6spdg37s Posted August 6, 2010 Share Posted August 6, 2010 Ok so now the bike is gone ! I have the z06 and I have the g37s. There is 4 months left of the G I owe a total of 900 on my lease... I prepaid my insurance for the next 6 months on it I am probably going to pay the lease balance and give the G car back in and and get some of the insurance money back... then comes the time to figure out what toy to purchase next... I have A.D.D. with cars and bikes... so idk what im gettin next...but no bikes again for a few years Link to comment Share on other sites More sharing options...
IMADreamer Posted August 6, 2010 Share Posted August 6, 2010 I don't want to sound like a jerk but how about a house? Don't you still live at home? Cars are nice and all but unless you own your own home all the fancy cars in the world will just make you look like a bit of a tool. If I've somehow missed that you've bought a house in the last couple months disregard that statement. Link to comment Share on other sites More sharing options...
JJ1o87 Posted August 6, 2010 Share Posted August 6, 2010 I don't want to sound like a jerk but how about a house? Don't you still live at home? Cars are nice and all but unless you own your own home all the fancy cars in the world will just make you look like a bit of a tool. If I've someone missed that you've bought a house in the last couple months disregard that statement. Ah, I like where this thread is going. Link to comment Share on other sites More sharing options...
Chris@Adams Posted August 6, 2010 Share Posted August 6, 2010 Enjoy your nice Z06! Link to comment Share on other sites More sharing options...
70'sChevyGirl Posted August 6, 2010 Share Posted August 6, 2010 Ah, I like where this thread is going. You need a place to stay Jeff?? I love toys but I own a house. I might suggest a toy that goes through the snow. Link to comment Share on other sites More sharing options...
StormChaser Posted August 6, 2010 Share Posted August 6, 2010 Did someone say snow machine! Oh yea...let's go sledding! Link to comment Share on other sites More sharing options...
6spdg37s Posted August 6, 2010 Author Share Posted August 6, 2010 I don't want to sound like a jerk but how about a house? Don't you still live at home? Cars are nice and all but unless you own your own home all the fancy cars in the world will just make you look like a bit of a tool. If I've somehow missed that you've bought a house in the last couple months disregard that statement. I am saving for a house which is why I sold the bike ... I generally spend a check save a check ... plus I am only 23 so I still got time to buy a house and 20% contribution going into my 401k which I can ultimately use for a first time home purchase so lets use round numbers for arguments sake ... 1000 check every 2 weeks after 20% pre tax contribution 300 goes into 401k x 2 so im saving 600 a month in 401k check gets broken up into car payments and spending money... second check comes in a majority of it goes into savings so I am saving almost 50% of my post-tax income which is excellent considering last year the average american savings was - 1.5% of their total earnings meaning most people were in debt fyi this isnt my real salary #s obviously just an example for percantages Link to comment Share on other sites More sharing options...
6spdg37s Posted August 6, 2010 Author Share Posted August 6, 2010 I might suggest a toy that goes through the snow. Im not gonna worry about snow lol ... the excess radiation coming from the massive amounts of garbage that jeff resides on a.k.a staten island...melts the snow in jersey as well !! Link to comment Share on other sites More sharing options...
70'sChevyGirl Posted August 6, 2010 Share Posted August 6, 2010 Im not gonna worry about snow lol ... the excess radiation coming from the massive amounts of garbage that jeff resides on a.k.a staten island...melts the snow in jersey as well !! :lol: Link to comment Share on other sites More sharing options...
TR6speed Posted August 6, 2010 Share Posted August 6, 2010 Houses are not important to John at this time but the toys are, besides the house is an easy fix. As he told everyone some time back he has a money tree in his front yard. Link to comment Share on other sites More sharing options...
