This is an interesting discussion
Both points are valid imo, you need to plan to retire comfortably, yet you could also get hit by a bus tomorrow. So we try to land on a spot between those bookends.
We’ve got this take on one end,
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I also would aim for 33% of your gross. If you're really a car guy, maybe stretch to 40%. So a decently loaded M240i xDrive after TTL is like $60K, so you'd need to make $150K minimum.
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And the other end here,
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150k minimum is a comical amount for an M240i xDrive, let's be real. $7500/month take home for a 60k car after benefits/retirement contribution?
Especially if he's living at home, $15k down even @ 60 months is roughly $900/month for financing if he wants the car. It's not like he's going to be struggling to live with 100k gross buying a 60k car.
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Personally, I fall just outside of OP1’s algorithm so naturally I’m more biased with OP2. But this is the part I find interesting;
I know it’s more responsible to have a Camry as a daily driver, but if I’m on the hook for working 40 hours a week with high stake responsibilities, I need some sort of offset.
Maybe this is a character flaw, but either way it’s important to be honest with yourself about it. I need to feel the benefits of that labor even if it’s just during the drives to and from work.