Buy a low mileage toyota Camry and a modest house, and get a girl who does not want material things. The type of people who are telling you all that, are people who should be avoided.

Best way to flex is being low-key but everyone knows you make bank and put those flashy ****** Kims and Abdullahs in their place.

Brb rock a 10 dollar white tee drive a 2014 civic and mog everyone wearing a 100 dollar G shock knowing you have other nice watches and the ability to buy what you want but decide not too.

At least the latter is a lot more blunt about it rather than beating around the bush. First step to recovery is acceptance

You have to buy expensive things if you have money because it shows women that you're also willing to spend it. If she knows you have money but not willing to spend then what use are to her?

Not sheriff srs

i take it your job doesnt have to do with money. Here's a secret only the real estate brahs of the world know, you save negative money a month renting vs owning. The person that owns your apartment/house/condo you're renting is paying a mortgage in the ballpark of 30-40% less than you're paying for rent. On top of that they when they sell that place one day they will make every dollar back + the increased value of the property. So over the life span of say a 200k house they are making 260,000 minimum off of you living there. Meaning without that value even going up their ROI will be $460,000.


$1000 a month for 5 years rent = $60,000 for a roof over your head. $1000 mortgage a month for 5 years = $60,000 - the $20,000 minimum you'll make back when you sell it which = $40,000 total. If property values are going up enough that 20,000 return could very easily go from 20,000 to 30,000 up to even 40,000 back into your pocket once sold. Another benefit is how easily you can make every dollar put into a house worth $2 more. Slap another bathroom in for $10,000 and the value of your house is gonna go up 20k.

All i'm saying brah is you have a stable job and live in an area with a lot of jobs in your field the earlier you build equity the better you are. And do not for a second think that real estate is a poor investment choice when you live in any first world country.

My job has literally everything to do with moneyYou can’t conflate the two things. What someone else would make off you and what you make. There’s a couple things. 1) you don’t have to pay 1000 a month for rent depending on where you’re living. But for a nice place it’s going to be around 1k. If you are buying around a 400k house with a 5% down of $20k down payment that’s 20k you don’t have today and you’re paying a mortgage close to $2000 per month. It’s worth repeating but that’s 20k less you have today and an extra $1000 per month you are dropping on a mortgage. Second with bidding good luck getting a home in the gta near that price anymore. You’re looking at a minimum of $500k, which is closer to a down of $25k and a monthly payment of $2500 I would imagine on a 25 year amortization. Even 500k is very conservative.

2) it’s worth reiterating that’s money you don’t have today. And might need a loan simply to manage your downpayment. Often lost in all this is that money is for spending. If you are in your prime instead of living your life you are putting every penny you have into being super rich in the future when you’re balding and likely not as full of energy. So that’s qualitative. Then you also have to consider the opportunity cost of what return you would have had you invested that money into something stable that only rises over the long term like the S&P500.
3) The issue with this discussion is that people aren’t looking at the underlying fees that add up and are just looking at appreciation. I posted a link earlier that did a very comprehensive job breaking down the costs of home ownership. You have to account for all of those in your calculation.

And a house isn’t an investment if you plan to live in one your whole life. If you want to sell it in 5 years to enjoy your gains sure you can call it an investment. Then you have to do the math and crunch the numbers, and in the opportunity cost include the return you get from investing that money and assign a quantitative multiplier to the qualitative factors related to being house broke/not being able to spend that money in other ways. If you derive more value from living in a house that it offsets all that it’s worth it to buy a home. Key word is home though.

i dont agree with the car part but equity in a home is way smarter than renting, if you dont see that, just keep paying my mortga... i mean keep renting

this! I also wear sweats and flip flops to mogmax the fakers

hi op

i can definitely relate since im from the subcontinent

My dad's house is paid off which is quite a big thing since i live in sydney, and my father runs a business with a loan of around 200k remaining. He is 60 and the reasonable thing to do would be to pay off the business loan, and pretty much will have 2 fully owned assets with no loan repayments overhead

but now he wants to buy a new house through taking another loan lol and im sure 99% of it is driven by the motive of wanting to feel like he is successful with a new big house

Kind of a workaholic so he doesnt mind the grind in a sense, but i just think in awe about him willing to want to work for an extra 10 years just to pay off a fukn house that they never required

i dont really care much about impressing other people through materialistic thing anyways, when youre sub 12% bf, well above average facial aesthetics and 5'10+ ur already a rare breed brah.

I guess if i didnt have that, I would look into other forms of coping? With that being career maxing.

I already make sure to take my finances and career progression srsly, but i dont put in that extra 10-20% of effort if that makes sense. If i felt like i had do something to make myself feel more accomplished, id probably do that

But the brutal red pill is, looksmaxxing is a lot more credit than people are aware of.

