $80k/yr ain't rich.

Rich? No.

Livable? Absolutely.

wap wrote: ↑Fri Nov 15, 2019 12:08 pm

Huckleberry wrote: ↑Fri Nov 15, 2019 10:08 am

Rich? No.

Livable? Absolutely.

This is what I have been saying. Livable (depending on area), but not rich.

troyguitar wrote: ↑Thu Nov 14, 2019 8:26 pm

D Griff wrote:
Saving $60k cash three years with multiple cf on $80k pre tax?

Also insurance for a family is like $1k/month after company subsidy in most cases.

I mean, you could live off that, but having been in a domestic partnership of sorts at $100k/year sans CF... it was aight but not rich.

I’d say rich is like Troy level and up...

Don't you make the same as us?

We do spend about $8k a year on healthcare for the 2 of us

troyguitar wrote: ↑Fri Nov 15, 2019 1:42 pm Contact lenses alone cost about $500/year for us.

CorvetteWaxer wrote:

troyguitar wrote: ↑Fri Nov 15, 2019 1:42 pm Contact lenses alone cost about $500/year for us.

That's cheap. I'm spending ~$1200/year on contacts for me and the wife is about the same.