how do you afford it?
Club Member
Joined: Apr 2007
Posts: 69,901
Likes: 18,590
From: South Florida
Great question. Very interesting responses.
Starting riding late me my life and it is preceded with working my *** off 50-60hrs a week and too many years at 70-90 hrs a week all in my own business.
If u do the math, I worked enough to have retired twice.
Save like there is no tomorrow, NO debt, everything is paid for in cash, no stupid spending hardly ever ate out but now it is play time.
Every 3 yrs I would get a new bike since I run over 100,000 miles in 3 yrs on average. This year the prices are so high and I do not have that much mileage (2013 with only 52K miles) I may just get the extended warranty since the new bikes seems to have jumped the prices a LOT. Do not want to feel I am being taken advantage of.
Back to my point, sorry, keep debt down, invest heavily, work yer *** off. That is my answer. The returns are fantastic!
BuzzCap7
Starting riding late me my life and it is preceded with working my *** off 50-60hrs a week and too many years at 70-90 hrs a week all in my own business.
If u do the math, I worked enough to have retired twice.
Save like there is no tomorrow, NO debt, everything is paid for in cash, no stupid spending hardly ever ate out but now it is play time.
Every 3 yrs I would get a new bike since I run over 100,000 miles in 3 yrs on average. This year the prices are so high and I do not have that much mileage (2013 with only 52K miles) I may just get the extended warranty since the new bikes seems to have jumped the prices a LOT. Do not want to feel I am being taken advantage of.
Back to my point, sorry, keep debt down, invest heavily, work yer *** off. That is my answer. The returns are fantastic!
BuzzCap7
Road Captain
Joined: Feb 2008
Posts: 643
Likes: 9
From: Georgia
For me, the first 40 hours a week pays the bills and of course the ex-wife has to get her cut. The next 10-15 hours of overtime a week goes to the toys and extra curricular activities. I save a ton and live comfortably but well within my means and almost have all my debt paid off. As soon as my daughter gets out of school in a few years, I can upgrade the house, the truck, and the toys. Until then, modestly I shall live. And single. Girlfriends are cheaper to get rid of as opposed to wives.
Most everyone I know with the big houses and fancy cars and sweet bikes and boats are financed out the wazoo. Only a few actually make the coin to afford their lifestyles. I had one friend who ran his business into the ground and then watched the banks come and take everything he had. Two houses, two boats, truck, rental property, commercial real estate, construction equipment, everything. His soon to be ex-wife got the rest when he couldn't afford to keep the smile on her plastic face and pay her credit cards. It was a good thing he had a girlfriend who took him in.
Most everyone I know with the big houses and fancy cars and sweet bikes and boats are financed out the wazoo. Only a few actually make the coin to afford their lifestyles. I had one friend who ran his business into the ground and then watched the banks come and take everything he had. Two houses, two boats, truck, rental property, commercial real estate, construction equipment, everything. His soon to be ex-wife got the rest when he couldn't afford to keep the smile on her plastic face and pay her credit cards. It was a good thing he had a girlfriend who took him in.
Seasoned HDF Member
Joined: Jan 2011
Posts: 28,842
Likes: 16,583
From: Wisconsin, USA
If you live to an old age, in a lot of debt, don't worry. The nanny government will steal from people like me who drive old bikes and cars, and saved a nice retirement. We will be told we don't deserve it, and it is unfair.
Last edited by Ron750; Feb 20, 2015 at 04:01 AM.
Road Master
Joined: Jan 2008
Posts: 772
Likes: 4
From: ohio
I try not to concern myself with how others live financially, because sometimes it will drive you crazy trying to figure it out. We (wife and I) aren't "rich", yet we have more than others around us. We only take on what we can afford. Kids and house come first then the rest. I try and do my upgrades and spending when there is a windfall like tax refund season or around the holidays when gift cards and cash are around.
Cruiser
Joined: May 2014
Posts: 155
Likes: 2
From: Peoria AZ
It truly is about living within your means. My wife and I have been investing, saving since we were first married (back in 2004) We're 35 and 37 years old respectively. We've both been to college and graduated with respective degrees and work hard for what we make. While we're not "rich" by any standards, we live well within our means (no car payments, no kids to pay for, no college debts to pay off) We only purchase things that we can either:
1. Pay with cash
2. Pay on our credit card (earn points/miles) and pay the entire bill off next month
Living debt free makes things so much easier and knowing we have automatic withdrawals each month going into a retirement portfolio gives us peace of mind. Heck, most of the time we forget that the money goes in because we've gotten so used to it. I certainly advocate living in the now, however, I also advocate spending wisely. A wise man once said "Today's history, tomorrow's a mystery"
1. Pay with cash
2. Pay on our credit card (earn points/miles) and pay the entire bill off next month
Living debt free makes things so much easier and knowing we have automatic withdrawals each month going into a retirement portfolio gives us peace of mind. Heck, most of the time we forget that the money goes in because we've gotten so used to it. I certainly advocate living in the now, however, I also advocate spending wisely. A wise man once said "Today's history, tomorrow's a mystery"
Outstanding HDF Member
Joined: Mar 2008
Posts: 2,306
Likes: 39
From: Everywhere
Debt doesn't transfer to your family anyway, when you die. Your creditors just have to eat it. If you live to an old age, in a lot of debt, don't worry. The nanny government will steal from people like me who drive old bikes and cars, and saved a nice retirement. We will be told we don't deserve it, and it is unfair.
Outstanding HDF Member
Joined: Aug 2010
Posts: 2,386
Likes: 15
From: The City Of New York
As your estate is settled after death, any remaining debts you owe are paid out of the value of your estate. If debt greater than estate value, debts are paid in equal percentages until the money runs out, then forgiven. If estate is not liquid (more possessions than cash) the debt is still paid off based on the value of the possessions so someone has to cough up the cash until possessions can be sold.
Outstanding HDF Member
Joined: Mar 2008
Posts: 2,306
Likes: 39
From: Everywhere
Works to a point. My grandfather was a high end antique dealer ( not a junk collector ) who specialized in clocks. When he died, we discovered little brass tags attached to many items that said "property of (relative's names)". We simply collected what was already ours. The problem today is so many are "cash poor".
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Stellar HDF Member
Joined: Sep 2006
Posts: 3,236
Likes: 95
From: lancaster, pa
Oh its easy, just set up a corporation,get awesome tax breaks and pay foreigners pennies a day for labor...then donate some of the profits to those fine folks in washington...you will have plenty left over for your bike.
Seasoned HDF Member
Joined: Jan 2011
Posts: 28,842
Likes: 16,583
From: Wisconsin, USA
http://www.foxbusiness.com/personal-...t-obligations/
The debts will be taken out of the estate, but they can't force heirs to pay. Especially if there are none. The creditors have to eat it.
I don't have a problem when someone in their income earning years dies and the debts are forgiven. Going into debt when you are old, and know you aren't going to repay it, is basically stealing.
The debts will be taken out of the estate, but they can't force heirs to pay. Especially if there are none. The creditors have to eat it.
I don't have a problem when someone in their income earning years dies and the debts are forgiven. Going into debt when you are old, and know you aren't going to repay it, is basically stealing.