Bike Week

[Nauset]

Originally Posted by jbolty

Motorized entertainment including racing, off roading and general car culture is fading and has been. Motorcycles cost as much as a car now and the days of fixing up some old junker are about over. Kids don't know or care about working on engines and even if they did the electronics make it way harder.


Add to that the fact they everyone has their nose glued to their phone so meeting and talking to real people face to face is a lost art as well. Standing around and discussing some guys fully restored Indian or Yamaha with a Harley engine and kawasaki rear wheel is just not a thing any more.

Too bad but times change

The boating industry is facing the same challenges. Younger people are not as interested in buying boats either.

[noreast]

Originally Posted by Nauset

The boating industry is facing the same challenges. Younger people are not as interested in buying boats either.

I don't know about that, Boating has never been a young mans game. The older you get, and the more money you acquire, the more interested you become. Except maybe those that grew up boating.

[jbolty]

Originally Posted by noreast

I don't know about that, Boating has never been a young mans game. The older you get, and the more money you acquire, the more interested you become. Except maybe those that grew up boating.

Originally Posted by Nauset

The boating industry is facing the same challenges. Younger people are not as interested in buying boats either.

I suppose there is an element of not being interested in what you can't afford also. Kids with giant student loans and worthless degrees are not buying much of anything except starbucks.

growing up as a local pretty much no one in my circle had a boat other than something with oars.

[thinkxingu]

Originally Posted by jbolty

I suppose there is an element of not being interested in what you can't afford also. Kids with giant student loans and worthless degrees are not buying much of anything except starbucks.

growing up as a local pretty much no one in my circle had a boat other than something with oars.

It's not just kids with "useless" degrees. For the past few decades, buying power of a huge segment of America has decreased. My parents could never afford now what they did 30 years ago on machinist's and grocery store clerk's salaries.

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[Hillcountry]

Originally Posted by thinkxingu

It's not just kids with "useless" degrees. For the past few decades, buying power of a huge segment of America has decreased. My parents could never afford now what they did 30 years ago on machinist's and grocery store clerk's salaries.

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So true...my father talked me out of buying a house for $40k in the 80’s saying “you’re crazy paying that price...wait til prices come down”
Next chance I had, I had to buy at $210k... ya thanks dad!

[Biggd]

Originally Posted by Hillcountry

So true...my father talked me out of buying a house for $40k in the 80’s saying “you’re crazy paying that price...wait til prices come down”
Next chance I had, I had to buy at $210k... ya thanks dad!

That's it, blame it on your parents, Ha,ha.

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[Hillcountry]

Originally Posted by Biggd

That's it, blame it on your parents, Ha,ha.

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Remember when kids use to “listen” to parents’ advice? Didn’t work out so well in this case! Lol

[MAXUM]

Originally Posted by thinkxingu

It's not just kids with "useless" degrees. For the past few decades, buying power of a huge segment of America has decreased. My parents could never afford now what they did 30 years ago on machinist's and grocery store clerk's salaries.

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The buying power of many has decreased because so many have no concept of living within the means they have and budgeting their money accordingly. Debt loads are high and payments for everything now the norm. It's sad... unnecessary... but a reality of today's way of thinking. Live by a monthly plan die by it as well.

It doesn't take luck or a huge income, just a little self discipline. No it's not always easy but it is doable.

[Biggd]

Originally Posted by MAXUM

The buying power of many has decreased because so many have no concept of living within the means they have and budgeting their money accordingly. Debt loads are high and payments for everything now the norm. It's sad... unnecessary... but a reality of today's way of thinking. Live by a monthly plan die by it as well.

It doesn't take luck or a huge income, just a little self discipline. No it's not always easy but it is doable.

Many kids today have huge incomes but also have huge debt. My kids make a lot of money but they are always struggling to pay all their bills. They spend a lot of money on credit.
They don't live lavishly so I don't think it's a case of living beyond their means.
It costs a lot of money to raise children today. Both parents have to work and that means putting kids in child care, which is incredibly expensive today along with housing and food. They say inflation is low but I don't believe it!

[joey2665]

Originally Posted by Biggd

Many kids today have huge incomes but also have huge debt. My kids make a lot of money but they are always struggling to pay all their bills. They spend a lot of money on credit.
They don't live lavishly so I don't think it's a case of living beyond their means.
It costs a lot of money to raise children today. Both parents have to work and that means putting kids in child care, which is incredibly expensive today along with housing and food. They say inflation is low but I don't believe it!

