By-the-hour hotel?

I think he was setup like an apartment in his parents basement, so maybe it wasn't as bad as most would imagine.

 

what the chit!? 5%...how old are you, like 40. I was 22 when I baught my Z. Soooo by what you are saying I would have had to start working at age 14 and been making aorund $70k a year to warrant buying a Z at 22.

By yours or whomevers calculations I should have had $600k to my name before considering it..thats is the most retarted statement...sorry

and if we are talking payments, counting insurance I would have to bring home over $12k a month...more idiocy right there.

Holy god this is just for a Z...If you guys own a GTR I hope you bring in well over $250-$300k a year...Eh I would by a $80k car if I made 100k a year( thats me and I have no priorities except myself at the moment.)

 

Wow those are some gracious parents. If I was still living at home when I traded in my car to buy the Z, I think my parents would have figured out that I was affluent enough to afford nice things and should think about moving out, like right away.

 

I think he is an only child and his mom (along with him) have attachment issues..

 

I'm talking from a 25 year old's perspective who just finished grad school and got my license last year. If you're making $30k a year, you arent going to own a GTR. Simple as that.

Good financial management means knowing where it is a good idea to stretch your money and where it isnt. It means knowing your priorities and what you can afford to have, and what you can only dream about.

If you're 22 years old and have no career in mind and are just trying to figure out what to do to "get yourself into a GTR." You're looking at it from the wrong perspective. But I dont need to convince you. I have my ducks in a row already, so I'm not worried. Can I afford a GTR? Not yet. Will I in a few years? Definitely.

 

That is exactly my point. If you go through this entire thread you'll read about someone who claims to make $60000-70000/year wanting to get into a GTR.

For the record, I'm a 21 year old who also is going to grad school for a Doctorate of Pharmacy. I'm a 3rd year/1st professional year student and I have zero debt/school loans because of my participation in the National Guard and the state law that stipulates a public university cannot charge a guardmember tuition for any degree and any number of credits per semester.

I still think that even if you made 200k/year (which is working 36 hours/week at a retail pharmacy and then another 36 hours/week at hospital pharmacy as well), it'd still be unwise to purchase a GTR.

While I could do exactly what I have illustrated above, I plan on going to get a MS MechE part-time (which would be free as well) for two years because it'll most closely align with my branch of choice (Corps of Engineers) when I commission n Aug 2009.

Personally, I would not spend $80k on a car until I earn about $400+k/year because until then it's not cash you can just throw away and not worry about it's financial impact at all.

 

Everyone's different. There is no exact number in terms of what you should be making in order to purchase X car.

 

1. Only 4% of people in US make 200k+ (household income)
2. With $100k/person income and no debt you can afford MANY toys.

70k GTR => 20% down payment = 14k cash
56k @ 6% and 5Y term => monthly payment = $1,082

3. Polo I honestly think you exaggerate a bit with your numbers.

 

Wait wait wait.............you are going to Pharmacy school in the 3rd year of college? Damn my friends had to get their undergrad degree first. I'd suggest if you want to get your M.Sc. in M.E. that you reconsider C.E. since that's more along what you would use for the Corps unless you go into materials or something of the like. Anyhow take it from a guy with an engineering degree.........screw it and stay in Pharmaceuticals, it pays much better.

Back to the car........unless it's a rare car it's really never worth it financially, but the fun factor is off the scale.

 

My friend started off around $70-$80K back in 1996.......in Hawaii. I can only imagine what a person would make in another area of the country with better pay.

 

Yes, I was admitted to a "direct-admit from HS" program so it's a 6 year program for a PharmD.

I understand a MS CivilE would be more useful for the Corps of Engineer but it would be nearly irrelevant for the pharma/biotech sector. I wanted something that could potentially serve dual purposes. As far as i understand, MechE is one of the more "broad" disciplines in engineering.

 

1. Correct. A GTR with it's price tag is not a car for the masses.

2. Yes, but with 100k/year you'll be heartbroken when something unfortunate happens to your GTR. I'd rather not have that emotional attachment to the car and the way to do that is to have the entire cost of your car a small % of your yearly income so that you can just laugh it off and buy a new one the next day in cash.

