Rich Jeepers

jack bauer

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That's a fantastic bike!! I'm on a Beta 520RS dual sport and my Super Tenere. Only mellow riding when I get back in the saddle. I'm currently healing up from non motorcycle related injuries.

My wife and I are looking at a 4wd for the cabin she inherited up in the mountains. We are looking at 4Runner, Rubicon 2 door, and kind of looking at Bronco. But I'm not a fan of Fords reliability. We are making do with my truck for now....
Can't go wrong with a 4Runner, but not all that exciting. Mine served me well for the 5 years I had it.
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TCogs1

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My view, stay stock ( mopar lift included) look for take off rims and tires from other jeepers - hammers folks… you can do all trails in kali…. Keep it simple, don’t get pulled into the after market slippery slope….
 

JasonInDLH

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I’d Rather Talk Jeep’s!
I had no idea. Good for me to learn something new. I have not had credit cards for going on 15 years now. I would still read the terms and conditions very carefully; Even in these modern times when the CC companies are being so honest and forthcoming.

I do not trust any company who is so willingly wanting to hand out credit and free cash. As my grandfather said: The big print gives it to you and the fine print takes it away!!
I disliked credit cards up until 12 years ago when I realized I can get some nice rewards. The credit card companies simply charge the businesses a percentage on each transaction (some businesses higher and some lower depending on certain conditions) and in return pass some of that profit onto us consumers for using their card. Win win for everyone involved IMO. You can purchase travel related items (for example) on CC to increase your rewards amount and then go back and credit yourself for those expenses. Works pretty slick. Definitely not good for people who don’t pay the monthly statement in full, however. Then you get tacked with that crazy high interest. And can find yourself in serious trouble (like my sister did 😬).

Not only that, having a CC account open a longer time (moderately impacts credit score) and with no late payments (high impact on credit score) helps with your credit score. Which, in turn, scores you better interest rates on auto loans, mortgages, etc thereby saving you thousands of dollars if your in that boat of obtaining loans and things. Maybe you simply use Benjamin’s 😉.

If you can score just 0.5% better APR due to a better credit score on a $240,000 loan for 30 years you’ll save $22,800 in interest payments over 30 years. Another win for having a good standing credit card account! 🙂

And have I mentioned how strangely easy it is to buy Jeep parts? 😂
 

wibornz

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Come on now. I've purchased a ton of motorcycles over the years..all in cash. I've never ran across a deal so great as to save 4K by merely cashing cash. Are you stating you saved 4K on the Tenere solely due to paying cash or was it just marked down because it was a new left over or something of the sort?
I have bought many motorcycle, atvs, SxS and snowmobiles for cash. Never paid close to MSRP. It has nothing to do with paying cash or not paying cash. I have had dealers ask me to finance them so they could get the finance bonus and then pay them off after they got their commission from the loan. When I say a lot, like 30+ machines over the years.
 

Gunfighter

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Are you aware that there are many cool things to do other than working that you can't do while working?
Yeah, am aware of a lot of things. I enjoy what I do. My work doesn't stop me from doing other things that are enjoyable. Thanks for your concern. Oy.
 

tk1700

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I disliked credit cards up until 12 years ago when I realized I can get some nice rewards. The credit card companies simply charge the businesses a percentage on each transaction (some businesses higher and some lower depending on certain conditions) and in return pass some of that profit onto us consumers for using their card. Win win for everyone involved IMO. You can purchase travel related items (for example) on CC to increase your rewards amount and then go back and credit yourself for those expenses. Works pretty slick. Definitely not good for people who don’t pay the monthly statement in full, however. Then you get tacked with that crazy high interest. And can find yourself in serious trouble (like my sister did 😬).

Not only that, having a CC account open a longer time (moderately impacts credit score) and with no late payments (high impact on credit score) helps with your credit score. Which, in turn, scores you better interest rates on auto loans, mortgages, etc thereby saving you thousands of dollars if your in that boat of obtaining loans and things. Maybe you simply use Benjamin’s 😉.

If you can score just 0.5% better APR due to a better credit score on a $240,000 loan for 30 years you’ll save $22,800 in interest payments over 30 years. Another win for having a good standing credit card account! 🙂

And have I mentioned how strangely easy it is to buy Jeep parts? 😂
Not to change the subject or hijack the thread, but the rewards credit cards aren't a win win for everyone. I'm a manager at a small family run business. Credit card fees really make our bottom line take a hit. We add a 2% surcharge on credit card purchases to help off set this. We tell customers before adding the surcharge and most don't care as they are getting more than 2% back.

In our younger days my wife and I used to look at all the older people driving cool old cars and talk about the rich old farts and their toys. Now we are retired, and far from rich, but just the other day driving the naked JLUR a young guy in a beater looked at us and my wife said we are now those old people in a cool ride.
 

OllieChristopher

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Not to change the subject or hijack the thread, but the rewards credit cards aren't a win win for everyone. I'm a manager at a small family run business. Credit card fees really make our bottom line take a hit. We add a 2% surcharge on credit card purchases to help off set this. We tell customers before adding the surcharge and most don't care as they are getting more than 2% back.
Very well explained Tom. It is one of the many reasons I quit using credit cards. And these attractive "cash back" cards are going to bite back when the user least suspects it.

I have found it is so much easier to deal in cash with almost any transaction large or small.
 

