Personal Financial Planning Poll

[vt90]

Add the number of cars (new or used) you have purchased FOR YOURSELF to the number of PRIMARY residences you have purchased since graduation and subtract the number of years since graduation. DO NOT include cars or houses purchased for parents/spouses/children, etc.

For example, you graduated in 1995 and since that time you have bought/leased 4 cars and 2 primary residence properties.

4 + 2 - 17 = -11.

My number is -18. I've got a sister-in-law that graduated a year ahead of me that is well into positive numbers.

Whatcha got?

[Hokerer]

-27

[Burke Hokie]

-19

[turkeywinghokie]

-19 as well

[BayouGobbler]

Add the number of cars (new or used) you have purchased FOR YOURSELF to the number of PRIMARY residences you have purchased/leased since graduation and subtract the number of years since graduation. DO NOT include cars or houses purchased for parents/spouses/children, etc.

For example, you graduated in 1995 and since that time you have bought/leased 4 cars and 2 primary residence properties.

4 + 2 - 17 = -11.

My number is -18. I've got a sister-in-law that graduated a year ahead of me that is well into positive numbers.

Whatcha got?

What does the number of places you have lived have to do with anything?

[vt90]

What does the number of places you have lived have to do with anything?

You can flip houses and still be financially ahead if the market is cooperating. However, according to what I read, people with higher metrics tend to be spenders more than savers and vice-versa. Those with higher metric values had lower 401k and college savings.

Selling/buying the primary residence can easily cost tens of thousands every time it is done ... but if you are buying low and selling high, it is worth it.

[TurksNcaicos]

Very, VERY subjective measure......1 house or car for one person could cost the same as 6 for another.

[vt90]

Very, VERY subjective measure......1 house or car for one person could cost the same as 6 for another.

Agree - see above. Similar to the BMI for health screening. I guess the idea is that if you have owned 6 cars for yourself in 8 years, then you probably also purchased several for your spouse ... and if you held one car for that long, you are less likely to buy cars frequently for others.

[vthokieq]

You can flip houses and still be financially ahead if the market is cooperating. However, according to what I read, people with higher metrics tend to be spenders more than savers and vice-versa. Those with higher metric values had lower 401k and college savings.

Selling/buying the primary residence can easily cost tens of thousands every time it is done ... but if you are buying low and selling high, it is worth it.

Ok...then why include renting houses/apts in there? You have to live somewhere. How does changing where you're renting from factor into this equation?

[vt90]

Ok...then why include renting houses/apts in there? You have to live somewhere. How does changing where you're renting from factor into this equation?

I didn't include home rentals ... only primary residence purchases. But leased cars do count because it is basically throwaway money.

And there is no question this metric is similar to the worthless BMI metric where a physically fit, muscular individual can be considered obese.