Quote:
Originally Posted by The Yen Man
Meanwhile, some of those kids have given up ever owning a home and are the ones buying expensive cars, iphones and ipads, and go on backpacking trips to Europe and Asia.
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Lets back that truck up. Whats the difference between a 45 year old (working for 20 years) buying those vs a 25 year old (working for 3 years) buying this? (I assume you are talking about graduates here). A 45 year old, with a wife and 2.5 kids probably has probably 2x's the expenses to go along with 2x's the salary. In the end, the net result is the same for both, isn't it? So why is it suddenly a-ok for older people to do this, but not for younger people?
Also, if you do the math on it, a expensive car will kill you, but the rest won't. Own an iPad for 2 years, that $250 per year. For an average salary, thats nothing. Own a iPHone for 2 years, same thing - its really inconsequential. I have a motorcycle, insurance is $25 a year and I paid $3700 for it. Again, compared to a car, its nothing. Now for those that own $40k cars like a SUV or a BMW or Mercedes, you could tally up my motorcycle, my Honda car, a smart phone and it still probably wouldn't match what you pay for your car. So, don't start critisizing how others spend nickles and dimes when you are sinking bills into a new car.
(note: by you, I'm not saying you Yen Men, I don't know your situation. I'm targetting to people who drive expensive cars and probably struggle on their own, yet point fingers at someone else and say they are doing it wrong)