I work in telecommunications. My sister's friend has his own business, where I answer phone calls and take orders and other miscellanious things. I sit around an A/C office all day, its awesome and I'm really lucky. I worked at a grocery store at 5.50 an hour when i turned 15, I then worked at Target when i was 16, if you've ever heard of one, they are like a walmart. Worked there for 2 years at 7.50-9hr, and now I'm at this job. I make 10/hr plus commission, and thats what makes it so much, I'm pretty good at selling stuff. I do spend a lot of time there, for me to get the 1300 dollars in a week i was there 55-60 hours, which comes out to 25/hr. The job is pretty stable, just not as stable as something like target. The only thing that would make me lose my job is if the business went under, but we're doing good and we've been open for 5 years so all is well.



Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

[updated:LAST EDITED ON 10-Sep-02 AT 02:08 PM (EST)]Gt: I think you better plan to put some $$$$$$$$ away to pay Uncle Sam his commission. I am not sure whether you employer is with holding the proper amount of income tax on your earnings, but if they are'nt you may have a rude awakening come next April 15th. If you have no deductions you will get whacked, big time. I would check with my employer to see if they are witholding the proper amount of taxes and see if you will be square with Uncle Sam come the yearly day of reckoning. They may only be witholding on your base salary. The commission income will put you in a very high tax bracket for a guy your age and if you are making $1300 per week x 50 weeks that is a cool $65, 000. Even if you average only $50,000 for the year, you may have to pay your Uncle Sam, over and above what is witheld from your paycheck. You must consider more social secuity and medicare contributions as well. For example, if you have to pay 26% tax on commission earnings of $40,000, it could be as high as $10,400. That will buy a lot of Mustang for Uncle Sam!

If you vote democratic, you will no more. You may not even vote republican, you will be so pissed. Good luck and remember to check with your employer with regard to your tax liability.

As far as the Mustang, I agree with those folks who suggest you
purchase a classic that will appreciate, rather than depreciate. You may even qualify for classic car insurance which can run a whole lot cheaper than your regular insurance. Good Luck kid!

 

Well when I said 1300, thats before taxes. Everything is taken out that is suppose to be. Taxes in massachusetts are a little different right? I'm in the 15% bracket I belive, I won't make over 40k by January. I do realise that taxes will take a lot out but I can't help that. 1300 was a great week for me, I average about 800 per week. I wouldn't mind getting an older mustang but as i said before I don't know a whole lot about them and the only ones i like are the special ones like GT 350s and the mother of god GT 500 (thats my favorite car). I'll have to poke around in the special interest magazines around here, new england doesn't have as many of these cars as other southern states do. I think i'd only buy one if I got lucky, I don't have a garage and I made a post earlier about what I thought of older mustangs. Keep it comin I really appriciate this. I think that I'd be in good shape if I did what my parents said, and saved 1/2 and put the other half to the mustang.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

GT: Federal income tax is the same in all 50 states. Mass income tax is a state income tax and is a whole different deal. If you see large deductions from your pay check then you should be ok. The rule of thumb is if you gross $1000.00 in a week, then you should take home after taxes around 750.00 to $800.00. Generally speaking you can deduct around 20- 25 % and that should be your take home pay. If this look right, then you should be ok. However, commissions are generally not subject to witholding. But as I wrote, you should check with your employer to make sure. Good luck

 

What do you mean by commissions are usually not withholding? Yeah, state tax in mass is a pain. I talked to my boss and everything is deducted, I haven't gotten a pay stub yet but I will on friday.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

What I mean is that commission work is difficult to gauge on a week to week basis, and therefore the amount of witholding varies from week to week. I work strictly on commission basis and pay quarterly taxes. However, if you have a base salary, and commissions are added to that, then maybe your employer is making the full deductions. This would be best for you in that your tax liability is covered. But you really need to find this out for sure. Then there are no surprises in April.

 

Everything that has to be taken out, is being taken out (I'm at work right now).


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

Smart going kid! Now go get that CLASSIC Mustang!

 

I actually did almost buy one years ago when i was 15 (wow i feel weird saying that). My friend's father was getting rid of a 69 mustang. But the floors were gone, it needed a LOT of TLC, which I couldn't provide. We'll see. I'll consider a classic.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

Don't hold your breath waiting for your Mustang GT premium to drop to a reasonable level. At the age of 30, with 0 accidents, 0 claims and O traffic citations, I went shopping for a car and found a 4 year-old GT 5-speed hatchback, bone stock, no mods. Called my friendly insurance company that I had been with for several years and was told that if I bought the car, they would drop me. Period. I spent the rest of the day shopping for coverage and found just one company that would underwrite my policy, at double the rate of an average sedan. This was not in a large metro area, but in suburban NE PA. I passed on the car, and bought something boring and insurable.

My advice comes down to a few suggestions:

1. If you have to get a Mustang GT-type car, get a late model (AIRBAGGED) V6 Mustang, Camaro, or Firebird. You can modify the car with wheels and trim and get a good look that is more insurable than the V8 versions of these cars. Camaros and Firebirds with 3800 V6's have a fair amount of performance equipment dedicated to them, if you want more power.

