PSA: The Daytona costs about $12,000

[dmash]

Originally Posted by Sandpit

Absolutely frightening stuff. I think I’ll watch the Big Short again next week.

Like I've said before......it's as if, EVERY time a hot market comes....people lose all their common sense, ignore blatant facts.......and completely forget history of markets.......'it's different this time, I'm telling you man!'. Sure it is....and I'm sure that the luxury watch market is completely resistant to any economic crash and will stand above the rubble, right?

I kind of feel these are the same people who will sell their portfolio in the downturn, claim the market is a dangerous gimmick, buy back in at a loss once the market recovers, and then are incredibly confused as to why over a 20 year time frame their money hasn't really grown.

[904VT]

Originally Posted by dmash

This annoys me to no end, but I mean, different strokes for different folks. I think it's a joke acting like going to school for 4 years makes one in any way deserving of a $10k Rolex, and sets up that individual's expectations in life to be quite disappointing. and I say that as a college graduate. Perhaps I just like to actually earn my belongings and not have them handed on a silver platter. Not to mention, I would NEVER take $10k of my parent's money for some tangible good, especially after they had to pay for my entire being for essentially 18 years. I would have told them to take that and go on a nice vacation.....I guess some people always are willing to take money from their parents?



Some figures:

-The average student loan debt after graduation is approx. $40,000/student.

-Total bubble is around 1.5 trillion at this point. 1.5 trillion....and this is encompassed not only of engineers, doctors, dentists, blah blah blah who have 100% ensured income post graduation. This figure is also composed of people who went for a Bachelor of Arts and didn't even graduate, and have absolutely NO way to pay back student debt making $12/hour.

-Well under 10% of the debt is in any way 'security backed', so defaulting to a lot of these people is a viable option.

-Something like 44million Americans have some type of student loan debt. More than 10% of the ENTIRE country, not just individuals in 20s and 30s, have student loan debt over their head.


And the above figures, grow exponentially each year, by as much as 10%. Absolutely no signs of slowing down.


Oh, and let's not even bring into consideration, that this is also paired with the fact of how Americans utilize credit moreso than practically every other country, and this year finally broke the 1trillion dollar threshold in total credit card debt.


I'm sure the future looks very bright though, and the millions and millions of 20-30 year olds carrying this kind of financial pressure will in no way affect the overall health of the economy

Why do you think it is there is such a bias against high-tech vocational education right now? That's something that has puzzled me to no end in the disconnect in skill sets and education choices going on. I'm not sure if it's the perceived stigma of votech or the desire to party on parents dimes that keep pushing the university education on each and every young adult.

[dmash]

Originally Posted by 904VT

Why do you think it is there is such a bias against high-tech vocational education right now? That's something that has puzzled me to no end in the disconnect in skill sets and education choices going on. I'm not sure if it's the perceived stigma of votech or the desire to party on parents dimes that keep pushing the university education on each and every young adult.

It's so silly. Everybody and their brother can't just go to university and fulfill the availability in the workforce. You need people across an entire specturm....and there's absolutely nothing wrong with that. You are definitely right, in that there is some type of 'stigma' if you don't have a proper university education nowadays...and it's absurd. That's part of the issue, it's almost presented like 'you're not as good as this person' if you don't go to university. Like, if you introduce yourself and you have no proper degree, somebody might grimace. It's a joke.

White collar, blue collar, purple collar, I don't care.....it creates a strong foundation for a country when EVERY area of the workforce has strong, suitable candidates.

It's kind of a much deeper thing in America though, especially with how a lot of American people i knew growing up were so superficial and judgmental. As if you walk into a clothing store and the guy working there is 'below' you in some way. It's pompous and ridiculous, we're all human. I don't see near as an extreme representation of this in Europe and other countries.

[tyler1980]

Originally Posted by 904VT

Why do you think it is there is such a bias against high-tech vocational education right now? That's something that has puzzled me to no end in the disconnect in skill sets and education choices going on. I'm not sure if it's the perceived stigma of votech or the desire to party on parents dimes that keep pushing the university education on each and every young adult.

what i don't understand is a university education isnt a vocational school yet there is an expectation that it is. My kids are getting a 4 year degree. I don't care if they are plumbers or mechanics. They will be university educated plumbers and mechanics. Its in our will and they get no inheritance if they don't. Education for the sake of education is important IMO and its not "job training" at all.

