Is $200k enough to be considered BLING BLING?

[High Quality]

My buddy (not in this biz) is on track to make about 200k in 2004, maybe more and today he tells me he wants to buy a benz.

He made about 60k in 2003 and I told him it was a bit risky to spend $60k on a car makin only 200k

Any opinions?

[tootie]

Too risky, IMO. Last year I made.. well, I don't want to say exactly, but it was approaching what your friend is on track to make this year. Now things are not so good. Just tell him it's not advisable. You never know what can happen. Sponsors fold, payouts change, new laws, etc. Very unpredictable.

Anyone need any design work, hit me up. ICQ 460-0137

too risky
let him invest it, and buy the car with the money his assets bring him

then his car will REALLY be worth something

[quiet]

i'd say it was a very bad move. 200K is jack shit, especially if there is a downturn. and i'm assuming that's before taxes.

basically, a stupid idea.

[i am a lurker]

tell him it's ****** rich if he buys a benz now. Especially if he only made 60k last year

Invest it, work it so you minimize the tax hit, and buy the benz later when his money is working for him.

[herbal logic]

hold off for the boat

[DrewKole]

In cash or what?

Put 10-20% down, finance the rest... If his job becomes shit, then sell the car, assuming you got an ok deal on it, he won't lose that much money on it.

MB holds value well enough, now a $60k ford... thats another story

[Mike-BP]

200k is nothing

I wouldn't take the risk.

[strobi]

If he's sure he can hit the 200K for a few years.. sure go for it.

[Raf1]

that would be pretty stupid. A car like that is not a good investment, and who knows what will happen in 2005. He should take it slow and buy what he is sure he can afford

[i am a lurker]

Originally posted by DrewKole
In cash or what?

Put 10-20% down, finance the rest... If his job becomes shit, then sell the car, assuming you got an ok deal on it, he won't lose that much money on it.

that is worse than being ****** rich.

you are not to bright eh?

[Jdoughs]

Id tell him yeah man..buy a car..its great for motivation to have a mint toy from your efforts..but not a fuckin benz

Spend 20-30...snag a sweet mini or something..something he can be a hero with when he gives it to his wife next year.

when he buys his benz

[Rico]

Try to 200k a month man, then buy the benz.

[SoundMan]

tell him to buy a used benz for 30k ..

[polish_aristocrat]

The thread title says "is 200k enough to be considered BLING BLING?" and to answer this question, I would say "yes".
Sure, people like quiet will disagree, but on the other hand $200k per year is $16k+ per month and the average American earns...what...$3k per month?

[DrewKole]

Originally posted by i am a lurker
that is worse than being ****** rich.

you are not to bright eh?

Woot @ anon postings.

Gotta love the underage surfers who haven't even finished their GED, but love to attempt to flame. =)

Originally posted by polish_aristocrat
The thread title says "is 200k enough to be considered BLING BLING?" and to answer this question, I would say "yes".
Sure, people like quiet will disagree, but on the other hand $200k per year is $16k+ per month and the average American earns...what...$3k per month?

no doubt
200k$ is pretty nice bling!

but I mean who knows what will happen in the years to come?

spending 1/3rd of your money on a car is pretty stupid, it would be MUCH better to invest it somehow and make the money make you even more money, instead of just "throwing it away" like that

[cayne]

for sure a benz ownz:



but it's indeed a very risky thing.

[i am a lurker]

Originally posted by DrewKole


Woot @ anon postings.

Gotta love the underage surfers who haven't even finished their GED, but love to attempt to flame. =)

get out some paper and a pencil.

Calculate the interest payments on a 3 year and a 5 year plan on a 60k vehicle.

Now take the amount of interest you calculated, and look at what the car ended up costing you.

That interest is an opportunity cost. It could have been making you money elsewhere.

But idiots like you can not see the big picture.

[High Quality]

Yeah, I don't make 200k a year so I can't really help him on this.

I know quiet and others here make plenty more than that.

I told him I didn't think it was a good idea to buy it but he wants that benz SUV

I told him to get a mazda RX8 if he wants something fast, looking good and revolutionary.

[DR_PHIL]

a waste imo

[Ar3s]

Originally posted by bdjuf
too risky
let him invest it, and buy the car with the money his assets bring him

then his car will REALLY be worth something

allways hear bdjuf =) his de best!

