My neighbor buys 2 fancy new cars every few years for himself and his wife and said he can get a big tax deduction by claiming them through his business.

Im a SAHM. We have 5 cars for our family of 5. All paid for in cash.

Anonymous wrote:Any financial advisor will tell you that one of the worst purchases you can make is an expensive car. These people are buying them for show. The really wealthy and smart people are buying Hondas and Toyotas for cash and keep them for ten years.

I bought a Honda because I’m not wealthy.

Anonymous wrote:I am a teacher off for the summer. Everywhere I look there seems to be a SAHM running errands with 3+ little kids getting into a brand new looking Suburban, Tahoe, Expedition, etc. These moms look 35 or less. I see this in the dismissal car line at our public school too. How do they afford this?

Stocks and crypto.

Anonymous wrote:

Anonymous wrote:I think a lot of the moms are prostitutes.

In a way, they are

This is so real.

Anonymous wrote:

Anonymous wrote:They’re not teachers. If they are, they are married to high earners.

No they aren't. They aren't working at all. No need to slam teachers.

Not slamming teachers. I know two such couples. Wife is married to big law partner.

Any financial advisor will tell you that one of the worst purchases you can make is an expensive car. These people are buying them for show. The really wealthy and smart people are buying Hondas and Toyotas for cash and keep them for ten years.

Anonymous wrote:They’re not teachers. If they are, they are married to high earners.

No they aren't. They aren't working at all. No need to slam teachers.

Anonymous wrote:I think a lot of it is spouses with high paying jobs plus family money. My kids public school is filled with these families. We live in an old tiny house in Bethesda, and I’m always amazed at all my kids friends who live in $2.5 million plus houses, drive expensive cars, send kids to sleepover camp that’s at least $15k per kid, mom’s have multiple expensive purses, fancy vacation etc. I assume spouses are making big salaries and grandparents help too.

I also see very few families with these cars in Bethesda. It's all the giant Volvos, Audis, teslas, Rivians, Land Rovers.

I live in suburbia, bordering on cow country. These obnoxious SUVs are everywhere. I don't think most of these people have a decent net worth. Pissing your money way isn't how most people end up with bank as they get older.

The cars are leased.
The husbands ear good money.
They bought houses at low interest with downpayment provided by grandparents.
They have family money so do not worry about saving for retirement.

When I was in my early thirties, I leased my car. I was a SAHM in my mid thirties. DH earns a seven figure income.

My block we have a couple who just paid two million for home and doing a one million renovation before move in. They look young but they are like 37-39. They are surgeons. Yes one surgeon married another.

A newlywed couple moved in around 28 in a 1.5 million dollar home in summer 2020. I met them. As simple as parents gave them downpayment as could not do wedding due to covid and they got a 3 percent mortgage. Parents wanted couple nearby, both parents are from Potomac. A 1.2 million mortgage at 3 percent when both work and no kids yet is not bad. They now have kids and she is now a a SAHM. at 33.

Guess what even if they never pay own mortgage and stay forever the 30year mortgage is done at 58 and people will say how can you afford to retire at 58.

Anonymous wrote:I am a teacher off for the summer. Everywhere I look there seems to be a SAHM running errands with 3+ little kids getting into a brand new looking Suburban, Tahoe, Expedition, etc. These moms look 35 or less. I see this in the dismissal car line at our public school too. How do they afford this?

Where are you driving? If you are in Bethesda, Potomac, NW, McLean, Arlington, then a very large percentage of the families living there are making $400k plus. If you venture over to Silver Spring, Gaithersburg, Rockville, Alexandria outside old town, Fairfax county beyond McLean, etc., you will see many fewer of these because the incomes are lower.

Anonymous wrote:I am a teacher off for the summer. Everywhere I look there seems to be a SAHM running errands with 3+ little kids getting into a brand new looking Suburban, Tahoe, Expedition, etc. These moms look 35 or less. I see this in the dismissal car line at our public school too. How do they afford this?

they are more like 100K out the door.