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F10 / F11 (2011 - Current)
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  #151  
Old 09-12-2012, 11:07 PM
Beemerican Beemerican is offline
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  #152  
Old 09-13-2012, 06:06 AM
The X Men The X Men is offline
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  #153  
Old 09-13-2012, 06:22 PM
dex2003 dex2003 is offline
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Quote:
Originally Posted by goldbergx View Post
When people see someone in a car... I think they would guess the following

Japanese/American car -> Less than $100k/year income
small German car or Japanese premium -> $100k+
midsize German car -> $200k+
big German car -> $300k+
Italian or German sport car -> $500k+

So feeling just right/guilty/too modest is all up to us.....
In my mind it's actually
big German car -> $500k+
Italian sport car -> $1M+

But maybe I'm just a bit on the conservative side. I never even considered buying any german car when our family income was less than 200K, and we didn't even have our daughter then. Our cars then were a 2009 Acura TSX (my wife's) and a 2005 CR-V.
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  #154  
Old 09-13-2012, 06:40 PM
passer68 passer68 is offline
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Quote:
Originally Posted by dex2003 View Post
in my mind it's actually
big german car -> $500k+
italian sport car -> $1m+

but maybe i'm just a bit on the conservative side. I never even considered buying any german car when our family income was less than 200k, and we didn't even have our daughter then. Our cars then were a 2009 acura tsx (my wife's) and a 2005 cr-v.
+1
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  #155  
Old 09-14-2012, 06:53 AM
goldbergx goldbergx is offline
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Quote:
Originally Posted by goldbergx View Post
When people see someone in a car... I think they would guess the following

Japanese/American car -> Less than $100k/year income
small German car or Japanese premium -> $100k+
midsize German car -> $200k+
big German car -> $300k+
Italian or German sport car -> $500k+

So feeling just right/guilty/too modest is all up to us.....
Quote:
Originally Posted by dex2003 View Post
But maybe I'm just a bit on the conservative side. I never even considered buying any german car when our family income was less than 200K, and we didn't even have our daughter then. Our cars then were a 2009 Acura TSX (my wife's) and a 2005 CR-V.
Acura TSX = Japanese Premium -> $100k+! Spot on~
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  #156  
Old 09-14-2012, 07:30 AM
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LukeS LukeS is offline
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In reality, in the East Coast (NY, NJ, etc..) 250K is doing O.K., however, in most American towns your considered rich.
If you live in Manhatten your middle class at best. Location, location, location...
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  #157  
Old 09-14-2012, 07:44 AM
goldbergx goldbergx is offline
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Quote:
Originally Posted by LukeS View Post
In reality, in the East Coast (NY, NJ, etc..) 250K is doing O.K., however, in most American towns your considered rich.
If you live in Manhatten your middle class at best. Location, location, location...
At $250k/year, in Manhattan, I think you can even get tuition aid for some private schools for your kids, because $250k is considered not enough income....

And Obama wants to increase tax on them!!!!
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  #158  
Old 09-14-2012, 07:49 AM
goldbergx goldbergx is offline
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Quote:
Originally Posted by goldbergx View Post
When people see someone in a car... I think they would guess the following

Japanese/American car -> Less than $100k/year income
small German car or Japanese premium -> $100k+
midsize German car -> $200k+
big German car -> $300k+
Italian or German sport car -> $500k+

So feeling just right/guilty/too modest is all up to us.....
Quote:
Originally Posted by dex2003 View Post
But maybe I'm just a bit on the conservative side. I never even considered buying any german car when our family income was less than 200K, and we didn't even have our daughter then. Our cars then were a 2009 Acura TSX (my wife's) and a 2005 CR-V.
Just a moment, you are now $200k+ and drives BMW 535i?

Well, BMW 535i = midsize German car -> $200k+

The list is working very well!
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  #159  
Old 09-14-2012, 08:15 AM
kirbyj kirbyj is offline
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Income is one measure of a person's wealth, but how much of that income you spend may be a better gauge of retained wealth. I was doing a charity drive yesterday at a local, small market where people pull in to get a few food items, beer, or cigarettes. What I noticed was that the people who were the most generous drove average new and old cars. The three new luxury cars that pulled up, an Audi and two Mercedes, had occupants who gave nothing. No BMW's drove up except me, and I gave a large donation. These luxury drivers were all young people who looked like they stretched their budgets to buy a prestige automobile and had no change left over after they bought their beer and cigarettes which they probably put on their charge card anyway. Instead of just looking at how much money BMW drivers make maybe it would be interesting to see how generous high earning BMW drivers are. How much do you think an average owner gives to church or charity?
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  #160  
Old 09-14-2012, 08:19 AM
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Im waiting for a "surprise" Spain/Italy/Spain crisis update to restart the cycle....
Alright Roubini...do your magic!!
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  #161  
Old 09-14-2012, 08:28 AM
jjsC6 jjsC6 is offline
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Quote:
Originally Posted by LukeS View Post
My bottom line is this on any car purchase, at any income level.
If your questioning it, don't buy it. If it means that much to you, plan for it, work harder and be patient. Don't kill your finances over a car.

