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Many, many of us grew up in a time when the paradigm of [degree=successful, no degree=not successful] was not as blindly accepted as it is today.
My father-in-law came from another country with the equivalent of an 8th-grade education. He doesn't even have a high school diploma, but he retired seven years ago as co-owner of a modestly prosperous car repair shop, with a nice home in Orange County, CA and two BMWs.
My husband also has no college degree but he now owns the repair shop, and we do very well on his income in this high-COL area. We have a house and three BMWs.
It still possible to do well without a degree AND it is certainly possible, even common, to have one or two degrees and be unable to support oneself.
However, I really doubt that welfare recipients are buying new luxury cars with their government checks. There has to be more to that story. Who knows, maybe some people look at our BMWs and think they are "luxury cars," but the most recent is a 2003 and we paid no more than $5000 for any one of them.
Right! Although, I do judge those young guys you mention after knowing some of their story and find their behavior to be depressing. It seems like most of their money is going to pay off a car note/gas/insurance, with not so much left over to properly plan for financial stability in years to come.
Yeah and they often live with a bunch of roommates or family.
Lots of people with no degrees make a very good living. Surely you know that.
One guy who was in my lead paint certification class was a black guy who looked kind of poor...He made 200K per year. But I'd agree that some of the people who have luxury cars don't have much money. The reason they can afford the cars is because Americans don't have to have money to buy a car.
All you need is to be able to pay the monthly payment on a loan. If the loan term is long enough, or the car is old enough, or you have enough of a down-payment, then the monthly payment may be affordable. Lets not even get started on the super expensive houses that people are still buying...at least where I live.
Where are they getting the money? Are they able to save anything? It would be hard for me to sleep at night with that much debt...no matter how nice the house or car was.
You can buy a 7-8 year old MB S500 for about $20,000 +/-. It's a luxury car but at a much lower cost, and that's what I see the most in lower socioeconomic areas in my town. A lot of "misguided youths" buy those, throw 20" rims, paint them all kinds of stupid "candy" colors and may even add a rear wing to the trunk lid.
There are many people who make +$70,000/year and drive cheap cars because they spend their money to buy houses, and there are people who make little money who drive luxury cars and live in apartments.
How people with no degree buy luxury cars? and have enough money to maintain their vehicles?
The same way people with a degree buy luxury vehicles or anything else, they either finance the purchase or they pay cash.
One does not have to have a college degree to be approved for a loan.
lol
My dad couldnt get the valet to park him at the state Bar Ass'n meeting one year because he was in his 20 year old rusted out SUV.
He had to pull out his membership card for the kid to believe he was a lawyer.
Look and see what a skilled tradesman makes in the auto or steel manufacturing industry's . I know a guy that works for Ford Motor Company he is a too and die maker, he is making over a $100,000 with all the hours he works.
Having a degree is not the only way to make money. If you have specialized skills you don't need one. Although I would encourage people to go if its for a real major. Else go to trade school or learn by doing.
There are many people who make +$70,000/year and drive cheap cars because they spend their money to buy houses, and there are people who make little money who drive luxury cars and live in apartments.
How people with no degree buy luxury cars? and have enough money to maintain their vehicles?
so now it requires a college degree to own a luxury car these days? what does not having a college degree have to do with buying a car? any car? how about bill gates? he has no college degree, yet he with worth $50 billion. does that mean he cant buy a luxury car?
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