2. Let old farts like me play with vintage pony cars. These cars have all the straight-line potential of a new GT without the handling, braking capability or safety equipment. In the Sixtie's and Seventie's, more guys your age died in pony cars than in Vietnam, and I don't say that to be humorous.

3. Stay with coupes, avoid convertibles. If you want sun, get a sunroof or T-Top equipped car.

4. I grew up driving '70's Mustangs and V8 Firebirds in snowy mountain winters. I lost count of how many times I scared myself silly losing steering and braking ability at low speeds on snow or ice. The new ones are little better. Traction control and ABS are bandaids on arterial bleeds on these cars. 60 and 50-series tires cause you to float on top of a snow crust, not digging in enough for traction. Park it in winter.

Good luck and don't bury yourself financially.

 

The V6 idea is an interesting "compromise." My mother has a mid 90s rear-wheel-drive Cougar with the 3.8 V6 and it moves pretty good (of course I am used to my 300 straight six). Also, I wonder if insurance is any cheaper with the Cougar (a great looking car) or T-bird. These models, I believe, are a little bigger than a Mustang and may be more comfortable. You may even be able to get a 302 V8 Cougar or T-bird for less insurance than the V8 Mustang. Check it out. I'd skip the GM products just on the basis of my Ford blue blood.

INLINE SIX POWER! '95 F150 XL
300 Cubic Inches of Low RPM Truck Torque! And twin-I-beams too!
"Drive a stick young man! There'll be time for automatics when you're old and unable."

See my gallery, just created 9-02.

 

Ahh, I have a truck to drive in the winter....

I highly considered getting a V-6 mustang, because i'd probably change rims and tires and put a V-8 in it. However, the V-6 mustangs have 7.5 rear ends and a weaker tranny. The V-8s have 8.8 rears and a stronger tranny. If i was going to do a swap, the rear end and tranny would have to be swapped too. There is no point in buying a mustang if it's a V-6 and your going to keep it that way. Thats insulting to the name, I wish they didn't even make V-6s. The old ones were I-4s for christ sake. The 3.8L V-6 was a great motor, my sister had one in her T-bird, but the issue here, is that it's not a V-8. A V-6 doesn't sit right with me in a muscle mustang. They do it because obviously some people do buy them. I don't know why getting insureance was such a problem from your company. Getting insureance isn't a problem for me, i've never heard of a company not wanting to insure you on a car unless it was a ferrari or something. I mean, it's a mustang, it's not that expensive for them to cover. Overall, mustangs arn't that much faster than other decent cars, they are slightly above average, but nothing spectacular from the factory. I wish the insureance wasn't so high.


I think it's going to be to difficult for me to find an old mustang, there is to much to do. You have to research and research, and know a lot about them in order not to get ripped off by the seller. Some people will say it's something special when it's not. With a 94-95 mustang I know what i'm getting. I'm going to try to dig up some information on how much insureance is gonna cost me.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

Just got my paycheck, $2085, and after taxes I got $1419.60, so they took out $665, sound right?

Soc Security = $129.27
Medicare = $30.23
Federal = $399.47
MA tax = $106.43

Good ol Uncle Sam .


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.

 

I was gonna say jump on the Mustang, but after reading some posts, I am not so sure...
Whatever you do, don't go for the V6. You will forever be wanting the sound of that 5.0 with the stainless, performance exhaust.
I had to sell some 'toys' when my family came along. I kept my project car, a 1971 Torino GT with 351 Cleveland 4V (300+hp), and I will never part with it. It still needs work, though I have had it for 11 years now.
I also sold a sweet sportscar, a Nissan 300ZX turbo, which even my wife regrets!
Bottom line is, get the cheaper 5.0 of later years, but with the better fuel injection system (1987, I think???). They can still be had for pretty cheap and in good shape. I passed up on one for $4000, a white convertible, mint shape with big stereo. (and low miles)
Use the rest of your money to put into investments, like mutuals or secured investment (won't lost your principal, worse case).
You could have thousands of dollars saved up when it's time to move out on your own, and then you buy that Mustang that you really want, or maybe by then, you will want to just seriously upgrade the one you have! (the late 80's Cobra's are sweet!)
Or, by then an investment into real estate (re: your house!) would be the way to go. Houses go up about $10,000 a year here; the market is great. That is just natural appreciation!.
Talk to an investment advisor.
Happy hunting!
Mark


https://www.ford-trucks.com/user_gallery/displaythumbnail.php?&photoid=5362&.jpg
Ford started it; Ford will finish it!

 

I wouldn't want an 80s model, I like the 94-95s to much. My friend has an 88 and it's just not to my liking. I ride in the 88 almost everyday, it has a cobra 5.0, 350hp and it sounds rediculously awesome. I crindge everytime he fires it up, I wish mine sounded like that.


Primary rig is Green Thunder:
95' F-150 XLT 4x4, 302, 5 spd, MSD 6A, Flowmaster American Thunder Exhaust, Sunroof, Clear corners w/ Diamond headlights, CD player with 2 10" subs and some 32" BFG Muds .

That's it for mods now, saving for a Stang. Check out my Gallery for a look-see.