Nice Parents!!

[mvp90805]

I really wanna know what you do for a living at 18 that allowed you to pay for a 25k car, a 35k car, and now a sub 40k mustang GT, because when i was 18 i had a cheap retail sales job that could barely allow me to pay for my college tuition, let alone a new car.


Seems like most 18 year olds these days are getting high paying jobs allowing them to pay for awesome cars. I guess i did it wrong when i was 18.

the coco

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[Tamadrummer88]

Yea the only problem is that a lot of young people these days really don't grasp the amount of effort you need to put in to comfortably afford the things they take for granted. It's one thing if you're going to provide for them indefinitely because you have the means. It's another when they are spoiled to the edge of their parent's budget and the kid graduates college with an unmarketable generic degree and 45K+ in debt. They get a 30K entry level position and all of a sudden bills pile up, things like basic cable become a a victim to budget and top ramen is the meal of the day...

That right there. And then they get all pumped up by their professors telling them "stay in school, you'll get a high paying job when you graduate" and then when they graduate they get some low paying job and they're thousands in college loans and they're wondering why they didn't get the job their professors said they were gonna get.

 

[Spartan]

Nothing wrong with parents buying kids a car... What are they going to do with it all? Give it to their kids in 50 years when everybody is old and it means nothing? Better to give things to them when it means something. Baby boomers are sitting on massive amounts of wealth in housing stock, equity, and wealth that will start passing down to the next gen anyway in the next decade.

I think obviously it's ok...but would be better for a college graduation present. But the kid for all we know could be a straight A student and the most responsible person on the planet.

My dad wanted me to have a cool car to enjoy in high school back in the 70's, but he also wanted me to learn responsibility, so he loaned me the money to buy a 9-year-old 67 Camaro. It took a while, but I paid him back every penny. Cool car + life lesson = win/win! Thanks Dad!

Awesome. Teaching responsibility at a young age...we need more of that.

I was blessed to have such loving and understanding parents and to this day I never let them forget how thankful I am for their love, generosity, devotion and support. Because with out them I wouldn't be who I am or where I am today. When I eventually have children I intend to support there passions and help them to make there dreams a reality.

Sounds like you had great understanding parents that instilled values. =)

That right there. And then they get all pumped up by their professors telling them "stay in school, you'll get a high paying job when you graduate" and then when they graduate they get some low paying job and they're thousands in college loans and they're wondering why they didn't get the job their professors said they were gonna get.

Unfortunately this is all too true. Like the one poster above said, the best was his parents loaning him the money and him paying it back. Teaches work ethics, responsibility, financial responsibility, fiscal responsibility and so on and then an appreciation for his money.

I hate bringing politics into things but too many of a certain side told everyone in this nation that they were entitled to everything, without putting any effort or hard work into it. And look the mess it's gotten us in. Worst, even adults who believed they were entitled to things made it way way way worse.

Everyone for the most part has equal opportunity in this great nation of ours...but no where does it say you deserve or will have equal economic outcome...

 

[Tamadrummer88]

I think obviously it's ok...but would be better for a college graduation present. But the kid for all we know could be a straight A student and the most responsible person on the planet.



Awesome. Teaching responsibility at a young age...we need more of that.



Sounds like you had great understanding parents that instilled values. =)



Unfortunately this is all too true. Like the one poster above said, the best was his parents loaning him the money and him paying it back. Teaches work ethics, responsibility, financial responsibility, fiscal responsibility and so on and then an appreciation for his money.

I hate bringing politics into things but too many of a certain side told everyone in this nation that they were entitled to everything, without putting any effort or hard work into it. And look the mess it's gotten us in. Worst, even adults who believed they were entitled to things made it way way way worse.

Everyone for the most part has equal opportunity in this great nation of ours...but no where does it say you deserve or will have equal economic outcome...

For some reason my generation (mostly the ones born in the 90's instead of the 80's) have this entitlement attitude. They expect everything to be handed to them without working hard. Lots of college students now have that mentality of "heres my degree, now give me a high paying job with all the benefits, company car, corner office, etc" without having any real world experience but just staying in school. I had friends like that where all they did was study, no part time job, parents paid for everything, bought them a NEW car, and when they graduated they were thousands in debt, no work experience, and they were depressed when all they could find was jobs that paid either minimum wage or slightly higher because thats all they were qualified for.

I always plead to the younger set to get a part time job in college, choose your major wisely, don't drink the Kool Aid your professors are dishing out, and always work hard for what you want. Sadly its falling on deaf ears.

