If you had to pick just 1 car to keep, which one would you keep? (993 vs 740i)
03-09-2010, 05:04 PM
#166
Steve, you're to be commended for your candor and honesty.
You have all the tools, insight and wisdom to solve all your problems. Whether you have the strength do so, is up to you.
Good luck, brother.
You have all the tools, insight and wisdom to solve all your problems. Whether you have the strength do so, is up to you.
Good luck, brother.
03-09-2010, 05:09 PM
#168
Race Director
Sigh... I'm still here. I'm just listening at this point. It's too depressing for me to do more. They're some really good ideas in theory. The thing is, none of you really know us. You don't know our exact situation. Exact situation. There's more here going on than I've said for privacy sake, even though I probably shared too much already and and have obviously bored many of you. I know I've angered or disappointed some of you with my decisions or lack of decision (from the tone of your responses). I'll deal with that.
I don't feel comfortable telling you the complete response and discussion I had with my smart wife this morning. I printed out a ton of responses from here, edited some of them a bit (the ones that were really biting and felt cruel to me), and we talked about them as she read them.
In the end, she thought it was ridiculous for me to sell my 2 watches. One was a 5 year anniversary gift from her and the other I saved up years to get. They're off the table, for now. It's not like I'm sitting on $20k worth of watches here...
We're not selling our home. We at least will stay here for 2 more years till her daughter goes to school. She lives walking distance away with her daddy during the week. Jeez, it's $1333 a month plus utilities of $391 mo. That doesn't necessitate changing anything for. A 2 BR apt is over $1500 in this area. Do you know how much it costs to live around DC? We could refi, as well. I doubt we will but we could. That would bring it down even more. Waiting to hear back from our mortgage guy. I'm open to it but not thrilled about rolling more money into this small mortage that's left and lengthening the term an extra 19 years. I know we could try to pay it off earlier if times get better but that may drag on. Sounds ludicrous to me and some of my friends agree. Just because you think it's best for us - you don't really know us or our total situation. Not trying to sound like an ***, it is what it is.
Told her what I could get for my 2 cars (her's is fine, reliable, paid off, has an 8 yr warranty bumper to bumper on it). Probably about $37k for both of mine on the low end.
She made a deal with me this morning - Take and pass the real estate class I was thinking of doing, get my license, work it part time with my barely full time job - weekends and evenings, and I can keep the cars, for now, for a while at least, until one of them needs a MAJOR repair - ie: trans, engine, $5k problem, etc.
So, throw eggs on our situation if you must. Laugh at us. Make fun. We may change our mind next month and do what you all said, but for now we're sitting tight and waiting this out a bit. If we can change our expenses by really pouring over our budget, cutting the fat wherever we can, then we'll be OK for a while. If we go through the $37k that's left in our checking account in the next 6 months or year, THEN I've agreed to sell the 993, a watch if I have to, etc. Maybe even the BMW.
Buying a 2 year old Honda Accord for $17k or so is about the same as keeping my $8-$9k BMW. The BMW will need about $2k-$3k or maybe a lot less in repair each year. That's the difference in price between selling the BMW and getting the newer Honda. No, I'm not driving a 5 year old Honda Accord with the older body style, because... I don't have to. Yet.
That's it! Call us stupid, but in the end, if you met us, saw our neighborhood, knew how hard we worked to get here, and met our friends we've made here, you might think differently. You don't walk in our shoes.
I don't plan on driving the 993 much. Just enough to enjoy it on the weekends and during the week now and then. When things pick up for us (workwise), THEN I'll drive it more, and I might even still have it.
As to why she can't be a dental hygienist after doing it for 22 years anymore, that's personal. She does plenty well working for her parents and they really need her.
Peace out...
I don't feel comfortable telling you the complete response and discussion I had with my smart wife this morning. I printed out a ton of responses from here, edited some of them a bit (the ones that were really biting and felt cruel to me), and we talked about them as she read them.
In the end, she thought it was ridiculous for me to sell my 2 watches. One was a 5 year anniversary gift from her and the other I saved up years to get. They're off the table, for now. It's not like I'm sitting on $20k worth of watches here...
We're not selling our home. We at least will stay here for 2 more years till her daughter goes to school. She lives walking distance away with her daddy during the week. Jeez, it's $1333 a month plus utilities of $391 mo. That doesn't necessitate changing anything for. A 2 BR apt is over $1500 in this area. Do you know how much it costs to live around DC? We could refi, as well. I doubt we will but we could. That would bring it down even more. Waiting to hear back from our mortgage guy. I'm open to it but not thrilled about rolling more money into this small mortage that's left and lengthening the term an extra 19 years. I know we could try to pay it off earlier if times get better but that may drag on. Sounds ludicrous to me and some of my friends agree. Just because you think it's best for us - you don't really know us or our total situation. Not trying to sound like an ***, it is what it is.