[herbal logic]

true blingers got twin diesel catepillars under the "hood"

[detoxed]

I gaurantee the average $60k Benz owner makes less than $200k a year.

[myjah]

you only live once...but i recommend he put a chunk into savings or investments first

[beemk]

bad idea, he should invest it

[kimzar]

depends on what kind of biz and if he has any responsabilitys

[Mike-BP]

Originally posted by detoxed
I gaurantee the average $60k Benz owner makes less than $200k a year.

yes, but the average benz owner isn't working in the online adult industry - a risky bizz.

[AmeliaG]

How risky getting a car like that would be depends partly on what industry your friend is in. In my opinion, it is good for motivation to sometimes reward yourself. Worst case scenario, your friend enjoys the car now, has to sell it later, and could have had better equity with a less nice ride. Big deal if he gets enough enjoyment out of it.

[4Pics]

get the car! nohahahaha is going to pay cash for it so just put a nice downpayment on it go from there.

[fuzebox]

I'd do it

What's the risk? There's always ways to make more money, and if the shit gets tough, sell the car.

[High Quality]

Alright I talked him out of it

[ztik]

200k a year isn't shit. specialy in our fucked up economy / industry. I would tell him to invest / save it all.

[acctman]

i like BMWs =)

[rounders]

BMWs are the shit!

[BigVlad]

$200m year , it's the real bling bling

[m00d]

will he be making $200k in a field that is solid for the next 10 years?

[Za Ha]

Put down like $20k and lease the rest.
You can hahahahaha off a bit of the lease as well.

[bigdog]

This thread is funny, there a lot of people who make less and are driving a benz,if he finaces it and his biz is solid why not

[FreeOnes]

Originally posted by bigdog
This thread is funny, there a lot of people who make less and are driving a benz,if he finaces it and his biz is solid why not

the point is that this guy even didn't make his 200k yet. First earn then you can spend some of it. Assuming he has to pay 1/3 taxes the car costs 1/2 of his net profit. Depending on his current financial situation he can buy it. However if he doesn't have any other buffers I would recommend not to buy it yet (maybe the yeard after this one). Driving a car cost money too (even if you don't drive it!). my

[quiet]

Originally posted by bigdog
This thread is funny, there a lot of people who make less and are driving a benz,if he finaces it and his biz is solid why not

are you doing the same thing?

[The Alibi]

Why buy a flashy car to impress people you don't know? Money is finite, and while you don't necessarily need money to make money, it makes it a hell of a lot easier to make more. He's only limiting himself by not investing that money.

Yeah, and the words "****** rich" come to mind too.

[boneprone]

kids

[Liberty]

Originally posted by herbal logic
true blingers got twin diesel catepillars under the "hood"

http://www.twistedstone.com/IMG_0847.JPG

[scoreman]

You really havent told us enough to make a good evaluation. Assuming he lives in the USA, some questions like these come to mind:
--What is his debt level?
--Does he currently own a home or rent?
--Does he have any investments?
--Does his job have a retirement acct like a 401k? If so is he fully funding it?
--How stable is his job?
--Did he fund his IRA this year?
--Does he have dependents?
--Is he married?
--What is his current cash reserve level?
--Is he buying the car new or used?
--Is he paying all cash or financing?
--What are the terms of the financing?
etc etc

In general, cars are not investments. They depreciate, they have a relatively short life expectancy and they are really expensive. If, however, your friend has many assets, stable employment and has funded high return opportunites like 401ks, IRAs etc, then why not spend some on a vehicle? Personal wealth is not just about net worth, it has alot to do with happiness.

If, however, your friend rents, carries credit card debt and has not put dollar one into retirement accounts, then blowing all that dough on a Benz would be an exceptionally poor decision.

[Trax]

i dont think its a good idea either
capitalism doesnt work with reinvesting the money made

[Brujah]

Originally posted by Mike-BP

yes, but the average benz owner isn't working in the online adult industry - a risky bizz.

Neither was his friend.

Tell him get the car man.. I know lots of people with $50k and $60k cars that make 1/2 what he does.

[Axeman]

I would say risky for sure. Bank some of that pay increase and build up a good retiremrent portfolio before you go showing off your cash. Could bite you in the ass.

- Brent

[Minte]

Make your first million,then get the car you want.
200k isn't bling..it's barely upper middle class

[blazin]

Better off buying property