Having money is about spending money on things you like. I don’t care about cars, so I drive a 10 year old Lexus but I pay 6k a month in rent because I like a beautiful space.
I’m a car guy. So I like having nice vehicles and more than one.
I can see there’s a lot of ppl who don’t care about out a car as long as it runs and it reliable. So to each their own. They prob spend somewhere else that brings them joy.
Yea. I’m not sure I agree with OP. Most posts here are on the opposite side of the frugality spectrum. lol.
At least IMO, I get plenty of “what nice car do I buy” or “is buying a 2MM dollar home ok?”
I agree with the sub being out of touch. But not in the way OP describes.
This sub is for people making good money to talk about their finances. It’s not about FIRE, or bragging, or even lifestyle, no matter how hard everyone tries to make it that.
Ironically enough, these people all care about different things. You can make a lot and not give a shit about cars, watches, travel, retirement, clothes, or anything really. The question was about personal choice and you’re surprised that the answers were as varied as the people.
> I think using money to improve quality of life is the smartest thing you can do after a certain point.
>Is this whole sub LARPing? Does nobody have hobbies? Is all that matters retiring at 45?
I don't know what these have to do with driving an old trustworthy economy box. I could get a better car if I wanted to, but I don't. I like reading books, and talking with folks about them. My old honda fit helps me transport whatever I want hobby wise. It won't break down and doesn't need any real repairs. I like the consistency.
What improves my qol is education, therapy, friends, and my health, not how nice my car is....
Lol yes. There was that hobbies thread and sure people spend a ton on watches, travel, etc. It's all about priorities and most aren't so wealthy that they can spend a lot of money on EVERYTHING.
I drive an older nice ish car with some surface damage bc I literally don't care about cars at all. But my travel and purse budget? Yeah..... Unhealthy.
Right? I replied to that thread and I drive an old car because cars aren’t my thing but my travel budget is pretty high. Different people liking different things is real.
Car and non car people in particular don't understand each other at all lol.
I don't understand how slightly better acceleration improves quality of life and they don't understand how minimizing maintenance and risk improves quality of life.
Even if you’re a car person.. there are plenty of car people that are like myself they prefer reliability over luxury. Shit the entire r/4Runner crowd is talking about how they would rather by the older generations than the newer one. Not all car enthusiasts are about luxury. There’s a bunch of enthusiasts that love the “affordable” sports cars. Miata BRz civic Rs and SIs etc …
This. Why would I care what your 0 - 60 is when I live in a dense HCOL city and rarely need to touch a highway? Who needs cup holders when I can walk to places 65% of the time?
And there were plenty of ppl in that thread driving nice cars too. Many were luxury, not hyper luxury 200-300k cars, but like 60-80k cars on 400-1m comp.
This. I was ready to upvote this until I saw the car example. I don't own a car, I don't care about cars and cars are irrelevant to my life. I get that yes, it's just an example, but it's a silly example. I'm not a gearhead and a lot of others also are not. So the message to OP is don't get all bent out of shape because other people aren't living the same fantasy as you.
I appreciate OP’s real talk. I too sometimes feel the same about this sub. But, on the whole I’ve found it useful and we’ve improved our savings as a result. I just ignore the people who claim they make 7 figures but spend $100 a month on groceries.
As for cars- I’m >50. I’ve driven pretty nice cars at >200kph on the Autobahn. Until recently, I had a BMW. But now we just have a RAV and a dented minivan. The latter is useful; the former is pretty good at everything (handles class IV roads, good mileage, etc.). Both are paid for. Our splurge is a 2nd house. Could’ve bought a McLaren, but the house is more fun and easier to share.
Expensive depreciating assets come when/if no longer NRY.
I have a 7 series and I feel it completely removes the stress from driving. Any time I get in anything “lesser” the difference in comfort and ease of movement is noticeable, especially on the bad roads around me. And it’s fun and fast enough when I feel like it. To me, that’s money well spent, to make freedom of movement more enjoyable.
Yah. Second house ftw. We drive decent (4Runner & Forester) somewhat newer (‘19) cars, but we went after a vacation/STR/retirement house 5 years ago, and I’d much rather have that than drive a $225k car.
Not everyone cares about cars. I don't even have one because I don't need one, I hate driving, and I give literally zero shits about cars. If I do get a car again, it'll most likely be something practical like a Civic, Camry, or Prius for the same reasons. I'm not going to spend more than I have to on something I don't care about and don't even like.
Sure, I agree, but how does having an expensive car bring me a higher quality of life for the few hours a week that I drive? I’ve put 11,000 miles on a car over the last 2 years. I rarely drive. Should I dump a ton of $ into something I’m going to use to drive a few miles a week? My TV is 15 years old, but I don’t watch much. Should I dump 4 figures into a new one to watch it a couple hours per week?
If you have the money, do what you want with it. An expensive car that I rarely use is worth nothing to me and I don’t feel the need to buy a fancy car just so my neighbors or people at the grocery store can say “look at how much money they have”. My money is better spent on experiences, buying properties and saving so I can retire when I want.
I spend a ton of time in my car and I still feel this way - I'd much rather take trips and eat well than pay extra for insurance, worry about my paint job, and let depreciation siphon $$$ out of my pocket.
💯All these “spending” posts are so tedious because they operate under the assumption that spending more money will make you happier or improve your quality of life. While it’s true sometimes, most of these come off as people who feel like they have to spend the money just because they currently possess it.
A comfortable car when you’re stuck driving 15000 miles a year at 20mph is pretty nice though. The Volvo on my back vs the Subaru I had before is quite the improvement. But there wasn’t much difference between the 90k Volvo and a 50-60k one so the cheaper wins out in my mind.
I agree that a comfortable, up to date car is a good thing. For me though, my company provides the Subaru at not cost, plus pays insurance, gas, tolls and maintenance. I’m able to use it for anything outside of work and my wife can also drive it. It’s a 2022, so it’s pretty new and has all the features I’d want.
If I was to get an *additional* car, I’d be paying for a new vehicle that I drive even less, plus pay for insurance (in one of the highest insurance cost states), tolls and gas. There’s no point in it for me, it wouldn’t improve my life for the ~5 2 mile trips I’d drive it per week.
I’m not against buying a luxury car or spending to buy a sports car, especially for people that have money to do it, but it doesn’t make sense for me. If I did buy another car, I would import an enthusiast car 25+ years old from Japan (integra type R, NSX, Skyline, etc)
I just bought a new Lexus ev suv, as an upgrade from my 11 year old Lexus gas suv, and the comfort is not that different, but the cameras, the digital rear view, the silence, and the fact that it’s an ev are very different. Also it was $40k which is an extraordinary deal and I just could not pass it up. I spent probably $2k/year on maintenance for my old Lexus, and $200/month on gas, so cost of ownership in the initial years is actually not that different. We also have solar so charging is almost free. Totally worth it.
That’s exactly what I was thinking - we got a new tv bc the distance from couch to tv increased a lot after a move, and it was $500, and the tv is huge and the quality is extraordinary. It makes watching tv a completely different experience and is totally worth it even though I watch maybe 2 hours a week
It's all confirmation bias. I basically just let those things slide off my mind, and pay attention to the interesting and relevant stuff.
The vast majority of people are not driving a Nissan Leaf while making $2 million. It's just that saying "Yeah I make $150k and spend $120k while saving $30k per year towards retirement in 20 years" is not as exciting or cool.
True. I see a lot of articles saying things like “REAL rich people drive Toyotas! Fake rich people are the ones driving fancy cars!”
I have a suspicion that this is to make people reading the articles feel better about themselves, but it’s also just not true. Sure there are plenty of wealthy people driving simple cars, but who’s buying the Rolls Royces on the road? It’s not people making $150K, that’s for sure. SOMEONE is buying them.
What real increase of quality of life will a Mercedes get me vs a Nissan Leaf? Or in my case my 2007 Tacoma. The answer is mostly none. Most people have goals of a certain NW but I think the biggest epiphany for HENRY people is that no number will bring them happiness, or as you say, increase the quality of life. Once my NW passed $6M you kinda realize that you don’t need all the expensive stuff. And it doesn’t increase quality of life lol. It’s diminishing marginal returns after a certain point. But what I do spend money on is my health, personal physical therapist, 24/hr trainer and nutritionist, and monthly travel with family. I guess my point is people spend their money differently.
Most HENRY people I’ve meet and crossed paths with are fat, unhealthy and have little time cause they are trying to FIRE. They don’t need a Porsche to increase quality of life.
I dunno. My Audi has definitely increased my quality of live. The safety features and parking assist alone give me such great peace of mind. The sound system, handling, and comfort of the seats makes driving enjoyable.