Memphis Senior Posted August 6, 2010 Share Posted August 6, 2010 I am saving for a house which is why I sold the bike ... I generally spend a check save a check ... plus I am only 23 so I still got time to buy a house and 20% contribution going into my 401k which I can ultimately use for a first time home purchase so lets use round numbers for arguments sake ... 1000 check every 2 weeks after 20% pre tax contribution 300 goes into 401k x 2 so im saving 600 a month in 401k check gets broken up into car payments and spending money... second check comes in a majority of it goes into savings so I am saving almost 50% of my post-tax income which is excellent considering last year the average american savings was - 1.5% of their total earnings meaning most people were in debt fyi this isnt my real salary #s obviously just an example for percantages Sounds like you're doing a great job John. Only statement that has me concerned is "20% contribution going into my 401k which I can ultimately use for a first time home purchase" Is there a program for first time home buyers that somehow lets you use your 401K without penalties? If not and you're planing to remove money from the 401 for the down payment. You do know there is a hefty penalty for withdrawing money before you're 59 1/2, don't you. If you're planing on "borrowing" money from the 401 for the down payment. That has pitfalls also. If you change jobs before the loan is paid, the FULL balance is due within 30 days. (I think that's right. Might be 60 days.) Also as I recall the "interest" you pay yourself is usually small. Like 4.5% or so. When the market comes roaring back, as I'm sure it will, You'll be getting that 4.5% on the "loan" balance instead of the 8-10-15% or more the market will be yielding. Just a few things to consider. Link to comment Share on other sites More sharing options...
6spdg37s Posted August 6, 2010 Author Share Posted August 6, 2010 Sounds like you're doing a great job John. Only statement that has me concerned is "20% contribution going into my 401k which I can ultimately use for a first time home purchase" Is there a program for first time home buyers that somehow lets you use your 401K without penalties? If not and you're planing to remove money from the 401 for the down payment. You do know there is a hefty penalty for withdrawing money before you're 59 1/2, don't you. If you're planing on "borrowing" money from the 401 for the down payment. That has pitfalls also. If you change jobs before the loan is paid, the FULL balance is due within 30 days. (I think that's right. Might be 60 days.) Also as I recall the "interest" you pay yourself is usually small. Like 4.5% or so. When the market comes roaring back, as I'm sure it will, You'll be getting that 4.5% on the "loan" balance instead of the 8-10-15% or more the market will be yielding. Just a few things to consider. yea you can borrow against your 401k as a first time home buyer... my dad is CPA/accountant so he helped me to set everything up Link to comment Share on other sites More sharing options...
Chris@Adams Posted August 6, 2010 Share Posted August 6, 2010 Only 23, I bet your insurance is high on your Z06! Link to comment Share on other sites More sharing options...
6spdg37s Posted August 6, 2010 Author Share Posted August 6, 2010 Only 23, I bet your insurance is high on your Z06! actually alot lower than my G37s go figure... 1400 for the year for the z06 and 2800 a year for the G Link to comment Share on other sites More sharing options...
IMADreamer Posted August 6, 2010 Share Posted August 6, 2010 ok, well how about renting an apartment then? The point is you live at home, that's not cool no matter what toys you have. Link to comment Share on other sites More sharing options...
Z71_Denali Posted August 6, 2010 Share Posted August 6, 2010 i turn 23 in 10 days. my wife and i both work, we live in a 2 bedroom apartment. we are fortunate enough to be able to put all of her income into a savings account and use my income for bills and anything we want to buy throughout the month. we are saving for a down payment on a house for when we move back to Houston next summer. and i contribute 6% to my 401k which is the max for my company to contribute. your still young, if i was single and living in the same town as my parents i would live at home too! my dad would charge me rent, but i would still save enough money for that supercharger i want my dream is to own a ZR-1 but i'll settle for a Z06, your not too much older than me so congrats on that! my goal is to have one by the time i am 25 when my insurance drops! and i'm only paying $120 per month for full coverage & $250 deductible on my camaro right now Link to comment Share on other sites More sharing options...
6spdg37s Posted August 6, 2010 Author Share Posted August 6, 2010 ok, well how about renting an apartment then? The point is you live at home, that's not cool no matter what toys you have. rent is a waste... im perfectly fine living at home to be honest... and my gf is only 20 im not lookin to do anything serious anytime soon... so right now im just enjoying bein home i always have the house to myself parents are always traveling for work and whatnot Link to comment Share on other sites More sharing options...
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