3. In what sense? I'd rather err on the side of caution than the side of optimism. <-- That should be a lesson for Americans to take home nowadays since this entire subprime mortgage collapse is caused by people who couldn't TRULY afford the toys they bought on credit.

 

My sister makes 90-98k in Arkansas.

 

no GT-R?

business not good



j/k

 

Civil is the broadest of the disciplines and can range from Structural Engineering to Transportation to Environmental, etc. You seem too intelligent to be in the Corp unless you want to be the top dog.

 

I don't own a GT-R, but I do own a Viper, which I bought new when traded my 350Z in 2 years ago. The Viper and GT-R are similarly priced, so I can speak on this subject from experience.

I didn't make $200K a year, so was it a wise financial decision for me to buy a Viper? NO, but I wanted a Viper bad enough at the time to buy it without regard for the price. My decision was predicated on 3 things, though. I decided that I would only buy the Viper if my other bills were paid off, if I had some money in the bank, and if the monthly payments were comparable to the payments I had on my Z, so I put together an Excel spreadsheet...figured out what the dealer had to give me as a trade-in value and figured out how much cash I would have to add to that to get the payments down to a level that I felt was affordable and bought it.

Like I said, I didn't make $200K a year when I bought it, but I feel like I planned well enough to make the Viper payments affordable.

I think we all have a threshold for financial pain and even though I could probably have an extra $80K in the bank right now if I didn't buy the Viper, getting my dream car while I was still "young" was important enough to me to delay my savings plan a few extra years...

Financially, buying an $80K car is always a bad financial decision, but I've enjoyed every minute of the last 2 years with my car, so even though it was a poor financial decision, it was a good personal decision and I would do it again.

 

^^ agreed, same reason I got my GTR. Wasnt a wise financial decision but a great personal decision.

 

+1. I respect people who know the consequences of their actions and are willing to accept those consequences. What would astounds me is the fact that some people live beyond their means just to prove accomplishment through material possessions instead of buying something they can afford for personal enjoyment.

In my case, I truly believe the money I'll save over buying a entry-level luxury sedan like a G37 instead of a GTR is far too valuable to waste away on a depreciating asset. I know I have a strong sense of entreneurship, and I seek everyday to acquire technical expertises and life experiences that I can store in a "toolbox" to be utilized later for goals that I aspire to reach.

I know we all chuckle when we hear of youngsters claiming they own a "corporation". Indeed, I chuckle to myself as well because I've been there and done that, and most of the time we become part of the statistic of "small businesses that fail." But the most important thing you should take from that is why you failed and what you need to do in order to succeed the next time around. I've come to realize that you need to do something unique - something that other people cannot do easily. You need to be able to have the management, leadership, and foresight to see it through until the end - to make your dreams become reality. And you need to have the motivation, dedication, and commitment to stay the course and not give up easily. And this is precisely what I am in the process of doing today. Everything that I do or try to do serves a purpose and each step along the way builds upon the previous step in an effort to integrate and culminate all the skillsets you have to be a more unique individual. Hopefully this will lead to a career/occupation that provides much personal enjoyment, enrichment, and financial rewards so that one day you may be able to enjoy the finer things of life (such as a GTR ).

 

...the wise words of an engineer. Yes, I knew Civil would be broad as well, but I didn't fully grasp that until you gave me a very limited glimpse.

I know for the military (the Army NG in my case) that if you possess skills that they are in great need of and cannot train from within your chances and rate of promotion will be much greater and faster than that of your peers. For me, branches such as Corps of Engineers, Signal, and Armor have my interest but I think if I were to stay in for 20+ years I'd switch to the Medical Corps for the reasons listed before. From what I understand, you can definitely be promoted to Lt. Col. or Col. relatively quickly in the Medical Corps without having any special connections because of the huge understrength in that branch. However, the military has been great to me so far. The benefits, both financial and other, have been amazing and the experience of leading soldiers is one that I have been dreaming about since my childhood because nearly my entire extended family is ex-military.

 

So it sounds like the range for pharm is between $80k-110k. Thanks, guys. (was just curious)