Author Topic: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…  (Read 10589 times)

eav

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“Our lifestyle requires approx 300-350K per year to live…. otherwise we are quite frugal-old cars, just love coupons and costco!!”

WHAT!!

I enjoy seeing perspectives across income spectrums on this blog and various others but...how could you even consider putting the word “frugal” in the same comment as “300-350K per year to live”?! I truly don’t understand how people get so out of touch with reality. I know everything is proportionate to how much you make and these people really could be saving a very high percentage of their income as most on this blog do, but this is like an insult!



Davnasty

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #1 on: May 08, 2018, 12:30:13 PM »
“Our lifestyle requires approx 300-350K per year to live…. otherwise we are quite frugal-old cars, just love coupons and costco!!”

WHAT!!

I enjoy seeing perspectives across income spectrums on this blog and various others but...how could you even consider putting the word “frugal” in the same comment as “300-350K per year to live”?! I truly don’t understand how people get so out of touch with reality. I know everything is proportionate to how much you make and these people really could be saving a very high percentage of their income as most on this blog do, but this is like an insult!

Typo? Maybe 30-35? I don't know how someone who spends that kind of money could care about coupons that save a few dollars. Maybe most of their spending comes from a few very high expenditures like a multi million dollar home or private school tuition for several kids and to them that money is spoken for, no compromise.

The wording is odd too. To me it reads "we spend a shitload of money... otherwise we are quite frugal". Is this different than "I weigh 400lbs... otherwise I'm quite skinny"?

RWD

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #2 on: May 08, 2018, 12:38:03 PM »
Typo? Maybe 30-35? I don't know how someone who spends that kind of money could care about coupons that save a few dollars. Maybe most of their spending comes from a few very high expenditures like a multi million dollar home or private school tuition for several kids and to them that money is spoken for, no compromise.

The wording is odd too. To me it reads "we spend a shitload of money... otherwise we are quite frugal". Is this different than "I weigh 400lbs... otherwise I'm quite skinny"?

Quite bizarre indeed. Assuming it's this post it looks like they have $5+ million in investable assets and can't quite retire yet due to their spending.........

eav

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #3 on: May 08, 2018, 12:44:35 PM »
That's the one! Didn't want to post myself and cause a possible MMM war over there LOL

I see some reasonable real estate investing expenses...but where could the rest of it possibly be going?! Not a comment I can make about frugal people usually :)

SpreadsheetMan

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #4 on: May 08, 2018, 12:48:12 PM »
Lol - their aspiration is to get down to 200k pa spending!

Just Joe

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #5 on: May 08, 2018, 12:56:29 PM »
Maybe they are talking about rubles or pesos or lira?

eav

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #6 on: May 08, 2018, 01:04:50 PM »
Lol - their aspiration is to get down to 200k pa spending!

This is my first time quoting, so I hope that worked ^^^

I’m all for big earners being big spenders, but I’m firmly against delusion and it seems to have a positive correlation with income. Needing to cut 100-150k of discretionary expenses is a problem I hope to never have!

Laura33

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #7 on: May 08, 2018, 01:33:33 PM »
I don't know how someone who spends that kind of money could care about coupons that save a few dollars.

I think it is normal human psychology at work.  The kind of people who would read and write into that particular blog tend to hold a particular set of values.  And flashy, extravagant living is inconsistent with those values -- I mean, they may not dream of living on $35K/yr, but they're also not driving Lamborghini's, right? 

So if you think of yourself as "reasonably frugal," or "middle class," or whatever, and yet you're making -- and spending -- a metric shit-ton of money, what do you do?  You cling to certain signifiers that signal to the world (and yourself!) that you are still the same frugal, normal person you have always been.  So you live in a $3.5M house -- but you drive used cars!  Sure, you take extravagant vacations -- but you clip coupons and shop at Costco!  So really, you're still just a normal, average Joe at heart, see? 

