If you aren't happy with your current situation in life, do something to change it.
But there are no guarantees...
But there are no guarantees...
Are there a lot of Rich BITOGers?
- Thread starter ad244
- Start date
I'm not rich but I do spend $10K to $20k per year on gun ammunition. Yeah I like to shoot. The UPS guy and I are on first name basis!
Originally Posted by Cujet
I own (outright) a small airplane (Cessna 177RG) , so I'm in an exclusive club, as only 1 in 17,000 people worldwide own an aircraft. I guess that makes me uber-rich.
I'm surprised the number is that low.
I own (outright) a small airplane (Cessna 177RG) , so I'm in an exclusive club, as only 1 in 17,000 people worldwide own an aircraft. I guess that makes me uber-rich.
I'm surprised the number is that low.
Originally Posted by PandaBear
Keeping up with the Jones is tiring.
Agreed.
My neighborhood is filled with various Porsche Turbos and countless AMG cars. You would think that owning a G-Wagen was a mandatory component of the homeowners association. Just last week someone bought a white Bentley Continental.
I'm perfectly content driving my Toyota ECHO. ðŸ‘ðŸ¼
Keeping up with the Jones is tiring.
Agreed.
My neighborhood is filled with various Porsche Turbos and countless AMG cars. You would think that owning a G-Wagen was a mandatory component of the homeowners association. Just last week someone bought a white Bentley Continental.
I'm perfectly content driving my Toyota ECHO. ðŸ‘ðŸ¼
I'm neither rich or poor but it's not hard to make a decent living in the Midwest. They say if you can't find a job here in Omaha you must not be looking for one. $150k will buy you a modest 3 bedroom house even now with the seller's market being what it is. My current home is 4 beds 3 baths 2,100 square feet and was $165k. A lot of the folks I work with transferred here from San Ramon, CA and were blown away at how much lower the cost of living is. So by California standards I'm probably poor but I'm doing pretty well here in Nebraska.
I just consider myself lucky....... Great women by my side that makes really good money, Decent day job myself that I enjoy. Bought my property before before prices went crazy.
Housing is the biggest hurdle I see for younger folks.....Vehicles don't mean much of anything in the whole scheme of things.
Housing is the biggest hurdle I see for younger folks.....Vehicles don't mean much of anything in the whole scheme of things.
Originally Posted by ad244
Afternoon everybody... The more and more older threads I read through (and new threads) I see some people on here with some impressive rides. Corvettes, Porsches, Buicks etc and I cant help but get the feeling that the BITOG forum has a lot of well to do members. Plus Ill see the stashes of 200+ quarts of oil and all the money it takes to buy that much oil and store it.... you guys must have some big houses.
Maybe its just the members are more frugal or maybe we just have some oil tycoons on here?
...what qualifies as "rich"?
I've owned some fun cars. I have a decent house. I have some neat toys...but am I rich? I don't consider myself to be rich. I think the perception of "rich" is a sliding scale based on how much you make. Then triple it, and that's your perception of "rich", ROFL!
Originally Posted by clinebarger
I just consider myself lucky....... Great women by my side that makes really good money, Decent day job myself that I enjoy. Bought my property before before prices went crazy.
Housing is the biggest hurdle I see for younger folks.....Vehicles don't mean much of anything in the whole scheme of things.
I tend to disagree. Housing ain't nothin' but a peanut.
-Make enough that your house will take up 27% of your gross monthly income, or less, and that your vehicle and house combined, will not take up more than 40%. At today's interest rates on a fixed 30y loan, that means you have $500 per $100K financed. Back when I worked at Chili's waiting tables, that meant I had financial room for a $100K house, easy. A $150K house, if I worked harder. That's a male, waiting tables, in one of the most repressed economies in America (during that time our city was rated 382 out of 382 for GDP, lol! If you want to see what a real [censored] hole looks like, Shreveport, LA)
- With an RD loan, $0 money is required to purchase the house. I bought my current house with an RD loan, and my PMI is roughly $55/mo, and my interest rate is 3.75.
Afternoon everybody... The more and more older threads I read through (and new threads) I see some people on here with some impressive rides. Corvettes, Porsches, Buicks etc and I cant help but get the feeling that the BITOG forum has a lot of well to do members. Plus Ill see the stashes of 200+ quarts of oil and all the money it takes to buy that much oil and store it.... you guys must have some big houses.
Maybe its just the members are more frugal or maybe we just have some oil tycoons on here?
