Drivers: What do you do with all your money?

[moldsporh]

How can you have such a low mortgage payment?? That's a typical car payment these days.

Because he/she likely isn't living beyond their means. $600 car payment if you want to keep up with the jones' or have the means to do so.

Start out small, then work your way into a larger home if that's what you want to do.

Get a reliable vehicle to take you to and from work and get groceries, doesn't need to be a brand new vehicle or cost $40K.

Better get with the program now and save/invest your money. Otherwise when you retire you will learn real fast how quick that money runs out.

If you feel you need a big, new home and a fancy car, by all means...go for it. If you have the funds to do so, more power to you. ...I have no issues with people with nicer things than me...it's your life and you can live how you want.....I think thats awesome.

If you get a good faith estimate and buy a home for that price....then you are foolish...unless you have other funds set aside.

You should be able to pay your mortgage with one weeks pay, combined you or you/spouse..two weeks at the absolute most and that's pushing it.....that's danger territory anyway.

 

[Purplepackage]

I can tell you don't live on the Northeast.

As for cars, the average new transaction price is now over $30,000 in the US. That means for a 48 mo loan, about $705/mo if you put no money down (which you would be for a $30K car but just giving an example).

You are a fool to buy a car with no money down..just like you would be a fool to buy a house with no money down and savings.

Buying a 25k dollar car becomes much easier when you cut that loan down to 15k

 

[JL 0513]

Because he/she likely isn't living beyond their means. $600 car payment if you want to keep up with the jones' or have the means to do so.

Start out small, then work your way into a larger home if that's what you want to do.

Get a reliable vehicle to take you to and from work and get groceries, doesn't need to be a brand new vehicle or cost $40K.

Better get with the program now and save/invest your money. Otherwise when you retire you will learn real fast how quick that money runs out.

If you feel you need a big, new home and a fancy car, by all means...go for it. If you have the funds to do so, more power to you. ...I have no issues with people with nicer things than me...it's your life and you can live how you want.....I think thats awesome.

If you get a good faith estimate and buy a home for that price....then you are foolish...unless you have other funds set aside.

You should be able to pay your mortgage with one weeks pay, combined you or you/spouse..two weeks at the absolute most and that's pushing it.....that's danger territory anyway.

I agree with you, that wasn't my point. I was just pointing out what things cost, at least in high cost areas. It's just a fact that the average car is over $30K now, not saying you need that. Guys at work make fun of my car that is worth $2K and my household income is nearly $200K. I was just wondering how his mortgage could be that low when that is ghetto pricing in my area.

 

[JL 0513]

You are a fool to buy a car with no money down..just like you would be a fool to buy a house with no money down and savings.

Buying a 25k dollar car becomes much easier when you cut that loan down to 15k

Again, that wasn't what I was saying or suggesting, I was just playing a numbers game. Whether you put money down or not, you're still paying the money, just a little less interest with money down.

 

[moreluck]

Just know that no matter what you make, most people will live beyond their means!! We never did .

 

[JL 0513]

In San Francisco, the average 1 bedroom apartment is $3,600/mo!!

 

[Cementups]

I can tell you don't live on the Northeast.

As for cars, the average new transaction price is now over $30,000 in the US. That means for a 48 mo loan, about $705/mo if you put no money down (which you would be for a $30K car but just giving an example).

The day that I am asked to pay $705/month for 48 months for a car is the day that I start taking the bus.

Generally speaking if you are looking to purchase a new car you can figure on paying $100 for every $5k borrowed on a 60 month loan. So if you buy a $30k car and have nothing down or a trade in, you can figure on approximately $600/month.

 

[What'dyabringmetoday???]

Generally speaking if you are looking to purchase a new car you can figure on paying $100 for every $5k borrowed on a 60 month loan. So if you buy a $30k car and have nothing down or a trade in, you can figure on approximately $600/month.

Real men buy trucks. Lol.

 

[Cementups]

Real men buy trucks. Lol.

The bigger the truck, the smaller the penis.

 

[Poop Head]

The bigger the truck, the smaller the penis.

So true. I drive a really big truck.

 

[Coldworld]

good for you. we are the same way. I was commenting on the general population and not you.

That is why we were able to retire 5 years early because we saved so much. the 97 strike was a wake up call and my parents grew up during the depression. they were a big influence also.

At what age did you retire... Aren't you in the western conference??? My goal is 55 and to not touch my 401k until my mid 60's....too many stories of people dying after being retired for a year...

 

[Coldworld]

He wants you to live on crackers and water..

And saltine crackers....not the ritz crackers

 

[MethodsMan]

Most of it goes to taxes to pay for Trump's security detail.

 

[ManInBrown]

You can't compare apples and oranges. Any driver here that lives in the Midwest or the south lives a completely different life then drivers like myself.

What you can get for 200K in Nebraska, costs 1.2 million in NJ. It's a completely different life. My money goes nowhere here. I just scrape by practically.

If you're renting where I live plan on paying 1700-2200 for a DECENT 1 BR apartment. It's ridiculous. And the folks in San Fran have it even worse.

 

[moldsporh]

In San Francisco, the average 1 bedroom apartment is $3,600/mo!!

If I lived in San Fran and wanted to pursue a career at UPS, I would not stay in SF. Awesome city, but quality of life is more important.

I know sometimes family matters can dictate whether or not you stay in your area, but if nothing is holding you back.....don't hesitate to live elsewhere.

My $.02

 

[UpstateNYUPSer(Ret)]

At what age did you retire... Aren't you in the western conference??? My goal is 55 and to not touch my 401k until my mid 60's....too many stories of people dying after being retired for a year...

Your goal should be to not touch your 401k until you are forced to start taking withdrawals when turn 70 1/2.

 

[brownmonster]

Your goal should be to not touch your 401k until you are forced to start taking withdrawals when turn 70 1/2.

My goal is to start taking it at 59 1/2, 1 year after I retire and SS at 62. We can let my wife's 401k and SS ride for a while depending on how much we are having fun.

 

[olroadbeech]

At what age did you retire... Aren't you in the western conference??? My goal is 55 and to not touch my 401k until my mid 60's....too many stories of people dying after being retired for a year...

I retired before SS kicks in , in a couple more years. been out over a year and a half and only use the pension to live on. have yet to get into savings or the 401k. plan on not using the 401k for as long as possible.

we have been fortunate not to have had any emergencies.

retirees die soon after retiring because they just veggie out in front of the tv. we are so busy now it is unbelievable. hiking, hobbies, taking trips, home projects, making and fixing things, socialising , the list goes on.

One of the best things is now I have time to go to the gym and be more active physically. Long days working nights in feeder and sleeping days took a toll I did not realize was happening.

make a plan well ahead and work that plan. you'll be glad you did.

 

[ManInBrown]

I know someone that lives in a good area of Tennessee and pays 950 for a nice 3 BR apartment

Another friend lives in vegas and pays 850 for a 1 BR in northwest which is one of the two nicest areas in Vegas. Southeast being the other. SMH