Words of wisdom!
I'm one of the "young guys" out of college. (well, 5 years ago)
And I'm definately not planning on working with this sub-100k salary for the rest of my life.
As I get more and more experience in my field of business, soon enough I can stop working as a "slave" and start my own business.
I dont' have any kids, I have a wife-to-be who makes decent money as well, I don't drink too much or smoke, so 1500/month for a car payment is really a peace of cake.
What comes to financing, I have made such a good profit on my house that I could easily pay cash for a new Turbo Porsche. However, there's no sense in doing that since I can finance the car with home equity and put my money towards something that yeilds more than the interest I'm paying on the car. i.e. sell the house and buy a bigger one.
My point is that your way of thinking is a little bit oldfashioned.
Sure if my life didn't change a bit during the next 30 years, your way of thinking would be the only way for me to gather assets. But that's not my plan...