Bullitt Mustang - $50k - How the Duck do people afford crap?

[gimmie11s]

I think 401k’s are virtually pointless. My company does 1% match. That’s absolute horse shit.

You think 401k's are pointless or the Co match is pointless?

If the former, please explain.

1% may not but much, but if you make $100k annually, that is a free THOUSAND dollars you are leaving on the table.

A thousand bucks is still a thousand bucks in my eyes.

 

[Coiled03]

I think 401k’s are virtually pointless. My company does 1% match. That’s absolute horse shit.

401Ks aren't pointless, unless you have a shit match like your company. Most companies I've seen, including mine, offer at least 6% dollar for dollar to maintain a competitive benefits package.

 

[DoubleApex]

I think 401k’s are virtually pointless. My company does 1% match. That’s absolute horse shit.

Where are you putting your savings then?

They cut down on your current tax and you miss out on decades of growth. Maxing out a Roth at $5500 a year is also a great retirement account to have.

 

[Mpoitrast87]

You think 401k's are pointless or the Co match is pointless?

If the former, please explain.

1% may not but much, but if you make $100k annually, that is a free THOUSAND dollars you are leaving on the table.

A thousand bucks is still a thousand bucks in my eyes.

I mean the match is horrible. When i think “401k company MATCH” to me that means the company should 100% match what I put in. Most I’ve ever seen is 25% match from a local construction company

 

[Mpoitrast87]

Where are you putting your savings then?

I use the 401k my company provides but at 1% might as well not offer any match at all. With the money I make and the “match” my company offers I will never be able to retire.

 

[gimmie11s]

I mean the match is horrible. When i think “401k company MATCH” to me that means the company should 100% match what I put in. Most I’ve ever seen is 25% match from a local construction company

Thanks for clarifying. Understand what youre saying. Now go back up and read my comments about 401k come tax time.

On the 401k itself, if you are a high earner, you need a way to bring down your taxable income so you don't have to give so much to the damn government. 401k is a great way to do this.

There are tons of benefits to a retirement plan.

 

[Mpoitrast87]

This is becoming like the “is the Cobra still the beast it was” thread.

Every so often I talk with my wife about what the OP is asking. Most of you have already touched on a few things that I see.

I think that auto loans going up to 7 years is part of it and might cause a financial bubble. Lots of people are waiting longer to move out of their parents’ home and aren’t putting money away for retirement

A few years ago my wife and I went camping near Tampa, Florida and went to a local drag race track. We saw an overwhelming amount of lifted diesel trucks with speakers and rims. These things must have been about $80,000 or so. All of the owners appeared to be 25 years old or under.

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Theres A lot of union guys in FL. So a lot bank on that pension for retirement and don’t put anything away.

 

[CV355]

Being a "soyboy" would be crying about how unfair it is and demanding someone make if fair. Free Mustangs for everyone! Or worse yet, "people should not own expensive Mustangs!"

See above. Also, I associate pastel shorts with RLPL and being a country club member that laughs at liberals and poor people.

I mean this kind of soy-based nu-male trend. Effeminate dudes dressed in Easter colors.

They also do the mouth-open excitement face a lot:

 

[gimmie11s]

I mean this kind of soy-based nu-male trend. Effeminate dudes dressed in Easter colors.
View attachment 1496973

They also do the mouth-open excitement face a lot:
View attachment 1496974

Mah man... those aren't soyboys.

THESE.... are soyboys.

 

[Recon]

That’s about the only new car I would like to own that I can afford. But I’m at the point now that I have two more slots open for automobile additions and they are taken. So the 19 Bullitt would have to replace one or more. I used to spend money quite often but now I save every penny I possibly can. It’s fun having multiple cars, but not having a saturated bank account is infinitely worse than having just one car to play with.


Pick your poison.

 

[CV355]

Mah man... those aren't soyboys.

THESE.... are soyboys.

They're all soy-slurping Bern-outs to me haha
But yeah, the ones you posted are definitely drinking the soylent for sure

 

[Dusten]

Thanks for clarifying. Understand what youre saying. Now go back up and read my comments about 401k come tax time.

On the 401k itself, if you are a high earner, you need a way to bring down your taxable income so you don't have to give so much to the damn government. 401k is a great way to do this.

There are tons of benefits to a retirement plan.

This. The difference in my wife contributing to her 401k or not is the difference in us not moving up a tax bracket

 

[HillbillyHotRod]

A lot of folks now days want to have the best stuff RIGHT now. Now if you have no wrorries about surviving retirement that is fine. But most people are in that income bracket. Myself I came from poor family. While there was always food and shelter growing up we had zip extra for other stuff. That being said I have always been frugal with spending so have never bought things I did not really need. Heck the DD 79 GMC K1500 I bought in 85 I still have. Point being every extra cent I got while working I saved or invested. Only wish I had started before mid 30,s. By doing that I retired at 55. Now we have the means to do what we want with no worries. I still do not need or want the latest and greatest as there will always be something greater. I am quite happy with my 700hp 08 GT500.

 

[CompOrange04GT]

Wait... if I contribute more to 401k.. I get less screwed on taxes?

Noted. Did not realize that

 

[VRYALT3R3D]

The manufacturers are extending credit to those who can afford the payment. Just because you can afford the payment, doesn't mean you can afford the car. The debt-income ratio really matters.

When credit conditions become tighter and interest rates increase, the payments will rise. When you have tariffs on steel and potentially tariffs on cars assembled outside of the US, the prices of cars will increase even more. The combination of these factors will not only increase the cost of vehicles, but also steeply drop the demand in cars.

 

[ON D BIT]

People don’t afford it. They finance and pass it to tomorrow where it’s a new loan or bankruptcy.
There are still people turning their lives around. Young family of 5 with the oldest just 6 years old just paid off $154k in 26 months. Now they have tons of income and no debt. Kinda of nice....

 

[BOOGIE MAN]

I mean this kind of soy-based nu-male trend. Effeminate dudes dressed in Easter colors.
View attachment 1496973

I'm not a gambling man, but I'd be willing to bet that 99 out of 100 guys that dress like this come from (old) family money, families that lean pretty right. That's not soyboy, that's Country/Yacht Club Conservative. However, there are the left leaners in this group, but they're not soys, they're PC (PC FOR YOU AND ME, WOO WOO)


My generation, on average, is terrible with money.


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[gimmie11s]

Wait... if I contribute more to 401k.. I get less screwed on taxes?

Noted. Did not realize that

Not sure if serious


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[CompOrange04GT]

Not sure if serious


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I know didly squat about investing or retirement.

I just know what my company matches and thats what I put into my 401

 

[Corbic]

I'm not a gambling man, but I'd be willing to bet that 99 out of 100 guys that dress like this come from (old) family money, families that lean pretty right. That's not soyboy, that's Country/Yacht Club Conservative. However, there are the left leaners in this group, but they're not soys, they're PC (PC FOR YOU AND ME, WOO WOO)


My generation, on average, is terrible with money.


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This.

Those are the typical collegiate “my dads a lawyer” douche bags. The only reason you’d see them at a SJW gathering is because they want to roofie some girl that’s “down with the cause”.


Donald Trump dressed like that in the 80’s.

This is establishment white alpha male stuff, not soyboy beta male SJW cuckloids.