[jonski]

Originally Posted by Mik8yu

Which is why it’s important to buy a watch that you like, at a price you deem fit and forget about the latter


Sent from my iPhone using Tapatalk

very incredibly true my friend

[fskywalker]

Originally Posted by 101031-28

That is why I never buy above retail. Never have, never will.

Sent from my iPhone using Tapatalk Pro

[marc2828]

I agree. Every restaurant is full. Flights and vacation hotels seem booked. U2 concert tix are face value like $330 per. People are spending spending spending. Can't pay over msrp for a watch, and cannot buy unless one has a lot of disposable income. Live a real life, not a fake one to impress.

[Dubshack]

Originally Posted by dmash

This annoys me to no end, but I mean, different strokes for different folks. I think it's a joke acting like going to school for 4 years makes one in any way deserving of a $10k Rolex, and sets up that individual's expectations in life to be quite disappointing. and I say that as a college graduate. Perhaps I just like to actually earn my belongings and not have them handed on a silver platter. Not to mention, I would NEVER take $10k of my parent's money for some tangible good, especially after they had to pay for my entire being for essentially 18 years. I would have told them to take that and go on a nice vacation.....I guess some people always are willing to take money from their parents?



Some figures:

-The average student loan debt after graduation is approx. $40,000/student.

-Total bubble is around 1.5 trillion at this point. 1.5 trillion....and this is encompassed not only of engineers, doctors, dentists, blah blah blah who have 100% ensured income post graduation. This figure is also composed of people who went for a Bachelor of Arts and didn't even graduate, and have absolutely NO way to pay back student debt making $12/hour.

-Well under 10% of the debt is in any way 'security backed', so defaulting to a lot of these people is a viable option.

-Something like 44million Americans have some type of student loan debt. More than 10% of the ENTIRE country, not just individuals in 20s and 30s, have student loan debt over their head.


And the above figures, grow exponentially each year, by as much as 10%. Absolutely no signs of slowing down.


Oh, and let's not even bring into consideration, that this is also paired with the fact of how Americans utilize credit moreso than practically every other country, and this year finally broke the 1trillion dollar threshold in total credit card debt.


I'm sure the future looks very bright though, and the millions and millions of 20-30 year olds carrying this kind of financial pressure will in no way affect the overall health of the economy

Which institutions are the top holders of this trillion dollar debt? In the housing crisis the loans were sold off to investment banks. Is it the same with student loans, or is the debt actually held by the issuing bank?


Sent from my iPhone using Tapatalk

[JR16]

Originally Posted by tyler1980

what i don't understand is a university education isnt a vocational school yet there is an expectation that it is. My kids are getting a 4 year degree. I don't care if they are plumbers or mechanics. They will be university educated plumbers and mechanics. Its in our will and they get no inheritance if they don't. Education for the sake of education is important IMO and its not "job training" at all.

I can’t believe I didn’t think of this! Time to contact my attorney and update the will... brilliant idea for those of us who value education for education’s sake. Thanks Tyler!


Sent from my iPhone using Tapatalk Pro

[904VT]

Originally Posted by tyler1980

what i don't understand is a university education isnt a vocational school yet there is an expectation that it is. My kids are getting a 4 year degree. I don't care if they are plumbers or mechanics. They will be university educated plumbers and mechanics. Its in our will and they get no inheritance if they don't. Education for the sake of education is important IMO and its not "job training" at all.

Absolutely important to have education and I think university education can be very useful experience for many. The problem students (especially in the US) look at a university education as a key to making a career, while not thoughtfully choosing a major or concentration with real world application. So many nowadays can tell you and criticize you how to build automobile for example, but few can actually build one. I can't tell you how many art and political science majors I've met with $80k in student loans and $15 an hour wage jobs unrelated. The arts are interesting, but really have no use to an engineering student or career imo. It's a money making system of university credits and government funded lending unfortunately.

