MS3 / Income thread !!!!!!!!!!!!!!!!!

[SwampAss]

theres a few people who make around 200k a year that have posted in this thread..
crazzzy

200k is healthy, but in the grand scheme of things, isn't as much as you'd think. Sound investments with solid returns can very easily eclipse that. It's not what you command as a wage, it's what you can make that wage do for you in the long run.

I have friends who make well into 6 figures and are always broke. I have other friends making modest salaries who go on trips, have a nice home, and are vested.

I don't want to say that your yearly income is irrelevant but it's not as important as you may think when you first begin working.

 

[Loose]

200k is healthy, but in the grand scheme of things, isn't as much as you'd think. Sound investments with solid returns can very easily eclipse that. It's not what you command as a wage, it's what you can make that wage do for you in the long run.

I have friends who make well into 6 figures and are always broke. I have other friends making modest salaries who go on trips, have a nice home, and are vested.

I don't want to say that your yearly income is irrelevant but it's not as important as you may think when you first begin working.

Listen to this man....he is VERY wise. I also have friends that are always tapped for money yet the make a bundle. I also have friends that make hourly wage and support their lifestyles just fine.

200K isn't that much. Just as a note....my Med school loans are about 1K a month. Don't forget to factor that in.

 

[Craighjr]

27 in 3 days, Fleet mechanic for the electric company here in NJ. 65k a year. Still paying student loans, 2006 DRZ400SM, and the Speed 3 off.

 

[SpeedThree2K7]

31, Construction Estimator/Project Manager 100k+bonuses, Wifey, 27, construction contract compliance and certified payroll specialist 50k+bonuses. Unfortunately, I have 3k/month payment to ex-wifey for child support and alimony.

We also have '07 Jetta Wolfsburg (meh)

 

[flipstylex]

Well, if you make 6 figures "200k" , are you still considered middle class ???

i think middleclass nowdays is 30 - 60 k ayear. personally i think if you make 6 figures a year, you're considered rich. I'ts all up to you on how you spend your money, this case, people won't be broke having
"6 figures a year". if i was making that, i'd be living real nice and not have to work 2 jobs

anyways, if your making a million and up,, ... well, your considered millionaire i guess...with that thought, is there any mazda owners in here that are millionaires ????

maybe even a celebrity who owns a mazda..?. or maybe they just don't post ;-)

 

[Killer]

who is that for? lol the nuerologist?

No..I just dont believe anyone on the intraweb when it comes to this kind of stuff.(shrug)

 

[TheDutchGun]

Well, if you make 6 figures "200k" , are you still considered middle class ???

i think middleclass nowdays is 30 - 60 k ayear. personally i think if you make 6 figures a year, you're considered rich. I'ts all up to you on how you spend your money, this case, people won't be broke having
"6 figures a year". if i was making that, i'd be living real nice and not have to work 2 jobs

anyways, if your making a million and up,, ... well, your considered millionaire i guess...with that thought, is there any mazda owners in here that are millionaires ????

maybe even a celebrity who owns a mazda..?. or maybe they just don't post ;-)

I don't agree with you. My folks combined income is 160K or so and they're still definitely middle class.

 

[chriscecc914]

21 yrs old- 53k a year- police officer/ USMC reservist

 

[flipstylex]

well ..."DUTCHGUN".... to me your folks is considered rich. i see that you're from canada, and from what i heard , alot of things in canada is expensive "ms3 cost more overthere". so maybe in your opinion, you might be right.

Here in america, believe it or not, 30-60k is middleclass. this is single income we are talking about. There are also people in united states with income 80k COMBINED "married" considered middleclass.

Try to look at the posts people wrote in here, you'll get an idea of how much people make, we are all not rich like you're folks .

WE ARE MIDDLE CLASS !!!!

 

[SwampAss]

It depends on where you live. If you live in a large metropolitan area, 150k will not get you as far as 150k in a less expensive area.

My house is 300k. (it's small, was built in the 50s, but has been almost completely updated)
My house 30 miles south and/or west of where it is right now would cut that price in half.
My house 50 miles north would command 3/4s of a million dollars.