...what qualifies as "rich"?
I've owned some fun cars. I have a decent house. I have some neat toys...but am I rich? I don't consider myself to be rich. I think the perception of "rich" is a sliding scale based on how much you make. Then triple it, and that's your perception of "rich", ROFL!
Originally Posted by clinebarger
I just consider myself lucky....... Great women by my side that makes really good money, Decent day job myself that I enjoy. Bought my property before before prices went crazy.
Housing is the biggest hurdle I see for younger folks.....Vehicles don't mean much of anything in the whole scheme of things.
I tend to disagree. Housing ain't nothin' but a peanut.
-Make enough that your house will take up 27% of your gross monthly income, or less, and that your vehicle and house combined, will not take up more than 40%. At today's interest rates on a fixed 30y loan, that means you have $500 per $100K financed. Back when I worked at Chili's waiting tables, that meant I had financial room for a $100K house, easy. A $150K house, if I worked harder. That's a male, waiting tables, in one of the most repressed economies in America (during that time our city was rated 382 out of 382 for GDP, lol! If you want to see what a real [censored] hole looks like, Shreveport, LA)
- With an RD loan, $0 money is required to purchase the house. I bought my current house with an RD loan, and my PMI is roughly $55/mo, and my interest rate is 3.75.
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Huh. This thread was unlocked after I complained about the mod's "Envy is not for BITOG" comment (and lock). Interesting. See? I guess civilized dicussion CAN accomplish things. Kudos to the moderator for unlocking and undoing the mistake.
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4WD
$50 site donor 2024
Just when I thought we were running out of unique topics … this is one !
Nothing wrong with a rich person driving a fancy vehicle.
There's a member on BITOG with a Lamborghini, Ferrari and Rolls Royce.
200 quarts of oil means the guy bought lots of clearance oil.
There's a member on BITOG with a Lamborghini, Ferrari and Rolls Royce.
200 quarts of oil means the guy bought lots of clearance oil.
A lifetime of living within your means and smart investments will provide a nice retirement.
I've been purchasing real estate since I was 21 years old-most of it is single to 4 family rental units. At 55 we reached what I call critical mass, all of them were paid for, our home was paid for, and we owed nothing. Never made a car payment, never leased a car, always lived within our means. The only debt we had was when we bought a new rental property, and that was always paid off in 4-5 years.
I turned all of the management of the rental units over to a rental management company who takes care of everything from screening new renters, taking care of the occasional deadbeat renter, day to day maintenance, etc. I pay the taxes, insurance and pay the management company $80/month for each of the 38 units. I also pay the cost of maintenance and repairs, but they do the maintenance and repairs.
I average an income stream of almost $7500/year/unit out of which comes taxes, insurance and maintenance/repairs. Our net after those is about $6800/month/unit. Not wealthy, but we're comfortable. And it allows us the ability to enjoy the things in life that we want to enjoy before we're too old to really do them.
I've been purchasing real estate since I was 21 years old-most of it is single to 4 family rental units. At 55 we reached what I call critical mass, all of them were paid for, our home was paid for, and we owed nothing. Never made a car payment, never leased a car, always lived within our means. The only debt we had was when we bought a new rental property, and that was always paid off in 4-5 years.
I turned all of the management of the rental units over to a rental management company who takes care of everything from screening new renters, taking care of the occasional deadbeat renter, day to day maintenance, etc. I pay the taxes, insurance and pay the management company $80/month for each of the 38 units. I also pay the cost of maintenance and repairs, but they do the maintenance and repairs.
I average an income stream of almost $7500/year/unit out of which comes taxes, insurance and maintenance/repairs. Our net after those is about $6800/month/unit. Not wealthy, but we're comfortable. And it allows us the ability to enjoy the things in life that we want to enjoy before we're too old to really do them.
Yeah cause can tell a lot about another person based on the internet...
Originally Posted by Fawteen
A lifetime of living within your means and smart investments will provide a nice retirement.
I've been purchasing real estate since I was 21 years old-most of it is single to 4 family rental units. At 55 we reached what I call critical mass, all of them were paid for, our home was paid for, and we owed nothing. Never made a car payment, never leased a car, always lived within our means. The only debt we had was when we bought a new rental property, and that was always paid off in 4-5 years.