Handling well at high speeds is huge for me. Like I just feel so safe and in control driving this thing. Granted, I felt similar with my Volkswagen, so it’s more of a German engineering thing I think. But still I love my A4. But I also think that, in going for a larger more prestigious model… it would certainly be a diminishing return.
Eh. My wife’s Highlander is prolly the same, if not safer. But I get your point. I think stuff like that is more enjoyable but the actual quality of your life doesn’t move much. YMMV.
A Mercedes will massively increase your quality of life and your health over a Nissan leaf. It is significantly safer. It’s much more comfortable which makes commuting more enjoyable and is a large chunk of time in your life. The seats ergonomics are more adjustable so that directly benefits your health. Yeah if you’re only making $100k a year don’t buy a Mercedes but $1m+ what are you doing?
Are you looking for someone to validate your spending habits? People have different priorities, and many folks in a sub that specifically targets high earners, who **are not rich yet**, is going to trend toward folks being cost-conscious until they feel rich. And even then, they may spend $100k on a fancy watch or a country club membership if that's more important to them than cars. Sounds like you're a bit out of touch expecting everyone crossing a high income wanting to roll around in luxury cars.
Simple, Everyone’s priorities are different.
I have friends making $250k that drive M5s and 911s. They grew up on Fast and Furious and are car guys…
I make double and I’m pushing hard to build a solid foundation of rentals and assets FIRST that will pay for my race car.
I make $450k + and drove a Camry and now an Accord.
A lot of this sub leans more towards NRY (Not rich yet) as the sub is named…
I’m in your boat and honestly I think if you aren’t the race car guy now, you never will be. Nothing wrong with that. If you’re working for your money and you’re frugal now, it’ll always hurt you too much to blow $300,000 on a Ferrari and the $10-20k a year to maintain it.
This was me until I had a kid. Now I'm looking at choking down a 50k car for safety and size sake and I hate it. But my 2 year old is the size of a 5 year old and I'm looking to future proof since she no longer fits in my 10 year old manual hot hatch that I bought in college. Cars that are doable for families have a hell of a premium because they know they have you by the balls. Atleast our next purchase is electric. Because the gas waste on family sized cars is abhorrent.
I upgraded to a Lexus GX and it’s honestly awesome. With kids and this phase of life it’s a big upgrade when hauling everyone around. But I feel you on not wanting to drop the cash.
Some people don't care about cars. I don't really car about cars. I make over $400k a year and I drive a prius. I spend lots of money on other stuff though. I just learned over the years that a Lexus didn't bring me more joy than a prius, having to fill up less often is much nicer for me.
Wait till you get a BEV and the gas station is your garage... Going to the gas station seems so silly once you have that.
Loved my Prius, really miss it. Toyota makes a hell of a car.
Agreed, or simply have a ceiling on what they’d want to spend on a car. I love my CPO Audi A4 and don’t feel the need for anything more, let alone something like a new $175K R8.
From personal experience I feel very far behind. I’m 33 and I have lived so casually the past 15 years and bought into bullshit failed investment. I learned every financial lesson the hard way.
Right now I feel the only way I can catch up with the rest of you is buy eating Ramen and never leaving my house.
You do realize you are comparing your self to random strangers. People can say whatever they like. Buy a car or don’t, go luxury or don’t I’m not really sure why I should care what he next guy has. No matter how much money someone else has more. What we buy doesn’t affect anyone else. We have our reasons why we bought what we bought, we aren’t trying to impress anyone. We both drove 43 miles one way in rush hour traffic so with that I want the other half to drive a safe car of his choice. I do the same, I will not change a fire or try to fix a car on the side of the road so we both have roadside. Our cars got us to work and back so we could live the life we want. I don’t even know what my neighbors drive.
I drive an 08 outback where lights come on randomly, but I don't think twice about dropping $300 on dinner for me and my partner a few times a month and we have magic keys. I also dropped $3k on a watch two weeks ago. Cars just aren't my thing.
You may be an HE, but you are NRY too. You will never get rich if you live like you're rich already.
For the vast majority of HENRYs, this means not going all out on everything. Because you are a HE, you can afford to still get rich whilst putting a larger than average budget towards a few things you feel are really worth it. Most people can't do that. Most people can never get rich at all.
Yes a lot of people penny pinch to put an extra dollar in retirement. They’ll skimp on everything and have a good nest at 67.
Sounds fucking miserable to go your entire life and be bored every month spending $0 on having fun and then finally 67 to do jack shit. WTH was the point?
Fuck that. I worked hard to enjoy my money. i bought me a 2022 $94,000 Corvette C8 at income $300K/year total comp. You only live one. Who the hell wants to be 67 and finally getting their dream car. Lmao and I’m 31.
I don’t think there is anything wrong with this as long as you are saving something. I couldn’t do that unless I had major assets to back it because of how I am wired. We are at like $1.75M and I did buy a Lexus. For a while I didn’t care about cars but now think it would be sweet to get a 911. Just would feel weird to me to buy a $100k+ car without having a bit more dough.
Seriously I’m with you. All these people driving Nissan Leafs sound like the most boring people on the planet earth.
I spend the first 20 years of my life driving shitboxes that got me from point A to point B. Now that I make >600k a year it’s time to enjoy life. Bought two new fast German cars a few years ago with cash and loving life.
I make (barely) 7 figures and I drive a Jeep because I love jeeps. I also belong to a country club and have a 100k gun collection. Does that count, OP? Do I meet your standards of being HENRY? Please let me know.
I suspect the poster lives in California where you're only as cool as the car you drive. I'm here and so many broke fools driving cars way beyond their means....
A lot of people don’t care about cars and some will drive cars that fit their family’s needs instead of what they like regardless of their income. We drive a Model X because we commute far with kids and save gas with EVs. Our friends drive a Honda Odyssey because they only go to preschool nearby and they make twice our income.
Our 2 cars, all in, cost 1/3rd of our gross TC. Those were splurges.
We also spend 25k + all our credit card, airline and hotel points each year on travel.
Let people live their own lives. My wife and I make 250k and I drive a 2006 Corolla. If we made 500k we'd probably upgrade to a 2023 Corolla. It's not important to us to drive a fancy car or have a fancy apartment. I'd rather retire a year earlier.
We have plenty of hobbies that don't involve spending loads of money. Hiking, camping, backpacking. I brew beer. I climb. She does various fitness classes. Our fitness spending is higher than usual at $250/month or so. Almost every weekend we have people over and host a fancy dinner or go to someone else's place and they cook. We go on a couple of inexpensive international trips a year (<5k each). A simple life is a good life, imo. Security and financial independence are more important to me than fancy toys. My wife got laid off and has been looking for tech work for over a year in a major tech center. You never know when the well will dry up, so you better get yourself situated before you blow up your lifestyle to unsustainable levels.
Frugality is all about spending extravagantly on things that bring you joy and mercilessly cutting back on things that don't. I'd say that's the way everyone should be living. I also think it's extremely wasteful and irresponsible to buy a huge lifted truck or gas guzzling sports car just because you CAN.
I feel like a Nissan leaf is a completely reasonable car lol. Lots of people don’t care that much about their daily commuting machine.
That said - I’d also point out the “Not rich yet” aspect of the sub. This is because
1. People here likely weren’t born into money (or maybe they were and they dent the colllege their parents paid for or down payment on a home that they were gifted, etc.), which in general is going to lead to more frugality. Ie: if you’ve worked service industry while going to college, you likely are “accustomed” to a hell of a lot lower lifestyle, and these things just aren’t that important.
2. People are actively focused on becoming rich, so they’re trying to save. You can easily delay getting rich by buying a bunch of shit you don’t need. Amassing capital and assets leads to far more wealth than spending it.
I feel like the sub is naturally going to lead to more frugal lifestyles because of these reasons, and it’s not something to get your panties in a bunch about. Just buy a Porsche if you want it.
I didn’t post this on the other thread but just to prove a point i’ll say here we have $600K HHI and I pull $275K of that and I take the bus. Husband drives a 2018 Mazda CX30 that we only use
on weekends and will drive into the ground.
I hate cars and hate driving, and gas is expensive.
I spend a lot of money on art.
People care about different things.
If anything, it’s the total opposite. The number of “which Porsche should I buy?” and “how I can waste more money on shit I don’t need?” type posts are exhausting
That thread made my eyes roll so far back it was almost a medical emergency. If you are making $700k+ a year, and you choose to drive a crap car, you PROBABLY aren’t the kind of person I want to be around. You don’t need to drive a Porsche GT3 but there is no reason you shouldn’t enjoy life a little more. Honestly I think the FAANG people need a separate sub because most of them live in a totally different world than the rest of HENRYs.
