Close

Page 2 of 3 FirstFirst 123 LastLast
Results 26 to 50 of 72
  1. #26
    Join Date
    Jan 2010
    Location
    SoCal
    Posts
    120,377
    Rep Points
    32,769.4
    Mentioned
    2133 Post(s)
    Rep Power
    328


    Yes Reputation No
    Click here to enlarge Originally Posted by richpike Click here to enlarge
    Seriously though - Find a good girl. You can add boobs (that won't turn saggy after kids) later.
    No doubt and that is exactly my thought. I plan on changing their size with my mood.
    Chrome Space Bar Issue: http://www.boostaddict.com/showthrea...338#post738338


    Stage 2 or 2.5 E9X M3 S65 V8 supercharger kit for sale
    : http://www.boostaddict.com/showthrea...r-kit-for-sale

  2. #27
    Join Date
    Sep 2011
    Posts
    1,228
    Rep Points
    2,205.8
    Mentioned
    25 Post(s)
    Rep Power
    23


    2 out of 2 members liked this post. Yes Reputation No
    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    No doubt and that is exactly my thought. I plan on changing their size with my mood.
    Click here to enlargeClick here to enlargeClick here to enlarge
    Change is constant

  3. #28
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    Yes Reputation No
    Click here to enlarge Originally Posted by The Ghost Click here to enlarge
    It feels great to always be 100% debt free. Paying cash for things (including cars) is a great reality check on how much one can afford.
    Same here, have been for a long time. House, cars, everything. Zero debt. Amazing how much of life prior to doing this was spent slaving away on the debt treadmill. Just to pay interest to bankers so I could "own" stuff I thought I needed. Had to have the big "job" to make the monthly nut. Never going back to that life if I can help it.

  4. #29
    Join Date
    Dec 2009
    Posts
    313
    Rep Points
    376.9
    Mentioned
    11 Post(s)
    Rep Power
    4


    Yes Reputation No
    Why even bother with the bankers when free money exists? I have 0% on everything and I'm sure many of you do too. You only give the bankers a cut if you overextend. That comes down to personal responsibility.

  5. #30
    Join Date
    Feb 2012
    Location
    6500ft ASL
    Posts
    1,124
    Rep Points
    2,245.0
    Mentioned
    18 Post(s)
    Rep Power
    23


    Yes Reputation No
    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    Why even bother with the bankers when free money exists? I have 0% on everything and I'm sure many of you do too. You only give the bankers a cut if you overextend. That comes down to personal responsibility.
    Bingo. And take that extra money and invest it.

    -Rich

  6. #31
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    Yes Reputation No
    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    Why even bother with the bankers when free money exists? I have 0% on everything and I'm sure many of you do too. You only give the bankers a cut if you overextend. That comes down to personal responsibility.
    If it is not a depreciating asset fine with me. My life for where I am, debt free is the way to go. No worries, at least about debt or money. I doubt you can buy a house for 0% interest, or buy a car that will not likely depreciate (like a collector car) for 0%.

    And borrowing money against other imaginary assets (eg, house) to play the market or "invest", @ 0% or not, lot of people blew themselves up that way recently. And will again. I do not use margin in my investment accounts either.

  7. #32
    Join Date
    Dec 2009
    Posts
    313
    Rep Points
    376.9
    Mentioned
    11 Post(s)
    Rep Power
    4


    Yes Reputation No
    You can't buy a house for 0% but why pay 12% for a margarita? Money saved, money earned, etc.

  8. #33
    Join Date
    Feb 2012
    Location
    6500ft ASL
    Posts
    1,124
    Rep Points
    2,245.0
    Mentioned
    18 Post(s)
    Rep Power
    23


    Yes Reputation No
    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    You can't buy a house for 0% but why pay 12% for a margarita? Money saved, money earned, etc.
    You can almost buy a house for 0% interest. 15yr fixed rate mortgages have been in the 3.5% to 4% range over the last four years. After tax savings, that equates to roughly 2.5% to 2.8%. Inflation is running around 2% over the last four years. That's almost 0%.

