Car Loans - keeping America poor?

[Reburn]

Hello McFly……where did i say there are NEVER slobs trying to do work? I said it’s not “95% have no idea”.

BTW…..that looks like contractor work to me.

We will agree to disagree on the percentage of people that cant diy.
I feel sorry for you if the contractors you know do work like that.
Good thing you can do better yourself.

 

[Customweld]

My issue is my talent happens to be below my standards in most cases.

I'm definitely stealing that!

To expand on your daycare attachment. My wife owned a daycare and that thing was a money making sob. She had a a pretty broad range of clients, that most definitely lived up to all the stereotypes. The single moms on state assistance, who needed to drop their kids off so they could go shopping. They always had immaculate hair and nails but had a really hard time paying their share of the daycare bill. The single mom and dads with no state assistance that busted their ass (they always got a discount) and the stable couples who always paid in cash (also got a discount). The kids paid the biggest price though.

Sorry for getting off topic!

 

[Billinsd]

Growing up, we always used vice grips on the window cranks. Served multiple purposes when you broke down too.

You’d better believe there’s a lot of truth to that.

And vice grips to secure the distributor.

 

[Billinsd]

The lack of skill among men today is very consistent, the ability to recognize their own limitations is another. Multiply by 30 if they are an Engineer. Those guys homes are almost universally in decay.

Damn right, generally speaking!!! Especially us civils!!! However, my mechanical engineer friends are real good with their hands and that’s gold!

 

[missjordan]

When we were younger i remember we bought a truck that had $600 month payments and when we traded it in down the road the trade in value was the same amount we owed on the outstanding loan. I wanted to throw up because that meant we were paying $600 a month just to have a vehicle to drive that had no equity.

We set a budget with the next rig and threw every dime at it and got it paid off. I never want another truck payment again. I’m actually excited to hit the 10 year mark for Montana lifetime registration. Only a couple years away from that.


Sent from my iPhone using Tapatalk

 

[KenLee]

We have a neighbor who complains about how it's a break even on one of their salaries for daycare.
I have very pointedly asked them why they would go work and pay someone else to raise their kids for a break even. I don't want to give up my career they say....
I have pointed out my wife was a stay at home Mom for 12 years, it ended up saving us more money than we ever thought, we raised our own kids, and now my wife had a great job.
People priorities the damn dumbest things over their family.

Is your neighbor Bernie Mac?

 

[go_deep]

Is your neighbor Bernie Mac?

No, no it's not.

 

[CorbLand]

We have a neighbor who complains about how it's a break even on one of their salaries for daycare.
I have very pointedly asked them why they would go work and pay someone else to raise their kids for a break even. I don't want to give up my career they say....
I have pointed out my wife was a stay at home Mom for 12 years, it ended up saving us more money than we ever thought, we raised our own kids, and now my wife had a great job.
People priorities the damn dumbest things over their family.

I think there are quite a few people that have kids because it’s what your “supposed” to do, not because they actually want them.

 

[KenLee]

I think there are quite a few people that have kids because it’s what your “supposed” to do not because they actually want them.

Amen

 

[go_deep]

I think there is quite a few people that have kids because it’s what your “supposed” to do not because they actually want them.

I really don't know what it how to take that statement, but as a father, I wish I had 5 more kids.
My kids are simply the greatest accomplishment, achievement, and things in my life. I truly feel sorry for someone that has a child and can't, or didn't see it that way.
Until very recently I have worked multiple jobs, passed up numerous opportunities due to not being willing to take that money from my family, and straight up sacrificed a lot of time for my family, and would happily do it all over again.
That is the hardest thing or society can't comprehend anymore. You should be willing to self sacrifice for others, not what's best for me in every scenario, me, me, me.

 

[Jimmy]

So to summarize...

1. Open a day care
2. Get paid tons of cash
3. Pay cash for new vehicles and repairs on your home

 

[Billinsd]

I think there are quite a few people that have kids because it’s what your “supposed” to do, not because they actually want them.

The wrong people are having kids in general. People that are smart, intelligent, responsible, and good are not having kids, or just one because the cost of raising them well is so expensive and the responsibility is so high to them. Since, women’s lib if your wife doesn’t work, at least doesn’t work when the kids go to elementary school and you the breadwinner don’t make close to a quarter mill a year, you are way behind financially. My wife took a few years off when the kids were real young, however, if she didn’t bring in money, we wouldn’t be able to do much, and our kids prospects for higher education and a great future, greatly diminished. I have several friends whose wives never got a job, even after the kids left home and they really have to make do with very little. My own friend is extremely bitter about it, LOL, he demanded that my wife “must stay at home”. On the flip side my other friend whose wife will never work isn’t nearly as freaking stressed out as me and my family. He can’t go anywhere more than a few hundred miles from home, can’t really do much, but the family is not pushing and striving so damn hard, like me. There is a big cost in pushing so hard and it’s taking a big toll on my health.