And that allows you to see that $3.5M (!!!) house as normal, as forced on you by circumstance (we live in LA!*  It's wicked expensive here!  I "deserve" a nice environment because I work sooooo hard!), and not a sign that you have become a spendy, flashy person you don't recognize.** 

*Sorry, but even for LA, that is a LOT of money.
**Or, as Joe Walsh so aptly put it, "It's tough to handle this fortune and fame.  Everybody's so different, I haven't changed."

patchyfacialhair

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #8 on: May 08, 2018, 02:39:22 PM »
 $60,000.00    cash
 $1,142,000.00    investments
 $1,500,000.00    defined ben plan
 $1,400,000.00    op 401k
 $566,000.00    sp 401k
 $60,000.00    roth
 $550,000.00    sp ira
 $30,000.00    inherited ira
 $147,000.00    def comp
   
 $1,053,000.00    proceeds after sale of house and move to condo
 $351,000.00    proceeds after sale of rental 1
 $248,000.00    proceeds after sale of rental 2
   
 $7,107,000.00    total nest egg
   
 $284,280.00    retirement at 4%
 $248,745.00    retirement at 3.5%
 $213,210.00    retirement at 3%

I think they'll be ok, just hope they sort out the whole "wow much do I really spend" thing, otherwise they'll end up with the poors in the valley.

Eric

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #9 on: May 08, 2018, 06:24:41 PM »
Quite bizarre indeed. Assuming it's this post it looks like they have $5+ million in investable assets and can't quite retire yet due to their spending.........

Oh good.  The title of this post makes it seem like there's an actual personal finance blog writer that has that spend rate.  If it's simply a post from a random person on a forum, that's an entirely different matter.

I mean, of course it's still patently ridiculous, but there are a lot of people that have no clue, so that part doesn't really shock me.

bacchi

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #10 on: May 08, 2018, 08:57:45 PM »
bogleheads is a different kind of blog. They care about LBYM but it's really about low fund expenses.

https://www.bogleheads.org/forum/viewtopic.php?f=11&t=248960&newpost=3919355

See this thread (title being "How much car to buy on $250K income, $200K NW, newborn on the way"). The question's wrong, as the #2 poster responded, but check out this response:

Quote
Upto 3 mo total income = 60K.

Wuuut?!? A completely arbitrary number based on...de Beer's formula for a wedding ring?

Njdealguy

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #11 on: May 09, 2018, 07:37:42 AM »
This title, "How much car to buy on $250K income, $200K NW', hehe, I think its worse that the NW is ONLY that much on the stated income, unless the person is still under age 30 or something.  In his situation I'd strictly go for a used car for no more than 10k provided it functions perfectly fine and properly inspected.

On the other hand for the post mentioned by OP, I do think after NW hits a certain number of MM's, it is fine to spend 3 or 4% of the portfolio annually regardless of how big its become, since not doing it will just be exponential growth that may never be spent, only to become a bigger inheritance for heirs or go to someone else eventually.  Hitting a super high NW of course is presumably against this site's principles in that the person could have FIREd much earlier than waiting for the NW to become so high to begin with.

jinga nation

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #12 on: May 09, 2018, 07:59:04 AM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

Sibley

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #13 on: May 09, 2018, 09:09:02 AM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

Yeah, I got that impression. I don't go there, ever. Have trouble navigating anyway, and the silliness from the one time I poked around annoyed me. I get grumpy enough on here sometimes, I don't need to encourage it.

Jrr85

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #14 on: May 09, 2018, 09:28:43 AM »
Yeah, bogleheads is not a PF blog, and both expenses and retirement stashes seem to be really inflated over there.  er.org also tends to trend much higher than here.

I can't fathom spending 300k/year and thinking you are frugal, though.  Unless 250k of that was going to medical expenses/nursing home care or something.

People judge themselves by their peer group.  Also, the guy clearly doesn't really have a handle on what they are spending, so they could be spending a ton, or he could be ball parking based on how much money he has left and not realizing that most of that $300k to $350k that is "spent" is just taxes. 

Just ballparking, at $650k combined household income and with $20k in property taxes, they could have paid a quarter million in Federal, State, and Property Taxes last year.  Throw in another $24k for mortgage for a house that probably looks like an upper middle class house from a lot of other parts of the country.  Then you have some of the highest utility rates in the country, plus most of what you buy reflects the higher property costs and cost of living of California, plus the relatively high 7%+ sales tax, and it'd be pretty easy to hit around $330k while living what would look like a middle or upper middle class lifestyle because income and property taxes account for three quarters of their spending.   

Maenad

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #15 on: May 09, 2018, 12:25:24 PM »
This reminds me of my tax guy calling DH and I "middle class", despite us being in the top 3% of household income in the US.