At the end of the day, most people value sex and attraction very highly. If your in shape when youre over 30 while the wives of other husbands have let themselves go, youre the one they will be thinking of at night time boyo

this reads like someone fresh out of their first econ class.

renting will always be more expensive than owning otherwise the person that owns that property isnt making any money....

if you live somewhere that an entry level house is 500k then you sure as hell aren't finding an apartment for less than 1.5k unless its a box in the hood. Realistically you're gonna be looking in the 2-3k range which again is going to be on par or more than that entry level house or condo you'd be able to start building equity on. And if we're looking at it over time and take raising costs into effect my mortgage is going to cost the exact same today as it will 10 years from now. Your rent is gonna keep getting cranked up yearly if you live anywhere decent. Your 2k this year will be 2.2k next year. If the thought of a surprise "here's $2400 you're not gonna get to keep this year" doesn't piss you off i don't know what will.

Again brah... the underlying fees equate to less money burned than renting over any halfway significant period of time or the person that owns that property would be losing money by owning it, which i'll tell you right now doesn't happen unless a tenant punches a hole in every wall, takes a hammer to the floors, throws some dynamite on the plumbing and lights the furnace and AC on fire, and they dont have insurance on the house.... You are not out smarting real estate investors by renting their properties, they win 100% of the time.

And even if you plan on living in it til you die it makes infinite more sense to buy it than to rent it I don't even know how this is a toss up of an option in your head.

And you keep talking about having the money to use now, if you want to burn it and live lavishly you do you, but I have never met a single successful person who didn't tell me the exact same advice "start saving and investing as soon as you can"

I dont get not wanting to move out/buy a house though since you can always buy to let or put it on rent if you need to move back home in case of financial hardship

Just attacking me like a redditor won’t validate your points bro. And apartment isn’t the only option although you can certainly get one for $1000. Once again making blanket statements isn’t accurate because individual circumstances and decisions and economy influence the financial feasibility of how worthwhile one option is over another. As for the underlying costs you can’t just look at them compared to the cost of renting individually you have to consider however much money you save today and every month and what you do with that money. You don’t seem interested in devising a formula, looking at the actual possible numbers, assigning values based on your own expectations, and then accounting for qualitative factors. Just making a statement that buying a house is more worthwhile than every other alternative isn’t how it works. There’s a difference between assigning value to the qualitative factor of having money today and spending it all and living totally lavishly. You have to balance the understanding that money is for spending and the benefits of investing it. You don’t take it 6 feet under with you. That’s hella different than saying to burn it all. Regardless you can invest money in actual more liquid investments. I agree that if you plan on living in a house your whole life it’s cheaper to buy now than tomorrow but in that case it is literally not an investment and doesn’t account for what you do with your money today via investing and qualitative factors which you have to assign a value to.

I’d post a model of my personal breakdown and forecasts including the opportunity cost (which isn’t 100% consistent with another person) but you seem to have an issue with that idea and don’t even see the importance of that and see it as a binary discussion. If you’re more interested in just taking shots at me, my career, or my education for expressing a different opinion it’s not worth the time. But I’ll ask you actually consider reading arguments on both sides to form a more nuanced understanding of the pros and cons of each under various alternatives and see under which circumstances what option is more fruitful. If that’s just irrelevant to you then we can’t see eye to eye on the issue which is fine. But try to do something else besides taking shots at me. I posted an article earlier that is an amazing starting point. Then adjust based on variance in prices and costs and add on opportunity cost to that which will vary.

nothing I said could possibly be seen as "taking shots" and make you this defensive except for a lack of confidence in your own line of thinking.

i dont think you got anything out of anything so i typed so no point in trying to explain any further. Hope your plan works out brah

The instigators seek to justify their own life decisions by encouraging you to make the same choices they made. By having you agree and acting accordingly, they're validating that their choices were optimal.

See beyond that. Do what YOU want. You can be in your 20's, or 30's, without a mortgage weighing on your back. Or perhaps you can save up enough to fully front the cost of a house on your own, all while renting in the mean time. As for vehicles, if it gets you from A to B without any issues, who gives a phark. Anyone paying $50k on a car they use solely to drive to work and buy groceries is an idiot.

