what kind of lifestyle could you have off this..

[Times Roman]

$200k isn't really THAT much cash nowadays. Most people who make that money will continue to buy cars and houses they cannot afford and the payments will cause them to still be flat broke. The key to having a good lifestyle isn't about how much money you make, it's about how much money you save.

What most people don't understand is that at $50-80k of income, you're fully capable of living a fantastic lifestyle. In the interim, you have to save as much as you can and then invest in solid opportunities.

I've known guys that make a bundle, yet are stupid with thier money. Huge mortgages, expensive cars with high monthly payments, expensive trips and vacations. They were living pretty much paycheck to paycheck. What's the point of all that money if you are still heavily in debt?

Here's what I believe. Debt robs you of your freedom. You become a slave to it, and and quite often it puts you in a position of being one or two paychecks away from insolvency.

Fortunately for me, i saved some cash, and now I have the freedom to decide if I want to work or not. Right now, i choose not to work, and probably won't for a few more months. If I want to hop on the harley and haul ass and go visit my mates, I can do that any time I want. Except for my house (unfortunately), I don't have any debt, giving me the freedom to do alot of things I ordinarily wouldn't if I had large debt and had to go back to work to service that debt.

But I don't mind driving a 14 year old car, or riding a 6 year old harley. I don't wear bling, my reading glasses are from the bargain bushel at a local drug store, and I don't go out to eat that often.

One of the fellas I met overseas looks at it differently. He purchased a 6k sqft home in TX. I'm sure he put a couple hundred grand down, but undeniably he has a large mortgage. He dropped another hundred grand to put in a very luxurious rockwall pool, complete with waterfalls and beach landing, and a kick asss hot tub and sauna. Outdoor wet bar is partially enclosed with referigerator, kegorator, and incredible stereo system. The market stalled and now his MV is less. Every week, his wife gets her hair, finger/toe nails done. I believe he does too when he's not overseas. He drives around in an incredibly expensive car, yes, making payments on it. This guy just burns through cash like 2012 is the end of the earth. yes, he makes a boat load of cash, but there is no guarantee that it will continue. If his income stream falters, then what? bankruptcy?

[Honkey_Kong]

I've known guys that make a bundle, yet are stupid with thier money. Huge mortgages, expensive cars with high monthly payments, expensive trips and vacations. They were living pretty much paycheck to paycheck. What's the point of all that money if you are still heavily in debt?

Here's what I believe. Debt robs you of your freedom. You become a slave to it, and and quite often it puts you in a position of being one or two paychecks away from insolvency.

Fortunately for me, i saved some cash, and now I have the freedom to decide if I want to work or not. Right now, i choose not to work, and probably won't for a few more months. If I want to hop on the harley and haul ass and go visit my mates, I can do that any time I want. Except for my house (unfortunately), I don't have any debt, giving me the freedom to do alot of things I ordinarily wouldn't if I had large debt and had to go back to work to service that debt.

But I don't mind driving a 14 year old car, or riding a 6 year old harley. I don't wear bling, my reading glasses are from the bargain bushel at a local drug store, and I don't go out to eat that often.

One of the fellas I met overseas looks at it differently. He purchased a 6k sqft home in TX. I'm sure he put a couple hundred grand down, but undeniably he has a large mortgage. He dropped another hundred grand to put in a very luxurious rockwall pool, complete with waterfalls and beach landing, and a kick asss hot tub and sauna. Outdoor wet bar is partially enclosed with referigerator, kegorator, and incredible stereo system. The market stalled and now his MV is less. Every week, his wife gets her hair, finger/toe nails done. I believe he does too when he's not overseas. He drives around in an incredibly expensive car, yes, making payments on it. This guy just burns through cash like 2012 is the end of the earth. yes, he makes a boat load of cash, but there is no guarantee that it will continue. If his income stream falters, then what? bankruptcy?

My old man brought my brother and I up to know that you don't make any major purchases like nice cars or expensive houses unless you got enough money already in the bank to live for a year without any income. That guy loses his job for whatever reason or gets majorly ill and can't work, they're seriously fvcked.

And you know what, you really don't have to live without or drive around in beat-up old cars either. It's just a matter of planning out and saving up for the things you want. You might have to wait awhile to get it, but you'll eventually get it. These people who buy stuff on credit, those debts keep growing until people are at the point where they can't afford to go to a nice restaurant anymore or retire early or even use their vacation time to go on a nice trip. Eventually you can't buy anymore stuff and all you can do is make the minimum payments.