Quote:
Originally Posted by Perfectlap
10% of your net worth in one car? Not too smart no matter how rich or poor...
Odds are if someone's making those kinds of decisions they're probably making other bad decisions elsewhere (bad investments, over-leveraging, etc.) and won't be rich for too long. Plunking 10% of your dough into a single car? LOL... not even if I had it. 
As one top 0.001% rich person once told me (from a family that was at least five generations outrageously rich),
"it's not about what you make, it's about what you keep." |
I get the feeling you are out of touch. Think about the income of the average worker and the cost of new cars that can be $20-$50k. At ten percent of their income that would suggest they are earning $200k-$500k. That's way above average income for most folks. But, that's what they have to pay to purchase a new car. People are spending way more than 10% of their income to buy a car everywhere...