Sad, but I think I’m out

[FlyingPilot2012]

How about bringing back basic personal finance education to schools and universities so that more people can help themselves to a better place.

Fully agree.

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[Millbarge]

Not another car forum thread that has devolved into a financial advice debate among armchair economists

ok but how long could a thread about someone withdrawing their reservation go on anyway.....

 

[justinkitswa]

ok but how long could a thread about someone withdrawing their reservation go on anyway.....

Infinitely?

 

[tgrick]

The R2 is a substantial investment, if we can call it that. I decided to look at other trucks for giggles and I was flabbergasted to see the price on a FORD Shelby F-150. It was priced 100K MORE than the R2. Stunning really how expensive transportation has become.

 

[Mos Eisley]

Infinitely?

Not technically, since our sun and the earth will give up in 1 to 1.5 billion years. So, if we never get off this rock, I'll take the under.

 

[VandalSibs]

ok but how long could a thread about someone withdrawing their reservation go on anyway.....

The usual over/under bet on this here forum is 26 pages. Or at least that's the joke that's developed recently....

 

[MaskedRacerX]

The usual over/under bet on this here forum is 26 pages. Or at least that's the joke that's developed recently....

Geez, we're only at 14. Wait, I have an idea ...


When is the R2 getting Car Play?

 

[Mos Eisley]

Geez, we're only at 14. Wait, I have an idea ...


When is the R2 getting Car Play?

 

[mkg3]

Can't say I care how many there are, but I assumed you did as you mentioned it in multiple posts

I only brought it up to say that there are more millionaires than one thinks. As people age, there is more likelihood that net worth grows, albeit not always. So I don't think its all that big of a deal to be a new worth millionaire.

 

[mkg3]

The usual over/under bet on this here forum is 26 pages. Or at least that's the joke that's developed recently....

Kalshi?

 

[VandalSibs]

Kalshi?

Please don't make me throw up in my mouth......

Maybe there's a secret pool being run by forum members?

 

[tivoboy]

I only brought it up to say that there are more millionaires than one thinks. As people age, there is more likelihood that net worth grows, albeit not always. So I don't think its all that big of a deal to be a new worth millionaire.

It’s still a bit of a misnomer or misperception though.. of the roughly ~ 24M individuals who are “millionaires” 63% land there mostly from household wealth value, not assets outside a primary residence.

The number of liquid millionaires (cash, brokerage, 401Ks etc) is <8M. That’s ~ 2.5% of the popluation.

And the majority of household wealth “millionaires” skews HEAVILY towards an older population, with the median age (50% above 50% below for those foreign language majors in the audience) of those millionaires >62 Years of age.

With >90% of those millionaires >50 and only 10% <50.

 

[tivoboy]

Based on average annual inflation rate?

The thing is, almost nothing goes up like the "average annual inflation rate". For an example, average new car price in 2016 was ~$34K and today its $52K or increase of 53% from 10 yrs ago. Other things have gone up less than the annual inflation rate.

Another data point, since you're in CA like myself, is the average home prices. Statewide it was $440K in 2016 and today is $930K more than 2x.

So from the practical point of view, maybe it not $200K, 10 yrs ago but certainly lot less than $720K

Technically the state of CA doesn’t’ even think it was 2x, more like 1.8x. ($544 to $976).. but rounding WILL get you there.

 

[mkg3]

It’s still a bit of a misnomer or misperception though.. of the roughly ~ 24M individuals who are “millionaires” 63% land there mostly from household wealth value, not assets outside a primary residence.

The number of liquid millionaires (cash, brokerage, 401Ks etc) is <8M. That’s ~ 2.5% of the popluation...

This is truly funny. We're back to where I originally stated in post #177:

Couple of things on this though... We all need to live somewhere so equity of the primary house should not be counted unless one sells it and rents somewhere. Any withdraw of equity from one's primary house is a liability/debt so its a minus.

Don't know where your data came from (some AI perhaps) but the Fed Reserve data shows different. The top 10 percentile holds less real estate as a part of their total net worth than the below 90 percentile. In other words, there should be more than 8 million people that are liquid millionaires.

 

[Mos Eisley]

Maybe there's a secret pool being run by forum members?

There was, but there was an algae problem... and the paint kept peeling...

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