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[quote author="usctrojanman29" date=1214980575]

Oh don't get me wrong Stepping Up because I drive a Honda Accord. I picked it up last year as an 06 with only 10k miles for $16k and couldn't be any happier (especially since I'm getting around 30mpg). My previous car was a 99 Honda Accord with 229k miles on the clock and still running strong. Some of those residential loan officers/real estate agents were living it up and now are hurting so I'm sure here have been a few repos. Live by the sword, die by the sword!</blockquote>




Please tell me your kidding.

Bro, delete that post before anyone sees it.
 
[quote author="tenmagnet" date=1214953634]Bix,



Beautiful couple, great looking pic my man.

Is that a three-button tux?

Looks great with the black vest, makes your tie really pop.

Very Nice!

You guys look very much in love

*Sigh*</blockquote>


Its one of my ballroom tuxes, although to really make work well I would need tails.... But i'm not quite a tail type of guy.

Well, we only got married after 6! years of waiting.... (ha ha - look around nervously)....



-bix
 
[quote author="tenmagnet" date=1214981658]

Please tell me your kidding.

Bro, delete that post before anyone sees it.</blockquote>


trust me, his weekend car is no joke.



[quote author="ipoplaya" date=1214980143]

Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>


Err...uh...when I was 1099 I could write off more of my lease... Now I guess I can't really deduct it...so you are correct.



If you have any suggestions on <strike>commiting tax fraud</strike> creative tax writeoffs, let me know!
 
[quote author="ipoplaya" date=1214980143][quote author="25w100k+" date=1214633447]

And how do I afford that 500 a month car payment?</blockquote>


Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>
Get rid of the car payment.
 
[quote author="25w100k+" date=1214985288][quote author="tenmagnet" date=1214981658]

Please tell me your kidding.

Bro, delete that post before anyone sees it.</blockquote>


trust me, his weekend car is no joke.



[quote author="ipoplaya" date=1214980143]

Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>


Err...uh...when I was 1099 I could write off more of my lease... Now I guess I can't really deduct it...so you are correct.



If you have any suggestions on <strike>commiting tax fraud</strike> creative tax writeoffs, let me know!</blockquote>


Mortgage interest! :) On your income as a single person I'd bet that you are itemizing just because of state income tax.
 
[quote author="tenmagnet" date=1214981658][quote author="usctrojanman29" date=1214980575]

Oh don't get me wrong Stepping Up because I drive a Honda Accord. I picked it up last year as an 06 with only 10k miles for $16k and couldn't be any happier (especially since I'm getting around 30mpg). My previous car was a 99 Honda Accord with 229k miles on the clock and still running strong. Some of those residential loan officers/real estate agents were living it up and now are hurting so I'm sure here have been a few repos. Live by the sword, die by the sword!</blockquote>




Please tell me your kidding.

Bro, delete that post before anyone sees it.</blockquote>


I don't know, but a lot of humble wealthy people get there with this strategy.
 
<em>"Was everyone else surprised by what the true (or so we think) No_Vas looked liked? How about the pictures of IR?s kid picking strawberries"?



"Maybe just for fun, those of us who have not met others, post how we envision other characters here"?</em>



Stepping, I think you meant to say bix ! (Although No_Vas looks nothing like I expected either) !



Here is what I think you look like: (I bet bk would be really good at this)



<img src="http://missandi.smugmug.com/photos/219904101_4XSYn-S.jpg" alt="" />
 
[quote author="25w100k+" date=1214985288][quote author="tenmagnet" date=1214981658]

Please tell me your kidding.

Bro, delete that post before anyone sees it.</blockquote>


<strong>trust me, his weekend car is no joke.</strong>



[quote author="ipoplaya" date=1214980143]

Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>


Err...uh...when I was 1099 I could write off more of my lease... Now I guess I can't really deduct it...so you are correct.