Monthly payment: 30 Years
Interest rate: 5.750%
Loan amount: $ 150,000.00
$ 875.36 a month



Monthly payment: 30 Years
Interest rate: 5.750%
Loan amount: $ 750,000.00
$ 4,376.80 a month


Same house, $3500 a month difference negating almost $50k a year in salary once you also factor in taxes.


My wife's cousin rents a 2 bedroom loft in Hell's Kitchen for 3900 a month. Imagine BUYING something in NYC. 1Mil and up for not much.

 

[Falconx84]

wow.... I feel so poor....

23, commissioned retail sales, approx $25-ish year

I miss electronics, I was making about $60k as assit man. for rex tv... funny thing is, I have more to show for my $25k than I ever did with my $60k chalk it up to being older and wiser, lol

 

[palerider]

I felt like I had more money when I was single, living in my little condo, and making 50k a year. Oh so long ago.....

Now with a family of (soon to be) six. We spend 50 bucks at Wendys for cying out loud. Big house(tax shelter). My wifes MDX. Country club dues. Life insurance. Health insurance. "College funds". IRA savings plans. Business expansions and debt service on business lines of credit. Massive state and federal income "tax problems" as my accountant always jokes. Yadayadayada.... Ive never worried about money more.

Me and my neighbors all joke about "living the dream baby". To be happy really has nothing to do with money. Thats why I drive the 3. I spent $3000 on this little puppy so far and if it breaks or I need to write the damn thing off. Well so be it.....

It wont drag the whole kingdom down.

 

[CTGrey02]

Well, if you make 6 figures "200k" , are you still considered middle class ???

i think middleclass nowdays is 30 - 60 k ayear. personally i think if you make 6 figures a year, you're considered rich. I'ts all up to you on how you spend your money, this case, people won't be broke having
"6 figures a year". if i was making that, i'd be living real nice and not have to work 2 jobs

anyways, if your making a million and up,, ... well, your considered millionaire i guess...with that thought, is there any mazda owners in here that are millionaires ????

maybe even a celebrity who owns a mazda..?. or maybe they just don't post ;-)

It depends on how you use the money. 200K is considered the minimum income required to be a accredited investor by the SEC, in otherwords, the government will only let people that make that amount of money or more for at least 3 years in a row invest in the stuff the rich people can invest in. I make decent cash, but chose to have a Mazda because it was simply the best bang for the buck with ample utility. My wife has the car filled with photography equipement, it's reliable enough to make long trips and it gets good gas mileage.. Why pay for a 5 Series BMW when you can do much more for less???? If 10% of our population is actually considered to own 90% of this countries wealth, that means the rest of the people driving 5 Series BMW's are living outside their means, or living with their parents, single and making buku bucks. (sorry, responding to a previous post). If they're still living paycheck to paycheck, they're definately still middle class as class has more to do with your thinking on how to treat and use money than it does with how much money you have. I might be middle class for now on paper, but not for long. If you want to be rich, spend money on assets (things that make you money with out doing much to them), not liabilities like cars, tv's, computers, ect.

 

[Mocoso]

Gotta love income threads... a) no way to validate who is BS and who isnt b) total distortion of real incomes out there c) what you earn isnt a accurate indication of wealth

Ther are a LOT of people out there who earn over 100K who are so highly leveraged ther effective wealth is much lower than someone making half as much....

Wealth is based on your assets...not on how much you make

Anyways its getting dark... I have to go prep the MS3 for another migra run

 

[DeadGeneration]

(bowdown) to some one making 200k and rocking a Mazda. I think it's interesting how people say that if they made that much money they would be driving some thing more expensive. If you make 200k and buy a 70k car, a 1.3 million dollar home, and a 10k Rolex... you might have enough money for food in 10 years. Christmas presents and birthdays? forget that all your money is strapped to paying off your 5 year loan on your 70k car that's now worth 30k.

