Are there a lot of Rich BITOGers?

Originally Posted by Ws6
Originally Posted by ad244
Afternoon everybody... The more and more older threads I read through (and new threads) I see some people on here with some impressive rides. Corvettes, Porsches, Buicks etc and I cant help but get the feeling that the BITOG forum has a lot of well to do members. Plus Ill see the stashes of 200+ quarts of oil and all the money it takes to buy that much oil and store it.... you guys must have some big houses.

Maybe its just the members are more frugal or maybe we just have some oil tycoons on here?

...what qualifies as "rich"?

I've owned some fun cars. I have a decent house. I have some neat toys...but am I rich? I don't consider myself to be rich. I think the perception of "rich" is a sliding scale based on how much you make. Then triple it, and that's your perception of "rich", ROFL!

Originally Posted by clinebarger
I just consider myself lucky....... Great women by my side that makes really good money, Decent day job myself that I enjoy. Bought my property before before prices went crazy.

Housing is the biggest hurdle I see for younger folks.....Vehicles don't mean much of anything in the whole scheme of things.


I tend to disagree. Housing ain't nothin' but a peanut.
-Make enough that your house will take up 27% of your gross monthly income, or less, and that your vehicle and house combined, will not take up more than 40%. At today's interest rates on a fixed 30y loan, that means you have $500 per $100K financed. Back when I worked at Chili's waiting tables, that meant I had financial room for a $100K house, easy. A $150K house, if I worked harder. That's a male, waiting tables, in one of the most repressed economies in America (during that time our city was rated 382 out of 382 for GDP, lol! If you want to see what a real [censored] hole looks like, Shreveport, LA)
- With an RD loan, $0 money is required to purchase the house. I bought my current house with an RD loan, and my PMI is roughly $55/mo, and my interest rate is 3.75.



You are in a very unique situation here a mortgage and escrow will be 3 times that easy.
 
Originally Posted by dave1251
Originally Posted by Ws6
Originally Posted by ad244
Afternoon everybody... The more and more older threads I read through (and new threads) I see some people on here with some impressive rides. Corvettes, Porsches, Buicks etc and I cant help but get the feeling that the BITOG forum has a lot of well to do members. Plus Ill see the stashes of 200+ quarts of oil and all the money it takes to buy that much oil and store it.... you guys must have some big houses.

Maybe its just the members are more frugal or maybe we just have some oil tycoons on here?

...what qualifies as "rich"?

I've owned some fun cars. I have a decent house. I have some neat toys...but am I rich? I don't consider myself to be rich. I think the perception of "rich" is a sliding scale based on how much you make. Then triple it, and that's your perception of "rich", ROFL!

Originally Posted by clinebarger
I just consider myself lucky....... Great women by my side that makes really good money, Decent day job myself that I enjoy. Bought my property before before prices went crazy.

Housing is the biggest hurdle I see for younger folks.....Vehicles don't mean much of anything in the whole scheme of things.


I tend to disagree. Housing ain't nothin' but a peanut.
-Make enough that your house will take up 27% of your gross monthly income, or less, and that your vehicle and house combined, will not take up more than 40%. At today's interest rates on a fixed 30y loan, that means you have $500 per $100K financed. Back when I worked at Chili's waiting tables, that meant I had financial room for a $100K house, easy. A $150K house, if I worked harder. That's a male, waiting tables, in one of the most repressed economies in America (during that time our city was rated 382 out of 382 for GDP, lol! If you want to see what a real [censored] hole looks like, Shreveport, LA)
- With an RD loan, $0 money is required to purchase the house. I bought my current house with an RD loan, and my PMI is roughly $55/mo, and my interest rate is 3.75.



You are in a very unique situation here a mortgage and escrow will be 3 times that easy.


Around here, it's more like at least 4-5x times more in a cheap town and in regular to expensive towns anywhere from 8-15x more. The of course once you're over 15, then it might be a luxury home. Lots of starter new construction homes in the 800k-1000k range in this area.
 