Top 10 leading indicators the car is too expensive for you:
1) You tell yourself, I'm going to keep this car for 10 years.
2) You consider selling your stock options prematurely for money down.
3) You're wondering how to convince your spouse this is a logical purchase.
4) You're thinking of impractical ways to save money, like drinking or golfing less, while your drinking and/or golfing.....yes I added the "and"
5) You gain the ability to convert interest rates into payments…..mentally.
6) You're on the car builder "daily" continuing to re-evaluate and sacrificing options you wanted.
7) You start looking into home equity loans.
8) You tell yourself that retirement savings is over rated - you CAN live on $2500 a month SS
9) You are pretty sure your 1 year old son will get a full ride scholarship because he can already say "da-da"
10) You will save the monthly payment difference by driving slower and improving your gas mileage by $75 a month
HELP!! I need three more!!!
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  #162  
Old 09-14-2012, 08:59 AM
dex2003 dex2003 is offline
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Quote:
Originally Posted by goldbergx View Post
Just a moment, you are now $200k+ and drives BMW 535i?

Well, BMW 535i = midsize German car -> $200k+

The list is working very well!

You're right, I'm now 200K+, but I didn't say if I was 300K+ or 500K+!
Again, that's just me. I'm 36 and my wife and I are only a few years into our respective medical practices. We're fortunate enough not to have any school loans to pay at this point. However, when I think of how much I need to save for my 3 yr old daughter's education (what if she wants to go to med school?!), retirement, house, etc. I can't help but be conservative. If I were closer to retirement and my child almost done with her education, sure, I'd probably be getting a Porsche 911 tomorrow!

And almost all days I still drive my 2005 CR-V to work.

Last edited by dex2003; 09-14-2012 at 09:07 AM.
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  #163  
Old 09-14-2012, 09:12 AM
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TXSTYLE TXSTYLE is offline
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Quote:
Originally Posted by goldbergx View Post
At $250k/year, in Manhattan, I think you can even get tuition aid for some private schools for your kids, because $250k is considered not enough income....

And Obama wants to increase tax on them!!!!
LMAO! Is it Obama's fault you/they choose to live in a "overpriced for everything" part of the country?
That's right about where I am financially and my family of four live "quite well" here in Plano, TX.
Cost of living beating you down? Move!

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  #164  
Old 09-14-2012, 09:42 AM
Emilner Emilner is offline
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Quote:
Originally Posted by TXSTYLE View Post
LMAO! Is it Obama's fault you/they choose to live in a "overpriced for everything" part of the country?
That's right about where I am financially and my family of four live "quite well" here in Plano, TX.
Cost of living beating you down? Move!

BigMarcus ~ EVO 4G LTE
No, but the problem is Obama groups the entire nation under one classification. You cannot say a person making $250k a year in metro ny is wealthy. To some people in the country that might sound ridiculous but in metro NY you are comfortable, in NYC you are on the verge on lower middle class- just making it. People don't complain about living here, they want to, they just don't want the fuehrer telling them they are f!?king rich and need to stop leaching on the nation, that need to pay their fair share. $250k in the coastal US and $250k in middle America are two completely different income classes....
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  #165  
Old 09-14-2012, 09:46 AM
goldbergx goldbergx is offline
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Quote:
Originally Posted by dex2003 View Post
You're right, I'm now 200K+, but I didn't say if I was 300K+ or 500K+!
Again, that's just me. I'm 36 and my wife and I are only a few years into our respective medical practices. We're fortunate enough not to have any school loans to pay at this point. However, when I think of how much I need to save for my 3 yr old daughter's education (what if she wants to go to med school?!), retirement, house, etc. I can't help but be conservative. If I were closer to retirement and my child almost done with her education, sure, I'd probably be getting a Porsche 911 tomorrow!

And almost all days I still drive my 2005 CR-V to work.
Depending on which medical practice and also location, but where I live, most doctors get 911 before they turn 40, and they usually trade in their old Honda or Toyota.... I am foreseeing your future young man..

Well, when my family income was $200k+, we drove a 2003 Honda Accord... and due to our newborn son and the package we needed to haul around (stroller, diaper bag, etc etc), I was looking SUVs like Toyota Highlander, CX9, Passport, until my friend told me

"Man, you can easily afford a Q7.... come on..."

So I did some arithmetic, and he was right! That's how I got my first Bimmer, 2008 X5... (paid in cash too) and never looked back.