 

[Customweld]

So to summarize...

1. Open a day care
2. Get paid tons of cash
3. Pay cash for new vehicles and repairs on your home

You got to do it all within 3-4 years though. The average day care operator only lasts about 3 years before every thread of their sanity is gone.

 

[Billinsd]

So to summarize...

1. Open a day care
2. Get paid tons of cash
3. Pay cash for new vehicles and repairs on your home

My wife’s friend did that and made a fortune! Her dead beat husband left her and took half!!

 

[IdahoElk]

Paying over MSRP for something that depreciates 20% the minute you take it home while paying 7%+ for the loan was always nonsensical to me.

 

[Felix40]

Yeah, you could do that. Then what? I'm not sure how old you are, but what are you going to do with the rest of your life? I used to think the same thing. Will you or your wife buy some of the things you always longed for if you make more money? A lot of things are nice, but when you have them, you realize they are not life changing.

I would do things that I actually enjoy and have the freedom to try all kinds of different stuff.

Stop answering my work phone on days off. Stop working weekends.

Work jobs that would help me learn a skill like auto mechanics, carpentry, machinist type stuff.

Bow hunt all different states all fall and camp out of my truck. Go to the lake all summer. Attend all of my son’s sporting and school events. Go to the gym more often. Start coaching a jiu jitsu and mma club at the high school. Restore old shitbox trucks.

The main thing would be the freedom to make changes without giving up the retirement fund you’ve been working for so long.

Luckily my wife and I have always been poor so we don’t need a lot of things. We paid our bills and had some fun even when I made less than $40k (yeah that’s for a whole year) for the first 7 years of our marriage.

Even if I worked 8-10 years at that kind of salary and was pretty undisciplined with money, I could put enough in a retirement account to withdraw more than I make now for the rest of my life.

I guess if you can make $30k a month and enjoy going to work, you should do that for as long as you want.

 

[Billinsd]

I really don't know what it how to take that statement, but as a father, I wish I had 5 more kids.
My kids are simply the greatest
accomplishment, achievement, and things in my life. I truly feel sorry for someone that has a child and can't, or didn't see it that way.
Until very recently I have worked multiple jobs, passed up numerous opportunities due to not being willing to take that money from my family, and straight up sacrificed a lot of time for my family, and would happily do it all over again.
That is the hardest thing or society can't comprehend anymore. You should be willing to self sacrifice for others, not what's best for me in every scenario, me, me, me.

You are obviously a very good man and great father!!! I have two kids and both my wife and I would NEVER WANT MORE!!! However, that’s because we both work so hard at our jobs and it’s too much. I would love to have had maybe 3 or 4 kids if both my wife and I didn’t have to work. I see it as my wife and I spend so much time with our kids!! Unfortunately, our kids go to public schools and in San Diego, they are awful in my opinion! If your kids are average and you don’t care too much about education, you are golden! Which most are. If your kid is smart or has a learning disability you are screwed big time!!! IMO. We advocate so hard for our kids, push the school so hard, keep the pressure on. Out of 500 classmates my Sophomore son has about 20 that are top students and it drops off a cliff after about 50. We see the same families at church, Boy Scouts, swim team events, etc. We are Grizzly moms, the wife and me, lol. Recovering helicopter parents. However, we don’t go too overboard, like the mostly Asian schools where the stereotype kids line up 45 minutes before school starts and hate their parents and are miserable. My kids took prep courses from an expensive school with them for the SAT. I say I want my kids to have a GREAT education, experience serving the community, and GREAT OPPORTUNITIES after college!! It’s up to them to take advantage or not and they need to lean their mental boundaries. I cannot give that to my children if I don’t make a decent amount of money and more important the vast amount of time and to fight, fight, fight for them!

 

[Billinsd]

Paying over MSRP for something that depreciates 20% the minute you take it home while paying 7%+ for the loan was always nonsensical to me.

It’s very very expensive to me. Cars and a truck are like appendages to me. Virtually every car you buy is a depreciating asset! I strive to minimize that loss as much as possible. My daughter’s boyfriend and family buy cars at auctions and flip them and work on them and drive them. I have friends that do the same. This is the most cost effective way to own and operate cars by far! I don’t want to go that far, I really DON’T generally like working on things. I do what I’m competent and comfortable doing.

 

[Billinsd]

You got to do it all within 3-4 years though. The average day care operator only lasts about 3 years before every thread of their sanity is gone.

My wife’s friend has been doing it for over 20 years and she lost her mind a few years ago after her dead beat husband left her and took more than half! It takes a very special person to operate a day care!!!

 

[KenLee]

My wife’s friend has been doing it for over 20 years and she lost her mind a few years ago after her dead beat husband left her and took more than half! It takes a very special person to operate a day care!!!

She should have shanked him