Why do so many Tacoma owners live in Apartments?

WOw nice place

 

I don't think we are talking about those people with short term circumstances

 

Well with all the HK and Chinese money, BC prices makes sense. Those people don't drive Tacomas They daily drive Aventadors in the winter

 

STUNNING!!!!!

 

Mind you my Tacoma was bought used with 6600 miles. Single cab.

 

I'm in this boat. Fresh out of college making enough to get a new car so I did...and I'm on the verge of dumping thousands into it with aftermarket stuff. Could have started chewing on a house instead but I'm not 100% sure I'm where I want to be for the next 10+ years at this point. Can't take a house with me but the Tacoma will take me anywhere. Once I know I'm where I want to be for at least the semi-long-term I will look into a house so as to avoid throwing away money in rent. Fwiw, my apartment is nicer than the Tacoma relatively speaking. Living space > car imo.

 

I've toyed with the idea of just living out of my Tacoma for a year and saving $15k in rent money, then putting that toward a down payment on a place. Homelessness as a path to homeownership, only in California lol

 

I'd stick some into a Roth IRA. Cool thing about that is that you pay taxes on it now, it goes into a retirement account and starts accruing. After 5 years, you can tap into that and have some money towards your house down payment with no penalties. If you go another route and don't do a house, you've started building your nest egg. Before you know it, with consistent dropping of money in that account, you're 32 years old with $70k-100k in that account if you play it right, only losing a few hundred a month in play money. Easier than going any other routes. Even if you don't go the route of a few hundred a month, put your tax return into the account when you get that money back.

So easy to save money, yet nobody does it.

 

How do you know their circumstances? Just out of curiosity

 

Midsize living!

 

Lol, I'm actually planning on doing what I should have done several years ago, putting a chunk of my savings into a Roth IRA like @FooBird said above. In 5 years or so I can hopefully own my own place.

 

I love the fact when I see a Ferrari sitting in an apartment complex that is $400 a month for rent.

There is actually a guy about 3 miles from me, owns his house and a Lambo. I talked to him once. He spent more on his Lambo then he did his house. The Lambo is nice, the house is a dump. I don't get it. I'd rather have a nice house vs a nice car.

 

Solid advice, thanks. Been putting 3% of my paychecks into a Roth and 4% into a 401(k) since day 1 of my job. Has already grown much faster than I thought it would.

 

Plus you nbeed a reliable vehicle to get to work so I can see that

 

I've always been good about saving money but my problem has always been that I don't let my money work for me (always just set it aside into a savings account with no real growth opportunity). I heard a scary statistic on the radio the other day, that most young adults in my generation and younger have less than $1k in their savings account. I feel better about my circumstances from that perspective, but by not giving it the opportunity to grow I'm shooting myself in the foot. And unfortunately the company I work for doesn't offer retirement plans so I'm pretty much on my own there (at least for now). Need to head over to the bank today after work...

 

That's always in the back and forefront of my mind when I'm out wheeling in my truck, lol.

 

Because we're poor after moding our Trucks

 

Talking about my own renters (early 30s), they aren't here short term. They have lived in the area a long time. Told me traded his 2013 on his new 2016 40K Tacoma. I have his credit report/bank statements, etc.

I think 10,000$ lift/wheels/suspension on a 40K truck, and a pretty cheap neighborhood (when I drive around looking at properties), isn't an indication of someone who is very financially responsible.

 

Got it, most people that do that around me either but it from the dealer with lift wheels and tires or go and max out a card for it.

 

That is a really good post and makes a lot of sense. Nice place btw.

Weird thread, in general. So many variables. I suppose it makes for interesting discussion but honestly that stuff wouldn't really cross my mind. I don't know other people's situations, so I don't really care what they do. If I saw a guy renting but had a Ferrari, more power to them. I know I put off being responsible right after I graduated college, so I could experience car racing, buying bikes to race etc, all while I was young. Now I have settled down, bought a house and am more responsible with my money. But I don't regret doing what I did while I was younger and able to have fun like that. I still have toys too, btw, just not as much time to use them.