Rich? Hard working people coming out to mingle is what is happening. They buy new Lamborghini/Ferrari cars new and people like me wait for them to sell down the road. Bought the 2000 Porsche Boxster that way. Lady traded in for a Z series BMW. We drove it and sold it later. When I see fancy cars and lots of them I see Capitalism,"old money, and confidence in the economy. To all those "rich" people out there I am looking for a older NSX or S2000!
 
Originally Posted by Marco620
Rich? Hard working people coming out to mingle is what is happening. They buy new Lamborghini/Ferrari cars new and people like me wait for them to sell down the road. Bought the 2000 Porsche Boxster that way. Lady traded in for a Z series BMW. We drove it and sold it later. When I see fancy cars and lots of them I see Capitalism,"old money, and confidence in the economy. To all those "rich" people out there I am looking for a older NSX or S2000!


Sign me up for a Z32TT and a VR4!!
laugh.gif
 
I have to admit I do get a little jealous when I'm in my RSX at a red light and a BMW M5 or AMG Benz pulls up beside me. A few weeks ago I was in Ft Lauderdale and I was next to an Aventador SVJ and was drooling.

It sure must be nice to be rich....
 
Originally Posted by ecotourist

In "The Millionaire Next Door", the author discusses trying to determine the habits of millionaires, by inviting people who have a lot of money to get-togethers. But poorly dressed folks turn up who don't even know what to do with the fancy food and drink on offer. One of the group trying to figure out the millionaires eventually asks, "Where are all the millionaires that look like millionaires?"

Point is, many people with real folding money have modest habits. And many people with lots of expensive stuff are just able to make the payments.

A couple of years ago, I visited a Fidelity branch to fund a newly opened account. One older couple was talking to a rep about transfering some millions. After they were done, they hung around (they were moderately dressed), helped themselves to cookies and cofee, and the husband stuffed his pockets with candy and bottled water before they left :)). Another moderately dressed (if not less, he had shorts and a flower shirt) guy seemed to be there just to eat cookies and drink cofee while being entertained by the provided newspapers.
 
Originally Posted by zorobabel
Originally Posted by ecotourist

In "The Millionaire Next Door", the author discusses trying to determine the habits of millionaires, by inviting people who have a lot of money to get-togethers. But poorly dressed folks turn up who don't even know what to do with the fancy food and drink on offer. One of the group trying to figure out the millionaires eventually asks, "Where are all the millionaires that look like millionaires?"

Point is, many people with real folding money have modest habits. And many people with lots of expensive stuff are just able to make the payments.

A couple of years ago, I visited a Fidelity branch to fund a newly opened account. One older couple was talking to a rep about transfering some millions. After they were done, they hung around (they were moderately dressed), helped themselves to cookies and cofee, and the husband stuffed his pockets with candy and bottled water before they left :)). Another moderately dressed (if not less, he had shorts and a flower shirt) guy seemed to be there just to eat cookies and drink cofee while being entertained by the provided newspapers.


Yeah, I like to keep all my funds at Fidelity so when I was there for an appointment before, the guy looked up my account and I saw his eye pop up a little bit. It's a decent amount as it's all my Roth/IRA and regular cash account. It was the summer so I think I was just wearing a T-shirt and I guess I look young for my age.
 
Originally Posted by PandaBear
Originally Posted by fisher83
I'm neither rich or poor but it's not hard to make a decent living in the Midwest. They say if you can't find a job here in Omaha you must not be looking for one. $150k will buy you a modest 3 bedroom house even now with the seller's market being what it is. My current home is 4 beds 3 baths 2,100 square feet and was $165k. A lot of the folks I work with transferred here from San Ramon, CA and were blown away at how much lower the cost of living is. So by California standards I'm probably poor but I'm doing pretty well here in Nebraska.


You are qualified to apply (not accepted) for Palo Alto's affordable housing program if your household income is less than $200k, but yeah, $165k would not even get you a mobile home already in the park.