 

[Phlyguy]

I was out with my daughter today, and we passed a new V6 Mustang, and it was being driven by some 16 year old (looked like 12), and his 3 buddies, this kid has really nice parents.... I'm assuming it's his car. I wish I had parents like that when I was teenager, I didn't get my first car until I was 18, and I bought it. Of course I could be wrong, but judging from the neighborhood I was in, I'm probably no

Hopefully he was driving it responsibly...seen too often the result of over indulgence in this business and it's usually not very pretty.

 

[thehunterooo]

That right there. And then they get all pumped up by their professors telling them "stay in school, you'll get a high paying job when you graduate" and then when they graduate they get some low paying job and they're thousands in college loans and they're wondering why they didn't get the job their professors said they were gonna get.

So true, I can relate.....

 

[pinero61]

I'm a college dropout, and now I make substantially more (2-3x) than I ever would have if I would've finished out that engineering degree. Now, I take classes on my time off to further my career.

Most of my friends that did go college first are landing 30-50k dollar a year jobs w/ the same amount in debt from student loans.

 

[Tamadrummer88]

I'm a college dropout, and now I make substantially more (2-3x) than I ever would have if I would've finished out that engineering degree. Now, I take classes on my time off to further my career.

Most of my friends that did go college first are landing 30-50k dollar a year jobs w/ the same amount in debt from student loans.

What do you do for a living?

 

[pinero61]

What do you do for a living?

I'm a Cheif Electronics Technician on a tender rig for Atlantica Drilling. I work 28/28 out of Congo.

 

[Tamadrummer88]

I'm a Cheif Electronics Technician on a tender rig for Atlantica Drilling. I work 28/28 out of Congo.

Ah, the oil industry. I read about that and its a booming industry down south. Pays a ton of money for no college degree.

 

[kulfyur]

For some reason my generation (mostly the ones born in the 90's instead of the 80's) have this entitlement attitude. They expect everything to be handed to them without working hard. Lots of college students now have that mentality of "heres my degree, now give me a high paying job with all the benefits, company car, corner office, etc" without having any real world experience but just staying in school. I had friends like that where all they did was study, no part time job, parents paid for everything, bought them a NEW car, and when they graduated they were thousands in debt, no work experience, and they were depressed when all they could find was jobs that paid either minimum wage or slightly higher because thats all they were qualified for.

I always plead to the younger set to get a part time job in college, choose your major wisely, don't drink the Kool Aid your professors are dishing out, and always work hard for what you want. Sadly its falling on deaf ears.

Did you go to college? What do you do? How much do you make (if I may ask)

I'm a college dropout, and now I make substantially more (2-3x) than I ever would have if I would've finished out that engineering degree. Now, I take classes on my time off to further my career.

Most of my friends that did go college first are landing 30-50k dollar a year jobs w/ the same amount in debt from student loans.

This is what I've noticed a lot of and this is also where I sometimes think I went wrong with the 4 year instead of the trade school. Then I remember the other opportunities I'm open to with my career choice.

May I ask how old you are now and when you dropped out?

 

[Khyber]

most places could care less what your degree is in as long as you have a piece of paper that says you went to high school 2.0 for 4 years.


i'm 29 and self employed, don't use my degree technically, and I have vowed to never work for anyone again.

but unless an 18 year old is working multiple jobs and not going to school I see no way they could afford a 40k car/insurance for it, unless they live at home and have zero bills but the mustang....but being 18 and spending that kind of money on a depreciating asset is a bad idea.

 

[stoli]

I was out with my daughter today, and we passed a new V6 Mustang, and it was being driven by some 16 year old (looked like 12), and his 3 buddies, this kid has really nice parents.... I'm assuming it's his car. I wish I had parents like that when I was teenager, I didn't get my first car until I was 18, and I bought it. Of course I could be wrong, but judging from the neighborhood I was in, I'm probably not. :headbonk:

Or maybe it was his dad's car and he was just driving it.

Im barely 18 and I've had a Subaru BRZ, 2015 WRX STI, and now a 15 GT. You can have anything you want as long as you work for it.

Barely 18 and and nearly 100k in cars and a ton of depreciation flipping them that quickly and you did it all yourself? Somehow i find that questionable. How'd you even enter into a contract @ 16 or 17?

 

[MagneticA]

Some have, some have not.
The problem I see is that those who are given tend to have a skewed sense of reality and lose touch with a majority of middle America. Not the end of the world, of course, but can be a hindrance if you're unable to continue that life style when you step out of your family's home and on your own.

 

[evo8904]

Im barely 18 and I've had a Subaru BRZ, 2015 WRX STI, and now a 15 GT. You can have anything you want as long as you work for it.

Did you buy those or did your parents help? I ask because there is a lot of negative equity in trading new cars like that and it is a horrible financial decision. At 18, save your money and put it towards investment properties. Example, I just picked up a duplex that has 3 bedroom on each side for $30k. My profit from that $30k investment is $1200 per month.

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