Reply to How are there so many $60, $70, $80+ thousand dollar cars on the road??

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Reply to "How are there so many $60, $70, $80+ thousand dollar cars on the road??"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We make less than third and have a pricy car. OP, I doubt you will return to respond to follow up questions despite asking.

How old are ou guys and what’s your net worth? [/quote]

OP here - We are early/mid 40s.  I haven't calculated net worth before, but if you include 401ks, Id say over 1M.[/quote]

At that age and with that income trajectory, you should have much more than $1M NW.  So it would seem you have a spending issue.  You spend on lots of other things, but could easily budget/save and afford a nicer car if it mattered to you

For us, we like driving nice cars.  We can afford it, so we do it.  We also keep them at least 7-8 years (sometimes 10+) and we pay cash.  [/quote]

Not in this area she doesn’t. Maybe her income is new and everything here is expensive. She’s just honest, unlike the liars who claim they’re mid 30’s with 250k HHI and 7M net worth who also drive luxury cars.[/quote]

Well those are liars, but no, the OP should have more than $1M at age 40.  Not saying $7M, but should have more than $1M total.  But most likely they were not contributing fully to retirement at age 25.  And given they think they cannot afford a $60K vehicle tells me they are spending more than they should and have an elevated lifestyle, so most likely not saving properly, despite the fact they easily could.

The key is when you go from $100K to $150K, you put 50%+ into savings and don't let lifestyle creep happen.  You don't allow your budget to include spending 100% of the increase.  If you do that with each salary increase, OP would have much more in savings and still living a good life.

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