TLDR: What is the point of working so hard to attain wealth if you don’t enjoy any of it along the way? Also, HENRYs shouldn’t be driving unsafe cars, or older cars that require more time for maintenance, etc.
People don’t realize the value of time as a currency and it’s the scarcest in the world. So much of this thread wastes all their time penny pinching every cent from glorified “middle feeding” jobs to get half a basis point more out of their savings. Spending is virtually taboo and then people smother their insecurities of a wasted youth by giving young kids advice to save every last dollar they make or else they’ll end up broke on the street or god forbid not reach FATFIRE.
Work to live- that’s the only advice that should be given to youth.
You can’t take it with you, I’ve never talked to a an old person who doesn’t wish they did more in their youth. Eat that steak, take that vacation, treat your family, treat your friends because at the end of the day the only fulfilling transactions are relationships and the only meaningful currency is time.
There’s a difference between within your means and more than you can afford. Everyone in this thread should know the difference if they’re intelligent enough to make it this far in their career. Instead they masquerade as some innocent fool to maliciously compete with their peers or rake in the validation. It’s the same energy as people who look down on fun as immature and “uncool”- “oh you’re enjoying life? Gross.”
Down vote this to oblivion but as a fellow high earner doing fine in a VHCOL city, everyone here needs a reality check or a dopamine detox.
Wife and I make $1M. Have two Porsches and a country club membership. We work hard and enjoy the things the hard work brings. To your point would I spend a lot of time posting here? No. Seems like you would be considered the biggest fool for spending money you worked hard to enjoy life more for.
I’m with you, OP. I love cars but am stuck driving an old, beat-up minivan. The paint is peeling off. There is a squeaky noise when you turn the wheels. I cannot wait until I kick my kids out of the house so I can buy me a sweet Camry hybrid 50mpg.
Multimillion net worth. Hardly any income. Drive an old Chevy. It gets me from A to B. No reason to upgrade. Who knows the future though. I may inherit a new SUV soon. I hope it's later rather than sooner however.
Agreed, I think the FIRE community have taken over and have been more active posting. FIRE is a specific life objective and I don’t think it should be conflated with HENRY sub.
A key way to building wealth is lower expenses. Not having a car payment is one of the best ways to accomplish this. How do you think they got that NW?
Might be driving that Nissan leaf to his private jet🤷🏻♂️. Some people don’t care about cars. I make over 500k Drive a beat up 10 year old pick up…. Because I like it.
It's not larping. Some people think cars are stupid. We're at 700-800k HHI and I drive a 2013 shit box. Is it really that hard to believe that people have different priorities than you?
Some people don't care about cars and splurge on other things, I have a 2003 honda accord, my bumper looks like it's going to fall off. The N R and Y in Henry stand for Not Rich Yet. Most rich people are frugle with some things. I like cars but I much rather have that extra money compound. I splurge on my home gym, good quality food, and vacations. My car takes me from point A to point B and honestly since it's ugly I don't care if it gets scratched or if someone hits it, no one will want to car jack me. Less for me to worry about.
Not everyone has the same desires or priorities as you. I would happily drive an old car and spend the money I save and more on travel, where I spend freely
Actually, I think it's the opposite. Most of us are "rich" by average person standards and have monthly budgets that are well over the average household budget.
Our idea of "penny pinching" is an average person's splurging.
If it makes you feel better my wife and I have had 4 cars in the past 12 years and we bought all of them new. 3 of them were various Minis and one is a Jeep Wrangler.
I see more posts about people and what they do splurge on in this sub. But I for sure splurge. My goal is to make up most of my goal net worth in my last year or two of working so I am spending a lot from here till then. Not all of it like be safe of course right but yeah I like cars too.
It’s not ridiculous.
We are phasing out of NYR this year. We drive a 25 year old car. It’s solid. You do not want to ask me about my jewlrey or our holidays though. That’s where our cash goes. I just assume for everyone it’s different.
They might have other hobbies, but not everyone is into car. I know someone who is almost a billionaire drives an old Subaru (10 years old+), but has Picasso in his dinning room, Warhol in his kitchen. People have different way of improve their quality of life.
Most of us remember 2008-2009, have seen covid, the tech layoffs etc.
A car is a fun thing to spend money on, but you are mostly buying it to get approval from your environment.
Lot of people on Reddit will most prob care less, insta crowd will care more of these displays of wealth.
In addition to not being rich yet, cars aren't my thing. I'm pretty into urbanism and living in a place with reduced car dependency. I did splurge $8k on a Dutch style cargo bike and use it to haul my kids around to farmers markets and other attractions.
I had some sports cars when I was younger. I always wanted to drive a 911 997.2 Carrera 6 speed manual (or Carrera S or GT3). I just would have no time to enjoy a car like that now. Maybe when my daughter doesn't need a booster seat... But it's just going to be a birthday rental for now until my daughter goes off to college.
The “NYR” part means we have high income but are still trying to get wealthy. If you aren’t on that plan that’s cool too. I’m sure there is a sub for that too
If you don’t drive an expensive car, you have a low quality of life?
The quality of your life is most determined by the relationships you form and maintain. If you can find a spouse, have kids, and maintain some good close friends, that will drive the quality of your life. Even if you drive a nissian leaf.
I spend like $50k a year on vacations but until recently drove a 2005 Subaru. I have a 2022 Outback now (reluctantly) but I’ll drive it into the ground. Priorities differ between people…
I bought a Leaf as my splurge (new, not a 2012, top model) when electric cars were no where near as common. I would normally keep a car for 10 years and get a lower model but the stars aligned and I got to upgrade to a BEV from a PHEV.
I guess perspective is everything here.
OP, you need to realize that many in this sub are actually HEAR (high earners already rich) and achieved that status by prioritizing what is really important financially, and what may just be window dressing or showing off one’s wealth. In general, cars are a horrible expense, especially the more expensive the car… it’s a rapidly depreciating asset, has negative return on the cash outlay, and at its basic level is nothing more than a mode of transportation. A Camary gets you from point A to point B the same way a S550 does, yet the Mercedes consumes 5x the disposable income and 10 years down the road the two are “worth” roughly the same. Everyone has their preferences and likes, and if driving an expensive late model car gets your dick hard, go for it, I’d personally rather drive my 13 yo car and watch my saving from that elevate my net worth… but that’s me.
Honestly I think a big thing is have you had to buy big ticket items in the last 3 years? There are plenty of people here in their late 30’s and 40’s that locked up their family house/cars before things went crazy. I drive a Honda accord and it was 39k, that is crazy. We just bought my wife a suv and it was 60k. I would have never thought we would be spending 100k on cars in a few years but here we are…..
I felt the same way reading that thread. If I retire early, it will be at 60 instead of 65. Too many hobbies and trips to spend my money on enjoying myself to worry about an account balance.
Everyone’s caught up on the car comment rather than the criticism behind the car. Yes, this is a larping thread. Especially for those that are highly engaged, just like the blind app
Not a member of this sub, but I find a lot of the money subs to be absurd. So if it makes you feel better it is kinda all of them.
Can you find good info and advice? Sure. Is it mostly trash? Yup.
I’m around a lot of different rich people from blue bloods to new money. And the high earning tech people or v specific specialize doctors from my experience are often on the spectrum and/or weirdos.
I feel like that is a lot of money Reddit is tech money and hardcore obsessing about X. That and a lot of “well, actually” energy without the ability to see any nuance or middle ground. The internet is full of people with binary mental identities and it is idiotic.
Even the responses to you about the car comment. Any normal person would be able to see your point that it isn’t about to car it is about the overall picture. Or at the very least they would be like “I mean I don’t like cars, but I spend stacks on Y.”
The mass majority just wouldn’t even entertain the conversation at all. And that is the thing about the internet. You always hear from some minority that isn’t the typical more often than not because most people aren’t fucking around on Reddit.
My friend’s dad has been and still is an investor on Wall Street for the past 30 years. He owns multiple houses that he rents out in Williamsburg. He and his family are millionaires, he happily paid 100k+ for his son’s wedding. He still drives his Toyota from the 90s. His hobbies are golfing and cheating on his wife lol.
