BMW M3 Forum (E90 E92)

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


Go Back   M3Post - BMW M3 Forum > BIMMERPOST Universal Forums > Off-Topic Discussions Board
 
European Auto Source
Post Reply
 
Thread Tools Search this Thread
      02-05-2012, 10:00 AM   #23
Feyd
Major
 
Feyd's Avatar
 
Drives: a DEEZZULL
Join Date: Aug 2007
Location: Chicago, IL

Posts: 1,240
iTrader: (2)

LA is a microcosm of warped reality... and you will NEVER be able to keep up, so don't even try.

99% of people in that town are way way way over-leveraged 24hrs away from loosing it all.



You're doing the right thing by taking it easy. Just out of college and making 100k/yr isn't a bad situation. My first job out of school (cir. 2002) paid $39k... LOL.
Feyd is offline  
0
Reply With Quote
      02-05-2012, 10:15 AM   #24
ejazbmw
blahhh
 
ejazbmw's Avatar
 
Drives: 2011 E92 335i
Join Date: Apr 2007
Location: NJ/NY

Posts: 6,340
iTrader: (7)

no m3 but i just graduated a year ago with my BS and MS with a full ride and my parents had a college fund set up for all three of us. so i basically got to keep all that money after graduation plus having a good job helps too
ejazbmw is offline  
0
Reply With Quote
      02-05-2012, 10:28 AM   #25
roastbeef
Captain
 
roastbeef's Avatar
 
Drives: E92 M3
Join Date: Nov 2010
Location: Orange County, CA

Posts: 742
iTrader: (0)

most people live beyond their means, or their priorities are mixed up. some people don't have a pot to piss in, but drive a nice car. thats OC.
roastbeef is offline   United_States
0
Reply With Quote
      02-05-2012, 11:10 AM   #26
Greenkirby21
Vrooom :)
 
Greenkirby21's Avatar
 
Drives: C7 Stringray
Join Date: Jun 2010
Location: Dream Land

Posts: 2,602
iTrader: (1)

Send a message via AIM to Greenkirby21
save up your money first. it might take a year or so, but once you are more stable then its easier to get
__________________
2014 C7 Corvette Stringray - Laguna Blue - NPP Exhaust - Competition Seats
Greenkirby21 is offline   United_States
0
Reply With Quote
      02-05-2012, 11:28 AM   #27
Brey335i
Brigadier General
 
Brey335i's Avatar
 
Drives: e46 ///M3
Join Date: Oct 2009
Location: Austin, TX

Posts: 4,737
iTrader: (11)

You've answered your own question. They don't save as much as you or they earn more.
Brey335i is offline  
0
Reply With Quote
      02-05-2012, 11:52 AM   #28
CollinsE90
Where my bitches
 
CollinsE90's Avatar
 
Drives: Cadillac coupe deville
Join Date: Mar 2009
Location: street corner checking profits

Posts: 1,927
iTrader: (0)

ITT: OP gained common sense.
__________________
CollinsE90 is offline   United_States
0
Reply With Quote
      02-05-2012, 12:17 PM   #29
Vigilante375
Lieutenant
 
Drives: 2012 AW 6M 135i
Join Date: Sep 2011
Location: WA

Posts: 510
iTrader: (0)

New or used M3?

Saving does a lot for people. It's good to put money toward your retirement but if you're making over 100k per year, why wouldn't you be able to afford a M3? That should be pocket change to you. Unless you have some "other" habits you're not telling us.

I have a apartment payment plus utilities, 2 new car loans, money toward retirement and money going into saving's. I don't make 100k per year and still have money to do things and buy things. It's called saving the money you want and using the money for what you need.

