JL 0513
Well-Known Member
LOL
Perhaps drivers are so used to driving a crappy package car all day that even a cheap car feels luxurious. Maybe that answers my question. Haha
I've noticed that most drivers don't own premium cars that they can afford. Why?
- Thread starter JL 0513
- Start date
LOL
Perhaps drivers are so used to driving a crappy package car all day that even a cheap car feels luxurious. Maybe that answers my question. Haha
LOL
Perhaps drivers are so used to driving a crappy package car all day that even a cheap car feels luxurious. Maybe that answers my question. Haha
Thats it!!! My 20 year old Nissan beats the hell outta my 17 year old p-1000 for sure
JL 0513
Well-Known Member
Thats it!!! My 20 year old Nissan beats the hell outta my 17 year old p-1000 for sure
Yup, my Yaris feels like a Rolls Royce compared to my package car, built in 1987. So THIS is why we don't need nice cars!
BSWALKS
Fugitive From Reality
I honestly don't care what I drive. I just keep it very clean & well maintained.
My main concern is having something real nice for my family. I try to buy something 2-3 years old that's clean, & has low miles. Last one I bought, when new, msrp $44k. I bought it 3 years old, around 40k miles for half that with a good warranty included.
My main concern is having something real nice for my family. I try to buy something 2-3 years old that's clean, & has low miles. Last one I bought, when new, msrp $44k. I bought it 3 years old, around 40k miles for half that with a good warranty included.
Dude 75k is not alot of money. If you do the 401k and buy UPS stock and also pay child support like probably 33% of drivers do there isnt much money left to buy a BMW or a Lexus. Did I forget taxes?
You need a reality check on personal finance. BIG CAR PAYMENTS ARE FOR BROKE PEOPLE.
JL 0513
Well-Known Member
Dude 75k is not alot of money. If you do the 401k and buy UPS stock and also pay child support like probably 33% of drivers do there isnt much money left to buy a BMW or a Lexus. Did I forget taxes?
You need a reality check on personal finance. BIG CAR PAYMENTS ARE FOR BROKE PEOPLE.
In all fairness, going through divorce and having to pay child support changes the whole argument. In those cases, yeah, there's not much left for you. I wouldn't dispute that.
In a more common scenario, drivers pull $75K+ while also having a working spouse making a decent paycheck as well. That's a household income well above the national average.
The median household income in the US is $51K. Compared to a typical driver/spouse combo making over double that. That's good money.
Take a look around when you're driving. New cars are selling at record highs. The average transaction price is now $31K in the US. You'll notice tons of new trucks, SUV's, large cars, ect. A typical Ford Explorer, Jeep Grand Cherokee, or full-size p/u costs the same as a BMW 3-series or Lexus IS/ES. Those vehicles sell like hotcakes at IHOP. Yet, most of these everyday families aren't making over $100K.
Anyway, I don't need a reality check. I have a mortgage. I have a car payment. I have a baby. And every expense associated with all those things. I know how fast money goes. And I'm only half way to top rate.
It's good that most UPSer's seem really good at saving and preparing for retirement - that's great. God knows most people don't. In fact, the majority of Americans have NOTHING saved for retirement. But hopefully you guys are enjoying the better part of your lives, at least a little. A million dollars banked when you're dead doesn't do much for ya.
The avg. car payment in America is around $475.00 a month and for double income couples they spend close to a thousand on monthly car payments. Thats why Americans are broke. Even people making $150k per year are broke.
The goal should be to have 1 million at around age 62. You could easily live to age 90 so thats not that much cash for 30 years.
I love cars but I paid the BIG CAR PAYMENT STUPID TAX WHEN I WAS YOUNGER AND IT WAS A HUGE MISTAKE.
If you cant pay cash for a car just dont buy it. Save and pay cash.
Build wealth by saving your great income.
JL 0513
Well-Known Member
Hopefully America can continue to break the rules of economics and avoid a collapse of our dollar so that our savings don't become worthless. But that's a another debate.
As for UPSers having enough cash for retirement? Well, remember that we are one of the last workers, at least in the private sector, building pensions. These pensions pay a full monthly income ($40K+/yr?) Then there's social security checks (if they'll still be there in the future). Oh, and then your 401k. That's nearly 3 incomes. Plus all this cash your saving.
I think they'll be enough. Most retirees are getting by on SS checks alone.
gingerkat
Well-Known Member
Wait, what? Clearly you don't know what you are talking about. Most retiree's are NOT getting by on SS checks alone.