It is true that Nebraska has a need for workers in almost every field. Around our area, I can't get an eleven year old kid to sit on his hind side and pick weeds out of gardens for $15.00 an hour. Kid tried it for about thirty minutes and decided he wasn't a weed guy. He wouldn't pull weeds for twenty dollars an hour. Watching him for several minutes it was easy to understand why. That kid looked like stop motion animation in slow motion. Couldn't pick fifteen dollars worth of weeds in fifteen days. How hard is it to sit on a cushy pad supplied by us and pull weeds out of mulch or gravel.When we were in the process of moving, I wanted to purchase a townhome with minimal landscaping. The war department didn't want anything to do with that nonsense. We simply would limit the landscaping for this new house. In a pigs eye. Now I'm talking to the local rescue mission about doing several things we need done in our landscaping. No call back so far. Gave the director a dollar amount I will pay for the two jobs and asking that they pay $15.00 an hour. Figure the labor will be $200 and the mission will get the $150 remaining. Don't think latest plan is going to fly. Wife received a bid of $1,600 dollars from local nursery/landscaping outfit. And they DON'T do weeds. Just like the kid. Just can't find anyone for outside projects. Lawn sprinkler outfits not interested in installing a fifth station and retaining wall contractor hasn't returned calls. It's a great time for contractors now. It has been my experience that the worm turns. Only I don't have the longevity to see it come to fruition. Bah Humbug.
 
Originally Posted by Mr Nice
I have to admit I do get a little jealous when I'm in my RSX at a red light and a BMW M5 or AMG Benz pulls up beside me. A few weeks ago I was in Ft Lauderdale and I was next to an Aventador SVJ and was drooling.

It sure must be nice to be rich....




Nice to see those cars, but how many of us oil hoarders would want to pay for a $1500 or highee service for a car like that? I saw a McLaren in downtown Toronto yesterday with a nice layer of dirt covering the carbon fiber.

Guy can't afford to get his car washed lol.
 
Originally Posted by madRiver
Case in point not what it appears.

A pizza delivery guy in mid 20's just showed up in a 2015 BMW 3 series.
lol.gif
I ask are you doing this as a side gig and he said no full time.




I'll bet that guy is delivering a lot more than pizza.

Sorry for quoting.
 
There is also the well known story of a guy in Spokane WA who closed his account at his bank after they wouldn't validate his parking ticket.

Search for it if you haven't read the story. This happened in the 80's I believe.
 
Originally Posted by JC1
Nice to see those cars, but how many of us oil hoarders would want to pay for a $1500 or highee service for a car like that? I saw a McLaren in downtown Toronto yesterday with a nice layer of dirt covering the carbon fiber.

Guy can't afford to get his car washed lol.


It could be he has other things to do with his time. Right now my Mustang has a layer of dirt on it and hasn't been washed in a couple weeks. I know I should, but I have been busy.
 
The Mustang forum I frequent is an eye-opener. There are tons of guys my junior on there who've dropped $40K + on loaded Mustang GTs, while I'm in an Ecoboost. I can't swing a GT payment, and I'm nearly 50. Well, I suppose I could, but don't want to. Between the purchase price, gas and insurance, that 'workaday' car is out of my league. That 911 Targa I've dreamt of since I was 13 will remain a dream.

Kudos to those out there who have serious bank. They say money can't buy happiness, but I think those people just aren't shopping in the right places.
 
Originally Posted by WylieCoyote
Kudos to those out there who have serious bank. They say money can't buy happiness, but I think those people just aren't shopping in the right places.


Lot's of money doesn't buy true happiness, but it certainly takes any headaches and stress off situations caused by financial problems. Lack of financial problems is certainly a happier time, but it's not true long term happiness that counts.
 
Originally Posted by JC1
Originally Posted by Mr Nice
I have to admit I do get a little jealous when I'm in my RSX at a red light and a BMW M5 or AMG Benz pulls up beside me. A few weeks ago I was in Ft Lauderdale and I was next to an Aventador SVJ and was drooling.

It sure must be nice to be rich....