I turned all of the management of the rental units over to a rental management company who takes care of everything from screening new renters, taking care of the occasional deadbeat renter, day to day maintenance, etc. I pay the taxes, insurance and pay the management company $80/month for each of the 38 units. I also pay the cost of maintenance and repairs, but they do the maintenance and repairs.
I average an income stream of almost $7500/year/unit out of which comes taxes, insurance and maintenance/repairs. Our net after those is about $6800/month/unit. Not wealthy, but we're comfortable. And it allows us the ability to enjoy the things in life that we want to enjoy before we're too old to really do them.
I want my last check to bounce
A lifetime of living within your means and smart investments will provide a nice retirement.
I've been purchasing real estate since I was 21 years old-most of it is single to 4 family rental units. At 55 we reached what I call critical mass, all of them were paid for, our home was paid for, and we owed nothing. Never made a car payment, never leased a car, always lived within our means. The only debt we had was when we bought a new rental property, and that was always paid off in 4-5 years.
I turned all of the management of the rental units over to a rental management company who takes care of everything from screening new renters, taking care of the occasional deadbeat renter, day to day maintenance, etc. I pay the taxes, insurance and pay the management company $80/month for each of the 38 units. I also pay the cost of maintenance and repairs, but they do the maintenance and repairs.
I average an income stream of almost $7500/year/unit out of which comes taxes, insurance and maintenance/repairs. Our net after those is about $6800/month/unit. Not wealthy, but we're comfortable. And it allows us the ability to enjoy the things in life that we want to enjoy before we're too old to really do them.
I want my last check to bounce
One doesn't have to be rich, just wise. My 3 vehicles cost less to purchase than most spend on 1 new economy car...all mine were bought and paid for with cash.
I have zero debt for anything including my house. as I realized early in life that debt interest are beasts that never sleep. Life is much simpler and peaceful when those beasts are not at your door.
I only have a 3 OCI supply for each vehicle which is plenty for me.
I have zero debt for anything including my house. as I realized early in life that debt interest are beasts that never sleep. Life is much simpler and peaceful when those beasts are not at your door.
I only have a 3 OCI supply for each vehicle which is plenty for me.
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Originally Posted by fisher83
I'm neither rich or poor but it's not hard to make a decent living in the Midwest. They say if you can't find a job here in Omaha you must not be looking for one. $150k will buy you a modest 3 bedroom house even now with the seller's market being what it is. My current home is 4 beds 3 baths 2,100 square feet and was $165k. A lot of the folks I work with transferred here from San Ramon, CA and were blown away at how much lower the cost of living is. So by California standards I'm probably poor but I'm doing pretty well here in Nebraska.
You are qualified to apply (not accepted) for Palo Alto's affordable housing program if your household income is less than $200k, but yeah, $165k would not even get you a mobile home already in the park.
I'm neither rich or poor but it's not hard to make a decent living in the Midwest. They say if you can't find a job here in Omaha you must not be looking for one. $150k will buy you a modest 3 bedroom house even now with the seller's market being what it is. My current home is 4 beds 3 baths 2,100 square feet and was $165k. A lot of the folks I work with transferred here from San Ramon, CA and were blown away at how much lower the cost of living is. So by California standards I'm probably poor but I'm doing pretty well here in Nebraska.
You are qualified to apply (not accepted) for Palo Alto's affordable housing program if your household income is less than $200k, but yeah, $165k would not even get you a mobile home already in the park.
Case in point not what it appears.
A pizza delivery guy in mid 20's just showed up in a 2015 BMW 3 series.
I ask are you doing this as a side gig and he said no full time.
A pizza delivery guy in mid 20's just showed up in a 2015 BMW 3 series.
Originally Posted by Fawteen
A lifetime of living within your means and smart investments will provide a nice retirement.
I've been purchasing real estate since I was 21 years old-most of it is single to 4 family rental units. At 55 we reached what I call critical mass, all of them were paid for, our home was paid for, and we owed nothing. Never made a car payment, never leased a car, always lived within our means. The only debt we had was when we bought a new rental property, and that was always paid off in 4-5 years.
I turned all of the management of the rental units over to a rental management company who takes care of everything from screening new renters, taking care of the occasional deadbeat renter, day to day maintenance, etc. I pay the taxes, insurance and pay the management company $80/month for each of the 38 units. I also pay the cost of maintenance and repairs, but they do the maintenance and repairs.
I average an income stream of almost $7500/year/unit out of which comes taxes, insurance and maintenance/repairs. Our net after those is about $6800/month/unit. Not wealthy, but we're comfortable. And it allows us the ability to enjoy the things in life that we want to enjoy before we're too old to really do them.
