BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > General M3 Forum (E90 + E92 + E93)
 
BPM Sport
View Poll Results: Your Gross Income
Less than $30,000 41 6.71%
$30,001 - $40,000 9 1.47%
$40,001 - $50,000 18 2.95%
$50,001 - $60,000 19 3.11%
$60,001 - $70,000 33 5.40%
$70,001 - $80,000 42 6.87%
$80,001 - $90,000 34 5.56%
$90,001 - $100,000 38 6.22%
$100,001 - $120,000 71 11.62%
$120,001 - $140,000 52 8.51%
$140,001 - $160,000 39 6.38%
$160,001 - $180,000 29 4.75%
$180,001 - $200,000 19 3.11%
$200,001+ 167 27.33%
Voters: 611. You may not vote on this poll

Post Reply
 
Thread Tools Search this Thread
      11-29-2012, 01:39 PM   #243
Reznick
First Lieutenant
 
Reznick's Avatar
 
Drives: 2008 M3 ,2000 330
Join Date: Jul 2007
Location: Syracuse NY

Posts: 383
iTrader: (0)

Quote:
Originally Posted by Lemon Jelly M3 View Post
Jeremy Clarkson once said:
"M3 drivers have no friends"
Point proven.
Yeah but thats from Clarkson....& we all no he has no friends
Reznick is offline   United_States
0
Reply With Quote
      11-29-2012, 01:58 PM   #244
jeremyr4
Private First Class
 
Drives: '13 E93 M3
Join Date: Aug 2008
Location: West Los Angeles

Posts: 176
iTrader: (0)

Good points by everyone above. Here's a few more points to consider:

1) Rich Dad Poor Dad suggests that a home is a liability because most of the book (if not all) is focused on cash flow. So, from a cash flow perspective, owning that home COSTS money each year - it doesn't make money. On the other hand, owning a cash flowing asset (like a rental home, if tenanted and managed correctly) MAKES money. So Kiyosaki is suggesting that an ASSET creates positive cash flow while a LIABILITY results in negative cash flow. So that explains why he is able to make the blanket statement that owning a home is a liability - because it results in negative cash flow each year. Of course, that doesn't take into account appreciation/depreciation but that's a whole other story/debate. If you're a cash flow investor like me then you tend to follow these rules, as cash flow is king and any appreciation is "icing on the cake".
2) The ultimate financial freedom is having enough passive cash flow for it to pay not just for your car but also for your rent or primary mortgage. Then other tenants/customers are covering your "liabilities". Of course, if you can have that cash flow cover your liabilities and have additional cash flow to reinvest and compound then you're in a great position. That is why the key to financial freedom is cash flow AND low overhead. Which also explains why I know MANY $200k+ people who own Honda Accords
3) Clearly most of us on this board own M3s because we're enthusiasts (although more people around here in LA own them just for the imagine, which is sad). But, despite the major price increases between the E46 and the E9x when fully optioned, BMW has still priced this car very well compared to the obvious competition (for the most part). For example, one of the most obvious competitors that immediately come to mind and that seems to be the one of the most referenced on these boards is the 991. I cross-shopped the 991 C2S Cab when I bought my '13 E93 M3 and I just couldn't swallow the $50k difference for the slight bump in performance. But I think this gap is likely even more interesting then it seems. I suspect that the M3, C63, and IS-F are all borderline-affordable for a lot of enthusiasts and, despite some incomes below $100k (ie. see the poll results), people decide to take the plunge, which I can completely understand. But if you took this poll on a board of 991 owners then I'm guessing the results would be VERY different (ie. mostly high incomes). So I guess what I'm saying is that the poll results suggest that the manufacturers in this price range have done a good job trying to max out sales price while maintaining decent sales volume. So I guess no one should be surprised by the poll results - you have a lot of people making $200k+ because they can afford the car, you have some in the middle who are borderline, and you have the remaining enthusiasts on the lower end who took the plunge because they love cars. The fact that a lot of younger people are able to stretch their budgets to make an M3 purchase tells the story here, as it's questionable whether they can truly afford it while achieving a balance of spending and savings. That's almost certainly not the case for the 991...
4) DISCLAIMER - I am not a financial advisor so anything I write is just from my perspective as an investor trying to help other investors. Anyone who thinks they can't "afford" a rental property or a cash flow investment because they only have $20k to invest, for example, might want to research syndications. If you're reading this and you have never heard of that term before then you might want to do some reading, as you would be SHOCKED to see that you can afford to own small pieces of even larger commercial real estate investments. Of course, Wall Street doesn't offer them to you because they need to make their commissions on stocks/bonds, but that doesn't mean it's not out there. While syndications require investors to be passive and therefore to give up control, it can be a good solution for someone who is comfortable with giving up control. It's how I got started over 10 years ago, it's how I achieved financial freedom, and it's how I continue to invest today. While this type of investing is clearly NOT a good fit many people, as some understandably don't want to give up control, it can be a good solution for some, like me If none of this makes sense then do some research - it can change your life. Better yet, read Rich Dad Poor Dad, Cash Flow Quadrant, and then research syndications. That's the Trifecta...