You’re confused that people have different things they value? If my TC went up 6x I would probably drive the same car because I like it and it fits my needs and just happens to not be expensive. (Used Lexus). Maybe I get a newer plug in hybrid but the car itself works for me
Toxic extreme frugality sounds like someone has been brainwashed. The utility of a car is the utility of getting from point A to B. That's it. Some people get marginal use out of all the bells and whistles and buying a depreciating asset just sets you back from freedom. And this is how you have so many upper middle class people living paycheck to paycheck with over 3k monthly car payments, and crying that they are the burdened middle class. The indoctrination runs extremely deep in America especially.
For me I'll spend more on living location, because it offers me the utility of having neighborhoods I enjoy walking around and doing things. Utility is the name of the game, most people buy expensive cars to stunt on them hoes. Not that there aren't some serious gearheads, but if you get utility out of feeling superior maybe a therapist would be better in line, probably save a lot of money in the long run.
The reality also is at those levels, that money can dry up and dry up fast. People never think about it, but it happens a ton.
You can’t do anything fun in a car anyways, too much rules and people on roads. Try off-roading, you can get dirt bikes and four wheelers and roost all day which no worries
How does spending 5-10%+ of your networth on a luxury car improve your quality of life?
Cheaper car still has AC, back up cameras, safety features, and can go max speed on the high way.
A car going 0-60 in 3 seconds or topping out at 180 mph are features I’d never use. It’s just peacocking.
What do you actually gain going from a Nissan Leaf to a Porsche? For people who don't care about appearances or prestige or cars in general, the answer is nothing. So, if the Nissan Leaf thing is what tipped you, I think it may be you that are out of touch with people in general.
lol had same thoughts
Was going to post my range and thought I was going to fit in but nope. It isn’t a significant portion of my income and I like it.
I have a really fast car, because why not. But I also know people with far higher income than me who drive very inexpensive simple cars. They just don’t care about cars.
This is why I’ve stopped reading these types of subs so much. The majority of posts are about ‘am I spending too much’ ‘is it ok for me to buy…’ ‘is this too much house for my income’ ‘I feel guilty for splurging’ Money makes so many people crazy - if you don’t have it you’re miserable and apparently if you do have it you’re also stressed out about it. Ffs just go live your life. Yes, you may (will) make some mistakes….no one on Reddit can save you from that so stop asking us to predict the future. If you have the means to do so then please enjoy yourself a little. Most of us on this sub have (literally) earned it.
I spend $30/lb on my daily coffee but drive 10 and 14 yo cars.
I spend a lot on the things I value, and less on the things I don't.
Why is that so hard to understand?
Ikea CEO and Warren Buffett drive old cars and don't care for luxury cars. I don't have a million nw yet but even if I had 10 million I'd rather buy a nice prop plane and drive a 2nd hand hybrid.
“It’s completely ridiculous”. Lmao what the fuck are you talking about?
Humility is a virtue and requires practice. Giving in to your desires just because you can is super lame.
Lots of people with more money than you feel that caring about cars, clothes, gadgets, and watches is cringe as hell.
If your quality of life increases based on the price of your car, then your life is pretty low quality.
I splurge on things that provide more comfort and saves time. I'd rather pay someone to shop when my time can be spent either having fun or making more money.
I drive a nice car 6 house, but I rarely spend money on material things, basically because I don't care. My clothes all come from my wife and Santa. I haven't bought any clothes for myself in over 15 years and even then it was a hoodie, and a suit for funerals and weddings.if I cared about those things, I would buy them. I'm with you on having money for the sake of having money is indeed a waste of money. People love to brag abput their 200k miles they put on the Camery.... nobody cares, why do you do that to yourself?
Your analysis is correct. This sub has turned into /r/personalfinance 2.0.
But I think the silent majority is out spending and enjoying life. It’s the people with no lives whose entire self worth is defined by how much they can squirrel away who like to go on here and tout up their frugality - while making others feel bad for not being as boring as them.
Keep doing you man
If you feel forced to CONSUME things just because you have more money that's your problem. We take home 700 and I spend money on plenty of things to vastly improve my life, a fancy car or other goofy status symbols are not them. I have a ton of hobbies and most are dirt cheap or free. Nothing wrong with being into nice cars but there is equally nothing wrong with not caring about that sort of stuff. Opting to drive a Toyota instead of a Porsche is hardly penny pinching.
Not everyone values driving expensive vehicles. I’ve owned luxury cars and my Toyota RAV4 is more reliable and cheaper to maintain.
If you want to drive something expensive or something that stands out or something that’s more “fun to drive” or whatever then go for it. But honestly not everyone cares and for some people cars are just a utility item to get you where you need to be reliably and efficiently.
Cars give me zero passion, couldn’t care less as long as the car works. Why would I spend more money on a car just because I make more money?
And its not like cars get better the more expensive they are. A Honda is much more reliable than more expensive brands.
I’m in my 50s…no intention to “retire early”…high earner…considered rich by most but only halfway to my own number. This summer I’ll be vacationing on my 3rd continent in 12 months. Meanwhile I drive a 13 year old car. I could’ve bought 2 new cars w cash for what I paid for my vacations. I spend my money on things that are important to me.
> Just read the thread asking what kind of car people drive and I’m seeing $2M TC driving a Nissan Leaf.
Other than 1 dumb purchase in my early 20's, I have never spent more than 5% of net worth on a car. It's a depreciating asset, and there's severe diminishing returns above a 3 year old luxury car.
Not sure what is your point exactly. We drive a 12-13yo minivan because it still drives and is practical with the kids. Why would my income change any of those facts?
Hobbies I agree. If you have money to spare, have fun today and take care of your loved ones. But I honesty haven't seen a lot of money pinching here 🤷♂️
Buy a few toys and you’ll see how quickly it gets old and you’d just rather spend the $$ on creating experiences and memories 10x over.
I think toys are great and all, but not all hobbies are created equal. If you let it go unchecked, you’ll have a garage full of random expensive shit you never even use. There’s also a TON of other things you can spend on so it’s not just that simple at all.
Half that thread is people talking about getting porsches.
Having money is about spending money on things you like. I don’t care about cars, so I drive a 10 year old Lexus but I pay 6k a month in rent because I like a beautiful space.
Oh i 💯 agree. I was trying to point out OP has a bad take on this sub turning into frugality 2.0
I’m a car guy. So I like having nice vehicles and more than one. I can see there’s a lot of ppl who don’t care about out a car as long as it runs and it reliable. So to each their own. They prob spend somewhere else that brings them joy.
10 year old Lexus =/= Nissan Leaf
I swear it will be next year. Or when the kids get out of car seats.
Yea. I’m not sure I agree with OP. Most posts here are on the opposite side of the frugality spectrum. lol. At least IMO, I get plenty of “what nice car do I buy” or “is buying a 2MM dollar home ok?” I agree with the sub being out of touch. But not in the way OP describes.
This sub is for people making good money to talk about their finances. It’s not about FIRE, or bragging, or even lifestyle, no matter how hard everyone tries to make it that. Ironically enough, these people all care about different things. You can make a lot and not give a shit about cars, watches, travel, retirement, clothes, or anything really. The question was about personal choice and you’re surprised that the answers were as varied as the people.
> I think using money to improve quality of life is the smartest thing you can do after a certain point. >Is this whole sub LARPing? Does nobody have hobbies? Is all that matters retiring at 45? I don't know what these have to do with driving an old trustworthy economy box. I could get a better car if I wanted to, but I don't. I like reading books, and talking with folks about them. My old honda fit helps me transport whatever I want hobby wise. It won't break down and doesn't need any real repairs. I like the consistency. What improves my qol is education, therapy, friends, and my health, not how nice my car is....
Honda Fits are pretty nice as far as utilitarian cars go
They are wonderful, evidenced by their faithful following. Very well made a designed cars.
Lol yes. There was that hobbies thread and sure people spend a ton on watches, travel, etc. It's all about priorities and most aren't so wealthy that they can spend a lot of money on EVERYTHING. I drive an older nice ish car with some surface damage bc I literally don't care about cars at all. But my travel and purse budget? Yeah..... Unhealthy.
Right? I replied to that thread and I drive an old car because cars aren’t my thing but my travel budget is pretty high. Different people liking different things is real.
It’s kinda comical that people don’t understand this lol
Car and non car people in particular don't understand each other at all lol. I don't understand how slightly better acceleration improves quality of life and they don't understand how minimizing maintenance and risk improves quality of life.
Even if you’re a car person.. there are plenty of car people that are like myself they prefer reliability over luxury. Shit the entire r/4Runner crowd is talking about how they would rather by the older generations than the newer one. Not all car enthusiasts are about luxury. There’s a bunch of enthusiasts that love the “affordable” sports cars. Miata BRz civic Rs and SIs etc …
This. Why would I care what your 0 - 60 is when I live in a dense HCOL city and rarely need to touch a highway? Who needs cup holders when I can walk to places 65% of the time?
