New car for the wife... and I'll drive too - MVAgusta.net
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post #1 of 37 (permalink) Old 08-12-2016, 03:23 PM Thread Starter
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New car for the wife... and I'll drive too

Well, with my wife's lease coming up to an end this winter, and me browsing what our next purchase would be, I found a deal I couldn't pass up. A 2015 Toyota Prius V Five with every single option offered... with only 3,300 miles.... in sea foam green pearl... just kidding, I can't remember the exact name of the color. Anywho, we should be picking it up soon. I know this is Randy's favorite car also


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post #2 of 37 (permalink) Old 08-12-2016, 04:40 PM
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I know this is Randy's favorite car also

Agree, we all know Randy is a tree huger down deep inside.
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post #3 of 37 (permalink) Old 08-12-2016, 05:14 PM
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I wouldn't swap a Prius for my wife

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post #4 of 37 (permalink) Old 08-12-2016, 06:20 PM
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I know this is Randy's favorite car also
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Agree, we all know Randy is a tree huger down deep inside.
Curtis, I hereby revoke your "Man Card". Driving a Prius is like dating an ugly woman......you'll do it if you have to, but you don't want anyone to know it.

Geeeeze man, I'd rather have a sister in a house of ill repute than drive a Prius.

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post #5 of 37 (permalink) Old 08-12-2016, 06:58 PM Thread Starter
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Once I get her through law school, and have a couple nice paid off vehicles, then I will make up for it with a glorious Dodge Viper... until then we have to stay buckled down and think about every dollar!! Besides, we have two MV's and an RC51... that's like 2 man points for each of those.

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post #6 of 37 (permalink) Old 08-12-2016, 07:57 PM
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Curtis, I hereby revoke your "Man Card". Driving a Prius is like dating an ugly woman......you'll do it if you have to, but you don't want anyone to know it.

Geeeeze man, I'd rather have a sister in a house of ill repute than drive a Prius.
AMEN.

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Once I get her through law school, and have a couple nice paid off vehicles, then I will make up for it with a glorious Dodge Viper...
Curtis, I spent the past several years preparing for, and ultimately getting a daughter through law school. It's only a panacea for about one in seven law school students. Unless your are paying cash for tuition, you're getting education loans to pay for law school. For borrowers, it's a front loaded debt commitment that six of seven students are not able to recover from for a decade or more.

If your wife is on a track that provides strong odds of making her one of the seven, enjoy your 2022 Dodge Viper. If she's not, and you're getting education loans, your Prius payments will be the tip of the iceberg of the debt that you will see in the 2020's.

Start here: Bimodal Salary Distribution graph below. If you've not looked at, studied, and understand the ramifications of debt service against the likelihood of graduating with a $45,000 a year job, this is only the beginning of what you need to understand before spending money on a law school education.

Sure, about one in seven grads get the $160K job (actually the bar for biglaw moved from $160K to $180K this year), but most get the $45K-65K job. How much is a non-dischargeable monthly payment on a law school tuition loan against a $45K-65K salary, before tax? If you don't know this number, and are not paying cash for tuition, and aren't on a one in seven trajectory of law students who get biglaw jobs, you don't realize the impact of an expensive law school education on your future.

Even if you have the cash flow or savings to pay tuition without loans, you need to do the math on the likelihood of getting a $45K job after having spent $150-$300K on a law school education.

Don't mean to flood hopes, but know of too many people who regret the money they borrowed / spent on a law school education. If you want to talk the law school / career game, I'll be glad to share some of the research and experiences that I've seen. Be well.


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post #7 of 37 (permalink) Old 08-12-2016, 09:00 PM Thread Starter
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AMEN.


Curtis, I spent the past several years preparing for, and ultimately getting a daughter through law school. It's only a panacea for about one in seven law school students. Unless your are paying cash for tuition, you're getting education loans to pay for law school. For borrowers, it's a front loaded debt commitment that six of seven students are not able to recover from for a decade or more.

If your wife is on a track that provides strong odds of making her one of the seven, enjoy your 2022 Dodge Viper. If she's not, and you're getting education loans, your Prius payments will be the tip of the iceberg of the debt that you will see in the 2020's.

Start here: Bimodal Salary Distribution graph below. If you've not looked at, studied, and understand the ramifications of debt service against the likelihood of graduating with a $45,000 a year job, this is only the beginning of what you need to understand before spending money on a law school education.

Sure, about one in seven grads get the $160K job (actually the bar for biglaw moved from $160K to $180K this year), but most get the $45K-65K job. How much is a non-dischargeable monthly payment on a law school tuition loan against a $45K-65K salary, before tax? If you don't know this number, and are not paying cash for tuition, and aren't on a one in seven trajectory of law students who get biglaw jobs, you don't realize the impact of an expensive law school education on your future.

Even if you have the cash flow or savings to pay tuition without loans, you need to do the math on the likelihood of getting a $45K job after having spent $150-$300K on a law school education.

Don't mean to flood hopes, but know of too many people who regret the money they borrowed / spent on a law school education. If you want to talk the law school / career game, I'll be glad to share some of the research and experiences that I've seen. Be well.

Kevin... I appreciate your advice, although I didn't specifically ask for it. I'm sure you mean well, but every situation is different, and my wife has been in the legal field for 10yrs, and helped her boss (Mark, a certified trial attorney for close to 30yrs) start the law firm that he currently heads. There is one other attorney at the firm that came at a later time after it's start, so as far as seniority goes, she has it. Mark, his wife and family aren't just her "boss" though, she is like an adopted daughter (they have 4 kids, 3 actually adopted, none of them wanting to pursue a law career), she is treated VERY well, and is very well taken care of... not just in compensation, but in assistance with schooling, time off, taking on new and higher challenges withing the legal field at the firm, etc etc etc... it is a situation of an employment opportunity I have thought was only a myth, and literally the ONLY reason we still live in FL. She is past the $45k/yr mark now, even without a 4yr degree.

That background being said, she has been promised a partnership in the firm upon completing her law degree and passing the FL bar, and assured that in all likely hood, the lead partner when Mark retires. Also, prices for law school vary quite a bit depending on where you attend. We have been paying for he school as we go, and as she finishes her bachelor's degree... she, and we have no student debt. Actually, the ONLY debt we have is our home (plus the equity we have gained since it's purchase in 2009), and two cars...

I will pass this info along to her, and encourage her to seek advice from those she finds helpful, and encouraging, but the reality is, this is her choice, and her path, I'm just here to support her in any way that I can and try to make it as easy as possible for her to succeed. It's not easy with two kids, and both of us working full time, but she's one smart cookie, and she has the experience to back up the success of completing law school. We are not in a hurry, but also I don't want her finishing law school when she is 50. I hope you can understand where we are coming from a little better now.

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post #8 of 37 (permalink) Old 08-12-2016, 09:08 PM Thread Starter
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Oh, and I'm not buying a new Viper... not only because I have no desire to buy any sort of new automobile and absorb the excess depreciation, but also because who knows if they will even still be making it in 2022.

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post #9 of 37 (permalink) Old 08-12-2016, 09:28 PM
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Viper production ends in 2017. Better hurry.


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post #10 of 37 (permalink) Old 08-12-2016, 09:32 PM Thread Starter
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Viper production ends in 2017. Better hurry.


http://www.google.com/url?sa=t&sourc...cwfLtsknnaWsJQ
Ah, I had heard the rumor as well. Sad to see it is confirmed. I will still own one. You can write that down. Make sure you let me in on the betting pool as well.

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