Cash Liquidity

ASAP · 07-05-2018, 08:53 AM

Quote:

Originally Posted by ASAP

Quote:

Originally Posted by ASAP

As of now 3 things can be concluded-

1) The BP population is not very representative of the USA as a whole as it is generally a more wealthy crowd. This is a very real possibility, I expect this to an extent.
2) Everyone is lying... and / or not really practicing what they typically preach and I would be sure to note all investment advice on this forum w a massive warning (this should be common sense anyhow). People are actually hoarding more cash than they usually say they do.
3) The general govt statistics are flawed or spun in someway or everyone in the general population is lying... another possibility.

lol, still the same 3 assumptions

lol still same 3 assumptions... nothing has changed

Never_Enough · 07-05-2018, 08:59 AM

Been thinking of maybe taking some of my rainy day $ & putting it int the stock market as I'll earn more than the shit interest rate it gets now.

Never_Enough · 07-05-2018, 09:01 AM

Quote:

Originally Posted by qba335i

It's not what you make - it's what you save.

300k - total salary
-37k - max 401k contribution for 2 people
- 80k tax (30% tax rate)
= 183k

Now expenses (annual):
- 50k mortgage (600-700k home)
- 15k property tax
- 10k car payments
- 10k vacations (family of 4)
- 12k groceries
- 20k school/activities for 2 kids
- 10k clothes
- 10k miscellaneous home items
- 20k student loans (graduate school?)

A few other expenses and you basically live paycheck to paycheck.

$10k clothes & $12k food? That's nuts. Glad I have no kids.

kscarrol · 07-05-2018, 10:30 AM

$12k in food is only $230 a week. That's low, all it takes is one dinner out per week even at a modestly priced restaurant for two.

gary_william · 07-05-2018, 11:14 PM

I keep 5k in cash in house in the event of a Hooker Apocalypse (Hot girls walking the streets moaning "Cooooock") Must be prepared.

uniqueMR · 07-06-2018, 12:01 AM

I always keep access to $90-100K cash

PoorLurker · 07-07-2018, 10:43 AM

Quote:

Originally Posted by ASAP

too many people think retirement is some sort of heavens gate... false assumption... u hve to live hour life; i dont feel at 30 how I felt at 25... the problem is tjst most people dont have hobbies amd retire w money not knowing what to do w themselves... saddest scenario of all

With the excess money I have per month in retirement, I will buy a new car that will make "driving around to try and find hobbies" all that more enjoyable.

wdb · 07-07-2018, 10:48 AM

Quote:

Originally Posted by PoorLurker

With the excess money I have per month in retirement, I will buy a new car that will make "driving around to try and find hobbies" all that more enjoyable.

That's my plan too. Since there's two of us maybe we can just call it a hobby?

Kolyan2k · 07-07-2018, 11:04 AM

75% of life is before the retirement

ASAP · 07-07-2018, 12:16 PM

Quote:

Originally Posted by Kolyan2k

75% of life is before the retirement

i wiuld say 85%

65/75

This is good health withstanding...

arkie6 · 07-07-2018, 01:40 PM

This thread reminds me that I have too much cash in the bank and need to move some into investments.

arkie6 · 07-07-2018, 02:30 PM

Quote:

Originally Posted by qba335i

It's not what you make - it's what you save.

300k - total salary
-37k - max 401k contribution for 2 people
- 80k tax (30% tax rate)
= 183k

Now expenses (annual):
- 50k mortgage (600-700k home)
- 15k property tax
- 10k car payments
- 10k vacations (family of 4)
- 12k groceries
- 20k school/activities for 2 kids
- 10k clothes
- 10k miscellaneous home items
- 20k student loans (graduate school?)

A few other expenses and you basically live paycheck to paycheck.

I agree it is not what you make, but what you save.

Another scenario:

150k - total salary for 2
-18k - 401k contribution
-6.5k - Roth IRA
-26k - automatic additional savings deductions (1k/paycheck)
-6.5k - health savings account
-10k - 2 kids college savings plan
-33k - fed & state taxes
= 50k after taxes and automatic savings deductions

Now expenses (annual):
- 0k mortgage (250k home in the country built and payed for with cash)
- 2k property tax
- 0k car payments (used car/truck/suv/motorcycle payed for with cash)
- 4k vacations (family of 4)
- 15k groceries & eating out
- 8k school/activities for 2 kids
- 2k clothes
- 2k miscellaneous home items (insurance, water & electric bills, etc.)
- 0k student loans (work + scholarships - it pays to get good grades in HS)
- 3k gasoline
- 2k internet, tv, movies, entertainment
= 38k expenses

50k - 38k = 12k leftover = ~$1000/mo extra to blow, buy motorcycles, 4 wheelers, guns, boats, fishing gear, car & truck parts, or put into more savings.

PoorLurker · 07-07-2018, 03:38 PM

Quote:

Originally Posted by wdb

That's my plan too. Since there's two of us maybe we can just call it a hobby?

If we share cars then maybe we can say it's more than a hobby.

AWSB328iM · 07-08-2018, 11:06 PM

Quote:

Originally Posted by kscarrol

$12k in food is only $230 a week. That's low, all it takes is one dinner out per week even at a modestly priced restaurant for two.

Chilis 2 for $20!

kscarrol · 07-09-2018, 08:02 AM

Quote:

Originally Posted by AWSB328iM

Chilis 2 for $20!

Ha! I'll pass... But even if you do this you know you need at least one beer to wash it down with!

ASAP · 07-09-2018, 08:16 AM

Quote:

Originally Posted by AWSB328iM

Chilis 2 for $20!

I went to Chilis a week ago and was shocked at how cheap it was...