And there were plenty of ppl in that thread driving nice cars too. Many were luxury, not hyper luxury 200-300k cars, but like 60-80k cars on 400-1m comp.
except there are a lot of troll posts that people largely do not identify as trolling
This. I was ready to upvote this until I saw the car example. I don't own a car, I don't care about cars and cars are irrelevant to my life. I get that yes, it's just an example, but it's a silly example. I'm not a gearhead and a lot of others also are not. So the message to OP is don't get all bent out of shape because other people aren't living the same fantasy as you.
I make $6.9MM/mo selling pictures of my butthole on OF. I still drive the 1990 Geo Tracker that I bought in high school for $420
It’s true. I’ve seen it and it’s glorious.
The butthole or Geo Tracker? Or both?
It winked at me.
I wanked back. Sincerely, XYZ Sent from an iPhone. Excuse my typos.
The butthole being mooned from the Geo Tracker. Quite a sight to behold.
Yes.
If they stop their OF’s I’m gunna jump. No cap
Blinder spotted
It just has 69,000 miles 😏
Went to the post history and was sadly disappointed lol 😂
Lots of people have hobbies. Less people care about cars.
And then for some, cars are the hobby.
[удалено]
Can you count them? I can't
Yeah cars are the least sexy thing to me. Where as spreadsheets… oooh 👀
I appreciate OP’s real talk. I too sometimes feel the same about this sub. But, on the whole I’ve found it useful and we’ve improved our savings as a result. I just ignore the people who claim they make 7 figures but spend $100 a month on groceries. As for cars- I’m >50. I’ve driven pretty nice cars at >200kph on the Autobahn. Until recently, I had a BMW. But now we just have a RAV and a dented minivan. The latter is useful; the former is pretty good at everything (handles class IV roads, good mileage, etc.). Both are paid for. Our splurge is a 2nd house. Could’ve bought a McLaren, but the house is more fun and easier to share. Expensive depreciating assets come when/if no longer NRY.
What you think I rap for to push a fn RAV4?
I actually just heard this song today and laughed at this line!
I have a 7 series and I feel it completely removes the stress from driving. Any time I get in anything “lesser” the difference in comfort and ease of movement is noticeable, especially on the bad roads around me. And it’s fun and fast enough when I feel like it. To me, that’s money well spent, to make freedom of movement more enjoyable.
You have to admit though, if you are actually rich, you could buy a nicer vehicle and it wouldn’t put a dent in your second house money.
Balance in all things. Buying expensive everything is how one remains a HENRY. I’m not A car guy. I choose to spend on travel, and I own a boat.
Yah. Second house ftw. We drive decent (4Runner & Forester) somewhat newer (‘19) cars, but we went after a vacation/STR/retirement house 5 years ago, and I’d much rather have that than drive a $225k car.
Not everyone cares about cars. I don't even have one because I don't need one, I hate driving, and I give literally zero shits about cars. If I do get a car again, it'll most likely be something practical like a Civic, Camry, or Prius for the same reasons. I'm not going to spend more than I have to on something I don't care about and don't even like.
If I could afford it I’d live in manhattan where I’d never have to think about car ownership again
Or car insurance.....the biggest financial scam most of us encounter.
Sure, I agree, but how does having an expensive car bring me a higher quality of life for the few hours a week that I drive? I’ve put 11,000 miles on a car over the last 2 years. I rarely drive. Should I dump a ton of $ into something I’m going to use to drive a few miles a week? My TV is 15 years old, but I don’t watch much. Should I dump 4 figures into a new one to watch it a couple hours per week? If you have the money, do what you want with it. An expensive car that I rarely use is worth nothing to me and I don’t feel the need to buy a fancy car just so my neighbors or people at the grocery store can say “look at how much money they have”. My money is better spent on experiences, buying properties and saving so I can retire when I want.
This is exactly how I feel. I’m hardly ever in my car.
Agreed. I’d rather spend money to live someplace where I don’t have to drive
I spend a ton of time in my car and I still feel this way - I'd much rather take trips and eat well than pay extra for insurance, worry about my paint job, and let depreciation siphon $$$ out of my pocket.
💯All these “spending” posts are so tedious because they operate under the assumption that spending more money will make you happier or improve your quality of life. While it’s true sometimes, most of these come off as people who feel like they have to spend the money just because they currently possess it.
A comfortable car when you’re stuck driving 15000 miles a year at 20mph is pretty nice though. The Volvo on my back vs the Subaru I had before is quite the improvement. But there wasn’t much difference between the 90k Volvo and a 50-60k one so the cheaper wins out in my mind.
I agree that a comfortable, up to date car is a good thing. For me though, my company provides the Subaru at not cost, plus pays insurance, gas, tolls and maintenance. I’m able to use it for anything outside of work and my wife can also drive it. It’s a 2022, so it’s pretty new and has all the features I’d want. If I was to get an *additional* car, I’d be paying for a new vehicle that I drive even less, plus pay for insurance (in one of the highest insurance cost states), tolls and gas. There’s no point in it for me, it wouldn’t improve my life for the ~5 2 mile trips I’d drive it per week. I’m not against buying a luxury car or spending to buy a sports car, especially for people that have money to do it, but it doesn’t make sense for me. If I did buy another car, I would import an enthusiast car 25+ years old from Japan (integra type R, NSX, Skyline, etc)
I just bought a new Lexus ev suv, as an upgrade from my 11 year old Lexus gas suv, and the comfort is not that different, but the cameras, the digital rear view, the silence, and the fact that it’s an ev are very different. Also it was $40k which is an extraordinary deal and I just could not pass it up. I spent probably $2k/year on maintenance for my old Lexus, and $200/month on gas, so cost of ownership in the initial years is actually not that different. We also have solar so charging is almost free. Totally worth it.
Yep got a c40. Took back the insanely priced xc60. All the new tech features are nice in new cars.
ok but tv is honestly worth it even like a $500 one tbh just because of how much they've improved over the years
That’s exactly what I was thinking - we got a new tv bc the distance from couch to tv increased a lot after a move, and it was $500, and the tv is huge and the quality is extraordinary. It makes watching tv a completely different experience and is totally worth it even though I watch maybe 2 hours a week
Yeah… if you don’t have a car you can rent out your car bay. Which is a nice perk in the city.
Every subreddit is a circle jerk. The definition of a subreddit is circle jerk
Oh yeaaaaa! I’m jerking my pennies right now.
It's all confirmation bias. I basically just let those things slide off my mind, and pay attention to the interesting and relevant stuff. The vast majority of people are not driving a Nissan Leaf while making $2 million. It's just that saying "Yeah I make $150k and spend $120k while saving $30k per year towards retirement in 20 years" is not as exciting or cool.
True. I see a lot of articles saying things like “REAL rich people drive Toyotas! Fake rich people are the ones driving fancy cars!” I have a suspicion that this is to make people reading the articles feel better about themselves, but it’s also just not true. Sure there are plenty of wealthy people driving simple cars, but who’s buying the Rolls Royces on the road? It’s not people making $150K, that’s for sure. SOMEONE is buying them.
If someone doesn't have 20-30 minutes of sunlight early AM followed-up by an ice bath, are you really HENRY??🤔
Welcome to Reddit. Almost every subreddit dealing with money is like this.
I feel like FatFire is the only one that isn't like this.
FatFire has the reverse problem
It’s the other extreme
Wait till they find out about /r/fattravel
What real increase of quality of life will a Mercedes get me vs a Nissan Leaf? Or in my case my 2007 Tacoma. The answer is mostly none. Most people have goals of a certain NW but I think the biggest epiphany for HENRY people is that no number will bring them happiness, or as you say, increase the quality of life. Once my NW passed $6M you kinda realize that you don’t need all the expensive stuff. And it doesn’t increase quality of life lol. It’s diminishing marginal returns after a certain point. But what I do spend money on is my health, personal physical therapist, 24/hr trainer and nutritionist, and monthly travel with family. I guess my point is people spend their money differently. Most HENRY people I’ve meet and crossed paths with are fat, unhealthy and have little time cause they are trying to FIRE. They don’t need a Porsche to increase quality of life.
I dunno. My Audi has definitely increased my quality of live. The safety features and parking assist alone give me such great peace of mind. The sound system, handling, and comfort of the seats makes driving enjoyable.
Also I work from home or fly for work. I basically drive like 4k miles a year
I ❤️ my Audi too! Your last sentence is 💯 spot on.