If you have any suggestions on <strike>commiting tax fraud</strike> creative tax writeoffs, let me know!</blockquote>
shhhhhhhhhhh
 
[quote author="Trooper" date=1215001955]<em>"Was everyone else surprised by what the true (or so we think) No_Vas looked liked? How about the pictures of IR?s kid picking strawberries"?



"Maybe just for fun, those of us who have not met others, post how we envision other characters here"?</em>



Stepping, I think you meant to say bix ! (Although No_Vas looks nothing like I expected either) !



Here is what I think you look like: (I bet bk would be really good at this)



<img src="http://missandi.smugmug.com/photos/219904101_4XSYn-S.jpg" alt="" /></blockquote>


Was no_Vas kidding when he posted the picture of the blonde guy with the smart looking specs? BK has seen a photo of our ugly house, so I'd be scared to think of who he imagines could live in this thing!
 
[quote author="awgee" date=1214993655][quote author="ipoplaya" date=1214980143][quote author="25w100k+" date=1214633447]

And how do I afford that 500 a month car payment?</blockquote>


Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>
Get rid of the car payment.</blockquote>


Better yet, ditch the car it?s a lowly 3-series.

That's a high school ride.

(Smiley)
 
[quote author="awgee" date=1214993655][quote author="ipoplaya" date=1214980143][quote author="25w100k+" date=1214633447]

And how do I afford that 500 a month car payment?</blockquote>


Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>
Get rid of the car payment.</blockquote>


I should pay cash for a depreciating asset?
 
[quote author="25w100k+" date=1215048530][quote author="awgee" date=1214993655][quote author="ipoplaya" date=1214980143][quote author="25w100k+" date=1214633447]

And how do I afford that 500 a month car payment?</blockquote>


Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>
Get rid of the car payment.</blockquote>


I should pay cash for a depreciating asset?</blockquote>
You should pay interest on a depreciating asset?
 
[quote author="tenmagnet" date=1215040366][quote author="awgee" date=1214993655][quote author="ipoplaya" date=1214980143][quote author="25w100k+" date=1214633447]

And how do I afford that 500 a month car payment?</blockquote>


Dude, you have a down payment fund AND a car payment, i.e. you are earning little after-tax interest income and paying non-deductible interest expense?</blockquote>
Get rid of the car payment.</blockquote>


Better yet, ditch the car it?s a lowly 3-series.

That's a high school ride.

(Smiley)</blockquote>


Ten

What are you driving ? A 7-series or an M ?



Personally the idea is no debt. Car payments and leases are debt.

Unless you lease the car from your own corporation.
 
[quote author="awgee" date=1215053944]

You should pay interest on a depreciating asset?</blockquote>


Its not 'debt' in the traditional sense that I coulnd't afford the car outright. A car is a neccessity for me and BMW subsidizes the lease payments for a variety of reasons I won't go into here. I'm also paying a very low money factor. I'm suprised you don't understand the concept of leveraging cheap money. Sure I'm paying marginally more then I would for the price of a cheaper car, without paying the opportunity cost of tying up thousands and thousands of dollars.



And perhaps i'm paying a bit more than I would be if I would have leased a new honda, but I'm ok wtih putting 100 dollars of my 'disposible income' towards driving a car that lets me have some fun on the twisties every weekend.
 
Consider this as a possibility: None of the financial companies are in trouble because they invested in mortgages. They are all in trouble because they leveraged cheap money.
 
[quote author="bltserv" date=1215055628]

Ten

What are you driving ? A 7-series or an M ?



Personally the idea is no debt. Car payments and leases are debt.

Unless you lease the car from your own corporation.</blockquote>


Neither of those thankfully!

Much higher caliber, it?s definitely on par and in-line with your ride.
 
[quote author="awgee" date=1215058044]Consider this as a possibility: None of the financial companies are in trouble because they invested in mortgages. They are all in trouble because they leveraged cheap money.</blockquote>


I'm not an economist, but for the sake of discussion, I'll counter with that it was the fact that they were swapping <I>fradulent debt</I> that caused their troubles, not leverage in it of itself.
 
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