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Re: Triathlon and debt [Twinkie] [ In reply to ]
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I'm about to be 31 and I'm right there with you on everything you wrote.

Make Inside Out Sports your next online tri shop! http://www.insideoutsports.com/
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Re: Triathlon and debt [TriguyBlue] [ In reply to ]
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I'm building exactly an IA10 right now, also took off the Di2 in exchange for a 105 (used) group. I will post pics as soon as I can!
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Re: Triathlon and debt [jharris] [ In reply to ]
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jharris wrote:
Noooooooo.

No matter what your life is financially, live within your means.
=============================================================
this, This, THIS.
peggy
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Re: Triathlon and debt [BryanD] [ In reply to ]
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BryanD wrote:
I'm about to be 31 and I'm right there with you on everything you wrote.

Hell the cost of housing and the price to raise a kid from 0-18 years old - has led me away from getting married and having a kid. I have a masters in finance and make decent money - so I have NO idea how people making much much less are handling this.
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Re: Triathlon and debt [Twinkie] [ In reply to ]
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Don't put off marriage and kids because you are scared of finances. You will always find a way. At least that's what my parents say. I'm not married or have any kids.

Make Inside Out Sports your next online tri shop! http://www.insideoutsports.com/
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Re: Triathlon and debt [BryanD] [ In reply to ]
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BryanD wrote:
Don't put off marriage and kids because you are scared of finances. You will always find a way. At least that's what my parents say. I'm not married or have any kids.

haha that last part was funny. Ya - well I am not even in the realm of considering the option yet. Kind of have to get a girlfriend first...and I race triathlon...so i will probably be single until I die. Which I am ok with. They will make me a glass top casket and put me in it in a speedo so when they view me they can say "Man, Twinkie was an a$$hole and he died so young - but jesus - look at those abs. That has to be 5% body fat. and them quads! he def biked and dropped the hammer"

least thats how I picture it in my dreams
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Re: Triathlon and debt [BryanD] [ In reply to ]
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BryanD wrote:
Don't put off marriage and kids because you are scared of finances. You will always find a way. At least that's what my parents say. I'm not married or have any kids.


unless your spouse is also a triathlete, pooling your resources via marriage works out nice. It's when you abandon the double income no kids status that you screw yourself
Last edited by: mickison: Jun 15, 18 8:40
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Re: Triathlon and debt [Twinkie] [ In reply to ]
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Triathlon won't make you single! Some girls like it! Not talking to girls....well that will make you single.

Make Inside Out Sports your next online tri shop! http://www.insideoutsports.com/
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Re: Triathlon and debt [nc452010] [ In reply to ]
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nc452010 wrote:
Let's see.......If I have $30K performing for me at 7%.......and I need to purchase a vehicle (insert any expense)......and I can get an interest rate of 1.9% financing.......I'm supposed to pull the money out of the 7%, so that I can avoid the 1.9% interest (and be able to tell everyone 'I only pay cash')?

Debt is not a dirty word. Not being able to manage debt is a different animal.

Most people who are in a financial position to consider this discussion aren't the ones using debt to pay for hobbies.

That being said, there is something really nice about not having monthly payments that goes way beyond math.
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Re: Triathlon and debt [BryanD] [ In reply to ]
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BryanD wrote:
Triathlon won't make you single! Some girls like it! Not talking to girls....well that will make you single.

Girl: So do you want me to stay over
Me: Ya sure. I have to get up at 5am though for a group ride
Girl: how long will you be gone?
Me: Until about noon
Girl: Really?
Me: Ya
Girl: What are you doing after?
Me: I have a swim/run brick
Girl: Seriously
Me: Ya
Girl:What are you doing tomorrow?
Me: That is long run day

Girl: Have fun sleeping alone
Me: Your sister is coming over later. She doesn't mind. I wont be alone
Girl: *SLAP*
Me: (on phone) "Hey mom - ya no that whole girl thing didn't really work out. She was too clingy"
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Re: Triathlon and debt [Twinkie] [ In reply to ]
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Unless you are a pro making serious money in triathlon, take time to hang out with girls.

Make Inside Out Sports your next online tri shop! http://www.insideoutsports.com/
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Re: Triathlon and debt [MarioTB] [ In reply to ]
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This problem is not really caused by triathlon that can be practiced competitevely on a quite reasonable budget. Problem is the economy we're living in that always need growth, and the huge commercial bashing to support it.
If one is not strong in his mind there are so much incentive to buy new gear and stuff many people without the money will do it and be in debt. The financial system want its peasants to be in debt. This way they have to pay banks money for the right to be in debt, giving the system even more money. It also prevent people from going in strike for better wages because they have loans and debt.
Everything is fine...
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Re: Triathlon and debt [Ajaj191] [ In reply to ]
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^ I work at a bank. Please use your credit cards more, so we make more money, so my bonus is bigger, so I can pay off my student loans faster. Just swipe those suckers. Burn a hole in them. Thanks

Also just bought 2 movie tickets. It cost $27.50. smh
Last edited by: Twinkie: Jun 15, 18 8:54
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Re: Triathlon and debt [Twinkie] [ In reply to ]
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If you have a gun, you can rob a bank. If you have a bank, you can rob EVERYONE!
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Re: Triathlon and debt [T3_Beer] [ In reply to ]
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T3_Beer wrote:
If you have a gun, you can rob a bank. If you have a bank, you can rob EVERYONE!


If you pull in $2000 a month after tax, but want to take out a loan that cost $3000 a month...who are we to tell you that you should learn how to do math? I'm not your math teacher nor your babysitter.

that being said; there are 4 things a person should never trust.

A drug dealer
A used car salesman
The French
and the banker for all 3
Last edited by: Twinkie: Jun 15, 18 10:41
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Re: Triathlon and debt [MarioTB] [ In reply to ]
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MarioTB wrote:
Have you seen this topic? https://redd.it/8qgzt7

I have mixed emotions every time I go buy something for tris.

The reddit post sounds like simple trolling. There is probably no indebted triathlete or wife writing on internet about it.

Also it's a bit strange. Triathlon is not the best place to flash money you don't have in order to impress people you don't like. You can do it way easier with a motorbike or a boat or even just nightclubs. You don't have to train 10 times per week for years for that.
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Re: Triathlon and debt [MarioTB] [ In reply to ]
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Just a microcosm for society as a whole going into debt for the latest stuff, houses, cars, tri stuff, TV, etc.

Be smart with the money and it won't be an issue.

Ryan
http://www.SetThePaceTriathlon.com
http://www.TriathlonTrainingDaddy.com
I got plans - https://www.trainingpeaks.com/...dotcom#trainingplans
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Re: Triathlon and debt [Traket92x] [ In reply to ]
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Traket92x wrote:
Twinkie wrote:
...You think triathlon is expensive? try owning a boat. haha


BOAT = Bust Out Another Thousand
Aha ha you sweet summer child, you.

Going into debt for a hobby is stupid. People should enjoy their leisure time, absolutely. By finding a cheaper hobby, if they are funding it on their credit cards. Geeze.
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Re: Triathlon and debt [Twinkie] [ In reply to ]
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Twinkie wrote:
The thought of retirement for someone my age (not yet 30) is totally non existent. My dad retires this month. everything paid off. cars, both houses, etc.

I look at my $70,000 student loan debt for gradschool at 7.8% interest (thank you for raising that from 3% to 7.8% government) - decided my father should use that money for retirement and not to help me - and current housing prices, fed interest rate hikes, cost of used cars, cost of gas, then the cost of all the things that my parents never had to worry about when they were young (internet, cell phone service, computers, actual cell phones, cost of microsoft office), price of going to a movie, hell going on dates, cost of groceries, etc, cost of health care, price of rent, the probability the social security will not exist when I am 60.

figure I will be working until dead. I also make good money too. Most of my friends feel the same way. Granted - I am on track to make superb money in 10+ years so grad school was an investment rather than a potential loss - but retirement is not a thing with my generation. Sure I am going to save for it (IRA, 401K, and separate equity account) best I can but it is not a reality with my generation. The numbers do not work out.
Yep. Older Americans have NO IDEA how hard is it to be young nowadays. I'm almost 50 but I get it. And yeah everything paid off, no debt (I never had any school loan debt to begin with), and looks like I'll go into retirement at 60 with more than enough to cover life expenses + travel, which is really all I want to do anyway.
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Re: Triathlon and debt [Dilbert] [ In reply to ]
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Crazy thing is that since Reagan people volunteered by voting for this nonsense. Remember that in the 40s taxes on society were in the 50% range. Economy was more than fine.
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Re: Triathlon and debt [Ajaj191] [ In reply to ]
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Back when I started work in the 1990s I promised myself that the day I ran a 34.xx 10k, I'd buy a $5,000 bike. Not before. To avoid unnecessarily expensive bike:engine mismatch.

20 years on, still haven't bought that bike.
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Re: Triathlon and debt [Twinkie] [ In reply to ]
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Same here, if I want extra bike stuff, I put in extra time evenings and weekends to pay for it.

Got a wicked deal on an IA10 frameset so worked my buns off to pay for it.

Never taken on debt for bikes :p
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