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  1. Dave Lyon

    Prediction: A slew of CT cancellations on the horizon

    If you were my accountant, I'd fire you. If you make money, and you don't spend it, it's profit. If you spend it, it's gone.
  2. Dave Lyon

    Prediction: A slew of CT cancellations on the horizon

    Yes, but if you have no income, the deduction doesn't do you a lot of good. You'd get the exact same deduction if you just gave the money to charity.
  3. Dave Lyon

    Prediction: A slew of CT cancellations on the horizon

    Yes, it's nice, but it doesn't excuse a bad decision. If a 50k truck would do the job, why spend 80K for a tax write off? You'd be better off using the 50k truck and taking 30k as profit.
  4. Dave Lyon

    Prediction: A slew of CT cancellations on the horizon

    Yes, what you're missing is net worth. If your net worth is high enough that you can burn 100k without it damaging your retirement, then your yearly income is not important. In the US, it's pretty easy to become a millionaire without making 6 figures. You just have to be smart with your money.
  5. Dave Lyon

    Prediction: A slew of CT cancellations on the horizon

    My truck had a 70k sticker, and it's 10 years old. I'm not surprised by the sticker price. I figured that's about where they'd come in. My disappointment was the range, payload, and tow rating. At this point, I can't take delivery of the CT because it won't do the job I need it to. I won't be...
  6. Dave Lyon

    It’s never been more expensive to buy a new car

    Your link says, "many millionaires have a significant percentage of their wealth tied up in their primary residence." It doesn't say the average. In fact, your link also says this, " In fact, 93% of millionaires polled by Ramsey Solutions claimed they did not become rich due to their salary but...
  7. Dave Lyon

    It’s never been more expensive to buy a new car

    You're conflating two seperate facts into one. It is true that the average American has most of his wealth tied up in his home. However, the average American is not a millionaire. Median home value as of 2021 was about 357,000. Self made millionaires in the US have a large percentage of their...
  8. Dave Lyon

    3mm stainless steel - wow

    Because my argument is that 300 series stainless is not a hard steel. That was my only statement. I agree D2 would be a poor choice for a car body.
  9. Dave Lyon

    3mm stainless steel - wow

    Why don't you look up the RC of "full hard" 304SS and let me know how it compares to hardened D2.
  10. Dave Lyon

    It’s never been more expensive to buy a new car

    Of course many people don't have that good fortune. However, it's not because they're unlucky. It's because they are unwilling to make the sacrifices necessary to make it happen. The people on welfare in the United States have an income that puts them in the top 5% of earners in the world...
  11. Dave Lyon

    It’s never been more expensive to buy a new car

    All of my discussions so far have been targeted at depreciating assets. Appreciating assets like your home muddies the water a bit. If the interest rate you're paying is about the same as inflation, some modest debt against a home may be a good idea. Especially if it saves you from paying rent...
  12. Dave Lyon

    It’s never been more expensive to buy a new car

    LOL, right now they're just as easy to get as a new one. :)
  13. Dave Lyon

    It’s never been more expensive to buy a new car

    Financing is great for an economy based on debt and inflation. If everyone took my advice, the world would be in serious financial trouble. However, debt is not good for the individual.
  14. Dave Lyon

    It’s never been more expensive to buy a new car

    Yes. In my opinion, you should always pay cash for depreciating assets. That's the way I ran my business. It caused me to grow much slower than other businesses, but it made my business much more recession resistant. There is an argument to be made for financing a depreciating asset that is...
  15. Dave Lyon

    It’s never been more expensive to buy a new car

    That depends entirely on your financial position. One of the problems with financing an item (including credit card purchases) is that it causes you to spend more money than you should, or would if you were paying cash. It's very easy to add that factory stereo and fancy trim package if it's...
  16. Dave Lyon

    It’s never been more expensive to buy a new car

    Silly, silly boy. Bitcoin will have another halving next spring. It's on a very easy to predict 4 year cycle. Black Rock is trying to start a Bitcoin ETF right now. You've heard of Black Rock, haven't you? Bitcoin will be at about 100k next spring, IF Blackrock doesn't get their ETF. If they...
  17. Dave Lyon

    It’s never been more expensive to buy a new car

    A lease can be a little more complicated. If you run a large business where it's important to always drive a new(er) car, and current tax laws don't allow instant depreciation, a lease might make sense. If your net worth is large enough that the expense of always driving a new car doesn't make...
  18. Dave Lyon

    It’s never been more expensive to buy a new car

    That really is a serious problem. Real estate and Bitcoin for the win. :)
  19. Dave Lyon

    It’s never been more expensive to buy a new car

    I agree. I've set my finances up in such a way that 3 years from now I'll no longer be paying income tax. However, I'll probably have to pay some when I'm old enough to draw SS. :(


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