Why not go see someone who can help you financially? You're in CA? Things are more expensive there no? In other State's you can live way, way better making 100k.
Vigilante375 is offline   United_States
0
Reply With Quote
      02-05-2012, 12:29 PM   #30
48Laws
Captain
 
Drives: '11 M3
Join Date: Nov 2010
Location: East Coast

Posts: 607
iTrader: (0)

I like when people think they're making a point when they mention priorities. Buying a $200k home, for example, and paying an additional $200k+ in interest along with property taxes seems much worse than enjoying a car in your youth. Either way you're on the losing end.
48Laws is offline  
0
Reply With Quote
      02-05-2012, 01:10 PM   #31
Vanity
Private First Class
 
Vanity's Avatar
 
Drives: BMW E90 LCI
Join Date: Feb 2010
Location: BC, Canada

Posts: 123
iTrader: (0)

If you're paying 45% in taxes, go find someone to help you lower your tax bracket. Pay your mother a (good chunk of your) salary (meaning she's your employee). Then have her deposit it in a joint account with you, but that only you use. Or something like that. Not sure what you can do in the states, but I know lots of people who make over 100k annually, know how to keep that money too. Another reason for why younger people may have nicer things than you.

Know what system you play in, OP.
__________________
Vanity is offline   Canada
0
Reply With Quote
      02-05-2012, 01:24 PM   #32
BayMoWe335
Major
 
Drives: 2010 E92 335i 6MT
Join Date: Aug 2009
Location: US

Posts: 1,387
iTrader: (0)

The 401k decision is a good one, especially if you're paying that much in taxes. You want to reduce your taxable income as much as possible.

Don't listen to the haters. Putting the money away early is the most important thing. You can't get the years back or "catch up" later.

$100k/year isn't much, especially in your situation. I'd agree you can't afford an M3 right now unless you have a bunch of money hidden somewhere with no purpose.

Keep doing what you're doing. I put the max in my 401k ($16,500) yearly and also but $5k in an IRA. Saving for retirement is no joke.
BayMoWe335 is offline  
0
Reply With Quote
      02-05-2012, 03:16 PM   #33
clpower
Private First Class
 
Drives: 09 335I X Drive
Join Date: Apr 2009
Location: Calgary

Posts: 124
iTrader: (3)

Quote:
Originally Posted by ideliver View Post
They hit the genetic lottery. You might as well learn now...there is always somebody with more...

Work hard, save some money, live your life the right way...and quit worrying about what other people have...
x2
clpower is offline   Taiwan
0
Reply With Quote
      02-05-2012, 03:50 PM   #34
mbintx
Second Lieutenant
 
mbintx's Avatar
 
Drives: AW 135i, Miata, and a truck
Join Date: Sep 2011
Location: Plano

Posts: 204
iTrader: (1)

Quote:
Originally Posted by BayMoWe335 View Post
The 401k decision is a good one, especially if you're paying that much in taxes. You want to reduce your taxable income as much as possible.

Don't listen to the haters. Putting the money away early is the most important thing. You can't get the years back or "catch up" later.

$100k/year isn't much, especially in your situation. I'd agree you can't afford an M3 right now unless you have a bunch of money hidden somewhere with no purpose.

Keep doing what you're doing. I put the max in my 401k ($16,500) yearly and also but $5k in an IRA. Saving for retirement is no joke.
+1. Save as much as possible as soon as possible. Trust me-- you will thank yourself later.
mbintx is offline   United_States
0
Reply With Quote
      02-05-2012, 03:58 PM   #35
sanf
Second Lieutenant
 
Drives: F10 535XI
Join Date: Jul 2011
Location: East Coast

Posts: 261
iTrader: (1)

i knew a couple of ppl who lives at home and drove nice cars. thats one way. or reduce your 401k enough to get a M3. look at it this way, do you want to drive one now or at the age of 70?
sanf is offline  
0
Reply With Quote
      02-05-2012, 04:30 PM   #36
HotIce
Banned
 
Drives: 2013 BMW M3
Join Date: May 2010
Location: I'm not telling some creeper where I live!

Posts: 445
iTrader: (0)

It's really not hard to afford and M3 if you live at home. I have friends that are Korean and Persian and culturally, family is a big part of their culture. They usually stay at home sometimes even after they get married, from what I have heard. Also, the used market for the M3 is plentiful as it's the final years of this generation.
HotIce is offline   United_States
0
Reply With Quote
      02-05-2012, 05:04 PM   #37
kyleb350
Brigadier General
 
kyleb350's Avatar
 
Drives: F30 335i M-Sport
Join Date: Jun 2008
Location: LoMbard, IL

Posts: 4,169
iTrader: (6)

Quote:
Originally Posted by Augenbrauezug View Post
People can afford what they make priorities for.