    Let's take it one step further - invest that money you would have invested in the house to maintain zero debt and instead invest it in an S&P index fund and you would have returned almost 15-20% more on those same dollars during that time.

    I know where I would (and did) invest my money (while still *owning* a house).

    -Rich

  9. #34
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    Yes Reputation No
    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    You can't buy a house for 0% but why pay 12% for a margarita? Money saved, money earned, etc.
    Huh? Not getting your point. If you mean pay off your credit cards each month and don't carry a balance, sure that's a given. Like step one.

  10. #35
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    Yes Reputation No
    Click here to enlarge Originally Posted by richpike Click here to enlarge
    You can almost buy a house for 0% interest. 15yr fixed rate mortgages have been in the 3.5% to 4% range over the last four years. After tax savings, that equates to roughly 2.5% to 2.8%. Inflation is running around 2% over the last four years. That's almost 0%.

    Let's take it one step further - invest that money you would have invested in the house to maintain zero debt and instead invest it in an S&P index fund and you would have returned almost 15-20% more on those same dollars during that time.

    I know where I would (and did) invest my money (while still *owning* a house).

    -Rich
    Hindsight is always 20/20. Talk to some folks who bought houses at the peak for 0% down, and tried to play the equity markets with their life savings. Also talk to some folks who bought into the NASDAQ peak in 00. Markets may be dodgy here on out, anyone says they know what will happen is delusional. That does not mean you stay out but it means you hedge and stay nimble. One hedge is buying something like real estate when fairly valued for cash. The present value of not having to pay rent or mortgage for the rest of your life is huge.

    But houses right now unless you bought a foreclosure at the bottom are maybe not going to be such great investments going forward. Maybe inflation or a little more.

    Me, I bought a foreclosed house at the bottom for cash, to live in, rest of my money is in and out of equities and options for lunch money.

  11. #36
    Join Date
    Feb 2012
    Location
    6500ft ASL
    Posts
    1,124
    Rep Points
    2,245.0
    Mentioned
    18 Post(s)
    Rep Power
    23


    Yes Reputation No
    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    Hindsight is always 20/20. Talk to some folks who bought houses at the peak for 0% down, and tried to play the equity markets with their life savings. Also talk to some folks who bought into the NASDAQ peak in 00. Markets may be dodgy here on out, anyone says they know what will happen is delusional. That does not mean you stay out but it means you hedge and stay nimble. One hedge is buying something like real estate when fairly valued for cash. The present value of not having to pay rent or mortgage for the rest of your life is huge.

    But houses right now unless you bought a foreclosure at the bottom are maybe not going to be such great investments going forward. Maybe inflation or a little more.

    Me, I bought a foreclosed house at the bottom for cash, to live in, rest of my money is in and out of equities and options for lunch money.
    Fair enough. And while I agree on the fact that you can't game the market, you can certainly hedge against it. Even something as simple as dollar cost averaging makes a huge difference.

    BTW - I'm not saying debt free is bad. It's just very conservative and in my opinion is leaving money on the table.

    -Rich

  12. #37
    Join Date
    Dec 2009
    Posts
    313
    Rep Points
    376.9
    Mentioned
    11 Post(s)
    Rep Power
    4


    Yes Reputation No
    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    Huh? Not getting your point. If you mean pay off your credit cards each month and don't carry a balance, sure that's a given. Like step one.
    My point is reduce expenses starting with the easiest places to do so. Even if you do carry a balance it doesn't have to work against you and can can even help your score which in turn helps your mortgage rate.

  13. #38
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    Yes Reputation No
    Click here to enlarge Originally Posted by richpike Click here to enlarge
    Fair enough. And while I agree on the fact that you can't game the market, you can certainly hedge against it. Even something as simple as dollar cost averaging makes a huge difference.