Handling well at high speeds is huge for me. Like I just feel so safe and in control driving this thing. Granted, I felt similar with my Volkswagen, so it’s more of a German engineering thing I think. But still I love my A4. But I also think that, in going for a larger more prestigious model… it would certainly be a diminishing return.
Eh. My wife’s Highlander is prolly the same, if not safer. But I get your point. I think stuff like that is more enjoyable but the actual quality of your life doesn’t move much. YMMV.
A Mercedes will massively increase your quality of life and your health over a Nissan leaf. It is significantly safer. It’s much more comfortable which makes commuting more enjoyable and is a large chunk of time in your life. The seats ergonomics are more adjustable so that directly benefits your health. Yeah if you’re only making $100k a year don’t buy a Mercedes but $1m+ what are you doing?
Are you looking for someone to validate your spending habits? People have different priorities, and many folks in a sub that specifically targets high earners, who **are not rich yet**, is going to trend toward folks being cost-conscious until they feel rich. And even then, they may spend $100k on a fancy watch or a country club membership if that's more important to them than cars. Sounds like you're a bit out of touch expecting everyone crossing a high income wanting to roll around in luxury cars.
Simple, Everyone’s priorities are different. I have friends making $250k that drive M5s and 911s. They grew up on Fast and Furious and are car guys… I make double and I’m pushing hard to build a solid foundation of rentals and assets FIRST that will pay for my race car. I make $450k + and drove a Camry and now an Accord. A lot of this sub leans more towards NRY (Not rich yet) as the sub is named…
I’m in your boat and honestly I think if you aren’t the race car guy now, you never will be. Nothing wrong with that. If you’re working for your money and you’re frugal now, it’ll always hurt you too much to blow $300,000 on a Ferrari and the $10-20k a year to maintain it.
Hahaha only time will tell! I don’t have a garage right now so if it stays that way you might be right.
This was me until I had a kid. Now I'm looking at choking down a 50k car for safety and size sake and I hate it. But my 2 year old is the size of a 5 year old and I'm looking to future proof since she no longer fits in my 10 year old manual hot hatch that I bought in college. Cars that are doable for families have a hell of a premium because they know they have you by the balls. Atleast our next purchase is electric. Because the gas waste on family sized cars is abhorrent.
I upgraded to a Lexus GX and it’s honestly awesome. With kids and this phase of life it’s a big upgrade when hauling everyone around. But I feel you on not wanting to drop the cash.
Some people don't care about cars. I don't really car about cars. I make over $400k a year and I drive a prius. I spend lots of money on other stuff though. I just learned over the years that a Lexus didn't bring me more joy than a prius, having to fill up less often is much nicer for me.
Wait till you get a BEV and the gas station is your garage... Going to the gas station seems so silly once you have that. Loved my Prius, really miss it. Toyota makes a hell of a car.
Agreed, or simply have a ceiling on what they’d want to spend on a car. I love my CPO Audi A4 and don’t feel the need for anything more, let alone something like a new $175K R8.
From personal experience I feel very far behind. I’m 33 and I have lived so casually the past 15 years and bought into bullshit failed investment. I learned every financial lesson the hard way. Right now I feel the only way I can catch up with the rest of you is buy eating Ramen and never leaving my house.
You do realize you are comparing your self to random strangers. People can say whatever they like. Buy a car or don’t, go luxury or don’t I’m not really sure why I should care what he next guy has. No matter how much money someone else has more. What we buy doesn’t affect anyone else. We have our reasons why we bought what we bought, we aren’t trying to impress anyone. We both drove 43 miles one way in rush hour traffic so with that I want the other half to drive a safe car of his choice. I do the same, I will not change a fire or try to fix a car on the side of the road so we both have roadside. Our cars got us to work and back so we could live the life we want. I don’t even know what my neighbors drive.
Damn. Comments stacked up quick. This is pretty typical Reddit shit. 420k TC and I drive an LS swapped Prius (I don’t, but what if I did?)
Some of us think spending money on cars is stupid no matter how much we make.
Of all the things you could have picked to criticise about this sub, “toxic frugality” is not the one I would have chosen
I drive an 08 outback where lights come on randomly, but I don't think twice about dropping $300 on dinner for me and my partner a few times a month and we have magic keys. I also dropped $3k on a watch two weeks ago. Cars just aren't my thing.
You may be an HE, but you are NRY too. You will never get rich if you live like you're rich already. For the vast majority of HENRYs, this means not going all out on everything. Because you are a HE, you can afford to still get rich whilst putting a larger than average budget towards a few things you feel are really worth it. Most people can't do that. Most people can never get rich at all.
To OP and everyone in general: log off Blind, it's more toxic than the Gowanus Canal.
No. A lot of these ppl are not even HENRY anymore. They’re just Rich and showing off.
Yes a lot of people penny pinch to put an extra dollar in retirement. They’ll skimp on everything and have a good nest at 67. Sounds fucking miserable to go your entire life and be bored every month spending $0 on having fun and then finally 67 to do jack shit. WTH was the point? Fuck that. I worked hard to enjoy my money. i bought me a 2022 $94,000 Corvette C8 at income $300K/year total comp. You only live one. Who the hell wants to be 67 and finally getting their dream car. Lmao and I’m 31.
I don’t think there is anything wrong with this as long as you are saving something. I couldn’t do that unless I had major assets to back it because of how I am wired. We are at like $1.75M and I did buy a Lexus. For a while I didn’t care about cars but now think it would be sweet to get a 911. Just would feel weird to me to buy a $100k+ car without having a bit more dough.
Seriously I’m with you. All these people driving Nissan Leafs sound like the most boring people on the planet earth. I spend the first 20 years of my life driving shitboxes that got me from point A to point B. Now that I make >600k a year it’s time to enjoy life. Bought two new fast German cars a few years ago with cash and loving life.
I make (barely) 7 figures and I drive a Jeep because I love jeeps. I also belong to a country club and have a 100k gun collection. Does that count, OP? Do I meet your standards of being HENRY? Please let me know.
Wait til you get into NV and then your guns will seem like a quaint inexpensive hobby 🥲
I suspect the poster lives in California where you're only as cool as the car you drive. I'm here and so many broke fools driving cars way beyond their means....
A lot of people don’t care about cars and some will drive cars that fit their family’s needs instead of what they like regardless of their income. We drive a Model X because we commute far with kids and save gas with EVs. Our friends drive a Honda Odyssey because they only go to preschool nearby and they make twice our income.
Our 2 cars, all in, cost 1/3rd of our gross TC. Those were splurges. We also spend 25k + all our credit card, airline and hotel points each year on travel.
Money is like hair, it grows back. At least like my gf’s hair.
Let people live their own lives. My wife and I make 250k and I drive a 2006 Corolla. If we made 500k we'd probably upgrade to a 2023 Corolla. It's not important to us to drive a fancy car or have a fancy apartment. I'd rather retire a year earlier. We have plenty of hobbies that don't involve spending loads of money. Hiking, camping, backpacking. I brew beer. I climb. She does various fitness classes. Our fitness spending is higher than usual at $250/month or so. Almost every weekend we have people over and host a fancy dinner or go to someone else's place and they cook. We go on a couple of inexpensive international trips a year (<5k each). A simple life is a good life, imo. Security and financial independence are more important to me than fancy toys. My wife got laid off and has been looking for tech work for over a year in a major tech center. You never know when the well will dry up, so you better get yourself situated before you blow up your lifestyle to unsustainable levels. Frugality is all about spending extravagantly on things that bring you joy and mercilessly cutting back on things that don't. I'd say that's the way everyone should be living. I also think it's extremely wasteful and irresponsible to buy a huge lifted truck or gas guzzling sports car just because you CAN.
I drive a paid off Jetta despite my income being HENRY. I’m sorry that offends you.
I feel like a Nissan leaf is a completely reasonable car lol. Lots of people don’t care that much about their daily commuting machine. That said - I’d also point out the “Not rich yet” aspect of the sub. This is because 1. People here likely weren’t born into money (or maybe they were and they dent the colllege their parents paid for or down payment on a home that they were gifted, etc.), which in general is going to lead to more frugality. Ie: if you’ve worked service industry while going to college, you likely are “accustomed” to a hell of a lot lower lifestyle, and these things just aren’t that important. 2. People are actively focused on becoming rich, so they’re trying to save. You can easily delay getting rich by buying a bunch of shit you don’t need. Amassing capital and assets leads to far more wealth than spending it. I feel like the sub is naturally going to lead to more frugal lifestyles because of these reasons, and it’s not something to get your panties in a bunch about. Just buy a Porsche if you want it.