Told her what I could get for my 2 cars (her's is fine, reliable, paid off, has an 8 yr warranty bumper to bumper on it). Probably about $37k for both of mine on the low end.
She made a deal with me this morning - Take and pass the real estate class I was thinking of doing, get my license, work it part time with my barely full time job - weekends and evenings, and I can keep the cars, for now, for a while at least, until one of them needs a MAJOR repair - ie: trans, engine, $5k problem, etc.
So, throw eggs on our situation if you must. Laugh at us. Make fun. We may change our mind next month and do what you all said, but for now we're sitting tight and waiting this out a bit. If we can change our expenses by really pouring over our budget, cutting the fat wherever we can, then we'll be OK for a while. If we go through the $37k that's left in our checking account in the next 6 months or year, THEN I've agreed to sell the 993, a watch if I have to, etc. Maybe even the BMW.
Buying a 2 year old Honda Accord for $17k or so is about the same as keeping my $8-$9k BMW. The BMW will need about $2k-$3k or maybe a lot less in repair each year. That's the difference in price between selling the BMW and getting the newer Honda. No, I'm not driving a 5 year old Honda Accord with the older body style, because... I don't have to. Yet.
That's it! Call us stupid, but in the end, if you met us, saw our neighborhood, knew how hard we worked to get here, and met our friends we've made here, you might think differently. You don't walk in our shoes.
I don't plan on driving the 993 much. Just enough to enjoy it on the weekends and during the week now and then. When things pick up for us (workwise), THEN I'll drive it more, and I might even still have it.
As to why she can't be a dental hygienist after doing it for 22 years anymore, that's personal. She does plenty well working for her parents and they really need her.
Peace out...
You've been given very sensible advice here. You refuse to listen. Why did you even ask the question? You knew from the very beginning that you were not gonna take any of our advice and continue to do exactly what you're doing and simply down play how bad it actually is. You do it every single time.
You don't want to lower your standard of living and you'll be in for an awfully big shock in a couple of years.
All of these people took the time to offer well thought out and heartfelt responses, and it goes in one ear and out the other. Perhaps its better that you just keep these thoughts to yourself.
Consider it harsh, but this is bloody ridiculous.
03-09-2010, 05:21 PM
#169
qUOTE:
That's it! Call us stupid, but in the end, if you met us, saw our neighborhood, knew how hard we worked to get here, and met our friends we've made here, you might think differently
No offense, but it sounds by that quote you wrote....you care more about what people think of you financially and all the materialistic crap you have.
"Oh you dont understand...my "friends", my big home etc....it sounds like pure hell to live an existance like that. Honestly I would tell you to get off your high horse...since you truly cant afford to have what you have and downsize....and learn to live within your means...no wonder this country is in the mess we are in.
Just think of the above speech as "tough love"
That's it! Call us stupid, but in the end, if you met us, saw our neighborhood, knew how hard we worked to get here, and met our friends we've made here, you might think differently
No offense, but it sounds by that quote you wrote....you care more about what people think of you financially and all the materialistic crap you have.
"Oh you dont understand...my "friends", my big home etc....it sounds like pure hell to live an existance like that. Honestly I would tell you to get off your high horse...since you truly cant afford to have what you have and downsize....and learn to live within your means...no wonder this country is in the mess we are in.
Just think of the above speech as "tough love"
03-09-2010, 05:30 PM
#171
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The OP asked for opinions and he got them -- IMO there's no justification to castigate him for not heeding advice. He never promised to take any advice.
If nothing else, this thread has been a good means of looking philosophically at how people live and how much our possessions own us, rather than the other way around. In a sense, for many people money and possessions are like booze to an alcoholic -- the strength to quit that lifestyle usually only comes when one's back is up against a wall. Unfortunately, that's well after there has been horrendous losses involved and life afterward is very difficult at best.
If nothing else, this thread has been a good means of looking philosophically at how people live and how much our possessions own us, rather than the other way around. In a sense, for many people money and possessions are like booze to an alcoholic -- the strength to quit that lifestyle usually only comes when one's back is up against a wall. Unfortunately, that's well after there has been horrendous losses involved and life afterward is very difficult at best.
03-09-2010, 05:38 PM
#172
Race Car
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I am not really sure of the true specifics here, but I have seen many similar outcomes. My sisters boyfriend used to make $10-15K a month in "the good old days" of real estate (2003-2007). Now he can't give up anything that will eventually save him from bankruptcy. He always says that he worked "so hard to get there" or he "deserves" this or that. I am somewhat surprised that anyone in this day and age thinks that they deserve anything or are owed anything. I can wake up tomorrow and it can all be gone for me too. I am a self made man that truly broke my *** to get to where I am and you know what? It can be gone in the blink of an eye. I am grateful everyday that I wake up and I'm alive and that I am fortunate enough to have what I do. That said... If I have to sell every car, house, property, watch and gun that I own right now to save myself, I would. $hit I'd go sell hot dogs if I had to. Make the changes that will save you and your family. They're only material items. Remember, none of us "deserve" anything in life...