That's it, inflation is low, compared to what?

[MAXUM]

Originally Posted by Biggd

Many kids today have huge incomes but also have huge debt. My kids make a lot of money but they are always struggling to pay all their bills. They spend a lot of money on credit.
They don't live lavishly so I don't think it's a case of living beyond their means.
It costs a lot of money to raise children today. Both parents have to work and that means putting kids in child care, which is incredibly expensive today along with housing and food. They say inflation is low but I don't believe it!

Kids are struggling to pay their bills because they are taught that making payments is a reality that everyone just does and credit is just another form of income to be tapped into as needed. In fact one of the most brilliant marketing campaigns ever is the credit card rewards programs. Yes we will reward your stupidity! I wish I could run a scam like that, I'd gladly reward anyone 1% cash back when I can then whack you at a 22% compounding interest rate.

Both parents don't HAVE to work, I know the wife and I have managed on a single income since we were in our 20's. No it's not easy but it can be done even on a very modest income. It's no secret, get and stay debt free but that is a lifestyle choice many these days can't seem to grasp.

[ITD]

Originally Posted by Biggd

Many kids today have huge incomes but also have huge debt. My kids make a lot of money but they are always struggling to pay all their bills. They spend a lot of money on credit.
They don't live lavishly so I don't think it's a case of living beyond their means.
It costs a lot of money to raise children today. Both parents have to work and that means putting kids in child care, which is incredibly expensive today along with housing and food. They say inflation is low but I don't believe it!

There is a book, I just told my daughter to get it and read it, called "The Millionaire Next Door" by Stanley and Danko. It's good for adult kids and their parents. Great stuff in there.

[thinkxingu]

Originally Posted by MAXUM

The buying power of many has decreased because so many have no concept of living within the means they have and budgeting their money accordingly. Debt loads are high and payments for everything now the norm. It's sad... unnecessary... but a reality of today's way of thinking. Live by a monthly plan die by it as well.

It doesn't take luck or a huge income, just a little self discipline. No it's not always easy but it is doable.

Buying power ≠ discipline.

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[MAXUM]

Originally Posted by thinkxingu

Buying power ≠ discipline.

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Actually if you look at that graph much of what is there hasn't changed much.

Let's just take the big three:

Cost of a house, in 1975 that mortgage would have cost you 9.45% APR so as a percentage of income it the P&I payment in '75 was more expensive when comparted to both today's dollars and current interest rates hovering at less than half of that.

OK I'll concede the cost of a new car is twice that of 1975 BUT BUT BUT… I will point out a couple key differences. Anything that was made in 1975 was a piece of crap you'd be lucky to get 5 years and 75K out of before the stuff fell apart, rusted all to hell or just plain broke to the point of having to replace it as engineering back then was awful. Now a days one can easily buy a 15K used car and arguably it would far surpass the longevity and reliability of say your average 1975 Ford Pinto or Chevy Vega. Buying new these days is just plain dumb, not when you can buy off lease cars for a fraction of what they cost new. It gets even better when they hit 100K which is where I love to buy them then drive them another 100 or 200K.

College these days is expensive but I'll tell you what my daughter just graduated this spring from Manchester Community College with an Associates degree, where her credits are 100% transferrable into the state school system to finish out a 4 year program, and most will be accepted anywhere else. Cost you ask? 14K for both years combined. So it begs the question why would you send your kids to a place where they are racking up 30, 40, 50K + per year especially over the first couple of years? DUH?

It is about choices and it can be done.

[joey2665]

Originally Posted by MAXUM

Actually if you look at that graph much of what is there hasn't changed much.

Let's just take the big three:

Cost of a house, in 1975 that mortgage would have cost you 9.45% APR so as a percentage of income it the P&I payment in '75 was more expensive when comparted to both today's dollars and current interest rates hovering at less than half of that.

OK I'll concede the cost of a new car is twice that of 1975 BUT BUT BUT… I will point out a couple key differences. Anything that was made in 1975 was a piece of crap you'd be lucky to get 5 years and 75K out of before the stuff fell apart, rusted all to hell or just plain broke to the point of having to replace it as engineering back then was awful. Now a days one can easily buy a 15K used car and arguably it would far surpass the longevity and reliability of say your average 1975 Ford Pinto or Chevy Vega. Buying new these days is just plain dumb, not when you can buy off lease cars for a fraction of what they cost new. It gets even better when they hit 100K which is where I love to buy them then drive them another 100 or 200K.

