[QUOTE='01SilverBullet]My question is how are these children affording 50k M3's?[/QUOTE]
You think this is bad? BWAAAHAHAHAHAHA! I went to St. Rose High School in Belmar, NJ. I got there on an 80% scholarship from my high ITBS scores, so I'm not rich. I was pretty much ostrisized by the other kids because I wasn't wealthy and Irish. I never knew there were people hated Italians until I attended that school. These kids were from the towns Spring Lake, Sea Girt, and the richest four blocks of NJ (not an exaggeration), Avon By the Sea. There were teens there who had BULGING wallets with at least $500 dollars in them and daddy's $50,000 Gold Mastercard. They would get "jobs" at the local golf course or the companies their parents owned. If they worked at the golf courses as caddies, they would make $400 - $600 CASH from other wealthy patrons who would tip them $200 for carrying their clubs!! I remember one kid who worked for a factory in Wall Township his father owned. He got $600 a week for being a "manager" there. He worked about 10 hours a week!!!! Then they would berate the few kids (me and five others) who had ACTUAL jobs, telling them they were cry babies - working was easy!
When it came time for cars, to get a brand new Mustang or Firebird was considered "humiliating" or "low class." Most of the kids got Corvettes, Mercedes, Porsches, BMWs, etc.
To give you a perspective on how idiotic most of these wealthy parents were, here's a little story. I remember one Junior there, a year under me. She had a Mercedes convertible. She trashed it on the parkway going around 120. So her parents got the little princess ANOTHER one. She trashed that one in a similar fashion. So now her parents decided to "teach her a lesson." They bought her a four door base model BMW. She was crushed! Oh, the horror! So I guess to spite them, she trashed that one, too. Well, now her parents were REALLY mad! They had to pay off another judge, and mommy may have to settle for only 50k in jewlery this year! They got her a new Firebird (this was back in 2001). Whoa! That borders on child abuse! To think her parents got her a $30k car! How could she show her face at school?
These parents never showed their kids the value of the dollar. It was really disgusting. These 16 year olds had more money than most middle class families in their savings accounts and they would blow it all on alcohol and weed. Who cared about grades? They would buy their way into college!
I made a promise to myself that if I ever became successful and earned like these families did, I would never treat my children like this. They would learn what real work was. They would save up and buy their own car like I did. Besides, when you're young, you bang up your first car anyway. And now that I am quite successful, I will live up to my promise. When/if I marry, I won't spoil my children with tens of thousands of dollars and a free $80k cars.
Sorry for the rant, but this really struck a nerve with me. You'd be amazed at how much money these people waste.