Thanks brah. Opening with you must not work with money or you must be taking an introductory Econ class shows a very passive aggressive attitude which is why I called it out. It’s a lot lazier to just attack the person’s character to convince yourself you’re right rather than understand the points that led them to the conclusions they did. It comes from insecurity in understanding of a topic and an unwillingness to actually have a discussion and take the easier way out. It’s too prevalent on reddit so let’s not drag it onto the misc. People often let their emotional biases and attachments prevent them from forming complete views on a topic and opening with attacks on character is the primary exhibition of someone who’s not actually interested in a discussion and isn’t viewing the topic with an open mind. If you’re gonna make a claim like buying a house is more worthwhile 100% of the time you should have the numbers to back it up, be well versed on the counter points, and shouldn’t scoff at the idea of someone highlighting some factors that would play into the equation which may swing it one way or another with “must have taken their first Econ class.” No, but if you don’t see the importance of that when doing any kind of comparison maybe an Econ class or two is in order. Notice how I didn’t assume your major or education? That shyt is just unproductive.

It's all about leveraging with low interest rates. Buy a house, get a loan off the house as an asset. Rent out both houses, stay on the top floor of one of them.

Imagine if someone other than "real estate brahs of the world" told him the average yield on rental properties is 6-8%, in very good cases 10% and that doesn't take into account inflation, annual maintenance costs, unexpected repairs, rental loss between tenants, possible marketing/management company costs etc.
It's pretty obvious you're way more thoughtful in your replies and willing to change your mind should the relevant information be convincing enough. With that, due to my low level knowledge in the matter(besides owning only one rental) I'm out.

oh my goodness you really took this personally

good luck brah lmao

*folx

you bigot

Read through the entire thread... Fantastic convo's ITT. Reminds of the education/career/finance section where it's the only place in this entire forum where people talk sensibly.

Everything is relative to what you earn and what your expenses are... In a nutshell.

Typically you can't post about how much you earn on the misc, or anything nice because no one takes you serious and the jelly ones think you're a fraud... Anyway, getting a bit off topic with that.

The reason I quoted this sentence of this post is because it's so fukking spot on... So-Many-People fall for this stupid ass mistake... Let's call it 99.5% of people... I try to explain this to people and I get bertstared... People see my cars, and they get confused and think I'm a weirdo/strange when in fact they are the retarded ones... My philosophy is simple.. Why make payments on a mundane plastic $50K+ daily grocery getter/people mover? People spend and make payments and ridiculous **** cars well into the $100k range... If you're gonna make ANY payment on a vehicle, it should not be a daily driver unless you are a certified "CEO 10k a day".. Well not really 10k a day but you get the point... People flex in their ordinary mass produced people movers but the jokes on them... I personally only make payments on supercars... Vipers, Lambos, 911's, Ferraris, or any special purpose built vehicle... My daily will always be paid off title in hand. Make it something worthwhile of your choice.. The most my paid off daily will be worth is $15-20k MAX... Right now I daily a 4x4 V8 Toyota truck worth between $9k-$15k depending on your area. Title in hand, no payment... I make a payment on a 911 which I am trading in for another one soon.

I feel sorry for the person whipping an X5/BMW/Mercedes/insert overpriced massproduced SUV/Sedan thinking they're fly as fuk but then I MOGG them in a GT3 or 458... They pay anywhere from $700-$1200 a month for that stupid thing when they could buy a daily CASH and be making that kind of payment on something special which is an event to drive. At the same time, that stupid car they're making payments on depreciates like rocks while the supercar you're making payments on can maintain value or even appreciate in some circumstances. Many people hate on me when they see my cars that are on complete opposite ends of the spectrum.. Old ass toyota truck daily and supercars for fun.. Word spreads, gossip spreads and hate spreads. Little do they know the jokes on them and they're mad they don't know how to play the game... My bro just drove around his 2014 C4S 911 for two years, sold it, AND made 3K counting gas, payments and insurance expenses... Financed it with 0 down and got a check back for the sum that was left over after payoff. That's how it's done... Sometimes it pays to be a gearhead and not a snooty consoomer.

If you make payments on some yuppy luxury sedan. Hang yourself.

Honestly man. Thanks and that’s exactly it. I’m always open to legitimate critical discussion not surrounded around unreasonable binary claims and strawmans. Some blokes I just don’t understand why their minds work the way it does. All I implied to the guy was to have a discussion on why he’s making a binary claim on something that’s not a binary discussion. Brought up valid ways to analyze a problem along with good starting points for your calculations and then right to attacking fundamental common sense with economics class gig. Even the 6-10% returns are based around the “stonks only go up” assumption which is a hefty one to begin with.Good luck to you tooHonestly I think they do it because other ppl do it. Most ppl getting a new car aren’t doing it because they are passionate about driving. It’s just a keepingupwiththejones type thing. Ime chicks don’t care about cars that much anymore so long as you have one. Maybe the super high end ones are a different story but 99% of ppl aren’t driving a Lamborghini anyway. My boomer coworker used to tell me that back in the 80s it was a different ball game. Every chick was crazy over a Chad with a Ford Mustang apparently.