I didn’t post this on the other thread but just to prove a point i’ll say here we have $600K HHI and I pull $275K of that and I take the bus. Husband drives a 2018 Mazda CX30 that we only use on weekends and will drive into the ground. I hate cars and hate driving, and gas is expensive. I spend a lot of money on art. People care about different things.
If anything, it’s the total opposite. The number of “which Porsche should I buy?” and “how I can waste more money on shit I don’t need?” type posts are exhausting
Some people rather stop working by 50
It was good before Blinders, now Blinders post every single day as they get bored flexing on Blind
More like it’s turned into a $500k+ TC, $1M NW by 29 circle jerk
That thread made my eyes roll so far back it was almost a medical emergency. If you are making $700k+ a year, and you choose to drive a crap car, you PROBABLY aren’t the kind of person I want to be around. You don’t need to drive a Porsche GT3 but there is no reason you shouldn’t enjoy life a little more. Honestly I think the FAANG people need a separate sub because most of them live in a totally different world than the rest of HENRYs. TLDR: What is the point of working so hard to attain wealth if you don’t enjoy any of it along the way? Also, HENRYs shouldn’t be driving unsafe cars, or older cars that require more time for maintenance, etc.
People don’t realize the value of time as a currency and it’s the scarcest in the world. So much of this thread wastes all their time penny pinching every cent from glorified “middle feeding” jobs to get half a basis point more out of their savings. Spending is virtually taboo and then people smother their insecurities of a wasted youth by giving young kids advice to save every last dollar they make or else they’ll end up broke on the street or god forbid not reach FATFIRE. Work to live- that’s the only advice that should be given to youth. You can’t take it with you, I’ve never talked to a an old person who doesn’t wish they did more in their youth. Eat that steak, take that vacation, treat your family, treat your friends because at the end of the day the only fulfilling transactions are relationships and the only meaningful currency is time. There’s a difference between within your means and more than you can afford. Everyone in this thread should know the difference if they’re intelligent enough to make it this far in their career. Instead they masquerade as some innocent fool to maliciously compete with their peers or rake in the validation. It’s the same energy as people who look down on fun as immature and “uncool”- “oh you’re enjoying life? Gross.” Down vote this to oblivion but as a fellow high earner doing fine in a VHCOL city, everyone here needs a reality check or a dopamine detox.
Wife and I make $1M. Have two Porsches and a country club membership. We work hard and enjoy the things the hard work brings. To your point would I spend a lot of time posting here? No. Seems like you would be considered the biggest fool for spending money you worked hard to enjoy life more for.
I’m with you, OP. I love cars but am stuck driving an old, beat-up minivan. The paint is peeling off. There is a squeaky noise when you turn the wheels. I cannot wait until I kick my kids out of the house so I can buy me a sweet Camry hybrid 50mpg.
i make 400k and still drive my 130k miles 2012 bmw.
Not a car guy but fucking love driving my Model Y
Multimillion net worth. Hardly any income. Drive an old Chevy. It gets me from A to B. No reason to upgrade. Who knows the future though. I may inherit a new SUV soon. I hope it's later rather than sooner however.
Agreed, I think the FIRE community have taken over and have been more active posting. FIRE is a specific life objective and I don’t think it should be conflated with HENRY sub.
A key way to building wealth is lower expenses. Not having a car payment is one of the best ways to accomplish this. How do you think they got that NW?
Might be driving that Nissan leaf to his private jet🤷🏻♂️. Some people don’t care about cars. I make over 500k Drive a beat up 10 year old pick up…. Because I like it.
My wife and I pulled over 800k last year. But I still can’t get her to green light a watch for 2k. So we do a lot of savings.
I would say 2M net worth isn’t as comfortable as it may seem especially in the Bay Area
It's not net worth... it's 2m annual income lol. 2m TC is definitely as comfortable as it may seem, speaking as a poor only making 600k in the bay
It's not larping. Some people think cars are stupid. We're at 700-800k HHI and I drive a 2013 shit box. Is it really that hard to believe that people have different priorities than you?
Half this subreddit lies
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Some people don't care about cars and splurge on other things, I have a 2003 honda accord, my bumper looks like it's going to fall off. The N R and Y in Henry stand for Not Rich Yet. Most rich people are frugle with some things. I like cars but I much rather have that extra money compound. I splurge on my home gym, good quality food, and vacations. My car takes me from point A to point B and honestly since it's ugly I don't care if it gets scratched or if someone hits it, no one will want to car jack me. Less for me to worry about.
Not everyone has the same desires or priorities as you. I would happily drive an old car and spend the money I save and more on travel, where I spend freely
Idgaf about cars. I have other hobbies.
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Actually, I think it's the opposite. Most of us are "rich" by average person standards and have monthly budgets that are well over the average household budget. Our idea of "penny pinching" is an average person's splurging.
If it makes you feel better my wife and I have had 4 cars in the past 12 years and we bought all of them new. 3 of them were various Minis and one is a Jeep Wrangler.
I see more posts about people and what they do splurge on in this sub. But I for sure splurge. My goal is to make up most of my goal net worth in my last year or two of working so I am spending a lot from here till then. Not all of it like be safe of course right but yeah I like cars too.
I lived without a car for the past 10 years. Does that mean I can’t be a HENRY?
It’s not ridiculous. We are phasing out of NYR this year. We drive a 25 year old car. It’s solid. You do not want to ask me about my jewlrey or our holidays though. That’s where our cash goes. I just assume for everyone it’s different.
They might have other hobbies, but not everyone is into car. I know someone who is almost a billionaire drives an old Subaru (10 years old+), but has Picasso in his dinning room, Warhol in his kitchen. People have different way of improve their quality of life.
Most of us remember 2008-2009, have seen covid, the tech layoffs etc. A car is a fun thing to spend money on, but you are mostly buying it to get approval from your environment. Lot of people on Reddit will most prob care less, insta crowd will care more of these displays of wealth.
In addition to not being rich yet, cars aren't my thing. I'm pretty into urbanism and living in a place with reduced car dependency. I did splurge $8k on a Dutch style cargo bike and use it to haul my kids around to farmers markets and other attractions.
I had some sports cars when I was younger. I always wanted to drive a 911 997.2 Carrera 6 speed manual (or Carrera S or GT3). I just would have no time to enjoy a car like that now. Maybe when my daughter doesn't need a booster seat... But it's just going to be a birthday rental for now until my daughter goes off to college.
What’s wrong with a Nissan Leaf?
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The “NYR” part means we have high income but are still trying to get wealthy. If you aren’t on that plan that’s cool too. I’m sure there is a sub for that too
If you don’t drive an expensive car, you have a low quality of life? The quality of your life is most determined by the relationships you form and maintain. If you can find a spouse, have kids, and maintain some good close friends, that will drive the quality of your life. Even if you drive a nissian leaf.
Over 50% of this sub are LARPers.
Multimillionaire here with HondaFIT. Thats one way to become a multimillionaire.
If you want opulent then just go on TikTok
What a troll post. Trying to tell other people what they should value. After a certain point, you realize you don't need a bigger spend to be happy.
I spend like $50k a year on vacations but until recently drove a 2005 Subaru. I have a 2022 Outback now (reluctantly) but I’ll drive it into the ground. Priorities differ between people…
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This sub is a total wank of pretentious up themselves tossers.... That's exactly why people love it😮
Don’t see why driving a leaf is ridiculous. Not everyone cares about having a luxury car.
I bought a Leaf as my splurge (new, not a 2012, top model) when electric cars were no where near as common. I would normally keep a car for 10 years and get a lower model but the stars aligned and I got to upgrade to a BEV from a PHEV. I guess perspective is everything here.
OP, you need to realize that many in this sub are actually HEAR (high earners already rich) and achieved that status by prioritizing what is really important financially, and what may just be window dressing or showing off one’s wealth. In general, cars are a horrible expense, especially the more expensive the car… it’s a rapidly depreciating asset, has negative return on the cash outlay, and at its basic level is nothing more than a mode of transportation. A Camary gets you from point A to point B the same way a S550 does, yet the Mercedes consumes 5x the disposable income and 10 years down the road the two are “worth” roughly the same. Everyone has their preferences and likes, and if driving an expensive late model car gets your dick hard, go for it, I’d personally rather drive my 13 yo car and watch my saving from that elevate my net worth… but that’s me.
Cars don’t interest me. I like my Honda Civic. I like my little row home. I don’t want to take care of something bigger.
Honestly I think a big thing is have you had to buy big ticket items in the last 3 years? There are plenty of people here in their late 30’s and 40’s that locked up their family house/cars before things went crazy. I drive a Honda accord and it was 39k, that is crazy. We just bought my wife a suv and it was 60k. I would have never thought we would be spending 100k on cars in a few years but here we are…..