(And yes, I realize that if you go by professions, like in the definition used by Wikipedia, we are. I just can't agree.)

alanB

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #16 on: May 09, 2018, 01:12:58 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

Yeah, I got that impression. I don't go there, ever. Have trouble navigating anyway, and the silliness from the one time I poked around annoyed me. I get grumpy enough on here sometimes, I don't need to encourage it.

Bogleheads is funny.  If you posted "How much should I spend on investment fees?" you would get absolutely murdered if you spend too much.  Meanwhile "spend X% of your NW" on anything else is considered sound advice.  "Maybe you do not need another porsche?" is strictly verboten.

Flynlow

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #17 on: May 09, 2018, 02:16:37 PM »
Maybe because one is objective investment advice based on Jack Bogle’s guidance, who the forum is named for?  And the other is trying to tell people how to live their lives and is an arbitrary moral judgment of someone else that was neither asked for nor wanted?

Obviously, I’m on the MMM forums, so I get it, but wow there’s a lot of people here who post up a story along the lines of, “I went to (other place) and started calling them ridiculous and preaching the MMM gospel and they didn’t like it!  What is wrong with THEM?”

Some people have a good job and are content working to 65 or beyond so they can have nice things.  If they’re not here asking for advice, be happy for them, leave them alone, and focus on improving your own life instead.  Everyone will be happier for it. 

TheGrimSqueaker

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #18 on: May 09, 2018, 09:09:58 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

Davnasty

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #19 on: May 10, 2018, 07:48:26 AM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

Lol, when I saw that post about a polite facepunch, my first thought was "polite? that doesn't seem like jinga nation's style"

PizzaSteve

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #20 on: May 10, 2018, 09:02:43 AM »
Not to be an appoligist for these guys, but when I read it I but they are not spending what the OP post implies. I thimk they just cant budget yet.

Yes they have a high income, but at that income and owning 3 properties their tax bill is huge.  They have multiple rental properties which combine to over 80k in annual outlays for taxes, morgage, and also a 3M home with a home morgage of 450k, which implies extra equity payments. I am guessing 100k+ of their lifestyle costs are property taxes, fed and high CA state income taxes on their 400k in income, and the outlays for their rental properties.

So in actuality, they are likely counting large annual 'investments' in taxes and property equity as 'spending.'

My guess is that their real spending is much lower that what they cite.  They are probably also considering principal payments on their primary morgage as 'expenses' until it is paid off.  3M is a lot of equity!  That usually doesnt happen with spendy people. LA spendthrifts take out an equity loan and spend it on designer clothes.  My guess is that they really havent budgeted properly and are very able to retire for sure.

This couple has accumulated over 3M in home equity, 5.5M equity in accounts (retirement and brokers), and another 600k in rental property equity, while fully funding putting their kids through grad school in a HCOL area.  They have won the game and should be praised for doing well.  I would respond by pointing out how to budget properly and then recommend that they sell their rental properties.  They could then realize that they no longer need to fund a massive savings rate anymore, because they have more than enough.  Once they subtract the investing, taxes on their rental properties, and high income taxes, my guess is that their spending will plummet.  They will realize their income needs are much less.  I bet they are used to funding private school for their kids too and just dont know what they spend because they never had to track it due to high income.

Some folks on this site can be very judgemental, so I just wanted to post a possible contrary view.  Now I didnt read the whole thread, so these specific folks may indeed be spendthrifts.  Hard to know for sure on an internet site where trolls and missinformation can be posted too.
« Last Edit: May 10, 2018, 09:23:35 AM by PizzaSteve »

cats

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #21 on: May 10, 2018, 09:10:20 AM »
LOL.  Scrolling through the thread it seems the OP doesn't really have much idea what they are spending each year at all.  They start off with the 300-350k estimate, then they say they could probably live on $10-15k/month after taxes (120-180k/yr), then they say they could live off 200k "net".  Then they actually run some numbers and determine that their expenses are closer to $150k/yr.  They seem to be pulling numbers out of a bodily orifice somewhere below the waist.

