IZoomZoomI

It depends, my folks lived in the bay area (comparable to socal living if not worse) and make peanuts. Around 70k combined too, dad drives a TL mom drives an accord had two houses at one point. It's about budget making a way with the little you have, and it's common sense people that make more spend more, people that make less spend less and the end its still the same. Sure people better income live in nicer bigger houses, also have bigger debts.

A degree won't hurt and it's not a requirement to be a businessman or entrepeneur. but sometimes like in this case it's really about who you know and not what you know. When this kid grows up he probably will inherit the company and make a whole lot more that 18/ hour.

Outlaws eXtreme

ZoomZoom, not saying he can't ever be rich... what I'm saying is... I doubt he could make his own money/living in a luxury area if he did it on his own without a college degree.

Would you impress people if you told them your parents bought this for you, or paid for that etc?

I can imagine it now... You're at the age of 35, driving your M3, looking stylish etc... taking a fine girl out on a Saturday evening... you pull out your credit card, the girl asks you...

"Wow you sure are making a good living.."

You respond, "Ya, my dad and mom pays for the bills."

"How about the car out there? You didn't buy it yourself?"

You say, "Ya of course I do, I make payments every month, my parents simply paid for the 30k down on the car, and pays for the insurance."

So you two drive home, and think you're going to get some tonight... get to your room, starts taking off the clothes... then she notices you have comic book characters on your wall, and have action figures all over... clothes on the floor, etc...Suddenly you hear.. "BANG BANG BANG, Shut the hell up in there Jimmy boy!!"

She asks you, "Who was that?"

"Oh my dad.. he gets upset when I make too much noise."

She says, "Your dad? This isn't your house?"

"Nah, but it's ok, some day ALL of this will be mine..."

Impressive.

Outlaws eXtreme

I doubt you can live much in OC (Specifically Laguna Beach/Newport Beach) making 70k, owning 2 cars, have kids etc... Maybe a small apartment or something. No way 70k a year can buy a house in "The OC" area. I can't even begin to count how much house payments would cost.

Just asked my friend how much he just paid for his home in Mission Viejo, south of OC a bit... paid 725k in a new area.

IZoomZoomI

is an average home in OC 700k !! dam that would suck, but I would imagine salaries are higher in that area and the houses/properties are larger. Kinda like san francisco where the minimum wage is probably one of the highest in the nation. Yea my folks bought a house for 500k lil under 1500 sq ft. Two cars, all the kids are doing there own thing and living on there own. When it comes to living in cali you better be resourceful lol :D.

Outlaws eXtreme

Ya, I wouldn't dare live in the OC yet... it's too scary. Prices on average for a decent home is AT LEAST 600k+... average is more like 750k or so to 1 mill. Wages there are just like anywhere else... must be the shopping area, or the view or something.. maybe it's where the rich park their yachts in Newport.

Minimum wage there is still about 7.50 an hour or something... so it's not like the HS kids there are making 15 bucks at McD "The OC" style..

G8rboy

Ain't that the truth... that's a little less than what I was making when I got out of college back in '92, and I thought it was huge, but we were living check to check. 13 years later and 4 times that we're still finding a way to spend it as fast as it comes in. It's all relative.

As for the education topic- I do see a lot of guys with degrees that use that as a security blanket, and don't try to push themselves further. I'm a big believer in quality work experience when I interview people- I've hired some good people that didn't go to college and turned them into quality IT workers making $70-80k... so it is certainly possible. I've also hired fresh-out grads from college and have been disappointed in how unprepared they were for the corporate world.

Personally, I'm not the type to be satisfied and am always learning- I got certified on as many things as I could in the 90's with computers (CNA, CNE, MCSE, MSCD, etc) as a hobby, and am now completing my second bachelors (different field), and will be starting on my MBA next year. With most large companies there's definitely a ceiling you'll bump into without grad school experience, let alone a 4 year degree.

Just my $.02...

Denzalo

600k home? Try 200k for a decent 4 bedroom house here in the boonies (Nebraska) lol.
Like I said before, its all in the earn vs spend ratio. Take your 100k job and bring it to Nebraska and you'd be living it up.

MI_FamilyMan

And the only part you left out was how looking back you really appreciate everything your Mom did for you and how she was so right. She basically helped you establish the goals that you have for yourself today, right? At least that's the way I look at my own situation. I owe everything I am to my parents... you gotta give props to Moms...

legokcen

~$37,440 without overtime. Get an engineering degree and you can have a starting salary twice that. I did.

MI_FamilyMan

I think a big part of building wealth is also what you save and how you save it too. A lot of "run-of-the-mill" folks can accumulate a lot of wealth over the years putting their $ in the right places without having to accumulate multiple college degrees. Lots of different strategies... it's just how well do you execute?

I, Claudius

This is a terrific thread. It's nice to come across an interesting argument/discussion that's not about politics for a change.

The crucial question has yet to be answered, though. I want to know more about BMW Man's carp damage. What's up with that?

G8rboy

If I remember right he pissed some kid off in high school, who retaliated by throwing a carp on his fender. Ahh- here it is:

https://www.rx8club.com/rx-8-discussion-3/had-bad-experience-parking-lot-today-got-tire-question-25948/

I, Claudius

Thanks, G8rboy. For some reason I thought an explanation would make it seem less weird...

Gord96BRG

Cool! I hereby claim credit for the best RX8Club forum thread hijack EVAR! :p :D

Regards,
Gordon

G8rboy

The truth is often stranger than fiction... :D

GiN

...isn't a carp some kinda fish? I'm still rolling around trying to imagine why someone would show up to school brandishing a large aquatic animal. Don't kids use shotguns nowadays?

BTW Troy I think you should just trade your M3 for your dad's Z8. Oh and those rubber floor mats I got from you came in real handy these past few weeks - it's been pouring buckets here in LA. :-D

G-ReX

Maybe your prize Koi on the fender is the Yakuza equivalent of the horse's head in the bed.

Outlaws eXtreme

I give her mad props.. bought her a car :P A Benz.

MI_FamilyMan

Wow... very nice. Bet it was one of the better feelings you've ever had. Congrats.

Maybe if my Mom drove I might buy her a car... but probably something I could actually afford... :p