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11-01-2007, 09:59 AM | #89 | |
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11-01-2007, 10:30 AM | #90 |
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I have no proof, but i would imagine a 100k+ goes a long way in Nebraska....I wonder what you could buy house-wise for 250k?property taxes?....from whhat I read, Lincoln's a nice place to live (apart from the cold harsh winters)
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11-01-2007, 10:44 AM | #91 |
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Lincoln is a great place to live, unless you hate the Cornhuskers and weather that changes on a dime. 250k gets you a good house in Nebraska. Last I heard, Warren Buffet's house was somewhere in the range of 250-750.
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11-01-2007, 10:54 AM | #92 |
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the only car you can really afford is one you pay for with cash.
if you want to be wealthy (someday), make a policy of never buying depreciating items with credit. period. another good rule is to not buy a house that is more than twice your gross pretax income. that having been said, i'd guess that i am somewhat older than the expected average age of the 135i owner, at 40. fwiw, i can afford pretty much whatever, but i don't like cars being a significant part of my expenses. |
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11-01-2007, 11:00 AM | #94 | |
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...make no mistake,illness and death of the uninsured and underinsured costs our economy dearly in lost production....socialized medicine IMO is a dismal failure in Canada and UK....it's a horrendous drain on their economies, costs taxpayers an arm and a leg,all while patients have to wait months for the simplest of procedures. 'Other liberal views'.....yeah, like giving gay men and women the same rights and benefits afforded other married couples...such an outrage to consider that 2 men could love and commit to each other equally as a man and a woman could....but then again, the republican party, hijacked by the far right, thinks that homosexuality is a choice and can be "cured" like some disease...... Historians very often surprise me when they rate former presidents. For example, LBJ is widely considered "near great" even though he escalated the Vietnam war almost singlehandedly....Historians will have no problem rating GWB..... his legacy:"mission accomplished"..... "Brownie, youre doing a heck of a job"... "I looked the man in the eye. I found him to be very straight forward and trustworthy and we had a very good dialogue. I was able to get a sense of his soul.He's a man deeply committed" .... "axis of evil"
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11-01-2007, 11:12 AM | #95 | |
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I'm 40 as well, and at 5.5%, I'll be financing the car 60 months, no $ down.....that money will be used in an investment vehicle earning more than the 5.5% over that 60 month period....i dont care about being upside down at any point since we will have the car for at least 10 years...so, while I agree with you on principal, how many people have the $ to plunk down 40k, while still having a healthy cash emergency fund equaling 6 months income.......?also, buying a house only 2x gross income is very conservative....you think thats realistic?even in a depressed housing market where bargains are to be found,you think someone earning 100k could find a property for only 200k in a major city or suburb?.....that doesnt buy you much here in S FL .....
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11-01-2007, 01:10 PM | #96 |
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I couldn't buy the house I'm in now which I bought 9 years ago for 2x my household income and my salary has doubled in the past 9 years. And we are not talking big, 1 car garage and about 1700 sq ft (not including living space in the basement).
Housing has sky rocketed to the point it eats up as much as 50% of a families income. If I were to move today to a slightly larger/newer home in my area with similar amenities I would triple my existing mortgage. |
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11-01-2007, 03:31 PM | #97 | |
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Overextending yourself financially to buy a BMW is just stupidity....
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11-01-2007, 03:38 PM | #98 | |
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11-01-2007, 04:04 PM | #99 | |
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$30,000 less 10% down = $27000 over 48 months at a very nice rate of 6.5% = $640.00 so, without insurance, this car will cost the $45k wage earner 25% of their take home pay if they live in a state without state income taxes.....a youngish driver would expect to pay conservatively $1500 a year for insurance, so total $765....so 30% of take home pay for a car.... this leaves $1815 for housing, food, clothing, gas,investments and all other expenses..... lets see...a renter would expect to pay conservatively $900 a month for a decent 2 bedroom apt, food and entertainment, $600 per month, clothing $50, gas $200 a month rounded (assuming 1250 miles per month driven /20 miles per gal x 3.10 per gall 93 oct)...that leaves $50 for investments, emergencies, any other insurance, including health insurance or AFLAC, electric, water, (I included cable or satellite in entertainment), cellphone, home phone et al real affordable.....
