if you make $6000 per month after taxes..
11-30-2009, 11:08 AM
#51
[QUOTE=Chris S,Nov 30 2009, 12:40 PM] Judging by your car collection, I'm guessing your wife is your only client?
11-30-2009, 03:58 PM
#56
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I wouldn't necessarily recommend marching like a lemming into home ownership right after college. You need to make sure you have a stable job, which may require mobility early on. Just save as much as you can, at least until the unemployment rate starts dropping...
11-30-2009, 05:17 PM
#57
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Originally Posted by ebbai,Nov 29 2009, 11:20 PM
let's say you are single and rent at a cheap place with a friend (roommate) and you make about $6000/month (after taxes), what car would you buy?
i will be graduating in May and i'm thinking about getting an M3, audi S5, or a cayman s...
i don't know if i can aim higher or not...need your opinions..
fyi,i've owned AP1, AP2, mazdaspeed3, and ep3
thanks
i will be graduating in May and i'm thinking about getting an M3, audi S5, or a cayman s...
i don't know if i can aim higher or not...need your opinions..
fyi,i've owned AP1, AP2, mazdaspeed3, and ep3
thanks
Given historically low interest rates and the extension of the federal tax credit program, your first purchase should be a house or condo, then consider what car to put in the garage. Don't be that guy that buys a new big dollar sports car and parks it outside an apartment.
That's my 2 cents.
11-30-2009, 07:17 PM
#60
Originally Posted by [DT
,Nov 30 2009, 12:40 AM] I got a chuckle out of that too. $6K/mo is what? About $105K/yr gross? And people are suggesting cars 2-3X that amount?
Personally I'd stick to something in the $30k-50k range at the most, and adjust for possibly bailing on the cheap room/roommate (the greatest car in the world is no substitute for your own digs).
Personally I'd stick to something in the $30k-50k range at the most, and adjust for possibly bailing on the cheap room/roommate (the greatest car in the world is no substitute for your own digs).
What will you make in 10 years? Still something on that same order? That's a BIG deal.
You should decide when and how well you'll want to retire and build a rough outline for your savings vs disposable vs semi-investment (ie house) income. That will dictate what you have for a car, eating out, and so on while achieving your longer term goals.
$30-50k range sounds about right if cars are important to you. Much more than $60k and you're just throwing away all of your savings unless you really will keep it 10 years. You can certainly do it, but in a few years you might greatly regret it.