That's all for now. I have to get back to investing!
jeremyr4 is offline  
0
Reply With Quote
      11-29-2012, 02:34 PM   #245
kscarrol
Colonel
 
Drives: 2011 E90 M3
Join Date: Jun 2010
Location: New Orleans, LA

Posts: 2,043
iTrader: (0)

Quote:
Originally Posted by LarThaL View Post
3. A lot of baby boomers got where they are due to their work ethic. This is lacking in young people today. Many (not all) people coming into the workforce act entitled and just don't have the same independent initiative and drive. I have seen it again and again, even with young physicians just coming into practice. People are willing to work, but they want a 100% return on a 50% effort.
This! I hate to admit it but with the younger folks I worked with and even the students I teach today, I see it. There are of course plenty exceptions but...
__________________
Current: 2011 Space Grey E90 M3, DCT, Comp. Pkg., Conv. Pkg., everything but Cold Weather Pkg!
Gone: 2008 550, Space Grey, Sports Package, Sport Auto Transmission.
Sold: 2004 545i (U.S.), Steptronic, Silver Gray.
kscarrol is offline   United_States
0
Reply With Quote
      11-29-2012, 07:28 PM   #246
LarThaL
Colonel
 
LarThaL's Avatar
 
Drives: 2011 M3
Join Date: Apr 2011
Location: West Springfield, MA

Posts: 2,486
iTrader: (0)

You know....in this 13 page thread about income, nobody has actually come out and said what they earn outside of the anonymity of the poll. Curious.
__________________
Precision tool: 2011 BMW ///M3
Sledgehammer: 2014 Audi S6

LarThaL is online now  
0
Reply With Quote
      11-30-2012, 06:57 AM   #247
nmehta211
Second Lieutenant
 
Drives: 08 E90 M3
Join Date: Jan 2006
Location: NYC

Posts: 273
iTrader: (1)

Quote:
Originally Posted by Team Plutonium View Post
I'm with Barclays in NYC. I'll PM you the name and requirements after I check with him.
Much appreciated!
__________________

08 E90 M3 Interlagos Blue
99 E36 M3 Cosmos, #2--Sold
99 E36 M3 Cosmos, #1--Sold
nmehta211 is offline  
0
Reply With Quote
      11-30-2012, 08:56 AM   #248
mshab356
Go ///M or go home
 
mshab356's Avatar
 
Drives: a ///Monster
Join Date: Jan 2007
Location: Northern VA

Posts: 730
iTrader: (2)

Quote:
Originally Posted by yoelev
Quote:
Originally Posted by SamS View Post
What about the people whose parents help(ed) with the M3, how should they vote?
there should be a seperate spot that says

"spoiled"
What if they live with their parents but pay for their car??
__________________
2011.5 SG E92 ///M3 6MT | CF kidney grills | IND SG painted side grills w/ tinted lenses | Painted bumper reflectors | TMS 90mm stud kit | Rear fog light mod | Active Autowerke exhaust |

mshab356 is offline   United_States
0
Reply With Quote
      11-30-2012, 10:26 AM   #249
Yugo
Private
 
Drives: M3
Join Date: Aug 2012
Location: USA

Posts: 77
iTrader: (0)

Quote:
Originally Posted by mshab356 View Post
What if they live with their parents but pay for their car??
That's how true players roll
Yugo is offline  
0
Reply With Quote
      11-30-2012, 07:25 PM   #250
LarThaL
Colonel
 
LarThaL's Avatar
 
Drives: 2011 M3
Join Date: Apr 2011
Location: West Springfield, MA

Posts: 2,486
iTrader: (0)

Quote:
Originally Posted by nmehta211 View Post
Much appreciated!
Neel...send that info my way too. My financial manager is a decent guy, reasonably capable, and a friend, but all too often I end up telling him what to do rather than him making me any real money.