Nice to see those cars, but how many of us oil hoarders would want to pay for a $1500 or highee service for a car like that? I saw a McLaren in downtown Toronto yesterday with a nice layer of dirt covering the carbon fiber.

Guy can't afford to get his car washed lol.


OR, maybe it's just a car to him or her. Maybe one of several exotics they own.

I recall my first time driving through Carmel, Ca on the main street. Exotic cars parallel parked nose to tail, and most of them pretty dirty.

Then on the 17 mile drive on the peninsula, at a pullout, a couple teenage girls who said they were friends who lived nearby, pulled over in their matching yellow Lamborghini's. When you live in a 30+ million dollar home on the Monterey peninsula, and your daughter wants a yellow Lambo like her friends, well, it's pocket change.
 
It can also be an eye opener when you're given the opportunity to see what's behind the wizard's curtain. You start off envying the guy driving the M5, until you see the rest of his life. He either works 70+ hours a week to keep his business running, or his boss happy, or he's leased up to his neck in that M5, and is on the verge of bankruptcy because he's living way beyond his means. Money isn't buying happiness in these cases, so be careful of envy.

I work a 45 hour week, drive a 2018 Mustang, and live in a 2,000 square foot home in a middle-class neighborhood with an HOA. You'd have to give me a serious pay increase for me to mess with this formula. I'll always envy the 911 sitting next to me at the light, but it's not likely that I'll envy that person's work-life balance. And if the driver happens to be 'kept', that's not all its cracked up to be either. The price of free money is control.
 
Originally Posted by WylieCoyote
It can also be an eye opener when you're given the opportunity to see what's behind the wizard's curtain. You start off envying the guy driving the M5, until you see the rest of his life. He either works 70+ hours a week to keep his business running, or his boss happy, or he's leased up to his neck in that M5, and is on the verge of bankruptcy because he's living way beyond his means. Money isn't buying happiness in these cases, so be careful of envy.

I work a 45 hour week, drive a 2018 Mustang, and live in a 2,000 square foot home in a middle-class neighborhood with an HOA. You'd have to give me a serious pay increase for me to mess with this formula. I'll always envy the 911 sitting next to me at the light, but it's not likely that I'll envy that person's work-life balance. And if the driver happens to be 'kept', that's not all its cracked up to be either. The price of free money is control.


Well said. Work balance with life satisfaction is what it is all about. My wife and I both had seasonal work schedules (60+ hours in the couple or three month winter season) and 35-45 hours the rest of the year. We had a modest 3BR/1.5BA sub-2,000 sq foot main house near our work in the big city and modest vehicles that many BITGOG posters would not be caught dead in.

We did splurge on a weekend home (modest size) near the shore with a modest boat a couple of hours drive away. Spent 40+ weekends a year there to clear our heads, relax and enjoy nature and the beach. Keeping two modest homes was expensive, but allowed us to earn the money needed for this lifestyle as well as substantial savings for retirement, which we are close to at the moment.

To each their own.
 
Originally Posted by ZeeOSix
Originally Posted by WylieCoyote
Kudos to those out there who have serious bank. They say money can't buy happiness, but I think those people just aren't shopping in the right places.


Lot's of money doesn't buy true happiness, but it certainly takes any headaches and stress off situations caused by financial problems. Lack of financial problems is certainly a happier time, but it's not true long term happiness that counts.



The end of the day my realization in life is if you spend less than you make you don't have debt besides a mortgage being paid off in 15 years or less you become very happy with life. More income helps that however if in consumer debt or spend as much as you make then stress level increases counter acting happiness.

Cars and material things can make you happy as long as you don't have financial stress and actually pay for them outright.
 
I am not rich or even remotely wealthy but I have had an exceptionally good career in business which has helped me to save an invest much of my earnings. That being said I am cheap as [censored] when it comes to buying things I talk about on this site. I am always trying to find the best deals on oil, filters, cars, etc. I want quality products at the lowest price point, I've got to make the most of what I have earned
smile.gif
 
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