    BTW - I'm not saying debt free is bad. It's just very conservative and in my opinion is leaving money on the table.

    -Rich
    That's fair. It is a lifestyle choice and for me and it works. Also I am a bit older so that is part of it. And have seen many friends and family ruined or close to it with debt slavery issues. Our culture and economy kind of pushes it and it is easy to get over your head and not even realize it. Then something happens and you are stuck. Witness the housing collapse and what giving leverage to retards ended up doing. Anyway I am very fortunate to be in the position I'm in now and looking back it is amazing how much time and money and life I pissed away borrowing money and buying stuff I never really needed, and working my ass off to pay to all back.

  14. #39
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    Yes Reputation No
    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    My point is reduce expenses starting with the easiest places to do so. Even if you do carry a balance it doesn't have to work against you and can can even help your score which in turn helps your mortgage rate.
    I agree with reduced expenses where you can. But when you are debt free who cares what your credit score is? F*ck them all and their credit scores. You're opting out of the whole debt slavery machine. Forever hopefully. There is a whole gigantic industry of parasites and leeches whose sole purpose in life is to get you deeply into debt and keep you there. And they make a fortune doing it.

  15. #40
    Join Date
    Feb 2012
    Location
    6500ft ASL
    Posts
    1,124
    Rep Points
    2,245.0
    Mentioned
    18 Post(s)
    Rep Power
    23


    Yes Reputation No
    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    That's fair. It is a lifestyle choice and for me and it works. Also I am a bit older so that is part of it. And have seen many friends and family ruined or close to it with debt slavery issues. Our culture and economy kind of pushes it and it is easy to get over your head and not even realize it. Then something happens and you are stuck. Witness the housing collapse and what giving leverage to retards ended up doing. Anyway I am very fortunate to be in the position I'm in now and looking back it is amazing how much time and money and life I pissed away borrowing money and buying stuff I never really needed, and working my ass off to pay to all back.
    Yep - I hear ya. And just like everything in life, moderation is important and it is certainly easy to get in over your head if you don't understand what you are doing.

    -Rich

  16. #41
    Join Date
    Dec 2009
    Posts
    313
    Rep Points
    376.9
    Mentioned
    11 Post(s)
    Rep Power
    4


    Yes Reputation No
    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    I agree with reduced expenses where you can. But when you are debt free who cares what your credit score is? F*ck them all and their credit scores. You're opting out of the whole debt slavery machine. Forever hopefully. There is a whole gigantic industry of parasites and leeches whose sole purpose in life is to get you deeply into debt and keep you there. And they make a fortune doing it.
    I'll explain why it matters as you hit on it with 0% mortgage. If you are debt free but do not ever use or build your credit history what does being debt free matter? If you show lenders you can manage a good amount of credit you are more favorable to said lenders and improve your score for a better mortgage rate or commercial rate or whatever.

    Your 'debt' doesn't have to hurt you, it can help you.

  17. #42
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    Yes Reputation No
    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    Your 'debt' doesn't have to hurt you, it can help you.
    I see, you must have chosen the blue pill. Carry on.

  18. #43
    Join Date
    Oct 2013
    Location
    michigan
    Posts
    1,089
    Rep Points
    918.5
    Mentioned
    18 Post(s)
    Rep Power
    10


    2 out of 2 members liked this post. Yes Reputation No
    solution: become a drug dealer, save as much money as possible and open up a $#@! load of credit cards. keep maxing them out pay them off right away.

    Click here to enlarge
    '08 535xi - fbo

  19. #44
    Join Date
    Dec 2009
    Posts
    313
    Rep Points
    376.9
    Mentioned
    11 Post(s)
    Rep Power
    4


    2 out of 2 members liked this post. Yes Reputation No
    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    I see, you must have chosen the blue pill. Carry on.
    Look just because they made the game doesn't mean you have to play it completely their way. Balance the aspects. Advocating 'no debt' is not leveraging an asset and by your own admission you admit a mortgage is basically inescapable. I don't care how debt free you live you are not buying a 700k+ home straight cash, you will get a loan which is debt.

