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Saw the story where 3/4 of Millennials are more than $100k in debt excluding mortgages

Posted on 8/4/22 at 10:18 am
Posted by anc
Member since Nov 2012
20418 posts
Posted on 8/4/22 at 10:18 am
and it was shocking. Could not believe it.

Yesterday, I stopped by Jimmy Johns to grab lunch. I parked my paid for 2013 Acura next to a new Porsche Panamera (base $92,400). It had a Mississippi specialty tag GRLBOSS (Girl Boss).

Now, I don't care how people spend their money - I only have to worry about me. But when I hit $5 million net worth (5-7 years from now), I am going to buy a Porsche Panamera. Its just what I want to do when I hit that number, so this car caught my attention.

I walked into Jimmy Johns and it was all men and one woman that I knew (and it wasnt her car). Whose car could this be? It ended up being the General Manager of that Jimmy Johns, a woman in her late 20's/early 30s.

quote:

Jimmy John's Gourmet Sandwiches employees with the job title General Manager, Restaurant make the most with an average annual salary of $40,553, while employees with the title General Manager, Restaurant make the least with an average annual salary of $40,553.



She has a sweet, sweet car.




This post was edited on 8/4/22 at 10:21 am
Posted by Hermit Crab
Under the Sea
Member since Nov 2008
7390 posts
Posted on 8/4/22 at 10:22 am to
maybe she is a drug dealer out the back of jimmy johns, maybe she owns the place, who knows. Stop worrying about other people you don't know.
Posted by auisssa
Member since Feb 2010
4633 posts
Posted on 8/4/22 at 10:32 am to
4 door Porsche. SMH
Posted by The_Duke
Member since Nov 2016
4172 posts
Posted on 8/4/22 at 11:04 am to
Not sure where you got your numbers from but Glassdoor has it at a bit higher.

"The estimated total pay for a General Manager at JimmyJohn's is $88,258 per year. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated base pay is $60,239 per year. The estimated additional pay is $28,019 per year. Additional pay could include cash bonus, commission, tips, and profit sharing. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role."

If it was used, she probably got it around 50-60k. Not bad--and of course, there is the obvious chance her husband is loaded or at least makes a nice salary. My wife drives a car (Q8) she def could not afford on her salary.
This post was edited on 8/4/22 at 11:07 am
Posted by Im4datigers
Northern Virginia
Member since Oct 2003
4650 posts
Posted on 8/4/22 at 11:15 am to
Maybe she’s banking on her only fans page. Somebody out there has a fetish for a woman Jimmy John’s GM
Posted by UltimaParadox
North Carolina
Member since Nov 2008
51589 posts
Posted on 8/4/22 at 11:41 am to
quote:

But when I hit $5 million net worth (5-7 years from now),


Not so subtle
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 8/4/22 at 12:06 pm to
quote:

She has a sweet, sweet car.


Everyone knows (and it’s pretty obvious, I guess ) that I’m a Jaguar man - the classic ones, I mean. But dude, I saw a black Panamera Sport Turismo GTS at VIR last year and all I can say on a family friendly forum is that it made me feel some kinda way. I mean, like I needed to think about baseball and go sit down with a napkin over my lap.

Jokes aside, I like the “shooting brake” style (are you familiar with the term?)- always have. And that low, sleek, black with blacked out windows creature was the ultimate. If you also like ‘em, I tip my hat to you. They’re car porn, IMO. I bet the Supreme Court would agree.

So I guess I can sorta understand how that thing could make a person do something seemingly irrational.
Posted by The_Duke
Member since Nov 2016
4172 posts
Posted on 8/4/22 at 12:16 pm to
The A7/S7/RS7 are far better looking than the turtle-faced (fake) Porsche Panamera.
This post was edited on 8/4/22 at 12:17 pm
Posted by LSUFanHouston
NOLA
Member since Jul 2009
40270 posts
Posted on 8/4/22 at 12:24 pm to
I doubt a bank is approving her for a loan for that car on that salary.

So either she's not paying it... or she has a lot of other money. Maybe it was a graduation gift. Maybe she's on a management fast track at JJ and she has to spend some time running a store first.

A woman who is topping out as a JJ manager probably doesn't have the go to have Boss Girl on her plate.

Were their cameras? Was this Undercover Boss filming?

As fae as the debt story... this is the MT so I imagine most of us are smart enough to understand that a significant portion of that millennial debt is student loans from attending private colleges that most students did not ever need to attend.

75K in student loans and a car note on a decent car in today's market can easily hit you 100K.
Posted by nolaks
Member since Dec 2013
1297 posts
Posted on 8/4/22 at 4:46 pm to
yeah but have you seen her only fans
Posted by Rize
Spring Texas
Member since Sep 2011
18777 posts
Posted on 8/4/22 at 5:29 pm to
I’d have an RS7 or a M5 Competition if it were up to me but my wife wanted a suv so I settled for a X5M.
Posted by Hamma1122
Member since Sep 2016
21956 posts
Posted on 8/4/22 at 5:29 pm to
Stop assuming
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 8/4/22 at 5:59 pm to
quote:

The A7/S7/RS7 are far better looking than the turtle-faced (fake) Porsche Panamera.


It’s all about personal preference. Other than the Quattros back in the 80s, I never was in to Audis. Did get my picture taken in the old R8 LMP car though. So yeah, I was a fan of their Le Mans racers.
Posted by GeauxZone90
Baton Rouge
Member since Jul 2010
3282 posts
Posted on 8/5/22 at 12:21 pm to
She is a prostitute
Posted by jmarto1
Houma, LA/ Las Vegas, NV
Member since Mar 2008
38051 posts
Posted on 8/5/22 at 12:25 pm to
That is a fair assessment of a restaurant general manager salary
Posted by FCP
Delta State Univ. - Fightin' Okra
Member since Sep 2010
5112 posts
Posted on 8/5/22 at 12:58 pm to
quote:

But when I hit $5 million net worth (5-7 years from now), I am going to buy a Porsche Panamera
My old man has amassed x4 that number, and he tools around town in an early 90s Dodge farm pickup w/o A/C.

I inherited his frugality, but whatever POS I drive in retirement will have air conditioning.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40336 posts
Posted on 8/5/22 at 1:18 pm to
quote:

My old man has amassed x4 that number, and he tools around town in an early 90s Dodge farm pickup w/o A/C.


Posted by metallica81788
NO
Member since Sep 2008
10078 posts
Posted on 8/5/22 at 2:29 pm to
Can't take it with you when you die
Posted by armsdealer
Member since Feb 2016
12280 posts
Posted on 8/5/22 at 5:22 pm to
quote:

I doubt a bank is approving her for a loan for that car on that salary.


Stated income plus a 700+ is all you need to buy a Porsche. Nobody is checking that info out.
Posted by Drizzt
Cimmeria
Member since Aug 2013
14881 posts
Posted on 8/7/22 at 2:41 am to
I love how all the people on here are coming down on you and defending a person running a sandwich shop for obviously spending way too much on a car. The whole point of your thread is young people are in debt for making dumb financial decisions and you are obviously right. Doesn’t matter if “she can afford it” when $100k is stupid money for a car when their is a 99% chance the “girlboss” is not stupid rich.
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