...and buy used
kyleb350 is offline   United_States
0
Reply With Quote
      02-05-2012, 05:08 PM   #38
Q4P
Colonel
 
Q4P's Avatar
 
Drives: Too Much
Join Date: Apr 2011
Location: World

Posts: 2,296
iTrader: (0)

Quote:
Originally Posted by mbintx View Post
+1. Save as much as possible as soon as possible. Trust me-- you will thank yourself later.
remember one thing... when you die, your money doesn't come with you... live for today, not for tomorrow and be happy, that doesn't mean save every penny you have but it does mean don't worry about it as much as some others would have u to believe. Most people getting to retirement age can't even enjoy their money due to health issues... you never know what the future holds.
__________________
2jZ + RB26 + 4G63 + LS9 + N54 =
Q4P is offline   United_States
0
Reply With Quote
      02-05-2012, 05:20 PM   #39
TotalPower
Lieutenant
 
Drives: 2011 335is Vert AW
Join Date: Dec 2009
Location: San Diego

Posts: 468
iTrader: (0)

401k = no M3.

figure that if you "invest" ( i regretfully use this term) in an m3, in 10 years it'll be worth half of what you pay for it... basically you're only spending 1/2 of what it's worth, and 1/2 you'll get back in 10 yrs. not THAT bad...as long as you get laid.
TotalPower is offline  
0
Reply With Quote
      02-05-2012, 05:20 PM   #40
newbieguy
Private First Class
 
newbieguy's Avatar
 
Drives: 11' Space Gray E92 M3
Join Date: Apr 2009
Location: NJ

Posts: 128
iTrader: (0)

your doing the right thing on saving your money, get yourself stable with your career pay off whatever debt you have, get yourself a house. You can get whatever high end or exotic cars later on once your set.
__________________
11' E92 M3 Space Grey
09' E92 M3 Space Grey - Gone but not forgotten
newbieguy is offline  
0
Reply With Quote
      02-05-2012, 05:43 PM   #41
BayMoWe335
Major
 
Drives: 2010 E92 335i 6MT
Join Date: Aug 2009
Location: US

Posts: 1,387
iTrader: (0)

Quote:
Originally Posted by Q4P View Post
remember one thing... when you die, your money doesn't come with you... live for today, not for tomorrow and be happy, that doesn't mean save every penny you have but it does mean don't worry about it as much as some others would have u to believe. Most people getting to retirement age can't even enjoy their money due to health issues... you never know what the future holds.
"Most people getting to retirement age can't even enjoy their money due to health issues... you never know what the future holds."

Are you kidding me? With the advancement in healthcare and pure statistics, your chances of living to the ripe old age of 80 are pretty good.

Investing in your health is another huge important step that people forget, like saving money. You should exercise, eat healthy, not smoke, and maintain a healthy lifestyle. You do these things and it's really stupid to simply "live for today." You should always be doing something for the person you'll be 5-10-20 years in the future.

I TOTALLY AGREE you should enjoy life. This is why I spend time with people I Love, take trips, and driving an OK car...BUT using "living for today" as a motto to justify not saving enough and making stupid financial decisions will only increase you chances of the worst possible scenario: Being old and poor without the ability to work . Even if I'm not in good health, I want money so I have options. I want to see the best doctors, get the best medicine, and enjoy the good times I do have if I'm sick. Don't underestimate how much your life will suck if you're poor and have a terminal illness. Despite what you think, there are huge advantages to being rich and sick versus being poor and sick. Just because you're sick doesn't mean your life sucks all the time, but it will if you're poor.

Still, you'll probably at least live into your late 60s or early 70s with few health problems. Average life expectancy is 80+ and rising. We don't live in Sierra Leone. Saving money is like insurance. Living for today is great until you're wrong (which you most probably will be) and you're old with jack shit. This doesn't mean don't enjoy life, but even being in your 50s with a lot of money will be pretty cool. I'd honestly rather drive the M3 when I'm older.
BayMoWe335 is offline  
0
Reply With Quote
      02-05-2012, 05:52 PM   #42
Q4P
Colonel
 
Q4P's Avatar
 
Drives: Too Much
Join Date: Apr 2011
Location: World

Posts: 2,296
iTrader: (0)

Quote:
Originally Posted by BayMoWe335 View Post
"Most people getting to retirement age can't even enjoy their money due to health issues... you never know what the future holds."

