Spirit Contract Now

jtrain609 said:
Everything you do is a bad idea.
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mikecweb said:
I guess your mother is a bad idea....
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Oh damn, son, you got SLAMPT!
 
Cherokee_Cruiser said:
Problem with car loans is far too often people focus on just the monthly price and once the dealer nails that price, it ends up being a 72-96 month loan! That's freakin 6-8 years! And now your finance charge is YOOOOOOGGEEE
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No, the issue is spending lots of money on something that doesn't produce income as well as it costing you multiples more than the alternative.

Lease vs. buy, really not much of a difference these days in overall total cost on the better cars as they depreciate linearly.

You're paying $15/day for your new car, which may be a "good deal", but it's still $15/day. An inexpensive used car would've fulfilled the role perfectly fine and while it wouldn't have looked as swanky, would've saved you tens of thousands of dollars.
 
wheelsup said:
No, the issue is spending lots of money on something that doesn't produce income as well as it costing you multiples more than the alternative.

Lease vs. buy, really not much of a difference these days in overall total cost on the better cars as they depreciate linearly.

You're paying $15/day for your new car, which may be a "good deal", but it's still $15/day. An inexpensive used car would've fulfilled the role perfectly fine and while it wouldn't have looked as swanky, would've saved you tens of thousands of dollars.
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Tens of thousands, come on now. That model used was still going for 26-30k. My best guess is it would have been worth maybe 12-15k after I was done with it in 3.5 yrs. Even if you take the middle road and say buy for 28 and sell for 13.5, I'd have lost/used 14.5 anyway. Lease was 17.5 so it's really 3k difference.
 
Derg said:
Eh, conspicuous consumption makes the world go 'round.
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Oh totally agree. The more it happens the better stocks perform.

I've read the millennial generation is all about experiences. This will be excellent for air travel as long as we can keep our heads on straight and not screw up a good thing.
 
wheelsup said:
Oh totally agree. The more it happens the better stocks perform.

I've read the millennial generation is all about experiences. This will be excellent for air travel as long as we can keep our heads on straight and not screw up a good thing.
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I'm barely a millennial, like the creepy old guy at the party. But dafuq does that even mean?
 
wheelsup said:
We already talked about this.

https://forums.jetcareers.com/threads/ma-new-babie.250529/#post-2690430

Look at the forest not the trees.
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Buy a 7 year old minivan (a minivan!) and run it for 15 years to the ground and end up spending "only" 30 grand in that endeavor. So spend my prime young adult age running a beat up car that is old, outdated, and know I won't enjoy? And why keep a car that long when I can get better more safer (and more fun) cars that come out in the future?

Your math is great and all but how much do you put a value on personal satisfaction and happiness? I would counter that it's on individual financial circumstances. I have zero debt. All that number work about brokerage account and 529 account, I'm doing that already with plenty of money in the 529 account I put away (and continue to do so) and the retirement plan which shows "on track" in those Fidelity and Schwab calculators. :) The general rule of having twice your annual salary saved in retirement by 35 is something I should exceed easily.

With your math where do you draw the line between too much fiscal conservatism and hey, 'lets have some fun in life' money? We work six-figure jobs. We have it better than 90% of Americans working today. We upgrade to a Bus or Guppy, it's not hard then to pay off debt, save for retirement, save for college funds, pay your house, have backup savings, AND still have and use money for fun stuff. Or you can live a mantra of the value of money return over time as an excuse not to splurge (assuming you have all the other financial tracks met).

We only live once and when we die we don't take any money with us. So buy that Panamera already! :)

Besides, if you're *strictly* dealing with money, return on investment, time value, having kid(s) is the worst financial investment we will make. What's the figure now, $200 grand from birth to age 18?

So.... don't have kids? Where does one draw a line on this financial "hey you got this new thing, great, but you really lost out on money over time valuation..."
 
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Cherokee_Cruiser said:
Buy a 7 year old minivan (a minivan!) and run it for 15 years to the ground and end up spending "only" 30 grand in that endeavor. So spend my prime young adult age running a beat up car that is old, outdated, and know I won't enjoy? And why keep a car that long when I can get better more safer (and more fun) cars that come out in the future?

Your math is great and all but how much do you put a value on personal satisfaction and happiness? I would counter that it's on individual financial circumstances. I have zero debt. All that number work about brokerage account and 529 account, I'm doing that already with plenty of money in the 529 account I put away (and continue to do so) and the retirement plan which shows "on track" in those Fidelity and Schwab calculators. :) The general rule of having twice your annual salary saved in retirement by 35 is something I should exceed easily.

With your math where do you draw the line between too much fiscal conservatism and hey, 'lets have some fun in life' money? We work six-figure jobs. We have it better than 90% of Americans working today. We upgrade to a Bus or Guppy, it's not hard then to pay off debt, save for retirement, save for college funds, pay your house, have backup savings, AND still have and use money for fun stuff. Or you can live a mantra of the value of money return over time as an excuse not to splurge (assuming you have all the other financial tracks met).