The problem with a lot of these financial guys is that they are afraid to make any big moves, because clients will be pissed if they lose money. As such, they play it too safe. They settle for mediocre returns. In any industry, people's skills and abilities are on a bell curve. The key is finding someone who is well ahead of the game in term of knowledge and instincts. I have become more and more a student of the market and am doing better and better on my own.

The point I am really trying to make is that most "financial guys" are not much smarter than you or I. If anyone of reasonable intelligence devotes time and energy to understanding the markets there is good money to be made.

When you approach any financial advisor, ask them what they use for a performance benchmark. If they don't consistently beat that benchmark, then you might as well invest the money yourself in that benchmark's index fund, and be done with it. At least you won't be paying that 1% annual commission. In order to make any financial advisor worthwhile, they need to beat their benchmark by more then what they charge for commission. If they can't do this, move on.
__________________
Precision tool: 2011 BMW ///M3
Sledgehammer: 2014 Audi S6

LarThaL is online now  
0
Reply With Quote
      11-30-2012, 08:10 PM   #251
PINHEAD
Motorsport Passion!!!
 
PINHEAD's Avatar
 
Drives: E92M3/997.2RS
Join Date: Feb 2011
Location: Los Angeles

Posts: 975
iTrader: (8)

my god M3 owners are insecure
some of the most superficial opinions Ive ever seen in my life happen on this forum

"omg u dont track ur M3 omg ur not a real enthuaist"
"omg u dont make 7 figures, omg ur poor dont drive an M3"

lol, lot of small penis compensation on this forum
__________________
PINHEAD is offline   Monaco
0
Reply With Quote
      11-30-2012, 08:16 PM   #252
jeremyr4
Private First Class
 
Drives: '13 E93 M3
Join Date: Aug 2008
Location: West Los Angeles

Posts: 176
iTrader: (0)

Pinhead,

I won't comment on your comment but I will say very nice ride (RS). I'm in West LA/Santa Monica. I'm not sure if you're in the area but I will keep an eye out for your car, as there are clearly very few of them, especially Gen 2. I'll never forget my drive in a GT3 Gen 1 - still my favorite drive ever to-date.

Jeremy
jeremyr4 is offline  
0
Reply With Quote
      11-30-2012, 09:11 PM   #253
surlynkid
Captain
 
surlynkid's Avatar
 
Drives: 2013 E92 M3
Join Date: Apr 2012
Location: League City, TX

Posts: 845
iTrader: (1)

Garage List
Quote:
Originally Posted by LarThaL View Post
You know....in this 13 page thread about income, nobody has actually come out and said what they earn outside of the anonymity of the poll. Curious.
eleventy seventy billions dollars per year.
surlynkid is offline  
0
Reply With Quote
      12-01-2012, 12:55 PM   #254
bradleyland
TIM YOYO
 
Drives: 2013 M3
Join Date: Jun 2010
Location: Vero Beach, FL

Posts: 1,356
iTrader: (0)

Garage List
Quote:
Originally Posted by PINHEAD View Post
my god M3 owners are insecure
some of the most superficial opinions Ive ever seen in my life happen on this forum

"omg u dont track ur M3 omg ur not a real enthuaist"
"omg u dont make 7 figures, omg ur poor dont drive an M3"

lol, lot of small penis compensation on this forum
Yeah, they're definitely out there, but there are a few people in this thread who I'm really starting to respect. It's just like life. There are tons of douchebags out there, mixed in with a handful of people you'd actually want to know.
__________________
His: 2013 ///M3 - Interlagos Blue Black M-DCT
Hers: 2013 X3 28i - N20 Mineral Silver / Sand Beige / Premium, Tech
Past: 2010 135i - TiAg Coral Red 6MT ///M-Sport
bradleyland is online now   United_States
0
Reply With Quote
      12-01-2012, 05:21 PM   #255
jeff4598
Lieutenant
 
Drives: 2009 e90 AW/BB lotsa Dinan
Join Date: Jan 2009
Location: new jersey

Posts: 419
iTrader: (0)

Thread proves $ is hotter than sex, at least to you guys-LOL.
jeff4598 is offline  
0
Reply With Quote
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 09:37 AM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST