Serious Discussion. Can You Really Afford Luxury Goods?

[Thoughts]

Luxury shopping is coveted by many, but only truly feasible to very few Americans. If you make $15k-$20k then your disposable income is less than $2500, a person making $50k-$70k is left with $14,000 to spend and $150k would leave you with $57,000 after housing, utilities, transportation and food.

Magazines like GQ targets males 25-35 with a household income of $100k and the median being $73k. How many of you fall into that category? Do you actually purchase luxury goods from retailers? Or from third party suppliers?

Luxury goods are for people who are expected to grow with the brand financially. A lot of people don't realize that's why clothing and auto designers incorporate the year the company was established, it's for prestige. Veblan goods are for wealthy people who are paying for the prestige to demonstrate they can afford it. If the price is lowered then they simply abandon the product.

When a person that earns below the median of let's say $73k, he or she cannot afford Veblan goods. However, just because a person cannot afford it, doesn't mean it will impede them in purchasing it. My question is why? Some people even go to great lengths such as buying counterfeit goods. Let's discuss the psychology behind this, what is there to gain from buying things you cannot feasibly afford?

 

[DrX]

no just like 80% of america,, but the stupid ass ppl in this country are consumers and dont produce nothing...then they believe these tv economist saying the economy will recover to halt a mass panic.....this country is finished man, the elites are cashing out

 

[philmonroe]

no just like 80% of america,, but the stupid ass ppl in this country are consumers and dont produce nothing...then they believe these tv economist saying the economy will recover to halt a mass panic.....this country is finished man, the elites are cashing out

What do you produce?

 

[Thoughts]

no just like 80% of america,, but the stupid ass ppl in this country are consumers and dont produce nothing...then they believe these tv economist saying the economy will recover to halt a mass panic.....this country is finished man, the elites are cashing out

China seems to be cashing in on America's plight despite economists reporting that the United States is still the global market's growth driver. Asian-Americans are leading in household income, with a median of $66k compared to white Americans who fall below $50k.

 

[DrX]

China seems to be cashing in on America's plight despite economists reporting that the United States is still the global market's growth driver. Asian-Americans are leading in household income, with a median of $66k compared to white Americans who fall below $50k.

exactly, america had fallen behind in every category but arrogant Americans think were still # 1

all ppl in this country wanna do is go shopping and party....well the party gotta end sometime

 

[ElectroMan]

 

[The Devil's Advocate]

Luxury shopping is coveted by many, but only truly feasible to very few Americans. If you make $15k-$20k then your disposable income is less than $2500, a person making $50k-$70k is left with $14,000 to spend and $150k would leave you with $57,000 after housing, utilities, transportation and food.

Magazines like GQ targets males 25-35 with a household income of $100k and the median being $73k. How many of you fall into that category? Do you actually purchase luxury goods from retailers? Or from third party suppliers?

Luxury goods are for people who are expected to grow with the brand financially. A lot of people don't realize that's why clothing and auto designers incorporate the year the company was established, it's for prestige. Veblan goods are for wealthy people who are paying for the prestige to demonstrate they can afford it. If the price is lowered then they simply abandon the product.

When a person that earns below the median of let's say $73k, he or she cannot afford Veblan goods. However, just because a person cannot afford it, doesn't mean it will impede them in purchasing it. My question is why? Some people even go to great lengths such as buying counterfeit goods. Let's discuss the psychology behind this, what is there to gain from buying things you cannot feasibly afford?

people like nice shyt... and people want what they can't have

now when rich folks go into versace or polo, they buying EVERYTHING... whole wardrobes.. you know these fukkers make bedspreads and couches and shyt too

yet middle class to broke, will save up 3 paychecks worth, to cop a $450 versace shirt.. for no other reason but to say "i got a versace shirt" and fake some importance of having it. you could have bought 8-9 nice polos or something more managable for 1 shirt


it's a status thing tho mostly.. i remember going to london and buying a iceberg shirt.. i wanted it cause all the rappers was on it at the time.. shyt cost me 100 for daffy duck shirt, that i could get at 5 below today

but boy did my school hop immediately on my nuts for being the only nikka with an official iceberg tee... and that was the whole point of buying it

some people just never grow up

 

[Thoughts]

exactly, america had fallen behind in every category but arrogant Americans think were still # 1

all ppl in this country wanna do is go shopping and party....well the party gotta end sometime

But this has been the "American Way" since the beginning. What else is there to do? I've read the Warren Buffet Way, and according to Buffet, economic crises are the times when you should really corner a market that is otherwise not affordable to you. This is what China has been doing. You can't fault them for it. But how can Americans change their economic status, and generate an income that can facilitate purchasing luxury goods?

Otherwise what reason do we have to still live in America as is?

 

[rogue_riezo]

Luxury is subjective, that's what I always believed.

I buy certain luxury items because their intrapersonal value exceeds that of their competitors. I'm willing to spend more money on brand XXX because it delivers a better experience than brand YYY.

 

[Orbital-Fetus]

no...i cannot afford luxury goods.
and to be honest, even if i could i probably would not buy any luxury goods other that some electronics.

specifically i would pimp out my PC to the max on some true nerd shyt.

 

[Claudex]

exactly, america had fallen behind in every category but arrogant Americans think were still # 1

all ppl in this country wanna do is go shopping and party....well the party gotta end sometime

The US dollar is still an american trump card. Say what you will but countries still try to acquire as many dollar reserves as they can to get their economies to work, because the US currency is one that most of the world relies on for international transactions.
That's also probably the same reason why the Wall Street crooks can sleep at night, because – besides the comfort of wealth – they also know that the trump card exists.

Somehow america still wins, even when it loses.


It doesn't help that the one country that can pull the carpet off of America (China), does not want to do so at all. They like their shyt the way it is, building their empire while avoiding the responsibilities of a top tier economic powerhouse.

 

[Thoughts]

but boy did my school hop immediately on my nuts for being the only nikka with an official iceberg tee... and that was the whole point of buying it

some people just never grow up

What does "growing up" mean? Does it mean that you put your priority first if you're middle-class? What does "growing up" mean for the elite?

 

[Will Ross]

You don't understand branding

 

[Thoughts]

You don't understand branding

Me? If so, I'd have to disagree.

 

[The Devil's Advocate]

What does "growing up" mean? Does it mean that you put your priority first if you're middle-class? What does "growing up" mean for the elite?

growing up means managing your money and putting your priorities in order

if i got 30 billion... and my bills are paid.. and my future is idiot proof.. meaning i can't possibly blow all this money in my lifetime with how my accounts are set up

then by all means... buy 50 million dollar art paintings and 1.5 million dollar cars and houses with 30 bedrooms... that's your DISPOSABLE income.. you don't need it to live.. you don't even really NEED it at all.. it's fun money




now if you're making 50k... and you're light bill is late... but you just gotta have those new jordan 3's... then your mentality is that of a child. instead of taking care of things like lighting and heat, you wanna buy shoes you don't NEED, and spend money you do NEED

sometimes growing up means realizing you can't afford to live the way you want, and making changes to either get to that point... or live within your means.. even if it means wearing $30 shoes to a million dollar meeting



it has nothing to do with rich or poor.... remember that poor parking lot attendant who set up his stocks to have like 300k in savings or some shyt.... meanwhile mike tyson was getting 30 mil a fight and blew every penny

money management is a vital step in adulthood