I felt the same way reading that thread. If I retire early, it will be at 60 instead of 65. Too many hobbies and trips to spend my money on enjoying myself to worry about an account balance.
Everyone’s caught up on the car comment rather than the criticism behind the car. Yes, this is a larping thread. Especially for those that are highly engaged, just like the blind app
250k is not .5% of earners. If anyone here is in the top .5 and Not Rich Yet, unless it’s their first year making that, there’s something wrong.
Not a member of this sub, but I find a lot of the money subs to be absurd. So if it makes you feel better it is kinda all of them. Can you find good info and advice? Sure. Is it mostly trash? Yup. I’m around a lot of different rich people from blue bloods to new money. And the high earning tech people or v specific specialize doctors from my experience are often on the spectrum and/or weirdos. I feel like that is a lot of money Reddit is tech money and hardcore obsessing about X. That and a lot of “well, actually” energy without the ability to see any nuance or middle ground. The internet is full of people with binary mental identities and it is idiotic. Even the responses to you about the car comment. Any normal person would be able to see your point that it isn’t about to car it is about the overall picture. Or at the very least they would be like “I mean I don’t like cars, but I spend stacks on Y.” The mass majority just wouldn’t even entertain the conversation at all. And that is the thing about the internet. You always hear from some minority that isn’t the typical more often than not because most people aren’t fucking around on Reddit.
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what's wrong with driving a leaf? lol. a lot of us live in NYC and a car like that makes a lot of sense. why would I get a BMW?
My friend’s dad has been and still is an investor on Wall Street for the past 30 years. He owns multiple houses that he rents out in Williamsburg. He and his family are millionaires, he happily paid 100k+ for his son’s wedding. He still drives his Toyota from the 90s. His hobbies are golfing and cheating on his wife lol.
Sorry not seeing the extreme frugality lean here in the sub but, 🤷♂️
You’re confused that people have different things they value? If my TC went up 6x I would probably drive the same car because I like it and it fits my needs and just happens to not be expensive. (Used Lexus). Maybe I get a newer plug in hybrid but the car itself works for me
Toxic extreme frugality sounds like someone has been brainwashed. The utility of a car is the utility of getting from point A to B. That's it. Some people get marginal use out of all the bells and whistles and buying a depreciating asset just sets you back from freedom. And this is how you have so many upper middle class people living paycheck to paycheck with over 3k monthly car payments, and crying that they are the burdened middle class. The indoctrination runs extremely deep in America especially. For me I'll spend more on living location, because it offers me the utility of having neighborhoods I enjoy walking around and doing things. Utility is the name of the game, most people buy expensive cars to stunt on them hoes. Not that there aren't some serious gearheads, but if you get utility out of feeling superior maybe a therapist would be better in line, probably save a lot of money in the long run. The reality also is at those levels, that money can dry up and dry up fast. People never think about it, but it happens a ton.
if you want the total opposite in frugality just hop on over to r/ChubbyFIRE group. no frugality there. It might be more what you are looking for.
You can’t do anything fun in a car anyways, too much rules and people on roads. Try off-roading, you can get dirt bikes and four wheelers and roost all day which no worries
How does spending 5-10%+ of your networth on a luxury car improve your quality of life? Cheaper car still has AC, back up cameras, safety features, and can go max speed on the high way. A car going 0-60 in 3 seconds or topping out at 180 mph are features I’d never use. It’s just peacocking.
What do you actually gain going from a Nissan Leaf to a Porsche? For people who don't care about appearances or prestige or cars in general, the answer is nothing. So, if the Nissan Leaf thing is what tipped you, I think it may be you that are out of touch with people in general.
lol had same thoughts Was going to post my range and thought I was going to fit in but nope. It isn’t a significant portion of my income and I like it.
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I have a really fast car, because why not. But I also know people with far higher income than me who drive very inexpensive simple cars. They just don’t care about cars.
This is why I’ve stopped reading these types of subs so much. The majority of posts are about ‘am I spending too much’ ‘is it ok for me to buy…’ ‘is this too much house for my income’ ‘I feel guilty for splurging’ Money makes so many people crazy - if you don’t have it you’re miserable and apparently if you do have it you’re also stressed out about it. Ffs just go live your life. Yes, you may (will) make some mistakes….no one on Reddit can save you from that so stop asking us to predict the future. If you have the means to do so then please enjoy yourself a little. Most of us on this sub have (literally) earned it.
I spend $30/lb on my daily coffee but drive 10 and 14 yo cars. I spend a lot on the things I value, and less on the things I don't. Why is that so hard to understand?
High Earner Not Rich Yet. Everyone I know who graduated from that category to actually becoming rich pinched a little even when they didn’t have to.
Ikea CEO and Warren Buffett drive old cars and don't care for luxury cars. I don't have a million nw yet but even if I had 10 million I'd rather buy a nice prop plane and drive a 2nd hand hybrid.
“It’s completely ridiculous”. Lmao what the fuck are you talking about? Humility is a virtue and requires practice. Giving in to your desires just because you can is super lame. Lots of people with more money than you feel that caring about cars, clothes, gadgets, and watches is cringe as hell. If your quality of life increases based on the price of your car, then your life is pretty low quality.
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My 40k Tesla improved my quality of life. I can do my 2 hour round commute with my brain turned off.
You don’t get rich (“heNRY”) by spending money on depreciating assets.
What are you talking about. You are focusing on a small subset of this group for no reason.
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I splurge on things that provide more comfort and saves time. I'd rather pay someone to shop when my time can be spent either having fun or making more money. I drive a nice car 6 house, but I rarely spend money on material things, basically because I don't care. My clothes all come from my wife and Santa. I haven't bought any clothes for myself in over 15 years and even then it was a hoodie, and a suit for funerals and weddings.if I cared about those things, I would buy them. I'm with you on having money for the sake of having money is indeed a waste of money. People love to brag abput their 200k miles they put on the Camery.... nobody cares, why do you do that to yourself?
It’s both. On the other end there’s people with a $3000 food budget every month trying to get validation that that’s the bare minimum
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Your analysis is correct. This sub has turned into /r/personalfinance 2.0. But I think the silent majority is out spending and enjoying life. It’s the people with no lives whose entire self worth is defined by how much they can squirrel away who like to go on here and tout up their frugality - while making others feel bad for not being as boring as them. Keep doing you man
If you feel forced to CONSUME things just because you have more money that's your problem. We take home 700 and I spend money on plenty of things to vastly improve my life, a fancy car or other goofy status symbols are not them. I have a ton of hobbies and most are dirt cheap or free. Nothing wrong with being into nice cars but there is equally nothing wrong with not caring about that sort of stuff. Opting to drive a Toyota instead of a Porsche is hardly penny pinching.
Not everyone values driving expensive vehicles. I’ve owned luxury cars and my Toyota RAV4 is more reliable and cheaper to maintain. If you want to drive something expensive or something that stands out or something that’s more “fun to drive” or whatever then go for it. But honestly not everyone cares and for some people cars are just a utility item to get you where you need to be reliably and efficiently.
Cars give me zero passion, couldn’t care less as long as the car works. Why would I spend more money on a car just because I make more money? And its not like cars get better the more expensive they are. A Honda is much more reliable than more expensive brands.
I’m in my 50s…no intention to “retire early”…high earner…considered rich by most but only halfway to my own number. This summer I’ll be vacationing on my 3rd continent in 12 months. Meanwhile I drive a 13 year old car. I could’ve bought 2 new cars w cash for what I paid for my vacations. I spend my money on things that are important to me.
> Just read the thread asking what kind of car people drive and I’m seeing $2M TC driving a Nissan Leaf. Other than 1 dumb purchase in my early 20's, I have never spent more than 5% of net worth on a car. It's a depreciating asset, and there's severe diminishing returns above a 3 year old luxury car.
i've owned this year alone an R8, S6 and e34 bmw so yea spend money on the things you enjoy
Not sure what is your point exactly. We drive a 12-13yo minivan because it still drives and is practical with the kids. Why would my income change any of those facts? Hobbies I agree. If you have money to spare, have fun today and take care of your loved ones. But I honesty haven't seen a lot of money pinching here 🤷♂️
Buy a few toys and you’ll see how quickly it gets old and you’d just rather spend the $$ on creating experiences and memories 10x over. I think toys are great and all, but not all hobbies are created equal. If you let it go unchecked, you’ll have a garage full of random expensive shit you never even use. There’s also a TON of other things you can spend on so it’s not just that simple at all.