03-09-2010, 05:42 PM
#173
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The OP asked for opinions and he got them -- IMO there's no justification to castigate him for not heeding advice. He never promised to take any advice.
If nothing else, this thread has been a good means of looking philosophically at how people live and how much our possessions own us, rather than the other way around. In a sense, for many people money and possessions are like booze to an alcoholic -- the strength to quit that lifestyle usually only comes when one's back is up against a wall. Unfortunately, that's well after there has been horrendous losses involved and life afterward is very difficult at best.
If nothing else, this thread has been a good means of looking philosophically at how people live and how much our possessions own us, rather than the other way around. In a sense, for many people money and possessions are like booze to an alcoholic -- the strength to quit that lifestyle usually only comes when one's back is up against a wall. Unfortunately, that's well after there has been horrendous losses involved and life afterward is very difficult at best.
You in the Rolex, put down the Caviar and step away from the Porsche!
03-09-2010, 05:51 PM
#175
Nordschleife Master
Steve, what about the refinance ... seems like a no brainer to me > ?
03-09-2010, 05:51 PM
#176
Rennlist Member
I am a self made man that truly broke my *** to get to where I am and you know what? It can be gone in the blink of an eye. I am grateful everyday that I wake up and I'm alive and that I am fortunate enough to have what I do. That said... If I have to sell every car, house, property, watch and gun that I own right now to save myself, I would. $hit I'd go sell hot dogs if I had to. Make the changes that will save you and your family. They're only material items. Remember, none of us "deserve" anything in life...
03-09-2010, 05:53 PM
#177
Seared
Rennlist Member
Rennlist Member
She made a deal with me this morning - Take and pass the real estate class I was thinking of doing, get my license, work it part time with my barely full time job - weekends and evenings, and I can keep the cars, for now, for a while at least, until one of them needs a MAJOR repair - ie: trans, engine, $5k problem.
We've spoken many times in person, so you know I've been in Real Estate since 2004.
Please realize that taking and passing a RE exam is the bare minimum to enter the profession. You'll soon find expenses chasing you from every angle: office fees, continuing education fees, broker fees, RE commission fees, errors & omissions insurance, not too mention the time spent trying to build a client base.
This, in my humble opinion, is one of the worst times to jump into Real Estate (as a new agent) since the dawn of time. Think it through before making the plunge. It's not cheap.
Andreas
03-09-2010, 05:58 PM
#179
Just wanted to summarize things here;
-Your total gross household income is $45k
-your monthly expenses exceed your monthly income
Yet
-you refuse to downsize (sell your house, cars, watches)
-you are also extremely hesitant to refi your mortgage
-your wife goes skiing but will not get a job
-you made a deal with said wife to keep your cars if you get a 2nd job (which sounds more like a deal a 16 year old would make with their parents)
I have a couple of predictions but will keep them to myself...
-Your total gross household income is $45k
-your monthly expenses exceed your monthly income
Yet
-you refuse to downsize (sell your house, cars, watches)
-you are also extremely hesitant to refi your mortgage
-your wife goes skiing but will not get a job
-you made a deal with said wife to keep your cars if you get a 2nd job (which sounds more like a deal a 16 year old would make with their parents)
I have a couple of predictions but will keep them to myself...
03-09-2010, 05:59 PM
#180
Rennlist Member
A few more thoughts, and I will jump out.
1. None of us walk in Steve's shoes, so we don't know the whole situation, only that which he's shared with us. Some of us likely imagine that we 'know' more than we do because we've filled in blanks or distorted the situation to fit our own realities/experiences.
2. Steve doesn't owe us anything. Our advice is worth what he paid for it, and there's no obligation for him to determine his path from the input gathered here.
3. That said, there is a lot of great input here. The OP's situation isn't exactly cut and dried, but I believe that some careful life assessment is in order.
4. I believe that Steve and his family might be better served looking at the situation as an opportunity, rather than a difficult spot. Starting fresh (moving?) might be a good plan, but it feels that Steve and his family have built themselves a lot of constraints that lock their decisions down too tightly.
1. None of us walk in Steve's shoes, so we don't know the whole situation, only that which he's shared with us. Some of us likely imagine that we 'know' more than we do because we've filled in blanks or distorted the situation to fit our own realities/experiences.
2. Steve doesn't owe us anything. Our advice is worth what he paid for it, and there's no obligation for him to determine his path from the input gathered here.
3. That said, there is a lot of great input here. The OP's situation isn't exactly cut and dried, but I believe that some careful life assessment is in order.
4. I believe that Steve and his family might be better served looking at the situation as an opportunity, rather than a difficult spot. Starting fresh (moving?) might be a good plan, but it feels that Steve and his family have built themselves a lot of constraints that lock their decisions down too tightly.