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11-01-2007, 05:34 PM | #100 | |||
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I can use my own money and easily make 10% on it in a year. In fact my annualized return on investments from the past 5 years is 27%. Now, I know that statistically-speaking that is bound to reverse or at least trend way down. But it should average out to something in the 8-10% range over time. Considering that I can borrow money for a car in the 5% range, and it doesn't make a great deal of sense to me to use my own cash when I can use someone's else's while keeping mine to earn me money. As a matter of fact, given my return on investments, instead of paying $40,000 cash for a car, I can make the payments just off the interest I'm earning on that money in my portfolio. So, essentially, that car is "free". If I went and paid cash, not only do I lose the $40,000, I also lose the earnings on that $40,000. If I had paid $40,000 cash for a BMW 5 years go I would have lost $92,000 in earnings that $40,000 generated me over that same time period. $132,000 is a lot of money for a BMW. It is of course a guessing game. You don't always net a return on your investments. But, generally speaking, it's not terribly difficult to exceed the interest rate on the car. In fact, thesedays you can get high-interest savings accounts that will net you about what you'd pay in interest on a car loan. That way you're still borrowing the money for "free" (since it's earning you what you're paying in interest) but you've also still got the $40,000 in the bank in case a rainy day comes along and you really need that cash. Quote:
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11-01-2007, 06:13 PM | #101 | |
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11-01-2007, 06:29 PM | #102 | |
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11-01-2007, 07:46 PM | #103 | |
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:iono: The uninsured already receive hospitalization. There are other organization beside the government that will help with the needs of the poor. You taken the stance that since we can fight a war, it's also part of the Governments job to takes car of it's citizens. Sorry that is not the case, they are provided with equal oppertunity...! If they are unable or unwilling to take advantage of this great countries framework, then they can go work for the goverment in Canada, and receive free healthcare. Sure the money over in Iraq could be can be used instead, to fund the uninsured... but again, thats not the Governments job. As for the Republican or Democrate debate... This country needs to get back to basics. Shore up borders, impose some tarrifs on imbalanced trade countries and forget about Forien policy for the next 10 years. Let the rest of the wrold deal with Al'Qaeda, Iran and other world plights. We need to rebuild our infrastructure and use of alternative energies. Do that for 10 years... Let the rest of the world uphold civil rights and defend Demacracy. Let Spain, France, Autralia, Columbia, Germany, Japan, China..etc intervene in world "hot spots". Let them flip the bill and become a world leader. While the US sits back and laughes at all the money were are saving. Let the UN beg us for intervention of stopping neclear arms, etc. Hell, France might even pop it's head up and notice there is more on this globe than just themselves..! It's so easy for other countries to just let the US handle all these affairs, then critique, when all doesn't go as planned. |
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11-01-2007, 07:55 PM | #104 |
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I (oh this is gonna hurt a little) agree with Garrett on most of his points.
And by the way, the military offers a good health care plan. Not that I would really want to fight alongside most of the freeloaders asking for a hand out. But maybe they could gain some discipline. Or they could just keep popping out babies (who they know will be uninsured) and pulling in those wellfare checks... cha-ching baby!
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11-01-2007, 07:56 PM | #105 | |
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11-01-2007, 08:12 PM | #106 | |
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'well, americans: what, nothin' better to do? why don't you kick yourself out? you're an immigrant too. who's usin' who? what should we do? well you can't be a pimp and a prostitute too' The White Stripes
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11-01-2007, 08:29 PM | #107 | |
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I appreciate your effort, but a 6.9% rate is laughable. My last BMW I had 2.9% I did say financially resposnible people. Whom, might have already invested in the stock market at an early age, could have their house payed off and their disposable income is greater than people making alot more. I'm just saying it's hard to "generalize" who can afford a $30k car. BTW, my payments for a $49,ooo BMW 330ci, was only $560/month... so there is more that goes into "owning" and "affording" than just your figures. |
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11-01-2007, 08:33 PM | #108 | |
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11-01-2007, 08:34 PM | #109 | |
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Many people dismiss the oath these people undure for our freedoms! :respekt: -Garrett |
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11-01-2007, 08:39 PM | #110 | |
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Again.. I have not turned my back on little children, I give weekly out of my paycheck to several charities. Secondly, if those children are that destitute, then the people who failed them are their PARENTS! Not the Government. More and more people are relying on the Government. Michigan cut out our weflare programe 10 years ago, guess what.... some 30,000 people got jobs or took advantage of free schooling. If you learn not to hunt for your food, you become reliant on hand-outs. The government dos not exsist to suckle, nest and feed their citizens. Yes, every person in this country has hospitalization. How can you not know this. Walk into any emegency room with no wallet and amnesia... By Federal law, they have to treat you! |
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