College these days is expensive but I'll tell you what my daughter just graduated this spring from Manchester Community College with an Associates degree, where her credits are 100% transferrable into the state school system to finish out a 4 year program, and most will be accepted anywhere else. Cost you ask? 14K for both years combined. So it begs the question why would you send your kids to a place where they are racking up 30, 40, 50K + per year especially over the first couple of years? DUH?

It is about choices and it can be done.

I am sorry, I disagree with your assessment of college and even if you do start at a community college eventually you will need to transfer, yes the credits are transferable but you still have a minimum of 2 more years and in addition many professions require a master's degree now. As far as the car goes, you are not calculating repair costs on a used car.

All in all in the end since 1975, the big ticket item costs have increased further than the inflation rate and salaries have not kept up thus the younger generation is taking a double hit.

[Biggd]

Originally Posted by MAXUM

Actually if you look at that graph much of what is there hasn't changed much.

Let's just take the big three:

Cost of a house, in 1975 that mortgage would have cost you 9.45% APR so as a percentage of income it the P&I payment in '75 was more expensive when comparted to both today's dollars and current interest rates hovering at less than half of that.

OK I'll concede the cost of a new car is twice that of 1975 BUT BUT BUT… I will point out a couple key differences. Anything that was made in 1975 was a piece of crap you'd be lucky to get 5 years and 75K out of before the stuff fell apart, rusted all to hell or just plain broke to the point of having to replace it as engineering back then was awful. Now a days one can easily buy a 15K used car and arguably it would far surpass the longevity and reliability of say your average 1975 Ford Pinto or Chevy Vega. Buying new these days is just plain dumb, not when you can buy off lease cars for a fraction of what they cost new. It gets even better when they hit 100K which is where I love to buy them then drive them another 100 or 200K.

College these days is expensive but I'll tell you what my daughter just graduated this spring from Manchester Community College with an Associates degree, where her credits are 100% transferrable into the state school system to finish out a 4 year program, and most will be accepted anywhere else. Cost you ask? 14K for both years combined. So it begs the question why would you send your kids to a place where they are racking up 30, 40, 50K + per year especially over the first couple of years? DUH?

It is about choices and it can be done.

Yes, it can be done if you have no ambition to do more than needs to be done to just get by. Most people want more than just to get by so in that case both parents must work. Unless one parent is making a lot of money.
My son inlaw told me a few weeks ago that a family of 5 needs to make at least $300,000 a year to live in Metro Boston today. He works 2 jobs and my daughter works full time with three kids. They want more than just to get by. So with out actually asking them how much they make I'm assuming they make at least that if not more. Could they make it on one salary, maybe but I doubt it.

[Rusty]

Originally Posted by MAXUM

Actually if you look at that graph much of what is there hasn't changed much.

It isn't a "graph", it is a table with rows and columns.

However I would prefer looking at a graph that shows the cost of living difference.

[MAXUM]

Originally Posted by Rusty

It isn't a "graph", it is a table with rows and columns.

However I would prefer looking at a graph that shows the cost of living difference.

Ah indeed an astute observation in my lack of proper application of the English language, if only I had wasted hundreds of thousands of dollars (plus interest) in the hallowed halls of higher education I would have corrected my ineptness to properly identify a table versus a graph.

My sincere apologies.... as I am only a mere low life high school graduate.

[webmaster]

More about Bike Week from WMUR:

[noreast]

The tables with rows also doesn't include child care, which was almost free compared to what it is today. People making $15 to $20 dollars an hour, with a few kids could save money by not working, you can say don't have children then, but You can't compare anytime to the in recent history to what it's like starting out today, It's not even close. Now that's not an excuse to live like an idiot but there's no comparison. Also I know people who don't carry a balance who use there card for every single purchase to clean up on the rewards, I'm sure that's not the average user though.

[noreast]

Originally Posted by MAXUM

Ah indeed an astute observation in my lack of proper application of the English language, if only I had wasted hundreds of thousands of dollars (plus interest) in the hallowed halls of higher education I would have corrected my ineptness to properly identify a table versus a graph.

My sincere apologies.... as I am only a mere low life high school graduate.

Na, It only would have coat a couple grand back then, But I didn't do it either.