[904VT]

Originally Posted by dmash

It's so silly. Everybody and their brother can't just go to university and fulfill the availability in the workforce. You need people across an entire specturm....and there's absolutely nothing wrong with that. You are definitely right, in that there is some type of 'stigma' if you don't have a proper university education nowadays...and it's absurd. That's part of the issue, it's almost presented like 'you're not as good as this person' if you don't go to university. Like, if you introduce yourself and you have no proper degree, somebody might grimace. It's a joke.

White collar, blue collar, purple collar, I don't care.....it creates a strong foundation for a country when EVERY area of the workforce has strong, suitable candidates.

It's kind of a much deeper thing in America though, especially with how a lot of American people i knew growing up were so superficial and judgmental. As if you walk into a clothing store and the guy working there is 'below' you in some way. It's pompous and ridiculous, we're all human. I don't see near as an extreme representation of this in Europe and other countries.

I agree, I judge no one by their career choice or perceived degree value. I think it's a shame that it has gone so far. Everyone is needed and if you're good at what you do, no matter what it is, you will become very successful. There is no need to look down upon skill sets that may be considered non-academic. In the US especially, it seems people enjoy telling you about their degrees more than actually the learning itself that's involved with it. Can certainly be superficial and it starts in secondary school nowadays. I'd like to see every skill set, whatever collar own a Rolex if they want and stopping of the pushing towards career and study paths that may not be best fit for each individual

[tyler1980]

Originally Posted by JR16

I can’t believe I didn’t think of this! Time to contact my attorney and update the will... brilliant idea for those of us who value education for education’s sake. Thanks Tyler!


Sent from my iPhone using Tapatalk Pro

you might have to set up a Trust (thats what we did), but its not hard and any attorney dealing with estate planning can do it. Its easier that way to have "rules" or benchmarks or whatever over a long period of time to distribute assets. In a traditional will, once you die checks get written.

Your will gives all your assets to the Trust and the trust documents outlines how they will be distributed.

[JR16]

Originally Posted by tyler1980

you might have to set up a Trust (thats what we did), but its not hard and any attorney dealing with estate planning can do it. Its easier that way to have "rules" or benchmarks or whatever over a long period of time to distribute assets. In a traditional will, once you die checks get written.

Your will gives all your assets to the Trust and the trust documents outlines how they will be distributed.

thanks ! We do have “rules” set up about distribution (staged at different ages) and think it does involve a trust , but love the idea of adding completion of higher education as a requirement.


Sent from my iPhone using Tapatalk Pro

[904VT]

Originally Posted by JR16

thanks ! We do have “rules” set up about distribution (staged at different ages) and think it does involve a trust , but love the idea of adding completion of higher education as a requirement.


Sent from my iPhone using Tapatalk Pro

Just keep in mind estate planning in the US compared to UK is based on dramatically different rules. Get everything done by an attorney familiar with your specific state to be safe.

[1665fan]

Only Daytona for 10k there will ever be will be older 2 tone with no papers

[ras47]

Daytona Mania ??

[tyler1980]

Originally Posted by 904VT

Just keep in mind estate planning in the US compared to UK is based on dramatically different rules. Get everything done by an attorney familiar with your specific state to be safe.

mine is in the US FWIW. Texas specifically.

[Soultime]

Originally Posted by ronricks

In the US we have a lot of people that are part of 3 groups:

1. People who have an exorbitant amount of student loan debt
2. People who have an exorbitant amount of automobile loans (often 2 high car loans per household)
3. People who have BOTH high student loan debt and a high car payment.

Exactly the same as the UK.
Everyone driving round in shiny new German metal.

85% of new car sales now on PCP.......where the majority have no equity and just hand it back and start a new contract.

[Mik8yu]

At the rate market is going. If this trade war goes on any longer any px is possible. Whoop


Sent from my iPhone using Tapatalk

[MinMay]

People who loses money....there are people on the other side that makes money :).

[Mik8yu]

People who are making money right now can smell blood in the water. When they do, they move quick and slice like a hammer!


Sent from my iPhone using Tapatalk