    You might as well pay the lowest % possible and I believe bolstering your score without paying a toll for it makes all the sense in the world if it means lower payments on what really matters.

    I'm just stating use and build your resources without paying a price. I raised my score in the past year over 100 points and it wasn't by maxing out my cards. It was by using them though. Now lenders contact me...

  20. #45
    Join Date
    Nov 2012
    Posts
    412
    Rep Points
    518.6
    Mentioned
    1 Post(s)
    Rep Power
    6


    3 out of 3 members liked this post. Yes Reputation No
    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    Look just because they made the game doesn't mean you have to play it completely their way. Balance the aspects. Advocating 'no debt' is not leveraging an asset and by your own admission you admit a mortgage is basically inescapable. I don't care how debt free you live you are not buying a 700k+ home straight cash, you will get a loan which is debt.

    You might as well pay the lowest % possible and I believe bolstering your score without paying toll for it makes all the sense in the world if it means lower payments on what really matters.

    I'm just stating use and build your resources without paying a price. I raised my score in the past year over 100 points and it wasn't by maxing out my cards. It was by using them though. Now lenders contact me...
    Debt is not evil by any means, but you have to use it with your eyes open. Debt is not prosperity. If you buy a 700k house with 5% down (19 to 1 leverage), or worse nothing down (infinite leverage!), you don't own the house the house (and bank) owns you. Mostly WRT real estate now it depends on where you live and then what deal you got, extremely local as to whether it is sensible from an investment standpoint. On average going forward housing will be lucky to pace inflation. If you think you need a 700k house and need to borrow most of it, maybe you do but odds are you don't. I cleared well over 700k cash on the last house I sold, but the days of quadrupling your purchase price in real estate are over for generations IMHO. Nationally/globally people still have not come to terms with this. Most of the seriously good foreclosure deals are gone, hedge funds scooped them up by the 1000's 2009-12, and are now getting out or have converted them to rentals.

    I can count on one hand the people I've met over the last decade who had a good grasp of what debt was and how dangerous it could be. The moment most folks get any kind of equity in a house they are off borrowing against it to buy toys. "It's good for my credit score" they say. Again, right after the recession wiped nearly all people who did that out.

    Let me give you an example of how screwed up things were. I moved to Boulder CO in 2005. Was trying to buy a house. I must have wrote 15 contracts and kept getting outbid. I went to my mortgage guy and asked him what I was doing wrong. He said, dude, you are thinking about this all wrong. Nobody takes out conventional mortgages anymore (like I was trying to do, and based all my bids on), they are all doing neg-ams (negative amortization, where the loan balance never goes down, it goes up because the property will "always appreciate"). So the whole town and as I found out soon, the whole country, was being run up by buyers and brokers on crack. At that point I knew there would be a national housing collapse and got out, hunkered down, waited. Cut expenses to the bone and rented cheap. Told everyone I knew get out of RE. Nobody listened.

    Sure, manage your credit score well if you need to use credit for true necessities, but a goal could be to live a more frugal life well within your means, and save/invest spare cash instead of spending your life paying down debt for shiny trinkets the TV and the internet and your cell phone are screaming at you to buy to be "happy". All the vast advertising/banking machinery is geared to making you want to buy more stuff on "painless" credit terms, so this is not a perspective that is easy to hear through all the noise and social programming and peer pressure. Which is why I am going on at length about it, just to get it out there.
    Last edited by ajsalida; 06-09-2014 at 07:07 AM.

