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Iso
by AustinC. 05/21/24 05:01 PM
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14 registered members (Hester, UA Hunter, dave260rem!, BC_Reb, Okalona, Shane99, CouchNapper, trlrdrdave, Jmkiper, SouthBamaSlayer, Tree Dweller, Ruger7mag, 2 invisible),
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Key:
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Re: How much money
[Re: Remington270]
#1564443
12/16/15 06:10 AM
12/16/15 06:10 AM
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Joined: Sep 2015
Posts: 9,541
Montgomery, AL
jbc
14 point
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14 point
Joined: Sep 2015
Posts: 9,541
Montgomery, AL
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The problem is if a person makes $100k, they want a $250k house. If they make $200k, they want a $450k house. Like the old saying, the more you make the more you spend. This is "almost" universally true. It's why no one, no matter how much they make, thinks they make enough. I heard the Dave Ramsey show the other day where a couple made $120K combined just bought a $62K Tahoe. They'd have to work for over 6 months just for one car! Not counting additional interest accruing. That's why you spread it out over 60 payments,... also it's not like it was going to disintegrate,.. they would then own the Tahoe and could sell it at any point.
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Re: How much money
[Re: jbc]
#1564467
12/16/15 06:19 AM
12/16/15 06:19 AM
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Joined: Nov 2011
Posts: 21,806
USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,806
USA
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The problem is if a person makes $100k, they want a $250k house. If they make $200k, they want a $450k house. Like the old saying, the more you make the more you spend. This is "almost" universally true. It's why no one, no matter how much they make, thinks they make enough. I heard the Dave Ramsey show the other day where a couple made $120K combined just bought a $62K Tahoe. They'd have to work for over 6 months just for one car! Not counting additional interest accruing. That's why you spread it out over 60 payments,... also it's not like it was going to disintegrate,.. they would then own the Tahoe and could sell it at any point. Yeah, but it's a depreciating asset. The other spouse probably has a $30K car. After 10 years, that $90K will be worth almost nothing. Dave's point was that you should invest in things that go up in value, not down.
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Re: How much money
[Re: Remington270]
#1564477
12/16/15 06:27 AM
12/16/15 06:27 AM
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Joined: Sep 2006
Posts: 2,685
West Florida
westflgator
10 point
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10 point
Joined: Sep 2006
Posts: 2,685
West Florida
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The problem is if a person makes $100k, they want a $250k house. If they make $200k, they want a $450k house. Like the old saying, the more you make the more you spend. This is "almost" universally true. It's why no one, no matter how much they make, thinks they make enough. I heard the Dave Ramsey show the other day where a couple made $120K combined just bought a $62K Tahoe. They'd have to work for over 6 months just for one car! Not counting additional interest accruing. That's why you spread it out over 60 payments,... also it's not like it was going to disintegrate,.. they would then own the Tahoe and could sell it at any point. Yeah, but it's a depreciating asset. The other spouse probably has a $30K car. After 10 years, that $90K will be worth almost nothing. Dave's point was that you should invest in things that go up in value, not down. You want a 62K car go out and make a 62K investment that has enough positive cash flow to pay for it, or at least most of it with the monthly income. Then when the 60 months is up you still have an investment paying you and you still have the practically worthless vehicle as well. 
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Re: How much money
[Re: akbejeepin]
#1564563
12/16/15 07:49 AM
12/16/15 07:49 AM
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Joined: Nov 2015
Posts: 14,122
Chilton County
MarksOutdoors
Booner
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Booner
Joined: Nov 2015
Posts: 14,122
Chilton County
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Just live within your means no matter what your income level. Kareem Abdul Jabbar, Mike Tyson, Michael Vick, Curt Schilling and Lawrence Taylor have all filed for bankruptcy.
"The true soldier fights not because he hates what is in front of him, but because he loves what is behind him."
-G. K. Chesterton
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