Are you kidding me? With the advancement in healthcare and pure statistics, your chances of living to the ripe old age of 80 are pretty good.

Investing in your health is another huge important step that people forget, like saving money. You should exercise, eat healthy, not smoke, and maintain a healthy lifestyle. You do these things and it's really stupid to simply "live for today." You should always be doing something for the person you'll be 5-10-20 years in the future.

I TOTALLY AGREE you should enjoy life. This is why I spend time with people I Love, take trips, and driving an OK car...BUT using "living for today" as a motto to justify not saving enough and making stupid financial decisions will only increase you chances of the worst possible scenario: Being old and poor without the ability to work . Even if I'm not in good health, I want money so I have options. I want to see the best doctors, get the best medicine, and enjoy the good times I do have if I'm sick. Don't underestimate how much your life will suck if you're poor and have a terminal illness. Despite what you think, there are huge advantages to being rich and sick versus being poor and sick. Just because you're sick doesn't mean your life sucks all the time, but it will if you're poor.

Still, you'll probably at least live into your late 60s or early 70s with few health problems. Average life expectancy is 80+ and rising. We don't live in Sierra Leone. Saving money is like insurance. Living for today is great until you're wrong (which you most probably will be) and you're old with jack shit. This doesn't mean don't enjoy life, but even being in your 50s with a lot of money will be pretty cool. I'd honestly rather drive the M3 when I'm older.
No one ever said make dumb financial decisions... I did say don't lose sleep over it as some people make it out to be... Fact is you never know what will happen... you may be hit by a car tomorrow or other unfortunate circumstance, that's life. It would sure suck to save money for 65 years of life and then all of a sudden realize that it's not all its made out to be or you can't for some reason or other enjoy your money. I have noticed a common trend in the USA; the people that like to work will work even past retirement age, some even until they die... the ones that don't and retire don't know what to do with themselves. I see this far too common even in people with too much money on their hands as they are older; to me there is nothing more sad than that. Very, very few people that I run into past retirement age; even if they have money actually find a way to enjoy it other than maybe spending on health care, they kind of wish they were still working. When I ask; do you wish you had done more when you were younger or done things differently?... The answer to that question is usually leaning more one way than another, I'll let u guess what it is. Not sure what we're arguing about here... it is your decision and yours only on how you make your bed.
__________________
2jZ + RB26 + 4G63 + LS9 + N54 =
Q4P is offline   United_States
0
Reply With Quote
      02-05-2012, 09:27 PM   #43
Alpine Whiteboy
Jerry's Fault...
 
Alpine Whiteboy's Avatar
 
Drives: 2013 535xi M-Sport SGM
Join Date: Sep 2009
Location: Queens, N.Y.

Posts: 9,259
iTrader: (1)

get a girlfriend, and spend her money AND yours...
__________________
Boopie*Motorwerks

Martino*Auto*Concepts
Alpine Whiteboy is offline  
0
Reply With Quote
      02-05-2012, 10:01 PM   #44
Templar
Lieutenant Colonel
 
Templar's Avatar
 
Drives: 2011 E92 M3
Join Date: Feb 2009
Location: One of the coasts...

Posts: 1,816
iTrader: (1)

Garage List
2011 BMW M3  [5.00]
Oh look, another one of these threads... Already with the "mommy and daddy are rich and bought the car" posts.

I'm 27, how did I buy my M3? By being deployed for a total of 25 months in a four year timespan and saving every single penny I made while I was deployed.

Not all young people have rich parents, in fact I make more than my parents do, even being in the "dumb people's" Army as a lot of people refer it to...
__________________
'11 BMW E92 ///M3 - ZCP and DCT
'13 Toyota Tundra - 4x4 Platinum CrewMax, 5.7l iForce V8
Templar is offline   United_States
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 10:56 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