  21. #46
    Join Date
    Feb 2011
    Posts
    1,590
    Rep Points
    2,018.0
    Mentioned
    10 Post(s)
    Rep Power
    21


    1 out of 1 members liked this post. Yes Reputation No
    Click here to enlarge Originally Posted by richpike Click here to enlarge
    Interesting thoughts with one flaw IMHO - you get zero tax benefits with your method. With a 401K you put in pretax and get the benefit then (although the chances of taxes going down are about zero given our governments mentality over the last few decades), which is why I'm moving more and more of my retirement investments to tax free withdraw plans like Roths (where I put in post tax money now with the ability to withdrawal tax free in the future). Don't underestimate the immediate "return" you get of tax free benefits.

    One other comment - by no means am I saying to live beyond your means, but leverage (debt) is not a bad thing. Borrowing money at a rate lower than you can get investing that money is smart. In addition, inflation is pretty minor right now, but you should always take in to account the cost of money and tax benefits of interest.

    And one one final comment - I agree with Sticky on the wife part. Marry for love, not money. Yes, money is probably the one most common thing to argue about, but everything can be worked through if you are on the same page and truly love each other.

    My $0.02.

    -Rich
    Yeah, tax shelters are a good thing to think about - but you might want to weigh options even then... Again, if you are guaranteeing me that I am going to be in good health, and not be dead before 60 - it's great. Depending on the risks you take, your family genetics, etc... It all depends.

  22. #47
    Join Date
    Oct 2011
    Location
    NY
    Posts
    1,962
    Rep Points
    2,657.4
    Mentioned
    49 Post(s)
    Rep Power
    27


    2 out of 2 members liked this post. Yes Reputation No
    Poor OP.... Click here to enlarge
    09 6AT 335i Coupe M-Sport - SOLD
    Current - 16 Jeep Wrangler - Few Mods
    Looking for a n54 project e90/e82

  23. #48
    Join Date
    Feb 2010
    Location
    Miami Beach
    Posts
    1,087
    Rep Points
    513.4
    Mentioned
    10 Post(s)
    Rep Power
    6


    Yes Reputation No
    i didn't like the lightning, so i bought a tacoma xrunner as a daily. neither are meant for hauling

    subis are great cars! i'll love to buy a first gen rs and swap the motor with a newer turbo model. why not just buy a subi and mod it some? AWD, turbo, light weight what else do you want? get a sit wagon so you put all your junk in the back and if you need it for hauling just add a hitch to it.
    Last edited by lamia2super; 06-09-2014 at 10:40 AM.
    Click here to enlarge

  24. #49
    Join Date
    Jun 2013
    Location
    North Houston
    Posts
    1,312
    Rep Points
    1,722.8
    Mentioned
    111 Post(s)
    Rep Power
    18


    1 out of 1 members liked this post. Yes Reputation No



    my old truck Click here to enlarge


    1.6 60' and mid 12's Click here to enlarge
    Click here to enlarge
    Burger Motorsports dealer
    Turner Motorsports dealer
    Bimmerworld dealer
    Active Autowerks Dealer
    Shipping built/stroked/CNC ported N54's Internationally!
    Follow us!
    http://www.facebook.com/BMWdoctor
    http://twitter.com/abrhouston
    http://instagram.com/abrhouston/
    http://abrhouston.com
    http://abr.genbook.com Book online appointments!

  25. #50
    Join Date
    Apr 2014
    Posts
    1
    Rep Points
    2.1
    Mentioned
    0 Post(s)
    Rep Power
    0


    1 out of 1 members liked this post. Yes Reputation No
    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    Screw the Lightning, if you want turbos, ridiculous towing capacity, 4WD, snow/mountain & mod-capable get a truck with a Duramax, Cummins, or Powerstroke turbodiesel engine. You would not believe what you can do to them nowadays. Hold their value well too.
    Or find a used 2008+ Tundra and slap a SC on it for $3k and you'll have low 13's truck that can tow as much as these domestic trucks and not breakdown or fall apart after 70k miles.

Page 2 of 3 FirstFirst 123 LastLast

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts
  •