View Single Post
      10-22-2015, 11:21 AM   #19
sandwi54
Major
sandwi54's Avatar
United_States
538
Rep
1,201
Posts

Drives: G07, F90
Join Date: Sep 2014
Location: California

iTrader: (1)

Quote:
Originally Posted by Myfirstbmwinsertcodehere View Post
I'm now finishing my MBA and am 25. In the states, the stats. say that I will be able to get a job with AT LEAST 115k salary, since my B school is in the top 20.

My school was kind of cheap, like 30k annually so I really don't have much of a debt. (Undergrad was free because my parents are professors)

Anywho, that huge salary is in the states, in PR, success pretty much comes from building your own company.

Money aside, because that won't be that much of an issue later on, some of you guys have a point in the "stage of life" that I am at, yet, we only live once, and life could end at any moment.
Glad to hear you are making the right decision by staying with your civic and not spending the money that you don't yet have on a BMW.

However, not to burst your bubble, but the salary that you think is "huge" (115k or whatever you think it'll be) is not really that much. To make 115k right out of college, you may have to live in a metropolitan area (NYC, San Francisco bay area, etc.), and rent/real estate prices are very high and that's where most of your paychecks will go into, not cars. If you make say 115k and try to buy a 70k car, you'll soon find yourself strapped for cash flow, assuming you will also try to own a house and make mortgage payments.

A good rule of thumb is that the cost of the car should not exceed 1/3 of your total salary, if you want to comfortably own it and still have cash to do other things in life. As a point of reference for you, I own a 70k M3 and I make well over twice the "huge" salary you stated, and I graduated from the #2 school in the country (or world) in my field.
__________________
2022 X7 M50i Phytonic Blue
2019 M5 MBB (wife's DD)
Appreciate 0