And about the middle class thing, my parents combined income is pretty damn high and we are middle class. They could buy a million dollar home and a 70k automobile, but then they wouldn't have but $5 for spending on their grandson. And they would never be able to retire, social security wouldn't cut it, and they would die poorer then a Burger King employee.

 

[Loose]

2006 DRZ400SM

Nice bike.

Mine:

 

[Loose]

No..I just dont beleive anyone on the intraweb when it comes to this kind of stuff.(shrug)

meh...

 

[Loose]

(bowdown) to some one making 200k and rocking a Mazda. I think it's interesting how people say that if they made that much money they would be driving some thing more expensive. If you make 200k and buy a 70k car, a 1.3 million dollar home, and a 10k Rolex... you might have enough money for food in 10 years. Christmas presents and birthdays? forget that all your money is strapped to paying off your 5 year loan on your 70k car that's now worth 30k.

And about the middle class thing, my parents combined income is pretty damn high and we are middle class. They could buy a million dollar home and a 70k automobile, but then they wouldn't have but $5 for spending on their grandson. And they would never be able to retire, social security wouldn't cut it, and they would die poorer then a Burger King employee.

+1 The reason I drive the 25K car is that I'm not rich.

Although I make that money I am very "fruggle" and that is one of the reasons that I drive a MS3. In 2004 I was graduating from the first part of my residency and bought a brand new, off the showroom floor, 2004 Mazda 3. I loved it but it just wasn't powerful enough. When Mazda came out with the speed I bought one. As you can see I have been on the board here for 3 years. The OG's here know me. I don't post that much here but with the recent tragedy to my car I figured I would post some and participate in the threads again.

Thanx...

 

[palerider]

Gotta love income threads... a) no way to validate who is BS and who isnt b) total distortion of real incomes out there c) what you earn isnt a accurate indication of wealth

Ther are a LOT of people out there who earn over 100K who are so highly leveraged ther effective wealth is much lower than someone making half as much....

Wealth is based on your assets...not on how much you make

Anyways its getting dark... I have to go prep the MS3 for another migra run

This is not necessarily true. If you are spending on unsecured credit or just "stuff", then I would agree. However it is my personal goal to leverage myself as tightly as possible, in order to increase my present, and future income. If you dont count the worth of my businesses.. then I owe more than I have. But I acquired it in order to increase my income. If you borrow 100k in order to make an extra 5-6k per month, and the debt is secured, then you have leveraged yourself wisely.

Donald Trumps wealth has often hovered into and around negative equity, but yet he continues to build his empire, because as a whole his credit is strong and his projects eventually make money. Its a tight rope, but when you own your own small business and you are trying to amass wealth, you HAVE to make risky decisions. It goes with the territory. I started with virtually nothing, and Im proud of how much I owe. Im close to a million in debt counting my house, cars, and business lines.

But I have zero unsecured credit card debt. None. I am considering a offer on my smaller store for about 225k right now, but it generates about $60k in income per year..... without me really even having to be there.

Would you sell?

I probably wont. Instead I wish I could figure out how to borrow another couple hundred to duplicate it. Hopefully within three years I'll be debt free(not counting my house). Then I wont worry so much.

I feel like your post was directed at me earlier. I dont care if you think Im overestimating my income. However I would like to take this time to offer anybody on the board to order any vitamins, herbs, supplements, protein, HBA, or organics. Stop in for a smoothie if you pass through town. Our prices are good, and our selection is great.(wink)

 

[palerider]

One more thing.

You dont reach UPPER CLASS, until you reach the point that you dont HAVE to work anymore, IMO. Thats when your assets can comfortably support your lifestyle whether you work or not.

I think middle class is defined by how long you could be out of work and pay all your obligations without spending into debt. Most people would have to borrow if they lost their jobs for more than two months. Thats working, MIDDLE class. It doesnt matter where you live or what you make. Its MIDDLE class.

The only debate is whether its lower, middle, or upper.... MIDDLE CLASS. Having a good job doesnt make you rich. Its just too temporary. Having a good job for 20 years, and saving, investing well..... then we'll talk. Then we can call it something else.