I hate this "example" that people always bring up. Somebody making over $1m a year can absolutely, no doubt about it, afford something better than a compact Hyundai.

They did not get to the 1m/yr point by deciding to drive a shitty car, nor would their financial situation change at all by driving something better than a Hyundai. They either simply do not like cars or they're too cheap to have any fun with what they drive.

I "only" earn $350k/year in comparison and I have two Porsches and some other cars. After maxing out my retirement accounts, putting a hefty amount into savings, and paying all my monthly expenses (which are maybe $3500 max) I still have probably $15k leftover.

My Porsches are paid off, but let's say I wanted to put $50k down and drive, say, a