All you need to get a 911 in 4 years is probably not more money, but a little motivation from people around you....
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  #166  
Old 09-14-2012, 09:51 AM
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dunderhi dunderhi is online now
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Quote:
Originally Posted by kirbyj View Post
These luxury drivers were all young people who looked like they stretched their budgets to buy a prestige automobile and had no change left over after they bought their beer and cigarettes which they probably put on their charge card anyway. Instead of just looking at how much money BMW drivers make maybe it would be interesting to see how generous high earning BMW drivers are. How much do you think an average owner gives to church or charity?
We aren't young anymore, we buy everything on our rewards charge card (which we pay off every month), we don't buy beer or cigarettes, but we do donate roughly $300-400/mo to charities and maybe $10/yr to churches. So, I would bet we aren't typical, but I'm not sure if our donation mix puts us in the or category.
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  #167  
Old 09-14-2012, 09:55 AM
goldbergx goldbergx is offline
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Quote:
Originally Posted by goldbergx View Post
When people see someone in a car... I think they would guess the following

Japanese/American car -> Less than $100k/year income
small German car or Japanese premium -> $100k+
midsize German car -> $200k+
big German car -> $300k+
Italian or German sport car -> $500k+

So feeling just right/guilty/too modest is all up to us.....
Quote:
Originally Posted by kirbyj View Post
These luxury drivers were all young people who looked like they stretched their budgets to buy a prestige automobile and had no change left over after they bought their beer and cigarettes which they probably put on their charge card anyway.
Those are the ones who should feel guilty with their overspending... I'd even go -> they are pretending to be affluent, fake Yuppies!!!

But it's how they spend their money, and it's entirely up to them. Let's not judge or call names at them...

Last edited by goldbergx; 09-14-2012 at 09:57 AM.
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  #168  
Old 09-14-2012, 10:06 AM
goldbergx goldbergx is offline
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Originally Posted by emilner View Post
no, but the problem is obama groups the entire nation under one classification. You cannot say a person making $250k a year in metro ny is wealthy. To some people in the country that might sound ridiculous but in metro ny you are comfortable, in nyc you are on the verge on lower middle class- just making it. People don't complain about living here, they want to, they just don't want the fuehrer telling them they are f!?king rich and need to stop leaching on the nation, that need to pay their fair share. $250k in the coastal us and $250k in middle america are two completely different income classes....
+1000
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  #169  
Old 09-14-2012, 10:11 AM
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LukeS LukeS is offline
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Originally Posted by TXSTYLE View Post
LMAO! Is it Obama's fault you/they choose to live in a "overpriced for everything" part of the country?
That's right about where I am financially and my family of four live "quite well" here in Plano, TX.
Cost of living beating you down? Move!

BigMarcus ~ EVO 4G LTE
You need to consider what Manhattan offers; the best restaurants, great night life, best entertainment, etc... and most importantly the highest earning potential in several respective disciplines. Personally, I would never live there, let alone raise a family there, but I can understand the allure and the cost of living. You pay for what you get.
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  #170  
Old 09-14-2012, 10:24 AM
solstice solstice is offline
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Quote:
Originally Posted by Emilner View Post
No, but the problem is Obama groups the entire nation under one classification. You cannot say a person making $250k a year in metro ny is wealthy. To some people in the country that might sound ridiculous but in metro NY you are comfortable, in NYC you are on the verge on lower middle class- just making it. People don't complain about living here, they want to, they just don't want the fuehrer telling them they are f!?king rich and need to stop leaching on the nation, that need to pay their fair share. $250k in the coastal US and $250k in middle America are two completely different income classes....
Agree and we are not just talking Manhattan, Beverly Hills and Pacific Heights. It's most coastal cities including Seattle. $250k for a family is nowhere near rich after basics as school fees, college and retirement savings has been payed. There is no room for a wealthy man's home and habits. The break point should at least be a million if you want to tax "the rich" and not endup punish large part of the middle class who prudently plan for their kids and retirement.

Last edited by solstice; 09-14-2012 at 11:22 AM.
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  #171  
Old 09-14-2012, 11:20 AM
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LukeS LukeS is offline
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The 250 mark maximizes tax dollars without impacting vote count...
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  #172  
Old 09-14-2012, 11:33 AM
Emilner Emilner is offline
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Quote:
Originally Posted by solstice View Post
Agree and we are not just talking Manhattan, Beverly Hills and Pacific Heights. It's most coastal cities including Seattle. $250k for a family is nowhere near rich after basics as school fees, college and retirement savings has been payed. There is no room for a wealthy man's home and habits. The break point should at least be a million if you want to tax "the rich" and not endup punish large part of the middle class who prudently plan for their kids and retirement.
Agreed, I used NYC as an example because it is the top of the range, but many coastal US cities also qualify (and a few non- such as cities in Colorado).

Quote:
Originally Posted by LukeS View Post
The 250 mark maximizes tax dollars without impacting vote count...
EXACTLY....
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  #173  
Old 09-14-2012, 12:04 PM
The X Men The X Men is offline
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I can see this thread is full of republicans who are making $250,000 or above and consider them self middle class
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  #174  
Old 09-14-2012, 12:51 PM
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I can see this thread is full of republicans who are making $250,000 or above and consider them self middle class
Depending on the Academic Model, that may not be an incorrect statement.

Class in the contemporary United States
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  #175  
Old 09-14-2012, 04:05 PM
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I can see this thread is full of republicans who are making $250,000 or above and consider them self middle class
I can't speak for everyone, but I define myself as:
A country loving American who has worked hard and contributed to the success of this nation, who feels privileged to live here, not entitled.

If I don't have time to say all that....I just say "I'm Republican".
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