I used to be a billionaire and had a collection of over 700 exotics. However, I owned an Investment Bank, and some rogue trader went crazy and bankrupted my Firm and I ended up on the streets.
Fortunately I have a super hot secretary who I repurposed as a call girl, and I was able to pimp her out for $30, then went to the local casino on the Indian Reservation, and while gambling the $30, I won $500.
I then went to a gun shop and traded the $500 for a gun. Then I happened to be walking down the street, when some former trader from my bankrupt bank is driving by in a brand new 550i. I couldn't let that stand, so I pulled the gun, stopped the car. Pulled the bastard out, killed him, and took the car.
Then I heard some other bastard is getting an M5 next week, so I'm planning to jack him too.
Not too get political or anything, but gross income means nothing these days.
After your medical deductions, dependent care, FSA's, you are left with adjusted gross from which 8% goes to pay current retirees on SS, 30% or more to uncle Sam and the remaining to BMWFS
No kidding...I try to put my wife in her place at times and then she throws on those pumps and skimpy clothes and its no contest....I lose that battle every time
She's definitely the breadwinner in my household and I'm the only one working:dunno:
If Obama is voted out of office I guess I have to get a job and not live off entitlements such as 144 weeks of unemployment, did I just make a political statement:yikes:
Based on a financial advisory I read, people should spend no more then 10% of their monthly income on a car payment(s). So at 60K a year, this is $500 a month max. So over five years this is about a 30K car at today's interest rates. He is at ~20% assuming he put little down, however, if he is young and single, has no dependents, then why not. When I was in my early 20s, I had a M3 and it was well over my head financially, but I was able to swing it, I loved and enjoyed the car, and it got me laid countless times. So it was well worth the investment. I could have done things differently but at the expense of living. In fact, that purchase helped give me the balls to take bigger investment chances and led me to a better place financially.
IIIF10III, this thread I believe was mocking the "what do you wear on your wrist thread", so don't sweat it. Asking a person for their gross income is a little personal and uncomfortable, even for the richest, and you won't get a straight answer regardless, so your quest is pointless. What's important is that your comfortable with your own finances and make the large purchase well worth the money!!! Congrats and Good Luck!!
There is a massive difference in cost of living from one region to another which will completely change how the numbers come out. Personal finances also play a huge roll. A person owns their home outright vs someone heavy in mortgage debt there will have a lot more disposable income...
Exactly. Depending on your region, you may get more bang for your buck. Real estate has been very stable in where we live. Don't forget property taxes! That's forever.
You obviously don't live in America!
(I kid...I kid...)
The point on region of America and Cost of Living is well made. I've recently been looking at homes in the Bay Area (lightly considering a relocation opportunity). If space aliens moved my house from the ATL to the San Jose area, it would be worth in excess of $4M. That would put a damper in my car slush fund.
My gross income is irrelevant in the equation. What is relevant is what my wife lets me spend of my paycheck.
I wish I could afford an F10. My $80k E70 and my wife's $63k E89 are hindering my dreams! Great advice on here. Perhaps pimping her out, shooting the John's and selling their cars, playing the numbers and letting it ride while I secure my overseas income from uncle Sam might work for me as well. I was totally going about this all wrong. Thanks everyone!!
So we are supposed to take financial advise from Stealth.Pilot? No offense, but this is a guy who buys a 550 with evey option available, and then decides to sell a year later to buy the M5. Talk about financial suicide. He is going to take a bath on the resale of the 550. Why not just lease the 550 and then buy the M5? Good luck getting your money back for that all leather dash.
I would not recommend taking financial advice from a BMW forum. The notion that you even mention such a thing is ridiculous.
However I am not certified to give financial advice so you can ignore my comments at your leisure.
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