[methodtim]

Originally Posted by slipperman

SAP 2000? the structural analysis program?

I think he meant SAP as in Systems Applications and Products in Data Processing. It's usually a really complicated suite of applications that run your whole company. Consultants in this field make lots of dough.

[JRJ1970]

Originally Posted by mike-y

No, that would be bad. You don't lose your 401k if you get laid off, and you are taxed heavily on it if you take it out early. but you were probably joking

Am! I'm safe for a bit with my regular savings. Not worried....

[methodtim]

Originally Posted by vegasspeed

Are more worried about losing their jobs than getting a new car or new parts for their car?

Is it me or does it seem like the people on this board are in a bubble compared to everyone I talk with in person. Everyday I hear about someone losing part of their salary or losing a job.

Is there that many people here who live with Mom and Dad?

I haven't lived with Mom and Dad for 17 years now, but I do see them regularly, they babysit my daughter.

I saved up a bunch of money and bought my car with cash, so I have no payments of any kind to worry about. That and I'm saving as much money as I can (which is hard with a new baby, but I try my best).

With regards to worrying about losing my job, I'm not too worried; however, if it happens, I have marketable skills and a pretty good resume so I'm sure I'll land on my feet. That said, though, I'm definitely curtailing any unnecessary expenses during this time, so my car is going to remain bone stock for a while.

[RyanDe680]

My question is anyone building a house right now??

[Bilka]

Originally Posted by RyanDe680

My question is anyone building a house right now??

[vegasspeed]

My point is not to discuss the economy but rather I wonder why this board seems less concerned about it than other boards. People on here still seem like they spending money like it is going out of style. I see people dropping 3k-5k on wheels still during a time when that is not a good idea overall. If you are wealthy than I say you got that way by being smart. Which means buying cars and car accessories during a recession is not the best move with your extra money. I think there are more young people leasing these cars than other similar rides. That leads to "who cares" spending.

If you live with Mom or Dad and don't have a mortgage or two than buying some car parts probably makes sense.(not really but in some people's minds it does).

The point of this is maybe this is the time to hold onto your money rather than buying that new big screen or chrome rims fellas.

[methodtim]

You can take my big screen from my cold, dead fingers.

[Mehale]

I personally am scared and think about it daily. I'm a 23 year old young adult, that just started working about a year ago. Although my job is secure working at a Berkshire Hathaway company you never know what can happen. I have saved up hard to put a solid downpayment on my 2007 335i and still make rather large monthly payments (large payments for a 23 year old at least). If I lost my job, I would not be able to cut it with car payments.

I am absolutely in love with my car and driving it through the week is what brings me the most joy. If I lost my job, the first plan is a way to financially support my car payments.

Yes, i'm worried about it and think about my car purchase daily.

[MontegoGoGoGo]

Originally Posted by vegasspeed

My point is not to discuss the economy but rather I wonder why this board seems less concerned about it than other boards. People on here still seem like they spending money like it is going out of style. I see people dropping 3k-5k on wheels still during a time when that is not a good idea overall. If you are wealthy than I say you got that way by being smart. Which means buying cars and car accessories during a recession is not the best move with your extra money. I think there are more young people leasing these cars than other similar rides. That leads to "who cares" spending.

If you live with Mom or Dad and don't have a mortgage or two than buying some car parts probably makes sense.(not really but in some people's minds it does).

The point of this is maybe this is the time to hold onto your money rather than buying that new big screen or chrome rims fellas.

Not sure what you consider young, but I'm 28, and bought my car with cash.
I own a house and run a business and work hard! (Not working as hard as I should be since discovering this forum, lol)

My point is: not all young BMW drivers are stupid, reckless, spoiled brats!

[fwmcb]

Of Course I'm worried like most others are... But you're dead a long time, so why drive a shit box? That's just my outlook!

[Bimmerista]

Originally Posted by vegasspeed

My point is not to discuss the economy but rather I wonder why this board seems less concerned about it than other boards. People on here still seem like they spending money like it is going out of style. I see people dropping 3k-5k on wheels still during a time when that is not a good idea overall. If you are wealthy than I say you got that way by being smart. Which means buying cars and car accessories during a recession is not the best move with your extra money. I think there are more young people leasing these cars than other similar rides. That leads to "who cares" spending.

If you live with Mom or Dad and don't have a mortgage or two than buying some car parts probably makes sense.(not really but in some people's minds it does).

The point of this is maybe this is the time to hold onto your money rather than buying that new big screen or chrome rims fellas.

Well, some of us are spending well below their means, and have done so even during the go go days of 2001-2006. So for some of us, getting a BMW or getting some accessories for it is OK.

But I do agree with the OP that its best to review one's spending habits to remove excess.

[PNF]

Originally Posted by vegasspeed

My point is not to discuss the economy but rather I wonder why this board seems less concerned about it than other boards. People on here still seem like they spending money like it is going out of style. I see people dropping 3k-5k on wheels still during a time when that is not a good idea overall. If you are wealthy than I say you got that way by being smart. Which means buying cars and car accessories during a recession is not the best move with your extra money. I think there are more young people leasing these cars than other similar rides. That leads to "who cares" spending.