I really enjoyed reading this thanks for sharing. Its nice hearing about the good ol days when you could reasonably purchase something at such a young age.
A lifetime of living within your means and smart investments will provide a nice retirement.
I've been purchasing real estate since I was 21 years old-most of it is single to 4 family rental units. At 55 we reached what I call critical mass, all of them were paid for, our home was paid for, and we owed nothing. Never made a car payment, never leased a car, always lived within our means. The only debt we had was when we bought a new rental property, and that was always paid off in 4-5 years.
I turned all of the management of the rental units over to a rental management company who takes care of everything from screening new renters, taking care of the occasional deadbeat renter, day to day maintenance, etc. I pay the taxes, insurance and pay the management company $80/month for each of the 38 units. I also pay the cost of maintenance and repairs, but they do the maintenance and repairs.
I average an income stream of almost $7500/year/unit out of which comes taxes, insurance and maintenance/repairs. Our net after those is about $6800/month/unit. Not wealthy, but we're comfortable. And it allows us the ability to enjoy the things in life that we want to enjoy before we're too old to really do them.
I really enjoyed reading this thanks for sharing. Its nice hearing about the good ol days when you could reasonably purchase something at such a young age.
Originally Posted by Mr Nice
Nothing wrong with a rich person driving a fancy vehicle.
There's a member on BITOG with a Lamborghini, Ferrari and Rolls Royce.
200 quarts of oil means the guy bought lots of clearance oil.
There's nothing wrong with anyone driving a fancy vehicle.
They have to pay for it, feed it and get it serviced.
Everyone has their own priorities.
While I may think that a reasonably priced low-cal vehicle is exactly right, and I think the vehicles in my sig qualify, others would prefer to allocate their resources in other ways.
Economic theory suggests that we're all utility maximizers, and my idea of that may not be the next man's.
Now, on the stash bit, you're right. I bought it cheap on clearance or by combining store deals and MIRs.
I'll add that I've decided I have more than enough and haven't bought any oil in over a year regardless of how cheap it would have been.
Nothing wrong with a rich person driving a fancy vehicle.
There's a member on BITOG with a Lamborghini, Ferrari and Rolls Royce.
200 quarts of oil means the guy bought lots of clearance oil.
There's nothing wrong with anyone driving a fancy vehicle.
They have to pay for it, feed it and get it serviced.
Everyone has their own priorities.
While I may think that a reasonably priced low-cal vehicle is exactly right, and I think the vehicles in my sig qualify, others would prefer to allocate their resources in other ways.
Economic theory suggests that we're all utility maximizers, and my idea of that may not be the next man's.
Now, on the stash bit, you're right. I bought it cheap on clearance or by combining store deals and MIRs.
I'll add that I've decided I have more than enough and haven't bought any oil in over a year regardless of how cheap it would have been.
Originally Posted by madRiver
Case in point not what it appears.
A pizza delivery guy in mid 20's just showed up in a 2015 BMW 3 series.
I ask are you doing this as a side gig and he said no full time.
Money is cheap these days. You can easily get a 3 series in the 15-18k range these days. Someone living at home can easily pay $300 a month for 5 years on a car like that even on a pizza delivery salary.
Case in point not what it appears.
A pizza delivery guy in mid 20's just showed up in a 2015 BMW 3 series.
Money is cheap these days. You can easily get a 3 series in the 15-18k range these days. Someone living at home can easily pay $300 a month for 5 years on a car like that even on a pizza delivery salary.
Originally Posted by Wolf359
Originally Posted by madRiver
Case in point not what it appears.
A pizza delivery guy in mid 20's just showed up in a 2015 BMW 3 series.
I ask are you doing this as a side gig and he said no full time.
Money is cheap these days. You can easily get a 3 series in the 15-18k range these days. Someone living at home can easily pay $300 a month for 5 years on a car like that even on a pizza delivery salary.
5 series is in his reach if he also drives for Uber.
Originally Posted by madRiver
Case in point not what it appears.
A pizza delivery guy in mid 20's just showed up in a 2015 BMW 3 series.
Money is cheap these days. You can easily get a 3 series in the 15-18k range these days. Someone living at home can easily pay $300 a month for 5 years on a car like that even on a pizza delivery salary.
5 series is in his reach if he also drives for Uber.
