What % of your total wealth is your car(s)/house(s)? - GoFuckYourself.com

Lane · 08-27-2003, 12:07 PM

Would you like your house to be as much as %50 of your total worth? ($500,000 house for a million dollar guy)
or even a car?

I wouldn't let my car go anywhere over 10%, and my house would have to be 30% or less when I'm done paying for it. And I wanna have these %'s go down a lot after 30 years old or so.

A lot of young webmasters buy an expensive car with their earnings as soon as possible and then they are broke, and live in an apt. That car is like over 80% for them probably, which kinda sucks.

So what about you? And what you think is ideal?

On-top · 08-27-2003, 01:09 PM

It's hard to say, since everything is changing constantly. Cars are depreciating assets, houses appreciate. Assets tied up in business fluctuate as well, depending on the season, performance, and the mood of the markets.

I have driven $400 trucks and $30,000 BMWs...but my life is better when it's balanced...with a wider variety of toys, and less extremes. My house I would like to be worth quite a bit, and be constantly improving it. But most of my worth is looking to be tied up in businesses and rental properties. That way instead of my assets costing me, they make me money.

qwe · 08-27-2003, 01:36 PM

you see, you can't save 100% of your earnings, you need to buy something you always wanted in order to be motivated... it's better to buy expensive car you've always wanted then go shopping every day and spend $1k daily or weekly... so after few years you blew alot of money on useless shit but if you would of saved it you could buy a car... I don't think people buy $30k cars and then go broke, if you buy a car for $30k and have $20k left then you should be fine if you keep earning money, so now you have a car, so next you might want a house, so it modivates you not to be lazy and keep doing your thing until you have a car and a house (but you already got car) so 20% accomplished.

IF you into cars and love them I see no reason why you should wait if you got money and $20k on top of that to back it up...

You have to move up slowly, you can't buy house+car+all the shit you want in one shot..

Herb Kornfield · 08-27-2003, 03:06 PM

Propoerty, my land and home, by far is what I consider to be my greatest asset. Never a ride.

My Trucks are nice, but, the value of them is not nearly what I paid for them 2-3 years ago.

Also depends on where you live. Where I am in PA, I got a 3 bed 2 bath, 2000 SQ Ft home for 98k. More than enough space for me and the family.

Total overhead is about 2k a month to cover all expenses.

More than 2-3k a month and I hope you have a really tight game, you never know when the bottom will fall out of what you are doing.

Dont live on it, put it away and save it up, then you can truly pimp and relax.

08-27-2003, 12:07 PM	#1
Lane Will code for food... Join Date: Apr 2001 Location: Buckeye, AZ Posts: 8,496	What % of your total wealth is your car(s)/house(s)? Would you like your house to be as much as %50 of your total worth? ($500,000 house for a million dollar guy) or even a car? I wouldn't let my car go anywhere over 10%, and my house would have to be 30% or less when I'm done paying for it. And I wanna have these %'s go down a lot after 30 years old or so. A lot of young webmasters buy an expensive car with their earnings as soon as possible and then they are broke, and live in an apt. That car is like over 80% for them probably, which kinda sucks. So what about you? And what you think is ideal? __________________

08-27-2003, 01:09 PM	#2
On-top Confirmed User Join Date: Aug 2001 Location: IN Posts: 2,283	It's hard to say, since everything is changing constantly. Cars are depreciating assets, houses appreciate. Assets tied up in business fluctuate as well, depending on the season, performance, and the mood of the markets. I have driven $400 trucks and $30,000 BMWs...but my life is better when it's balanced...with a wider variety of toys, and less extremes. My house I would like to be worth quite a bit, and be constantly improving it. But most of my worth is looking to be tied up in businesses and rental properties. That way instead of my assets costing me, they make me money. __________________ Dynamic Hosting

08-27-2003, 01:36 PM	#3
qwe Confirmed User Join Date: Jul 2003 Posts: 2,109	you see, you can't save 100% of your earnings, you need to buy something you always wanted in order to be motivated... it's better to buy expensive car you've always wanted then go shopping every day and spend $1k daily or weekly... so after few years you blew alot of money on useless shit but if you would of saved it you could buy a car... I don't think people buy $30k cars and then go broke, if you buy a car for $30k and have $20k left then you should be fine if you keep earning money, so now you have a car, so next you might want a house, so it modivates you not to be lazy and keep doing your thing until you have a car and a house (but you already got car) so 20% accomplished. IF you into cars and love them I see no reason why you should wait if you got money and $20k on top of that to back it up... You have to move up slowly, you can't buy house+car+all the shit you want in one shot.. Last edited by qwe; 08-27-2003 at 01:38 PM..

08-27-2003, 03:06 PM	#4
Herb Kornfield Is on the 1 Industry Role: Join Date: Sep 2002 Location: Philly Burbs Posts: 4,996	Propoerty, my land and home, by far is what I consider to be my greatest asset. Never a ride. My Trucks are nice, but, the value of them is not nearly what I paid for them 2-3 years ago. Also depends on where you live. Where I am in PA, I got a 3 bed 2 bath, 2000 SQ Ft home for 98k. More than enough space for me and the family. Total overhead is about 2k a month to cover all expenses. More than 2-3k a month and I hope you have a really tight game, you never know when the bottom will fall out of what you are doing. Dont live on it, put it away and save it up, then you can truly pimp and relax.