PizzaSteve

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #22 on: May 10, 2018, 09:25:46 AM »
LOL.  Scrolling through the thread it seems the OP doesn't really have much idea what they are spending each year at all.  They start off with the 300-350k estimate, then they say they could probably live on $10-15k/month after taxes (120-180k/yr), then they say they could live off 200k "net".  Then they actually run some numbers and determine that their expenses are closer to $150k/yr.  They seem to be pulling numbers out of a bodily orifice somewhere below the waist.
Exactly.  Classic high income person who is LBYM, but never budgeted because they never had to.  These types think they need to match their earned income in retirement because they have never done the math or budgeted.  Not mustacian, but not rediculous either, just ignorant.

jinga nation

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #23 on: May 10, 2018, 01:25:41 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

Yeah, I got that impression. I don't go there, ever. Have trouble navigating anyway, and the silliness from the one time I poked around annoyed me. I get grumpy enough on here sometimes, I don't need to encourage it.

Bogleheads is funny.  If you posted "How much should I spend on investment fees?" you would get absolutely murdered if you spend too much.  Meanwhile "spend X% of your NW" on anything else is considered sound advice.  "Maybe you do not need another porsche?" is strictly verboten.

I was a regular at the late FatWallet Finance forums. That's where I learnt about Bogleheads, in 2010.
Bogleheads helped me set my IPS, figure out lazy portfolios and VG funds. Nothing else. Someone at BH linked MMMForums...
And that's how I'm here. Like minded peeps who I'd gladly accept facepunches from.

jinga nation

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #24 on: May 10, 2018, 01:27:32 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

You remembered my line? OMG. XOXO.

jinga nation

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #25 on: May 10, 2018, 01:30:41 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

Lol, when I saw that post about a polite facepunch, my first thought was "polite? that doesn't seem like jinga nation's style"

Took a long time to build that forum rep, have to maintain it. Esp. on this forum full of competing facepunchers.

TLC facepunches on BH still elicit moderator warnings, but if you chew someone out for paying over 0.5% ER, then your golden. Horses for courses.

ketchup

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #26 on: May 10, 2018, 01:31:50 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

You remembered my line? OMG. XOXO.
I think I need to read this in context now.

facepalm

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #27 on: May 10, 2018, 11:09:43 PM »
Maybe because one is objective investment advice based on Jack Bogle’s guidance, who the forum is named for?  And the other is trying to tell people how to live their lives and is an arbitrary moral judgment of someone else that was neither asked for nor wanted?

Obviously, I’m on the MMM forums, so I get it, but wow there’s a lot of people here who post up a story along the lines of, “I went to (other place) and started calling them ridiculous and preaching the MMM gospel and they didn’t like it!  What is wrong with THEM?”

Some people have a good job and are content working to 65 or beyond so they can have nice things.  If they’re not here asking for advice, be happy for them, leave them alone, and focus on improving your own life instead.  Everyone will be happier for it.

Word.

I like Bogleheads because they limit the conversation to 4 main topics, and endlessly prune away the unnecessary. I don't read it to gain insight into consumer level frugality or early retirement, because I know it isn't the point of the forum. So when I see a thread about 100K Porsches there, I don't bat an eyelash. Even with threads like that one, the signal to noise ratio there is pretty high.

eav

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #28 on: May 11, 2018, 10:21:03 AM »
1.   Understood Bogleheads is not geared toward early retirement
2.   So, so happy for this person making a ton of money and spending a ton of money
3.   Let’s lighten up the SJW vibe and get back to making fun of this person through the eyes of MMM philosophy the way this thread was intended for :)

TheGrimSqueaker

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #29 on: May 11, 2018, 08:33:21 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

You remembered my line? OMG. XOXO.

Jinga Nation... *everybody* remembers that line and wants to use it themselves.

MgoSam

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #30 on: May 17, 2018, 02:43:31 PM »
Maybe because one is objective investment advice based on Jack Bogle’s guidance, who the forum is named for?  And the other is trying to tell people how to live their lives and is an arbitrary moral judgment of someone else that was neither asked for nor wanted?

Obviously, I’m on the MMM forums, so I get it, but wow there’s a lot of people here who post up a story along the lines of, “I went to (other place) and started calling them ridiculous and preaching the MMM gospel and they didn’t like it!  What is wrong with THEM?”

Some people have a good job and are content working to 65 or beyond so they can have nice things.  If they’re not here asking for advice, be happy for them, leave them alone, and focus on improving your own life instead.  Everyone will be happier for it.

Word.

I like Bogleheads because they limit the conversation to 4 main topics, and endlessly prune away the unnecessary. I don't read it to gain insight into consumer level frugality or early retirement, because I know it isn't the point of the forum. So when I see a thread about 100K Porsches there, I don't bat an eyelash. Even with threads like that one, the signal to noise ratio there is pretty high.