If you live with Mom or Dad and don't have a mortgage or two than buying some car parts probably makes sense.(not really but in some people's minds it does).

The point of this is maybe this is the time to hold onto your money rather than buying that new big screen or chrome rims fellas.

This is pretty much subjective and I am sure there are millions of rich/middle class people in the country.

Back to the topic.

Not worried about my job... but I AM WORRIED ABOUT MY H1-VISA!!!

I have been working for awhile, have saved up, and actually just bought my first place last year. I have a mortgage, no car payment (bought my E92 with cash), and working.

Now, with all the economic downturns, and I am applying for my H1 this year... I am worried about... not getting my visa.. and not loosing my job..

(I'm from Canada)..

[g2artist]

Originally Posted by Nomad

I own my own company and it is still doing well thank goodness.
But I am part of the computer industry with a product called SAP which is not going anywhere anytime soon.....
Now I am going to go find some wood to knock on....

God, I use SAP at my work and I wish you guys WOULD go under so we dont have to use it anymore............Horrible stuff

[acecars]

Most here and most on all auto-related message boards are young men with secure jobs in high tech.

[methodtim]

Originally Posted by acecars

Most here and most on all auto-related message boards are young men with secure jobs in high tech.

No such thing as a secure job in high tech. More like our skills are transferable, thereby making our employment prospects more secure, on the whole, than a person that mounts sprockets on widgets for a living.

[TTG]

Originally Posted by acecars

Most here and most on all auto-related message boards are young men with secure jobs in high tech.

Talk about living in a bubble!

I canceled my M3 order as I decided money in savings is much better than money spent these days. I know many people like the ones on earlier posts who claimed their jobs are secure, not going anywhere & etc trying to make a fat car payment while collecting unemployment and trying to sell everything at a huge loss to get out of payments these days.....But hey, their jobs were rock solid 2 months ago! I seem to be one of the very few people who saves up 1st and then buy whatever I need. Buying a new car right now just did not seem logical..... My car fund is there and will be put to good use when times are a bit better.

[TTG]

Originally Posted by methodtim

No such thing as a secure job in high tech. More like our skills are transferable, thereby making our employment prospects more secure, on the whole, than a person that mounts sprockets on widgets for a living.

Very well put.

[TofuTurkey]

Originally Posted by vegasspeed

Is it me or does it seem like the people on this board are in a bubble compared to everyone I talk with in person. Everyday I hear about someone losing part of their salary or losing a job.

Whenever I'm sick of stuff at work, I hop in here and read the posts. That always cheers me up

Today I started thinking about moving to a different company, in Europe. I believe I've got my house and car thought out, right now I need to learn more about the place itself. I've got about till end of the year to start the process, so there's still quite some time left to decide... It's the economic crisis, most people stay put in school, there could be good pickings out there

[am_ver]

Originally Posted by methodtim

I think he meant SAP as in Systems Applications and Products in Data Processing. It's usually a really complicated suite of applications that run your whole company. Consultants in this field make lots of dough.

I think he means the german applications company SAP - www.sap.com

[cgpublic]

Originally Posted by vegasspeed

Is there that many people here who live with Mom and Dad?

No, I don't believe that it is a case of posters living at home with their Mom & Dad. That said, it's probably true a significant number of posters...

a) Can count on their parents as a fall back position in case their personal economic situation became dire.
b) Which is an option because they are unmarried and do not have any children.

All I can tell you is this. If you were born after 1972, you really don't have any personal experience of what a significant recession will mean, if not for you personally, for pretty much everyone else around you.

Unless the pundits are wrong, it looks like all of us are going to get first-hand experience in the next 6 to 12 months. That said, it can't last forever, and the US should bounce back before Europe.

Right about the time for the launch of the next-gen 3!

[Bimmerista]

Originally Posted by am_ver

I think he means the german applications company SAP - www.sap.com

I think you are both talking about the same thing......

Originally Posted by cgpublic

No, I don't believe that it is a case of posters living at home with their Mom & Dad. That said, it's probably true a significant number of posters...

a) Can count on their parents as a fall back position in case their personal economic situation became dire.
b) Which is an option because they are unmarried and do not have any children.

All I can tell you is this. If you were born after 1972, you really don't have any personal experience of what a significant recession will mean, if not for you personally, for pretty much everyone else around you.

Unless the pundits are wrong, it looks like all of us are going to get first-hand experience in the next 6 to 12 months. That said, it can't last forever, and the US should bounce back before Europe.

Right about the time for the launch of the next-gen 3!

Oh how I wish I was born after 1972............................

And yes, this too shall pass.

[Neutrino45]

Don't you know that most people who post on this board are kids??? You see a lot of reference to their dad, mom, parents, etc... Take a look at the age threads and you'll see how old they are.