JL 0513
Well-Known Member
"Most" is the wrong word, but a lot do.
gingerkat
Well-Known Member
Here's a fun fact or should I say scary fact. Do you know what Social security pays for hospitalization?(Part A, which is free to anyone that paid into the system). This is for Americans living on social security payments alone, thats no retirement benefits, no savings, no additional supplemental insurance of any kind.
After $1,184 deductible and you get 60 days. $296 per day for days 61-90 and then after that it goes up. We all know that seniors usually have issues as they get older, so without any kind of supplemental insurance or retirement savings they're screwed. Oh BTW, this cost that I listed, does not include the doctors that are treating you. It is strictly for the hospital and some costs associated with it. No long term care is considered with Part A of original medicare .
After $1,184 deductible and you get 60 days. $296 per day for days 61-90 and then after that it goes up. We all know that seniors usually have issues as they get older, so without any kind of supplemental insurance or retirement savings they're screwed. Oh BTW, this cost that I listed, does not include the doctors that are treating you. It is strictly for the hospital and some costs associated with it. No long term care is considered with Part A of original medicare .
gingerkat
Well-Known Member
Sure, if they don't have a mortgage or more importantly any serious health issues. Don't make me call you "boy" again. You have no idea what the hell you're are speaking about. You're young and working, but do some serious research on seniors today and you'll scream.
Please people help your folks plan for long term care because that is the most expensive thing out there.
JL 0513
Well-Known Member
Official statistics:
According to the Social Security Administration, 23% of married couples and 46% of single people receive 90 percent or more of their income from Social Security.
gingerkat
Well-Known Member
Do you even know what this means? It doesn't mean they are successfully living off of SSI. It means they are receiving it, as people do when they reach 65. Are you going to factor in the other things I mentioned or simply pretend you didn't read it? You clearly think reading a statistic gives you knowledge. Go out and talk to seniors on SSI and then come back to me. Lets compare notes and then we'll talk. I'm willing to bet the bank that I know a hell of a lot more than you on this one.
I would not count on the Teamsters pension if you are on the young side. Consider it the icing on the 401k and SS cake.
Hopefully it will be around in 20 years but if the Tea party and the right wing nuts have their way NO AMERICAN WILL GET A PENSION IN THE PRIVATE OR PUBLIC SECTOR.
The Republicans have done a great smear job on unions and unions have just let it happen from a public relations standpoint by not fighting back.
You have time on your side to build wealth with your income. INCOME IS THE GREATEST WEALTH BUILDER. CAR PAYMENTS WILL RUIN YOUR PATH TO WEALTH.
barnyard
KTM rider
My wife bought a used 530xi with her inheritance. It cost about $1000 more than the used pick up that I bought. We have had the pickup for 8 years and the pickup for 8 years and the Bmw for 2. We have easily spent more maintaining the BMW than we have the pickup, even though we have had the pickup for 6 years longer.
The BMW is a great car to drive, but I am not sure that we would buy another, particularly out of warranty.
The BMW is a great car to drive, but I am not sure that we would buy another, particularly out of warranty.
JL 0513
Well-Known Member
Perhaps you misunderstand. I never said that living solely on SS is sunshine and lollipops. It probably means poverty line levels. I'm just pointing out the fact that a lot of people do depend solely on it, or that it's the majority of what they live on. It's just facts.
I'm not sure what you're trying to argue.
moreluck
golden ticket member
This is the same reason we don't have a Mercedes. We have leased 6 or 7 of them over the years........3 year leases......all with warrantees............got new ones every 3 years
As soon as 3 years are up.....they are super expensive to maintain.
Much happier with Chevy products (Blazer & Tahoe).
Also, my mini cooper is an '05 and only been to the dealer one time. I'm still waiting for it to turn 10,000 miles for it's next check-up.
JL 0513
Well-Known Member
I wouldn't touch a German piece of crap with a 10' pole. THAT's throwing your money away. I likely would never buy anything other than Japanese.
My Toyota has 150,000 miles on it. Guess how many repairs I've had to do?
Zero.
I bought a 2003 Audi A4 1.8T engine model in May of 2008, this being my "young and dumb" purchase. It had 53,000 miles on it and by 60,000 it had something going wrong with it every month. Clear coat wearing off, wiper motor broke, window regulator broke, coil packs burnt out monthly, the electrical system was completely faulty with blinkers never working, head gasket needed to be replaced, A/C, tie rods, and on and on and on. I WILL NEVER BUY A GERMAN VEHICLE AGAIN EITHER! In May 2010 I purchased a 2006 Honda Accord V6 and in 3 1/2 years have only had to replace an ignition switch. The car also is MUCH more powerful in regards to acceleration and rides just as nice if not better. The Audi was far superior on the back roads I will give it that but it also had AWD.
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