I paid $10.99 for wings and 2 beers

... where i live in the local bar that would be well over $20.

Never_Enough · 07-09-2018, 08:35 AM

Quote:

Originally Posted by kscarrol

$12k in food is only $230 a week. That's low, all it takes is one dinner out per week even at a modestly priced restaurant for two.

Maybe "low" for a family with kids, but for me as a single guy, $230 per week on food would be stupid high.

kscarrol · 07-09-2018, 09:01 AM

^ Agreed but the scenario at a minimum was a married couple so at least two mouths to feed. Can someone eat for $230 a week, absolutely.

dmk08 · 07-09-2018, 09:07 AM

Quote:

Originally Posted by Darth One

or lying

This is a BMW forum where most of the new M cars cost 80k+. I would hope everyone buying one of those has at least 100k in the bank.

To the above topic. My wife and I eat very well all organic etc. No kids. We spend about $200 a week between two of us.

Darth One · 07-09-2018, 10:43 AM

Quote:

Originally Posted by dmk08

Quote:

Originally Posted by Darth One

or lying

This is a BMW forum where most of the new M cars cost 80k+. I would hope everyone buying one of those has at least 100k in the bank.

To the above topic. My wife and I eat very well all organic etc. No kids. We spend about $200 a week between two of us.

I think you'd be surprised

Of course, I'm sure these people exist on the forum, but it's pretty easy for people of a certain income level to afford M3's, as long as their source of income doesn't get interrupted.

Also, these kind of polls always end up in e-penis measuring contests

dmk08 · 07-09-2018, 10:46 AM

Quote:

Originally Posted by Darth One

I think you'd be surprised

Of course, I'm sure these people exist on the forum, but it's pretty easy for people of a certain income level to afford M3's, as long as their source of income doesn't get interrupted.

Also, these kind of polls always end up in e-penis measuring contests

Oh I know. I know guys who make 90k a year and drive an M3 with no savings. Living in a true house of cards. I guess I just hope most are smarter than that but reading statistics on our society probably not.

zx10guy · 07-09-2018, 12:11 PM

Quote:

Originally Posted by dmk08

This is a BMW forum where most of the new M cars cost 80k+. I would hope everyone buying one of those has at least 100k in the bank.

To the above topic. My wife and I eat very well all organic etc. No kids. We spend about $200 a week between two of us.

You're assuming they're actually buying these vehicles. Leases make it possible for most anyone to appear wealthy.

View Poll Results: How much in Liquid cash do you have?
$0-10K	23	14.84%
$10-20K	15	9.68%
$20-50K	38	24.52%
$50-100K	15	9.68%
$100K+	64	41.29%
Voters: 155. You may not vote on this poll

07-05-2018, 08:59 AM	#90
Never_Enough Banned 2225 Rep 2,476 Posts Drives: Satan's Chariot 2.0 Join Date: Sep 2013 Location: PA iTrader: (6) Garage List 2018 Charger Hellcat [0.00]	Been thinking of maybe taking some of my rainy day $ & putting it int the stock market as I'll earn more than the shit interest rate it gets now.
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07-05-2018, 10:30 AM	#92
kscarrol Brigadier General 9609 Rep 4,130 Posts Drives: 2021 X3 M40i, 1974 2002 Tii Join Date: Jun 2010 Location: Greenville, SC iTrader: (0)	$12k in food is only $230 a week. That's low, all it takes is one dinner out per week even at a modestly priced restaurant for two. __________________ 2021 X3 M40i 1974 2002tii, Inka, 5 sp manual BMWCCA # 327475 Last edited by kscarrol; 07-05-2018 at 01:14 PM..
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07-05-2018, 11:14 PM	#93
gary_william Private First Class 330 Rep 169 Posts Drives: 2013 128i Join Date: May 2017 Location: Vancouver, WA iTrader: (0)	I keep 5k in cash in house in the event of a Hooker Apocalypse (Hot girls walking the streets moaning "Cooooock") Must be prepared.
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07-06-2018, 12:01 AM	#94
uniqueMR Colonel 1899 Rep 2,928 Posts Drives: ... Join Date: Dec 2017 Location: USA iTrader: (0)	I always keep access to $90-100K cash __________________ Currently: '22 Ferrari F8 \| '24 Mercedes G63 \| '24 Porsche GT3RS \| '24 Volkswagen GTI Previous BMWs: 340i, 740i, 745Li, M3, M4 Previous Others: Audi, Ducati, Honda, Infiniti, Land Rover, Mercedes-Benz, MINI, Mitsubishi, Porsche, Toyota, Volkswagen
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07-07-2018, 11:04 AM	#97
Kolyan2k Major General 968 Rep 5,555 Posts Drives: 2006 S2000 Join Date: Apr 2010 Location: Boston iTrader: (1)	75% of life is before the retirement
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07-07-2018, 01:40 PM	#99
arkie6 Lieutenant 395 Rep 433 Posts Drives: 2008 BMW 335i sedan Join Date: Aug 2014 Location: Russellville, AR iTrader: (0) Garage List 2008 BMW 335i [0.00]	This thread reminds me that I have too much cash in the bank and need to move some into investments. Last edited by arkie6; 07-07-2018 at 02:32 PM..
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07-09-2018, 09:01 AM	#106
kscarrol Brigadier General 9609 Rep 4,130 Posts Drives: 2021 X3 M40i, 1974 2002 Tii Join Date: Jun 2010 Location: Greenville, SC iTrader: (0)	^ Agreed but the scenario at a minimum was a married couple so at least two mouths to feed. Can someone eat for $230 a week, absolutely. __________________ 2021 X3 M40i 1974 2002tii, Inka, 5 sp manual BMWCCA # 327475
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