We only live once and when we die we don't take any money with us. So buy that Panamera already! :)

Besides, if you're *strictly* dealing with money, return on investment, time value, having kid(s) is the worst financial investment we will make. What's the figure now, $200 grand from birth to age 18?

So.... don't have kids? Where does one draw a line on this financial "hey you got this new thing, great, but you really lost out on money over time valuation..."
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There was a time not too long ago that luxury cars were reserved for those in their middle ages or in retirement. My aunt was a VP at a huge bank headquartered in Charlotte but drove a 20 year old car. Just last year after retiring she bought a BMW.

Nowadays it's all about leasing and buying expensive things because 'YOLO'. This has been great for the economy but horrible for young people's finances.

You really should look up hedonic adaptation.

Maybe I am just jaded because I saw the effects of two large recessions and their impacts on my life and others around me. Some have avoided both by being in good places and won't have the same outlook on life. Others have spouses with secure employment. Even more have parents that support them even into middle age (wife as a friend who even at 30 has her house and car paid for).

As for spending $200k raising a kid, those figures are a joke and assuming paying for college outright and all sorts of outrageous expenses most normal people wouldn't do.
 
There's nothing wrong with yolo'ing and spending all your money or saving all your money and driving old beat up cars with 500k in the bank. All that matters is whether or not you're enjoying your life to the best of your ability.

Idk why people debate this. It's like politics, you're not going to change someone's mid.

Like all things I think you've got to take the middle road. Enjoy life and your hard earned money while at the same time setting yourself up for retirement. Or not. It doesn't bother me.
 
learhawkerbe400 said:
There's nothing wrong with yolo'ing and spending all your money or saving all your money and driving old beat up cars with 500k in the bank. All that matters is whether or not you're enjoying your life to the best of your ability.

Idk why people debate this. It's like politics, you're not going to change someone's mid.

Like all things I think you've got to take the middle road. Enjoy life and your hard earned money while at the same time setting yourself up for retirement. Or not. It doesn't bother me.
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Lots of guys I work with are deathly afraid of retirement. Most will have to take a corp job afterwards because they can't afford not too. It's pretty eye opening. And they even have the PBGC money, which is the same of about a $600k annuity that they didn't have to save for.

You're on the 190 aren't you? Very different group on that plane.

I'm not trying to debate, just show a cautionary tale. Spending benefits me indirectly so I hope the good times continue.
 
wheelsup said:
Lots of guys I work with are deathly afraid of retirement. Most will have to take a corp job afterwards because they can't afford not too. It's pretty eye opening. And they even have the PBGC money, which is the same of about a $600k annuity that they didn't have to save for.

You're on the 190 aren't you? Very different very different group on that plane.

I'm not trying to debate, just show a cautionary tale. Spending benefits me indirectly so I hope the good times continue.
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I flew with plenty of those guys during my year as an FO. A lot of those guys are dead-zoners who thought they'd have pensions and then in their late 40s/early 50s it was all gone so now they're playing catch up. And they're way behind the curve. Their situation is a lot different than the guys coming up today.

The average household income in the US is what, low 50s? Something like 3% of Americans earn over 200k. We are doing really well compared to most people. 16% D.C. blows most people's minds.

I get you are cautious and don't want to end up like those guys. More power to you. I wish I had a little more fiscal restraint but I don't. However, I think I will be just fine.

And the 190 guys are fly with are probably about the same age as the guys you're flying with lol. Starting to trend down age-wise now but they were an old group there for a while.
 
wheelsup said:
As for spending $200k raising a kid, those figures are a joke and assuming paying for college outright and all sorts of outrageous expenses most normal people wouldn't do.
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Not really. In a Chi metro area, even with the frugal wife holding me back, 4.5yo's schooling and necessities are a bit north of $16k. 1.5yo is home with the grandparents, so not much expense there, but random minor fun with kids over the weekends comes to another $4k-ish a year.
Point being, 200k might not be too far off depending on where you live.
Daycare in Deland FL was like 120/week, Chi burbs more like 270/week etc. Private schooling with extended hours is roughly the same as public school plus daycare on top, about 12k for 10 months
 
BigZ said:
Not really. In a Chi metro area, even with the frugal wife holding me back, 4.5yo's schooling and necessities are a bit north of $16k. 1.5yo is home with the grandparents, so not much expense there, but random minor fun with kids over the weekends comes to another $4k-ish a year.
Point being, 200k might not be too far off depending on where you live.
Daycare in Deland FL was like 120/week, Chi burbs more like 270/week etc. Private schooling with extended hours is roughly the same as public school plus daycare on top, about 12k for 10 months
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Yeah, if you believe a family of four spends $20k a year raising their kids you're nuts. I'm sure some people spend that, on private schooling, organic prepared food, and a nanny/personal driver. But in the real world, kids take the bus, they pack brown bag lunches, and attend public schools.
 
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