Exactly! If you want to hand out facepunched then go to a facepunching place.

MrUpwardlyMobile

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #31 on: May 30, 2018, 10:39:29 PM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

I got banned permanently without warning one day on boglheads because I had copy and pasted my forum signature from here into a forum signature there when I made an account.  Apparently any mention of any blog in a forum signature is unacceptable even if your blog doesn’t have ads or generate revenue. Moreover, having a referral link in a signature is banned there unless it’s for the bogleheads forum to earn money.  I think the only time I ever posted there was a discussion of interest rates on savings accounts (an exciting topic to be sure).

Their world view is not mustachian, generic fire, or personal finance.  They are their own cult following and the only real overlap is that low cost index funds are favored here and there.  Discussions there on budgeting generally contain posts saying to go elsewhere or people summarizing Pete’s advice with a link here.  I tend to find that discussions here contain the same valuable information as there but they have a few more willing to regularly opine on tax specifics relating to certain types of investments.

 Back on topic though, face punching would probably result in a ban there even though it’s standard procedure here.



« Last Edit: June 03, 2018, 05:43:43 AM by MrUpwardlyMobile »

talltexan

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #32 on: May 31, 2018, 07:40:54 AM »
It's been too long since I facepunched someone. Can any of you invite more of your spendy friends to this forum so I can start trashing some bozos?

ShoulderThingThatGoesUp

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #33 on: June 03, 2018, 05:35:29 AM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

You remembered my line? OMG. XOXO.

Jinga Nation... *everybody* remembers that line and wants to use it themselves.

What was the original context? I gotta know.

TheGrimSqueaker

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #34 on: June 03, 2018, 08:39:42 AM »
facepunches are NOT allowed at Bogleheads. Even polite may-I-pretty-please facepunch you is banned.

Source: got warning in bold red letters.

When you tell someone they are jerking off the elephant while standing on their dick, that will generally draw at least a warning almost anywhere on the Net.

You remembered my line? OMG. XOXO.

Jinga Nation... *everybody* remembers that line and wants to use it themselves.

What was the original context? I gotta know.

He was commenting on one of my anecdotes about school administrators and a union sabotaging a very well run and beneficial PTA initiative. In the end there really were no winners.

Indexer

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #35 on: June 04, 2018, 08:16:50 PM »
I haven't been over there in awhile... wow.

There was 1 poster that said, "Surprised by the high bias here. I would aim for $15-20k," and they were criticized for being unreasonable because...

"$15k is def in budget econobox territory for new. We aren't going high at all!"

For new?  Who said it had to be new?

Context: this family already has a full size sedan. The second car will be for commuting. By MMM standards a used Prius, Corolla, or Honda Fit for $15k would be on the HIGH end, but I think it might avoid a facepunch.  Maybe just a shoulder punch?

Davnasty

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #36 on: June 05, 2018, 08:53:00 AM »
I haven't been over there in awhile... wow.

There was 1 poster that said, "Surprised by the high bias here. I would aim for $15-20k," and they were criticized for being unreasonable because...

"$15k is def in budget econobox territory for new. We aren't going high at all!"

For new?  Who said it had to be new?

Context: this family already has a full size sedan. The second car will be for commuting. By MMM standards a used Prius, Corolla, or Honda Fit for $15k would be on the HIGH end, but I think it might avoid a facepunch.  Maybe just a shoulder punch?

Shoulder punch and a disappointed glare, minimum.

jinga nation

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Re: Overheard on a Not-To-Be-Mentioned Personal Finance Blog…
« Reply #37 on: June 06, 2018, 07:13:09 AM »
A poster on said blog's forum was debating if spending $950k on a home renovation was ok. By his numbers, his net-worth was about $5M or more. I didn't bother checking what his location or what the renovation entails, I just noped the fuck out of that thread. If I can't afford it, I shouldn't ask... I had that feeling.

Posters there are extremes... going for absolutely low ER index funds (which is ok), invest 100k in savings account at some bank to get $400 bonus, buying a $5-10k Rolex, and all kinds of mindfuckery. However, I'll give them credit for their wikis on IPS, Lazy Portfolios, and all the technical posts (which I like to read). Now that I know jlcollinsnh blog thanks to MMM, I have good trifecta of resources.