This is just a guideline, it's not exact science..
But it's a good guideline taking in the the other big ticket expenses that is going to happen in a person life...
Namely, house, wife, kids and education, cars, retirement

House - is your friend just satisfy with a normal condo 600k or a 1mil link house or a 1.5m semi d? He's gonna buy just 1 house his entire life?
I
Wife - unknown - if he meet a gold digger that is attracted to his 530e, he could welll spend 1m on wife throughout a lifetime

Kids - 300k - 500k living expenses. The kicker is when your kid want to study overseas.. 1m education.... This is per child mind you.

Car - your friend want to buy 340k at 28. Assuming he change car every ten years, i reckon he gonna change another three times.. so his next car gonna downgrade to civic? Or u think he wanna maintain his status and buy an equivalent or more expensive car 3 more times! He could welll spend more than 1m just on cars..

Retirement fund..  25 years of 0 income. if he want to maintain his 530e status.. 1m is not going to cut it

There really is no right or wrong answer here...
My short answer is if he want to buy his car and maintain a 530e lifestyle, then he ain't there yet..
But if he is determined that he can sacrifice some of the things i just said, then ask him to go ahead

Else i think he better just wait until his 30s, when he has a clear idea of his financial status then buy... Besides, buying a car later means you will get a more advance car

Funny if he dont see the need to use the money to expand the side income..... Rich ppl buy asset while poor ppl buy liability

I don't know whether his wealth will grow anot, i have no idea what industry he is in, his career projection.. likewise your fren dunno whether he get retrenched, get accident, or financial loss...

We can only plan for the worst and hope for the best..  and car=1 year gross income is part of a safe financial planning guideline..

From what i guess, he is near to 340k gross income in a few more years, y dont he just wait it out?

His savings come from inheritance or his income?

Your friend is very young, rich and has no commitment. I bet he is good looking too. Some people are just blessed. So he should buy whatever car he likes.

what business he's in? is it sustainable ?

with that saving and income, I will just go for it.. but I would personally prefer GTR

focus on money
it never betrays u either

but for me i'd rather directly get a proper M car than M-Sport

Obviously our friend here is just dreaming and just need a stroke of ego on his imaginary high status. It is morning already. Wake up!

Tell your friend to buy the car as if he doesn’t buy it, no one else would want it. How else would car companies get rid of their luxury vehicles if not to the middle class pleb.

Rich people are no longer interested in luxury cars..

Ofcourse dont buy la...

Dont be a cheapskate, top up 30k and get the 530i pls...

Not when they are more than 7 years old. Can get one for less than the price of an X70. Only the filthy rich can afford to maintain a MB after the warranty period expires.

Would love to know your take on the i vs e, like pros and cons, taking consideration of cost also. Thanks bro

That’s how the rich people think. If the top 0.01% thinks like the average joe (aka you). You still think they can get to the top of the heap meh? You have to think differently to make it in the world.

Anyhow, if you don’t understand what I am trying to convey in my previous posts, then you are probably not one of the 0.01%.

28 want to buy uncle car?

Buy la at least M3 or M2!

So... did you bought the 530e?

sendiri dupe ask, sendiri answer.

owai.