Iguanamann

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LMAO I thought the same thing at times. Thinking a lot don't have much more than a Jeep.....lmao
 

jack bauer

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I have bought many motorcycle, atvs, SxS and snowmobiles for cash. Never paid close to MSRP. It has nothing to do with paying cash or not paying cash. I have had dealers ask me to finance them so they could get the finance bonus and then pay them off after they got their commission from the loan. When I say a lot, like 30+ machines over the years.
You are preaching to choir here. I know it has nothing to do with paying cash or not.
Also MI buying is a bit different than CA as far as wiggle room on dirt bikes, at least for the hot models. No clue on SxS (you don't want to get me started on that) or snow machines. And yes, many times the sales guys do make more $ when financing, but I am not mucking about with them having them pull credit just to get them a few extra bucks in their pocket for such a transaction.

Also, to put this into context. The topic was a guy bought a new bike for 4K under sticker, merely by paying cash. I personally have never seen such a thing, unless it was on undesirable a new left over, which he advised wasn't the case. So the contention wasn't just "not paying close to MSRP". It was...bike was sticker at 16k and he got it for 12K because he offered to pay in cash.
 
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dgoodhue

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I’m wondering if you are considering the tax rate difference between what you’re paying now. Versus what you will pay when you retire. When you retire you’ll probably have much less debt, your kids will be grown and moved out,your mortgage will be paid off. Your cell phone bill and car insurance will be cut in half ( kids!,) and your real expenses will be greatly reduced.
For example, If you’re working and earning $120,000 per year you can expect the federal tax rate on $120,00 to be about 28.6%…the federal tax rate on 45,000 is about 18.7%
That’s a big difference! ($34,300 vs $8400) per year
There’s your jeep payment!
Of course I could be way off on these assumptions..
You have the right concept for considering tax rates when make 401k vs Roth. I see lot of recommendations for ROTH that I do not agree with.

If one makes $100k (single)/$200K (married), currently the effective federal tax rate is ~15%. The top tax rate is 22% for this income level. This means for $100k, one pays 15K in taxes, retirement contributions would be made 22% which is deduct from your tax liability. In retirement if your income was $100k, you be profiting 7% for this scenario.

If you made $200k (S)/$400k (M) your effective tax rate is 20.5%. This means even if you made double your money you would have been better off making pretax contributions when making six figure salary. I do fully expect the tax rates to go up. Most people end up making less money in retirement. I started off as an engineer, my tax tax rate right out of college was 28% in the late 90's. There is no way I will be paying a effective tax rate of 28% in retirement.

For many it does make some sense to make Roth contribution when starting out and only pay a 12% tax rate especially if they expect to be in the next

For the record, I make my 401k pretax contributions, I make Roth IRA contributions as well. I expect to make a large purchase when I retire, so I want some already taxed money.
 

rent

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I got one thing to add. For the (aspirational) rich jeepers who are still in the wealth accumulation stage: mega backdoor roth.
 

dgoodhue

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Not if the wife earns what you do -- that doubles a man's income. And having kids kind of gives meaning to the whole living thing.
My ex-wife earned as much as I did. The problem is that she spent $20k more than she earned which I had to compensate for.

I am not rich but I make decent money as an engineer. It isn't always about how much money you make, it is about how much money you have leftover. High credit card interest robs you of your wealth. I have a budget and I prioritize how I spend my money. I am a goal oriented person, I have list goals I want to attain and save money and invest towards those goals.
 

dgoodhue

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As for the cash is king, it gives you a lot of flexibility for when opportunities exist.
 
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wibornz

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You are preaching to choir here. I know it has nothing to do with paying cash or not.
Also MI buying is a bit different than CA as far as wiggle room on dirt bikes, at least for the hot models. No clue on SxS (you don't want to get me started on that) or snow machines. And yes, many times the sales guys do make more $ when financing, but I am not mucking about with them having them pull credit just to get them a few extra bucks in their pocket for such a transaction.

Also, to put this into context. The topic was a guy bought a new bike for 4K under sticker, merely by paying cash. I personally have never seen such a thing, unless it was on undesirable a new left over, which he advised wasn't the case. So the contention wasn't just "not paying close to MSRP". It was...bike was sticker at 16k and he got it for 12K because he offered to pay in cash.
The bike he bought is not a popular model. I even thought about buying one at one time. I am not surprised that it was 4k off MSRP. The bike is a niche bike. You could very well go your whole life and not see one on the street.

They look like this.

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I tried to like adventure bikes, but at the end of the day, I could not talk myself into buying one. I rode several different types of adventure bike like the BMW GS, the Triumph Tiger, the Yamaha Tenere 1200. They just did not do it for me. The are sweet bikes, but just not for me. At one time the plan was to retire and ride a motorcycle to Alaska, but then I switched to Jeeps. I have motorcycled all the lower 48 states and had dreamed of knocking Alaska off the list. In the thinning of toys, I sold my last street bike in August of 2020. It was a Concours 14 with approx 85,000 miles on it. I am also a member of the Ironbutt Association. I had dreamed of doing the Ironbutt Rally, but after seeing a friend of mine buy a new BMW GS1200 and spend $35,000 to prepare and then do the rally, I was like nope. If you are a motorcyclist and want some cool reading do a search and read about the Ironbutt Rally. Riders will average over 1000 miles a day for 11 to 12 days. It is very hardcore. The farthest I have rode is just over 1200 miles in one day. From Michigan to Deadwood SD in one day. There are guys in the IRonbutt that do 1500 miles in one day on a motorcycle.
 
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